I'd love to learn about the lessons that you've learned over this process about structuring internal succession and what mistakes or perhaps whiffs or do-overs did you encounter along the way?

Well, the whiffs that I encountered were many years ago when I was the number two in a different firm and was working toward getting equity.

And the carrot kept going around the track faster and it never happened, which I think is a very common experience for a lot of sort of generation two folks in every industry.

And it wasn't malicious.

It just didn't work out for a variety of reasons.

So I think the whiffs...

I had experienced them.

How did you make that?