And

that means our investors don't only want to make a positive difference.

They want to maximize impact with sustainable returns.

So from their perspective, if they can increase impact and that might cost them a little bit on the return, that's okay for them, which is different than a lot of other investors in the impact investing world.

The global impact investment world, Investment Network does an annual survey of whether investors are impact first or finance first.

And the impact first investors are usually about 15 to 20% of the overall world of impact investing, which is a tiny part of the overall world of investing.

So we're able to focus on basic human needs because our investors aren't looking for the highest possible return.

But I think some parts of the development community, including in USAID, I've heard, cannot help but wonder, have we failed somewhere? Have we failed whether it is in impact or whether it is communicating to the public about these impacts? What is your view on this?

From a theme

standpoint? Yeah.

Let me take another look and see what's on this album.

It's taking me a while.

it probably was introspective.

My first album was very influenced by the band.

You know, I knew that I was with Robbie a lot when he was writing these songs and I saw where he would get his inspirations.

now,

off.If super funds and others are subscribing to Gerard Minack, John, why are they continuing to invest in this?

Well, I think Gerard actually alluded to it earlier, which is when you're competing with, you know, your performance metrics with somebody else, you don't want to be too far from the crowd.

And one of the big changes, which is good in a lot of ways since, let's say, uh, dot-com or even 1987, is passive investing is taking over the world.

And what that basically means is everybody's a trend follower, and we buy into things that are big because they're big, because they've got a big weight.

And so, we are massively exposed to AI, uh, in our super funds, uh, in any ETFs we might hold, uh, unless we've made a conscious choice not to or to double down on it.

So, I think that is what's going on here, is that in the past, you actually had to take an active interest in the stock market, and so you had all the chatter with taxi drivers and whatever.

But now, our super funds are doing it for us.

What sort of damage do you see, John?