Commercial realities.

Yes, I think in the short term and longer term.

I mean, in the short term, supply chains are under threat.

If you were on the board of a food company or a fashion company, you would be facing, you know, every board meeting issues around the globe in terms of your supply chain and how it's being affected by the immediate things that are going on.

But then for many industries, it looks longer term and they're needing to look out into the future.

And one of the really big challenges at the moment for boards is it's all very unpredictable, if we're honest.

If you do the sort of classic strategic scenario planning that I grew up with, It doesn't really work because the scenarios are varied and many.

What are the obstructions to crossing that Rubicon into that sort of positive territory that we've been discussing and is being achieved by so many tens of thousands of your directors?

And before we get into some of the detail, I wonder if you can paint a picture of what it was like just to be inside the boardroom of a mortgage lender at this time.

And it was such an interesting time.

And I think looking back on it, it's always different when you look back.

It crept up on us.

I mean, we were having a lot of conversations about the fact that consumers had borrowed too much.

They'd leveraged their salaries far too far.

People like Capital Economics were talking a lot about the risks around that.

These are huge moments for boards and companies.