[applause]

Folks, good evening.

It's great to be here.

Climate change is a real concern, so why am I so optimistic about our future despite the challenges we face? Climate scientists are making great progress right now, providing pinpoint predictions of the new risks we face about the timing and the geography of extreme heat, fire risk, sea level rise, flooding, natural disaster risk.

As an economist, I celebrate this Paul Revere effect.

Paul Revere lived a long time ago.

The, the climate scientists are the new Paul Revere, giving us this heads-up about these new challenges we face.

But-

Kind of walk us through some of the challenges you've had, some of the successes you've had that you'd say, gee, give me a case study saying, gee, if I could replicate this, something that you've done in the last year that worked, this would be one that you'd want to do.

Well, I guess I have to give a shout-out to Raymond James.

I don't know if Mike's in the room.

I have my glasses on, so I can't see.

I know he's being honored tonight.

So I was on the board of this company called Acoustis Technologies, and they got hit with a patent infringement lawsuit.

So that forced them into bankruptcy because they couldn't afford the payment because it was more of a startup making wafers for – And we basically couldn't find anyone to buy it.

How are you dealing in situations where you have some of the people on the team called the private credit team where some guys want to participate and some don't? Are they just buying each other out? Because that's got to be more complicated than I've seen in the last year than probably the last couple of years.