Mm-hmm.

You know, you can go and take a three-month license, a six-month license, whatever it is, and it's not a lease, it's a license agreement.

That's serviced like a hotel.

So where does managed fall in? And I think this is perhaps a mistake or a, or a, or a misunderstanding perhaps from many asset owners and many other areas in the market that managed workspace is a subset of flex.

It's not.

Managed offices are leased offices, normal leased offices.

Mm-hmm.

Now, we've ...