Patrick, Brendan, save me here.

I don't want to speak for Brendan on this, but actually, Brendan and I were exact same place in 1976 to watch The Tall Ships.

Unknowingly.

Unknowingly, exactly.

So we were there.

It was amazing.

We compared notes and we found out we were exactly the same place at the same time watching these things.

If you step back, how are founding myths necessary, dangerous, confusing, inspiring, any of these, all of these? When you look at this particular period in this incredibly important moment of the American Revolution, but generally with your reading of history, and I ask that just in the context of the broader question of this whole conversation, which is, why are we even talking about this? Why is this important?

about why Sandeming is so central to how we understand the whole connected world that you're discussing.

Well, I think like if you were to look back on Palmer's work again, I don't think it hardly merits a sentence or so.

You know, it's just not part of his story that he's really fascinated by this connection between America and between France.

And to a certain extent, what's happening also within the European continent.

But Saint-Domingue is not going to be an important part of that story.

As we now have in our own work, largely because of the new social history, we've expanded that cast of characters, that group of people that we've been studying.

And I think before, whereas it was just seen as a footnote, now it's becoming much more of a central part of the story that we're talking about.

So I think the listeners would love to hear a little bit about why you were so drawn, particularly as you bring the book to a close, to a grand tour of statuary around the revolutionary Atlantic.

about why Sandeming is so central to how we understand the whole connected world that you're discussing.

Well, I think like if you were to look back on Palmer's work again, I don't think it hardly merits a sentence or so.

You know, it's just not part of his story that he's really fascinated by this connection between America and between France.

And to a certain extent, what's happening also within the European continent.

But Saint-Domingue is not going to be an important part of that story.

As we now have in our own work, largely because of the new social history, we've expanded that cast of characters, that group of people that we've been studying.

And I think before, whereas it was just seen as a footnote, now it's becoming much more of a central part of the story that we're talking about.

So I think the listeners would love to hear a little bit about why you were so drawn, particularly as you bring the book to a close, to a grand tour of statuary around the revolutionary Atlantic.

about why Sandeming is so central to how we understand the whole connected world that you're discussing.

Well, I think like if you were to look back on Palmer's work again, I don't think it hardly merits a sentence or so.

You know, it's just not part of his story that he's really fascinated by this connection between America and between France.

And to a certain extent, what's happening also within the European continent.

But Saint-Domingue is not going to be an important part of that story.

As we now have in our own work, largely because of the new social history, we've expanded that cast of characters, that group of people that we've been studying.

And I think before, whereas it was just seen as a footnote, now it's becoming much more of a central part of the story that we're talking about.

So I think the listeners would love to hear a little bit about why you were so drawn, particularly as you bring the book to a close, to a grand tour of statuary around the revolutionary Atlantic.

about why Sandeming is so central to how we understand the whole connected world that you're discussing.

Well, I think like if you were to look back on Palmer's work again, I don't think it hardly merits a sentence or so.

You know, it's just not part of his story that he's really fascinated by this connection between America and between France.

And to a certain extent, what's happening also within the European continent.

But Saint-Domingue is not going to be an important part of that story.

As we now have in our own work, largely because of the new social history, we've expanded that cast of characters, that group of people that we've been studying.

And I think before, whereas it was just seen as a footnote, now it's becoming much more of a central part of the story that we're talking about.

So I think the listeners would love to hear a little bit about why you were so drawn, particularly as you bring the book to a close, to a grand tour of statuary around the revolutionary Atlantic.

So if we take that dynamic, as you say, which is very complex and which is very violent, and we move through the French and the Indian War toward the Revolutionary War, what kind of roles do the Austro-Scots take up as we move into that period?

Yeah, well, on the frontier, they play multiple roles.

And again, this is where there's no kind of simple answers to anything.

So you're going to find that people from Ireland in particular are going to play important roles in frontier regions as traders, as frontier diplomats.

They're playing these roles for whatever reason.

They are able to kind of to acculturate themselves to native cultures, some of them anyway, quite effectively.

And some are famously going to be adopted.

I know it's a big story, but what would you want to point to particularly there, Patrick, that underlines that importance?

Can you explain to the judge how this all comes together using an illustrative calculation?

Certainly.

This is an illustration at an 18% discount rate and a 3% perpetuity growth rate.

Just orienting you to the top of the page first, the very first row is the unlevered free cash flow under management's long-range plan.

The second row is the result of discounting each of those cash flows at their respective tenor at an 18% discount rate.

Moving to the bottom left of the page, there's a terminal value calculation.

The terminal value is typically the largest contributor to value.

Could you please walk the court through what you're showing on slide five?