What's your thought on that?

Well, I think that is, you know, it's a good point.

I think fundamentally, you've got to look under the hood.

And of course, the U.S. often achieves a premium because of the stronger growth trajectory.

I think in certain sectors, if you are selective here in Europe, you are seeing a similar growth trajectory.

And I think that's important.

As with any investor, we'll really look at, you know, where are we seeing that growth as well.

So let me ask you then, why specifically fintech, especially for U.S. investors looking at Europe versus, say, traditional banks?

A, is fintech evolving and the future is more around infrastructure? And secondly, is how do you see this crypto wave or digital assets, if I may use a more legit term, converging with sort of, you know, fintech? Or do you see that these two will continue to sort of fight and not want to come together?

Okay, let me try and start with the former.

And I intend to agree with you.

I mean, I think we look at the market now as... a greater recognition amongst the global financial services incumbents that their digital transformation journeys have been long, often painful, and extraordinarily expensive.

And the vast majority of capital that they have deployed in their digital transformation has frankly been deployed ineffectively.

They are building on top of existing legacy technology stacks that in many respects are not fit for purpose and require fresh thinking.

And five, six years ago, where there were some viable solutions for, let's call them some of the largest banks, there was a real inertia reluctance to engage with these infrastructure players.

Yeah.