can't afford the venture math doesn't work. If you're overpaying, you just fundamentally can't achieve the IRR that LPs expect if you're massively overpaying. From our point of view, we're very sensitive to valuations. Sorry about that. That's my dog. All right. We're very sensitive to pricing. I think public equity investors should be as well, but you really rarely hear people talk about PE ratios anymore. It's a much more automatic thing. As you say, I got my paycheck, so I'm going to put it into the stock market. What do you think the interesting story is? What do you think people will be talking about in the fall? I think it'll still be the lingering effects of the virus. I doubt it's going to be a short-term snap back to normalcy. It's an important, obviously a great point that you're making because there's a huge chunk of the economy that needs to things to be normal in order to function, and not just the airlines. I use Greece as a classic example because they've done a (33/97)
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