$189 of revenues and a company like facebook on $40 million of revenue, it is growing 40%. these are big companies with large market caps on are growing very quickly. that obviously creates interests around other businesses. emily: by tightening, are you saying valuations are plateauing or going down? >> i don't think they're going down. as long as growth continues and the trajectory continues, i think there will be plenty of capital available. each company has an individual decision. private capital raising has tightened up a little bit. emily: environment is better for trading. we are seeing a lot of volatility. you expect that to keep up? how do you take advantage of that? >> there is no question that the volatility we have seen over the last couple of weeks as a result of what we are talking about with respect to economic. people think there is a chance for inflation. you see these strong numbers