. >> let's expand the conversation and bring in lauren goodwin of new york life management when i look at your notes, right at the top, growth equity bubble could get popped so you do think what we witnessed in the mega-cap in the first part of the year is a bubble >> i think that you're both right with the push and pull between the generative a.i. and i do agree with dan that this is a total gamechanger and the cyclical elements especially with respect to the federal reserve renewing its hawkish stance, which of course, we expected for the course of the year for investors playing this trend from a broader portfolio, there are three things that we're leaning into first, with the tech names, they have to focus profitability because we do see valuations as being stretched. you know, scott, that i, along with others remain queasy at this level another thing about this is great. look at the small and medium cap, cat growth company, and just think about the shift from 3g or 4g technology and the ecosystem. >> was created by what we were able to do with the phones in our pockets. we can expe