market right now is dead and over as michael novogratz of the galaxy digitals said . yeah absolutely so what we've seen is a ninety five percent decrease in i.c.a.o. funding since the start of twenty eight so as you can see this is pretty significant imagine that in the venture capital industry the private equity industry so that has made a really big difference but i wouldn't say it's dead for good i would say that we've got a chance for this is going to pick back up as the markets start to recover what we're looking at a box in founders fund is anticipating a return of i c e o o's when a theorem is above three hundred to five hundred so as it starts to pick up we'll see increasing interest in these c.e.o.'s as people have more disposable income from their increase in valuations from their at the holdings. so i hear a lot about s.t.l. as nowadays too because it evolved from an i.c.l. can you explain to us like the main differences between the two. absolutely so i c o's don't have an underlying asset that essentially protects or that investors can go to afterwards if