mike mignano is with us.ing on generative ai and supply chain and you used to lead podcast live video businesses at spotify. i want to start with spotify. how much of an impact is the backing stability at first republic? have you felt your portfolio companies and yourself have diversified enough? >> yeah, i think if you are a founder, whether you are banking in 2023 or 2019 when i was building my company, it is good practice to diversify across several different banks, like anyone would with any investment strategy. if you are a startup, you might carry a lot of cash. it is a good idea to be responsible with it. to give that advice to a founder or myself when i was starting my company. ed: welcome to the program. good to see you. how difficult -- it is good to see you because things are difficult. on one hand, we told you the news about keith block starting a new firm and raising funds. on the other hand, founders absolutely desperate for cash to get rounds closed. across your portfolio companies, what is the