we are back with peter dixon and geraldine sundstrom.eter when you look at the tech space, there is something about the culture. is there something -- what is the translation across the industry? is it just within the valuation, or can be one of culture? >> there are a number of issues here. from my perspective, uber has jumped into the space and created a new market. it is not following any business model we have seen from other industries. i mean, what tends to happen in the tech space, the company is, they do well, and sometimes they do well. if they survive, they do well. we have the big five tech companies in the u.s. sitting on huge piles of cash. they are being criticized for not using that cash for better purposes and uber is not at that kind of level. it is at a different level in terms of what is happening right now. francine: geraldine, what is your take on tech valuation? >> i think when i look at the gap valuation of the growth of the market versus tech, tech has profoundly changed the amount of free cash flow that these com