let's ask rick heitzmann. good to see you again. >> hey. >> i'm imagining a scenario in which you see this pushed off rate cut environment and say higher for longer, and you're like, oh, just as we thought things were trying to get back it normal now are we pushing things off again? >> just as we thought it was safe to get back in the water. >> yeah. >> we thought it was going to be -- we would be starting to get into the cuts, although two things we look for, rates coming down, helps tech, because of long dated assets and helps vc. the other thing, at least there's a little bit more certainty. the volatility of rates compounded that and that was a big issue, so at least if we're able to say let's higher for longer and anticipate that happening over the course of 24 there's rules of the road. >> what about the return of volatility not just relative to interest rates, but markets in general, as we hope they will open up again and you're going to be here talking about the latest and greatest ipo and maybe one yo