Is the T.T.W. Process Helping Investors?

The testing the water process is helpful in the current environment to really give companies a legitimate basis for assessing whether they're ready to go public. I think investors are going to step back in 2023 in a really deliberate fashion and be very selective in what they invest in. We've seen, you know, some big gains around data and some of the categories we mentioned, like Nash and immunology. It's wedding their appetite to come back in.