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The Importance of Humility at a Capital Conference
I was also surprised that we met with some capital providers that seemed to have interest in deploying capital. But they were 5 to 10% of your meetings versus the last few conferences where 20, 30, 40% of the folks you talked to had cash reserves or dry powder. So I think it was an interesting time to be at a conference where everyone admits that there is no capital and yet you're in a building with a bunch of people that are either supposed to have it or that want it. We've been humbled. We've definitely a lot of humility going on.