I don't think seed and series a even apply any more. It's just one big thing that's early stage, and then it's sort of a bidding process at the end of the day. I'v like going to war for these folks, it's hard. Everyone's on zoom all day. All the distributions that are coming out from the i p os, they're going back to the l ps. The l ps are ploughing them back into the mega funds - you can see the progression. You know, when you get more money, it's harder to place small bets. It's renly hard to place hundred cabets for a billon. A billion dollar...
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