The disappearance of the public company Is so important because the businesses aren't going away. The ownership is changing and for many years, I always thought if if my client had a competitor that did an LBO That was the time to pound on the competitor Because they'd be paying off debt. But today's world I think the LBO for the private equity firms today I actually do have a longer horizon than the ones did in the 80s the 70s and 80s And they're willing to stick with the business longer. So somebody goes private And I'm public. I'm gonna have a competitor that's gotta make investments that I might not make Or these investments could conceivably hurt me.

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