Hem: In crypto, i'm seeing a bifercation where if people are raising on the a traditional structures, where they're raising equity. But then you get into when they're issuing tokens from the get go, or doing a saft and there's never any equity structure. Hem: It also nicely flies in the face of the sort of andres ond horoits sophy over the last decade of this is all going to be so much bigger than anybody can possibly imagine.