 Businessman Robert Smith detailed how private equity firms function. His outline had similarities to how major label deals are constructed in order to most benefit the label monetarily without actually investing time and energy into a lot of the artist's sign. Check this out. Let me tell you what private equity is. Okay. It is typically eight white males sitting around a table arguing about which of their deals is better than the others. They have 15 or 18 deals in their mind and 25 relationships. They think that if they bring it together they can make money and then they sit at the table and argue about well my deal is better than yours and I'm going to shoot your idea. It's a very bespoke process and most people think oh by that the cream will rise to the top. The best returns will manifest out of that process, that crucible of engaging. But go look at the facts. The facts show high volatility, okay. Some cases do great. Some cases lose everything, right. You know look I don't call that investing. That's placing bets.