Yeah, and it's a thing about London generally, right?

There's these whole class of people who, you know, they hang out in Mayfair,

they go to very expensive restaurants, they drive around in Bentley's,

but actually they're perpetually broke.

I mean, obviously, like, my obsession, Lars Windhorst is like a champion of this.

You love like the, you love people who are living on the very edge of extremely high precipices.

Exactly.

Exactly.

And why I love this story is, yeah, it connects with private credit.

This is an old industry. It's been around since like the 70s.

But in the past few years, private credit has been looking to stuff product into the boxes that it sells to people.

And they've been really big on something called asset bank private credit.

So they're like, oh, this is backed by property.

Property safe.

Securitizing property and mortgages never went wrong.

Famously never gone wrong.

So they've just piled into this space.

So they've been providing loans to the bridging lenders.

And the other weird phenomenon you get is, as we said, like a bank couldn't provide one

of these mortgages.

But often the banks fund the bridging lenders.

So, you know, like Barclays wouldn't provide a loan to James Stunt,

...