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Hello and welcome to another episode of the Adlots podcast. I'm Joe Wyzenthal.

And I'm Tracy Alloway. So Tracy, we don't really talk about it that much on the show, but

if there's one thing I know about you and your career, you're very into sort of like

weird asset classes, weird income streams that get packaged and resolved, a lifelong fascination

of yours. Yeah, I guess you could broadly say I'm interested in the financialization of various

assets, but in recent years, there have been some pretty amazing ones. I think one of the weird

things about this is that nowadays, when you hear it, it doesn't actually sound that weird, but

when these things were happening just a couple of years ago, it was really strange. So I remember,

for instance, there was a solar panel, securitization a few years ago. Everyone thought that was nuts,

because bankers were securitizing sunshine into an investible bond. But nowadays, that seems

very, very normal. And then some of the other ones that have come up are franchise rights and sort

of brand values from restaurants. We've had a bunch of those. And the latest one that everyone

is kind of going nuts over is music rights. Yeah, exactly, right. So basically anything that

throws off some sort of predictable or semi-predictable or future cash flows can theoretically be turned

into a product, into a financial product that can be sold. And of course, one thing that we know

throws off cash is music rights. And so this year, there's been a bunch, but a couple artists

...