I think companies start getting flight risk flashing lights at around the third fundraise.
American capital is very dominant in Canada. I think in some statistics, you can see that in certain rounds, up to 75¢ for every dollar invested here is American capital. It's very dominant.
Obviously, we're sitting right next to the biggest market on earth in terms of dollar availability. Also, it's a very competitive environment within the U.S. itself. You have multiple jurisdictions deploying capital, and many different taxation regimes.
I feel like it's kind of a blessing and a curse, in the sense that while we have access to a lot of this capital, it also puts us in a very tricky situation, in that a lot of these companies are going to be incentivized to leave, so—