What is the overall goal of CartaX and how can it transition from an issuer-centric platform into a full-fledged private market?

So the question around how do we create hyper liquidity I think is what you're getting at, of the change and the private markets. We believe that's kind of a function of the size, maturity in the business. And, oftentimes businesses shouldn't actually allow for hyper liquid stock, just from the size and stage that they're at. So kind of a loaded question.  The answer, I think, is somewhere in between what it looks like in the one-off secondaries market today and the hyper liquidity of the public markets.

But in theory, why does your stock need to trade as much as it does today in the public markets? Why is it that, for public companies, there's 33 trillion of secondary volume, but only 1.4 trillion of primary capital? Why do you need everyone continuing to churn those dollars?

I don't know if you do, so what does the solution look like? We have some ideas, but first we just have to make sure that we nail periodic auctions in the private markets of those first five, 10, 15 issuers that are really excited. And then from there provided that provides a tremendous amount of value, which we are certain it will, we can think about what the future looks like for somewhere in between.