Okay, good. Cool. So pre-seed, which a Chen would call bet on the entrepreneur. In that case, typically you're raising from friends and family or accelerators and a lot of those, the accelerators will actually set their own pricing based on the investment. So for example, YC, they set their standard basically for $120,000 investment for roughly 7% which sort of puts your valuation at 1.7 million, if you kind of do the math. I think that YC, Y Combinator, that sort of in general sets the stage for what valuations for good companies, which YC tends to attract, obtain in the pre-seed market. And so while it is a bit arbitrary, you're typically talking about valuations around 1 million. It's kind of what the entrepreneurs set, but given you have accelerators out there at around one to two, that tends to be the range. Next phase is what you call seed, which is bet on the team, per Andrew Chen. I think here is where you start to think about the 20% ownership rule. That 20% ownership rule carries through throughout the mid stages of a startup lifecycle. And what I mean by the 20% ownership rule is that typically investors that are purchasing and investing into a company, they want to own at least 20% of that company because that is the framework they have in order to at least exert some form of influence over management and leadership and feel like they have a stake, a meaningful enough stake in the company. So that 20% rule tends to be the industry metric. And so what that means is that depending on how much money you raise tends to be where the valuation will shake out. So think about multiplying by five, right? And that's where you can start to think about valuation, when you're at the seed stage. Things that are relevant there start to be the TAM, the total addressable market, the story, possible unit economics. Usually you don't have a business yet, but just looking at what is the profitability and revenue and sort of what are all the metrics for one customer that you're trying to do based on what you think the market will look like. That tends to be what people look at. So a combination of addressable market, what theoretical unit economics are, the team is kind of where I started with, and then that 20% or so ownership. So you're typically looking at you know, five to $10 million post money for seed rounds. They can get higher. You know, second time entrepreneurs, all those kinds of things can push it into, you know, the mid teens to 20 but those are really reaches.