TITLE: TMC Conference_Chris Grose_IPO Trends

Chris Grose: What are we looking to set up? The broader tech reopening? First is a recalibration of peer multiples. What is the Fed's policy going to be as it relates to interest rates in light of the inflationary environment? What will corporates and investors ultimately do and think as it relates to their ‘24 and ‘25 growth outlook? And once they have a better sense of that, we think stability will return to the broader markets.