Business as Usual: Magarac Ventures

Hey, good afternoon, everyone. This is Audrey Russo, President CEO, the Pittsburgh Technology Council. And we have a great show today. And I will introduce our guests in one moment, just want to set up the show. A couple of things. We have Jonathan kersting, who's here. He's vice president of all things, media and marketing for the tech Council. He does a lot of storytelling, and he will be keeping his eyes on the chat. The chat is for you to ask our guests questions, this is not an opportunity for people to sell their wares. So we're just focusing on Jay and will. And that's it today in terms of the work that they're doing. The other thing is we've muted your microphones just to make sure that we're not hearing any noise in the background. So thanks for your cooperation with that, and shout out to Huntington bank for their their support throughout this almost a year of making sure that we're bringing to you updates from so many people and leaders across our region and beyond, to make sure that we're tethered together as an innovation in tech community, also 40 by 80. That's a wholly owned subsidiary of the Pittsburgh Technology Council, where we're focused on workforce development and entrepreneurship. And by the way, that's the longitude and latitude of Pittsburgh. So we're gonna jump in now and bring our two guests and they're going to talk about their new venture. And we have Jake Tapper. And, and will Allen Willie J. Allen was what I was told before we went live and I don't think I'm going to be able to say his name, right again. So Willie J. Allen and J. Catterick, thank you so much for being here. And one of the things that I really like to do is before we start is just to check in, you know, it's been the pandemic want to make sure that you're both Okay. How are you doing? And who are you? So I'm going to start I'll start with will. And we'll welcome thanks for taking the time. I know you're a busy guy, as Jay Catterick really appreciate your time with us today. But tell us a little bit about will and then get into the why of why mag rack and you know, the ventures and etc. So, a little bit about Well,

yeah, thank you for asking, um, you know, I everything I do I lead with with service, you know, that's just who I am as a person, I want to utilize my access and resources to help people progress to help the city progress on this region progress. So at the core of who I am, that's what I do always say when I in my, my previous careers, sports football is what I do is not who I am. But it was a great platform, to share, to help to support and to drive a movement forward. And I see the same alignment with magaret being a venture capitalist, you know, helping entrepreneurs, especially entrepreneurs who are forgotten or don't have the the right, the right access to capital. So, you know, so why magaret it's a great opportunity, and the time is right? You know, we're in a critical moment, I think in history, we're in a critical moment for this region to propel for over the next 10 2030 years. And we've historically marginalized, you know, black founders, women founders of entrepreneur, tech founders, and haven't really, you know, been looking at these untapped opportunities. And you know, we're looking to do that I won't give too much, because we got a no whole 30 minutes to dig into that. But that's just who I am. I want to make a difference with my platform. I want to make a positive impact on my platform and help people around me get better and improve prove the quality of life.

Yeah, it's interesting, because it's hard to de identify yourself, right? When you're in sports, or when you know, you're sort of attached to something and you've been able to do that. One of the examples is that you have a foundation, right? Yeah, about that.

Yeah. So the foundation, you know, I started when I my plan days in Tampa, Florida, you know, I was around 2425 years old, and I wanted to make a difference. Again, I was sitting on the couch doing nothing. And I was inspired by my teammates around me. They all had nonprofits, and they were all doing stuff with single moms. You're doing stuff with, you know, shelters, homeless shelters. They just wanted to do something. And you know, they didn't really talk to me about their legacy. It was more about them truly wanting to serve. And I just start asking them Well, how do you start a nonprofit? What do you do? So our core competency and what we do what our foundation again, is, is around technology. You know, we want to deliver best in class technology, tools and resources to school districts that don't have to help students prepare for The 21st century jobs and careers. So it ties really well. And so what we're doing from investing capital, but preparing these young, these young people, for their 21st century careers and career development, skill development, and I'm very, very passionate about that, because it's needed. And you know, I didn't have those resources. You know, nobody told me that I could be a computer scientist or engineer or robotics tech. And now we now we're living in this world. And, you know, we got, you know, a great tool in front of us, you know, we can build anything with so why not deliver those tools and resources to young people who don't have?

So you could have lived anywhere. And instead, you lived in Pittsburgh, you're from Dayton. That's where you are. And I know you have family there. So what made you plant a flag here in Pittsburgh?

You know, I have no idea. I have no idea.

That's an answer. That's an odd one.

But it's, uh, you know, that's, I think that's a good place. I think there's so much opportunity, what I've learned over time, you know, especially be embedded in the business community now. And it's showing me that people want to move forward, it's show me that people want to, you know, actually make a difference. And if I can have a small piece of that, and, you know, and influence that in some way. I want to, I think I can, but Pittsburgh is good to me. And I think I'm good. Good for Pittsburgh. And I just want to continue the momentum and see where we are 1020 years from now say, look, look at the great work that we've done. huge opportunities here. huge opportunities. That's great.

Appreciate your teamwork. That's what Finn, you know, common thread, in terms of will Willie j, the man. So I really appreciate that. And I'm gonna scoot over and just talk quickly to Jay Katherine's at checkout. orinduik has been active in the tech community, probably longer than I know. And when I did a little digging, Jay, I totally forgot that after you went to Holy Cross, you actually went to law school, and then got an MBA at CMU. So you've taken a couple of little twists, right?

Anything, anything when I got out of college, anything to avoid getting a job on every school?

Now? I was gonna say I, you know, I didn't say that you said it. So I'm really glad that it came from your mouth. But I think, did you practice law? What were you thinking back then?

Yeah, it was it was actually a joint program at Pitt and Carnegie Mellon, where they have a setup program where you get both degrees in four years, which was fantastic. Wow. And then I did, I did go practice law in New York City for for a while. So which was a great experience.

Right. So then fast forward, talk a little bit about Jay, you were born and raised in Pittsburgh, right come from an immigrant family,

we raised in Pittsburgh, and, you know, except for time in college, and time in New York, you know, go to my whole life. So, you know, I'm a Pittsburgh guy. And, you know, as we were getting ready for this, we're talking about, you know, millvale, and it's great, you know, it's such a unique place. And so we're really excited about what the future holds. I mean, we have a, we have a, you know, what we refer to as a once in a generational opportunity in front of us. And that's why we're so excited to to launch the firm and, you know, do our little part to support entrepreneurship in western Pennsylvania?

Well, I would be remiss if we didn't talk about mascaraque, sort of the legend, the lore a little bit. And there are some great analogies with that. Either one of you might just want to talk about that for a second, because I actually didn't know I always knew the statue down in Braddock, but I didn't know the lore of the name, mag rock.

You know, I'll jump in and then we'll we'll can fill in what I missed. But, um, you know, Joe, Joe mag rock is a is a is a legendary folk hero in the in the steel industry. And he was really viewed as the person that lifted up western Pennsylvania, through the first Industrial Revolution, and made Pittsburgh, arguably one of the two most important cities in the world. You know, there was there was, at least in the United States, there was New York, and then there was Pittsburgh. And, you know, we believe that he epitomized the hard work, the creativity, the ingenuity of Western Pennsylvania at the time, and we have that opportunity to go back and become that, you know, we don't want to be Silicon Valley. In my mind, we don't want to be any of those places. But we have a chance to be a true leader, because of the things that are happening in western Pennsylvania today. And so we thought it was a good a good way to represent not not the past of where we're headed in the future, and how we're all going to do this together. This isn't a one person job. It's everybody who's on this call, and it's everybody in Pittsburgh's job to go and lift this community to Place where it should be given the resources that we have at our disposal.

Yeah, it will. Do you want to add anything to that?

I mean, yes, that is definitely paying homage to, you know what, well, what this region was built on? You know, but it's also, you know, I think what's really cool about the Joe magaret theme, and you know, what he represented was also, he represented people who didn't have a voice he represented for and for people who didn't, who were overlooked. And a lot of those people were immigrants, right? It was a it was a, it's a folktale. But, you know, it was a much needed folktale that people found inspiration in, they found opportunity in and they found a reason to drive and push forward. And I think, you know, that is what's made Pittsburgh kind of that blue collar mentality. But now we're, we're driving forward a new technology, you know, revolution, and we have to start thinking about how we build on that Joe magaret mentality, in a very, in a very unique way, supporting again, entrepreneurs who have been overlooked people who are looking for hope, in a new in a new form of fashion as relates as it relates to technology.

I love that you pull into the past to launch into the future. And it's a great, it's a great analogy. So thank you for that. So So now, you know, let's talk about this, you know, many of us who are on this call know, you know, capital investment matters, right? We have, we need that to ensure businesses thrive. And we've we've not been, you know, sort of at the epicenter of having, you know, an immense amount of capital, you know, in this region. Now, we've had, you know, 70% of the capital comes from outside the region, we've certainly had growth in investments in this region, but we really, we haven't had an IPO we have, you know, maybe we had one, but I don't know anything more than that we haven't had, even if you look at Salt Lake City, we hit we haven't, you know, compare us to them. And we just haven't had that. And I know, that's the passion j that you've had over time. And I think that's what will is saying. So, you know, it is an age old story. So now what we have great incubators, we have great accelerators, we have you know, a lot of the smatterings of sort of the good bones. But we, you know, what are you gonna do with with mograph? That's gonna be what you think is really demonstratively different. And where do you think the gaps are that we just need to face head on? So either you want to take a stab at that.

Roger?

Are you diving, right? You're diving right into the deep end of the swimming pool on us here? I like it. Thank you. You know, Adri, listen, we what we're trying to accomplish is pretty simple. You know, we've had a great history in western Pennsylvania of venture funds. And we've had Burj Mir we've had atoms, we've had others that have been, you know, great to work, great venture investors and great to work with. And we have a number of kind of new firms popping up with my statement, 412, etc. And a lot of it is around this one, I talked about it before this once in a generational opportunity is presented itself. We have Carnegie Mellon, we have Pitt, and for the first time we have the corporates, really focused on innovation, and how innovation can drive the economy going forward. We also then have a macro effect of for the first time in a long time, there's cracks in Silicon Valley. And so Silicon Valley isn't the place that everybody used to think it was. And so the draw from a CMU student or pit student to go to Silicon Valley isn't nearly what it was. And so, you know, over the last two or three years, and talking with Carnegie Mellon and talking with University of Pittsburgh and talking with a number of others, including the wonderful support we've gotten from from the state in this, you know, we decided, hey, Pittsburgh in western Pennsylvania needs a PSA needs a fund of size, that can make a difference in a big way. And so we you know, we've set out to raise 100 $250 million fund that will invest, you know, in a number of different ways, but not only are we bringing the capital, but then as part of this fun, we're going to bring a number of what we view is essential other venture firms call them as wraparound services, around HR, around sales and marketing and around some back office things to allow companies to grow faster than they've been able to grow in the past because they can put their resources toward not back office, but put the resources toward developing their technologies and sales and marketing. So it's really we've got a perfect time to go watch a fund with everything that's happening at Pitt and Carnegie Mellon and the technology community as a whole. We've got a world that's looking much different than it looked 24 months ago. And you know, we we think we've really got a unique opportunity to go and capitalize on this with a fund of critical mass. I mean, you know, we've never we haven't had for a long time. Time abundant this size focused in this in this geography?

Well, yeah, I mean, you know, Pittsburgh, and many smaller cities that have that. And I don't like to compare ourselves to other cities. But if you go to Silicon Valley, you can have sort of a, you know, a weak idea and you can get funded. When you're in it in a place like Pittsburgh, it's almost like the bar is higher for you to run these kinds of experiments. So I'm excited to have this amount of money floating around with a lot more investment because our bar is higher. I mean, it seems when people are launching these companies, they're just not harebrained ideas. You can go to Silicon Valley, and you've got an app. And you can get investment within a short period of time. But not here. Now part of that's our, our legacy, too. We're conservative, right? We've been in materials and all the things there. What do you think is? Why do you think that there's the cracks now in Silicon Valley? Is it COVID? Is it what do you attribute that people are thinking differently about where they want to work where they want to live? Yeah,

I think it's a combination of things. Obviously, you know, COVID impacted that had a huge impact on how people navigated remote work. And a lot of the, a lot of the, you know, companies in Silicon Valley, say, hey, work from home or work from wherever, and these folks are saying, Well, okay, well, I moved to Miami, I moved to Texas, Inc, taxes pay a huge part of that, you know, quality of life pay, you know, from you know, where you want to live going to the beach, or having sun all the time, and and then people are just expensive to live out there. I'm not saying that Silicon Valley still won't have its, you know, its way or still be the prompt, prominent location that it is, it's just that you can build anywhere, right. And when you think about what we have here, in Pittsburgh, and in the Midwest, we have, you know, a GDP of another country, in the whole entire Midwest, we have 60% of the population in the Midwest. With a Pittsburgh alone, we have great corporates, and world class universities, and world class talented people. But we got to bring that together, we got to make that stake in funding in this in this mega rack. Our venture firm does that. And if you look at this conversation, you know, you look at me and Jay, I'm a black guy, he's a white guy, let's call it what it is, you know, and then we have a woman on the call as well. You think about this connectivity in the conversation we're having how venture and tech tech investing and building companies how it's gonna look different for the future of Pittsburgh, this? Is it this type of conversation? I'm the youngest on this call? You know, you know, and

you don't? I don't know, though,

I think so. But, you know, that's what we have to start to transform our thinking and lower that barrier. As you mentioned, yes, we need to make money. Yes, we got to make great investments. But there's so many opportunities out there, especially as relates to African Americans, women, and people from diverse backgrounds. And we cannot continue to overlook that. We can't continue to ignore that. And we have to be intentional about it. So I think Pittsburgh is a right place to build a company, or right place to come together and get behind a fund like ours, and people like us, because we're thinking differently about this ecosystem in this community.

Well, you know, listen, everyone knows that women and people of color makeup, like an infinitesimal small, you know, amount of venture funds, right? But yet, when you look at the data, particularly about women, their success is very, very high. Their success is hot. Yeah. What are you guys gonna do differently? What's your commitment? Jay?

Yeah, I mean, you know, Adrienne, you know, we've had a long history, it Draper of supporting what we call underserved founders, and we'll really hammer this point home to us when he sat down with us. And, you know, when we were trying to entice him to join the team, which, you know, was wills. I call him the Renaissance man. You know, I don't think he really likes that, but I keep going with it anyway. But, you know, so we took a look at what we've done in the past. And, you know, we realized that we had put a significant amount of dollars into underrepresented groups. And so we're putting, you know, we think we're doing two things, we're putting a stake deep in the ground. And then we also are going to do something that we don't think any other venture fund has done yet. But we think it will become very common going forward once the word gets out on what we're requiring our portfolio companies to do. So we'll let you go into the details. But we're excited about the the commitment that we're making. And it's really a commitment that's coming through our limited partners because they're wholeheartedly endorsing, you know, what we believe in to the very core of of ourselves. And so we're really excited about the commitments we're making and will can can go into the details. Yeah.

So I mean, obviously, we all know the the historic data behind African American women, not not being funded. And African Americans getting less than 1% of funding in the performance of women entrepreneurs, you know, being really, really successful. And we look at that data not and I challenged Jay, I challenged the team and said, hey, what have you guys done in the past? What have you guys really been intentional on and you know, and the truth is, they hadn't. But they, when they took a look back at the historical data, a lot of their C suite, and entrepreneurs I've invested in were women were people from diverse backgrounds, we got to do better as it relates to African Americans. And I know we pointed that out. And we said, Hey, we can't overlook anybody, every time, no matter what your color, creed, religion, whatever is you if you have a fantastic idea, we're not going to ignore you. So I can't give $1 amount just know is going to be very significant to our fund, of what we commit to African American women and people from diverse backgrounds, which which which has not been, you know, done here in western Pennsylvania, across the Midwest, and we're proud of it, and we're going to be a leader in that area. And then we're going to hold ourselves accountable. And we want to make sure that we do everything we can to make sure we don't miss opportunities, we know our doors are going to be open our phone, our emails are going to be open, because we got to hear every deal. Now we won't invest in every deal, let's just be honest, because not every deal is the best. Not every deal is great. But you know, we're going to we're going to build a better stronger community where people can collide and create ideas together, it may not be us that invest them, it may be forward to venture, it may be Mountain State, it may be whoever is available, hey, they may be able to invest or maybe an hour outside of investor. So it's about connecting and stitching together what we already have here, and then exponentially growing that in. And it's not lip service, you know, when we put money in real dollar signs of that we know what's real. So that's where we're coming from, we really believe strongly, strongly, we really have a strong conviction on what Pittsburgh has to offer, from our community, from our culture, from our even our universities and colleges, you know, to our people, we have to take advantage of it.

So I believe that I just want to make one comment, and then we're gonna go to some questions that are out there. Yet this this fund, and the size of this fund is not really considered a seed fund. I mean, you're it's it might be in terms of technically in the offering definition. But this is actually putting some bigger dollars to work. Am I saying that correctly?

Yeah, no, you're obviously we're going to invest between probably on the low end 300,000. And on the high end, $5 million in the companies initially. So I mean, you're going to see a number of see deals done primarily with with Pitt and Carnegie Mellon, founders. And hopefully, we'll get the opportunity to work with the the innovation works companies as well, because they obviously have a fantastic cohort of companies that always come through there. And then it's all the way up to the $5 million check size, which is something we've not had in Pittsburgh, write an additional $5 million check for a long time, and we think that's vitally important.

Yeah. Yeah, I wanted to I wanted to point that out. So let's go to a couple of the questions. We have some people that have questions of you. So Jonathan,

you want to grab j and we'll always good to see you guys. Rumor has it. The new geomag rack is bending molten hot code with his bare hands as we speak, not just throwing it out there. So we got a great question from Dave Raiden. Here wants to know, does mag rack replace Draper triangle? Are you doing both? Are you are your other partners taking over dt in tech? Are you transitioning?

Yeah, no. Sure. It's a great question. Hey, Dave, how are you? Um, you know, we, the Draper name is really morphing in into into mag rock as we go forward. And Mike and Zack and myself and will, will be will be involved in the new fund will also be involved in in seeing through our investments in our third fund at Draper where we're out of the investment period, so we're not making any new investments. But we have a number of super promising companies that we that we're you know, obviously continue to work hard on.

Very cool. And Emily mercury wants to know, are you ready to start talking to airy companies and how can they get happy people get in touch with you?

Yeah. Emily, great question. We're really close to being able to To talk to tech companies, we got a little bit of legwork left to do with our, our initial investors. And once we get that behind us, we'll be we'll be, we'll be ready to rock and roll. So, you know not, not to put you off, but stay tuned for a very short period of time, you know, and we'll, we'll make sure that we'll get our contact info out to Adrienne and to Jonathan, and they can distribute out to everybody on the call, because we've you know, we'd love to start talking now. So we, you know, we've got a number of companies in the queue, and we'd love to hit the hit the ground running.

So is there any other questions? Jonathan, I wanted to ask about,

you're all clear. Let's keep the conversation rolling.

You know, we have a wide assortment and diversity of our community in terms of, you know, the technology and solutions, any sweet spots, any areas that interest, both of you in particular. And and and we've also had movement of social investment investing as well with a return of course, but any areas that you're highly attracted to or you're bullish on?

Yeah. Okay, I'll

kick it off. And we'll you can you can tell the truth here. Um, you know, Andre, I think it's, there's kind of three broad themes. One is obviously automation, we've done a ton of automation, investing in the past, we are the world's leader in automation right now. And you know, there's a place where this the state support has been fantastic. Carnegie Mellon, Penner doing so many wonderful things. So obviously, automation will continue to be a big focus, you know, anything around AI, which again, another leading another leading facet of what we do here, in, you know, as part of AI, obviously, machine learning, I think those will be a big part of the focus. We'll also be doing some, you know, light med tech, like we've always done in the past, and we've been fortunate to be really successful in our in some of our med tech investments. And so we will continue to do that, but to be given the work that's going on at UPMC in that space.

Yeah, I would, I would say, you know, as we think about I mean, that's kind of a broad stroke, which I think is really great. And we'll we'll keep it there. You know, you start to think about what really was happening in the world, you know, this, this kind of clubhouse phenomenon I've taken over. And, you know, people are still trying to figure that out. But this creator economy and distributive information that is being disseminated, I think, is something that we all should be mindful of, and how new businesses are being formed because of it. And we have to keep our pulse on that, you know, how FinTech and banking relates to this created crater Academy, I think will be huge for the future. Something, we definitely got to keep mindful. And obviously, we're in a great sports city. So we cannot overlook sports tech. I mean, that is that is something had, you know, because of my background, and what I've seen in investment history, we got to keep an eye on in that case, go to the light healthtech that j spoke of, or even the AI space. But that is a focus, you know, you think about three sports team that historically, you know, have a championship mindset and being great for our community. Um, you know, what, why not, you know, build that infrastructure out a little more. So those are areas I'm keeping a pulse on banking and meeting people where they are from a FinTech standpoint, you know, sports tech, in this creator economy is just, it's just going to be huge. And you can tie that into AI, you can tie that into hit health tech automation, however you want to look at it, but those are just some of the thematics that we see and that we've been seeing happen over the last, you know, couple years.

I mean, I'll tell you maybe just to jump in. And I don't mean to belabor this, but you know, we'll make a great point here. And one of the things that I think we're going to do in this fund that we've not done in the past is more consumer tech. I'm not sure it'll be a preponderance of our investments, but, you know, will will is had incredible success. I mean, you know, we'll doesn't like to talk about himself. But you know, his investment success as an angel has been incredible. And, you know, some of those have been in some of the world's leading consumer that have popped up and so will has a special touch that will be really leading that practice. For us as we go forward, we do a number of other things. But you know, it's great to have some consumer expertise on the

mat. I liked that I actually liked that I felt that that's a gap here. I feel like people who have consumer products and services have tended to leave Pittsburgh and have gone to other places where they can get the leadership and the support that they need. So I'm really excited by that, because I think we're gonna see a lot post COVID in terms of of that space, so I'm glad to hear that because I think that attracts people in sales, marketing, and just in a space where we've been enterprise focused as a region and b2b even though that's great. And that's, that's our strength. But, you know, post COVID I think we're gonna see a proliferation in that space. That's great. That's great to hear. Listen, you too. I'm very excited. I'm bullish on all this. Someone's asked a question just saying, like, how big do you think that? You know, how many rounds? Do you think you're going to be able to? How much money do you think you're gonna able to invest in the number of companies? I think that's a question that you probably can't answer yet. Unless, Jay, you think you can?

I think we're gonna do the preponderance of our deals, we'll be in kind of a seed and a round investments put a lot of our dollars will be in the A in the growth round investments. So I think you'll see, you know, we'll see, you'll see an awful lot, you'll see way more deals in this fund than we've done in the past. So probably, I would guess, 30 to 35, rather than or 15 to 20.

Well, you know, no matter what, I think you're gonna bring a lot to the table. I just want to say to everyone that, by the way, Jay cannon renza has been on the board of the Pittsburgh tech Council for, ah, 20 years.

Does that sound right? Yes, 18, maybe

19 1818 years. And Bill has joined the tech council as well. He's been on for a cup for almost two years. So I'm proud of that. I'm proud to know both of you and to work with both of you. They are not shrinking violets. They don't just say yes to everything. So it's great to have people who want to push the needle and keep the tech council focused. And, you know, you're These are people that I like to surround myself with. And I really appreciate that.

We like to surround ourselves with to Audrey as well. We'd like to do business and in, you know, have have a cocktail or are there you know, every once in a while, you know, whenever we get whenever we get to do that again, you know, we ready for your parties to come back?

I know I'm ready for them to it's been way too long.

Yeah.

Audrey, you know, I did want to say thank you to what everything that you've done with, you know, not only these businesses, usual events, but everything that the tech Council has done to help people manage through COVID. I mean, it's been such a wonderful way for people to stay in touch and connect. I know it can't be easy for what he does every day. But it's on behalf of the entire tech community. Thank you. And maybe this is a parting word. I mean, we can do this, but we all got to do it together. I mean, this isn't about mag rack. This isn't about anything. It's about the tech community in Pittsburgh, all coming together, and let's lift this thing and become what we what we have the potential to become. I mean, it's all we're all in this together. And I can't, you know, we'll and I can't wait to do our little part. But we're really looking forward to working with everybody else to accomplish great things.

Well, I got nothing more to follow up on that. So I take that I receive it. And I'm going to heed your marching orders because it takes all of us. So I can't thank you both enough for taking the time with us today. Stay tuned, more info coming. Really appreciate you being here. Thanks, Jonathan. for always being here. And being a great partner, Brian Kennedy on the team. We all do it together. We got a great team of people who just they kick butt. Do they kick mascaraque Wait is that I was almost used it correctly. mascaraque means what does it mean?

For ass but I prefer donkey. I get called that every day. So it's perfect for us.

Means strain. It means strength and you can carry a lot. So on that note, I want to thank everyone for being here today. And tomorrow. We actually have the winners of the Civic hackathon that we did two weeks ago and J and will you might want to pay attention to this because they've gotten some legs. They've gotten some legs so that stuff is just way way cool. So everyone stay safe. I don't think it's gonna snow today. And it's gonna be cold, but that's okay. It's Pittsburgh. And I'm glad to be a part of it. And I think Jane will for the work that they're doing. So thanks everyone because he joins us

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