And upside is going to be in the form of equity, stock options. There's a second issue with options, which I think is actually very intimately linked to what we've seen, and I would relate it to George Soros' concept of reflexivity. Soros said that, typically, the fundamentals of businesses dictate the stock price. And that's a situation we're all familiar with. Fundamentals do better, stocks get better.
Fundamentals do worse, stocks worsen.
What Soros said is that sometimes there's actually a reflexive loop, where the stock price itself will affect the fundamentals. Let's say a company is an acquisitive company. So they make an acquisition, the market likes it and the stock goes up. That gives them the currency to do another deal. So their fundamentals go up, and then their stock goes up, and they do more of these things.