True, I think it's both. I went back and listened and it was over 60 (not 50) presentations. I bet some of these were private requests in addition to the ones that could have had dozens or participants. Otherwise why do 60. Just do 20 bigger ones and save yourself the effort.

While I went back I did notice Rory say he was interesting in having the greatest number of institutional investors with a great track record. 40 seems like a great number.