Today we hosted a ‘fireside chat’ with CEO Ben Kohn, Chief Brand Officer Rachel Webber, and CFO Lance Barton to dive deep into the business. The team did a great job outlining the opportunity it sees for the Playboy Brand and PLBY Group. Each team member covered what led them to join PLBY and what attracted them from a business and value creation perspective. We discussed the opportunites for growth and the challenges for getting the brand's huge relevance with the consumer and current large presence at retail appropriately recognized on the P&L and in the valuation over time. Other highlights include brand head Rachel Webber discussing how the company is engaging influencers and building business opportunities around them as well as opportunities in new categories like digital content and NFTs. This is a transformational story with significant long term growth and margin opportunities before it. Best Idea Long