I’d appreciate perspectives on how others think about “working in” vs. “working on” an acquired business. In cases where the product, culture, geography, and returns are desirable, are you opposed to stepping into the business operationally, or do you view that as consistent with a sound acquisition thesis? For those with experience: • How did your role evolve post acquisition? • What functions did you initially step into, and which did you prioritize exiting? • At what point does heavy operator involvement enhance value versus constrain scalability?