Some people will say it's for public health research.

I understand you prescribed a highly experimental drug.

lifecycle adoption curve popularized by Geoff Moore in a book called Crossing the Chasm.

I'll tell you what I think about this and the stock market in a minute.

And that some of the channels we thought would work didn't work.

So those are the 2 goals

The man is practically the unofficial mayor of the island.

Currency and bond markets are relatively calm.

You go from drug formulation, lab testing, animal testing, and then clinical trials, which you might call human testing, before the drugs get to market.

Market capitalization.

I want these personal experiments stopped.

There are some experimental programs we're looking into... but those need fd a approval.

(Laughter)

What was the idea? What grabs you about this?

We talked about the jobs to be done. We talked about pains. We talked about gains.

Number 1 is we're going to teach customer development.

One of the things I just want to reemphasize because we mentioned it earlier is the difference between single sided markets and multi sided markets.

Beware of Safety is an instrumental rock band.

And so you could see multiple customer segments, multiple value props, multiple revenue streams this is a somewhat complex multi sided market.

Now this was an example of a 2 sited market.

If it had 10,000 shares, and actually both of the shoe companies had 10,000 shares, then the market is essentially valuing the equity of Ben's shoe company at 215,000, even though the book value of the equity was 135,000.

You want me to prescribe... an experimental psychoactive drug... to a bunch of suicidal teenagers?

So I made 50 off of this trade.

And the obvious thing to look at is the sun.

How can we explain this strange phenomenon?

It's about 1,300 square miles. They used to test nuclear weapons here.

But if you had a revenue model but no users, there would be no reason for those advertisers to show up.

Matching competitive features is what we used to do and actually is a going out of business strategy.

Company B is cheaper.

Prev

And here's the problem.

And that too is a relatively new idea.

The troll market! The troll market?

You guys know they used to use this as a test ground for Abombs?

You guys know this used to be a test ground for Abombs?

So this is the more formal definition of GDP

Well, we can do a little experiment.

Save the lab medical student.

You're it. Congratulations. You're the customer and you're going to pay for it.

It's the share price times the number of shares.

In August 1945, the cities of Hiroshima and martyrs of Nagasaki served as a testing ground for nuclear weapons.

I opted in for three surgeries, and one of them was experimental.

But now we're going to make it more difficult.

As we discussed, some businesses are multi sided.

Patient capital requires that we have incredible tolerance for risk, a long time horizon in terms of allowing those entrepreneurs time to experiment, to use the market as the best listening device that we have, and the expectation of below market returns, but outsized social impact.