No major investor will consider us.

They're valuing these assets at 1 million.

As investors flee

So when you have this regular open end mutual fund, any individual investors can come to the fund and say

And I'll show you why that matters in a second.

Big investors.

This is the total actual value.

Just Manic Enough.

He valued what we already had at 5 million dollars.

By the way before we go forward, this is one point I want to mention.

Need investors for the server farm they are going to build.

So you can imagine, this is the actual amount of cash that

If there are investors willing to finance

And we allow entrepreneurs to share a percentage of their revenues.

CA What's the bottleneck preventing this stuff getting from scale?

On the equity side of the equation we just have four million shares.

So essentially, instead of Countrywide being responsible for my loan, my payments now go to these investors.

But now we actually built something.

OK, there's another vote called for. Anyone object?

Or are you trying to get an intuition for helping to become a better investor?

We said before any of this stuff on the top existed, the pre money valuation of just our idea was 5 million.

(Laughter) Here's some advice from one of the largest investors in the United States.

And we start getting to the negotiation.

So this is my slice down here, 200,000.

So let's say he convinces investor B to join in.

I think it was at 7.50 a share.

And of that share, we have 2 million shares outstanding.

So let's say I have investor A.

That they're reducing volatility.

And that worked out pretty well.

He had originally given us 5 million.

They are just going alone! (Applause)

What's it like being an investment banker?

So if I don't put the 150,000 down deposit on the home, and

Someday, you maybe pitching to a really young VC.

They write these research reports because they want to go to institutional investors or people who have their brokerage accounts with these banks, and essentially sell them stock.

I like that, too. Anyway, I know Chris told us not to do pitches up here, but since I have all of your attention

The amount of money you get.

And of course the investors would care that the money that they're essentially giving because they're giving money to the investment bankers who are giving money to

Risk money refers to funds placed in investments that seek high return, although high risk, investments.

CA And now you're a big investor in that and bringing that to market?

And then, let's say, we have several time periods.

There you go.

In this corner, you have created something that's not valuable and not unique.

So you have tons of investors.