The Production Board

“Unlike a fund, it's not just committed capital. We actually take money. We put in a checking account, and we hold it there, and then we can use it to do whatever we want. We run R&D cycles. We start businesses. Occasionally, we'll make minority investments, bu…”

“I don't make any carried interest, right? I don't take any money out if we sell a company. That money is just recycled.”

“We're typically not bringing in people that we start businesses with that are otherwise trying to be entrepreneurs. The scientists, the academics, the engineers, the researchers that we primarily start businesses with are not out there going up and down Sand H…”

“You know, I would hope that we would be a public company. I think that that's important because it would give us access to capital markets to raise additional capital to have equity to a currency we could use, a publicly traded currency to do things with.”

“The way we capitalize the business, you know, we'll typically own, you know, majority of the equity when we start, reserve the rest of the equity for the team.”

“After we put in our initial tranche of capital, the continuous capital we put in after that is in the form of converts. And then everything gets resolved when we raise outside money.”