Q And so when you say academic spin-out, most people, they poo-poo on academic spin-outs because usually the university keeps a ridiculously high percentage relative to the value they're going to add to the company over the years. So how did you manage the spin-out? How much equity does the university still own?
A Yeah. So like, and that's a big problem in Europe as compared to the United States. So Stanford, for example, has gone very progressive on that. So they let them spin out and then expect them to give the money back just in firms of like, you know, you're a billion dollar company. Give us a few million there for an endowment. Whereas Europeans are much more, let's get our 10%. And so we, we had a negotiation. We got them down to about four percent. That's about two percent now. That's fine. They still create value for us. We talk about our link to them. We run events on Trinity. You know, they're a big center of innovation. They help us in some international business development as well, a little bit here and there. So, so I think it's a good deal all around.
AI assessment note: “We got them down to about four percent. That's about two percent now.”