Ben Gilbert

And you would know the absolute crap out of their product line.

If you sell chocolate, you monitor the price in the cocoa commodities markets.

And if it takes someone who's managing a very small portfolio to stay that attuned to each one of the things, small SKU count means that any given thing on the shelf

flies off the shelf pretty quick.

On average, it takes them 27 days to sell through their entire inventory, which means that's, on net 30 terms, three days of grace, where the inventory is actually financed by the vendors and then some.

There's no working capital in this business other than building more Costcos.

Yes.

100% we like.

Yes.

And low number of partners so we can put like all of our energy behind very few people.

It's curated.

Yeah.

You can't just run this strategy willy-nilly.

If you're only going to sell very few things, you're only going to make very few episodes, it puts a lot of onus on making exceptional choices on the things that you do choose to carry.

Right.

So it's like a very high-leveraged strategy.

Is this the last?

This is acquired, Michael.

I know.

We were sitting down with Morris Chang, and he was talking about TSMC, and he told us that one of the ways that they aired was trying to exit the integrated circuit market or diversify from that market and go into solar, memories, and there was one other thing too.