Chris Olson

Right.

Be transparent, be upfront.

And that's going to be part of our goal in the operating venture is to be as completely transparent as possible.

Part of that is to give customers the indication of what would you pay me today for the product you just sold me?

And that difference between the bid and the ask, the sell price and the offer price, is called the spread.

Yeah.

And the spread is really the determinant of what is the cost of the asset that you're investing in.

What is the friction?

If you need to sell it tomorrow, how much are you going to lose?

And if you sold it back and the market didn't change, you should expect to take 3% to 5% off of...

Your value.

Right.

Because that's the typical profit margin of an honest dealer.

Much better than a new car, I'll tell you that.

Sure.

Yeah.

Well, and this is a commodity money.

So, you know, there's only so much that should be added in terms of value and processing and costs to that transaction.

You know, when we're talking 40, 50, 60 percent that you're just taking.

You're just taking at that point.