David Frankel

I don't agree with that. I think some of the tools are actually very commoditized. So I think that the vertical SaaS or horizontal SaaS or data owners will be able to access the underlying tools reasonably cheaply at some point.

I don't agree with that. I think some of the tools are actually very commoditized. So I think that the vertical SaaS or horizontal SaaS or data owners will be able to access the underlying tools reasonably cheaply at some point.

I don't agree with that. I think some of the tools are actually very commoditized. So I think that the vertical SaaS or horizontal SaaS or data owners will be able to access the underlying tools reasonably cheaply at some point.

And you may disagree with that, but I think if you look at some of the open source software around this, it's going to become more and more commoditized, the underlying tools. So you could go and say, well, why can't every single company do that? I don't think you can, but I think there are going to be software providers that enrich their tool set that are going to do unbelievably well.

And you may disagree with that, but I think if you look at some of the open source software around this, it's going to become more and more commoditized, the underlying tools. So you could go and say, well, why can't every single company do that? I don't think you can, but I think there are going to be software providers that enrich their tool set that are going to do unbelievably well.

And you may disagree with that, but I think if you look at some of the open source software around this, it's going to become more and more commoditized, the underlying tools. So you could go and say, well, why can't every single company do that? I don't think you can, but I think there are going to be software providers that enrich their tool set that are going to do unbelievably well.

Yeah. You remind me a little bit of when I started our ISP with my co-founders and we went to like the biggest banks and we offered them internet service and hosting and all sorts of like e-commerce options. And then we went to like the national kind of railway owner and they said, look, I've got a network. I own a network. I've got fiber on every single railway.

Yeah. You remind me a little bit of when I started our ISP with my co-founders and we went to like the biggest banks and we offered them internet service and hosting and all sorts of like e-commerce options. And then we went to like the national kind of railway owner and they said, look, I've got a network. I own a network. I've got fiber on every single railway.

Yeah. You remind me a little bit of when I started our ISP with my co-founders and we went to like the biggest banks and we offered them internet service and hosting and all sorts of like e-commerce options. And then we went to like the national kind of railway owner and they said, look, I've got a network. I own a network. I've got fiber on every single railway.

I own a network that like just dwarfs you, right? I can do all of this, like what I need you for. And I remember like, it was like, okay, like walk out, right? Six months later, they'd done nothing. You know, a year later, they're done. Two years later, the answer is there'll be the short-term thing where again, everybody goes like, I don't need you.

I own a network that like just dwarfs you, right? I can do all of this, like what I need you for. And I remember like, it was like, okay, like walk out, right? Six months later, they'd done nothing. You know, a year later, they're done. Two years later, the answer is there'll be the short-term thing where again, everybody goes like, I don't need you.

I own a network that like just dwarfs you, right? I can do all of this, like what I need you for. And I remember like, it was like, okay, like walk out, right? Six months later, they'd done nothing. You know, a year later, they're done. Two years later, the answer is there'll be the short-term thing where again, everybody goes like, I don't need you.

Like, is there a business in terms of smart software solutions? And yeah, that's all over the place still.

Like, is there a business in terms of smart software solutions? And yeah, that's all over the place still.

Like, is there a business in terms of smart software solutions? And yeah, that's all over the place still.

Too kind.

Too kind.

Too kind.

Well, I think you have to have that economic alignment to start off with. So I don't think you should ever take a board seat where you own too small a percentage or the size of that potential outcome vis-a-vis your fund is too small. So I really think you have to have that economic alignment because it means every time you sit down, it's like us.

Well, I think you have to have that economic alignment to start off with. So I don't think you should ever take a board seat where you own too small a percentage or the size of that potential outcome vis-a-vis your fund is too small. So I really think you have to have that economic alignment because it means every time you sit down, it's like us.