Hamilton Helmer

And you have to understand that in terms of what you're doing.

And if you're thinking about what's next, if you can go to things that are under your current power umbrella, oh boy, is that great.

If Porsche wants to sell cars in China as opposed to selling them in the U.S., no brainer.

Yeah, and a Chinese competitor would have to go through the same calculation, you know.

So the first point of this conversation is that to properly assess...

transforming directions, the first thing is carefully understanding your current base of power and then looking at this new segment, whether, as I say, it could be customer, geographic, technology, whatever product, and seeing whether it relies on that as well.

Because then, oh boy, a world looks rosy.

But on the other hand, if you think it does and it doesn't,

It's like Uber and China.

I don't know.

What did they lose?

A billion dollars or something.

I don't know what it was.

Yeah.

And so they used to be compensated by the shares.

And I don't know what their shares are worth now.

So anyway, so that's the starting point.

Right.

And that's such an interesting case, David, because oftentimes.

It's that kind of subtlety about locking in a distribution channel, for example, that's sort of kind of invisible, but may actually be the very thing that makes that such an... I mean, if you think of Sony, on the other hand, when they went into game consoles...