Kevin Tawil

While Jim and I had confidence, our board didn't have the same level of confidence.

So there's this element of when you're, particularly when you're doing acquisitions, you never want to bet the farm.

Like you don't want this to be, the acquisition doesn't go the way you think, then it takes the whole thing down.

My rule of thumb there is max 20, 25% of enterprise value.

I will deviate from that by commission.

We're going to get to that by the way, but yes, go ahead.

I remember one of our board members thought this was the stupidest idea in the world.

It's like, who would buy insurance for your cell phones?

At the time, you may recall, cell phones were sort of free.

They were given away as part of your wireless plan if you signed up for a contract.

And he was like, why would you do this?

This is stupid.

We had confidence we didn't know for sure, but we also knew, because the roadside assistance business at that point was so much bigger, that it wouldn't have killed us if things didn't go as we expected.

Yeah, with cash flow or debt, yeah.

We didn't have a ton of networking capital that was required to grow the business.

Not a lot of PP&A.

We inherited that structure.

There's certainly wind in our sails, if you will.

And then we'll talk a little bit about capital allocation topic.

That was an exciting time.