Laurence Hulse

And that was working fantastically.

And they sit on the desk, a couple from me, and I overheard them talking about something.

And I kind of twigged that they could automate what Lawrence is doing every morning at 7.01, but in 30 seconds.

So every day I get any of the RNSs that have some phraseology or words and other things I don't really want to share on here because it's genuine IP.

And I get them in my inbox.

I usually get between one and five a day.

I can read those over the course of a cup of coffee.

A couple of hours a day.

It's more than saving me a couple hours a day.

It's actually prevented me missing out by not doing the second hour because it's the world.

There's one that comes to mind because we're sat in a broadcast studio and that's what they do.

In fact, I suspect some of your colleagues probably use their product.

So there is a stock called Pebble Beach Systems.

It flagged up on our screening system as a business that had some capital allocation questions.

Very quickly, just to give some context, the business has a piece of globally leading software that allows broadcasters to, in what I call layperson speak, put content in a line.

So when any of us watch a show or stream a live event, we get a continuous thread of basically various video streams.

Behind that on the other side of the screen, there are anything from 12 to 50 different cameras, think of the football match or the tennis or producing a broadcast show and all those feeds plus the adverts have been sliced and spliced and moved around and put into almost in situ into a thread.

For years, Pebble Beach had been doing that for traditional broadcasters.

That's a market that's deemed in structural decline.

So they started trying to invest in a new product.