Nathan Latka

Yes, but it's important, and I know you're open, and I think you'll talk about it.

Most people won't talk about this, so I have to take the opportunity.

But this is, I believe, what your cap table looks like.

So there's some key assumptions here.

I made the assumption that your four co-founders all own 25% at the start, so you see that in the upper right, right?

You, Doron, Carmel, and Guy.

And then I assumed 20...

20% sold on the 2014 series seed, which you confirmed earlier.

And then some of these other metrics are already public.

Like, we know you sold 16% in the series C. We just got confirmation on the series E of about 13% sale.

If all this is true, you've been diluted down to about an 8% stake in the company, assuming there was no top-up or ESOP pool.

Are you in that range today?

Yes, but this is what all the early employees at Hoppin said.

And then it crashed and burned and all their options are upside down and the employee number two gets no money.

Well, that's my question for you, right?

So you see my sort of ugly text in the bottom left, right?

As you raise more capital, your options for exiting decrease.

There's less buyers that will pay that amount of money.

So how do you turn your list?

You have not, just to be clear, he has not confirmed this.