Ric Elias

There's thousands of people here.

It feels like a self-contained world.

And it is physically, literally, it's a self-contained world.

And it has a very specific, coherent vibe to it, which makes me wonder about culture.

You said there's more than a dozen companies in all sorts of places, but it feels like this is one company and one team just walking around.

Maybe say a bit about how you've designed and what it is.

What am I feeling?

How did that come to be?

Because I think those are hard to establish.

I am wonderful at explaining the world looking backwards.

We were talking earlier today.

I can give you the greatest story, which I will in a second, but I'm not really sure that when we set out to do this, this was the original plan.

This is just the ability to iterate and pivot and iterate and change and all of that.

One of the real unique things, look, we didn't raise outside capital until 2010.

a decade of bootstrap.

When we raised capital, we didn't need capital.

We didn't need it for anything.

We did it because our employees wanted a little liquidity and investors were wanting to buy in.

So as a result, and in general, ultimately, we ended up in a structure where we have permanent capital, meaning we have wonderful investors.

General Atlantic was our first investor, still a great partner.