Rob Emrich

of develop a culture of innovation in Southern California.

Again, you know, I don't work at Qualcomm, so this is sort of what I understand from my interaction.

And obviously that is one of the most incredible success stories that there is in our country about a technology company running.

Sure.

So they're a very research-driven culture.

And when they spun out the enterprise in 2014, I think it was, it's a challenge for big companies to innovate, right?

It's a big, big challenge for big companies to innovate.

And they do that very successfully.

I think it becomes harder as you get along that commercialization curve.

So, you know, many times they'll have a piece of IP, like, you know, something that they built that they know has a commercial application, but it's not necessarily in the DNA of a big company to make, to commercialize it well.

They don't have that hustle.

Sure.

In a sale, the only thing that matters is how much one party's willing to pay to the other.

And so that was it.

It was a market bid and we were bidding against some very large companies.

There were financial considerations, non-financial considerations.

It was a complicated deal.

Yeah, it was a lot of those different things.

Okay, so it was a mix.

Yeah, cash, debt, equity.