Ron Shaich

What comes first, second, and third?

And each of my partners are

our serious C-suite operations folks that have experience, and our 25 people, we have only one that's really financially driven or thinks financially.

That was the activist investor.

That was the activist investor.

What's his name?

Noah Elbogen.

Yeah, I had 300 people chanting, you know, F-U Noah.

And later I ended up respecting the guy, but I couldn't tell anybody.

I liked him.

I made an investment in a hedge fund he had and ultimately asked him to join me in this endeavor.

But he says he's now a reformed activist.

We don't practice activism.

We help people.

And then obviously third, we only at Act Three invest where we have competitive advantage.

What does that mean?

We invest where we know something and we know how to build dominant players in very specific categories.

We're now, Act Three, as you know, is the largest independent investor in Kavai service, the German there.

We're also in a company called Tate, which is in Boston and D.C.

and now the New York market.