Ron Shaich

came out, began in COVID, but we have lots of connections with institutional capital.

And the capital has asked us to get involved in companies.

And typically we can't, with public companies, we can't take a carry, you know, and get paid.

So we do a deal with the company with the support of their investors to take a percentage of the company in warrants.

So we have an interest with a company called BJ's out on the West Coast where we provide some strategic guidance.

We have another involvement with a company called Park Technology, which is trying to really be the source for unified commerce in restaurants.

You know, these are all strong public companies where we've been able to

And in the case of BJ's, the stock is more than doubled since we got involved.

In the case of PAR, it's held very strongly.

And so, again, what we really are in the business of doing is doing what we love to do, help figuring out.

where the future is going to be, making sure we arrive at that future before the rest of the world gets there, figuring out what those categories are, and then helping wonderful management teams build the dominant player in those categories.

And, you know, it started as a $200 million investment is now a nearly, you know, it's a $2 billion portfolio.

And it's delivered 55% returns.

And mostly we're just having fun.

I mean, we are not, yeah, we work hard, but it isn't like running a company.

The guys that are running the companies are doing the heavy lifting and we're there trying to make people think.

I love it.

Shane, we talked about something before.

I just want to mention, I sit on any number of boards.

I lead the boards of most of these companies.