Ross Fumini

Well, it's really two things.

One, as Kobe mentioned, everybody over 65 in America is going to get Medicare.

So everyone in the U.S.

is eventually going to be a chapter customer.

And that scale of business, like that opportunity, like that is a venture scale business.

And you want to be part of companies that are building at that level.

Everyone over 65 in the country is going to enroll in Medicare services because it is the best way to get health care for the aging population in the U.S.

And that's just a point of fact.

Chapter enables my mom, my dad to make the best choice possible.

of where they should get their Medicare services.

Further, Chapter's done a tremendous job in the last few years of growth.

We grew over 3x last year to 100 million in revenue, and the reason that we keep pushing more money and more excitement into Chapter is because we see that growth continuing 3 and 4x in subsequent years, and that's really just the tip of the iceberg of building out a solution for the entire US population.

Yeah.

And so our focus area at XYZ has been largely on building and supporting companies that are selling to the government because it is the largest spender in the entire world.

So areas of defense spending is one of the largest spends in the entire world.

And that's where we backed companies like Andral.

Areas of health care spend and Medicare are one of the largest spends in the entire world.

And so that's where we backed companies like Chapter.

And when those companies are winning, when they're capturing hundreds of millions and then billions of dollars, we dollar concentrate into those businesses and we get the right to do that because we've been there since the beginning.

And so that's our economic approach.