Sam Jacobs

But one of the great things

about the world that we live in.

It's a different world.

And one of the points that I want to make right here is that even in a world of zero interest rates, I don't think this is not a moral judgment and there's no moral condemnation about companies spending more than they bring in.

It's a rational reaction

To the markets that we were in at the time, but we moved to a different market What are the one of the benefits of this market the benefits of being a profitable company?

Is that your customers control the company not your investors and that's really the essence of this slide It's a harder route right because your customers are in many ways more demanding more rigorous and you need them to stick around But it's also a more effective route because you know that there's real value that there's that you're generating so

That's, you know, and we were in a world, so using Pavilion as a specific case study, how did we approach this world where all of a sudden we had $25 million that we never had before?

Well, we expanded dramatically in a lot of different directions.

That's one of the things that we did, right?

So we had been a small bootstrap business and, you know, a lot of what Nathan talks about at Founder Path and through this conference is about

the value of bootstrap businesses, and I'd always been proud to be a bootstrap business.

But all of a sudden, I had this big balance sheet, and I felt like we needed to gain market share, and we needed to go, go, go.

So what did we do?

We built out a large B2B sales organization.

You'll hear about that later from LG, who was there and who we worked with.

We built out a large

learning organization.

We started paying our instructors a lot of money to build Pavilion University, which was a new strategic investment.

And we also built out a product and engineering organization to build our own software.