Steve Tuck

Bootstrap this.

Yeah, it means that Steve and I have had $200 million.

That's right.

I mean, that's like, that doesn't, so it doesn't work that way.

It's like you're getting someone to invest and that investment does not necessarily come, this is where like control and the board structure and governance all becomes like really, really important.

um and the and there are but it gets really it can get really gritty too i mean i think this is where there's a big difference between good deals and bad deals and bad deals and deals that you good investors and bad investors and um i mean just bluntly you've got there's a big difference between kind of top tier silicon valley firms and then you can you can get go pretty far down the market where

you get firms in this, I think I will say that this does tend to happen more in other geographies because I think it's just less competitive from a venture capital perspective, but where Adam, you get like, you know, participating preferred and you get ratchets and you get all this other kind of like nonsense that really does put the firm, the company's kind of in jeopardy.

Now people are raising money like that because they feel they have to, but we are not, yeah, we are not in that,

that situation, fortunately.

We have not sold the company to VCs.

We've got venture capital as investors, but we are, and resisting and shitification is very important.

I think that, yeah, I think that, that, um, to be worried about being acquired and to be worried about being an IPO and initial public offering is when you sell a fraction of your company to the public.

And that, that is not a failure of a company, by the way.

It's just, it's just, that is, uh, there's, there are a lot of great companies that are public.

So it turns out, it turns out, uh,

Yeah, that's interesting.

Yeah, the Tandex question is interesting.

I think that people are, because we do get like, you know, he's your competitor, and we kind of assumed that we started the company, there would be a competitor that would follow us, that would raise behind us another startup.

Turns out it was a little harder to raise than we thought, and I feel like we took all the good investors, so we didn't have the other ones.

That's right.