Raising boys, not cows

Seven boys on one side of the table. The bank's review board on the other. Before they walked in, the family knelt in the bank bathroom and prayed, the father's foot braced against the door. Then he told the bankers he was raising sons, not cows, and asked for another year.

They gave it to him. The farm in Alberta is still in the family.

Mel Torrie told that story on the CEO.com Podcast on June 1, 2023, when asked what farming taught him. The lesson he took was that his father lived on the edge of bankruptcy every year and still loaded the truck with hay whenever a neighbor's cows needed it. Put people first and work hard, and you win the long game. Torrie has run Autonomous Solutions, Inc. on that idea for 26 years.

ASI makes off-road vehicles drive themselves. Torrie founded it in 2000 as a spinout from Utah State University, where he had gone after Ricks College rejected him for BYU. He wanted to design speakers for Bose and was steered into electrical engineering. As an undergraduate, he soldered payloads for the space shuttle, which got him into the university's robotics lab, where he saw a wheelchair driving itself down a hallway on ultrasonic sensors. Once a machine knows where it is, he realized, the rest is solvable.

John Deere read a paper he wrote in 1998, funded two years of work, and told him they'd partner if he started a company. He left with two professors and about five students and built an autonomous tractor for spraying orchards and vineyards. He noted, with some embarrassment, that similar robots were only reaching California vineyards at scale two decades later.

The company never took venture money. Torrie described a dinner where a Deere executive sketched Clayton Christensen's innovator's dilemma on a napkin and said, "You are our answer there." Torrie turned that into a slide and said he raised about $300 million over the years from equipment makers and large end users who could fund development without demanding an exit. SoftBank found him on LinkedIn wanting a golf course mower. He told them he doesn't take exit-driven money and won't sell his people to the highest bidder. They agreed to a licensing structure instead, then added a revenue share on his logistics business.

In 2018, he made every employee an owner through an ESOP. He had to talk his wife into it. She was the CFO. He cried when he announced it. Employees now rank the benefits they want, and ASI ties each one- training budgets, hackathon time, bonuses, vacation days, 401(k) contributions- to a gross profit formula reported every month. "My goal is to make lots of millionaires, not make me a billionaire," he said. He had once spoken at a public robotics company that was laying off 50 people with $100 million in the bank because spending it would hurt the stock and invite a takeover. He couldn't fathom it.

The biggest thing on his plate in June 2023 was mining. He called it "the rocket." The world's largest miners had funded six years of work on an autonomy system that would run on any brand of haul truck, so a mine wouldn't be locked into one manufacturer. ASI had just won what he called the largest autonomy deployment in the world, a 300-vehicle iron ore mine in Australia, starting with 100 trucks.

Thirteen months later he sold it. Epiroc, the Swedish equipment maker that had bought 34 percent of ASI Mining in 2018, agreed to take the rest. ASI announced the divestiture in May 2024, and Epiroc closed on the remaining 66 percent on July 3. Epiroc reported the unit had 2023 revenue of about 300 million Swedish kronor. The price wasn't disclosed. Within months, Epiroc dropped the ASI Mining name and renamed the software.

Whether that squares with what he told the podcast about exits is a fair question. His account is that people came first. Employees on the mining side got to choose whether to go with Epiroc or stay, he told The Robot Report, and the drivers at the mine were retrained to run the software rather than let go. He kept the parent company, kept it employee-owned, and spent the proceeds on the markets he'd been in all along: a construction unit launched with SoftBank in 2025, an exit from automotive to move that team into off-road work, and the acquisition of Scythe Robotics, a Colorado electric mower company, this March. He told the same publication that SoftBank estimates 90 to 95 percent of robot companies have died, and that bootstrapping is why ASI hasn't.

The tractor came back too. In May, U.S. Sugar announced it is running ASI's system on John Deere tractors across 255,000 acres in South Florida, the largest commercial autonomous tractor deployment in the American sugar industry, and that it will retrain every driver rather than lay one off. That was the product Torrie started with in 2000.

The podcast ends every conversation with the same question: who gave you a chance? Torrie named his parents, then his wife. She got up at 3:30 in the morning to do medical transcription to put him through school. The company nearly died three times, with every credit card and every bank line maxed, and she stayed through all three. On the third, she told him she couldn't do it anymore and that he had to take the acquisition offer on the table. The next morning she said she'd done the paperwork to borrow against the rest of their 401(k) and thought they could make payroll. Within a week, he said, the company quadrupled in value. She didn't make him sell.

He still hasn't sent a robot to the farm in Alberta. His Deere contracts wouldn't allow it. His brother, who runs the place now, keeps asking.

00:00:00 Meeting Mel Torrie
00:00:33 The Wheelchair That Sparked Autonomy
00:01:16 Farm Roots and Path to Utah
00:03:53 Spinning Out the Company with John Deere
00:05:11 Liability and the Path to Autonomous Farms
00:06:51 Thoughts on Elon Musk's Leadership Style
00:09:54 Bootstrapping and Raising Funds
00:11:15 Partnering with SoftBank Robotics
00:13:43 Focusing on Mining Automation
00:15:51 Lessons Learned Growing Up on the Farm
00:19:00 Deploying Autonomy in Global Mines
00:20:45 Building an Employee-Owned Company
00:22:43 Putting People Before Short-Term Exits
00:26:13 The Chance His Wife Gave Him

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Yeah,<00:04:03.287> but<00:04:03.448> John<00:04:03.640> Deere<00:04:03.848> saw<00:04:04.025> a<00:04:04.105> paper<00:04:04.506> I<00:04:04.650> wrote<00:04:05.452> in<00:04:05.628> '98<00:04:07.152> and<00:04:07.248> said,<00:04:07.457> hey,<00:04:07.633> we'd<00:04:07.858> love<00:04:08.018> to<00:04:08.050> do<00:04:08.194> a<00:04:08.258> project<00:04:08.659> with<00:04:08.820> you.

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And<00:04:09.140> I<00:04:09.237> was<00:04:09.541> managing<00:04:09.974> a<00:04:10.103> team<00:04:10.295> at<00:04:10.423> that<00:04:10.600> point.

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And<00:04:11.081> so<00:04:11.241> we<00:04:11.386> did<00:04:12.187> 2<00:04:12.348> years<00:04:12.604> of<00:04:12.684> development<00:04:13.166> for<00:04:13.406> Deere<00:04:13.727> and<00:04:13.871> they<00:04:13.983> said,<00:04:14.288> hey,<00:04:14.849> we<00:04:15.010> like<00:04:15.234> what<00:04:15.330> you're<00:04:15.491> doing.

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If<00:04:15.892> you<00:04:15.972> started<00:04:16.309> a<00:04:16.437> company,<00:04:16.854> we<00:04:16.998> would<00:04:17.159> partner<00:04:17.495> with<00:04:17.720> you.

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So<00:04:18.682> I<00:04:18.778> spun<00:04:19.083> out<00:04:19.259> with<00:04:19.420> 2<00:04:19.580> professors,<00:04:21.039> about<00:04:21.408> 5<00:04:21.729> students,<00:04:22.932> and<00:04:23.172> the<00:04:23.268> tech<00:04:23.429> transfer<00:04:23.990> group<00:04:24.295> was<00:04:25.273> good<00:04:25.433> luck.

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And<00:04:27.743> we<00:04:28.063> were<00:04:28.160> off<00:04:28.384> on<00:04:28.464> our<00:04:28.625> way.

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That's<00:04:29.946> incredible.

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So<00:04:31.118> what<00:04:31.217> did<00:04:31.349> you<00:04:31.415> work<00:04:31.613> on<00:04:31.828> in<00:04:31.910> those<00:04:32.109> early<00:04:32.488> days?

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We<00:04:34.142> started<00:04:34.401> with<00:04:34.627> orchard<00:04:35.015> vineyard<00:04:35.339> tractor.

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If<00:04:36.148> you<00:04:36.552> do<00:04:36.714> the<00:04:36.779> market<00:04:37.151> studies,<00:04:38.833> and<00:04:38.914> it's<00:04:39.141> kind<00:04:39.254> of<00:04:39.383> embarrassing,<00:04:39.885> but<00:04:40.046> they're<00:04:40.289> finally<00:04:41.179> starting<00:04:41.826> to<00:04:41.988> deploy<00:04:42.489> now<00:04:43.589> in<00:04:43.847> Silicon<00:04:44.331> Valley<00:04:45.607> and,<00:04:45.930> and<00:04:46.027> really<00:04:46.350> the,<00:04:46.818> the<00:04:46.915> vineyard<00:04:47.319> country<00:04:47.738> over<00:04:47.900> there,<00:04:49.670> the<00:04:50.175> robots<00:04:50.598> we<00:04:50.680> were<00:04:50.745> working<00:04:51.071> on<00:04:51.576> 20,<00:04:52.554> 23,<00:04:52.961> 24<00:04:53.368> years<00:04:53.678> ago.

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So<00:04:54.346> orchard<00:04:54.656> vineyard<00:04:55.852> tractors<00:04:56.479> that<00:04:56.575> were<00:04:56.672> spraying<00:04:57.058> dangerous<00:04:57.524> chemicals<00:04:58.087> was<00:04:58.345> a<00:04:58.490> great<00:04:58.972> application,<00:04:59.616> get<00:04:59.792> people<00:05:00.098> out<00:05:00.178> of<00:05:00.211> harm's<00:05:00.581> way,<00:05:01.546> and<00:05:01.707> also<00:05:02.607> high<00:05:02.849> utilization,<00:05:03.653> high<00:05:03.814> cash<00:05:04.200> crop.

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You're<00:05:04.779> driving<00:05:05.165> those<00:05:05.310> tractors<00:05:05.812> through<00:05:05.990> those<00:05:06.411> orchards<00:05:06.735> and<00:05:06.881> vineyards<00:05:07.286> every<00:05:07.626> 7<00:05:08.015> days,<00:05:08.485> so<00:05:09.392> it<00:05:09.538> really<00:05:09.797> fit<00:05:10.186> well.

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How<00:05:12.065> far<00:05:12.292> away<00:05:12.551> are<00:05:12.632> we<00:05:12.778> from<00:05:12.972> autonomous<00:05:13.669> farms?

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Yeah,<00:05:16.109> I<00:05:16.254> think<00:05:16.432> we're<00:05:16.593> finally<00:05:17.239> getting<00:05:17.482> close,<00:05:17.950> and<00:05:18.047> part<00:05:18.289> of<00:05:18.370> it<00:05:18.467> has<00:05:18.693> been<00:05:18.935> the<00:05:19.161> liability<00:05:20.389> concerns<00:05:20.938> about<00:05:21.180> getting<00:05:21.439> sued.

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Yeah,<00:05:22.773> we<00:05:22.917> worked<00:05:23.238> with<00:05:23.414> John<00:05:23.671> Deere<00:05:23.879> for<00:05:23.975> 11<00:05:24.376> years,<00:05:25.081> Case<00:05:25.338> New<00:05:25.482> Holland,<00:05:25.819> the<00:05:25.899> second<00:05:26.219> largest,<00:05:26.700> for<00:05:26.925> another<00:05:27.326> 8<00:05:27.486> years.

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And<00:05:28.624> the<00:05:28.784> persisting<00:05:30.291> challenge<00:05:30.852> was<00:05:32.231> there's<00:05:32.535> no<00:05:32.792> foundational<00:05:33.658> standards<00:05:34.395> to<00:05:35.020> claim<00:05:35.661> that<00:05:35.822> we're<00:05:35.998> adhering<00:05:36.559> to,<00:05:36.880> to<00:05:37.104> help<00:05:37.345> you<00:05:37.505> with<00:05:38.146> litigation<00:05:38.723> in<00:05:38.883> court.

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And<00:05:40.230> so<00:05:41.192> there<00:05:41.288> was<00:05:41.432> just<00:05:41.545> that<00:05:41.769> paranoia<00:05:42.490> that<00:05:43.452> a<00:05:43.516> farmer<00:05:43.997> disables<00:05:44.478> safeties,<00:05:44.975> which<00:05:45.215> they<00:05:45.376> always<00:05:45.696> do.

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My<00:05:47.139> dad<00:05:47.444> is<00:05:47.604> one<00:05:47.716> of<00:05:47.844> them.

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And,<00:05:50.828> and<00:05:51.733> then<00:05:51.879> how<00:05:52.138> do<00:05:52.283> you<00:05:52.445> have<00:05:52.688> enough<00:05:52.946> quantity<00:05:53.496> out<00:05:53.658> there<00:05:53.901> and<00:05:54.240> cash<00:05:54.725> to<00:05:54.823> be<00:05:54.952> able<00:05:55.130> to<00:05:55.308> defend<00:05:55.631> yourself<00:05:56.100> against<00:05:56.262> some<00:05:56.521> of<00:05:56.666> those<00:05:56.990> willful<00:05:58.090> disables<00:05:58.995> of<00:05:59.108> safety?

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And<00:06:00.062> so<00:06:01.921> we<00:06:02.083> are<00:06:02.164> finally<00:06:02.632> to<00:06:02.729> the<00:06:02.810> point<00:06:03.053> where<00:06:03.214> we<00:06:03.360> have<00:06:03.602> the<00:06:03.683> standards<00:06:04.249> maturity<00:06:06.367> that<00:06:07.725> there<00:06:07.822> is<00:06:07.968> that<00:06:08.146> comfort<00:06:08.470> level.

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And<00:06:09.668> obviously<00:06:09.927> the<00:06:10.089> prices<00:06:10.494> are<00:06:10.575> cheaper<00:06:10.898> now,<00:06:11.206> the<00:06:11.287> sensors<00:06:11.773> are<00:06:11.870> better,<00:06:13.084> but<00:06:13.246> I<00:06:13.392> think<00:06:13.894> the<00:06:13.975> biggest<00:06:14.542> fear<00:06:15.108> was<00:06:15.335> really<00:06:15.529> that<00:06:15.756> liability.

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And<00:06:17.093> you<00:06:17.237> think<00:06:17.349> we've<00:06:17.558> gotten<00:06:17.878> that<00:06:18.776> figured<00:06:19.080> out?

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Yeah,<00:06:20.699> yeah,<00:06:20.844> I<00:06:21.020> think<00:06:21.244> we're<00:06:21.341> finally<00:06:21.757> there.

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I<00:06:23.088> would<00:06:23.248> say<00:06:24.322> Elon<00:06:24.627> Musk<00:06:25.012> with<00:06:25.172> his<00:06:25.412> car<00:06:26.935> and<00:06:27.096> his<00:06:27.352> claim<00:06:27.753> around<00:06:28.378> the<00:06:28.474> human<00:06:28.875> still<00:06:29.180> has<00:06:29.532> that<00:06:29.917> oversight<00:06:31.039> is<00:06:31.183> really<00:06:31.504> how<00:06:31.744> we're<00:06:31.921> getting<00:06:32.225> there,<00:06:32.482> where<00:06:32.899> there<00:06:33.043> will<00:06:33.267> be<00:06:33.428> a<00:06:33.524> human<00:06:35.111> over<00:06:35.367> video<00:06:35.688> link,<00:06:36.329> kind<00:06:36.489> of<00:06:36.521> like<00:06:36.746> a<00:06:36.810> security<00:06:37.531> camera<00:06:37.932> system<00:06:38.333> where<00:06:38.477> you're<00:06:38.637> watching<00:06:38.974> 5<00:06:39.215> or<00:06:39.295> 10<00:06:39.455> tractors<00:06:40.016> and<00:06:40.112> that<00:06:40.321> human's<00:06:40.737> ultimately<00:06:41.860> your<00:06:42.020> backstop.

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And<00:06:43.319> so<00:06:43.447> I<00:06:43.543> think<00:06:43.688> that's<00:06:43.929> how<00:06:44.105> we're<00:06:44.811> rolling<00:06:45.212> out<00:06:45.870> now.

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So<00:06:46.817> it's<00:06:46.978> just<00:06:47.138> starting,<00:06:48.037> but<00:06:48.422> that's<00:06:48.678> really<00:06:48.919> going<00:06:49.031> to<00:06:49.160> be<00:06:49.320> the<00:06:49.465> basis<00:06:49.866> for<00:06:50.042> the<00:06:50.139> safety<00:06:50.524> case.

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What<00:06:51.711> are<00:06:51.792> your<00:06:51.888> thoughts<00:06:52.273> on<00:06:52.353> Elon?

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I<00:06:52.867> mean,<00:06:53.091> you're<00:06:53.316> in<00:06:53.396> his<00:06:53.637> industry,<00:06:55.177> he's<00:06:55.418> in<00:06:55.579> your<00:06:55.884> industry,<00:06:57.103> the<00:06:57.809> autonomous<00:06:58.692> vehicles<00:06:59.334> type<00:06:59.526> stuff.

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And,<00:07:00.152> you<00:07:00.248> know,<00:07:00.393> he's<00:07:00.794> been<00:07:00.970> saying<00:07:01.259> for<00:07:01.420> a<00:07:01.500> long<00:07:01.676> time<00:07:02.142> we're<00:07:02.463> getting<00:07:02.703> pretty<00:07:02.880> close<00:07:03.265> there.

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Seems<00:07:04.228> like<00:07:04.404> we<00:07:04.565> are<00:07:04.725> getting<00:07:05.351> really,<00:07:05.608> really<00:07:05.913> close<00:07:06.170> there.

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In<00:07:06.394> fact,<00:07:06.571> some<00:07:06.731> might<00:07:06.908> argue<00:07:07.213> we<00:07:07.357> are<00:07:07.614> there.

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Yeah.

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What<00:07:09.684> are<00:07:09.764> your<00:07:09.941> thoughts<00:07:10.342> on<00:07:10.486> him<00:07:10.968> as<00:07:11.208> an<00:07:11.529> entrepreneur,<00:07:12.187> as<00:07:12.348> a<00:07:12.412> CEO,<00:07:12.909> as<00:07:13.006> a<00:07:13.150> leader?

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Wow.

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I,<00:07:18.311> I<00:07:18.408> want<00:07:18.714> to<00:07:18.956> do<00:07:19.198> obviously<00:07:19.537> what<00:07:19.698> he's<00:07:19.940> done,<00:07:20.182> which<00:07:20.408> is<00:07:20.505> disrupt<00:07:20.973> industries,<00:07:21.457> and<00:07:21.876> you<00:07:22.037> can't<00:07:22.424> argue<00:07:22.747> his<00:07:22.925> record.

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And<00:07:25.956> thrilled<00:07:26.358> that<00:07:26.487> he<00:07:26.584> hasn't<00:07:26.987> really<00:07:27.953> tried<00:07:28.356> to<00:07:28.436> put<00:07:28.662> all<00:07:28.774> of<00:07:28.903> his<00:07:29.145> money<00:07:29.403> against<00:07:29.789> any<00:07:29.966> of<00:07:30.047> our<00:07:30.192> markets.

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He's<00:07:31.256> trying<00:07:31.433> to<00:07:31.498> get<00:07:31.595> into<00:07:31.772> mining<00:07:32.159> now,<00:07:32.400> but<00:07:32.561> not<00:07:32.803> really<00:07:33.125> the<00:07:33.287> autonomy,<00:07:33.834> just<00:07:34.012> try<00:07:34.189> to<00:07:34.318> secure<00:07:34.737> some<00:07:34.914> of<00:07:34.979> the<00:07:35.124> rare<00:07:35.381> earth<00:07:37.154> materials<00:07:37.702> for<00:07:37.944> his,<00:07:38.588> for<00:07:38.749> his<00:07:38.910> batteries.

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But<00:07:40.613> I<00:07:40.757> think<00:07:41.894> our<00:07:41.974> styles<00:07:42.375> are<00:07:42.455> definitely<00:07:42.856> different.

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Uh,<00:07:44.602> the—<00:07:45.964> my<00:07:46.140> goal<00:07:46.444> is<00:07:46.685> to<00:07:46.797> make<00:07:47.085> lots<00:07:47.278> of<00:07:47.342> millionaires,<00:07:47.902> not<00:07:48.143> make<00:07:48.383> me<00:07:48.543> a<00:07:48.623> billionaire.

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And<00:07:49.441> so<00:07:49.665> I<00:07:49.745> think<00:07:49.985> that's,<00:07:50.626> that's<00:07:50.882> different<00:07:51.251> in<00:07:51.347> how<00:07:51.491> you<00:07:51.587> treat<00:07:51.892> people,<00:07:52.228> and<00:07:52.389> that<00:07:53.526> if<00:07:53.654> you<00:07:53.750> do<00:07:53.911> it<00:07:54.007> right,<00:07:54.311> you<00:07:54.391> should<00:07:54.712> be<00:07:54.872> able<00:07:55.096> to<00:07:56.154> excel<00:07:56.714> and<00:07:57.099> even<00:07:57.499> exceed<00:07:58.461> companies<00:07:58.941> where<00:07:59.118> it<00:07:59.262> is<00:08:00.704> all<00:08:00.864> about<00:08:01.905> the<00:08:01.985> big<00:08:02.162> dog<00:08:02.482> and<00:08:02.642> where<00:08:03.043> the,<00:08:03.764> the<00:08:03.908> product<00:08:04.341> or<00:08:04.469> the<00:08:04.805> customer<00:08:05.174> or<00:08:05.350> the<00:08:05.382> shareholder<00:08:05.927> is<00:08:06.151> ahead<00:08:06.391> of<00:08:06.552> people<00:08:06.824> and<00:08:06.968> priority.

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So,<00:08:08.106> so<00:08:08.266> we<00:08:08.410> differ<00:08:08.795> there.

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In<00:08:10.564> just<00:08:10.806> how<00:08:11.208> to<00:08:11.370> treat<00:08:11.627> people.

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But<00:08:12.901> man,<00:08:14.029> you<00:08:14.125> can't<00:08:14.432> argue<00:08:14.690> the<00:08:14.835> hard<00:08:15.076> work<00:08:15.415> and<00:08:15.657> the<00:08:15.818> disruption.

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And<00:08:17.536> it's<00:08:18.747> ironic<00:08:19.215> and<00:08:19.312> fun<00:08:19.635> that<00:08:19.797> he's<00:08:20.119> been<00:08:20.345> saying<00:08:21.153> we're<00:08:21.314> almost<00:08:21.653> there<00:08:21.895> for<00:08:22.057> quite<00:08:22.299> some<00:08:22.541> time,<00:08:23.833> but<00:08:24.059> we're<00:08:24.156> so<00:08:24.333> much<00:08:24.624> closer<00:08:25.044> because<00:08:25.383> of<00:08:25.528> how<00:08:25.754> he<00:08:25.900> pushes.

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That<00:08:27.775> we're<00:08:27.953> almost<00:08:28.357> there<00:08:28.599> brings<00:08:28.923> the<00:08:29.004> investment<00:08:29.489> money,<00:08:29.796> almost<00:08:30.071> there<00:08:30.297> keeps<00:08:30.604> his<00:08:30.782> people<00:08:31.105> engaged<00:08:31.671> and<00:08:31.817> motivated,<00:08:34.000> but<00:08:34.135> it's<00:08:34.330> hard.

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So<00:08:35.346> hard.

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And<00:08:35.908> so<00:08:36.165> it<00:08:36.309> just<00:08:37.368> keeps<00:08:37.754> the<00:08:37.850> ball<00:08:38.091> moving<00:08:38.492> forward.

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And<00:08:39.069> so<00:08:39.294> you<00:08:39.438> do<00:08:39.599> have<00:08:39.856> to,<00:08:40.433> to<00:08:40.578> push<00:08:40.979> and<00:08:41.845> take<00:08:42.022> some<00:08:42.247> risks<00:08:42.664> and<00:08:43.851> try<00:08:44.269> to<00:08:44.349> be<00:08:44.573> there<00:08:44.750> as<00:08:44.910> fast<00:08:45.167> as<00:08:45.312> possible.

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And<00:08:45.954> you're<00:08:46.579> usually<00:08:47.061> wrong.

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It<00:08:47.542> usually<00:08:47.863> takes<00:08:48.104> longer,<00:08:48.441> but<00:08:48.601> that's<00:08:48.842> okay.

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I,<00:08:50.591> I<00:08:50.752> did,<00:08:51.233> I<00:08:51.329> did<00:08:51.490> find—<00:08:51.971> I<00:08:52.051> have<00:08:52.292> found<00:08:53.159> one<00:08:53.271> of<00:08:53.335> our<00:08:53.496> keys<00:08:53.752> to<00:08:53.881> success<00:08:54.458> is<00:08:54.539> the<00:08:54.635> naïveté<00:08:55.967> of<00:08:56.224> believing<00:08:57.090> how<00:08:57.186> close<00:08:57.507> we<00:08:57.668> were.

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Like,<00:08:58.855> that's<00:08:59.096> been<00:08:59.192> the<00:08:59.272> key.

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If<00:08:59.674> we<00:08:59.818> knew<00:09:00.075> how<00:09:00.235> much<00:09:00.476> it<00:09:00.556> would<00:09:00.652> take,<00:09:01.118> we<00:09:01.278> never<00:09:01.663> would<00:09:01.744> have<00:09:01.840> gotten<00:09:02.065> here.

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You<00:09:03.043> never.

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And<00:09:04.101> so<00:09:05.046> I<00:09:05.207> can<00:09:05.431> trace<00:09:05.752> that<00:09:05.928> back<00:09:06.185> in<00:09:06.313> each<00:09:06.489> of<00:09:06.585> our<00:09:06.730> industries<00:09:08.236> that<00:09:09.390> our<00:09:09.615> lack<00:09:10.000> of<00:09:10.160> understanding<00:09:10.961> of<00:09:11.122> the<00:09:11.218> complexities<00:09:12.164> was<00:09:12.340> the<00:09:12.500> key,<00:09:13.045> one<00:09:13.141> of<00:09:13.222> the<00:09:13.526> vital<00:09:13.847> keys<00:09:14.103> to<00:09:14.183> success.

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That<00:09:15.305> seems<00:09:15.706> to<00:09:15.850> be<00:09:16.988> naivete<00:09:18.095> and<00:09:18.255> maybe<00:09:18.816> like<00:09:19.473> this<00:09:19.697> whole<00:09:19.858> idea,<00:09:20.050> like<00:09:20.419> I<00:09:20.515> can<00:09:20.675> do<00:09:20.836> this<00:09:21.156> and<00:09:21.220> it<00:09:21.316> won't<00:09:21.557> take<00:09:21.797> as<00:09:21.878> long<00:09:22.198> as<00:09:22.519> maybe<00:09:22.935> it<00:09:22.984> actually<00:09:23.304> will.

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Yeah,<00:09:24.186> seems<00:09:24.362> to<00:09:24.458> sum<00:09:24.827> up<00:09:24.987> entrepreneurship<00:09:26.029> actually<00:09:26.526> in<00:09:26.783> a<00:09:26.927> lot<00:09:27.151> of<00:09:27.183> ways,<00:09:27.408> right?

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You<00:09:28.049> kind<00:09:28.289> of<00:09:28.321> need<00:09:28.610> that<00:09:28.754> at<00:09:28.850> the<00:09:28.931> beginning.

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Yeah,<00:09:29.877> I<00:09:30.054> get<00:09:30.295> paranoid<00:09:30.841> when<00:09:31.017> people<00:09:31.419> say,<00:09:32.206> this<00:09:32.383> time<00:09:32.768> we're<00:09:32.929> really<00:09:33.250> going<00:09:33.362> to<00:09:33.427> figure<00:09:33.732> out<00:09:33.892> how<00:09:34.021> long<00:09:34.117> it's<00:09:34.278> going<00:09:34.567> to<00:09:34.727> take.

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Because<00:09:36.382> the<00:09:36.462> more<00:09:36.703> you<00:09:36.783> bring<00:09:37.024> all<00:09:37.120> of<00:09:37.185> that<00:09:37.361> paranoia<00:09:38.084> in,<00:09:38.325> the<00:09:39.353> estimates<00:09:40.156> and<00:09:40.574> the<00:09:40.718> financial<00:09:41.521> burden<00:09:42.180> is<00:09:42.340> so<00:09:42.517> monstrous<00:09:43.143> that<00:09:43.288> no<00:09:43.448> one<00:09:43.529> will<00:09:43.689> go<00:09:43.850> with<00:09:44.011> you.

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You<00:09:44.669> have<00:09:44.894> to<00:09:44.990> bring<00:09:45.215> some<00:09:45.456> optimism,<00:09:46.018> your<00:09:46.179> best<00:09:46.500> guesses,<00:09:47.865> and<00:09:48.042> you<00:09:48.202> go<00:09:48.443> as<00:09:48.604> far<00:09:48.829> as<00:09:48.925> you<00:09:49.005> can,<00:09:49.552> and<00:09:49.728> more<00:09:49.937> money<00:09:50.210> comes<00:09:51.093> and<00:09:51.800> confidence<00:09:52.940> grows<00:09:53.278> and<00:09:53.406> you<00:09:53.502> get<00:09:53.663> closer.

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Did<00:09:54.964> you<00:09:55.189> bootstrap<00:09:55.751> this<00:09:55.976> thing<00:09:56.217> for<00:09:56.715> a<00:09:56.795> while,<00:09:57.132> and<00:09:57.261> how<00:09:57.502> were<00:09:57.598> you<00:09:57.678> able<00:09:57.919> to<00:09:57.999> do<00:09:58.160> that?

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Yeah,<00:09:59.911> I<00:09:59.991> was<00:10:00.232> in<00:10:01.195> a<00:10:01.276> restaurant<00:10:01.693> with<00:10:01.838> a<00:10:01.918> John<00:10:02.111> Deere<00:10:02.271> executive<00:10:02.817> probably<00:10:03.139> 24<00:10:05.467> years<00:10:05.788> ago,<00:10:06.977> and<00:10:07.137> he<00:10:07.298> pulled<00:10:07.539> out<00:10:07.635> a<00:10:07.651> napkin<00:10:09.305> at<00:10:09.402> the<00:10:09.546> table<00:10:10.124> and<00:10:10.269> started<00:10:10.606> sketching<00:10:11.088> out<00:10:12.116> Clayton<00:10:12.437> Christensen's<00:10:14.219> model<00:10:14.621> around<00:10:15.022> the<00:10:15.167> Innovator's<00:10:15.585> Dilemma<00:10:16.147> and<00:10:16.371> how<00:10:17.415> these<00:10:17.672> big<00:10:17.817> companies<00:10:18.218> struggle<00:10:18.556> to<00:10:18.636> innovate.

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And<00:10:21.366> he<00:10:21.510> said,<00:10:21.912> you<00:10:22.089> are<00:10:22.313> our<00:10:22.474> answer<00:10:22.875> there.

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And<00:10:23.759> I<00:10:23.791> knew<00:10:24.016> that<00:10:24.176> that<00:10:24.337> was<00:10:24.562> on<00:10:24.819> every<00:10:26.103> innovation<00:10:26.970> executive's<00:10:27.773> desk<00:10:28.496> or<00:10:28.672> bookshelf<00:10:29.636> in<00:10:29.780> these<00:10:29.957> big<00:10:30.117> companies.

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And<00:10:30.744> so<00:10:30.920> I<00:10:31.001> created<00:10:31.402> a<00:10:31.418> slide<00:10:32.606> and<00:10:32.687> raised<00:10:33.473> about<00:10:33.730> $300<00:10:34.132> million<00:10:35.015> with<00:10:35.320> that<00:10:36.058> slide<00:10:36.701> of<00:10:36.845> saying,<00:10:37.584> we<00:10:37.744> are<00:10:37.889> the<00:10:38.049> answer<00:10:38.467> to<00:10:38.788> the<00:10:38.949> challenges<00:10:39.414> you<00:10:39.575> have<00:10:39.912> as<00:10:40.073> a<00:10:40.153> public<00:10:40.538> company<00:10:41.518> trying<00:10:41.983> to<00:10:42.160> innovate,<00:10:43.268> or<00:10:43.589> as<00:10:44.568> a<00:10:44.649> venture<00:10:44.954> capital<00:10:45.355> or<00:10:45.452> private<00:10:45.837> equity<00:10:46.335> that's<00:10:46.736> pushing<00:10:47.137> for<00:10:47.378> exits<00:10:47.844> and<00:10:48.342> not<00:10:48.583> quite<00:10:48.823> aligned<00:10:49.225> with<00:10:49.450> what<00:10:49.610> the<00:10:49.690> customers<00:10:50.188> want.

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So<00:10:51.953> That's<00:10:52.274> been<00:10:52.418> the<00:10:52.515> key.

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So<00:10:53.012> we've<00:10:53.317> really<00:10:54.118> funded<00:10:54.503> that<00:10:54.760> through<00:10:56.123> large<00:10:56.428> end<00:10:56.588> users<00:10:57.069> like<00:10:57.390> the<00:10:57.711> world's<00:10:57.967> largest<00:10:58.288> mining<00:10:58.529> companies,<00:10:59.715> large<00:10:59.972> farms,<00:11:00.597> co-ops,<00:11:01.014> those<00:11:01.175> kinds<00:11:01.399> of<00:11:01.495> things,<00:11:01.800> as<00:11:01.960> well<00:11:02.201> as<00:11:03.019> the<00:11:03.099> monster<00:11:04.703> OEMs,<00:11:05.986> equipment<00:11:06.467> manufacturers<00:11:07.509> that<00:11:08.536> just<00:11:08.872> struggle<00:11:09.434> to<00:11:09.658> innovate<00:11:10.075> with<00:11:10.316> the<00:11:10.396> pressures<00:11:10.941> of<00:11:11.743> the<00:11:11.839> public<00:11:12.160> markets<00:11:12.561> and<00:11:12.721> quarterly<00:11:13.683> outlooks.

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Yeah.

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And<00:11:15.592> if<00:11:15.624> I'm<00:11:15.832> not<00:11:15.929> mistaken,<00:11:16.730> you've<00:11:16.891> taken<00:11:17.147> money<00:11:17.356> from<00:11:17.532> SoftBank<00:11:18.318> recently,<00:11:18.799> which<00:11:18.976> is<00:11:19.056> like<00:11:19.296> the<00:11:19.537> behemoth<00:11:20.740> in<00:11:20.964> the<00:11:22.038> funding<00:11:22.744> and<00:11:22.904> financing<00:11:23.529> world.

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What<00:11:23.850> was<00:11:24.010> that<00:11:24.251> like?

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Yeah,<00:11:25.068> so<00:11:25.469> it's<00:11:27.232> been<00:11:27.456> so<00:11:27.713> awesome.

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So<00:11:28.739> they<00:11:28.835> came<00:11:29.075> to<00:11:29.156> us<00:11:29.412> through<00:11:29.701> LinkedIn<00:11:30.101> and<00:11:30.214> said,<00:11:30.454> hey,<00:11:31.239> we<00:11:31.336> see<00:11:31.560> you're<00:11:31.720> the<00:11:31.865> leaders<00:11:32.217> in<00:11:32.346> outdoor<00:11:32.762> autonomy.

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We<00:11:35.311> want<00:11:35.583> an<00:11:35.664> autonomous<00:11:36.209> golf<00:11:36.385> course<00:11:36.754> mower.

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And<00:11:38.437> I<00:11:38.533> said,<00:11:38.773> well,<00:11:38.998> we<00:11:39.094> don't<00:11:39.254> take<00:11:39.495> exit-driven<00:11:40.056> money<00:11:41.482> and<00:11:42.781> I'm<00:11:43.117> not<00:11:43.326> going<00:11:43.502> to<00:11:43.566> sell<00:11:43.823> my<00:11:43.983> people<00:11:44.223> to<00:11:44.304> the<00:11:44.400> highest<00:11:44.784> bidder.

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And<00:11:46.371> so<00:11:46.852> they<00:11:46.964> agreed<00:11:47.333> to<00:11:47.894> a<00:11:48.600> non-exit-driven<00:11:49.513> investment<00:11:50.298> and<00:11:50.554> place<00:11:50.875> the<00:11:50.955> valuation<00:11:51.516> of<00:11:51.580> our<00:11:51.740> company<00:11:52.093> more<00:11:52.541> on<00:11:53.663> a<00:11:53.743> licensing<00:11:54.400> deal<00:11:55.025> with<00:11:56.467> the<00:11:56.563> technology<00:11:57.268> for<00:11:58.070> the<00:11:58.166> golf<00:11:58.486> course<00:11:58.887> autonomy.

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And,<00:12:01.691> and<00:12:01.771> then<00:12:01.931> they<00:12:02.012> said,<00:12:02.717> oh,<00:12:02.893> you're,<00:12:03.838> you're<00:12:03.999> also<00:12:04.335> doing<00:12:05.537> logistics<00:12:06.098> trucks<00:12:06.498> around<00:12:07.876> distribution<00:12:08.485> centers<00:12:08.982> and<00:12:09.126> ports,<00:12:10.024> we'd<00:12:10.168> like<00:12:10.360> a<00:12:10.424> piece<00:12:10.664> of<00:12:10.729> that<00:12:10.905> too.

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I<00:12:11.225> said,<00:12:11.386> well,<00:12:11.530> you<00:12:11.626> can<00:12:11.770> put<00:12:11.946> money<00:12:12.187> into<00:12:12.347> that,<00:12:12.732> but<00:12:12.844> I'm,<00:12:12.988> again,<00:12:13.324> I'm<00:12:13.453> not<00:12:13.613> exiting.

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And<00:12:14.094> so<00:12:14.270> they<00:12:14.414> agreed<00:12:14.751> to<00:12:16.580> a<00:12:17.222> revenue<00:12:17.720> share<00:12:19.150> for<00:12:19.487> that<00:12:19.808> product<00:12:20.193> line<00:12:20.450> as<00:12:20.675> well.

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And<00:12:21.157> so<00:12:21.896> just<00:12:22.056> been<00:12:22.201> incredible<00:12:22.619> people<00:12:22.892> to<00:12:23.004> work<00:12:23.181> with.

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Couldn't<00:12:23.919> say<00:12:25.108> enough<00:12:25.509> good<00:12:25.814> about<00:12:26.248> the—<00:12:26.794> and<00:12:26.939> it's<00:12:27.099> really,<00:12:27.276> it's<00:12:27.581> the<00:12:27.613> SoftBank<00:12:28.143> Robotics<00:12:28.705> group.

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So<00:12:29.203> obviously<00:12:29.460> they<00:12:29.605> pull<00:12:29.845> from<00:12:30.793> a<00:12:30.889> common<00:12:31.211> set<00:12:31.435> of<00:12:31.532> money<00:12:31.789> and<00:12:31.917> leadership,<00:12:32.495> but<00:12:33.282> they're<00:12:33.379> focused<00:12:33.764> on<00:12:33.941> building<00:12:34.422> great<00:12:34.888> companies.

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And<00:12:37.072> so<00:12:37.233> we've<00:12:37.394> been<00:12:38.020> very<00:12:38.197> fortunate<00:12:38.662> with<00:12:38.823> them<00:12:38.935> as<00:12:39.080> a<00:12:39.144> partner.

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Yeah,<00:12:40.365> autonomous<00:12:41.087> lawn<00:12:41.408> mowers<00:12:42.356> are<00:12:43.079> out<00:12:43.336> there<00:12:43.512> now.

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Like,<00:12:44.042> that's<00:12:44.235> a<00:12:44.444> thing.

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Yeah.

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Um,<00:12:45.970> were,<00:12:46.532> were<00:12:46.708> you<00:12:46.869> guys<00:12:47.190> behind<00:12:47.656> all<00:12:47.752> of<00:12:47.897> that<00:12:48.315> acceleration<00:12:49.118> and<00:12:49.182> putting,<00:12:49.583> getting<00:12:49.824> that<00:12:49.985> into<00:12:50.146> the<00:12:50.226> market?

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That<00:12:51.832> would<00:12:51.928> be<00:12:52.073> fun<00:12:52.250> to<00:12:52.394> pretend,<00:12:52.892> but<00:12:53.535> I<00:12:53.679> would<00:12:53.840> say<00:12:54.113> no.

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Obviously<00:12:54.819> we<00:12:54.964> worked<00:12:55.221> with<00:12:55.301> John<00:12:55.623> Deere<00:12:56.490> for<00:12:56.667> years<00:12:57.052> on<00:12:57.229> mowing.

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That<00:12:58.096> was<00:12:58.208> our<00:12:58.353> second<00:12:59.156> effort<00:12:59.542> was<00:13:01.164> golf<00:13:01.389> course<00:13:01.646> mowing<00:13:01.887> with<00:13:02.047> them<00:13:03.412> in<00:13:03.814> 2001.

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And<00:13:06.625> so<00:13:07.813> sure,<00:13:08.086> something<00:13:08.552> might<00:13:08.713> have<00:13:08.793> filtered<00:13:09.114> there,<00:13:09.355> but<00:13:09.500> it's<00:13:09.660> really<00:13:09.917> some<00:13:10.158> of<00:13:10.222> these<00:13:10.335> smaller<00:13:12.793> mower<00:13:13.211> companies<00:13:13.757> that<00:13:13.934> took<00:13:14.175> an<00:13:14.255> MVP-style<00:13:15.235> approach<00:13:15.701> and<00:13:15.766> we're<00:13:15.846> just<00:13:16.023> going<00:13:16.103> to<00:13:16.248> randomly<00:13:17.790> drive<00:13:18.112> around<00:13:18.417> your<00:13:18.513> yard<00:13:18.835> and<00:13:18.915> bounce<00:13:19.301> off<00:13:19.461> a<00:13:19.558> wire.

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And<00:13:20.924> then<00:13:21.165> the<00:13:21.245> tech<00:13:21.486> has<00:13:21.631> just<00:13:21.743> gotten<00:13:22.048> better<00:13:22.209> and<00:13:22.354> better<00:13:22.530> and<00:13:22.675> better<00:13:22.932> to<00:13:23.093> where<00:13:23.350> now<00:13:23.735> finally,<00:13:24.941> and<00:13:25.037> it's<00:13:25.262> been<00:13:25.744> 20<00:13:26.049> years,<00:13:26.467> they're<00:13:26.692> able<00:13:26.933> to<00:13:27.110> drive<00:13:27.431> a<00:13:27.576> decent<00:13:27.977> line<00:13:28.315> and<00:13:28.476> make<00:13:28.700> it<00:13:28.797> look<00:13:29.022> okay.

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And<00:13:29.906> that's<00:13:30.147> really<00:13:30.404> on<00:13:30.548> the<00:13:30.645> consumer<00:13:31.063> side.

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We've<00:13:32.653> really<00:13:33.617> been<00:13:33.778> pushing<00:13:34.180> to<00:13:34.324> lead<00:13:34.646> on<00:13:35.144> the<00:13:35.304> bigger<00:13:35.626> equipment<00:13:36.269> that<00:13:36.510> is<00:13:37.073> less<00:13:37.299> consumer,<00:13:38.368> but<00:13:38.756> higher<00:13:39.080> margin,<00:13:40.051> higher<00:13:40.310> utilization,<00:13:41.119> commercial<00:13:42.657> type<00:13:42.883> work.

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What's<00:13:43.935> your<00:13:44.049> main<00:13:44.356> focus<00:13:44.745> right<00:13:44.923> now?

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Like,<00:13:45.311> what<00:13:45.424> is<00:13:45.570> the<00:13:45.700> main,<00:13:46.472> uh,<00:13:46.892> thing<00:13:47.060> you're<00:13:47.161> trying<00:13:47.396> to<00:13:47.480> produce?

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The<00:13:49.860> rocket<00:13:50.181> right<00:13:50.358> now<00:13:50.599> is<00:13:50.824> really<00:13:51.161> around<00:13:51.788> mining.

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We've—<00:13:54.617> our<00:13:54.697> competitors<00:13:56.224> like<00:13:56.385> Cat<00:13:56.610> and<00:13:56.771> Komatsu<00:13:57.189> spent<00:13:57.398> between<00:13:57.816> $300<00:13:58.237> to<00:13:58.318> $500<00:13:58.803> million,<00:13:59.532> is<00:13:59.774> the<00:14:00.001> estimates<00:14:00.422> by<00:14:01.231> people<00:14:01.539> from<00:14:01.782> those<00:14:01.960> companies,<00:14:02.753> and<00:14:03.462> So<00:14:03.703> we've<00:14:03.863> been<00:14:04.007> working<00:14:04.344> for<00:14:04.585> quite<00:14:04.890> some<00:14:05.146> time<00:14:05.531> with<00:14:05.772> end<00:14:05.932> users<00:14:06.414> who<00:14:07.312> really<00:14:07.537> want<00:14:07.633> to<00:14:07.793> avoid<00:14:08.258> being<00:14:08.515> stuck<00:14:08.980> with<00:14:09.157> a<00:14:09.221> single<00:14:09.622> color<00:14:10.841> of<00:14:11.002> equipment<00:14:11.467> so<00:14:11.643> that<00:14:11.804> they<00:14:11.964> can<00:14:12.189> only<00:14:12.525> buy<00:14:12.910> from<00:14:14.130> a<00:14:14.210> Caterpillar,<00:14:14.932> only<00:14:15.236> have<00:14:16.456> their<00:14:16.760> data<00:14:17.017> stack,<00:14:18.236> their<00:14:18.461> infrastructure,<00:14:19.584> and<00:14:19.889> only<00:14:20.209> really<00:14:20.450> be<00:14:20.562> able<00:14:20.707> to<00:14:20.851> plug<00:14:21.108> in<00:14:21.268> their<00:14:21.830> equipment.

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And<00:14:22.952> so<00:14:23.097> the<00:14:23.193> end<00:14:23.337> users<00:14:23.658> have<00:14:23.755> funded<00:14:24.059> us<00:14:24.236> for<00:14:24.380> 16<00:14:24.797> years<00:14:25.182> with<00:14:25.359> millions<00:14:25.696> of<00:14:25.840> dollars<00:14:26.321> to<00:14:26.642> bring<00:14:27.845> an<00:14:28.150> OEM<00:14:28.471> agnostic<00:14:29.032> solution<00:14:29.385> to<00:14:29.465> the<00:14:29.530> market.

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And<00:14:30.492> so<00:14:30.958> we're<00:14:31.198> in<00:14:31.295> a<00:14:31.311> mode<00:14:31.696> now<00:14:32.001> where<00:14:32.242> it's<00:14:33.686> how<00:14:33.879> fast<00:14:34.248> can<00:14:34.408> you<00:14:34.505> make<00:14:34.810> them?

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And<00:14:35.532> that's<00:14:35.773> a<00:14:35.853> wonderful<00:14:36.270> place<00:14:36.527> to<00:14:36.671> be.

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So<00:14:37.089> scaling,<00:14:37.618> we're<00:14:37.779> using<00:14:38.517> a<00:14:38.581> great<00:14:38.822> partner<00:14:39.801> in<00:14:39.946> Salt<00:14:40.202> Lake<00:14:41.631> and<00:14:42.690> doing<00:14:42.931> the<00:14:43.011> production<00:14:43.573> there.

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And<00:14:44.616> we<00:14:44.777> are<00:14:44.921> really<00:14:45.178> doing<00:14:45.419> the<00:14:45.499> product<00:14:45.820> development,<00:14:46.301> final<00:14:46.703> QA<00:14:46.943> and<00:14:47.248> testing<00:14:47.746> for<00:14:48.789> building<00:14:50.458> automation<00:14:50.956> solutions<00:14:51.839> on<00:14:51.999> top<00:14:52.320> of<00:14:52.545> the<00:14:53.042> 200<00:14:53.235> to<00:14:53.347> 400-ton<00:14:54.070> trucks<00:14:54.647> as<00:14:54.888> fast<00:14:55.225> as<00:14:55.370> we<00:14:55.450> can<00:14:55.594> make<00:14:55.755> them.

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What<00:14:57.023> are<00:14:57.055> you<00:14:57.215> doing<00:14:57.440> on<00:14:57.536> these<00:14:57.745> 100<00:14:58.258> acres<00:14:58.675> up<00:14:58.820> there<00:14:58.980> in<00:14:59.125> northern<00:14:59.526> Utah?

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Hey,<00:15:00.986> we<00:15:01.612> have<00:15:01.949> a<00:15:02.029> proving<00:15:02.350> ground,<00:15:02.655> so<00:15:02.848> we've<00:15:03.794> got<00:15:03.955> a<00:15:04.019> bunch<00:15:04.276> of<00:15:04.741> asphalt<00:15:05.078> test<00:15:05.303> tracks<00:15:05.720> that<00:15:05.880> we<00:15:06.041> can<00:15:06.266> clear<00:15:07.084> winter<00:15:08.673> and<00:15:08.769> get<00:15:08.913> all<00:15:09.010> the<00:15:09.090> snow<00:15:09.411> off.

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And<00:15:10.213> we,<00:15:11.096> we<00:15:11.176> have<00:15:11.336> a<00:15:11.401> command<00:15:11.738> center.

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We'd<00:15:12.363> love<00:15:12.540> to<00:15:12.684> have<00:15:12.845> you<00:15:12.941> up,<00:15:13.102> Clint,<00:15:13.422> to<00:15:13.743> drive<00:15:14.000> some<00:15:14.161> autonomous<00:15:14.706> vehicles.

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Yeah.

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And<00:15:15.846> so<00:15:16.054> we've<00:15:16.150> got<00:15:16.375> this<00:15:16.536> big<00:15:16.696> command<00:15:17.017> center<00:15:17.354> with<00:15:17.579> lots<00:15:17.900> of<00:15:17.980> screens,<00:15:18.477> and<00:15:18.557> we<00:15:18.718> have<00:15:20.307> mostly<00:15:20.644> kids<00:15:20.964> just<00:15:21.125> graduating<00:15:21.622> from<00:15:21.831> high<00:15:21.943> school<00:15:22.312> will<00:15:22.473> run<00:15:22.649> this<00:15:22.890> video<00:15:23.211> game-like<00:15:23.757> interface<00:15:24.334> that<00:15:24.511> can<00:15:24.719> control<00:15:25.056> all<00:15:25.201> this<00:15:25.377> equipment<00:15:25.859> and<00:15:26.019> orchestrate<00:15:27.308> the<00:15:27.389> movement<00:15:28.749> of<00:15:28.992> these<00:15:29.252> vehicles<00:15:29.802> and,<00:15:30.709> and<00:15:30.807> really<00:15:31.033> replicates<00:15:31.681> what<00:15:32.005> we're<00:15:32.248> doing<00:15:32.572> down<00:15:32.815> in<00:15:32.896> mining,<00:15:33.285> for<00:15:33.382> example,<00:15:33.787> in<00:15:33.933> Australia,<00:15:34.500> where<00:15:35.956> the<00:15:37.185> truck<00:15:37.428> drivers<00:15:37.832> have<00:15:37.994> now<00:15:38.156> been<00:15:38.318> trained.

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They<00:15:38.803> commit<00:15:39.110> never<00:15:39.288> to<00:15:39.369> lay<00:15:39.531> anyone<00:15:39.919> off<00:15:40.097> and<00:15:40.242> they<00:15:40.404> retrain<00:15:40.889> the<00:15:40.986> drivers.

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Some<00:15:41.649> of<00:15:41.714> them<00:15:41.876> now<00:15:42.118> run<00:15:42.345> our<00:15:42.523> software<00:15:43.153> from<00:15:43.331> 800<00:15:43.671> miles<00:15:44.059> away<00:15:44.449> and<00:15:44.547> run<00:15:44.856> the<00:15:44.938> mine<00:15:45.769> and<00:15:45.851> don't<00:15:46.079> have<00:15:46.258> to<00:15:46.340> leave<00:15:46.503> their<00:15:46.666> families<00:15:47.237> and<00:15:47.400> fly<00:15:47.807> into<00:15:48.068> a<00:15:48.133> camp<00:15:48.541> in<00:15:48.606> the<00:15:48.639> middle<00:15:48.867> of<00:15:49.030> nowhere.

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What<00:15:51.852> lessons<00:15:52.266> did<00:15:52.432> you<00:15:52.465> learn<00:15:52.780> as<00:15:52.945> a<00:15:53.028> farmer<00:15:53.592> growing<00:15:53.857> up?

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Hey,<00:15:56.967> I<00:15:57.451> haven't<00:15:57.710> gotten<00:15:58.016> that<00:15:58.194> one.

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I<00:15:59.244> would<00:15:59.421> say<00:16:02.376> one<00:16:02.473> of<00:16:02.554> the<00:16:02.634> biggies<00:16:03.038> for<00:16:03.183> me<00:16:03.410> has<00:16:03.620> been<00:16:05.610> you're<00:16:05.771> really<00:16:06.095> at<00:16:06.208> the<00:16:06.289> mercy<00:16:07.146> of<00:16:07.551> the<00:16:07.648> weather<00:16:08.360> and<00:16:09.913> call<00:16:10.074> it<00:16:10.236> fate,<00:16:10.948> uh,<00:16:11.676> whatever.

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And<00:16:13.327> from<00:16:13.619> my<00:16:13.878> parents,<00:16:14.688> I<00:16:14.786> saw<00:16:15.175> that<00:16:15.401> they<00:16:15.580> survived<00:16:16.795> on<00:16:16.876> the<00:16:16.957> brink<00:16:17.200> of<00:16:17.281> bankruptcy<00:16:18.156> every<00:16:18.496> year,<00:16:19.307> and<00:16:19.452> yet<00:16:19.614> they<00:16:19.777> always<00:16:20.117> gave.

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When<00:16:20.802> the<00:16:20.898> next-door<00:16:21.748> neighbor<00:16:22.085> needed<00:16:22.791> hay<00:16:23.048> for<00:16:23.208> their<00:16:23.369> cows,<00:16:24.957> my<00:16:25.197> dad<00:16:25.599> loaded<00:16:25.855> up<00:16:26.016> the<00:16:26.096> truck<00:16:26.417> and<00:16:26.561> we<00:16:26.738> took<00:16:26.978> bales<00:16:27.379> over<00:16:27.620> to<00:16:27.764> them.

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And<00:16:30.347> we<00:16:30.507> literally<00:16:31.133> were<00:16:31.293> on<00:16:31.470> the<00:16:31.550> verge<00:16:31.807> of<00:16:31.871> bankruptcy<00:16:32.432> every<00:16:32.593> year.

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I<00:16:32.833> remember<00:16:33.299> one<00:16:33.475> year<00:16:34.678> he<00:16:34.823> brought<00:16:35.143> all<00:16:35.256> 7<00:16:35.625> of<00:16:35.721> us<00:16:35.897> boys,<00:16:36.363> his<00:16:36.523> sons,<00:16:37.470> to<00:16:37.646> the<00:16:37.806> bank<00:16:38.191> review<00:16:38.528> board<00:16:38.929> for<00:16:39.635> a<00:16:39.731> bankruptcy<00:16:40.277> hearing.

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And<00:16:42.058> the<00:16:42.122> 7<00:16:42.459> of<00:16:42.555> them<00:16:42.763> were<00:16:42.924> on<00:16:43.100> one<00:16:43.261> side<00:16:43.517> of<00:16:43.598> the<00:16:43.742> table.

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He<00:16:44.769> put<00:16:45.009> all<00:16:45.106> of<00:16:45.250> us<00:16:46.148> on<00:16:46.309> the<00:16:46.453> other<00:16:46.629> side.

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And<00:16:49.527> pled<00:16:49.835> his<00:16:50.013> case<00:16:50.255> that<00:16:50.433> I'm<00:16:50.579> raising<00:16:50.983> boys,<00:16:51.323> not<00:16:51.614> cows.

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And<00:16:53.894> just<00:16:54.217> every<00:16:54.460> year<00:16:54.703> we<00:16:54.864> had<00:16:55.042> the<00:16:55.123> miracles<00:16:55.657> we<00:16:55.754> needed<00:16:56.158> because<00:16:56.708> he<00:16:56.870> put<00:16:57.290> his<00:16:57.420> neighbors<00:16:57.854> first<00:16:59.124> over<00:16:59.300> his<00:16:59.525> own<00:16:59.702> financial<00:17:00.104> return<00:17:00.828> and<00:17:01.712> worked<00:17:01.937> his<00:17:02.049> tail<00:17:02.355> off.

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And<00:17:03.400> so<00:17:03.561> we<00:17:03.705> learned<00:17:03.882> that<00:17:04.107> hard<00:17:04.364> work,<00:17:04.766> and<00:17:04.927> then<00:17:05.233> you<00:17:05.329> put<00:17:05.570> people<00:17:05.876> first,<00:17:06.524> and<00:17:06.767> you,<00:17:07.497> you<00:17:07.675> will<00:17:07.919> win.

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You<00:17:08.308> will<00:17:08.486> win<00:17:08.713> that<00:17:08.875> infinite<00:17:09.216> game<00:17:09.540> as<00:17:09.702> far<00:17:09.864> as<00:17:10.513> keeping<00:17:10.837> it<00:17:10.983> going<00:17:11.793> and<00:17:12.037> ultimately<00:17:12.620> producing<00:17:13.107> results.

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Yeah,<00:17:14.554> I<00:17:14.634> come<00:17:14.795> from<00:17:15.116> nowhere<00:17:15.774> near<00:17:15.982> the<00:17:16.143> operation<00:17:16.608> it<00:17:16.640> sounds<00:17:16.881> like<00:17:17.025> you<00:17:17.122> were<00:17:17.282> doing,<00:17:17.523> but,<00:17:17.828> um,<00:17:18.165> I<00:17:18.245> come<00:17:18.406> from<00:17:18.566> a<00:17:18.646> bit<00:17:18.807> of<00:17:18.903> a<00:17:18.967> farming<00:17:19.369> background<00:17:19.674> myself.

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I<00:17:20.893> love<00:17:21.279> what<00:17:21.359> you<00:17:21.455> just<00:17:21.696> said,<00:17:22.097> that<00:17:22.193> your<00:17:22.338> dad<00:17:22.579> told<00:17:22.739> the<00:17:22.819> bankers<00:17:23.221> that<00:17:23.317> I'm<00:17:23.542> raising<00:17:24.168> boys,<00:17:24.665> not<00:17:24.970> cows.

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That's<00:17:26.334> pretty<00:17:26.912> beautiful.

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It's<00:17:28.356> bold.

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I,<00:17:29.143> I<00:17:29.223> can't<00:17:29.560> believe<00:17:29.897> it<00:17:30.026> still.

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Like,<00:17:31.085> we,<00:17:31.711> we<00:17:31.807> went<00:17:32.032> to<00:17:32.128> the<00:17:32.289> bank,<00:17:33.492> we<00:17:33.637> went<00:17:33.797> into<00:17:33.894> the<00:17:33.990> bathroom,<00:17:34.375> we<00:17:34.519> all<00:17:34.616> knelt<00:17:34.856> down<00:17:35.258> and<00:17:35.402> had<00:17:35.515> a<00:17:35.643> prayer<00:17:35.964> in<00:17:36.044> the<00:17:36.124> bathroom.

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My<00:17:36.622> dad<00:17:36.943> put<00:17:37.007> his<00:17:37.184> foot<00:17:37.328> up<00:17:37.440> against<00:17:37.729> the<00:17:37.826> door,<00:17:38.548> then<00:17:38.708> we<00:17:38.933> walked<00:17:39.270> in<00:17:40.538> And<00:17:41.340> just<00:17:41.742> for<00:17:41.982> him<00:17:42.400> to—<00:17:42.640> because<00:17:43.282> that's—<00:17:43.764> I<00:17:43.844> don't<00:17:44.069> think<00:17:44.165> that's<00:17:44.406> what<00:17:44.550> they<00:17:44.710> want<00:17:44.839> to<00:17:44.951> hear,<00:17:45.208> right?

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They<00:17:45.593> want<00:17:45.930> to<00:17:46.010> know,<00:17:46.219> yeah,<00:17:46.572> I've<00:17:46.652> got<00:17:46.749> a<00:17:46.813> financial<00:17:47.294> return<00:17:47.695> coming.

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We<00:17:48.113> got<00:17:48.321> these<00:17:48.642> 300<00:17:49.140> cows.

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We're<00:17:49.782> going<00:17:50.087> to<00:17:50.183> sell<00:17:50.504> some<00:17:50.664> great<00:17:50.905> calves<00:17:51.226> this<00:17:51.387> year.

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But<00:17:52.365> he<00:17:52.510> was<00:17:52.751> very<00:17:52.991> clear<00:17:53.393> on<00:17:53.537> his<00:17:53.714> mission.

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And<00:17:55.399> I<00:17:55.559> can't<00:17:55.816> imagine<00:17:56.281> the<00:17:56.361> scene<00:17:56.682> of<00:17:56.827> us<00:17:57.068> kids,<00:17:58.448> but<00:17:59.090> they<00:17:59.250> went<00:17:59.491> for<00:17:59.651> it<00:17:59.892> and<00:18:00.053> just<00:18:00.277> gave<00:18:00.454> us<00:18:00.614> another<00:18:00.919> year.

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Yeah.

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What<00:18:01.898> was<00:18:02.043> their<00:18:02.155> response<00:18:02.684> to<00:18:02.781> that?

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The<00:18:03.182> bankers,<00:18:03.567> they<00:18:03.663> were<00:18:03.808> probably<00:18:04.145> stunned.

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I<00:18:05.348> think<00:18:05.589> so.

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I,<00:18:06.697> Obviously<00:18:07.099> they<00:18:07.275> closed<00:18:07.661> the<00:18:07.757> door<00:18:08.063> and<00:18:08.159> had<00:18:08.320> their<00:18:08.464> deliberations,<00:18:09.284> and<00:18:09.428> ultimately<00:18:10.794> we<00:18:10.890> got<00:18:11.147> it.

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So<00:18:11.436> I,<00:18:11.934> I<00:18:12.095> don't<00:18:12.336> know<00:18:12.497> what<00:18:12.722> they<00:18:12.818> said.

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I—<00:18:13.525> they<00:18:13.621> didn't<00:18:13.862> seem<00:18:14.087> like<00:18:14.264> cheery<00:18:14.585> folks<00:18:14.971> to<00:18:15.067> me.

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They<00:18:15.453> weren't<00:18:15.694> high-fiving<00:18:16.353> when<00:18:16.513> we<00:18:16.674> told<00:18:16.915> that<00:18:17.076> story,<00:18:18.441> but<00:18:18.602> they,<00:18:19.807> they<00:18:19.968> bet<00:18:20.193> on<00:18:20.369> us,<00:18:20.755> and<00:18:21.012> the<00:18:21.157> farm's<00:18:21.526> still<00:18:21.671> in<00:18:21.719> the<00:18:21.815> family.

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My<00:18:22.362> brother<00:18:22.699> was<00:18:22.860> working<00:18:23.165> at<00:18:23.261> Ford<00:18:23.599> in<00:18:23.743> finance,<00:18:24.225> and<00:18:24.306> he<00:18:24.450> came<00:18:24.627> back<00:18:24.948> to<00:18:25.029> take<00:18:25.253> it<00:18:25.334> over<00:18:25.510> from<00:18:25.671> my<00:18:25.832> dad<00:18:26.233> and<00:18:27.037> building<00:18:27.294> a<00:18:27.422> great<00:18:27.599> program<00:18:28.001> with<00:18:28.161> his<00:18:28.322> son<00:18:29.431> and<00:18:29.527> another<00:18:29.832> brother.

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And<00:18:31.294> so<00:18:31.455> it<00:18:31.535> worked.

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They<00:18:32.162> made<00:18:32.355> the<00:18:32.435> right<00:18:32.660> bet.

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Does<00:18:33.667> any<00:18:33.781> of<00:18:33.846> the<00:18:33.912> machinery<00:18:34.515> or<00:18:34.662> anything<00:18:35.054> you've<00:18:35.233> done<00:18:35.870> operate<00:18:36.359> on<00:18:36.784> the<00:18:36.930> family<00:18:37.273> farm?

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Now<00:18:39.667> you're<00:18:39.845> pulling<00:18:40.152> out<00:18:40.249> my<00:18:40.411> hypocrisy.

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We<00:18:42.174> have<00:18:42.579> been<00:18:42.821> restricted<00:18:43.566> by,<00:18:44.779> like<00:18:44.957> our<00:18:45.022> partners<00:18:45.491> with<00:18:45.604> Deere<00:18:45.847> said,<00:18:46.154> you<00:18:46.300> really<00:18:46.559> can't<00:18:47.772> just<00:18:47.999> go<00:18:48.177> rogue<00:18:48.516> and<00:18:48.630> deploy<00:18:49.146> outside.

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And<00:18:50.130> so<00:18:51.324> we<00:18:51.550> haven't<00:18:51.889> been<00:18:52.034> able<00:18:52.357> to<00:18:53.163> go<00:18:53.405> outside<00:18:53.728> of<00:18:53.760> those<00:18:53.986> bounds.

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So<00:18:54.454> my<00:18:54.632> brother's<00:18:55.035> begging,<00:18:55.503> but<00:18:55.842> we<00:18:56.148> have<00:18:56.390> not<00:18:56.664> sent<00:18:56.971> any<00:18:57.132> autonomy<00:18:57.697> up<00:18:57.842> there.

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On<00:18:58.672> the<00:18:58.752> mining<00:18:59.074> front,<00:18:59.395> where<00:18:59.539> are<00:18:59.796> you?

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What,<00:19:00.664> what<00:19:00.824> mine<00:19:01.081> are<00:19:01.226> you<00:19:01.322> working<00:19:01.644> on?

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What<00:19:02.045> material,<00:19:02.527> what<00:19:02.672> minerals,<00:19:03.330> what<00:19:03.491> are<00:19:03.555> you<00:19:03.716> doing<00:19:04.615> in<00:19:04.776> that<00:19:05.242> whole<00:19:05.354> space?

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Right<00:19:07.506> now,<00:19:08.053> iron<00:19:08.454> ore<00:19:09.177> has<00:19:09.354> been<00:19:09.498> the<00:19:09.595> biggest.

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Gold<00:19:11.345> and<00:19:11.683> coal<00:19:12.084> have<00:19:12.325> been<00:19:13.851> programs<00:19:14.478> in<00:19:14.558> the<00:19:14.654> past.

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So<00:19:16.004> we<00:19:16.341> had<00:19:16.502> a<00:19:16.566> mine<00:19:16.823> running<00:19:17.224> in<00:19:17.385> the<00:19:17.530> Ukraine<00:19:18.188> that's<00:19:18.493> obviously<00:19:19.056> been<00:19:19.232> paused.

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We've<00:19:20.822> run<00:19:20.983> in<00:19:21.224> Africa<00:19:21.947> and<00:19:22.204> Elko,<00:19:22.445> Nevada,<00:19:23.633> and<00:19:24.518> really<00:19:25.002> in<00:19:25.180> the<00:19:25.567> outback<00:19:25.986> or<00:19:26.067> the<00:19:26.147> Pilbara,<00:19:26.696> they<00:19:26.873> call<00:19:27.115> it<00:19:27.357> in<00:19:27.664> Australia,<00:19:28.906> is<00:19:29.051> where<00:19:29.212> the<00:19:29.374> biggest<00:19:29.857> autonomy<00:19:30.761> center<00:19:31.148> of<00:19:31.309> the<00:19:31.390> world<00:19:31.632> is.

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And<00:19:33.159> we've<00:19:34.043> just<00:19:34.348> won<00:19:34.589> the<00:19:34.685> largest<00:19:35.200> deployment<00:19:35.714> in<00:19:35.794> the<00:19:35.891> world<00:19:36.196> of<00:19:36.309> autonomy,<00:19:36.855> which<00:19:37.161> will<00:19:37.257> be—<00:19:38.945> it's<00:19:39.105> a<00:19:39.122> mine<00:19:39.443> of<00:19:39.523> 300<00:19:40.070> vehicles.

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There<00:19:41.337> will<00:19:41.434> be<00:19:41.740> 100<00:19:42.466> of<00:19:42.644> the<00:19:42.886> big<00:19:43.128> trucks<00:19:43.531> as<00:19:43.693> the<00:19:43.838> first<00:19:44.161> rollout.

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And<00:19:44.580> that's<00:19:45.064> what<00:19:45.226> we're<00:19:45.452> pounding<00:19:45.855> out<00:19:46.016> right<00:19:46.274> now.

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And<00:19:48.372> then<00:19:48.679> every<00:19:49.001> additional<00:19:49.485> vehicle<00:19:49.905> as<00:19:50.131> fast<00:19:50.405> as<00:19:50.550> we<00:19:50.680> can.

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So<00:19:51.117> we've<00:19:51.278> been<00:19:51.424> asked<00:19:51.991> to<00:19:52.104> start<00:19:52.476> on<00:19:52.573> the<00:19:52.654> second<00:19:53.124> round<00:19:53.383> of<00:19:53.544> different<00:19:53.755> kinds<00:19:53.884> of<00:19:53.933> vehicles.

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To<00:19:55.404> deploy<00:19:55.807> there.

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But<00:19:56.918> we<00:19:57.079> have<00:19:57.256> to<00:19:57.321> have<00:19:57.498> all<00:19:57.578> of<00:19:57.659> those<00:19:57.900> vehicles<00:19:58.303> in<00:19:58.384> that<00:19:58.561> same<00:19:58.867> video<00:19:59.270> game-like<00:19:59.978> interface<00:20:00.719> of<00:20:03.039> autonomy<00:20:03.602> for<00:20:04.005> all<00:20:04.070> the<00:20:04.102> safety<00:20:04.588> interactions<00:20:05.787> and<00:20:05.884> make<00:20:06.046> sure<00:20:06.354> that<00:20:06.516> we're<00:20:06.678> optimizing<00:20:07.245> that<00:20:07.423> flow<00:20:07.828> of<00:20:08.541> iron<00:20:08.946> ore<00:20:09.432> out<00:20:09.545> of<00:20:09.691> that<00:20:09.999> mine.

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And<00:20:10.663> so<00:20:10.906> it's,<00:20:12.024> it's<00:20:12.186> really<00:20:14.550> an<00:20:14.696> AI<00:20:15.020> and<00:20:15.182> machine<00:20:15.522> learning<00:20:15.846> kind<00:20:16.024> of<00:20:16.154> optimization<00:20:17.061> to<00:20:18.016> move<00:20:18.583> material<00:20:19.085> as<00:20:19.247> fast<00:20:19.506> as<00:20:19.587> you<00:20:19.717> can.

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And<00:20:20.057> right<00:20:20.219> now,<00:20:21.798> harder<00:20:22.218> because<00:20:22.606> you<00:20:22.768> have<00:20:23.026> a<00:20:23.042> lot<00:20:23.333> of<00:20:23.430> humans<00:20:24.480> in<00:20:24.642> the<00:20:24.787> loop.

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And<00:20:25.288> so<00:20:25.514> you're<00:20:25.611> trying<00:20:25.838> to<00:20:25.935> interact<00:20:26.258> safely<00:20:26.662> around<00:20:26.969> humans<00:20:27.793> and<00:20:28.019> optimize<00:20:28.439> an<00:20:28.585> operation<00:20:29.069> that<00:20:29.247> has<00:20:29.489> human<00:20:29.700> interaction.

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It's<00:20:31.582> interesting<00:20:31.923> to<00:20:31.972> hear<00:20:32.151> you<00:20:32.248> say<00:20:32.492> like,<00:20:32.735> hey,<00:20:32.962> we<00:20:33.043> don't—<00:20:33.287> we're<00:20:33.368> not<00:20:33.530> looking<00:20:33.790> for<00:20:33.952> exits.

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We<00:20:35.154> want<00:20:35.300> to<00:20:35.397> build<00:20:35.576> this<00:20:35.819> long<00:20:36.063> term.

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And<00:20:38.013> you've<00:20:38.225> obviously<00:20:38.567> done<00:20:38.811> that.

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I<00:20:39.072> mean,<00:20:39.300> you've<00:20:39.382> been<00:20:39.545> in<00:20:39.626> business<00:20:39.952> for<00:20:40.278> a<00:20:40.686> very<00:20:40.930> long<00:20:41.158> time.

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What<00:20:42.055> is<00:20:42.218> the<00:20:42.397> end<00:20:42.625> goal?

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So<00:20:45.912> in<00:20:46.082> 2018,<00:20:48.107> I<00:20:48.188> finally<00:20:48.576> got<00:20:48.819> my<00:20:49.061> wish<00:20:49.627> of<00:20:50.354> making<00:20:50.629> everyone<00:20:51.017> owners.

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And<00:20:51.485> so<00:20:52.633> as<00:20:52.778> you<00:20:52.956> consider<00:20:53.829> the<00:20:53.926> challenge<00:20:54.427> of<00:20:54.572> aligning<00:20:55.041> hundreds<00:20:55.396> of<00:20:55.510> people,<00:20:57.414> getting<00:20:57.593> them<00:20:57.723> to<00:20:57.805> make<00:20:57.984> the<00:20:58.065> kind<00:20:58.293> of<00:20:58.375> decisions<00:21:01.305> that<00:21:01.419> are<00:21:01.630> optimal,<00:21:02.266> as<00:21:02.429> optimal<00:21:02.771> as<00:21:02.935> possible,<00:21:03.995> to<00:21:04.076> get<00:21:04.239> the<00:21:04.386> level<00:21:04.712> of<00:21:04.875> effort,<00:21:05.365> to<00:21:05.544> get<00:21:05.854> the<00:21:05.952> camaraderie<00:21:07.257> and<00:21:07.338> alignment,<00:21:08.486> I<00:21:08.582> think<00:21:08.824> back<00:21:09.082> to<00:21:09.162> those<00:21:09.323> early<00:21:09.613> days<00:21:09.951> where<00:21:10.112> there<00:21:10.257> were<00:21:10.434> 10<00:21:10.660> of<00:21:10.756> us<00:21:11.868> and<00:21:12.609> that<00:21:12.834> ownership<00:21:13.172> mindset<00:21:13.639> was<00:21:13.800> really<00:21:14.122> it.

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So<00:21:15.334> I<00:21:15.415> was<00:21:15.722> able<00:21:15.900> to<00:21:16.224> convince<00:21:16.547> my<00:21:16.709> wife,<00:21:16.983> who<00:21:17.032> was<00:21:17.177> the<00:21:17.258> CFO<00:21:17.662> at<00:21:17.743> the<00:21:17.840> time,<00:21:18.810> that<00:21:19.295> we<00:21:19.457> should<00:21:19.699> give<00:21:19.926> everyone<00:21:20.330> ownership<00:21:20.685> through<00:21:20.912> an<00:21:21.057> ESOP.

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And<00:21:24.614> it<00:21:24.760> was<00:21:24.873> funny,<00:21:25.117> someone<00:21:25.377> even<00:21:25.589> asked<00:21:25.767> why<00:21:25.995> was<00:21:26.239> I<00:21:26.337> crying.

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I<00:21:27.312> teared<00:21:27.621> up<00:21:27.800> as<00:21:28.044> we<00:21:28.125> made<00:21:28.369> that<00:21:28.596> announcement<00:21:29.084> to<00:21:29.182> our<00:21:29.344> employees<00:21:30.076> that<00:21:31.116> they<00:21:31.279> were<00:21:31.442> all<00:21:31.539> going<00:21:31.685> to<00:21:31.718> be<00:21:31.929> owners.

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And<00:21:33.544> so,<00:21:33.787> we<00:21:34.595> allocated<00:21:35.015> shares.

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And<00:21:38.006> what's<00:21:38.249> fun<00:21:38.426> about<00:21:38.733> that<00:21:38.960> is<00:21:39.138> it<00:21:39.283> really<00:21:39.607> provides<00:21:40.253> that<00:21:40.593> long-term<00:21:41.320> strategy<00:21:41.967> where<00:21:42.371> I<00:21:42.436> can<00:21:42.616> turn<00:21:42.845> it<00:21:42.944> over<00:21:43.189> to<00:21:43.337> like-minded<00:21:43.844> people<00:21:44.172> who<00:21:44.237> will<00:21:44.417> put<00:21:44.663> people<00:21:44.876> first.

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From<00:21:47.206> the,<00:21:47.466> the<00:21:47.612> foundation<00:21:48.195> of<00:21:48.422> the<00:21:48.519> team<00:21:48.844> that<00:21:48.989> has<00:21:49.168> made<00:21:49.395> all<00:21:49.508> of<00:21:49.638> this<00:21:49.751> possible.

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I've<00:21:50.951> just<00:21:51.113> seen<00:21:51.437> too<00:21:51.583> many<00:21:51.842> friends<00:21:52.313> who've<00:21:53.285> sold<00:21:53.626> companies,<00:21:55.614> and<00:21:56.199> the<00:21:56.345> people<00:21:56.621> that<00:21:56.832> help<00:21:57.076> them<00:21:57.254> get<00:21:57.498> there<00:21:57.969> are<00:21:59.999> really<00:22:00.324> sidelined.

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Their<00:22:00.990> benefits<00:22:01.477> are<00:22:01.558> cut<00:22:01.802> quickly<00:22:02.208> by<00:22:02.370> the<00:22:02.467> big<00:22:02.614> companies.

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They<00:22:04.093> struggle<00:22:04.499> to<00:22:04.596> produce<00:22:05.635> because<00:22:06.122> of<00:22:06.268> the,<00:22:06.609> the<00:22:06.755> quarterly<00:22:07.096> earnings<00:22:08.379> and,<00:22:08.622> and<00:22:08.736> some<00:22:09.028> of<00:22:09.190> the,<00:22:09.758> the<00:22:09.856> challenges<00:22:10.570> with<00:22:10.748> that.

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And<00:22:11.432> the<00:22:11.576> turnover<00:22:12.057> in<00:22:12.218> leadership.

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So<00:22:14.399> the<00:22:14.479> vision<00:22:14.800> is<00:22:14.960> really<00:22:15.345> an<00:22:15.425> employee-owned<00:22:16.066> company<00:22:16.548> that<00:22:16.788> is<00:22:16.948> in<00:22:17.349> for<00:22:17.446> the<00:22:17.542> long<00:22:17.911> haul<00:22:18.392> to,<00:22:19.274> to<00:22:19.370> build<00:22:19.690> an<00:22:19.787> incredible<00:22:20.332> company<00:22:20.813> that<00:22:21.134> is<00:22:22.641> leading<00:22:23.042> in<00:22:23.138> the<00:22:23.218> industrial<00:22:23.924> automation<00:22:24.437> space.

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So<00:22:24.998> across<00:22:26.249> outdoor<00:22:26.570> industrial<00:22:27.227> equipment<00:22:28.654> and<00:22:30.114> prove<00:22:30.579> that<00:22:30.755> putting<00:22:30.996> people<00:22:31.300> first<00:22:31.557> should<00:22:31.942> be<00:22:32.038> able<00:22:32.198> to<00:22:32.583> outperform<00:22:34.379> those<00:22:35.406> short-term<00:22:36.352> exit<00:22:36.672> in<00:22:36.769> 3<00:22:37.009> to<00:22:37.089> 7<00:22:37.474> years<00:22:38.372> and<00:22:38.468> sell<00:22:38.693> your<00:22:38.853> people<00:22:39.110> to<00:22:39.254> the<00:22:39.334> highest<00:22:39.719> bidder<00:22:40.040> and<00:22:40.361> go<00:22:40.537> buy<00:22:40.617> an<00:22:40.842> island<00:22:41.163> or<00:22:41.243> start<00:22:41.499> another<00:22:41.804> company.

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Yeah,<00:22:43.712> that's,<00:22:44.129> that's<00:22:44.306> a<00:22:44.386> remarkably<00:22:45.268> different<00:22:45.669> strategy<00:22:46.230> than<00:22:46.471> we<00:22:46.695> hear<00:22:47.433> from<00:22:47.914> most<00:22:48.315> companies<00:22:48.956> and<00:22:49.037> CEOs<00:22:49.598> these<00:22:49.838> days.

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There<00:22:50.624> are<00:22:50.720> not<00:22:50.961> many<00:22:51.201> books<00:22:51.506> on<00:22:51.602> that.

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It's<00:22:52.003> not<00:22:52.260> really<00:22:52.565> celebrated.

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And<00:22:54.553> as<00:22:54.714> you,<00:22:55.596> as<00:22:55.692> you<00:22:55.836> talk<00:22:56.109> about<00:22:57.199> who<00:22:57.295> are<00:22:57.392> the<00:22:57.520> great<00:22:57.777> leaders,<00:22:58.418> it's<00:22:58.643> how<00:22:58.755> many<00:22:59.043> exits,<00:22:59.380> how<00:22:59.541> big<00:22:59.701> was<00:22:59.941> their<00:23:00.166> raise,<00:23:00.968> how<00:23:01.064> big<00:23:01.224> was<00:23:01.385> their<00:23:01.609> exit.

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It<00:23:02.010> is<00:23:02.187> not<00:23:03.454> how<00:23:03.550> did<00:23:03.774> they<00:23:04.648> treat<00:23:04.889> their<00:23:04.986> people<00:23:05.309> and<00:23:05.389> build<00:23:05.615> a<00:23:05.712> long-enduring<00:23:06.422> enterprise<00:23:07.002> that<00:23:07.551> scaled<00:23:08.438> and<00:23:09.486> stayed<00:23:09.889> within<00:23:10.147> the<00:23:10.293> family.

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And<00:23:11.921> by<00:23:12.083> the<00:23:12.163> family,<00:23:12.470> I<00:23:12.567> mean<00:23:13.535> these<00:23:13.842> employees,<00:23:14.407> this<00:23:14.649> team<00:23:14.972> that<00:23:15.133> helped<00:23:15.375> make<00:23:15.634> it<00:23:15.714> possible.

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I<00:23:16.603> was<00:23:17.313> speaking<00:23:17.717> at<00:23:17.749> a<00:23:17.814> public<00:23:18.298> robotics<00:23:18.766> company<00:23:19.105> once,<00:23:20.980> and<00:23:21.174> they<00:23:21.254> were<00:23:21.400> laying<00:23:21.642> off<00:23:21.820> 50<00:23:22.144> people<00:23:22.467> and<00:23:22.548> had<00:23:22.693> $100<00:23:23.033> million<00:23:23.340> in<00:23:23.437> the<00:23:23.518> bank.

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And<00:23:23.986> I<00:23:24.003> said,<00:23:24.229> what<00:23:24.342> are<00:23:24.391> you<00:23:24.488> doing?

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They<00:23:25.555> said,<00:23:25.781> well,<00:23:27.479> if<00:23:27.640> we<00:23:27.802> spend<00:23:28.287> more<00:23:28.529> of<00:23:28.675> our<00:23:29.677> savings<00:23:30.388> than<00:23:31.200> our<00:23:31.282> stock<00:23:31.545> price<00:23:31.856> will<00:23:31.938> drop,<00:23:33.087> Boeing<00:23:33.415> will<00:23:33.579> buy<00:23:33.760> us<00:23:34.006> and<00:23:34.088> move<00:23:34.334> us<00:23:34.482> to<00:23:34.580> Georgia.

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And<00:23:37.024> so<00:23:37.218> these<00:23:37.476> people<00:23:37.782> that<00:23:37.879> have<00:23:37.976> sacrificed<00:23:38.702> and<00:23:38.847> brought<00:23:39.186> their<00:23:39.961> hands,<00:23:40.945> mind,<00:23:41.268> and<00:23:41.413> heart<00:23:41.688> to<00:23:41.833> the<00:23:41.978> table<00:23:43.043> are<00:23:43.124> just<00:23:43.366> dumped.

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And<00:23:44.721> I<00:23:44.883> just,<00:23:45.770> I<00:23:45.851> just<00:23:46.028> can't<00:23:46.400> fathom<00:23:46.657> that.

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And<00:23:46.979> I,<00:23:47.800> I<00:23:47.881> guess<00:23:48.106> the<00:23:48.187> long-term<00:23:48.605> bet<00:23:48.911> is<00:23:49.088> that<00:23:50.119> you<00:23:50.199> will<00:23:50.376> get<00:23:50.537> more<00:23:50.763> of<00:23:50.924> their<00:23:52.292> hands,<00:23:52.630> heart,<00:23:53.033> and<00:23:53.258> mind<00:23:54.627> if<00:23:54.723> you<00:23:54.868> do<00:23:55.029> put<00:23:55.190> them<00:23:55.367> first.

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If<00:23:55.770> they<00:23:55.931> do<00:23:56.094> see<00:23:56.420> that,<00:23:56.764> you<00:23:56.935> get<00:23:57.107> that<00:23:59.040> retain<00:24:00.683> retention<00:24:01.713> of<00:24:01.891> their<00:24:02.197> on-board,<00:24:02.760> and<00:24:02.938> they<00:24:03.099> give<00:24:03.324> everything<00:24:03.727> they've<00:24:03.888> got<00:24:04.146> because<00:24:05.434> you're<00:24:05.596> aligned<00:24:05.998> with<00:24:06.981> their<00:24:07.206> needs<00:24:07.528> and<00:24:07.609> interests<00:24:08.109> and<00:24:08.400> what,<00:24:08.803> what<00:24:08.965> they<00:24:09.127> care<00:24:09.304> about.

00:24:10.031 --> 00:24:14.878
Their<00:24:10.257> owners,<00:24:10.580> you<00:24:10.677> give<00:24:10.839> them<00:24:11.001> a<00:24:11.081> voice<00:24:11.550> and<00:24:11.647> you<00:24:11.873> help<00:24:12.131> them<00:24:13.327> reap<00:24:13.585> the<00:24:13.731> rewards<00:24:14.296> as<00:24:14.393> an<00:24:14.539> owner.

00:24:15.266 --> 00:24:25.195
You<00:24:15.346> give<00:24:15.524> them<00:24:15.702> a<00:24:15.766> choice<00:24:16.170> in<00:24:16.251> the<00:24:16.300> benefits,<00:24:16.881> in<00:24:17.123> the<00:24:18.027> R&D<00:24:18.527> spending,<00:24:19.238> in<00:24:19.480> the<00:24:19.787> hackathon<00:24:22.128> spending,<00:24:22.628> as<00:24:22.773> far<00:24:22.951> as<00:24:23.177> what<00:24:23.516> time<00:24:23.839> they<00:24:23.936> get<00:24:24.065> to<00:24:24.178> spend<00:24:24.468> on<00:24:24.565> their<00:24:24.791> own<00:24:24.888> projects.

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On<00:24:27.271> the<00:24:27.431> training<00:24:27.929> budget.

00:24:28.732 --> 00:24:32.857
And<00:24:28.876> so<00:24:29.037> I've<00:24:29.133> just<00:24:29.374> tied<00:24:29.679> formulas<00:24:30.337> to<00:24:30.562> gross<00:24:30.883> profit<00:24:31.300> for<00:24:31.525> everything<00:24:32.006> that<00:24:32.103> they've<00:24:32.327> asked<00:24:32.584> for.

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And<00:24:33.547> then<00:24:33.772> we<00:24:33.868> just<00:24:34.109> jointly<00:24:34.511> try<00:24:34.751> to<00:24:34.880> maximize<00:24:35.538> that<00:24:35.715> gross<00:24:36.020> profit<00:24:36.437> and<00:24:37.384> get<00:24:37.625> the<00:24:37.705> things<00:24:38.042> that<00:24:38.524> we<00:24:38.764> aspire<00:24:39.230> to<00:24:39.262> make<00:24:39.471> our<00:24:39.631> journey<00:24:39.888> better.

00:24:40.851 --> 00:24:47.128
And<00:24:40.916> so<00:24:41.012> there's<00:24:41.188> like<00:24:41.397> a<00:24:41.477> way<00:24:41.718> where<00:24:41.831> they<00:24:42.136> vote<00:24:42.762> on<00:24:42.938> what<00:24:43.163> the<00:24:43.259> company<00:24:43.644> does<00:24:44.287> and<00:24:45.170> what<00:24:45.587> they<00:24:45.924> themselves<00:24:46.390> would<00:24:46.470> even<00:24:46.646> be<00:24:46.775> working<00:24:47.032> on.

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Yep.

00:24:48.091 --> 00:24:52.650
So<00:24:48.252> we,<00:24:48.557> we<00:24:48.701> do<00:24:48.878> surveys<00:24:49.985> and<00:24:50.082> so<00:24:50.306> we've<00:24:50.547> asked,<00:24:50.788> hey,<00:24:50.964> what<00:24:51.125> benefits,<00:24:51.687> rank<00:24:51.992> these<00:24:52.168> benefits.

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Importance<00:24:54.026> to<00:24:54.252> you.

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And<00:24:55.716> we<00:24:55.877> literally<00:24:56.424> report<00:24:56.987> on<00:24:57.164> that<00:24:58.113> formula<00:24:59.480> every<00:24:59.738> month<00:25:00.124> with,<00:25:01.025> we<00:25:01.121> made<00:25:01.330> this<00:25:01.507> much<00:25:01.668> gross<00:25:01.974> profit<00:25:02.312> and<00:25:02.781> the<00:25:02.943> robots<00:25:03.364> that<00:25:03.461> we've<00:25:03.688> shipped.

00:25:04.497 --> 00:25:18.427
That<00:25:04.740> means<00:25:05.695> our<00:25:05.856> training<00:25:06.196> budget<00:25:06.536> or<00:25:06.666> your<00:25:06.828> hackathon<00:25:07.410> budget<00:25:07.961> or<00:25:08.139> your<00:25:08.543> R&D,<00:25:09.579> your,<00:25:10.566> your<00:25:11.132> cash<00:25:11.534> bonus,<00:25:12.096> your<00:25:13.864> vacation<00:25:14.426> days<00:25:15.390> are<00:25:15.535> all<00:25:15.792> coupled<00:25:16.258> in,<00:25:17.479> or<00:25:17.544> your<00:25:17.704> 401k.

00:25:18.524 --> 00:25:20.553
Anyway,<00:25:18.765> we've<00:25:19.231> applied<00:25:19.649> formulas<00:25:20.195> for<00:25:20.372> that.

00:25:20.619 --> 00:25:25.229
So<00:25:20.866> this<00:25:21.112> year<00:25:21.326> has<00:25:21.524> been<00:25:22.563> the<00:25:22.708> most<00:25:23.511> variables<00:25:24.073> now<00:25:24.313> that<00:25:24.410> are<00:25:24.570> tied<00:25:24.875> into<00:25:25.068> that.

00:25:25.309 --> 00:25:27.171
So<00:25:25.614> training<00:25:26.015> budgets<00:25:26.417> now<00:25:26.593> are<00:25:26.802> tied<00:25:26.995> in.

00:25:27.781 --> 00:25:40.995
So<00:25:27.926> you<00:25:28.006> want<00:25:28.183> more<00:25:28.343> training,<00:25:28.729> you<00:25:28.825> want<00:25:28.953> to<00:25:29.066> go<00:25:29.307> to<00:25:30.334> a<00:25:30.414> class<00:25:30.848> instead<00:25:31.169> of<00:25:31.298> just<00:25:31.619> get<00:25:31.779> a<00:25:31.876> book<00:25:32.743> like<00:25:32.919> the<00:25:33.064> early<00:25:33.321> days,<00:25:33.706> then<00:25:34.749> this<00:25:34.942> is<00:25:35.087> the<00:25:35.167> gross<00:25:35.472> profit<00:25:35.954> number<00:25:36.435> and<00:25:36.532> here's<00:25:36.853> how<00:25:37.078> your<00:25:37.334> role<00:25:37.575> will<00:25:37.800> contribute<00:25:38.378> to<00:25:38.539> that<00:25:38.779> gross<00:25:39.020> profit<00:25:39.341> and<00:25:39.582> get<00:25:39.807> you<00:25:39.968> what<00:25:40.064> you<00:25:40.289> would<00:25:40.465> like<00:25:40.706> to<00:25:40.770> have.

00:25:42.376 --> 00:25:49.473
I<00:25:42.392> like<00:25:42.536> to<00:25:42.617> end<00:25:42.858> every<00:25:43.114> interview<00:25:43.419> with<00:25:43.580> this<00:25:43.821> question,<00:25:45.266> and<00:25:45.748> I<00:25:45.764> think<00:25:46.004> now<00:25:46.165> is<00:25:46.261> a<00:25:46.326> good<00:25:46.470> time<00:25:46.647> to<00:25:46.871> ask<00:25:47.128> it<00:25:47.289> given<00:25:48.397> what<00:25:48.557> you<00:25:48.590> just<00:25:48.734> described.

00:25:49.682 --> 00:25:58.982
And<00:25:50.164> we<00:25:50.726> often<00:25:50.983> say<00:25:51.240> at<00:25:51.320> CEO.com,<00:25:52.188> like,<00:25:52.573> hey,<00:25:53.071> the<00:25:53.232> chances<00:25:54.517> that<00:25:55.159> are<00:25:55.400> given<00:25:55.962> are<00:25:56.107> just<00:25:56.364> as<00:25:56.444> important<00:25:57.793> as<00:25:57.954> the<00:25:58.034> chances<00:25:58.436> that<00:25:58.532> are<00:25:58.613> taken.

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And<00:25:59.576> it<00:25:59.657> sounds<00:25:59.898> like<00:26:00.042> you're<00:26:00.219> giving<00:26:00.621> your<00:26:00.781> employees<00:26:01.199> a<00:26:01.263> chance<00:26:03.014> in<00:26:03.351> kind<00:26:03.496> of<00:26:03.576> what<00:26:03.672> you're<00:26:03.833> describing,<00:26:04.476> to<00:26:04.620> be<00:26:05.198> an<00:26:05.279> owner<00:26:05.825> and<00:26:05.985> to<00:26:06.885> be<00:26:07.030> a<00:26:07.046> part<00:26:07.303> of<00:26:07.367> the<00:26:07.447> company<00:26:08.234> and<00:26:08.652> be<00:26:08.813> a<00:26:08.877> part<00:26:09.053> of<00:26:09.150> the<00:26:09.198> decision-making<00:26:10.644> and,<00:26:10.901> you<00:26:10.997> know,<00:26:11.158> the<00:26:11.286> direction<00:26:12.105> of<00:26:12.330> where<00:26:12.571> everything's<00:26:12.989> going.

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I<00:26:13.940> wonder<00:26:14.201> in<00:26:14.347> your<00:26:14.526> own<00:26:14.771> life<00:26:15.569> who<00:26:15.813> gave<00:26:16.139> you<00:26:16.253> a<00:26:16.318> chance.

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Yeah,<00:26:20.144> that's<00:26:20.354> a<00:26:20.434> zinger.

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I<00:26:21.143> think<00:26:22.125> obviously<00:26:22.447> my<00:26:22.688> parents<00:26:23.155> who<00:26:24.121> worked<00:26:24.363> their<00:26:24.459> tails<00:26:24.846> off<00:26:25.023> and<00:26:25.103> said<00:26:25.329> I<00:26:25.425> could<00:26:25.570> do<00:26:25.731> anything<00:26:26.053> I<00:26:26.134> put<00:26:26.311> my<00:26:26.407> mind<00:26:26.713> to<00:26:27.293> despite<00:26:27.679> my<00:26:27.840> terrible<00:26:28.162> grades.

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But<00:26:28.710> I<00:26:28.790> would<00:26:28.903> say<00:26:29.837> my<00:26:30.080> wife<00:26:31.051> has<00:26:31.310> been<00:26:31.536> the<00:26:31.714> one.

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She's<00:26:33.074> the<00:26:33.154> one<00:26:33.252> who<00:26:33.413> worked<00:26:33.737> me<00:26:33.899> through<00:26:34.077> school,<00:26:34.481> waking<00:26:34.789> up<00:26:34.934> at<00:26:35.031> 3:30<00:26:35.517> to<00:26:35.662> do<00:26:35.824> medical<00:26:36.229> transcription<00:26:37.604> and<00:26:37.944> working<00:26:38.413> in<00:26:39.787> different<00:26:40.108> ways<00:26:40.445> just<00:26:40.622> to<00:26:40.766> get<00:26:41.007> me<00:26:41.103> through<00:26:41.344> school<00:26:41.809> and<00:26:41.970> then<00:26:43.157> to<00:26:43.494> be<00:26:43.735> that<00:26:45.339> support<00:26:46.687> where<00:26:46.864> we've,<00:26:47.425> we've<00:26:47.586> taken<00:26:47.826> the<00:26:47.971> company<00:26:48.292> right<00:26:48.533> up<00:26:48.645> to<00:26:48.853> 3<00:26:49.126> near-death<00:26:49.592> experiences<00:26:50.378> where<00:26:51.196> we've<00:26:51.373> had<00:26:51.517> to<00:26:51.597> mortgage<00:26:52.063> everything<00:26:52.400> we've<00:26:52.624> had,<00:26:52.865> every<00:26:53.122> credit<00:26:53.507> card,<00:26:54.630> every<00:26:56.074> amount<00:26:56.508> of<00:26:56.652> leverage<00:26:57.037> the<00:26:57.133> bank<00:26:57.374> would<00:26:57.519> give<00:26:57.695> us<00:26:57.856> for<00:26:58.016> everything<00:26:58.481> that<00:26:58.642> we<00:26:58.883> own.

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And<00:27:00.969> that<00:27:01.129> she<00:27:01.241> stuck<00:27:01.546> by<00:27:01.723> me<00:27:01.947> and<00:27:02.108> let<00:27:02.268> me<00:27:02.413> do<00:27:02.573> it<00:27:02.686> 3<00:27:02.990> times.

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And<00:27:04.659> the<00:27:04.756> last<00:27:05.221> one,<00:27:05.542> she<00:27:05.718> said,<00:27:06.120> I<00:27:06.280> can't<00:27:07.386> do<00:27:07.547> it<00:27:07.643> anymore.

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And<00:27:09.469> we<00:27:09.549> have<00:27:09.742> this<00:27:09.902> saying,<00:27:10.991> seek<00:27:11.184> to<00:27:11.248> understand,<00:27:11.792> seek<00:27:11.969> to<00:27:12.065> be<00:27:12.209> understood,<00:27:12.834> and<00:27:12.930> then<00:27:13.090> get<00:27:13.315> on<00:27:13.411> board<00:27:13.651> with<00:27:13.811> the<00:27:13.891> second<00:27:14.212> best<00:27:14.452> decision<00:27:14.917> like<00:27:15.109> it<00:27:15.189> was<00:27:15.333> your<00:27:15.494> own.

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And<00:27:16.679> the<00:27:16.759> second<00:27:17.080> best<00:27:17.336> meaning<00:27:17.577> it<00:27:17.657> wasn't<00:27:17.977> yours.

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And,<00:27:20.220> and<00:27:20.316> so<00:27:20.525> she<00:27:20.701> said<00:27:21.005> that<00:27:21.182> night,<00:27:21.486> I<00:27:21.582> can't<00:27:21.903> go<00:27:22.047> on,<00:27:22.223> I<00:27:22.383> cannot<00:27:22.768> support<00:27:23.168> the<00:27:23.248> second<00:27:23.505> best<00:27:23.777> decision.

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We're<00:27:24.851> all<00:27:25.027> out<00:27:25.123> of<00:27:25.203> money.

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You've<00:27:25.828> got<00:27:25.988> to<00:27:26.068> sell<00:27:26.469> and<00:27:26.613> take<00:27:26.853> that<00:27:27.334> offer<00:27:27.655> that<00:27:27.815> you've<00:27:27.975> been<00:27:28.135> given.

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And<00:27:29.193> then<00:27:29.337> the<00:27:29.417> next<00:27:29.673> morning<00:27:29.978> she<00:27:30.138> said,<00:27:31.356> I<00:27:31.500> remembered<00:27:31.900> we<00:27:31.997> can<00:27:32.141> take<00:27:32.317> a<00:27:32.381> loan<00:27:32.702> out<00:27:32.862> on<00:27:32.942> the<00:27:33.022> rest<00:27:33.214> of<00:27:33.294> our<00:27:33.439> 401.

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I've<00:27:34.400> done<00:27:34.560> the<00:27:34.640> paperwork.

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And<00:27:36.023> I<00:27:36.123> think<00:27:36.356> we<00:27:36.440> can<00:27:36.506> make<00:27:36.773> payroll.

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And<00:27:38.768> within<00:27:39.106> a<00:27:39.187> week,<00:27:39.460> our<00:27:39.654> company<00:27:39.992> quadrupled<00:27:40.620> in<00:27:40.781> value<00:27:42.246> into<00:27:42.407> those<00:27:42.648> 9-figure<00:27:43.357> kinds<00:27:43.711> of<00:27:43.840> numbers.

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And<00:27:46.512> that<00:27:46.738> she<00:27:46.915> supported<00:27:47.382> me<00:27:47.559> and<00:27:47.639> then<00:27:47.800> didn't<00:27:48.010> force<00:27:48.301> me<00:27:48.447> to<00:27:48.544> take<00:27:48.771> those<00:27:48.933> 9-figure<00:27:49.580> offers<00:27:50.066> to<00:27:50.163> sell<00:27:50.455> the<00:27:50.552> company,<00:27:53.326> I'm<00:27:53.975> speechless.

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I<00:27:56.569> am<00:27:56.667> indebted<00:27:57.056> to<00:27:57.137> her<00:27:57.364> forever.

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That's<00:27:59.509> unbelievable.

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Mel,<00:28:00.351> thank<00:28:00.582> you<00:28:00.665> so<00:28:00.912> much<00:28:01.243> for<00:28:01.342> joining<00:28:01.755> us.

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Um,<00:28:02.883> good<00:28:03.107> luck<00:28:03.363> on<00:28:03.443> everything<00:28:04.084> that,<00:28:04.325> that<00:28:04.485> you're<00:28:04.709> working<00:28:04.966> on.

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It's<00:28:05.767> incredible<00:28:06.328> what<00:28:06.552> you've<00:28:06.905> accomplished,<00:28:07.530> what<00:28:07.674> you've<00:28:07.850> built.

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Um,<00:28:08.988> it<00:28:09.068> means<00:28:09.372> a<00:28:09.388> lot<00:28:09.597> to<00:28:09.629> have<00:28:09.757> you<00:28:09.837> on<00:28:09.917> the<00:28:09.949> show.

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Thank<00:28:10.494> you<00:28:10.574> so<00:28:10.718> much,<00:28:11.440> Clint.

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You're<00:28:11.936> the<00:28:12.016> legend,<00:28:12.417> man.

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Thanks<00:28:13.138> for<00:28:13.282> having<00:28:13.555> me.

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It's<00:28:14.260> amazing<00:28:14.660> what<00:28:14.821> you've<00:28:15.045> created<00:28:15.398> in<00:28:15.542> this<00:28:15.766> area,<00:28:16.327> and<00:28:16.503> just<00:28:16.744> so<00:28:16.968> thrilled<00:28:17.304> to<00:28:17.385> be<00:28:17.561> a<00:28:17.689> part<00:28:17.865> of<00:28:18.009> this<00:28:18.186> community.

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Appreciate<00:28:19.788> it.

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Thank<00:28:20.173> you<00:28:20.205> so<00:28:20.365> much,<00:28:20.669> man.