Andrejka Bernatova was always selling a mission

The first money Andrejka Bernatova ever raised was $6,000. She was 14, living in a small village in post-communist Czechoslovakia, and she wanted to go to America. Nobody in her life could pay for it. So she went from one small businessman to another and asked.

"Some people gave me $20. Some gave me $50. Most people gave me nothing," she told the CEO.com Podcast.

Her pitch was thin. She offered to tutor kids in math. She offered to teach them Czech. Mostly, she said the truth: her dream was to go to America, and she needed help getting there. In a country where charitable giving barely existed, where people had spent decades being taught not to dream too big, this was close to unthinkable. Years later she heard Steve Jobs say you don't sell a product, you sell a mission. Nike doesn't sell shoes. At 14, she was already selling a mission.

She has raised more than $35 billion since. The first $6,000 was, she says, "probably the hardest fundraising experience of my life."

The money got her to Manchester, New Hampshire, at 15. She had imagined New York or Los Angeles. Instead, a host family picked her up and drove, and the highway got smaller and smaller until they turned onto a dirt road and stopped at a house in the woods with no neighbors for miles.

"I put my suitcase down and thought: 'These people are probably going to kill me, and nobody will ever know because my parents don't even speak English.'"

They did not kill her. They rebuilt her instead. She came from a culture where announcing you wanted to be president got you told to try teaching first. This family told her to change the Constitution if she had to. People who knew her before America and after America say she came back a different person.

She wanted to be a diplomat. Politics filled the family table through the fall of communism, and she studied government at Harvard. But nobody was paying her bills, so she chose a toolkit that could: finance and investment banking. That toolkit built a career through the machinery of American energy. She was on the founding management team at PennTex Midstream Partners, which went public in 2015 and sold a year later to Energy Transfer and Eagle Claw Midstream. She co-founded Core Midstream and served as CFO of Goodnight Midstream and Enchanted Rock. She founded and led ESGEN, a SPAC that merged with Sunergy Renewables in March 2024 to become Zeo Energy Corp.

Today she is founder, chairman, and CEO of Dynamix, one platform with two sides: a SPAC franchise that takes companies public, focused on energy infrastructure and digital assets, and a private side that partners with profitable companies ready to scale. Dynamix III listed on Nasdaq in October 2025, the team's third SPAC in four years.

Her thesis has not changed. She calls it "one energy." Dynamix never split fossil fuels from renewables on ideological lines, because the world will need every viable source it can get. Renewables attract bursts of capital followed by droughts, she says, and real energy transformation requires consistent, high-quality capital over long periods. What has changed is who agrees with her. AI runs on data centers, and data centers run on power, and the technology industry has discovered it cannot build its future without the people who build energy infrastructure.

"You're seeing what I call 'San Francisco meets Houston,'" she said. "The tech world suddenly realizes it desperately needs the energy world."

She is more excited about energy now than she was during the shale boom, and she does not romanticize the work. "You're talking about projects where if something goes wrong, people literally die. That's a completely different level of responsibility."

The same logic pulled Dynamix into digital assets, which she treats as the next generation of infrastructure. Ethereum interests her most because it has utility and programmable function, not just scarcity. "Crypto reminds me of the internet or the iPhone. It's going to fundamentally reshape how people live, even if most people don't fully understand that yet."

Dynamix bet big on that view. In July 2025, the firm signed a business combination agreement with The Ether Machine, backed by more than $1.5 billion in committed financing, the largest all-common-stock financing announced since 2021, with a planned launch treasury of more than 400,000 ETH. The deal was still pending when this conversation was recorded. In April 2026 the parties mutually terminated the agreement. Dynamix received a $50 million payment and has until November 22, 2026 to complete a business combination.

Bernatova has now seen two full SPAC cycles, and her reading of the last one is unsparing. Companies that had no business being public were rushed to market. Some sponsors treated the work like a side hobby. "SPACs are like leverage," she said. "Leverage is incredibly powerful when applied correctly. It's disastrous when applied poorly." Her firm's response is almost always to say no. "We tell about 97% of companies we speak with: 'Do not go public.' Because our responsibility is protecting businesses, not destroying them through bad capital structures or premature listings."

She turns the same discipline on herself. She uses AI constantly and argues with it constantly, because it hands back the obvious answers, and the work of connecting dots creatively still belongs to people. So she protects time for running, for driving without podcasts, for sitting and thinking.

Every CEO.com Podcast conversation ends with the same question. The chances one gives are just as important as the chances one takes. Who gave you a chance?

For Bernatova, it was Richard McDonald, headmaster of a boarding school in Switzerland, one of the most expensive in the world. She spent a year writing him letters explaining why he should admit her. Four days before school started, she called him. "You have two choices: I'm either sleeping inside the dorms or outside the dorms, but I'm coming." He went against his own board of governors and let her in.

"You have to ask directly for what you want," she said. "Nobody is sitting around thinking about your dreams for you. You have to advocate for yourself. That works. It really works."

00:00:00 Introduction and Background
00:00:11 Journey from Czechoslovakia to America
00:01:24 Fundraising for the American Dream
00:02:50 Pitching the Dream to Potential Donors
00:04:43 Inspiration to Move to America
00:06:40 First Impressions of America
00:09:03 Early Career Aspirations
00:10:36 Founding Dynamics and Initial Vision
00:13:30 Impact of AI and Energy on Business
00:17:22 Future of Energy and Digital Assets
00:19:59 A Day in the Life of a CEO
00:22:17 Macroeconomic Perspectives
00:25:19 State of Public Markets and SPACs
00:29:51 Acknowledging Key Supporters
00:32:30 Closing Remarks and Reflections

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People<00:03:21.800> want<00:03:22.000> to<00:03:22.080> support<00:03:22.680> the<00:03:22.840> American<00:03:23.280> dream.

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In<00:03:25.239> most<00:03:25.720> of<00:03:25.840> the<00:03:25.959> world,<00:03:26.680> I<00:03:26.720> think<00:03:26.880> America<00:03:27.280> really<00:03:27.560> is<00:03:27.760> only<00:03:28.080> country<00:03:28.400> in<00:03:28.519> the<00:03:28.640> world<00:03:29.040> where<00:03:29.160> people<00:03:29.480> do<00:03:29.680> that.

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You<00:03:30.000> know,<00:03:30.120> there's<00:03:30.959> charitable<00:03:31.519> donations<00:03:32.160> or<00:03:32.280> donations<00:03:32.920> in<00:03:33.040> general<00:03:33.400> are<00:03:33.560> not<00:03:33.959> something<00:03:34.440> where<00:03:34.600> most<00:03:34.959> of<00:03:35.040> the<00:03:35.200> world<00:03:36.200> is,<00:03:36.640> you<00:03:36.720> know,<00:03:36.880> they're<00:03:37.080> not<00:03:37.320> on<00:03:37.440> the<00:03:37.519> same

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wavelength.<00:03:38.160> It's<00:03:38.320> not<00:03:38.720> common.<00:03:39.200> So,<00:03:40.000> giving<00:03:40.480> money<00:03:40.880> to<00:03:41.120> somebody<00:03:41.840> to<00:03:42.040> do<00:03:42.239> something<00:03:42.800> for<00:03:43.120> them<00:03:43.600> or<00:03:43.760> for<00:03:44.040> others<00:03:45.080> is<00:03:45.360> completely<00:03:45.920> strange

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and<00:03:46.480> it<00:03:46.600> was<00:03:47.120> absolutely<00:03:47.800> strange<00:03:48.440> strange<00:03:48.880> in<00:03:49.000> a<00:03:49.080> post-communist<00:03:50.519> setup,<00:03:51.080> you<00:03:51.160> know,<00:03:51.440> on<00:03:51.600> top<00:03:51.800> of<00:03:51.880> that.

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So,<00:03:52.959> but<00:03:53.200> I<00:03:53.320> have<00:03:53.520> to<00:03:53.640> tell<00:03:53.880> you,<00:03:54.080> you<00:03:54.160> know,<00:03:54.360> I<00:03:54.440> was<00:03:54.840> uh<00:03:54.920> listening<00:03:55.360> to<00:03:56.480> what<00:03:56.640> uh<00:03:56.680> Steve<00:03:57.000> Jobs'<00:03:57.800> kind<00:03:58.000> of<00:03:58.720> YouTube<00:03:59.160> videos<00:03:59.600> the<00:03:59.720> other<00:03:59.920> day<00:04:00.240> when

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he<00:04:00.560> was<00:04:01.160> uh<00:04:01.200> describing<00:04:01.640> a<00:04:01.720> product<00:04:02.320> and<00:04:03.040> how<00:04:03.200> you<00:04:03.480> don't<00:04:03.800> sell<00:04:04.000> the<00:04:04.120> product,<00:04:04.720> right?

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Nike<00:04:05.240> is<00:04:05.320> not<00:04:05.520> selling<00:04:05.800> shoes,<00:04:06.280> they're<00:04:06.520> selling<00:04:06.920> a<00:04:07.400> a<00:04:07.480> mission,<00:04:08.200> right?

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And<00:04:08.800> so,<00:04:09.720> uh<00:04:10.000> it<00:04:10.120> was<00:04:10.240> sort<00:04:10.400> of<00:04:10.480> a<00:04:10.560> similar<00:04:10.959> pitch,<00:04:11.560> right?

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I<00:04:11.840> was<00:04:12.040> selling<00:04:13.040> not<00:04:13.160> a<00:04:13.240> product,<00:04:14.480> but<00:04:14.640> sort<00:04:14.800> of<00:04:14.920> a<00:04:15.000> mission.

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Hey,<00:04:15.800> we<00:04:16.000> just<00:04:16.320> became,<00:04:17.440> you<00:04:17.519> know,<00:04:17.640> democratic<00:04:18.359> country.

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I'm<00:04:19.680> an<00:04:19.799> example<00:04:20.320> of<00:04:20.400> somebody<00:04:20.760> who<00:04:20.880> can<00:04:21.239> go<00:04:21.480> somewhere<00:04:21.959> and<00:04:22.120> make<00:04:22.360> something<00:04:22.760> of<00:04:22.880> themselves,<00:04:23.400> but<00:04:23.520> it's<00:04:23.840> really<00:04:24.160> around<00:04:24.560> that<00:04:25.320> mission<00:04:25.760> and<00:04:25.960> theme,<00:04:26.680> not<00:04:26.880> around<00:04:27.320> the

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actual,<00:04:28.160> you<00:04:28.200> know,<00:04:28.520> product<00:04:28.960> I<00:04:29.000> was<00:04:29.200> selling.

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So,<00:04:29.840> it<00:04:29.919> was<00:04:30.040> really<00:04:30.200> interesting<00:04:30.640> to<00:04:31.360> reflect<00:04:31.840> on<00:04:31.919> that.

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[clears<00:04:33.349> throat]<00:04:33.561> Yeah,<00:04:33.772> I<00:04:33.983> mean,<00:04:34.195> wow,<00:04:34.406> what<00:04:34.617> a<00:04:34.829> learning<00:04:35.040> experience.

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And<00:04:35.560> obviously<00:04:35.880> you<00:04:35.960> were<00:04:36.040> successful.<00:04:37.240> Uh<00:04:37.480> what<00:04:38.200> what<00:04:38.400> made<00:04:38.600> you<00:04:38.720> want<00:04:39.000> to<00:04:39.080> come<00:04:39.240> to<00:04:39.360> America?

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I<00:04:39.800> mean,<00:04:40.000> why<00:04:40.160> what<00:04:40.480> why<00:04:40.640> was<00:04:40.840> that<00:04:41.000> your<00:04:41.120> dream?<00:04:42.919> Well,<00:04:43.360> that's<00:04:43.680> that's<00:04:43.919> interesting.

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So,<00:04:44.880> it<00:04:45.120> was<00:04:45.320> it<00:04:45.400> was<00:04:45.520> literally<00:04:45.760> a<00:04:45.840> moment<00:04:46.800> that<00:04:46.960> changed<00:04:47.240> my<00:04:47.440> life.

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And<00:04:47.880> I<00:04:47.960> actually<00:04:48.280> do<00:04:48.600> think<00:04:49.000> that<00:04:49.200> that's<00:04:49.400> an<00:04:50.000> interesting<00:04:50.480> lessons<00:04:50.919> learned<00:04:51.440> for,<00:04:51.840> you<00:04:51.880> know,<00:04:52.000> I<00:04:52.080> have<00:04:52.919> little<00:04:53.160> kids<00:04:53.520> and<00:04:53.680> I<00:04:53.880> I<00:04:54.200> very<00:04:54.720> frequently<00:04:55.280> tell<00:04:55.480> them<00:04:55.680> that<00:04:55.960> that

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at<00:04:56.560> one<00:04:56.919> moment<00:04:57.480> in<00:04:57.600> your<00:04:57.760> life<00:04:58.800> can<00:04:58.960> completely<00:04:59.680> change<00:05:00.320> the<00:05:00.440> direction<00:05:01.040> of<00:05:01.160> the<00:05:01.240> rest<00:05:01.440> of<00:05:01.520> your<00:05:01.680> life.

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So,<00:05:03.280> um<00:05:04.520> and<00:05:04.840> it<00:05:04.919> was<00:05:05.080> very<00:05:05.680> superficial,<00:05:06.440> that<00:05:06.680> moment,<00:05:07.360> you<00:05:07.440> know,<00:05:07.600> for<00:05:07.800> me.

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So,<00:05:08.240> I<00:05:08.360> actually<00:05:08.760> saw<00:05:09.080> a<00:05:09.760> poster<00:05:10.480> advertising<00:05:11.240> study<00:05:11.600> abroad<00:05:13.040> in<00:05:13.160> America.

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And<00:05:14.720> you<00:05:14.800> had<00:05:14.960> sort<00:05:15.160> of<00:05:15.320> a,<00:05:15.640> you<00:05:15.720> know,<00:05:15.919> blonde<00:05:16.320> lady<00:05:16.680> running<00:05:17.080> on<00:05:17.200> the<00:05:17.440> beaches<00:05:17.919> of<00:05:18.160> California<00:05:19.080> and<00:05:19.640> uh<00:05:20.040> and<00:05:20.200> the<00:05:20.320> Twin<00:05:20.600> Towers.

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And<00:05:22.160> uh<00:05:22.640> I<00:05:22.720> literally<00:05:23.120> looked<00:05:23.320> at<00:05:23.400> that<00:05:23.640> picture<00:05:24.000> and<00:05:24.160> I<00:05:24.240> said,<00:05:25.200> "That's<00:05:25.480> where<00:05:25.600> I<00:05:25.680> want<00:05:25.840> to<00:05:25.919> be."

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So,<00:05:26.880> it<00:05:26.960> was<00:05:27.120> that<00:05:27.280> moment.<00:05:27.919> It<00:05:28.000> was<00:05:28.120> as<00:05:28.240> simple<00:05:28.680> as<00:05:28.800> that.

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And<00:05:29.120> I<00:05:29.160> know<00:05:29.280> it<00:05:29.360> sounds<00:05:29.600> very<00:05:29.840> superficial<00:05:30.480> and<00:05:31.760> uh<00:05:32.000> but<00:05:32.240> but<00:05:32.400> then<00:05:32.560> later<00:05:32.840> on,<00:05:33.080> you<00:05:33.120> know,<00:05:33.800> I<00:05:33.919> had<00:05:34.120> similar<00:05:34.440> moments<00:05:34.880> like<00:05:35.080> that<00:05:36.080> uh<00:05:36.360> where<00:05:36.600> just<00:05:37.000> moments

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just<00:05:37.800> completely<00:05:38.320> changed,<00:05:38.840> like,<00:05:39.040> I<00:05:39.120> want<00:05:39.240> to<00:05:39.320> be<00:05:39.440> that.

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I<00:05:40.320> want<00:05:40.480> to<00:05:40.520> do<00:05:40.640> that.<00:05:41.640> So,<00:05:41.760> it<00:05:41.919> really<00:05:42.160> sort<00:05:42.400> of<00:05:42.840> um<00:05:43.160> that's<00:05:43.960> uh<00:05:44.040> that's<00:05:44.320> what<00:05:44.640> made<00:05:44.880> me<00:05:45.360> uh<00:05:45.440> come<00:05:45.600> to<00:05:45.720> the<00:05:45.800> US.

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You<00:05:46.680> know,<00:05:46.760> and<00:05:47.080> during<00:05:47.280> communism,<00:05:47.960> I<00:05:48.000> mean<00:05:48.120> one<00:05:48.240> of<00:05:48.360> the<00:05:48.440> features<00:05:48.880> of<00:05:49.320> um<00:05:49.880> you<00:05:49.960> know,<00:05:50.080> the<00:05:50.320> the<00:05:50.440> communist<00:05:50.840> regime<00:05:51.800> back<00:05:52.040> then<00:05:52.280> was<00:05:52.720> the<00:05:52.840> borders<00:05:53.320> were<00:05:53.480> closed.

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So,<00:05:55.000> we<00:05:55.120> were<00:05:55.200> not<00:05:55.400> able<00:05:55.600> to<00:05:55.720> go<00:05:55.840> to<00:05:56.000> Austria,<00:05:56.440> we<00:05:56.520> were<00:05:56.600> not<00:05:56.760> able<00:05:56.960> to<00:05:57.040> go<00:05:57.160> to<00:05:57.320> Germany,<00:05:57.840> certainly<00:05:58.160> not<00:05:58.320> to<00:05:58.400> America,<00:05:59.000> UK,<00:05:59.400> etc.

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So,<00:06:00.640> you<00:06:00.720> know,<00:06:00.840> we<00:06:00.920> were<00:06:01.120> all<00:06:01.360> we<00:06:01.440> could<00:06:01.600> go<00:06:01.760> to<00:06:02.000> Soviet<00:06:02.360> Union,<00:06:03.080> Ukraine,<00:06:03.760> and<00:06:04.480> you<00:06:04.560> know,<00:06:05.800> Bulgaria,<00:06:06.520> etc.

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But<00:06:08.160> you<00:06:08.320> couldn't<00:06:08.720> actually<00:06:09.600> travel<00:06:09.960> to<00:06:10.080> the<00:06:10.200> west.

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And<00:06:11.600> so,<00:06:11.760> not<00:06:12.120> being<00:06:12.480> able<00:06:12.760> to<00:06:13.640> you<00:06:13.760> know,<00:06:14.000> once<00:06:14.240> the<00:06:14.360> borders<00:06:14.800> open,<00:06:15.560> you<00:06:15.840> want<00:06:16.120> to<00:06:16.320> that's<00:06:16.640> really<00:06:16.880> the<00:06:17.000> piece<00:06:17.360> that<00:06:17.600> I<00:06:17.680> think<00:06:18.000> was<00:06:18.800> one<00:06:18.960> of<00:06:19.000> the<00:06:19.120> biggest<00:06:19.520> benefits

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of<00:06:21.440> you<00:06:21.520> know,<00:06:22.240> opening<00:06:22.640> the<00:06:23.520> or<00:06:23.800> you<00:06:23.880> know,<00:06:24.280> the<00:06:24.520> the<00:06:24.680> communist<00:06:25.080> regime<00:06:25.400> ultimately<00:06:26.360> falling<00:06:27.040> at<00:06:27.120> that<00:06:27.280> time.

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Yeah,<00:06:29.720> and<00:06:29.880> so<00:06:30.080> what<00:06:30.240> did<00:06:30.400> you<00:06:30.480> do<00:06:30.640> when<00:06:30.760> you<00:06:30.880> got<00:06:31.080> here?

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What<00:06:33.240> was<00:06:33.360> the<00:06:33.480> plan?<00:06:33.800> Like<00:06:34.160> so<00:06:34.280> you<00:06:34.560> successfully<00:06:35.320> raised<00:06:35.560> enough<00:06:35.720> money<00:06:35.919> to<00:06:36.040> get<00:06:36.280> here,<00:06:37.280> then<00:06:37.400> you<00:06:37.520> get<00:06:37.760> here,<00:06:37.960> what<00:06:38.200> what<00:06:38.320> do<00:06:38.360> you<00:06:38.440> do?

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Well,<00:06:41.040> I<00:06:41.160> can<00:06:41.320> tell<00:06:41.480> you<00:06:41.560> the<00:06:41.680> moment<00:06:42.240> when<00:06:42.400> I<00:06:42.840> came<00:06:43.160> to<00:06:43.280> the<00:06:43.400> US,<00:06:43.840> and<00:06:44.000> my<00:06:44.200> idea<00:06:44.680> was<00:06:45.680> um<00:06:46.280> you<00:06:46.320> know,<00:06:46.560> I<00:06:46.800> I<00:06:46.840> was<00:06:47.200> going<00:06:47.360> to<00:06:47.400> be<00:06:47.520> in<00:06:47.600> New<00:06:47.720> York<00:06:48.080> or

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Boston<00:06:48.800> or<00:06:48.919> Washington<00:06:49.400> DC,<00:06:49.840> LA.

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And<00:06:52.160> I<00:06:52.240> literally<00:06:52.640> arrived<00:06:53.080> in<00:06:53.160> the<00:06:53.280> US,<00:06:54.520> it<00:06:54.680> was<00:06:55.040> in<00:06:55.280> Manchester,<00:06:55.880> New<00:06:56.040> Hampshire.

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And<00:06:57.560> a<00:06:57.680> family<00:06:58.240> I<00:06:58.440> spoke<00:06:59.000> very<00:06:59.360> little<00:06:59.600> English.

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And<00:07:01.080> a<00:07:01.160> family<00:07:01.600> picks<00:07:01.840> me<00:07:02.000> up.<00:07:02.480> Actually<00:07:02.760> just<00:07:03.000> saw<00:07:03.280> my<00:07:03.480> host<00:07:03.720> family<00:07:04.080> this<00:07:04.240> weekend<00:07:05.120> or<00:07:05.240> last<00:07:05.480> week.

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I<00:07:06.720> still<00:07:07.040> stay<00:07:07.200> in<00:07:07.280> touch<00:07:07.520> with<00:07:07.640> them<00:07:08.240> and<00:07:09.280> um<00:07:10.000> you<00:07:10.080> know,<00:07:10.200> they<00:07:10.320> get<00:07:10.480> me<00:07:10.560> into<00:07:10.760> their<00:07:10.960> car<00:07:11.680> and<00:07:11.800> we<00:07:11.919> drive<00:07:12.200> on<00:07:12.320> a<00:07:12.360> big<00:07:12.720> highway.

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You<00:07:14.000> know,<00:07:14.040> big<00:07:14.360> car,<00:07:14.680> big<00:07:14.960> highway.<00:07:15.320> I'm<00:07:15.440> like,<00:07:15.560> this<00:07:15.720> is<00:07:15.840> good.

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This<00:07:16.280> is<00:07:16.560> this<00:07:16.760> is<00:07:17.160> exactly<00:07:17.840> what<00:07:18.040> I<00:07:18.400> you<00:07:18.480> know,<00:07:18.600> visualized<00:07:19.440> it's<00:07:19.600> going<00:07:19.720> to<00:07:19.800> look<00:07:19.960> like.

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Well,<00:07:21.400> the<00:07:21.520> highway<00:07:21.880> gets<00:07:22.160> narrower<00:07:22.640> and<00:07:22.760> narrower<00:07:23.200> and<00:07:23.360> then<00:07:23.480> ultimately<00:07:24.000> we<00:07:24.120> get<00:07:24.280> on<00:07:24.400> a<00:07:24.440> mud<00:07:24.720> road.

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And<00:07:26.440> we<00:07:26.560> arrive<00:07:26.840> at<00:07:26.919> the<00:07:27.040> house<00:07:27.840> and<00:07:28.160> there<00:07:28.320> is<00:07:28.800> literally<00:07:29.560> like<00:07:29.800> no<00:07:30.040> other<00:07:30.320> house<00:07:30.680> within<00:07:31.080> miles.

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You<00:07:32.120> know,<00:07:32.280> we<00:07:32.440> lived<00:07:32.760> in<00:07:32.880> the<00:07:33.720> in<00:07:33.800> the<00:07:33.919> woods<00:07:34.480> and<00:07:34.640> I<00:07:34.800> put<00:07:35.160> the<00:07:35.280> suitcase<00:07:35.919> on<00:07:36.040> my<00:07:36.240> bed<00:07:36.840> and<00:07:38.160> I<00:07:38.240> just<00:07:38.560> couldn't<00:07:38.840> believe<00:07:39.440> that<00:07:39.680> that's<00:07:39.919> what<00:07:40.080> I

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was<00:07:40.400> you<00:07:40.440> know,<00:07:40.560> spent<00:07:40.880> eight<00:07:41.080> months<00:07:41.320> raising<00:07:41.640> money<00:07:41.840> for,<00:07:42.080> that's<00:07:42.320> what<00:07:42.440> I<00:07:42.480> was<00:07:42.640> dreaming<00:07:43.000> about.

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And<00:07:43.920> here<00:07:44.160> I<00:07:44.240> am<00:07:44.400> in<00:07:44.480> the<00:07:44.560> middle<00:07:44.840> of<00:07:44.960> the<00:07:45.320> of<00:07:45.480> the<00:07:45.600> woods.

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These<00:07:46.080> people<00:07:46.320> are<00:07:46.440> probably<00:07:46.680> going<00:07:46.800> to<00:07:46.880> kill<00:07:47.120> me<00:07:47.280> and<00:07:47.400> nobody's<00:07:47.840> ever<00:07:48.000> going<00:07:48.120> to<00:07:48.160> even<00:07:48.360> find<00:07:48.600> out<00:07:49.120> cuz<00:07:49.240> my<00:07:49.360> parents<00:07:49.640> don't<00:07:49.760> even<00:07:49.920> speak<00:07:50.120> English.

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[laughter]<00:07:50.579> And<00:07:50.864> so,<00:07:51.148> you<00:07:51.433> know,<00:07:51.717> uh<00:07:52.001> when<00:07:52.286> people<00:07:52.570> uh<00:07:52.854> kind<00:07:53.139> of<00:07:53.423> talk<00:07:53.708> about<00:07:53.992> failures<00:07:54.276> or<00:07:54.561> surprises<00:07:54.845> in<00:07:55.129> life,<00:07:55.414> that<00:07:55.698> was<00:07:55.983> definitely<00:07:56.267> [clears<00:07:56.551> throat]<00:07:56.836> the<00:07:57.120> moment

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that<00:07:57.680> I<00:07:57.720> was<00:07:57.880> like,<00:07:58.000> "This<00:07:58.240> is<00:07:59.000> not<00:07:59.680> how<00:08:00.080> I<00:08:00.240> imagined<00:08:00.800> this<00:08:01.000> to<00:08:01.120> be."

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Uh<00:08:02.275> it<00:08:02.471> turned<00:08:02.666> out<00:08:02.861> to<00:08:03.056> [clears<00:08:03.252> throat]<00:08:03.447> be<00:08:03.642> the<00:08:03.838> the<00:08:04.033> most<00:08:04.228> amazing<00:08:04.424> and<00:08:04.619> transformational<00:08:04.814> year<00:08:05.009> of<00:08:05.205> my<00:08:05.400> life.

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Uh<00:08:06.960> the<00:08:07.080> family<00:08:07.440> is<00:08:07.640> outstanding.<00:08:08.360> Like<00:08:08.560> I<00:08:08.640> said,<00:08:08.840> I<00:08:08.920> still<00:08:09.120> stay<00:08:09.280> in<00:08:09.400> touch<00:08:09.640> with<00:08:09.720> them.

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They<00:08:10.800> represent<00:08:11.360> the<00:08:11.440> American<00:08:11.800> dreams.<00:08:12.280> You<00:08:12.360> know,<00:08:12.600> I<00:08:12.720> came<00:08:12.960> from<00:08:13.160> a<00:08:13.240> culture<00:08:13.760> where<00:08:15.080> uh<00:08:15.320> if<00:08:15.520> I<00:08:15.600> wanted<00:08:15.880> to<00:08:15.960> be<00:08:16.080> the<00:08:16.200> president<00:08:16.640> of<00:08:16.760> a<00:08:16.840> country,<00:08:17.320> they<00:08:17.480> would<00:08:17.640> tell<00:08:17.840> me,

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"Well,<00:08:19.080> Andreea,<00:08:19.440> how<00:08:19.640> about<00:08:20.280> like<00:08:20.680> how<00:08:20.800> about<00:08:21.000> like<00:08:21.160> a<00:08:21.240> teacher,<00:08:21.960> you<00:08:22.040> know,<00:08:22.200> like<00:08:22.440> start<00:08:22.680> there?"

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And<00:08:23.120> so,<00:08:23.680> um<00:08:24.360> just<00:08:24.600> very<00:08:24.880> different,<00:08:25.640> you<00:08:25.720> know,<00:08:25.840> don't<00:08:26.560> reach<00:08:27.000> too<00:08:27.200> high.

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Just,<00:08:28.720> you<00:08:28.760> know,<00:08:28.960> do<00:08:29.200> kind<00:08:29.480> of<00:08:29.560> the<00:08:29.680> things<00:08:30.000> that<00:08:30.160> are<00:08:30.280> very<00:08:30.520> realistic.

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And<00:08:32.039> And<00:08:32.200> this<00:08:32.479> family<00:08:33.039> was<00:08:33.280> just<00:08:35.039> the<00:08:35.200> opposite<00:08:35.560> of<00:08:35.640> that.

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They<00:08:35.919> were<00:08:36.000> like,<00:08:36.200> "Of<00:08:36.360> course<00:08:36.719> you<00:08:36.800> can<00:08:36.919> even<00:08:37.120> be<00:08:37.240> American<00:08:37.840> president.

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And<00:08:38.919> you<00:08:39.039> change<00:08:39.360> the<00:08:39.440> constitution.<00:08:40.800> And<00:08:41.000> then<00:08:41.159> you<00:08:41.280> can<00:08:41.440> become<00:08:41.760> the<00:08:41.880> president.

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And<00:08:42.479> it's<00:08:42.680> completely<00:08:43.440> doable."<00:08:43.880> And<00:08:44.039> so,<00:08:44.839> they<00:08:45.080> completely<00:08:46.000> switched<00:08:46.360> my<00:08:46.520> brain.

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So,<00:08:46.920> the<00:08:47.040> people<00:08:47.360> who<00:08:47.520> knew<00:08:47.760> me<00:08:48.200> before<00:08:48.520> I<00:08:48.600> came<00:08:48.800> to<00:08:48.920> the<00:08:49.040> US<00:08:50.080> and<00:08:50.320> after,<00:08:51.760> it's<00:08:52.120> the<00:08:52.320> it's<00:08:52.560> I'm<00:08:52.720> a<00:08:52.760> completely<00:08:53.320> opposite<00:08:53.680> person<00:08:54.720> because<00:08:55.160> of

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the<00:08:55.400> influence<00:08:55.880> that<00:08:56.000> this<00:08:56.160> family<00:08:56.520> had<00:08:56.680> on<00:08:56.800> me.

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Did<00:08:58.640> you<00:08:58.760> always<00:08:59.080> want<00:08:59.240> to<00:08:59.320> be<00:08:59.760> a<00:08:59.839> business<00:09:00.280> woman?

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Did<00:09:00.680> you<00:09:00.760> always<00:09:00.960> want<00:09:01.080> to<00:09:01.160> be<00:09:01.280> in<00:09:01.360> business?<00:09:03.400> I<00:09:04.000> always<00:09:04.520> loved<00:09:04.839> politics.

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So,<00:09:06.400> you<00:09:06.480> know,<00:09:06.640> because<00:09:07.839> living<00:09:08.280> through<00:09:08.520> that<00:09:08.720> fall<00:09:08.920> of<00:09:09.080> communism<00:09:10.040> and<00:09:10.160> all<00:09:10.280> the<00:09:10.400> plusses<00:09:10.839> and<00:09:10.960> minuses<00:09:11.560> it<00:09:11.680> had.

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And<00:09:12.839> I<00:09:12.920> grew<00:09:13.080> up,<00:09:13.440> you<00:09:13.520> know,<00:09:13.600> with<00:09:13.720> my<00:09:14.200> uh<00:09:14.680> grandparents<00:09:15.280> kind<00:09:15.440> of<00:09:15.560> sitting<00:09:15.800> around<00:09:16.000> the<00:09:16.120> table<00:09:16.640> and<00:09:16.760> discussing,<00:09:17.640> you<00:09:17.720> know,<00:09:18.640> why<00:09:18.880> are<00:09:19.040> people<00:09:19.560> against<00:09:19.920> communism

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and<00:09:20.800> why<00:09:20.880> are<00:09:20.960> people<00:09:21.240> And<00:09:21.360> so,<00:09:21.560> it's<00:09:21.960> um<00:09:22.720> it's<00:09:22.880> very<00:09:23.040> interesting.

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So,<00:09:23.800> I<00:09:23.960> always<00:09:24.280> liked<00:09:24.440> politics,<00:09:24.960> actually,<00:09:25.400> Clint.

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Uh<00:09:26.640> I<00:09:26.800> always<00:09:27.120> wanted<00:09:27.360> to<00:09:27.440> be<00:09:27.960> whatever<00:09:28.280> some<00:09:28.480> politician<00:09:29.000> or<00:09:29.080> president<00:09:29.640> and<00:09:29.760> diplomat.

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And<00:09:31.240> and<00:09:31.320> then<00:09:31.520> I<00:09:31.640> realized<00:09:32.240> that<00:09:32.640> uh<00:09:32.839> probably<00:09:33.120> doesn't<00:09:33.440> suit<00:09:33.640> my<00:09:33.839> personality<00:09:34.880> uh<00:09:35.040> after<00:09:35.320> my<00:09:35.480> first<00:09:36.600> internship<00:09:37.200> at<00:09:37.560> I<00:09:37.600> was<00:09:38.000> actually<00:09:38.240> at<00:09:38.280> the<00:09:38.400> Brazilian

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Embassy<00:09:39.360> in<00:09:39.760> Washington,<00:09:40.280> D.C.<00:09:40.720> when<00:09:40.840> I<00:09:40.920> was<00:09:41.080> 17<00:09:41.680> and<00:09:42.600> and<00:09:42.720> I<00:09:42.800> realized,<00:09:43.280> you<00:09:43.320> know,<00:09:43.520> being<00:09:43.760> an<00:09:43.840> ambassador<00:09:44.360> is<00:09:44.480> probably<00:09:44.680> the<00:09:44.800> opposite<00:09:45.240> of<00:09:45.360> what<00:09:45.520> I<00:09:45.560> should<00:09:45.760> do<00:09:46.360> because

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I'm<00:09:46.800> very<00:09:47.000> direct<00:09:47.320> and<00:09:47.480> transparent<00:09:48.120> and<00:09:49.120> that<00:09:49.400> don't<00:09:49.680> really<00:09:49.840> take<00:09:50.120> orders<00:09:50.480> very<00:09:50.680> well.

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Um<00:09:52.200> And<00:09:52.360> so<00:09:53.120> then<00:09:53.400> went<00:09:53.640> on,<00:09:54.080> you<00:09:54.160> know,<00:09:55.000> got<00:09:55.120> my<00:09:55.240> degree<00:09:55.560> at<00:09:55.960> Harvard,<00:09:56.600> studied<00:09:56.960> government,<00:09:57.480> so<00:09:57.640> studied<00:09:57.960> political<00:09:58.360> science.

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Um<00:10:00.560> but<00:10:00.680> then<00:10:00.800> decided<00:10:01.400> I,<00:10:02.160> you<00:10:02.280> know,<00:10:02.440> I<00:10:02.600> didn't<00:10:02.880> have<00:10:03.080> anybody<00:10:03.440> to<00:10:03.560> call<00:10:03.880> to<00:10:04.000> pay<00:10:04.160> my<00:10:04.320> credit<00:10:04.640> card<00:10:05.200> or<00:10:05.320> to<00:10:05.440> pay<00:10:05.600> my<00:10:05.800> phone<00:10:06.080> bill<00:10:06.480> or<00:10:07.440> pay<00:10:07.520> for<00:10:07.680> my<00:10:07.880> airline

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tickets<00:10:08.560> or<00:10:08.680> my<00:10:09.000> suitcase<00:10:09.720> or<00:10:09.880> anything<00:10:10.200> like<00:10:10.360> that.

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So<00:10:11.560> um<00:10:12.200> you<00:10:12.280> know,<00:10:12.360> I<00:10:12.400> decided<00:10:12.800> I<00:10:12.840> have<00:10:13.000> to<00:10:13.080> actually<00:10:13.400> make<00:10:13.760> money<00:10:14.160> and<00:10:14.440> have<00:10:14.600> a<00:10:14.720> real<00:10:15.080> toolkit,<00:10:15.800> you<00:10:15.840> know,<00:10:16.040> have<00:10:16.240> actually<00:10:16.600> a<00:10:17.440> sort<00:10:17.520> of<00:10:17.600> a<00:10:17.640> skill<00:10:18.000> set.

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So<00:10:19.160> um<00:10:19.320> made<00:10:19.480> a<00:10:19.520> very<00:10:19.720> conscious<00:10:20.040> decision<00:10:20.600> to<00:10:21.680> um<00:10:22.120> become<00:10:22.360> a<00:10:22.400> finance<00:10:22.880> person.

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And<00:10:24.160> I<00:10:24.200> ultimately<00:10:24.560> became<00:10:24.800> an<00:10:24.880> investment<00:10:25.320> banker<00:10:25.760> in<00:10:25.880> my<00:10:26.240> early,<00:10:26.760> you<00:10:26.840> know,<00:10:27.240> uh<00:10:27.600> years<00:10:28.400> after<00:10:28.720> college<00:10:29.200> and<00:10:29.760> uh<00:10:30.480> um<00:10:30.840> that<00:10:31.040> sort<00:10:31.200> of<00:10:31.280> set<00:10:31.440> me<00:10:31.600> on<00:10:31.760> a<00:10:32.160> journey

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of<00:10:33.040> I<00:10:33.120> guess<00:10:33.400> finance<00:10:33.960> and<00:10:34.880> and<00:10:35.000> business.

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So<00:10:37.000> tell<00:10:37.200> me<00:10:37.440> about<00:10:37.800> Dynamics.<00:10:38.440> What<00:10:39.000> when<00:10:39.200> you<00:10:39.600> said,<00:10:39.839> "Hey,<00:10:40.080> I<00:10:40.280> this<00:10:40.520> is<00:10:40.600> what<00:10:40.680> we're<00:10:40.760> going<00:10:40.880> to<00:10:40.960> start.

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This<00:10:41.280> is<00:10:41.360> what<00:10:41.480> we're<00:10:41.560> going<00:10:41.680> to<00:10:41.760> do."<00:10:42.000> Kind<00:10:42.160> of<00:10:42.240> what<00:10:42.400> was<00:10:42.520> your<00:10:42.680> vision<00:10:43.040> for<00:10:43.360> it<00:10:43.440> and<00:10:43.560> how<00:10:43.720> is<00:10:43.880> that<00:10:44.040> played<00:10:44.320> out?

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Has<00:10:44.680> the<00:10:44.760> vision<00:10:45.040> changed<00:10:45.440> at<00:10:45.600> all<00:10:46.320> since<00:10:46.560> you<00:10:46.640> started<00:10:47.000> it?

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The<00:10:47.839> vision<00:10:48.120> actually<00:10:48.360> has<00:10:48.480> not<00:10:48.640> changed<00:10:49.000> at<00:10:49.120> all,<00:10:49.480> funnily<00:10:49.800> enough.

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A<00:10:50.320> lot<00:10:50.680> has<00:10:50.880> changed<00:10:51.240> in<00:10:51.360> the<00:10:51.480> world<00:10:51.800> where<00:10:52.000> we<00:10:52.200> live<00:10:52.440> in,<00:10:52.640> Clint,<00:10:52.960> over<00:10:53.160> the<00:10:53.280> past<00:10:53.680> 5<00:10:53.920> years<00:10:54.280> since<00:10:54.560> we<00:10:54.760> or<00:10:54.880> 4<00:10:55.080> years<00:10:55.320> since<00:10:55.520> we<00:10:55.640> started<00:10:55.960> Dynamics.

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Uh<00:10:57.680> but<00:10:57.839> the<00:10:57.920> vision<00:10:58.200> hasn't<00:10:58.800> and<00:10:59.640> um<00:10:59.720> you<00:10:59.800> know,<00:10:59.880> there's<00:11:00.120> several<00:11:00.440> pillars<00:11:01.000> of<00:11:01.200> that<00:11:01.680> vision.

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So<00:11:02.160> number<00:11:02.440> one<00:11:02.680> is<00:11:03.800> we<00:11:04.000> like<00:11:04.360> playing<00:11:04.800> both<00:11:05.160> in<00:11:05.240> the<00:11:05.360> public<00:11:05.839> and<00:11:06.000> private<00:11:06.320> market.

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I<00:11:06.800> think<00:11:07.000> it's<00:11:07.160> a<00:11:07.440> there's<00:11:07.720> a<00:11:07.800> really<00:11:08.040> interesting<00:11:09.440> cross-pollination<00:11:10.520> of<00:11:10.680> opportunities<00:11:11.760> and<00:11:12.920> um<00:11:13.640> what<00:11:13.800> we<00:11:13.920> can,<00:11:14.160> you<00:11:14.240> know,<00:11:14.360> the<00:11:14.480> value<00:11:14.920> add

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in<00:11:15.680> into<00:11:16.000> the<00:11:16.080> businesses<00:11:16.680> that<00:11:16.800> we're<00:11:16.920> either<00:11:17.080> taking<00:11:17.440> public<00:11:17.839> or<00:11:18.080> investing<00:11:18.520> in.

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Um<00:11:20.400> we<00:11:20.600> always<00:11:20.960> had<00:11:21.080> a<00:11:21.120> vision<00:11:21.520> of<00:11:21.640> one<00:11:22.000> energy.

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So<00:11:23.000> we<00:11:23.080> didn't<00:11:23.320> have<00:11:23.480> sort<00:11:23.680> of<00:11:23.800> renewables<00:11:24.320> one<00:11:24.520> side,<00:11:25.040> fossil<00:11:25.400> fuels<00:11:25.760> another<00:11:26.080> side.

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You<00:11:27.320> know,<00:11:27.560> it's<00:11:28.160> um<00:11:28.760> and<00:11:28.920> I<00:11:28.960> know<00:11:29.080> a<00:11:29.120> lot<00:11:29.240> of<00:11:29.360> people<00:11:29.560> have<00:11:29.680> been<00:11:29.800> playing<00:11:30.080> on<00:11:30.160> this<00:11:30.360> theme,<00:11:30.720> but<00:11:30.880> it's<00:11:31.480> um<00:11:32.200> we<00:11:32.400> need<00:11:32.640> so<00:11:32.880> much<00:11:33.120> energy<00:11:33.560> over<00:11:33.800> the<00:11:33.920> next<00:11:34.360> decade<00:11:35.560> that

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we<00:11:36.200> need<00:11:36.600> all<00:11:36.920> the,<00:11:37.360> you<00:11:37.440> know,<00:11:37.640> sources<00:11:38.200> at<00:11:38.320> our<00:11:38.480> disposal<00:11:39.320> to<00:11:40.520> to<00:11:40.560> make<00:11:40.760> sure<00:11:40.960> that<00:11:41.080> we<00:11:41.200> don't<00:11:41.440> end<00:11:41.560> up<00:11:41.760> in<00:11:41.920> a,<00:11:42.240> you<00:11:42.320> know,<00:11:42.520> third<00:11:42.880> world<00:11:43.120> country<00:11:44.360> um,

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sort<00:11:45.000> of<00:11:45.440> stage<00:11:45.920> of<00:11:46.280> energy<00:11:46.880> /<00:11:47.480> power<00:11:48.640> uh,<00:11:48.960> sources<00:11:49.480> and<00:11:49.600> resiliency.

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So,<00:11:51.040> that<00:11:51.240> has<00:11:51.360> never<00:11:51.600> changed,<00:11:52.080> but<00:11:52.240> the<00:11:52.320> world<00:11:52.560> has<00:11:52.800> changed,<00:11:53.200> right?

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I<00:11:53.520> mean,<00:11:53.720> there<00:11:53.840> was<00:11:53.960> a<00:11:54.040> lot<00:11:54.200> of<00:11:54.320> excitement<00:11:54.760> about<00:11:55.120> renewables<00:11:56.320> um,<00:11:57.360> 4<00:11:57.880> years<00:11:58.160> ago.

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Um,<00:11:59.433> just<00:11:59.745> like<00:12:00.058> there<00:12:00.370> was<00:12:00.683> a<00:12:00.995> lot<00:12:01.308> of<00:12:01.620> excitement<00:12:01.933> around<00:12:02.245> renewables<00:12:02.558> in<00:12:02.870> 2006<00:12:03.183> and<00:12:03.495> 7,<00:12:03.808> you<00:12:04.120> know.

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So,<00:12:04.680> renewables<00:12:05.200> always<00:12:05.480> have<00:12:05.640> like<00:12:06.640> 8<00:12:06.880> months<00:12:07.280> of<00:12:07.880> a<00:12:08.000> flood<00:12:08.360> of<00:12:08.520> capital<00:12:09.000> and<00:12:09.360> coming<00:12:09.640> into<00:12:09.840> the<00:12:09.920> space<00:12:11.160> and<00:12:11.280> then<00:12:11.400> like<00:12:11.560> a<00:12:11.640> decade<00:12:11.960> of<00:12:12.040> nothing<00:12:12.440> and<00:12:12.560> then

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like<00:12:12.880> 8<00:12:13.000> months<00:12:13.240> again<00:12:13.480> flood<00:12:13.680> of<00:12:13.800> capital<00:12:14.240> and<00:12:14.960> and<00:12:15.040> then<00:12:15.360> then<00:12:15.520> I<00:12:15.560> think<00:12:15.800> it's<00:12:15.920> one<00:12:16.080> of<00:12:16.160> the<00:12:16.280> issues,<00:12:16.680> right?

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With<00:12:16.960> the<00:12:17.040> growth<00:12:17.360> of<00:12:17.560> really<00:12:18.080> you<00:12:18.200> need<00:12:18.440> sustained<00:12:19.000> capital<00:12:19.520> coming<00:12:19.800> into<00:12:20.040> the<00:12:20.120> space,<00:12:20.880> high-quality<00:12:21.640> capital.

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What<00:12:22.880> we<00:12:23.040> are<00:12:23.200> seeing<00:12:23.560> a<00:12:23.640> ton<00:12:23.960> is<00:12:25.000> when<00:12:25.040> it<00:12:25.120> comes<00:12:25.400> to<00:12:25.520> the<00:12:25.640> second<00:12:26.160> pieces<00:12:26.640> of<00:12:26.800> our<00:12:27.680> you<00:12:27.720> know,<00:12:28.200> um,<00:12:28.800> sort<00:12:29.000> of<00:12:29.520> mission<00:12:30.920> is

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we<00:12:31.400> are<00:12:31.560> heavily<00:12:32.000> involved<00:12:32.840> uh,<00:12:33.120> with<00:12:33.440> the<00:12:33.560> businesses.

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So,<00:12:34.160> we<00:12:34.280> want<00:12:34.440> to<00:12:34.520> have<00:12:34.800> operational<00:12:35.560> approach.<00:12:36.040> We,<00:12:36.640> you<00:12:36.680> know,<00:12:36.800> part<00:12:37.040> of<00:12:37.120> my<00:12:37.320> life,<00:12:37.760> my<00:12:37.920> team's<00:12:38.360> life<00:12:39.280> the<00:12:39.440> advisors,<00:12:40.000> board<00:12:40.240> members<00:12:40.640> and<00:12:40.760> investors<00:12:41.280> we<00:12:41.360> have<00:12:41.520> around

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the<00:12:41.880> table<00:12:42.960> um,<00:12:43.839> vast<00:12:44.320> majority<00:12:44.800> of<00:12:44.920> them,<00:12:45.160> Clint,<00:12:45.560> are<00:12:45.720> coming<00:12:46.400> at<00:12:46.560> it<00:12:46.839> as<00:12:47.080> former<00:12:47.440> CEO,<00:12:48.080> CFOs,<00:12:48.760> et<00:12:48.920> cetera.

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So,<00:12:50.160> operators,<00:12:50.920> knowing<00:12:51.160> how<00:12:51.280> to<00:12:51.480> build<00:12:51.760> a<00:12:51.800> business<00:12:52.160> from<00:12:52.320> scratch,<00:12:53.360> knowing<00:12:53.640> how<00:12:53.839> to<00:12:54.560> supercharge<00:12:55.280> the<00:12:55.400> business,<00:12:55.839> scale<00:12:56.160> it<00:12:56.320> up<00:12:56.480> to<00:12:56.560> the<00:12:56.680> next<00:12:56.960> level<00:12:57.240> where<00:12:57.400> you

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do<00:12:57.640> have<00:12:57.800> the<00:12:57.920> Oracles<00:12:58.480> and<00:12:58.560> the<00:12:58.640> Microsofts<00:12:59.320> and<00:13:00.120> you<00:13:00.160> know,<00:13:00.240> Nvidia<00:13:00.600> as<00:13:00.760> your<00:13:00.920> customers<00:13:01.839> so,<00:13:02.600> really<00:13:02.880> having<00:13:03.160> an<00:13:03.360> operational<00:13:04.040> mindset,<00:13:04.800> uh,<00:13:04.960> that's<00:13:05.280> the<00:13:05.640> other,

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you<00:13:06.080> know,<00:13:06.360> really<00:13:06.600> important<00:13:07.040> piece<00:13:07.280> of<00:13:07.400> the<00:13:07.520> equation.

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So,<00:13:09.120> one<00:13:09.280> energy,<00:13:09.839> having<00:13:10.160> energy<00:13:10.480> across<00:13:11.320> fossil<00:13:11.680> fuels<00:13:12.160> and<00:13:12.280> renewables,<00:13:13.440> having<00:13:13.720> operational<00:13:14.320> mindset<00:13:14.880> and<00:13:15.640> like<00:13:15.839> I<00:13:15.880> said,<00:13:16.200> also

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across<00:13:16.960> public<00:13:17.360> and<00:13:17.680> and<00:13:18.200> uh,<00:13:18.360> private<00:13:18.720> arenas.

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[clears<00:13:20.030> throat]<00:13:20.296> Is<00:13:20.562> AI<00:13:20.828> one<00:13:21.094> of<00:13:21.359> the<00:13:21.625> things<00:13:21.891> that<00:13:22.157> have<00:13:22.423> really<00:13:22.689> drastically<00:13:22.955> changed<00:13:23.221> the<00:13:23.487> business<00:13:23.753> over<00:13:24.019> the<00:13:24.285> past<00:13:24.550> 5<00:13:24.816> years<00:13:25.082> uh,<00:13:25.348> or<00:13:25.614> the<00:13:25.880> world?

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Like,<00:13:26.670> how<00:13:27.019> are<00:13:27.369> you<00:13:27.718> thinking<00:13:28.068> about<00:13:28.417> AI?<00:13:28.767> <00:13:29.117> You<00:13:29.466> know,<00:13:29.816> coming<00:13:30.165> from<00:13:30.515> uh,<00:13:30.864> energy<00:13:31.214> businesses,<00:13:31.563> I<00:13:31.913> think<00:13:32.263> uh,<00:13:32.612> you<00:13:32.962> know,<00:13:33.311> we<00:13:33.661> are<00:13:34.010> used<00:13:34.360> to

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a<00:13:36.640> high<00:13:36.920> level<00:13:37.200> of<00:13:37.280> volatility,<00:13:38.320> right?

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And<00:13:38.880> so,<00:13:39.320> whether<00:13:39.720> it's<00:13:41.160> um,<00:13:42.200> you<00:13:42.320> know,<00:13:42.800> onshoring,<00:13:43.880> whether<00:13:44.160> it's<00:13:44.800> um,<00:13:45.600> you<00:13:45.720> know,<00:13:45.960> having<00:13:46.280> new<00:13:46.440> industrials,<00:13:47.520> whether

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it's<00:13:48.440> renewables<00:13:49.040> coming<00:13:49.400> to<00:13:49.560> play,<00:13:50.360> whether<00:13:50.880> you<00:13:50.960> know,<00:13:51.440> whatever<00:13:51.800> it<00:13:51.920> may<00:13:52.160> be,<00:13:53.200> um,<00:13:54.000> we<00:13:54.200> we<00:13:54.320> are<00:13:54.400> just<00:13:54.680> used<00:13:55.000> to<00:13:55.080> volatility.

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So,<00:13:55.960> energy<00:13:56.440> is<00:13:57.360> That's<00:13:57.520> why<00:13:57.720> I<00:13:57.880> have<00:13:58.120> been<00:13:58.320> in<00:13:58.440> energy<00:13:58.880> and<00:13:59.240> that's<00:13:59.480> why<00:13:59.600> I<00:13:59.680> do<00:13:59.880> like<00:14:00.200> energy<00:14:00.600> clean.

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Whether<00:14:01.120> we<00:14:01.280> like<00:14:01.520> it<00:14:01.640> or<00:14:01.760> not,<00:14:02.880> it<00:14:03.000> is<00:14:03.160> the<00:14:03.280> backbone<00:14:04.120> of<00:14:04.840> everything<00:14:05.560> we<00:14:05.760> do<00:14:05.960> daily,<00:14:06.320> whether<00:14:06.520> it's<00:14:06.640> the<00:14:06.760> clothes<00:14:07.080> we<00:14:07.240> wear,<00:14:07.600> or<00:14:07.720> whether<00:14:07.960> it's<00:14:08.120> the<00:14:08.200> car<00:14:08.440> we<00:14:08.560> drive,

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or<00:14:09.120> whether<00:14:09.360> it's<00:14:10.120> you<00:14:10.160> know,<00:14:10.360> the<00:14:10.800> the<00:14:11.480> uh,<00:14:11.600> AC<00:14:12.080> that<00:14:12.280> you<00:14:12.400> turn<00:14:12.720> on<00:14:13.040> or<00:14:13.160> your<00:14:13.320> heating,<00:14:14.520> you<00:14:14.960> can't<00:14:15.640> get<00:14:15.960> rid<00:14:16.120> of<00:14:16.240> it.

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So,<00:14:17.120> when<00:14:17.320> you<00:14:17.880> uh,<00:14:17.920> overlay<00:14:18.520> AI<00:14:19.000> on<00:14:19.200> top<00:14:19.400> of<00:14:19.520> that,<00:14:20.680> everybody's<00:14:21.080> very<00:14:21.240> excited<00:14:21.600> about<00:14:22.120> about<00:14:22.440> AI,<00:14:23.160> you<00:14:23.240> know,<00:14:23.520> so<00:14:23.680> am<00:14:23.920> I.

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I<00:14:24.200> use<00:14:24.400> ChatGPT<00:14:25.000> 2<00:14:25.120> and<00:14:25.280> a<00:14:25.320> bunch<00:14:25.520> of<00:14:25.600> other<00:14:26.400> AI<00:14:26.720> agents<00:14:27.200> and<00:14:27.280> it's<00:14:27.440> great<00:14:27.840> and<00:14:27.960> it's<00:14:28.200> it's<00:14:28.400> going<00:14:28.560> to<00:14:28.600> be<00:14:28.720> transformational,<00:14:29.440> it's<00:14:29.560> already<00:14:29.839> transformational,<00:14:31.240> but

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what<00:14:31.640> we<00:14:32.000> feel,<00:14:32.760> and<00:14:32.839> that's<00:14:33.040> why<00:14:33.160> I'm<00:14:33.320> even<00:14:33.560> more<00:14:34.600> excited<00:14:35.000> about<00:14:35.240> energy<00:14:35.520> today<00:14:35.880> than<00:14:36.080> I<00:14:36.160> was<00:14:36.360> during<00:14:36.680> the,<00:14:37.080> you<00:14:37.160> know,<00:14:37.320> oil<00:14:37.480> and<00:14:37.600> gas<00:14:38.080> shale<00:14:38.400> boom,<00:14:39.600> is

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AI<00:14:41.760> is<00:14:41.960> constrained<00:14:42.560> by<00:14:42.800> energy.

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It<00:14:44.680> is<00:14:44.880> it's<00:14:45.040> not<00:14:45.480> you<00:14:45.520> know,<00:14:45.640> energy<00:14:46.040> and<00:14:46.200> actually<00:14:46.440> I<00:14:46.480> would<00:14:46.640> say<00:14:47.400> sort<00:14:47.560> of<00:14:47.680> blockchain,<00:14:48.800> uh,<00:14:49.040> so<00:14:49.160> the<00:14:49.320> trust<00:14:49.640> level<00:14:49.920> in<00:14:50.000> terms<00:14:50.280> of<00:14:50.360> the<00:14:50.480> blockchain<00:14:51.080> and<00:14:51.320> and<00:14:51.480> tokenization

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and<00:14:53.320> energy<00:14:54.200> being<00:14:54.440> the<00:14:54.560> feeder<00:14:55.000> and<00:14:55.240> and<00:14:55.720> um,<00:14:55.880> you<00:14:55.960> know,<00:14:56.120> AI<00:14:56.440> actually<00:14:57.200> uh,<00:14:57.320> being<00:14:57.560> enabled<00:14:58.000> and<00:14:58.360> and<00:14:58.760> having<00:14:59.040> data<00:14:59.280> center<00:14:59.520> and<00:14:59.640> AI<00:14:59.839> training<00:15:00.120> facilities,<00:15:00.600> etc.

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So,<00:15:02.040> I<00:15:02.160> am<00:15:02.280> even<00:15:02.520> more<00:15:02.680> so<00:15:02.800> excited<00:15:03.120> about<00:15:03.320> energy<00:15:03.640> and<00:15:03.760> obviously<00:15:04.640> um,<00:15:04.839> I<00:15:04.920> think<00:15:05.160> we<00:15:05.360> came<00:15:05.640> to<00:15:05.800> an<00:15:05.960> energy<00:15:06.360> realism<00:15:07.000> now,<00:15:08.000> uh,<00:15:08.320> where<00:15:08.440> we<00:15:08.880> were<00:15:09.000> not<00:15:09.320> there,

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you<00:15:09.920> know,<00:15:10.160> four<00:15:10.400> years<00:15:10.640> ago.<00:15:10.960> We<00:15:11.080> all<00:15:11.200> wanted<00:15:11.480> super<00:15:11.760> green<00:15:12.000> stuff.

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I<00:15:12.720> think<00:15:13.080> any<00:15:13.280> reasonable<00:15:13.720> person<00:15:14.120> wants<00:15:15.080> something<00:15:15.360> that's<00:15:15.520> green.

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I<00:15:16.000> mean,<00:15:16.160> it's<00:15:16.280> nicer.<00:15:16.640> Your<00:15:17.040> children<00:15:17.320> are<00:15:17.400> going<00:15:17.520> to<00:15:17.600> live<00:15:17.760> in<00:15:17.839> a<00:15:17.880> cleaner<00:15:18.160> environment.

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It<00:15:18.800> doesn't<00:15:19.080> take<00:15:19.240> a<00:15:19.280> rocket<00:15:19.600> scientist<00:15:19.960> to<00:15:20.000> figure<00:15:20.240> that<00:15:20.480> out,<00:15:20.680> but<00:15:21.640> you<00:15:21.800> also<00:15:22.080> don't<00:15:22.280> want<00:15:22.480> your<00:15:22.640> children<00:15:23.080> to<00:15:23.200> be<00:15:23.360> living<00:15:23.680> in<00:15:23.840> a,<00:15:24.440> you<00:15:24.520> know,<00:15:24.640> environment<00:15:25.240> where<00:15:25.560> they

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have<00:15:26.600> constant<00:15:27.200> electricity<00:15:27.800> outages<00:15:28.320> like<00:15:28.480> they<00:15:28.600> have<00:15:28.800> in<00:15:28.960> Venezuela<00:15:29.640> or<00:15:29.760> Bangladesh.

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Um<00:15:31.560> I<00:15:31.640> mean,<00:15:31.800> I<00:15:31.880> literally<00:15:32.280> have<00:15:32.440> never,<00:15:32.760> and<00:15:32.880> I<00:15:32.920> lived<00:15:33.160> in<00:15:33.320> Chile,<00:15:34.120> I<00:15:34.200> lived<00:15:34.440> in<00:15:34.600> Egypt,<00:15:35.440> I<00:15:35.520> lived<00:15:35.800> in<00:15:36.040> the<00:15:36.160> United<00:15:36.520> Arab<00:15:36.760> Emirates,<00:15:37.720> I<00:15:37.920> lived<00:15:38.080> in<00:15:38.280> Africa.

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I<00:15:39.000> mean,<00:15:39.320> I<00:15:39.480> have<00:15:39.800> never<00:15:40.440> in<00:15:40.640> my<00:15:40.880> life<00:15:41.320> experienced<00:15:42.160> so<00:15:42.440> many<00:15:42.760> power<00:15:43.160> outages<00:15:44.280> as<00:15:44.440> I<00:15:44.560> have<00:15:44.920> in<00:15:45.080> the<00:15:45.200> US.

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Right,<00:15:46.720> so<00:15:46.920> AI<00:15:47.200> is<00:15:47.320> exciting.<00:15:48.400> It's<00:15:48.760> really<00:15:49.200> large-scale.

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The<00:15:50.120> numbers<00:15:50.520> are<00:15:50.720> super<00:15:51.400> overwhelming,<00:15:52.120> Clint.

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or<00:16:01.160> Texas<00:16:01.640> phenomenon.<00:16:03.160> San<00:16:03.360> Francisco<00:16:03.880> needs<00:16:04.200> Texas<00:16:04.720> or,<00:16:05.000> you<00:16:05.040> know,<00:16:05.160> I'm<00:16:05.560> sort<00:16:05.720> of<00:16:05.800> exaggerating<00:16:06.400> here,<00:16:06.560> but<00:16:07.080> San<00:16:07.200> Francisco<00:16:07.640> needs<00:16:07.840> energy.

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a<00:16:18.880> pipeline<00:16:20.120> to<00:16:20.440> building<00:16:20.840> a<00:16:20.920> power<00:16:21.200> facility,<00:16:22.240> to<00:16:22.400> building<00:16:22.800> a<00:16:22.840> data<00:16:23.160> center<00:16:23.400> facility<00:16:23.840> next<00:16:24.120> to<00:16:24.280> it<00:16:24.440> that's<00:16:24.600> being<00:16:24.839> powered<00:16:25.080> by<00:16:25.200> that<00:16:25.400> power<00:16:25.640> facility,<00:16:26.160> but<00:16:26.400> building

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a<00:16:26.720> resiliency<00:16:27.520> facility<00:16:27.960> next<00:16:28.240> to<00:16:28.360> it.

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If<00:16:34.720> everything<00:16:35.320> doesn't<00:16:35.720> fall<00:16:36.040> in<00:16:36.200> place<00:16:36.560> exactly<00:16:37.200> how<00:16:37.400> it<00:16:37.560> should,<00:16:38.640> people<00:16:39.120> will<00:16:39.360> die.

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It's<00:16:40.600> not<00:16:40.760> like<00:16:40.960> some<00:16:41.120> teenager<00:16:41.520> is<00:16:41.600> going<00:16:41.720> to<00:16:41.800> get<00:16:42.000> get<00:16:42.160> upset<00:16:42.520> because<00:16:42.800> his<00:16:42.960> app<00:16:43.160> is<00:16:43.280> not<00:16:43.400> going<00:16:43.520> to<00:16:43.600> work<00:16:43.800> for<00:16:44.320> 10<00:16:44.520> seconds.

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[clears<00:17:20.555> throat]<00:17:20.951> Is<00:17:21.346> there<00:17:21.741> an<00:17:22.136> industry<00:17:22.532> or<00:17:22.927> sector<00:17:23.322> with<00:17:23.718> more<00:17:24.113> promise<00:17:24.508> than<00:17:24.904> energy<00:17:25.299> over<00:17:25.694> the<00:17:26.089> next<00:17:26.485> 20<00:17:26.880> years?

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I<00:17:27.240> mean,<00:17:27.360> I'm<00:17:27.439> trying<00:17:27.640> to<00:17:27.720> think<00:17:27.880> like<00:17:28.400> I<00:17:28.480> do<00:17:28.640> think<00:17:28.880> energy<00:17:29.240> is<00:17:29.400> going<00:17:29.720> to<00:17:29.840> be<00:17:30.560> the<00:17:30.800> focus.

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It's<00:17:42.120> It's<00:17:42.320> really<00:17:42.600> a<00:17:42.680> fascinating<00:17:43.200> time<00:17:43.440> to<00:17:43.560> be<00:17:43.640> doing<00:17:43.920> what<00:17:44.040> you're<00:17:44.160> doing.

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And<00:17:45.720> we<00:17:45.840> were<00:17:45.960> obviously<00:17:46.440> excited<00:17:46.840> about<00:17:47.080> digital<00:17:47.440> assets<00:17:47.800> as<00:17:47.960> well,<00:17:48.120> Clint.

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Um<00:17:49.360> you<00:17:49.480> know,<00:17:49.600> Like<00:17:49.680> crypto<00:17:50.200> and<00:17:50.960> Bitcoin<00:17:51.400> and<00:17:51.520> things<00:17:51.760> like<00:17:51.880> that.

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Yeah.<00:17:52.280> Yes,<00:17:52.440> so<00:17:52.520> Bitcoin,<00:17:53.080> Ethereum.<00:17:53.720> We<00:17:54.000> We<00:17:54.080> had<00:17:54.200> the<00:17:54.280> last<00:17:54.560> company<00:17:54.880> we<00:17:55.000> acquired<00:17:56.400> uh<00:17:56.600> about<00:17:56.840> 2.2<00:17:57.560> billion<00:17:57.960> dollars<00:17:58.320> now<00:17:58.560> that<00:17:58.720> we<00:17:58.880> raised<00:17:59.160> for<00:17:59.280> the<00:17:59.400> business<00:17:59.960> since

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July.<00:18:01.680> Um<00:18:02.400> it's<00:18:02.680> the<00:18:02.880> Ether<00:18:03.120> machine.

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High-quality<00:18:09.360> team,<00:18:09.920> you<00:18:10.000> know,<00:18:10.600> uh<00:18:10.680> obviously<00:18:11.000> that's<00:18:11.240> a<00:18:11.880> that's<00:18:12.080> a<00:18:12.160> digital<00:18:12.720> asset<00:18:13.280> that<00:18:13.520> has<00:18:13.840> use.

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Besides,<00:18:15.320> it<00:18:15.440> has<00:18:15.600> contractual<00:18:16.840> nature.

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Bitcoin<00:18:17.400> is<00:18:17.560> more<00:18:18.280> static,<00:18:18.840> I<00:18:18.920> would<00:18:19.080> say.

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Ethereum<00:18:20.160> is<00:18:20.280> more<00:18:20.600> active.<00:18:21.640> So,<00:18:22.280> uh<00:18:22.400> we<00:18:22.560> do<00:18:22.760> think<00:18:23.080> that<00:18:23.680> uh<00:18:23.760> a<00:18:23.880> lot<00:18:24.200> of<00:18:24.280> the<00:18:24.400> features<00:18:24.960> that<00:18:25.960> you<00:18:26.200> see<00:18:26.600> in<00:18:26.880> energy<00:18:27.840> are

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also<00:18:28.320> features<00:18:28.760> that<00:18:28.920> you<00:18:29.040> will<00:18:29.200> ultimately<00:18:29.720> see<00:18:29.840> in<00:18:29.960> crypto.

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It<00:18:30.760> will,<00:18:31.120> you<00:18:31.200> know,<00:18:31.560> crypto<00:18:31.920> is<00:18:32.120> different<00:18:32.600> from<00:18:32.760> a<00:18:32.800> perspective,<00:18:33.760> I<00:18:33.880> would<00:18:34.080> say,<00:18:34.320> Clint.

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Energy<00:18:35.720> has<00:18:35.960> been<00:18:36.120> here<00:18:36.480> for<00:18:37.920> thousands<00:18:38.520> of<00:18:38.680> years,<00:18:39.200> really.

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Um<00:18:40.680> it<00:18:40.840> is,<00:18:41.160> you<00:18:41.240> know,<00:18:41.400> you<00:18:41.760> needed<00:18:42.080> the<00:18:42.200> fire<00:18:42.600> to<00:18:43.000> heat<00:18:43.200> your<00:18:43.440> soup<00:18:43.760> or<00:18:43.880> whatever.

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Um<00:18:45.800> that<00:18:46.000> is<00:18:46.160> a<00:18:46.880> that<00:18:47.240> that's<00:18:47.520> been<00:18:48.200> stagnant,<00:18:48.920> right?

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It<00:18:49.240> changes.<00:18:49.840> It<00:18:50.000> went<00:18:50.200> from<00:18:50.440> wood<00:18:50.800> to<00:18:51.040> coal<00:18:52.360> to<00:18:52.440> obviously<00:18:52.880> oil<00:18:53.080> and<00:18:53.200> gas,<00:18:53.680> and<00:18:53.760> now<00:18:53.920> it's<00:18:54.040> going<00:18:54.240> into<00:18:54.440> renewables,<00:18:55.120> and<00:18:55.200> maybe<00:18:55.400> one<00:18:55.560> day<00:18:55.640> nuclear,<00:18:56.080> et<00:18:56.200> cetera,<00:18:56.440> et

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cetera.<00:18:57.520> So,<00:18:57.600> it<00:18:57.840> changes<00:18:58.440> its<00:18:58.600> nature,<00:19:00.120> but<00:19:00.280> it<00:19:00.400> is<00:19:00.600> mission-critical<00:19:02.400> over,<00:19:02.840> you<00:19:02.920> know,<00:19:03.040> as<00:19:03.280> as<00:19:03.760> as<00:19:03.960> long<00:19:04.200> as<00:19:04.320> humankind<00:19:05.000> is

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is<00:19:05.640> is<00:19:05.800> here.<00:19:07.160> Crypto<00:19:07.520> is<00:19:07.680> a<00:19:07.720> little<00:19:07.880> different,<00:19:08.640> right?

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So,<00:19:09.000> it<00:19:09.160> will<00:19:09.320> change<00:19:09.760> our<00:19:09.880> life,<00:19:10.160> or<00:19:10.280> is<00:19:10.400> it<00:19:10.520> it<00:19:10.640> is<00:19:10.760> changing<00:19:11.200> our<00:19:11.320> lives.

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But,<00:19:12.840> it's<00:19:13.000> similar<00:19:13.360> to,<00:19:13.840> you<00:19:13.960> know,<00:19:14.280> your<00:19:14.760> iPhone,<00:19:15.360> or<00:19:15.560> it's<00:19:15.720> similar<00:19:16.120> to<00:19:16.360> internet.

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Um<00:19:17.960> it<00:19:18.120> really<00:19:18.360> will<00:19:18.560> change<00:19:18.880> our<00:19:19.000> lives<00:19:19.360> in<00:19:19.440> a<00:19:19.520> way<00:19:19.680> that<00:19:19.840> we<00:19:19.960> don't<00:19:20.120> even<00:19:20.320> comprehend.

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When<00:19:21.680> Steve<00:19:21.960> Jobs<00:19:22.360> was<00:19:22.480> pitching,<00:19:23.000> you<00:19:23.120> know,<00:19:23.600> um<00:19:24.280> iPhone,<00:19:24.720> everybody<00:19:25.080> was<00:19:25.240> laughing<00:19:25.600> at<00:19:25.720> him,<00:19:26.000> and<00:19:26.200> now<00:19:26.480> we<00:19:26.640> cannot<00:19:27.000> imagine<00:19:27.840> life<00:19:28.120> without<00:19:28.440> it,<00:19:28.600> right?

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Um<00:19:30.040> obviously<00:19:30.320> same<00:19:30.560> with<00:19:30.680> Bill<00:19:30.840> Gates<00:19:31.280> and<00:19:31.400> internet,<00:19:31.840> etc.

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So,<00:19:33.160> uh<00:19:33.360> we<00:19:33.560> feel<00:19:33.800> that<00:19:33.960> way<00:19:34.080> about<00:19:34.320> crypto,<00:19:34.720> but<00:19:34.880> it's<00:19:35.040> just<00:19:35.280> a<00:19:35.320> little<00:19:35.520> different<00:19:35.800> story.

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This<00:19:36.320> is<00:19:36.920> it's<00:19:37.120> obviously<00:19:37.480> a<00:19:37.520> little<00:19:37.760> newer.

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It<00:19:38.280> wasn't<00:19:38.520> here<00:19:38.680> 10<00:19:39.160> 10<00:19:39.360> years<00:19:39.600> ago,<00:19:39.880> and<00:19:40.040> then<00:19:40.560> prominent<00:19:41.360> you<00:19:41.440> know,<00:19:41.640> over<00:19:41.720> the<00:19:41.800> past<00:19:41.920> decade,<00:19:42.280> but<00:19:42.840> it's<00:19:43.000> now<00:19:43.280> sort<00:19:43.480> of<00:19:43.800> um<00:19:44.880> really<00:19:45.160> on<00:19:45.240> a<00:19:45.320> path<00:19:45.640> to<00:19:45.760> change<00:19:46.120> everybody's

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life,<00:19:46.880> daily<00:19:47.160> life.<00:19:47.440> Um<00:19:47.720> [clears<00:19:48.000> throat]<00:19:48.280> but,<00:19:48.560> I<00:19:48.840> am<00:19:49.120> excited<00:19:49.400> about<00:19:49.680> energy<00:19:49.960> because<00:19:50.240> that's<00:19:50.520> something<00:19:50.800> that<00:19:51.080> that's<00:19:51.360> stagnant.

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You<00:19:51.920> cannot<00:19:52.240> avoid<00:19:52.560> it,<00:19:52.760> no<00:19:52.960> matter<00:19:53.240> what<00:19:53.520> you<00:19:53.680> do.

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What<00:19:55.560> does<00:19:55.680> a<00:19:55.760> typical<00:19:56.120> day<00:19:56.320> look<00:19:56.480> like<00:19:56.680> for<00:19:56.840> you?<00:19:59.040> I<00:19:59.200> do<00:19:59.360> not<00:19:59.680> have<00:19:59.880> a<00:19:59.960> typical<00:20:00.400> day.

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Um<00:20:02.640> I<00:20:02.760> think<00:20:03.080> one<00:20:03.240> of<00:20:03.360> the<00:20:03.520> features<00:20:04.200> of<00:20:04.920> uh<00:20:05.520> you<00:20:05.600> know,<00:20:05.840> a<00:20:06.680> entrepreneur<00:20:07.280> or<00:20:07.360> CEO,<00:20:08.480> um<00:20:09.360> you

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have<00:20:09.600> to<00:20:09.720> be<00:20:09.840> very<00:20:10.040> flexible.<00:20:10.560> I<00:20:10.640> said<00:20:10.800> this<00:20:10.960> to<00:20:11.080> my<00:20:11.240> kids,<00:20:11.520> and<00:20:11.640> I<00:20:11.720> have<00:20:11.920> to<00:20:12.080> sort<00:20:12.240> of<00:20:12.440> do<00:20:12.560> that<00:20:12.720> myself,<00:20:13.280> but<00:20:14.160> um<00:20:15.680> you<00:20:15.760> know,<00:20:16.040> I<00:20:16.200> am<00:20:16.440> generally<00:20:16.800> a<00:20:16.840> highly<00:20:17.160> structured<00:20:17.600> person.

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I<00:20:18.000> like<00:20:18.200> to<00:20:18.280> be<00:20:18.400> organized,<00:20:19.000> you<00:20:19.080> know,<00:20:19.160> those<00:20:19.600> maybe<00:20:19.840> those<00:20:20.040> are<00:20:20.160> my<00:20:20.280> European<00:20:20.920> roots,<00:20:21.280> but<00:20:21.800> uh<00:20:22.680> I<00:20:22.800> just<00:20:23.040> learned<00:20:23.560> it's,<00:20:24.160> you<00:20:24.280> know,<00:20:24.440> I<00:20:24.680> can't<00:20:24.960> do<00:20:25.080> that<00:20:25.320> because<00:20:26.680> it

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you<00:20:27.560> know,<00:20:27.680> I<00:20:27.800> travel<00:20:28.120> a<00:20:28.200> lot,<00:20:28.720> so<00:20:28.840> that's<00:20:28.960> number<00:20:29.160> one.

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Uh<00:20:29.840> our<00:20:29.960> business<00:20:30.320> involves<00:20:30.720> a<00:20:30.760> lot<00:20:30.920> of<00:20:31.040> meeting<00:20:31.280> people,<00:20:31.640> both<00:20:31.880> investors<00:20:32.520> as<00:20:32.680> well<00:20:32.840> as<00:20:32.960> companies.

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Um<00:20:35.760> but,<00:20:35.960> I<00:20:36.040> also,<00:20:36.720> you<00:20:36.840> know,<00:20:37.040> we<00:20:37.680> our<00:20:37.840> daily<00:20:38.120> lives<00:20:38.440> change<00:20:38.720> quite<00:20:38.920> a<00:20:39.000> bit<00:20:39.240> because<00:20:39.640> of<00:20:40.360> where<00:20:40.560> we<00:20:40.760> are<00:20:40.920> in<00:20:41.000> the<00:20:41.120> stage<00:20:41.400> of<00:20:41.520> investment<00:20:41.960> process.

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So,<00:20:43.440> you<00:20:43.480> know,<00:20:43.560> right<00:20:43.760> now,<00:20:43.920> for<00:20:44.040> example,<00:20:44.560> we<00:20:44.680> are<00:20:44.760> closing<00:20:45.240> our<00:20:45.400> Ether<00:20:45.600> machine<00:20:46.000> deal.

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Uh<00:20:47.200> at<00:20:47.280> the<00:20:47.400> same<00:20:47.640> time,<00:20:48.000> we<00:20:48.280> uh<00:20:48.560> you<00:20:48.640> know,<00:20:48.840> we<00:20:49.000> filed<00:20:49.360> for<00:20:49.600> our<00:20:49.880> third<00:20:50.280> SPAC.

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So,<00:20:51.400> we<00:20:51.520> are<00:20:51.600> raising<00:20:51.920> multiple<00:20:52.280> sources<00:20:52.640> of<00:20:52.760> capital<00:20:53.280> across<00:20:53.920> uh<00:20:54.040> you<00:20:54.080> know,<00:20:54.200> all<00:20:54.360> those<00:20:55.000> um<00:20:55.880> all<00:20:56.000> those<00:20:56.200> features.

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So,<00:20:56.680> my<00:20:56.840> day<00:20:57.080> is<00:20:57.400> is<00:20:57.720> quite<00:20:58.960> volatile,<00:20:59.520> but<00:20:59.680> it<00:20:59.800> is<00:20:59.960> dealing<00:21:00.360> a<00:21:00.440> lot<00:21:00.760> with<00:21:00.960> people,<00:21:01.960> and<00:21:02.080> I<00:21:02.160> would<00:21:02.320> say<00:21:02.480> one<00:21:02.720> thing,<00:21:02.960> and<00:21:03.120> I'm<00:21:03.560> listening<00:21:04.040> to,<00:21:04.160> you<00:21:04.240> know,<00:21:04.400> the<00:21:05.520> Richard

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Bransons<00:21:06.360> and<00:21:06.520> others<00:21:07.000> that,<00:21:07.320> you<00:21:07.400> know,<00:21:07.720> give<00:21:08.120> kind<00:21:08.360> of<00:21:09.080> you<00:21:09.120> know,<00:21:09.280> pieces<00:21:09.680> of<00:21:09.800> advice.

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Uh<00:21:11.680> I<00:21:11.760> do<00:21:12.080> feel<00:21:12.480> that<00:21:12.640> I<00:21:12.720> need<00:21:12.960> more<00:21:13.200> time<00:21:13.600> to<00:21:13.720> be<00:21:13.840> carved<00:21:14.320> out<00:21:15.120> where<00:21:15.240> I<00:21:15.360> can<00:21:15.520> actually<00:21:15.840> think.

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So,<00:21:17.320> having<00:21:17.600> more,<00:21:17.960> you<00:21:18.040> know,<00:21:18.200> running<00:21:18.520> time<00:21:18.840> where<00:21:18.960> I<00:21:19.040> can<00:21:19.280> think<00:21:19.640> or<00:21:19.760> more<00:21:19.960> driving<00:21:20.440> time<00:21:20.760> without,<00:21:21.880> you<00:21:22.000> know,<00:21:22.440> any<00:21:22.800> any<00:21:23.200> podcast<00:21:23.960> or<00:21:24.040> anything<00:21:24.360> like<00:21:24.520> that,<00:21:24.760> just

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quiet<00:21:26.000> time<00:21:26.400> where<00:21:26.720> where<00:21:26.880> you<00:21:26.960> can<00:21:27.120> really<00:21:27.400> think<00:21:27.640> and<00:21:27.760> reflect.

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Um<00:21:29.360> Cuz<00:21:29.480> as<00:21:29.680> as<00:21:29.840> we<00:21:30.000> do<00:21:30.320> talk<00:21:30.560> about<00:21:30.800> AI<00:21:31.160> clients,<00:21:31.640> I<00:21:31.720> mean,<00:21:33.000> I<00:21:33.120> have<00:21:33.920> a<00:21:34.000> lot<00:21:34.360> of<00:21:34.520> arguments<00:21:35.120> with<00:21:35.320> ChatGPT.

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Uh<00:21:37.720> because,<00:21:38.320> you<00:21:38.440> know,<00:21:39.000> um<00:21:39.240> it<00:21:39.400> sort<00:21:39.640> of<00:21:41.200> um<00:21:41.760> spits<00:21:42.240> out,<00:21:43.000> uh<00:21:43.400> you<00:21:43.520> know,<00:21:43.720> the<00:21:43.960> obvious<00:21:45.280> kind

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of<00:21:45.760> things,<00:21:46.360> right?<00:21:46.760> And<00:21:46.960> so,<00:21:48.040> um<00:21:49.320> what<00:21:49.480> I<00:21:49.560> feel<00:21:49.880> is<00:21:50.080> really<00:21:50.320> going<00:21:50.440> to<00:21:50.480> be<00:21:50.600> important<00:21:51.240> in<00:21:51.400> our<00:21:51.560> generation,<00:21:52.200> but<00:21:52.520> more<00:21:52.720> importantly,<00:21:53.280> I<00:21:53.360> think<00:21:53.640> our

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kids'<00:21:54.080> generation<00:21:54.680> is<00:21:55.560> just<00:21:55.760> this<00:21:55.960> higher-level<00:21:56.800> thinking.

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And<00:21:58.600> so,<00:21:59.120> you<00:21:59.240> know,<00:21:59.320> you<00:21:59.360> have<00:21:59.520> to<00:21:59.640> read<00:21:59.880> a<00:21:59.920> lot<00:22:00.360> and<00:22:00.520> consume<00:22:00.920> a<00:22:00.960> lot,<00:22:01.080> but<00:22:01.240> at<00:22:01.280> the<00:22:01.400> same<00:22:01.680> time,<00:22:02.040> you<00:22:02.080> have<00:22:02.240> to<00:22:02.360> like<00:22:03.080> really<00:22:03.280> sit<00:22:03.560> back<00:22:04.520> and<00:22:04.680> reflect<00:22:05.440> and<00:22:05.840> be<00:22:06.000> able<00:22:06.240> to

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produce<00:22:07.720> thinking<00:22:08.160> that<00:22:08.400> ChatGPT<00:22:09.320> cannot<00:22:09.760> produce.

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So,<00:22:11.520> I'm<00:22:11.680> really<00:22:11.880> hoping<00:22:12.160> that<00:22:12.320> I<00:22:12.360> can<00:22:12.520> carve<00:22:12.760> out<00:22:12.920> more<00:22:13.080> of<00:22:13.160> that<00:22:13.400> time<00:22:13.680> and<00:22:14.440> have<00:22:14.520> more<00:22:14.720> quiet<00:22:15.080> time<00:22:15.320> and<00:22:15.440> thinking<00:22:15.800> time.

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[clears<00:22:17.203> throat]<00:22:17.536> Yeah.<00:22:17.869> Yeah,<00:22:18.201> that's<00:22:18.534> that's<00:22:18.867> that's<00:22:19.200> beautiful.

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Uh<00:22:20.520> give<00:22:20.680> me<00:22:20.800> a<00:22:20.840> sense<00:22:21.080> for<00:22:21.200> how<00:22:21.320> you<00:22:21.440> think<00:22:21.640> of<00:22:21.720> like<00:22:21.880> the<00:22:22.000> macroeconomics<00:22:23.000> we're<00:22:23.160> in,<00:22:23.600> like<00:22:23.800> the<00:22:23.880> state<00:22:24.160> of<00:22:24.200> the<00:22:24.320> world.

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Obviously,<00:22:25.135> tariffs<00:22:25.390> were<00:22:25.645> a<00:22:25.900> big<00:22:26.155> deal,<00:22:26.410> still<00:22:26.665> are<00:22:26.920> in<00:22:27.175> some<00:22:27.430> ways,<00:22:27.685> but<00:22:27.940> there<00:22:28.195> was<00:22:28.450> a<00:22:28.705> lot<00:22:28.960> of<00:22:29.215> volatility<00:22:29.470> the<00:22:29.725> first<00:22:29.980> 6<00:22:30.235> months<00:22:30.490> of<00:22:30.745> this<00:22:31.000> year.

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How<00:22:31.880> are<00:22:32.000> you<00:22:32.120> thinking<00:22:32.440> about<00:22:32.640> it<00:22:32.760> now<00:22:33.280> going<00:22:33.600> into<00:22:35.000> uh<00:22:35.080> 2026?

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You<00:22:38.323> know,<00:22:38.606> I<00:22:38.889> think<00:22:39.171> that<00:22:39.454> at<00:22:39.737> this<00:22:40.020> point<00:22:40.303> we're<00:22:40.586> used<00:22:40.869> to<00:22:41.151> uh<00:22:41.434> just<00:22:41.717> constant<00:22:42.000> changes.

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So,<00:22:43.080> I<00:22:43.280> don't,<00:22:43.720> you<00:22:43.760> know,<00:22:43.920> and<00:22:44.040> maybe<00:22:44.320> again<00:22:44.600> being<00:22:44.840> trained<00:22:45.160> in<00:22:45.280> the<00:22:45.360> oil<00:22:45.520> and<00:22:45.640> gas<00:22:45.920> space<00:22:46.320> where<00:22:46.520> you<00:22:46.640> have<00:22:47.440> high<00:22:47.600> level<00:22:47.880> of<00:22:48.000> volatility<00:22:48.600> by<00:22:48.760> definition.

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You<00:22:49.480> know,<00:22:49.560> what<00:22:49.720> is<00:22:49.880> OPEC<00:22:50.200> going<00:22:50.360> to<00:22:50.440> do<00:22:50.760> and<00:22:51.160> all<00:22:51.320> that,<00:22:51.640> you<00:22:51.720> know,<00:22:51.880> so<00:22:52.840> and<00:22:53.360> and<00:22:53.520> conflicts<00:22:54.160> around<00:22:54.400> the<00:22:54.480> world,<00:22:54.920> you<00:22:55.000> know,<00:22:55.120> that's<00:22:55.360> something<00:22:55.680> that<00:22:55.960> really<00:22:56.160> has

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been<00:22:56.520> part<00:22:56.880> of<00:22:57.720> our<00:22:57.960> own<00:22:58.240> lives<00:22:58.800> anyways<00:22:59.440> in<00:22:59.640> our<00:22:59.920> energy<00:23:00.320> space,<00:23:00.880> and<00:23:01.000> it's<00:23:01.160> now<00:23:01.400> sort<00:23:01.680> of<00:23:02.400> amplified,<00:23:03.080> obviously,<00:23:04.000> uh<00:23:04.160> across<00:23:04.480> the

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economy.<00:23:05.000> So,<00:23:06.200> um<00:23:07.000> I<00:23:07.160> I<00:23:07.240> do<00:23:07.520> think<00:23:07.960> I'm<00:23:08.200> I'm<00:23:08.320> excited<00:23:08.800> about<00:23:09.040> the<00:23:09.120> opportunities<00:23:09.920> that<00:23:10.120> are<00:23:10.280> ahead,<00:23:10.640> you<00:23:10.720> know,<00:23:10.920> I<00:23:11.160> I<00:23:12.000> liberation<00:23:12.600> day

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wasn't<00:23:13.080> great,<00:23:13.600> you<00:23:13.680> know,<00:23:13.840> that<00:23:14.120> caused<00:23:14.480> a<00:23:14.520> lot<00:23:14.720> of<00:23:14.880> panic,<00:23:15.400> and<00:23:15.520> I<00:23:15.560> think<00:23:15.800> it<00:23:15.880> took<00:23:16.040> a<00:23:16.080> few<00:23:16.360> months<00:23:16.680> for<00:23:17.480> investors<00:23:18.000> to<00:23:18.120> sit<00:23:18.280> on<00:23:18.400> the<00:23:18.480> sidelines,<00:23:19.120> figure<00:23:19.400> out<00:23:19.520> their

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own<00:23:19.840> portfolio<00:23:20.560> before<00:23:21.680> devoting<00:23:22.160> money<00:23:22.440> to<00:23:22.920> to<00:23:23.120> new<00:23:23.960> um<00:23:24.280> opportunities.

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But,<00:23:25.920> you<00:23:25.960> know,<00:23:26.080> I<00:23:26.160> think<00:23:27.000> you<00:23:27.040> know,<00:23:27.240> what<00:23:27.440> I<00:23:27.720> I<00:23:27.840> try<00:23:28.120> to<00:23:28.280> do<00:23:28.480> is<00:23:28.720> to<00:23:30.680> weed<00:23:31.080> out<00:23:31.280> the<00:23:31.400> noise.

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And<00:23:32.400> I<00:23:32.480> think,<00:23:32.800> you<00:23:32.880> know,<00:23:33.400> uh<00:23:33.440> the<00:23:33.800> the<00:23:33.920> thoughtful,<00:23:34.680> you<00:23:34.760> know,<00:23:34.880> investors<00:23:35.600> probably<00:23:35.960> have<00:23:36.200> or<00:23:36.640> anybody<00:23:37.080> in<00:23:37.200> any<00:23:37.360> business<00:23:38.480> is<00:23:38.680> able<00:23:38.920> to<00:23:39.040> do<00:23:39.200> that.

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So,<00:23:39.640> I<00:23:39.680> know<00:23:39.880> it's<00:23:40.040> going<00:23:40.160> to<00:23:40.240> be<00:23:40.360> volatile,<00:23:40.880> there's<00:23:41.080> going<00:23:41.200> to<00:23:41.280> be<00:23:41.400> new<00:23:41.560> surprise<00:23:42.120> today.

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I<00:23:43.240> know<00:23:43.640> it's<00:23:43.880> coming.<00:23:45.240> So,<00:23:45.320> I'm<00:23:45.440> just<00:23:45.600> going<00:23:45.720> to<00:23:45.800> sort<00:23:45.960> of<00:23:46.160> ignore<00:23:46.560> it.

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Right?<00:23:48.000> Um<00:23:48.880> because<00:23:49.160> it's<00:23:49.440> a<00:23:49.520> lot<00:23:49.720> of<00:23:49.800> it<00:23:49.880> is<00:23:50.000> just<00:23:50.400> short-term.

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I'm<00:23:51.920> really<00:23:52.120> looking<00:23:52.480> at<00:23:52.760> we're<00:23:53.000> building<00:23:53.400> businesses,<00:23:54.120> investing<00:23:54.600> into<00:23:54.840> businesses<00:23:55.480> that<00:23:55.680> are,<00:23:56.680> you<00:23:56.760> know,<00:23:57.480> billions<00:23:58.160> of<00:23:58.400> billio-<00:23:58.800> you<00:23:58.880> know,<00:23:59.000> multi-billion<00:23:59.880> dollar

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our<00:24:00.160> companies<00:24:01.440> over<00:24:01.600> the<00:24:01.680> next<00:24:01.960> 5<00:24:02.240> years.

00:24:03.440 --> 00:24:11.360
Um<00:24:04.080> so,<00:24:04.400> really<00:24:04.720> high<00:24:04.960> focus<00:24:05.400> on<00:24:05.560> what<00:24:05.720> are<00:24:05.840> the<00:24:05.960> management<00:24:06.480> teams,<00:24:06.920> what<00:24:07.080> are<00:24:07.200> the<00:24:07.320> in-<00:24:07.560> industries,<00:24:08.480> again,<00:24:08.960> being<00:24:09.160> the<00:24:09.240> energy,<00:24:10.360> you<00:24:10.400> know,<00:24:10.480> anything<00:24:10.840> that's<00:24:11.040> feeding

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AI,<00:24:11.760> that's<00:24:11.960> a<00:24:12.040> real<00:24:12.320> business,<00:24:12.840> you<00:24:12.920> know,<00:24:13.040> whether<00:24:13.240> it's<00:24:13.360> services<00:24:13.840> or<00:24:13.960> infrastructure<00:24:14.640> or<00:24:14.760> utility-style<00:24:15.520> business.

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But,<00:24:16.440> again,<00:24:16.760> real<00:24:17.080> businesses,<00:24:17.680> not<00:24:18.040> ideas,<00:24:19.040> real<00:24:19.280> business<00:24:19.640> that<00:24:19.760> has<00:24:19.920> backbone.

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And<00:24:21.360> then<00:24:21.520> on<00:24:21.760> on<00:24:21.880> the<00:24:22.160> you<00:24:22.240> know,<00:24:22.360> public<00:24:22.720> side,<00:24:23.000> what<00:24:23.120> are<00:24:23.240> some<00:24:23.440> of<00:24:23.520> the<00:24:23.600> interesting<00:24:24.400> industries,<00:24:25.400> again,<00:24:25.640> like<00:24:25.960> crypto,<00:24:26.320> for<00:24:26.440> example,<00:24:26.800> is<00:24:26.920> one<00:24:27.080> of<00:24:27.160> them<00:24:28.040> where

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um<00:24:29.200> you<00:24:29.320> just<00:24:29.560> see<00:24:29.680> long-term<00:24:30.280> trend,<00:24:30.760> right?

00:24:31.320 --> 00:24:39.400
Uh<00:24:31.440> from<00:24:31.600> an<00:24:31.680> industry<00:24:32.160> perspective,<00:24:32.720> just<00:24:33.000> like<00:24:33.200> what<00:24:33.360> we<00:24:33.480> saw<00:24:33.880> in<00:24:34.880> US<00:24:35.440> shale<00:24:36.000> oil<00:24:36.240> and<00:24:36.360> gas<00:24:36.720> boom,<00:24:37.680> we're<00:24:37.800> seeing<00:24:38.120> it<00:24:38.240> in<00:24:38.320> some<00:24:38.480> of<00:24:38.560> the<00:24:38.680> other<00:24:38.840> industries.

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So,<00:24:40.360> you<00:24:40.400> know,<00:24:40.520> position<00:24:41.080> on<00:24:41.400> where<00:24:41.640> do<00:24:41.800> we<00:24:41.960> think<00:24:42.160> the<00:24:42.280> world<00:24:42.480> is<00:24:42.600> going<00:24:42.720> to,<00:24:43.080> you<00:24:43.160> know,<00:24:43.400> be<00:24:43.680> in<00:24:43.840> 3<00:24:44.000> to<00:24:44.160> 5<00:24:44.480> years,<00:24:44.760> and<00:24:44.880> what<00:24:45.000> are<00:24:45.080> the<00:24:45.160> companies<00:24:45.600> that<00:24:45.680> we're<00:24:45.880> feeding?

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Now,<00:24:47.240> I<00:24:47.360> would<00:24:47.600> say<00:24:47.800> that<00:24:48.000> one<00:24:48.160> thing<00:24:48.440> that<00:24:48.680> one<00:24:48.840> has<00:24:49.000> to<00:24:49.080> be<00:24:49.200> super<00:24:49.680> careful<00:24:50.160> about,<00:24:50.560> and<00:24:50.680> I'm,<00:24:51.000> you<00:24:51.080> know,<00:24:51.160> I<00:24:51.240> have<00:24:51.440> CNBC<00:24:52.000> here<00:24:52.160> behind<00:24:52.480> me,<00:24:52.600> and<00:24:53.480> just<00:24:53.640> hearing<00:24:53.960> some

00:24:54.160 --> 00:24:58.880
talks<00:24:54.480> about<00:24:54.720> that<00:24:54.880> even<00:24:55.040> today,<00:24:56.280> you<00:24:56.400> have<00:24:56.600> to<00:24:56.680> be<00:24:56.880> well<00:24:57.120> capitalized.

00:24:58.880 --> 00:25:07.360
So<00:24:59.000> have<00:24:59.280> enough<00:24:59.560> capital<00:25:00.200> be<00:25:00.480> over<00:25:00.840> capitalized<00:25:02.120> to<00:25:02.240> be<00:25:02.400> able<00:25:02.640> to<00:25:02.760> sustain<00:25:03.400> some,<00:25:04.280> you<00:25:04.360> know,<00:25:05.760> downturns<00:25:07.120> over

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the,<00:25:07.720> you<00:25:07.800> know,<00:25:07.960> short<00:25:08.320> term.<00:25:08.560> So<00:25:08.720> that<00:25:08.880> is<00:25:09.040> critical.

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Again,<00:25:10.240> we<00:25:10.360> learned<00:25:10.640> it<00:25:10.760> in<00:25:10.880> oil<00:25:11.000> and<00:25:11.080> gas.<00:25:11.440> So<00:25:11.600> this<00:25:11.800> is<00:25:11.880> nothing<00:25:12.280> new<00:25:12.480> for<00:25:12.680> us<00:25:13.520> in<00:25:13.680> energy,<00:25:14.120> but<00:25:14.400> now<00:25:14.640> I<00:25:14.720> think<00:25:14.920> it's<00:25:15.080> sort<00:25:15.240> of<00:25:15.520> expands<00:25:16.160> to<00:25:16.360> the,<00:25:16.960> you<00:25:17.040> know,<00:25:17.360> broader

00:25:17.960 --> 00:25:21.200
world<00:25:18.320> here.<00:25:19.760> What<00:25:19.880> is<00:25:20.000> the<00:25:20.080> state<00:25:20.320> of<00:25:20.440> public<00:25:20.720> markets?

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And<00:25:21.360> give<00:25:21.480> me<00:25:21.600> a<00:25:21.640> sense<00:25:22.000> for<00:25:22.320> you<00:25:22.440> said<00:25:22.600> you're<00:25:22.760> working<00:25:23.000> on<00:25:23.080> your<00:25:23.200> third<00:25:23.560> SPAC.

00:25:24.000 --> 00:25:29.840
What's<00:25:24.240> the<00:25:24.320> state<00:25:24.600> of<00:25:24.720> the<00:25:25.120> SPACs?<00:25:25.960> And<00:25:26.160> I<00:25:26.240> know<00:25:26.400> that<00:25:26.520> they<00:25:26.720> were<00:25:26.920> really<00:25:27.320> popular<00:25:28.640> maybe<00:25:28.840> like<00:25:29.000> four<00:25:29.160> or<00:25:29.240> five<00:25:29.440> years<00:25:29.640> ago.

00:25:29.840 --> 00:25:32.440
They<00:25:29.960> kind<00:25:30.120> of<00:25:30.240> went<00:25:30.400> out<00:25:30.560> of<00:25:30.640> vogue<00:25:30.880> and<00:25:30.960> it<00:25:31.040> does<00:25:31.200> seem<00:25:31.320> like<00:25:31.440> they're<00:25:31.600> kind<00:25:31.760> of<00:25:31.840> coming<00:25:32.160> back.

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So<00:25:32.560> give<00:25:32.720> me<00:25:32.840> a<00:25:32.920> sense<00:25:33.200> for<00:25:33.320> how<00:25:33.440> you're<00:25:33.600> thinking<00:25:33.880> about<00:25:34.080> SPACs<00:25:34.600> and<00:25:35.200> maybe<00:25:35.400> just<00:25:35.640> the<00:25:35.760> public<00:25:36.080> markets<00:25:36.440> overall.

00:25:39.000 --> 00:25:45.120
So<00:25:39.160> from<00:25:39.320> a<00:25:39.360> public<00:25:39.680> market<00:25:39.960> perspective,<00:25:40.520> you<00:25:40.600> know,<00:25:40.800> we<00:25:41.000> are<00:25:41.200> seeing<00:25:41.600> that<00:25:41.760> the<00:25:41.880> IPO<00:25:42.240> market<00:25:42.640> starting<00:25:43.000> to<00:25:43.120> be,<00:25:43.480> you<00:25:43.600> know,<00:25:43.920> healthier<00:25:44.520> and<00:25:44.720> open.

00:25:45.120 --> 00:25:52.880
So<00:25:45.280> I<00:25:45.360> would<00:25:45.560> say,<00:25:45.920> you<00:25:46.000> know,<00:25:46.440> to<00:25:46.720> and<00:25:46.840> I<00:25:47.080> we<00:25:47.240> say<00:25:47.400> this<00:25:47.560> quite<00:25:47.760> a<00:25:47.840> bit,<00:25:48.240> you<00:25:48.320> know,<00:25:48.440> when<00:25:48.560> you<00:25:48.640> look<00:25:48.760> at<00:25:48.880> it<00:25:48.960> from<00:25:49.160> a<00:25:49.720> private<00:25:50.000> equity<00:25:50.400> or<00:25:50.520> infrastructure<00:25:51.160> fund<00:25:51.400> perspective,

00:25:52.880 --> 00:26:01.520
you<00:25:53.480> know,<00:25:53.600> we<00:25:53.720> went<00:25:54.000> from<00:25:54.720> kind<00:25:54.920> of<00:25:55.080> the<00:25:55.200> status<00:25:55.680> quo,<00:25:55.960> the<00:25:56.120> MBA<00:25:56.760> playbook<00:25:57.440> where<00:25:57.600> you<00:25:57.720> say,<00:25:57.920> "Okay,<00:25:58.200> if<00:25:58.280> I<00:25:58.320> have<00:25:58.440> a<00:25:58.520> private<00:25:58.880> equity<00:26:00.720> owned<00:26:01.000> company,

00:26:01.520 --> 00:26:09.400
what<00:26:01.720> are<00:26:01.840> my<00:26:02.040> exit<00:26:02.400> options,<00:26:02.880> right?"<00:26:03.080> Number<00:26:03.360> one<00:26:03.600> is<00:26:03.960> sell<00:26:04.280> to<00:26:04.400> a<00:26:04.440> strategic<00:26:05.160> or<00:26:05.320> another<00:26:05.600> private<00:26:05.880> equity,<00:26:06.280> cash,<00:26:07.600> you<00:26:07.640> know,<00:26:07.840> cash<00:26:08.240> exit.

00:26:09.400 --> 00:26:12.120
The<00:26:09.560> other<00:26:09.800> traditionally<00:26:10.320> has<00:26:10.440> been<00:26:10.600> IPO,<00:26:11.840> right?

00:26:12.120 --> 00:26:20.840
And<00:26:12.240> that<00:26:12.520> I<00:26:12.600> feel<00:26:12.920> like<00:26:13.080> in<00:26:13.160> the<00:26:13.240> recent<00:26:13.640> years<00:26:14.120> IPO<00:26:14.560> has<00:26:14.720> been<00:26:14.920> put<00:26:15.120> on<00:26:15.280> a,<00:26:16.080> you<00:26:16.120> know,<00:26:16.520> sort<00:26:16.720> of<00:26:16.920> third<00:26:17.440> piece<00:26:17.880> of<00:26:18.000> the<00:26:18.120> stool<00:26:19.000> and<00:26:19.120> the<00:26:19.200> second<00:26:19.600> has<00:26:19.760> become<00:26:20.120> secondaries

00:26:20.840 --> 00:26:29.520
and<00:26:21.000> continuation<00:26:21.680> vehicles.<00:26:22.920> And<00:26:23.320> which<00:26:23.480> is<00:26:23.640> fine,<00:26:24.200> but<00:26:24.760> the<00:26:24.880> secondary<00:26:25.480> should<00:26:25.640> be<00:26:25.760> only<00:26:26.080> a<00:26:26.960> considered<00:26:27.680> if<00:26:27.960> IPO<00:26:28.320> market<00:26:28.640> is<00:26:28.760> not<00:26:29.000> open.

00:26:29.520 --> 00:26:32.160
It<00:26:29.680> has<00:26:29.920> been<00:26:30.080> open<00:26:31.040> for<00:26:31.160> high<00:26:31.320> quality<00:26:31.640> companies.

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So,<00:26:32.920> you<00:26:33.000> know,<00:26:33.200> we<00:26:33.640> we<00:26:33.800> do<00:26:33.920> like<00:26:34.120> where<00:26:34.280> we<00:26:34.440> are.

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It's<00:26:34.720> not<00:26:34.920> over<00:26:35.160> saturated.<00:26:35.920> It's<00:26:36.240> at<00:26:36.360> a,<00:26:36.560> you<00:26:36.640> know,<00:26:36.760> well<00:26:37.000> balanced<00:26:37.440> level<00:26:38.520> across<00:26:38.800> variety<00:26:39.240> of<00:26:39.360> industries.

00:26:40.840 --> 00:26:50.520
So<00:26:41.800> we<00:26:41.960> like<00:26:42.200> that.<00:26:43.320> And<00:26:43.480> then<00:26:43.680> the<00:26:43.800> second<00:26:44.160> piece<00:26:44.440> what<00:26:44.560> I<00:26:44.640> would<00:26:44.840> say<00:26:45.200> is<00:26:46.320> SPACs,<00:26:47.920> I<00:26:48.120> compare<00:26:48.680> SPACs<00:26:50.080> to

00:26:50.520 --> 00:27:00.160
leverage.<00:26:52.200> If<00:26:52.320> you<00:26:52.440> put<00:26:52.640> a<00:26:52.680> leverage<00:26:53.960> on<00:26:54.480> your<00:26:54.920> son's<00:26:55.440> second<00:26:55.840> grade,<00:26:56.920> uh,<00:26:57.080> you<00:26:57.200> know,<00:26:57.400> business,<00:26:58.240> uh,<00:26:58.440> project,<00:26:59.920> uh,

00:27:00.160 --> 00:27:05.360
it's<00:27:00.280> not<00:27:00.440> going<00:27:00.560> to<00:27:00.640> work.<00:27:00.880> You<00:27:00.920> know,<00:27:01.040> if<00:27:01.120> you<00:27:01.200> put<00:27:01.360> it<00:27:01.440> on<00:27:01.600> early<00:27:01.800> stage<00:27:02.040> tech<00:27:02.200> company,<00:27:02.840> it's<00:27:03.000> not<00:27:03.560> going<00:27:03.920> to<00:27:04.080> work,<00:27:04.640> right?

00:27:05.360 --> 00:27:13.560
The<00:27:05.480> same<00:27:05.800> thing<00:27:06.400> is<00:27:06.600> with<00:27:06.760> a<00:27:06.840> SPAC.<00:27:07.880> If<00:27:08.080> you<00:27:08.200> layer<00:27:08.480> it<00:27:08.600> on<00:27:08.720> a<00:27:08.800> company<00:27:09.440> any<00:27:09.720> into<00:27:10.040> an<00:27:10.160> industry<00:27:11.560> where<00:27:11.920> that<00:27:12.240> company<00:27:12.800> should<00:27:13.080> not<00:27:13.360> be

00:27:13.560 --> 00:27:21.840
public<00:27:14.080> in<00:27:14.240> the<00:27:14.360> first<00:27:14.760> place,<00:27:15.600> it<00:27:15.720> just<00:27:15.920> happens<00:27:16.280> to<00:27:16.400> be<00:27:16.520> sort<00:27:16.720> of<00:27:16.840> some<00:27:17.600> solution<00:27:18.160> of<00:27:18.280> last<00:27:18.560> resort<00:27:18.960> because<00:27:19.240> they<00:27:19.360> couldn't<00:27:19.600> raise<00:27:19.760> money<00:27:19.960> anywhere<00:27:20.320> else,<00:27:21.040> it's<00:27:21.440> not

00:27:21.840 --> 00:27:30.120
going<00:27:22.120> to<00:27:22.280> work.<00:27:23.280> And<00:27:23.520> so,<00:27:24.240> I,<00:27:24.480> you<00:27:24.600> know,<00:27:24.720> when<00:27:24.840> we<00:27:24.960> talk<00:27:25.240> to<00:27:25.320> businesses,<00:27:26.800> 97%<00:27:28.480> of<00:27:28.600> businesses<00:27:29.120> claimed<00:27:29.480> that<00:27:29.640> we<00:27:29.800> talked<00:27:30.040> to,

00:27:30.120 --> 00:27:35.760
we<00:27:30.240> talked<00:27:30.400> to<00:27:30.480> hundreds<00:27:30.760> of<00:27:30.840> companies<00:27:31.320> on<00:27:31.400> the<00:27:31.480> SPAC<00:27:31.800> side,<00:27:32.720> I<00:27:32.880> say,<00:27:33.640> "Do<00:27:34.120> not<00:27:34.520> do<00:27:34.680> it."

00:27:35.760 --> 00:27:40.120
Some<00:27:35.960> other<00:27:36.160> guy<00:27:36.360> next<00:27:36.640> to<00:27:36.760> me<00:27:36.960> who<00:27:37.120> has<00:27:37.280> a<00:27:37.360> SPAC<00:27:37.840> is<00:27:37.920> going<00:27:38.080> to<00:27:38.160> tell<00:27:38.360> you<00:27:38.480> you<00:27:38.840> can<00:27:39.000> be<00:27:39.160> public.

00:27:40.120 --> 00:27:48.840
We've<00:27:40.360> built<00:27:40.600> businesses,<00:27:41.560> we've<00:27:41.800> taken<00:27:42.200> businesses<00:27:42.760> public<00:27:43.120> via<00:27:43.440> IPO,<00:27:44.880> and<00:27:45.160> via<00:27:45.440> SPACs,<00:27:46.480> we've<00:27:46.800> run<00:27:47.040> public<00:27:47.400> businesses.

00:27:48.840 --> 00:27:55.880
This<00:27:49.080> is<00:27:49.200> not<00:27:49.360> a<00:27:49.400> joke.<00:27:50.120> You're<00:27:50.280> dealing<00:27:50.560> with<00:27:50.720> regulators,<00:27:51.720> you're<00:27:51.840> dealing<00:27:52.040> with<00:27:52.160> public<00:27:52.440> investors,<00:27:53.360> with<00:27:53.480> international<00:27:54.160> markets,<00:27:55.040> and<00:27:55.160> you're<00:27:55.360> very<00:27:55.600> much<00:27:55.800> in

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the<00:27:55.960> public<00:27:56.280> view.<00:27:57.120> So,<00:27:57.240> if<00:27:57.440> you<00:27:57.640> wanted<00:27:57.960> the<00:27:58.040> business<00:27:58.440> that<00:27:58.600> you've<00:27:58.760> been<00:27:58.960> creating<00:27:59.760> for<00:27:59.920> a<00:27:59.960> decade,<00:28:01.000> if<00:28:01.120> you<00:28:01.280> want<00:28:01.440> that<00:28:01.640> business,<00:28:02.040> you<00:28:02.160> know,<00:28:02.280> and<00:28:02.600> and<00:28:03.400> collecting

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below<00:28:04.160> market<00:28:04.520> salary,<00:28:04.840> right?<00:28:05.040> A<00:28:05.080> lot<00:28:05.200> of<00:28:05.280> the<00:28:05.360> entrepreneurs,<00:28:06.120> you're<00:28:06.240> really<00:28:06.440> it's<00:28:06.680> it's,<00:28:06.920> you<00:28:07.000> know,<00:28:07.480> um,<00:28:08.440> uh,<00:28:08.680> you<00:28:09.360> you<00:28:09.520> really<00:28:09.800> are,<00:28:10.080> you<00:28:10.200> know,<00:28:10.720> kind<00:28:10.880> of<00:28:11.040> starvation

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mode<00:28:12.200> for<00:28:12.400> a<00:28:12.440> lot<00:28:12.840> of<00:28:13.240> for<00:28:13.360> a<00:28:13.400> long<00:28:13.720> time<00:28:13.960> and<00:28:14.040> a<00:28:14.080> lot<00:28:14.200> of<00:28:14.320> uncertainty.

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Taken<00:28:18.800> out<00:28:18.920> a<00:28:18.960> round<00:28:19.200> of<00:28:19.320> private<00:28:19.640> funding,<00:28:20.240> taken<00:28:20.480> out<00:28:20.600> of<00:28:20.720> three<00:28:21.000> rounds<00:28:21.400> of<00:28:21.520> public<00:28:21.960> funding<00:28:22.360> in<00:28:22.440> some<00:28:22.960> private<00:28:23.240> funding<00:28:24.120> in<00:28:24.280> some<00:28:24.480> cases,<00:28:24.880> but<00:28:25.120> I<00:28:25.320> it's<00:28:25.480> not<00:28:25.680> going

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to<00:28:25.840> be<00:28:25.920> on<00:28:26.040> my<00:28:26.200> watch<00:28:27.280> that<00:28:27.400> you're<00:28:27.520> going<00:28:27.640> to<00:28:27.720> destroy<00:28:28.040> my,<00:28:28.480> you<00:28:28.560> know,<00:28:28.680> your<00:28:28.840> business<00:28:29.200> that<00:28:29.360> you<00:28:29.480> built.

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And<00:28:30.640> so,<00:28:30.880> I<00:28:31.040> feel<00:28:31.360> that<00:28:31.720> I<00:28:31.840> I<00:28:31.920> feel<00:28:32.120> very<00:28:32.320> strongly<00:28:32.760> that<00:28:33.040> SPACs<00:28:33.560> are<00:28:35.160> a<00:28:35.360> very<00:28:35.920> high-quality<00:28:36.680> product<00:28:37.800> and<00:28:37.960> can<00:28:38.240> really<00:28:38.560> supercharge

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your<00:28:39.440> business<00:28:39.920> to<00:28:40.040> the<00:28:40.120> next<00:28:40.440> level<00:28:41.400> if<00:28:41.640> you<00:28:41.880> use<00:28:42.200> it<00:28:42.520> in<00:28:42.680> the<00:28:42.840> right<00:28:43.400> way.

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So,<00:28:44.080> SPACs<00:28:44.520> have<00:28:44.640> been<00:28:44.800> around<00:28:45.120> for<00:28:45.280> decades.

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Mhm.<00:28:46.720> There<00:28:46.840> are<00:28:46.920> many<00:28:47.200> high-quality<00:28:47.880> businesses<00:28:48.480> that<00:28:48.600> have<00:28:48.720> been<00:28:48.840> taken<00:28:49.200> public<00:28:49.520> by<00:28:49.680> a<00:28:49.760> SPAC<00:28:50.200> that<00:28:50.960> you<00:28:51.040> don't<00:28:51.280> even,<00:28:51.440> you<00:28:51.560> know,<00:28:51.760> you<00:28:51.880> don't<00:28:52.080> even<00:28:52.240> realize.

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The<00:28:53.440> problem<00:28:54.080> was<00:28:54.640> in<00:28:54.760> the<00:28:54.920> 2021<00:28:55.720> to<00:28:55.840> 2022<00:28:56.360> vintage,<00:28:57.720> you<00:28:57.800> had<00:28:57.960> 1,000<00:28:58.400> SPACs<00:28:58.760> outstanding.

00:28:59.960 --> 00:29:07.840
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00:29:11.680 --> 00:29:21.040
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00:29:29.520 --> 00:29:38.600
responsible<00:29:30.120> in<00:29:30.200> the<00:29:30.280> sense<00:29:30.600> of<00:29:30.760> take<00:29:31.080> telling<00:29:31.400> companies,<00:29:32.320> do<00:29:32.560> not<00:29:32.880> do<00:29:33.040> it,<00:29:33.760> and<00:29:33.920> only<00:29:34.200> taking<00:29:34.560> the<00:29:34.680> companies<00:29:35.240> that<00:29:36.240> should<00:29:36.600> be<00:29:36.720> public<00:29:37.080> in<00:29:37.160> the<00:29:37.240> first<00:29:37.560> place,

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and<00:29:38.680> that<00:29:38.800> are<00:29:38.880> also<00:29:39.200> in<00:29:39.280> the<00:29:39.400> industries<00:29:40.520> where<00:29:40.640> investors<00:29:41.160> have<00:29:41.440> appetite,<00:29:42.280> you<00:29:42.360> know,<00:29:42.520> to<00:29:42.680> invest<00:29:43.040> in<00:29:43.160> those<00:29:43.320> industries.

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If<00:29:44.000> those<00:29:44.280> two<00:29:44.440> don't<00:29:45.160> don't<00:29:45.760> uh<00:29:45.840> collide,<00:29:47.200> you<00:29:47.280> will<00:29:47.400> not<00:29:47.600> have<00:29:47.720> a<00:29:47.760> successful<00:29:48.240> SPAC.

00:29:49.720 --> 00:29:57.280
Mhm.<00:29:51.040> Finally,<00:29:51.400> we<00:29:51.600> end<00:29:51.760> every<00:29:51.960> interview<00:29:52.200> with<00:29:52.280> the<00:29:52.400> same<00:29:52.600> question,<00:29:53.160> and<00:29:53.280> that<00:29:53.480> is<00:29:53.640> at<00:29:53.800> ceo.com,<00:29:54.600> we<00:29:54.720> believe<00:29:55.000> the<00:29:55.080> chances<00:29:55.560> one<00:29:55.800> gives<00:29:56.440> is<00:29:56.640> just<00:29:56.840> as<00:29:56.920> important

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as<00:29:57.400> the<00:29:57.520> chances<00:29:57.920> one<00:29:58.120> takes.<00:29:59.120> When<00:29:59.280> you<00:29:59.440> hear<00:29:59.640> that,<00:29:59.840> who<00:30:00.000> gave<00:30:00.200> you<00:30:00.320> a<00:30:00.360> chance<00:30:00.680> to<00:30:00.760> get<00:30:00.920> you<00:30:01.040> to<00:30:01.120> where<00:30:01.320> you<00:30:01.480> are<00:30:01.600> today?

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Um<00:30:05.394> [sighs<00:30:05.869> and<00:30:06.343> gasps]<00:30:06.817> I<00:30:07.291> had<00:30:07.766> several<00:30:08.240> people.

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Um<00:30:09.400> you<00:30:09.480> know,<00:30:09.840> one<00:30:10.120> of<00:30:10.280> them<00:30:11.480> uh<00:30:11.600> actually<00:30:11.960> just<00:30:12.200> recently<00:30:12.600> passed<00:30:12.920> away<00:30:13.320> last<00:30:13.760> week<00:30:14.000> in<00:30:14.120> a<00:30:14.480> in<00:30:14.640> an<00:30:14.760> accident.

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Uh<00:30:16.520> but<00:30:16.680> he<00:30:16.760> was<00:30:16.920> a<00:30:16.960> headmaster<00:30:17.600> of<00:30:17.840> a<00:30:18.000> boarding<00:30:18.360> school<00:30:18.640> I<00:30:18.720> was<00:30:18.960> at<00:30:19.240> in<00:30:19.360> Switzerland.

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And<00:30:21.280> you<00:30:21.320> know,<00:30:21.600> I<00:30:21.720> was<00:30:22.000> coming<00:30:22.320> from<00:30:22.520> again<00:30:22.800> a<00:30:22.840> small<00:30:23.160> village<00:30:23.480> in<00:30:23.600> Czechoslovakia,<00:30:24.520> and<00:30:24.720> I<00:30:24.800> was<00:30:25.120> I<00:30:25.200> was<00:30:25.400> writing<00:30:25.840> a<00:30:26.200> you<00:30:26.240> know,<00:30:26.480> letters<00:30:27.240> uh<00:30:27.480> to<00:30:27.640> him<00:30:27.880> for<00:30:28.080> the<00:30:28.160> whole

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year,<00:30:28.880> Clint,<00:30:30.000> where<00:30:30.520> um<00:30:30.880> I<00:30:30.960> was<00:30:31.120> just,<00:30:31.440> you<00:30:31.480> know,<00:30:31.600> the<00:30:31.680> school<00:30:31.920> was<00:30:32.040> one<00:30:32.160> of<00:30:32.200> the<00:30:32.280> most<00:30:32.440> expensive<00:30:32.840> schools<00:30:33.080> in<00:30:33.160> the<00:30:33.240> world.

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Uh<00:30:34.320> but<00:30:34.480> I<00:30:34.520> was<00:30:34.720> completely<00:30:35.160> aloof<00:30:35.520> to<00:30:35.640> that.<00:30:36.200> Um<00:30:36.640> and<00:30:36.800> so<00:30:36.960> every<00:30:37.360> week<00:30:37.640> I<00:30:37.720> would<00:30:37.880> send<00:30:38.040> him<00:30:38.200> a<00:30:38.240> letter.

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I<00:30:39.200> would<00:30:39.360> give<00:30:39.480> him<00:30:39.600> the<00:30:39.720> reasons<00:30:40.160> why<00:30:40.280> he<00:30:40.440> should<00:30:40.600> have<00:30:40.720> admit<00:30:40.960> me<00:30:41.240> admit<00:30:41.720> me<00:30:41.880> to<00:30:42.040> the<00:30:42.200> school.

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And<00:30:43.200> then<00:30:43.360> finally,<00:30:43.840> I<00:30:43.920> called<00:30:44.240> him<00:30:44.480> 4<00:30:44.680> days<00:30:45.000> before<00:30:45.320> the<00:30:45.400> school<00:30:45.720> year<00:30:45.840> started.

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His<00:30:47.080> name<00:30:47.200> is<00:30:47.320> Richard<00:30:47.560> McDonald,<00:30:48.200> and<00:30:48.360> I<00:30:48.480> said,<00:30:48.960> "Mr.

00:30:49.240 --> 00:30:52.160
McDonald,<00:30:50.400> you<00:30:50.440> have<00:30:50.680> two<00:30:50.920> choices.

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One<00:30:52.680> is<00:30:52.880> I'm<00:30:53.080> coming<00:30:53.400> to<00:30:53.520> the<00:30:53.640> school.<00:30:54.160> I<00:30:54.240> will<00:30:54.400> be<00:30:54.520> sleeping<00:30:55.960> inside<00:30:56.400> of<00:30:56.480> the<00:30:56.560> dorms.

00:30:57.720 --> 00:31:02.840
The<00:30:57.880> other<00:30:58.360> is<00:30:58.720> I'm<00:30:58.880> coming<00:30:59.200> to<00:30:59.320> the<00:30:59.440> school<00:30:59.880> and<00:31:00.000> I'm<00:31:00.200> sleeping<00:31:00.880> outside<00:31:01.360> of<00:31:01.480> the<00:31:01.560> dorms.

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But<00:31:03.280> I<00:31:03.440> am<00:31:03.640> coming<00:31:04.000> no<00:31:04.120> matter<00:31:04.400> what."

00:31:04.960 --> 00:31:12.080
And<00:31:05.080> he<00:31:05.240> actually<00:31:05.600> went<00:31:05.840> against<00:31:06.120> the<00:31:06.160> board<00:31:06.400> of<00:31:06.480> governors<00:31:06.960> of<00:31:07.080> the<00:31:07.160> school<00:31:07.440> at<00:31:07.480> that<00:31:07.680> time,<00:31:08.800> and<00:31:08.880> he<00:31:09.000> called<00:31:09.200> me<00:31:09.320> back<00:31:09.720> just<00:31:09.960> before<00:31:10.240> I<00:31:10.280> was<00:31:10.440> about<00:31:10.680> to<00:31:10.760> get<00:31:10.880> on<00:31:10.960> the<00:31:11.000> bus

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00:31:18.560 --> 00:31:26.920
This<00:31:19.000> you<00:31:19.080> know,<00:31:19.120> it<00:31:19.200> was<00:31:19.320> this<00:31:19.520> incredible<00:31:19.920> opportunity,<00:31:20.520> but<00:31:21.120> you<00:31:21.200> know,<00:31:21.320> he<00:31:21.480> went<00:31:21.720> against<00:31:22.440> uh<00:31:22.920> you<00:31:23.080> know,<00:31:23.480> the<00:31:23.800> sort<00:31:23.960> of<00:31:24.720> governance<00:31:25.440> body<00:31:26.080> of<00:31:26.400> the<00:31:26.520> school<00:31:26.840> at

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that<00:31:27.120> time.<00:31:27.400> And<00:31:27.480> now<00:31:27.760> actually<00:31:28.120> I'm<00:31:28.280> on<00:31:28.800> you<00:31:28.880> know,<00:31:28.960> very<00:31:29.160> involved<00:31:29.480> with<00:31:29.560> the<00:31:29.640> school<00:31:30.000> and<00:31:30.200> and<00:31:30.520> with<00:31:30.800> governance<00:31:31.200> of<00:31:31.320> that<00:31:31.520> school<00:31:31.720> myself,<00:31:32.240> and<00:31:32.960> you<00:31:33.000> know,<00:31:33.280> um<00:31:33.920> giving

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back<00:31:34.560> in<00:31:34.760> in<00:31:35.080> my<00:31:35.280> way<00:31:35.480> because<00:31:35.840> that<00:31:36.320> um<00:31:37.240> but<00:31:37.360> he<00:31:37.520> you<00:31:37.720> know,<00:31:37.880> he<00:31:38.440> that<00:31:38.560> was<00:31:38.720> probably<00:31:39.040> the<00:31:39.120> one<00:31:39.360> moment<00:31:39.720> that<00:31:40.400> uh<00:31:40.520> was<00:31:40.800> you<00:31:40.880> know,<00:31:41.040> transformational.

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Um<00:31:43.160> but<00:31:43.280> there<00:31:43.400> were<00:31:43.520> so<00:31:43.600> you<00:31:43.720> know,<00:31:43.840> I<00:31:43.960> don't<00:31:44.120> want<00:31:44.240> to<00:31:44.320> miss<00:31:44.480> any<00:31:44.640> people.

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There<00:31:45.000> were<00:31:45.120> so<00:31:45.320> many<00:31:45.520> people<00:31:45.840> who<00:31:45.920> just<00:31:46.160> gave<00:31:46.400> me<00:31:46.520> an<00:31:46.600> opportunity,<00:31:47.240> and<00:31:47.360> I<00:31:47.440> would<00:31:47.600> say<00:31:47.760> one<00:31:47.960> thing,<00:31:49.320> you<00:31:49.360> know,<00:31:49.480> lesson<00:31:49.880> learned<00:31:50.320> is<00:31:51.560> sometimes<00:31:52.040> you<00:31:52.120> have<00:31:52.280> to<00:31:52.560> I<00:31:52.600> don't

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want<00:31:52.840> to<00:31:52.920> say<00:31:53.200> bully<00:31:53.560> because<00:31:53.840> that's<00:31:54.000> not<00:31:54.120> the<00:31:54.200> right<00:31:54.440> word,<00:31:54.680> but<00:31:54.840> you<00:31:54.920> have<00:31:55.040> to<00:31:55.160> like<00:31:55.400> you<00:31:55.480> have<00:31:55.600> to<00:31:55.760> tell<00:31:56.000> people<00:31:56.280> exactly<00:31:56.720> what<00:31:56.880> you<00:31:56.960> want.

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Right?<00:31:58.600> Because<00:31:58.960> nobody<00:31:59.320> is<00:31:59.440> sitting<00:31:59.760> there<00:32:00.080> and<00:32:00.200> saying,<00:32:00.480> "Oh,<00:32:00.640> I<00:32:00.760> want<00:32:01.040> you<00:32:01.120> know,<00:32:01.400> I'm<00:32:01.720> sure<00:32:02.000> Clint<00:32:02.280> will<00:32:02.440> want<00:32:02.640> a<00:32:02.720> promotion,<00:32:03.440> or<00:32:03.560> he<00:32:03.720> will<00:32:03.880> want<00:32:04.080> to<00:32:04.160> have<00:32:04.720> you<00:32:04.800> know,

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investment<00:32:05.600> into<00:32:05.800> this<00:32:06.000> and<00:32:06.080> that."<00:32:06.600> Nobody<00:32:07.040> is<00:32:07.160> thinking<00:32:07.480> of<00:32:07.600> you,<00:32:07.680> and<00:32:07.800> I<00:32:07.840> say<00:32:08.000> this<00:32:08.160> to<00:32:08.240> my<00:32:08.400> kids.

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I<00:32:09.520> don't<00:32:09.760> think<00:32:09.960> about<00:32:10.320> you<00:32:10.520> the<00:32:10.800> you<00:32:10.880> know,<00:32:11.080> the<00:32:11.240> way<00:32:11.400> that<00:32:11.640> you<00:32:11.760> do.

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Nobody.<00:32:12.520> Not<00:32:12.680> your<00:32:12.840> mom,<00:32:13.160> not<00:32:13.360> your<00:32:13.520> dad,<00:32:13.840> not<00:32:14.040> your<00:32:14.200> grandma,<00:32:14.680> not<00:32:14.920> your<00:32:15.040> siblings.

00:32:15.920 --> 00:32:19.760
No<00:32:16.280> one.<00:32:16.920> You<00:32:17.160> have<00:32:17.360> to<00:32:17.440> take<00:32:17.640> that<00:32:17.800> opportunity<00:32:18.280> in<00:32:18.360> your<00:32:18.640> own<00:32:18.840> hands.

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Go<00:32:20.120> ask<00:32:20.640> Richard<00:32:20.960> McDonald.<00:32:21.480> Go<00:32:21.680> ask<00:32:21.920> that<00:32:22.040> headmaster.

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Tell<00:32:23.600> him<00:32:23.760> what<00:32:23.920> you<00:32:24.040> exactly<00:32:24.560> want<00:32:24.680> to<00:32:24.760> do,<00:32:25.760> and<00:32:26.520> just<00:32:26.720> do<00:32:26.840> it.

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And<00:32:27.760> it<00:32:27.840> just<00:32:28.000> works.<00:32:28.480> It<00:32:28.600> really<00:32:28.800> works.<00:32:30.600> Andreja,<00:32:31.040> you're<00:32:31.200> incredible.

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We<00:32:31.880> need<00:32:32.000> to<00:32:32.080> have<00:32:32.200> you<00:32:32.280> back<00:32:32.520> on.<00:32:32.880> My<00:32:33.040> word,<00:32:33.320> I<00:32:33.360> could<00:32:33.480> talk<00:32:33.640> to<00:32:33.720> you<00:32:33.760> for<00:32:33.960> hours.

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Uh<00:32:35.440> congratulations<00:32:36.200> everything<00:32:36.520> you've<00:32:36.680> done.

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What<00:32:37.280> an<00:32:37.440> incredible<00:32:37.840> career<00:32:38.280> and<00:32:38.400> life<00:32:38.680> you've<00:32:38.880> lived.

00:32:39.880 --> 00:32:42.600
Uh<00:32:40.160> Thank<00:32:40.440> you.<00:32:40.720> Seriously,<00:32:41.080> what<00:32:41.240> an<00:32:41.360> honor.<00:32:42.120> Thank<00:32:42.280> you<00:32:42.360> Glenn.

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Thank<00:32:42.840> you<00:32:42.920> for<00:32:43.080> having<00:32:43.400> me<00:32:43.640> and<00:32:44.480> you<00:32:44.560> know,<00:32:44.680> I<00:32:44.760> hope<00:32:45.040> that<00:32:46.240> this<00:32:46.400> discussion<00:32:46.880> could<00:32:47.000> be<00:32:47.120> inspiration<00:32:47.680> for<00:32:47.880> somebody<00:32:48.440> and<00:32:49.920> really<00:32:50.120> great<00:32:50.920> really

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great<00:32:51.320> to<00:32:51.360> be<00:32:51.480> here.<00:32:51.800> Thank<00:32:52.000> you.