We can give you a franchise on this for 3,000 bucks.

I'm talking about all companies.

But now, over this period of time, over 2008, 2008 happens.

And imagine that the consortia who bid to run it are told, whoever comes in at the lowest percentage markup on each transaction to fund the whole thing will get the deal.

(Laughter)

I'm a salesman.

I am a member of the sales department.

So now we add an interesting line.

We decided to infiltrate some companies and do a very similar thing.

It's open 24 hours a day. You can go in day or night.

Is it open round the clock?

I prefer to work on my own.

So that's a nice thing to keep in the back of your mind, this return on asset concept, and it's very closely tied to operating profits and the actual assets of a firm.

And that's because they have the same exact asset.

Thus The Pirate Bay isn't idealistic.

That's what depreciation does.

You little...

And we add back the interest, at least in this example, we get to an operating profit number.

This was interest. This was non op income.

And then I was left with 1 million.

But in general if you take EBlT and you take out the non operating income, you get back to operating profits.

He carried on business for many years.

He did the work on his own.

He is the manager of the marketing department.

And these metrics will tell you that.

It might be Ben's management expertise.

Listen, we're not going to have sales marketing and bus dev on day 1.

Your act is an obstruction of business!

I'm a salesman. My name's Neil.

Business as usual.

I am a member of the sales department.

As a Shinnecock Indian, I was raised to know this.

Customer,

SM So, the scientific method I alluded to is pretty important.

And a customer development team says,

Imagine that there's a concession period defined of maybe 15 years in which they can take all these benefits and run with them.

For sales, what that meant is unless the VP of Sales was the founder you tended to hire them around the time engineering were saying, We're in alpha and beta test.

What hours is it open?

So in any of these periods, the depreciation expense should be added back to the operating profit, to figure out the cash from operations.

And the way we saw that is that, their everything, their revenue, gross profit all the way down to their operating profit was exactly the same.

I talked with our sales people.

This store here is open around the clock.

My parents were running a silk farm.

This factory also operates at night.

He has carried on his business as a builder for many years.