And it's legitimate monopoly of means of violence, administrative control, management of public finances, investment in human capital, provision of citizenship rights, provision of infrastructure, management of the tangible and intangible assets of the state through regulation, creation of the market, international agreements, including public borrowing, and then, most importantly, rule of law.

They're valuing these assets at 1 million.

As investors flee

Manage your finances, accounts, and investments

And I'll show you why that matters in a second.

Big investors.

Just Manic Enough.

He valued what we already had at 5 million dollars.

Once you have more than 10 of them you have to develop some kind of a matrix.

Look, I'm going to create a corporation, and I'm going to get a bunch of people to contribute money to that corporation and then I'll manage that money.

The we connotes community the extended family system.

So you can imagine, this is the actual amount of cash that

This is the total actual value.

By the way before we go forward, this is one point I want to mention.

On the equity side of the equation we just have four million shares.

If there are investors willing to finance

And we start getting to the negotiation.

So this is my slice down here, 200,000.

So let's say he convinces investor B to join in.

I think it was at 7.50 a share.

And we allow entrepreneurs to share a percentage of their revenues.

And of that share, we have 2 million shares outstanding.

Sometimes you'll just see AUM used, that just means Assets Under Management

Manage your personal finances

As loadmaster,you're in charge of everything that's brought aboard the aircraft?

Look. This company over here, we're going to issue more shares, for more people to contribute money

Personnal finances manager

Or are you trying to get an intuition for helping to become a better investor?

So essentially, instead of Countrywide being responsible for my loan, my payments now go to these investors.

He had originally given us 5 million.

They are just going alone! (Applause)

But now we actually built something.

What's it like being an investment banker?

But we need to think broad scale. We need to think globally.

We said before any of this stuff on the top existed, the pre money valuation of just our idea was 5 million.

Owns the place. I manage it.

The amount of money you get.

(Laughter) Here's some advice from one of the largest investors in the United States.

And of course the investors would care that the money that they're essentially giving because they're giving money to the investment bankers who are giving money to

CA And now you're a big investor in that and bringing that to market?

And then, let's say, we have several time periods.

So let's say I have investor A.

That they're reducing volatility.

There you go.

In this corner, you have created something that's not valuable and not unique.