And the first one is that this whole idea about revenue stream, Steve, I get it.

EDMUND BURKE. (SOMEWHERE.)

Let me say that again.

So let's start with the data.

But today we re going to be talking about revenue streams.

So why don't you think about this for a second and tell me, which part was the revenue stream and which part was the pricing tactic.

All this kind of added up to the left hand side of this canvas, which is equivalent to revenue streams, but it's the cost.

So a plus b have to be equal to 50.

Because when someone says earnings, are those the earnings last year?

Again the only way to figure this out is being able to interact with tens or hundreds or thousands of customers so you finally understand what the right revenue streams and revenue model is.

You've been out talking to customers.

We've talked about value props, customer segments, channels, customer relationships, revenue streams.

Profitable.

And if we see how they graphed things here, on the vertical axis, what we normally associate with the y axis, they graphed Abby's earnings.

The earnings I just said, this is actually what happened to the company.

If it's growing 100 a year for 20 years, this is actually a very good deal.

Invest financial assistance, but also management assistance.

And we can eyeball it right here.

Maybe Abby made 50 and Ben earned 0.

And what's left over for the equity?

This is a multi sided market.

So let's look at them over the course of one year.

So notice.

Everything on this line would be a valid combination of

And it turned out that it was really helpful to kind of understand our pricing model and our revenue streams.

Where the profits flow, we will s...

It's the same plot.

So, not to confuse things, but if you want to focus on GNP, then you do care about the earnings of American nationals.

Abby earned 10 more than Ben.

And why don't you like them as much?

So the price would be 100.

Another type of revenue model is licensing.

The reason why you are willing to pay a higher Price to

So let me switch colors just to ease the monotony.

And they were male and female 18 30 and they were casual fans.

It turns out we were wrong on that.

More than likely we'll make money from royalties and commercial licensing, etc.

You always have to be looking forward.

This is 2009 estimates.

We've already talked about value propositions, customer segments, distribution channels, customer relationships, and revenue streams.

And that would happen very quickly in today's public markets.

And how they were going to create demand was through search ads, social media, and stadium promotions.

What does that tell us?

It's just a faster way of saying

So now we add an interesting line.