The Japanese government were perhaps the first, when they decided to invest first 3 billion,

EBlT in this case would be the operating profit plus this investment income.

The amount of money you get.

Well, surprisingly of course venture capital always does follow on rounds so this was kind of a trick question.

And they have an auction.

So it gives these shares to each of these people, and they have to contribute 200, so essentially, it puts another 1,000 into the pool, that Pete can now manage, and so now the total NAV for the fund is 2,000 now and Pete will get his 1 management fee off of this entire 2,000.

An advance. Straight away. Or I stop.

Investment

Malibu Equity and Investments.

Well their intention was to take these home equity loans and put that money to work, invest it in some way.

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He valued what we already had at 5 million dollars.

They're valuing these assets at 1 million.

Investing in professional development is not a cost.

As investors flee

Investing.

Adding the following additional network routes

They're like, look, both of us have tried out this guy, he's doubled our money two years in a row for both of us, you probably want in on this as well.

Malibu Equity and Investments. Roger Van Zant.

What's exciting is that over the last two or three years, the government has spent 400 million dollars, and they've allocated another billion dollars, to what we call the Cancer Genome Atlas Project.

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We've also seen some evidence that all this is making a difference because private investment flows have increased.

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

Big investors.

Investment in what?

And, of course, when you have consumption touching up against you're fully utilized, that makes it even more an incentive to invest.

Now, who are they accountable to?

Let me put that.