:08:01
We know where
we're getting our money back from.
:08:04
But therein lies our Catch-22.
:08:06
I don't follow.
:08:09
- Well...
- Jake, come on.
:08:10
No, it's all right.
:08:12
Leon here is one
of the good guys.
:08:16
Right?
:08:18
Now what I'm gonna tell you is in
complete confidence.
:08:21
It does not leave
this fucking table.
:08:23
- Sure.
- Fine.
:08:25
You know how the dot commers
did what they did, right?
:08:28
In what way?
:08:30
How they made their money.
:08:32
Essentially, they start
with an idea,
:08:34
shop it around town,
raise a little capital,
:08:36
and then sold it
to a bigger company,
:08:38
like a Microsoft or an Oracle or
an Intel. You know, whatever.
:08:42
That's half right there.
:08:44
The beauty of it was, they sold it before the
thing was even real.
:08:46
So you've got the bigger company already
set up to buy the thing.
:08:50
They just want to
see that it works.
:08:53
So these guys go out, get some start-up
capital, make it work,
:08:56
and then sell for five or
six times the initial loan.
:08:59
They're delicious.
:09:01
- But you need a letter of intent.
- Exactly.
:09:04
And that's our Catch-22.
:09:07
We can't really go out
and talk about it,
:09:09
because if it's public,
potentially we start a bidding war,
:09:11
and that's considered a breach of
etiquette. Kills the deal.
:09:14
However, we wait too long, and we're not
considered hot anymore.
:09:18
And you have this letter of intent?
:09:22
Yes we do.
:09:24
We're applying the dot com model
to a different product.
:09:27
Yeah.
:09:29
But the dot coms failed.
:09:32
- Yeah, but that's only...
- No, with all due respect.
:09:35
It...
:09:38
That's going to be
a really tough sell.
:09:40
I mean, you guys have
a real battle on your hands.
:09:42
- That's bullshit.
- Lupus.
:09:45
Look, sorry, Mr. Ashby.
:09:47
I didn't mean anything.
But I just don't think
:09:49
you can argue with the
success of the business model.
:09:52
It was really an
overextension of the model
:09:54
to what turned out to be
a limited consumer demand
:09:57
that caused the
dot com collapse.
:09:59
Now, applied to a proper product,
with a solid consumer base,