How To Build The Next Billion Dollar Startup | Forbes

Summary

هذا الملخص يناقش أهمية التفكير بطريقة مختلفة والبدء الأعمال بطريقة غير تقليدية، كما يشدد على ضرورة وجود فكرة فريدة وميزة لنجاح الأعمال. يناقش المتحدثون أيضًا أهمية التصميم الجيد للمنتجات وعدم التركيز فقط على التحسين. يناقش المتحدثون أيضًا أهمية الرؤية الطويلة المدى وعدم الاعتماد فقط على الحظ. يشير المتحدثون إلى أهمية العمل في مجال يثير ال열اء والأهمية، بدلاً من العمل فقط من أجل الربح أو ال الشهرة.

Takeaways

• 😀彼得·蒂尔是PayPal的联合创始人，也是Facebook的首个外部投资者，他相信每个商业时刻都是独一无二的。
• 🚀蒂尔投资了SpaceX，认为伟大的企业总是独一无二的，没有简单的公式可以复制成功。
• 🤔他强调，创业者应该追求独特性，做没有人在做的事情，拥有没有人有的想法。
• 💡蒂尔认为，创业者应该建立垄断型企业，成为世界上唯一做某事的人。
• 🏠他提到硅谷有时过于追求创造数十亿美元的公司，而忽视了其他类型的企业，如餐厅和分销公司。
• 🤝蒂尔建议创业者应该思考长远，不仅仅关注短期目标，而是要有5到10年的愿景。
• 🎓他批评现代教育体系和职业发展路径过于强调简历和资历，而不够关注个人的热情和真正的价值。
• 🧠蒂尔认为，成功的企业家应该有远见，即使这个远见可能是错误的，但至少有一个基于推理的计划。
• 🌟他提到，Facebook的成功部分归因于扎克伯格对真实身份社交网络的执着，这是之前没有公司成功实现的。
• 🤝蒂尔强调，选择正确的合作伙伴至关重要，最好与已经认识并了解的人一起创业。

Q & A

ما هو المفهوم الأساسي الذي يتمحور حوله حديث بيتر ثيل في هذا النص؟

المفهوم الأساسي هو أهمية التفكير بطريقة مختلفة وعدم اتباع القوالب النمطية أو الصيغ المتكررة في تأسيس الشركات. بيتر ثيل يشدد على أهمية التميز والتفرد في الأعمال لتحقيق النجاح.

لماذا يؤكد ثيل على ضرورة أن يكون العمل الذي يقوم به الفرد فريداً من نوعه؟

ثيل يؤكد أن الأعمال الناجحة حقاً هي تلك التي تبتعد عن المنافسة الشديدة وتقدم شيئاً فريداً من نوعه لا يمكن للآخرين تقديمه، مما يجعلها أشبه بالاحتكار في مجالها.

ما هي الانتقادات التي يوجهها ثيل إلى الشركات الناشئة التي تتبع نهج "Lean Startup"؟

ثيل ينتقد التركيز المفرط على تحسين المنتج بشكل متكرر دون امتلاك منتج أساسي قوي. يرى أن وجود منتج قوي منذ البداية هو الأهم، وأن التحسين المستمر يأتي بعد ذلك.

كيف يرى ثيل دور الحظ في النجاح؟

ثيل يرى أن الإفراط في الاعتماد على الحظ كعامل نجاح قد يؤدي إلى تقليل من قيمة التخطيط والعمل الجاد. وهو يعتقد أن العمل الجاد والتخطيط الجيد يساهمان في خلق الحظ الجيد.

ما هي النصيحة التي يقدمها ثيل للشباب الذين يفكرون في ريادة الأعمال؟

ثيل ينصح الشباب بالتركيز على حل المشكلات الهامة التي لم يتم حلها بعد بدلاً من البدء بأعمال تقليدية ومكررة. يجب أن يكون لديهم شغف بما يقومون به وأن يكونوا على دراية بأنهم يقدمون شيئاً مميزاً.

كيف يرى ثيل أهمية الشغف في العمل؟

ثيل يعتقد أن الشغف هو عنصر حاسم في تحقيق النجاح. إذا كان الشخص شغوفاً بما يفعله، فإنه سيقدم شيئاً ذا قيمة حقيقية ولا يمكن تعويضه بسهولة من قبل الآخرين.

ما هو السبب الذي يجعل ثيل يشدد على العمل مع أشخاص يعرفهم الفرد جيداً؟

ثيل يؤكد أن العمل مع أشخاص يعرفهم الفرد جيداً يقلل من المخاطر ويزيد من فرص النجاح، لأنه يمكن الاعتماد على المعرفة المسبقة والثقة المتبادلة في بناء شركة ناجحة.

ما هو الموقف الذي يذكره ثيل عندما عرضت شركة ياهو شراء فيسبوك بمليار دولار؟

ثيل يذكر أن مارك زوكربيرج، على الرغم من صغر سنه (22 عاماً)، رفض عرض ياهو لشراء فيسبوك بمليار دولار لأنه كان يعتقد أن هناك منتجات جديدة ومبتكرة ستطورها فيسبوك لم تقيمها ياهو بشكل صحيح.

كيف يصف ثيل أثر التنافس على الهوية الشخصية للأفراد؟

ثيل يصف التنافس بأنه يؤدي إلى تحسين مهارات الأفراد في مجالات معينة، ولكنه قد يأتي على حساب فقدان البصيرة لما هو حقاً ذو قيمة وأهمية في الحياة.

ما هو الفرق الذي يراه ثيل بين التفكير العشوائي والتخطيط للمستقبل؟

ثيل يرى أن وجود خطة، حتى وإن كانت خاطئة، أفضل من عدم وجود خطة على الإطلاق. يؤكد أن التفكير المنظم والتخطيط للمستقبل يساعد في تجنب الفشل ويعزز من فرص النجاح.

Outlines

00:00

🚀 Entrepreneurship and Unique Business Ideas

The speaker begins by humorously addressing the age of entrepreneurs and segues into a discussion about his involvement with PayPal, Facebook, Palantir, and SpaceX. He emphasizes the importance of thinking differently and challenges the audience with a question from his book about the one thing they shouldn't listen to him about. He acknowledges that while he has experience in technology and startups, every business moment is unique, and there's no straightforward formula for success. He advocates for differentiation, suggesting that entrepreneurs should aim to create monopolies by doing something that no one else is doing.

05:02

🤔 The Pitfalls of Imitation and the Lean Startup Trend

In this paragraph, the speaker delves into the concept of imitation and its role in society, from learning language to contributing to economic bubbles. He critiques the Lean Startup approach, which advocates for quickly launching minimal viable products and iterating based on market feedback. Instead, he argues for the importance of having a great product first and then iterating. He also touches on the societal issue of lacking a clear direction, comparing the current state to an optimistic but aimless nation, and suggests that having a plan, even if it's flawed, is better than no plan at all.

10:04

🎓 The Value of Passion and Counterfactual Impact

The speaker reflects on his own educational and professional journey, questioning the value of traditional career paths and the emphasis on competition. He suggests that pursuing passion and working on problems that would otherwise go unsolved is more meaningful than simply competing to win. He discusses the concept of counterfactual impact, where the work done is so unique and necessary that it would not exist if the individual wasn't doing it. He also shares anecdotes about Mark Zuckerberg's passion for Facebook and the importance of building a product that stands out, as opposed to just being another entry in a crowded market.

15:06

🤝 Choosing the Right Co-founder and the Power of Persistence

In the final paragraph, the speaker discusses the importance of selecting the right co-founder for a startup, suggesting that it's better to partner with people you know well rather than strangers. He shares insights on the prehistory of founding teams, emphasizing the value of a shared vision and history. The speaker also recounts a pivotal moment in Facebook's history when the company was offered a billion dollars by Yahoo. He highlights Zuckerberg's decision to reject the offer based on the belief in the company's future potential and the unvalued products that were yet to be built.

Keywords

💡PayPal

PayPal هو خدمة دفع عبر الإنترنت تسمح للأفراد بإرسال واستقبال الأموال بسهولة وأمان. في النص، يذكر أن Peter كان أحد مؤسسي PayPal، مما يشير إلى دوره الرائد في مجال التكنولوجيا المالية. PayPal كان الخطوة الأولى في مسيرته作为一个技术创新者.

💡Facebook

Facebook هي شبكة اجتماعيةات إلكترونية عالمية ت容许 billions of users to connect and share content. Peter was the first outside investor in Facebook, which underscores his role in recognizing and supporting transformative tech ideas.

💡Big Data

Big Data هو مجمع كبير من المعلومات التي يمكن من خلالها استخراج المعرفة وال洞见. Peter refers to 'Palantir', a company that leverages big data analytics, implying the significance of data in modern tech and security applications.

💡SpaceX

SpaceX هي شركة تجارية ت设计与 launch spacecraft with the ultimate goal of enabling multiplanetary human life. Peter's investment in SpaceX illustrates his vision for backing ambitious, world-altering projects.

💡Monopoly

Monopoly في سياق الأعمال تشير إلى وجود شركة واحدة تسيطر على السوق. Peter stresses the importance of differentiation and uniqueness in business, suggesting that aiming for a monopoly-like position can be beneficial.

💡Zero to One

Zero to One هي فكرة أن الابتكارات الجديدة تبدأ من الصفر إلى الواحد، مما يعني أن العملات الجديدة هي فريدة وغير قابلة للتكرار. Peter uses this concept to argue against formulaic approaches to starting businesses.

💡Differentiation

Differentiation هو عملية التمييز بين منتجات أو خدمات لجعلها مميزة. Peter emphasizes the need for entrepreneurs to offer something distinct that no one else is doing, which is crucial for standing out in a competitive market.

💡Lean Startup

Lean Startup هو فكرة أن الشركات الtech startups يجب أن تبدأ بمنتجات بسيطة يمكن تحسينها بمرور الوقت. Peter criticizes this approach, arguing for the importance of having a great product from the outset rather than focusing solely on iteration.

💡Passion

Passion هو الشعور العميق بالإهتمام بشيء ما. Peter suggests that entrepreneurs should pursue what they are passionate about, as this can lead to more meaningful and impactful work.

💡Competition

Competition هو التنافس بين الأفراد أو المؤسسات لتحقيق هدف معين. Peter discusses the drawbacks of focusing too much on competition, which can lead to a loss of focus on what is truly valuable.

💡Imitation

Imitation هو التقليد من الآخرين. Peter warns against the pitfalls of imitation, advocating for original thinking and innovation over simply following what others have done.

Highlights

Peter Thiel emphasizes that every great business is unique and cannot be replicated by following a formula. The idea is to avoid imitation and create something that stands out.

Thiel suggests that entrepreneurs should aim to build a monopoly by creating a business that is the only one of its kind, addressing a unique problem that no one else is solving.

He points out that many businesses fail because they are in intense competition. In contrast, successful businesses are often those that stand out as one-of-a-kind in their field.

Thiel criticizes the popular Lean Startup methodology, arguing that it's more important to start with a great product rather than simply iterating based on market feedback.

He stresses the importance of having a clear plan for where a business will be in 5-10 years, rather than focusing solely on short-term gains or the next quarter's results.

Thiel argues against the randomness of career paths encouraged by the education system, advocating instead for a more intentional and purposeful approach.

He suggests that luck is often over-emphasized in success, likening it to an 'atheistic word for God,' implying that people should focus more on planning and effort.

Thiel discusses the need for differentiation in startups, highlighting that the next big tech founders will not create similar products to their predecessors like Facebook or Tesla.

He believes that entrepreneurs should focus on solving unique problems that would remain unsolved without their intervention, making their work meaningful.

Thiel highlights the danger of 'ape' behavior—imitating others—which can lead to bubbles and irrational market behavior, emphasizing the importance of original thinking.

He mentions that passion is key in choosing a path or starting a business, and that merely following a traditional credential path can often lead to a lack of true direction.

Thiel shares a key decision point in Facebook's history when Mark Zuckerberg turned down a $1 billion acquisition offer from Yahoo, emphasizing his commitment to building out Facebook's potential.

He advises against starting a business simply for the sake of becoming an entrepreneur or getting rich, suggesting that success is more likely if one focuses on solving an important problem.

Thiel talks about the importance of having a strong founding team with a solid prehistory of collaboration, suggesting that trust and understanding among founders are crucial.

He distinguishes between businesses that are valuable because they are solving problems no one else is addressing, versus those that are merely competing in saturated markets.

Transcripts

what better way to get started under 307

than having two 40y olds talk to you

right but uh in fact um Peter was once

one of you guys he was uh I don't know

how old were you when you found

co-founded PayPal uh 30 31 30 okay

didn't quite make the cut uh but I would

not have made the cut changed money with

PayPal uh was the first outside investor

in Facebook which we know changed the

world uh back paler which is I I believe

they helped find Osama Bin Laden as a

big data play

um and in invested in uh SpaceX so that

could change the universe and the Galaxy

um my first question for you though and

this ties into the ideas in the book uh

which is very much about thinking

differently and is is

um what's the one thing they shouldn't

listen to you about you make you have

this great question in the book what is

the one thing that you know to be true

that most people would disagree with you

yeah so what what is that I'm sure

there's a lot of things people shouldn't

listen to me about they probably should

listen to me about fashion advice or

they shouldn't listen about um all sorts

of things I I don't know that much about

um and I I do think um even with respect

to starting businesses or uh in

technology so let's even focusing

narrowly on technology startups um the

uh the substance of what uh what people

do is uh is always um is always unique

and different uh I think every moment in

the history of business happens only

once

the next Mark Zuckerberg won't be

starting a social networking site the

next Bill Gates won't start an operating

system um you know the next Elon Musk

won't start a Tesla electric car company

um and uh and so and so there and and so

I I what I what I always push back on uh

really strongly is that there's some

kind of straightforward formula because

we're always looking for some sort of

pseudo scientific formula um you know

science starts with number two with

things that are sort of experimentally

repeatable but U but great businesses is

are 0o to one it's it's they're always

oneof a kind and so there there is

always this anti- formulaic quality um

and that's why um that's why I don't

have like there are a lot of specific

things I can't give advice on the um the

the the the one theme that I always come

back to though that that comes out of

this anti- formula formula out of this

one-of-a-kind nature of of great

businesses is uh is this need for

differentiation what are you doing that

nobody else is doing what ideas do you

have that nobody else has what great

business are you working on that no one

else is working on and um and and the

and you know the the the the business

idea that I come out of it from is that

uh if you're a founder or an

entrepreneur um you should always aim to

build a monopoly where you're the only

person in the world doing what you're

doing um and I I I often think this is a

little bit extreme but that there are

really are only two kinds of businesses

in this world there are businesses that

are in Crazy competition and there are

one-of-a-kind businesses that are

monopolies but there's something there's

something I mean you you've been in and

among Silicon Valley for so many years

and some people criticize Silicon Valley

for having this this capsule like

thinking where everything has to be you

know a gajillion dollar company and

which you know we love those companies

they're great but everywhere else in the

country people are starting restaurants

and starting you know Warehouse

companies distribution companies that

aren't going to be multi-billion dollar

companies but they're really for those

people that's their passion and they're

excited about it so the idea how do how

do you make sure the ideas in in your

book don't discourage them from at least

having some economic interest in what

they're doing well um well I actually

think you should think twice before

starting certain types of businesses so

I think um there are probably too many

bad businesses getting started and not

enough good ones so that's it's um you

know I I don't think there's I don't

think there's anything about

entrepreneurship per se that is um that

is is good you know I was talking to one

of my friends a few years ago I was

asking him what do you want to be doing

in 5 or 10 years oh it's really clear I

want to be an entrepreneur that's like

saying I want to be rich I want to be

famous um and I I don't think uh I don't

think those are those are good things

being rich and famous um they're not

good as direct goals like if if you if

you have that as your sole goal you're

unlikely to I think really uh really

succeed and so I think you become an

entrepreneur because you're working on

an important problem nobody else is

working on I think you should start a

business if you have uh something if

you're if you're working on a problem

that otherwise would not get solved

without having a lot of you know you

know World Experience how do you

identify that which needs to be done it

certainly is my uh claim that I think

there are many um many of these sort of

Secrets which I Define just as problems

that you can solve that no one else has

solved yet or um ideas that are just

sort of at the at the boundary so I

think there are a lot of these uh things

that exist and I think it's always some

combination of um something that's an

important problem and often um often

there's some reason people have a blind

spot around it or aren't aren't thinking

about it so I think there's always I

always like to get it from both a sort

of a foundational level which is some

you know maybe some substantive area

that you're really passionate about and

um and this sort of psychological love

of why why is this something that so

many people are missing in one way or or

another you know the word already in the

time of Shakespeare the word ape meant

both primate and to imitate and and you

know we uh imitation plays an enormous

role it's how we learn language as kids

it's how culture gets transmitted but it

also leads to a lot of insane Behavior

it leads to sort of The Madness of

crowds it leads to bubble-like uh

Behavior which we've seen many in our

society in recent decades and so um and

so I think this um challenge not to just

reflexively imitate and to think for

yourself is um it's um it's always very

trivial to say and it's always um quite

hard to to actually do do um and and you

also take issue with the way a lot of

young companies run there's there's a

there's been a big fat or Trend uh an

approach uh of Lean Startup I mean uh

where you you know small teams put out

the quickest product you can get a look

at get the market to look at it fix it

as you go uh everyone's doing that you

think that's wrong I think um you know I

think that uh I think there definitely

are things that one can iterate on but

the the core thing is to have a great

product and then you can always improve

and and iterate on that in all sorts of

ways and I think you know I think um

even in in the tech industry um uh

what's striking is how um weak on a

quantitative basis so many of the

successful companies were it was just

they had a great product and then years

later they were able to optimize it in

all sorts of all sorts of ways um

whereas if you're just trying to

optimize and you don't have a great

product um I think that uh that rarely

Works um I think it's always worth

asking you know where you're going to go

with this business um and so I think

we're always focused on very shorttime

Horizons because you have to you know

figure out a way to get through the next

month the next quarter um you know how

do you get some customers how do you how

do you track but it's it's always worth

thinking ahead you know 5 to 10 years

you know why will this be a really

valuable business in 5 to 10 years and

um you know how's the competitive

landscape going to develop how's

technology going to develop how's the

world going to develop um these are hard

questions to answer but I think um I

think I think I think the uh the great

entrepreneurs that I know always have

some perspective on it and it might be

wrong but it's just this is what's going

to happen and then it's sort of well

reasoned and and so you have a you have

a plan and you know it's uh when I when

I was playing chess uh you know in

junior high school one of the early

lessons I learned was a bad plan is

still always better than no plan at all

right and so you know have a plan you

can always change it but don't uh don't

just pretend that uh that you have no

clue about what's going to happen and

that everything about the future is

random if you if you sort of say that

everything's random and out of your

control that's that's that's the way you

set yourself up for failure right you

talk about that as like even as a

society problem in America today like we

we are a nation of optimists but without

a definite idea of where we're going

unlike say you know maybe 50 years ago

or well it's it's you know it's it's

it's it's the way it's the way the whole

education system works you know you you

build a resume with you know a wide uh

variety of activities and then uh you go

to college you get some General Degree

and then uh it's supposed to lead to

various uh jobs that lead to other jobs

and it's sort of this this random walk

we sort of figure out what to do

do your fure so I do think I do think we

over the of luck we we exaggerate the

role of luck in our future I've I've

said you know I think luck is like an

atheistic word for God where when we we

attribute too much to luck we um we stop

think we we could be thinking a little

bit more so you think it's is it the old

hard work you make your own luck that

that old that I like that okay so this

whole idea of well well because go back

to because most people in this room you

know did all the right things they went

to good schools they had good

extracurriculars they were you know

captain of the debate team whatever you

know a little bit everything that's the

wrong approach people should be the most

incredible tuba player ever or no no not

necessarily uh but I think I I I think

you should be doing something you're

passionate about so the question is

always you know when I give my younger

self advice you know would I still go to

Stanford would I still go to Stanford

law school um possibly but I think a lot

more about why I was doing it was it is

it just uh you know and I I was on this

super trct career myself I ended up at a

big law firm in New York uh you my

eighth grade Junior High School year

book one of my friends wrote and I know

you're going to get into Stanford in

four years so I went to Stanford four

years later went to Stanford law school

ended up at a big law firm in uh in New

York where on the outside everybody

wanted to get in on the inside everybody

wanted to get out um when I left after 7

months and 3 days um one one of the one

of the people down the hall from me said

it was you know really reassuring to see

that it was possible to escape from

Alcatraz which you know all and all you

had to do was really just go out the

front door but um but so much of um our

identity gets wrapped up in the

competitions we win and um that um and

when when you compete um and I think a

lot of the credentialing resume building

is this sort of competition when you

compete you do get better at what you're

competing at and if you take lots of SAT

test prep classes you'll get a better

score on the SAT um and when you compete

you get better at beating people on the

narrow things you need to beat them on

but um but you often it often comes at

this very high price of of losing sight

of what's uh what's truly valuable and

important and meaningful which

is well I think passion well there's

sort of all sorts of other there all

sorts of things that that could be that

but but I think um I think it often the

the I think it often ends up being uh

something that's a little bit off the

beaten path because uh so I think um you

know there's there's obviously Financial

version where you get to be have a

monopoly like business the there's a the

meaningful version I think is always

counterfactual where if you weren't

doing this um would you know it's great

to be working on problems where if you

weren't working on them nobody else

would do them you know if you're working

at the fourth online pet food company

the 10th th film solar panel company the

1,000th restaurant in Philadelphia

There's a sense that if you weren't

doing it someone else would um you know

if you're working at uh at at something

where it's the only thing of its kind in

the world that's very meaningful if if

we weren't if and it could be for-profit

nonprofit all sorts of context if we

weren't doing this this problem would

absolutely not be tackled I think that's

the kind of that that's what's that's

what's meaningful whereas when you're

competing you're ready by definition um

number two at least in a category did

did this did this whole when you first

met Mark Zuckerberg did this all this I

mean looking in hindsight did he

encapsulate all the things you're

talking about was was he doing this

because no one else was doing it he was

doing it because he was passionate about

it was he doing because he had an

awesome product well he was he was

incredibly passionate about it um it was

uh you know there always because it was

the Winkle boss's idea you know that

right uh I looked into that that's well

you you you know that the that their

their dad was a plaintiff's lawyer so we

have to get like some of the details

right in these stories but um but I

think that um I think that uh there

there often are category broad

categories where you can say you can say

there have been social networks before

um you know my friend Reed Hoffman

starting LinkedIn started a company 1997

called social net so they already had

the name in the company seven years

before Facebook now their idea was that

uh you'd basically have this uh this

sort of alternate virtual reality where

um you know maybe I'd be a cat and you'd

be a dog and we'd interact in cyberspace

and we'd have these different rules of

how we' conduct ourselves um and so the

and I think Facebook was the first one

that actually cracked real identity was

um was at its core about um about real

people um in a way that um none of the

others quite succeeded even even my

space was more it started sort of in Los

Angeles it was about people pretending

to be someone other than who they are

which is what people do in Los Angeles

um and um you know Facebook started at

Harvard where it was it was sort of

basically um trying to get a map of of

real identity so I think it was the

first one to really crack that problem

and you know and and Zuckerberg was you

know very passionate about it I always I

always say that the uh the most

important moment in the history of the

company was in um 2006 in July of' 06

when Yahoo offered us a billion dollars

Zuckerberg was 22 at the time he owned a

quarter of the company um it was just a

college site we had maybe 35 million in

revenues no profits and so we had a

board meeting three of us met uh Monday

morning Zuckerberg starts the meeting

off saying well this is the formality

obviously we're going to turn this down

and myself Jim Brier the two investors

on the board both said you know we

should probably talk about this a little

bit more and um and so it ended up being

not a 10-minute it ended being like a

six- hour long conversation but it was

sort of all about like well Mark you'd

make a quarter of a billion dollars

there's a lot you could do with this

money um and it was well I don't know

what i' do with the money I would just

start another social networking site but

um but I kind of like the one I have so

why would I get rid of it and um and at

the end of the day the the the key the

key point that uh that Mark made was

that there were a whole set of products

that Facebook was still planning to

build so not just iterating uh that it

was planning to build that surely Yahoo

was not valuing properly and um and he

was he was right I mean these the future

is never valued right in these things

when and when you talk about important

moments in the lives of because a lot of

people here are starting companies or

Ventures with people they either maybe

know or don't know that well you talk

about in the book about the the

importance of picking the right founder

the right person to go in with and it's

not usually the one you might think is

the right person well I think it's um I

think it's generally uh good much better

to do it with people you know well you

can sort of there's some debates about

whether it's good to do it with your

best friends or not but um but I think

it's generally a bad idea to do it with

people you don't know at all so you know

sort of I always like asking people the

prehistory question what um you know how

did the two or three people founded a

company how did how did you meet how did

how did it come together the um the bad

answer is we met at a social network at

a networking function a week ago and

decided to start a company because we

both wanted to be entrepreneurs um good

answer is something like um you know

we've we've been talking about this for

a number of years thinking about in one

way or another and uh and sort of uh

pull it together