So we're here in San Francisco at the third annual convening of the social capital markets also known as SOCAP 11 and this is a real treat because we're here with Bob Batillo who is an iconic class, the trailblazer and a leader in the space of the solar capital. I think I can spell it. I've written it out one or two times. I have from the south. It's easier. It's easier than entrepreneur. I still spell that wrong all the time. But Bob is the founder of Grey Matters Capital and interned in Grey Ghost Ventures. First Light Ventures is an incredible entrepreneur himself and today we're just going to jump in deep. Bob, you know what? I'd love to start is you have been notoriously and continue to be a trend setter. And I'm curious as to what you believe are the trends in the social capital markets where this is moving and maybe also where the gaps still remain. We see big breakthroughs in ed tech, education technology in ag tech. We see, because there's something called care go that has, it's like a clinic in a box in Nairobi. And you would be amazed at the quality of the care that people are getting for 75 cent visit. There's a whole conversation about whether these investments, whether you have to trade off, whether you have to forsake financial return for social impact. And I don't believe you do. I don't believe you do. Now I'm one of the few that think the two actually can reinforce each other. Right. And where do you think are the biggest gaps in this burgeoning market of social capital? The whole power structure of investment is best aqued, it really, really is. It encourages a whole promotion mentality of investment dance. And so why would I want to tell you about what I'm really need help with? I want to tell you what I'm super good at. Right. So I paint this picture of invincibility to you as an investor. You buy into that. It's destined for struggle. Companies are really created. They're not born. Absolutely. So you have to go through an iterative process that, and try stuff. That's where moldness comes from. And it won't always work. And so you have to be able to be agile and change. I would really like to be part of spiritualizing capitalism. Financial capital is a tool that can be used to benefit mankind. But it does require building on solid relationships, building on care, building on trust, building on your loyalty as an entrepreneur, your imagination, and doing this together. Yeah. And I was just thinking about this. That entrepreneurship embedded it, ingrained it, is this idea of the iterative process of innovation. But when we look at investment venture capital, we're typically using the same tools we have been for 50 years in terms of the terms. Are you starting to see new term sheets develop or different ways of placing capital when the exits aren't as clear? I see three opportunities for exit that are a little unusual for early stage companies. First, you are seeing conventional VCs. There are probably 300 solid impact investment funds by our account, maybe $3.5 billion in these funds. And they're a little bit constipated. They're waiting for the first move funds. It's not flowing through. They're complaining about pipeline. Yeah, pipeline's there. So if we can demonstrate a few effective models, I believe some of that money will come down and start a little earlier, or go invest a little earlier, or provide some capital which can't provide some exits. The third is corporates. That's right. I've been stunned. We were involved with a company called Selbazar. They were required by Telonore, the fourth largest telecom company in the world out of Norway. And they put it in their annual report. A little $5 million acquisition. I don't know how many billions of dollars in revenue that they've got. But this is T90. And they got a full page in their annual report. This is absolutely crucial to who this company is. And in this way, it's a grassroots way to move the needle. To move the big stakeholders, the big capitalists, the big pension funds. You know, almost like a Trojan horse. Because if they hold to their word and grow that little enterprise they can find out, hey, this is good business. And our customers like it. Our investors like it. You know, the nurses that have their pensions with CIA craft, the teachers, the artists, they're happy that we are helping do something good in the world. So I am seeing some corporate, provide some exit money. Now, is this a 20 year or a 10 year? I'm terrible with timing. So I may be hanging on to these and nursing them along. Like, you know, when, please. At the same time, it may just happen. I may have room for grace. That's right. This thing might tip a little bit. Bob, thank you so much. That was really, really a treat. Thank you, Daniel. And I look forward to hanging out with you again real soon. Thank you.