The reason we own large percentages is becuase we are not like a traditional VC. We don't take business plans but rather follow our own ideas and seek out people to partner with and fund them. Most CEO's had no intention of starting a business when we contacted them.

We had to make the tough decision about what in our portfolio might have to find another home. Many of our businesses are cash flow positive but 8020 is not and we first tried large publishers who need the business but don't know it yet unfortunately. Then we received a huge outpouring of support from people on the net who wanted to keep it alive which was very gratifying. If all goes well it won't miss a beat and a company that I am personally very fond of will be able to continue.

We build businesses that are interesting to us and are a challenge and let us work with interesting people. Not all will work but a surprising percentage actually have to date.

Hopefully JPG will find a good home and we can maintain our track record of having each business we have started to date go on to be successful as an innovative product and a business.

And lastly unkle_jeremy if only my feeble mind could remember events so vividly 12 years ago. Most people can't even describe a purse being snatched accurately 2 minutes later. However you remember such ancient events so vividly PLEASE let me know since i am forgetful to start with -- today -- and God only knows what it'll be like in 20 years.

Thanks.

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