 Hi, my name is Chris Hutchins. I work with Kevin at milk and I guess my title VP is kind of a bit strange It's more just business and basically everything that the engineers the designers don't do Kevin and I do do so marketing business Development finance sales and it kind of goes on to cover pretty much everything Kevin gave you a pretty good overview of what we're doing at milk so I thought I'd just give you a quick background on myself and Some of the cool things that I'm seeing coming from the kind of innovation side in payments and commerce At least from Silicon Valley and stuff that I see day to day so I actually started pretty far away from mobile and Startups and the internet working at an investment bank in New York Working with large companies for mergers and acquisitions and that kind of stuff mostly in entertainment sports and health care And then I moved on to a management consulting firm that kind of focused on strategy for pharmaceutical companies and Basically stuff that I was passionate about the internet and kind of a lot of my friends after University said that the Most prestigious thing you can do is go work at a bank or a consulting firm And so I thought oh well then I have to go work at a bank or a consulting firm I spent about two years there in New York And I kind of realized that I wasn't passionate about that And I didn't really know what I was passionate about and I really needed to kind of reevaluate everything I was doing and thinking about and so my fiance and I decided that we would just kind of take seven months We took a backpack and we started traveling around the world Staying in kind of the cheapest accommodations We could to last as long as possible and we spent some time in Africa and the Middle East and India and Southeast Asia And I kind of met with entrepreneurs and and saw the various ways people were doing things with everything from you know an old Nokia phone in you know Nairobi to you know six smartphones in one pocket in Singapore and Basically what I took from that was that I saw entrepreneurs around the world And I knew that that was something I really wanted to do and I came back to San Francisco And I said I'm gonna go find a Startup to work for because that's that's what I want to do and I joined a company called Simple Geo and Simple Geo, I might say is was maybe too early for their time even but they basically built a platform for mobile developers To integrate location-based services with their mobile applications And it was something that I don't think at the time almost two years ago developers Knew how to use they just knew that they wanted to use so you had a lot of people adding You know random features that didn't make any sense weren't core to strategy and kind of that company was building that some of the coolest Technology it was just not the right place in the right time for that technology to succeed And about a year later I'd been meeting with Kevin and with some of the other Colleagues we started milk with and we kind of thought that what a perfect time to basically Create a company and really take advantage of what's going on in mobile and really tackle some big ideas So instead of talking too much about milk because you know that I thought I'd just kind of present some some interesting things I'm seeing I didn't know Kevin would touch as much on square as he did But I know he talked a little bit about the hardware and why that that was so interesting to him And one of the things that I noticed about square and kind of its application for the world was last night We were walking through all the suks and I Did they do the same thing in the u.s. Is what we call farmers markets and about a year ago It was a completely cash based system. There was no real concept of processing credit cards or anything like you would everywhere else and Recently because all the vendor needs to do is have a cell phone I noticed that people are taking credit cards all over the place if you want to buy food on the street in San Francisco Or New York or Washington where kind of technology is taking off quickly You can actually buy food from a vendor selling things from a cart with your credit card And that's just something that wasn't possible You know a year or two ago and it's kind of really changing the way payments work because you know We're kind of moving towards this cashless society And and square is really making that possible and taking off almost bigger than any mobile payments company that I'm familiar with Another interesting thing if you look at a company like Starbucks which you could say has the ability to do this because they have the Infrastructure in the retail locations all around the world But they basically realize that people don't want to carry 50 cards in their pocket And they don't they want to carry just a small core You know maybe a credit card some cash a driver's license and they basically created a mobile application that lets you preload Starbucks currency onto the application and then on the right you could see and that was the best picture I could find was basically you can scan that application with a device in store and you don't have to carry any cash And they're the first company I've seen that's really successfully been able to turn the phone into like a store-based payments product And you know it's it's I don't know if it's spread throughout the world yet, but it's there It's interesting usually see innovation coming from the smallest companies, but because payments is such a hardware business Some of the really cool innovation is like this at Starbucks You know one of the largest retailers in the world and and they're really taking a forefront and creating that culture of People paying with things other than cash and credit cards, and it's working quite well The other thing is We all know Amazon as this place where people shop online But there's something great about shopping in person and kind of going to a store and being able to hold a physical product And so Amazon realized that a lot of when they were losing business was that people were going to a store And they'd see a digital camera or they'd see a book and they'd want to take that home And so what they did was they created an application where you could just say oh here's a here's a device Let me scan the barcode on that device and then Amazon would pop up and say hey Yeah, I know it looks really good and you can get it today But by the way if you buy it on Amazon you can save 25% and we'll ship it to you tomorrow and you'll get it the next day and so they've basically taken this offline shopping experience and Convinced consumers that they would want to take that back online by making it really simple and focusing on barcode scanning on mobile I get 10 seconds. Finally. I'll say Google Wallet is basically they're taking Android Devices with near-field communication and preloading a credit card on there and basically allowing you to just swipe a credit card at convenience stores or Taxi cabs and stuff but again a very hardware intensive process. That's it. Thank you. Thank you