 and Toronto at the collision conference with Paul Hazel from NGP Capital and thanks Paul for having the time to speak to us. So let's start with the basic question. This is a huge conference, 25,000 people. Why are you here and what are you expecting from that conference? Well, collision does a great job with these conferences. They are large, they bring together a wide variety of people and yet they are able to create a sense of intimacy at the same time. We have the ability to have many conversations but have quality conversations at the same time. That's a good thing. So I think why we ask you to have an interview is we share a joint basic philosophy of providing trust and based on trust. So we as BrightLine, as PMI, we are trying to establish trust in project managers for business, for startups, for everybody but you as a venture capitalist, you are also building on trust. Can you share what trust means to your business? What we think about trust is it gives us the license to operate. It's the confidence to be able to get things done when trust breaks down, the ability to do business breaks down as well. And so we have a legal system that helps enforce or provides trust but that I think is a fundamental and not a very good baseline to work from. We talk a lot about doing the right thing and we think of that as a higher ethical standard than what is required from a legal point of view. That's right. So there's a difference between legal regulations and the ethical values you share. That's right. Honestly, like respect, like respond billion and this kind of stuff. So when you are entering in a discussion with startup founders and you're trying to see if you can trust them to deliver what they promised, how do you judge? Do you look at the people in person? Do you just look at data? We've looked at their background and we live in a more open environment today where data is available and you can see on a variety of different sources how they operate. We look at reputation. Before we invest in anyone, we will do extensive background checking. And we're only going to invest in people that we trust. Okay, but it's the individual you're looking at. The one who comes to you with the business case. So if it goes further, if there's a business plan for two, three, four years, you look at them again. So how do you advise them or what do you look at how the business is developing? Are they hiring the right people? Is that something you're looking at? How they are building their portfolio? I've done a fair amount of work on good governance and we believe that the governance from a board perspective, it doesn't create companies, but it can destroy companies. And so we believe that a culture of transparency, a having open dialogues, having good people around the table, is very important in creating a company that can scale. Yeah, I hear you know from what you said about the ethical standards that should be there and the culture, I feel that you're saying, okay, culture is the most important thing that should be installed in these companies, right? It is a very important thing. I think it's a culture is underestimated, underappreciated. From a technology point of view, we tend to think of barriers to entry as being technology-based and perhaps business model-based, but actually culture is the most effective and hardest competitive feature to complicate, to replicate because if you have a strong culture, it's something that can promote effective operations, but it's not something that's readily visible or could be replicated from the outside in. Right, right. Can you give me a last advice on how you advise companies or what they should do about culture and how should they bring in other people who advise them, consultants, or should they try to build it from their own team? The culture needs to start with the founder, and so a lot of it depends on the openness, the transparency of the founder, and then there are systems that can support that. A good board culture can do that, a good reporting culture does that. The openness and the willingness to seek advice, then leads to wanting to bring in good people around you, whether they're members of your team or the advisors. All of that comes into building a culture of trust and ultimately scalability of the business. It's interesting, so we are at a technology conference, but we are talking about the human factor. That's right. It's interesting. Well, thank you very much for that conversation. Thank you. It was a pleasure. Yes.