 I think we'll start. Hi, my name is David. I'm a student at MIT Sloan. I'd like to introduce to you Sandy. He is one of the most cited research scientists on Earth. Forbes recently called him one of the seven most powerful data scientists in the world. He helped co-found and direct the MIT Media Lab. He also runs the MIT Connection Science and Human Dynamics Lab. Please welcome our very own. Thank you. So I guess I'm going to stand, because that's will make me think faster. So great to see everybody having fun here, and interesting stuff. So I'm going to tell you a little bit of a story about the program that I run in entrepreneurship and venturing, and where it ends up, which is someplace new, someplace we call first customer. And the story starts almost 20 years ago when I noticed a big change. Until that point, students who graduated with PhDs either went to academia, or they went to places like IBM or Microsoft. And then suddenly in the late 90s, there was this big change. And the big change was is that an increasing percentage of people wanted to get involved in startups. And it happened very quickly. It happened only over a couple of years. You've got 50% of the students getting PhDs. I'm going to talk about masters and things like that. PhD students doing it, because you can imagine the percentage is much higher among people who are getting MBAs and things like that. And there were no programs for it. Some courses here in Sloan, but for most of the university, nothing, right? And particularly if you were like a technical guy, or something like that, there was nothing. So I started a venture program. And the venture program was really what is all this stuff about? And would you fit in this? So it's really more about self-reflection and personal identity than it is about content. So we don't teach content. We have people who are starting companies, come and talk to the students. We do networking events. We try to get them seed money, pre-seed money, and help people really think about, is this a good path for them? Because it's tough being in a startup. There's a lot of ups and downs, a lot of uncertainty. And the first thing I started, because at that time I was putting together a series of laboratories in India, was I started a course called Development Ventures. And Development Ventures, nothing like starting in the hardest possible place, was about starting for-profit companies in the poorer parts of the world, the non-OECD countries. And it was tough, because you couldn't get seed funding. You couldn't get venture funding. The rule of law doesn't work everywhere. So there were a lot of issues there. But we did pretty good. Over the last 20 years for Development Ventures, we've probably had over 1,000 students go through there and had almost 100 companies formed out of that one class, which is quite something given how hard it is to do things like that. And over the years, I've seen things evolve. Originally, it was very hard to get any money to do anything. You had to be a very special person to raise money angel funding or series A. Then things like the 100k, well, first it went from 10k up to 100k over the years. And it got looser in the sense that it included things like Development Ventures and Energy Ventures and things that normally weren't the domain of VCs back at the beginning. So money got easier to do. And the other thing that we saw was that here in this ecosystem, we had more and more gift programs, things like the Ideas Contest. So I think the best record we've had is out of one class, we've had 15 groups raise money their first semester. So think about that. So they decide to come up a company. You get a bunch of folks together. Now, you're a month into a three-month semester. And you have two months to raise money. And the majority of the people raise money. That's how rich this area is in terms of little contests, little things to get 5, 10, 15, 20k, up to 50k worth of money to try out your DIA and so forth. And once you've done that, you can begin raising money. And of course, over the years, it's become easier and easier to get A-Round money. But what's not been easier is to turn that A-Round company into something that's really accelerating. That's the Valley of Doth, right? And what I noticed over the years was some companies took off like jet rockets or something like that. And they had special help. Early on, they ran into a big company who could give them a hand. The best examples, Carlos Slim, one of the richest people in the world, helped one of our companies start sort of manpower Inc. on mobile phones in poor countries. He said, well, I'm not going to invest in this because I think you guys are nuts. But what I will do is I'll give you some space in all of our stores in Nicaragua, just to pick a country that he happens to have a telephone company in. And you can advertise there. And that first customer, that first hand up to have space in all the stores in Nicaragua, not a big country, let them work out what they actually needed to do. And it turned out the things they needed to do were not day workers, which is what they thought they needed to do. But things like the bigger stores had no way of getting workers either. And they would come to them and ask, well, we're going to need 10 people a month. And they said, well, gee, that's great. We have all these people who put the resumes in through church groups and things like that. And we can begin doing that. And over the years, what I've seen is that when there are those sort of personal connections, the need meets the startup, then things can really take off. Now, that sounds a little bit obvious, but that's not what normally happens. Normally, you sell a bunch of funders, they give you some money, and then you go on the road and you try and sell. And it's really, really hard. So what we've done is we've tried to think, how could we institutionalize this? Who in the world has lots and lots and lots of first customers? And it's in their interest not to take those customers, but to introduce them to startups. And the answer is, at least so far, consulting companies are that way. So we have Deloitte, who is putting a rather large amount of money into helping startups at first, just in the energy sector, find first customers. So what's in it for the customer? Well, lots of people have interesting energy needs. What's in it for Deloitte? Well, they get to look smart to their paying customers. We know some good people at MIT. So they're qualifying these customers, they're looking for the opportunities for the startups so that they can get paid and deliver on their contract. They don't take any equity. None of this has anything to do with equity. In fact, what Deloitte is willing to do is give gift money to the startups for the privilege of introducing them to first customers. And the gift money is, please spend a little bit of time, do a wireframe, do a little market study for this customer. I'll give you 5K, 50K, 100K even, so that you can meet this customer and see if it works. Nothing, no contracts, nothing, right? Just here, I'll give you some cash, gonna introduce you to some people. Deloitte gets something out of it, the customer gets something out of it, and the startup gets something out of it. And I think it's a really interesting recipe. And at Davos this year, I spent an hour and a half with the global head of Deloitte and he was very enthusiastic about the sort of baby steps we've been taking and wants to expand it to different categories. And he doesn't see that it's just a Deloitte thing, he doesn't want exclusivity. He's willing to have other people in there, of course he's gonna raise his eyebrows about some competitors, but we've seen that there are some other companies who are very broad, they're essentially holding company structures, that again have a Rolodex that's impossible to compete against, they know everybody. And it's in their interest to bring people here and they're willing to pay for the privilege. So that's where we're beginning. I think it's an interesting idea. And if you think it's interesting, you can send me email and maybe we can figure out something to do about it. Okay, that's it. Thank you.