Kahl's reaction after Tringas said his fund is equally happy with a solo dividend-paying business or a venture-scale one. Kahl sums it up as an arrangement centred on the founder rather than the investor's preferred route.
…bootstrapper wants, the lifestyle business that just keeps going and keeps going better. And then you have this equity conversion thing where there's a shift where it turns more into a VC paradigm. So what's your ideal, what's the happy path for the Calm Fund in a relationship with the business?
…know, between options that an entrepreneur might want to take and us, basically. So we don't have a preferred path, really, like genuinely. I mean, I think like we want to get a good return on our investment, but how that comes back to us, we actually are like trying to be quite flexible about it.
I love that. It's not, it's not a happy path, it's a happy traveler that you care about. Oh, wow, that was really good already. Yeah, it's I had my morning coffee. That's all I need. Yeah. But yeah, but that's how I feel. You're making this not about you. You're making this about me. Yeah. As a person to get investment from the fund, that is really nice. It's a very comfy way of building this relationship when it's very clear that you just want the business to succeed. You don't…
Yeah, totally. And I will say this is like probably the area of the entire new version of the document that I have the most flexibility and am excited to like discuss and flex and tweak and maybe edit on a case-by-case basis because it is a tricky thing. So just to say what we're talking about…
I just wanted to really hear where this came from. The moment you mentioned these, it's almost what is it called, like a non-compete situation, right? That you used to, as an employee, first of all, you have the non-compete that you can never ever work for or talk about your work after you quit or…
I think it's perfectly fair.