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VCs are lobbing cash at the presidential election and key congressional races, FEC data shows. This election cycle, investors at the top venture capital firms have plowed tens of millions of dollars into the election, both backing their favored political candidates and just cannily promoting commercial interests. (The filing deadline for Q3 data for quarterly filing entities was October 15, but this data isn't yet readily available in full online.) Business Insider selected 10 venture capital firms to focus on, taking into account fund size and cultural and industry significance. Sequoia Capital's Doug Leone is one of VC's most prolific GOP-aligned political donors, giving his almost $3.8 million to the National Republican Committee and other causes.
Persons: Reid Hoffman, Kamala Harris, , hasn't, Andreessen Horowitz, blockchain, Marc Andreessen, Ben Horowitz, a16z, Horowitz, Andreessen, Harris, megadonor Reid Hoffman, Keith Rabois, Kleiner Perkins, Michael Moritz, Shaun Maguire, Joe Manchin, Hoffman, Horowitz Hoffman, Joe Biden, Biden, Nikki Haley, Trump, Vinod Khosla, John Doerr, Doug Leone, Elon Musk, Melia Russell, Rob Price Organizations: Service, Federal, Commission, Yuga Labs, White, Republicans, Founders Fund, SpaceX, Khosla Ventures, Sequoia Capital, Sequoia Heritage, Business, Republican, Lincoln, Democratic, Democratic Party, Democratic Congressional, Sequoia, National Republican, Future Forward PAC, America PAC, Elon, Investors, splashy Hamptons, Harris Victory Fund, Harris Action Fund, Democratic National Committee Locations: Solana, Sequoia, West Virginia, New Hampshire
Experts told BI that Israel still lacks a long-term strategic vision on how to end the war. But while Israel may have military superiority in the region, it lacks a clear, long-term strategic vision to end conflict in the Middle East, according to security experts. It's clear the Israel Defense Forces have achieved a series of tactical gains in recent weeks, but they still lack a clear military strategy, security analysts told Business Insider. "Neither outcome achieves Israel's security objectives, which would represent a defeat for the IDF and could threaten the survival of Israeli Prime Minister Benjamin Netanyahu's government," Pfaff said. The problem may be that Israel's security doctrine has long been based on short wars.
Persons: Israel, , Burcu, Benjamin Netanyahu, Bashir Abbas, Chris Doyle, Doyle, They're, Anthony Pfaff, Pfaff, Benjamin Netanyahu's, " Pfaff, Moody's, Will, Edmund Fitton, Brown, Donald Trump, Netanyahu, Kamala Harris, Daniel Hoffman Organizations: Service, Israel Defense Forces, Middle East Security, Royal United Services Institute, Israel's, Stimson Center, Council, Strategic Studies, US Army War College, Guardian, of Israel, CNN, Counter, CIA, Fox Business Locations: Iran, Lebanon, Gaza, Iraq, Syria, Israel, Beirut, British, Moody's Israel
Despite a 7% rebound on Monday, Trump Media has lost nearlythree-quarters (72%) of its value since peaking at $66.22 on March 27. The wipeout reinforces concerns raised by experts who have repeatedly warned that Trump Media’s multi-billion-dollar price tag defies logic. The company is losing money, generating very little revenue and Truth Social remains a relatively tiny player in social media. In August, Trump Media launched Truth+, a TV streaming platform on iOS, Android and the Web versions of Truth Social. It’s possible Trump Media’s stock market fortunes could turn, especially with the former president’s high-profile debate Tuesday with Harris.
Persons: Donald Trump’s, It’s, Trump, ” Matthew Tuttle, Barry Diller, , Reid Hoffman, Diller, Hoffman, Tuttle, Kamala Harris, Joe Biden, Harris, ” Tuttle, Still, you’re Organizations: New, New York CNN, Trump Media & Technology, Truth, Trump Media, Trump, Bloomberg, Tuttle Capital Management, CNN, CNBC, LinkedIn, Democratic, ” Trump Media Locations: New York
New York CNN —LinkedIn co-founder Reid Hoffman is throwing his financial firepower behind Vice President Kamala Harris. Ohio Sen. JD Vance, the GOP nominee for vice president, is a fan. Harris campaign: No discussions on replacing KhanHoffman told CNN he “certainly” hasn’t directly pushed Harris to replace Khan. A Harris campaign aide told CNN that there have been “no policy discussions” about replacing Khan at the current time. That was a mistake,” Hoffman told CNN.
Persons: Reid Hoffman, Kamala Harris, Hoffman, CNN he’s, Harris, United States ’, Lina Khan, “ Lina Khan, ” Hoffman, Joe Biden, , Khan, , Bernie Sanders, Hoffman Khan, Sen, Mr, Hoffman ”, Massachusetts Sen, Elizabeth Warren, Khan . Ohio Sen, JD Vance, Vance, Biden, Khan Hoffman, hasn’t, Brian Fung, Douglas Farrar, Biden Harris, Harris team’s, ” Farrar, Farrar, “ Trump, Donald Trump, Trump, Steven Cheung, George Soros ”, Mark Cuban, Peter Thiel, Thiel, Arizona Sen, Mark Kelly, Josh Shapiro, Gretchen Whitmer, Gina Raimondo Organizations: New, New York CNN, LinkedIn, Biden, Harris, PAC, CNN, Federal Trade, Democratic, Microsoft, FTC, , Big Oil, Big Tech, Forward PAC, GOP, Republican, Activision Blizzard, Mattress, Trump, US Chamber of Commerce, Arizona Locations: New York, United States, America, Vermont, Massachusetts, Khan . Ohio, Pennsylvania, Michigan
New York CNN —If you’ve got money in the market, you might own a little piece of Trump Media — without even knowing it. Trump Media (DJT), the owner of conservative social media platform Truth Social, announced its addition to the Russell family on Monday. As a result, countless retail investors will now own a piece of Trump Media. These include the $14 billion iShares Russell 3000 ETF (IWV) and the $2.5 billion Vanguard Russell 3000 ETF (VTHR). LinkedIn co-founder Reid Hoffman, a vocal critic of former President Donald Trump, believes Trump Media is really worth just $40 million.
Persons: you’ve, Russell, Donald Trump, doesn’t, Vanguard Russell, , Sam Stovall, Stovall, ” Stovall, Reid Hoffman, ” Hoffman, Aniket Ullal Organizations: New, New York CNN, Trump Media, Trump Media & Technology, Vanguard, CFRA Research, Microsoft, Nvidia, Apple, Trump, , FTSE Russell’s, P, LinkedIn, CNN, & & Locations: New York
Read previewLinkedIn cofounder Reid Hoffman had some choice words for venture capitalist David Sacks after he endorsed Donald Trump earlier this month. "Sadly, rather than originality, Sacks' letter awkwardly regurgitates pro-Trump groupthink." "The voters have experienced four years of President Trump and four years of President Biden," Sacks wrote in his letter. With respect to economic policy, foreign policy, border policy, and legal fairness, Trump performed better. Sacks' support for Trump — and Hoffman's vocal condemnation for it — comes as a growing faction of Silicon Valley elites have voiced their support for the former president post-conviction.
Persons: , Reid Hoffman, David Sacks, Donald Trump, Sacks, Joe Biden's, Biden, Hoffman, Trump, Sacks hasn't Organizations: Service, Business, Trump, Putin, Silicon, Republican
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On the agenda:But first: Why Wall Street is so happy to see the job market slowing down. New data from Vanguard shows a two-tier job market: one divided between a blue-collar boom and a white-collar recession. Also read:AdvertisementiStock; Rebecca Zisser/BIThe portfolio-manager whisperersThe new power figures in hedge funds do not manage money.
Persons: , it's, Brian Rose, It's, Christie Hemm, Jan Sramek, Goldman Sachs, Reid Hoffman, Marc Andreessen, Alyssa Powell, Stefano Spicca, Jenny Chang, Rodriguez, Rebecca Zisser, whisperers, Gates Organizations: Business, Service, Federal Reserve, Fed, UBS Global Wealth Management, Big, Silicon, California, Vanguard, Microsoft, Big Tech Locations: Austrian, Solano County, Napa, Sacramento, California, Silicon Valley, New York City
Megan Hoffman lost 150 pounds and kept it off after being cast on "The Biggest Loser." The best advice for weight loss includes finding a supportive community and non-scale victories. AdvertisementA former competitor on "The Biggest Loser" said she lost 150 pounds and kept it off for years, thanks to five simple weight loss tips. AdvertisementTrust the processAnother common mistake in weight loss is impatience, prompting people to make changes too quickly and leading to cycles of weight loss and regain, known as "yo-yo dieting." Advertisement"Stop looking at the scale and get comfortable with creating the habits," Hoffman said.
Persons: Megan Hoffman, , Hoffman, she's Organizations: Service Locations: California
CNN —A Canadian man who posted conspiracy theories on social media claiming the government was deliberately starting wildfires has pleaded guilty to starting 14 blazes that forced hundreds of people from their homes. Prosecutor Marie-Philippe Charron said one of the fires Paré set forced the evacuation of around 400 people in the town of Chapais, Quebec. Pare does not remember all of the fires he could have started, so we have currently 14 fires, we have 14 counts,” Charron told CNN. They also found multiple social media posts by Paré accusing the Canadian government of purposefully igniting fires to persuade people to believe in climate change. Human activity does play a role in starting wildfires, either deliberately or through accidental actions such as discarding a lit cigarette, but natural factors are also involved.
Persons: Brian Paré, Marie, Philippe Charron, Paré, Mr, Pare, ” Charron, , Charron, Maxime Bernier, Danielle Smith, Ryan Jespersen, , Kira Hoffman, Hoffman, ” Paré Organizations: CNN, Police, , Protection Agency, University of British, Research Locations: Quebec, Chapais, North Dakota, United States, Europe, ” Alberta, University of British Columbia, Canada
And these rising stars of the VC world are at the forefront of the trend, with many adopting various wellness routines. Business Insider asked this year's rising stars to name their best wellness hack that keeps them at the top of their game. Find ways to get movingMany rising stars in VC have a relationship with exercise that goes beyond an obligatory hour at the gym or a forced jog around the block. "It's amazing how taking just 10 minutes out of my day helps set the pace and structure for the rest of the day so well," she told Business Insider. she told Business Insider.
Persons: Base10, Justin Williams, Fiona Huang, Huang, Laura Bock, Amanda Herson, Taylor Brandt, Luci Fonseca, It's, Vivien Ho, VCs, journaling, Ashley Paston, Ahmed Mirza, who's, Amber Atherton, Brandon Hoffman, Tobi Coker, Wellington Management's Javier Grevely, Natalie Borowski, I've Organizations: Business, Seae Ventures, Ventures, Headline, Base10 Investors, Meritech, Sunset Ventures Locations: New York, Eastern, Brooklyn
HonestReporting's Gil Hoffman told Reuters his organisation had not claimed to know that there had been any prior knowledge by the news groups of the Hamas attack. "I was so relieved when all four of the media organisations said they didn't have prior knowledge," Hoffman said in an interview by telephone about the article. "I still very much think that the questions were legitimate and the answers were adequate from the media organisations themselves." Reacting to the HonestReporting article posted on X, the Israeli Foreign Ministry had described the use of the various images by the four news groups as "a serious violation of journalistic ethics." Despite HonestReporting's suggestions that the Palestinian photojournalists had secured their images in coordination with Hamas, he said he was "happy" their pictures had been published.
Persons: Esa Alexander, HonestReporting, HonestReporting's Gil Hoffman, Hoffman, Benjamin Netanyahu's, Danny Danon, photojournalists, Crispian Balmer, Edmund Blair Organizations: Hamas, REUTERS, Rights, Reuters, Associated Press, CNN, The New York Times, Palestinian, Israeli Foreign Ministry, Likud, United Nations, AP, Jerusalem Post, HonestReporting, Thomson Locations: Gaza, Israel, Palestinian, Beirut, Lebanon, Israeli
D-backs cap NLCS comeback, stun Phillies in Game 7
  + stars: | 2023-10-25 | by ( Field Level Media | ) www.reuters.com   time to read: +4 min
October 25 - PHILADELPHIA -- The Arizona Diamondbacks won nine games during a six-week span from early July through mid-August. On Tuesday night, the Diamondbacks won their ninth game of October -- and became one of the most unlikely World Series teams of all-time. The Diamondbacks, who overcame two-games-to-none and three-games-to-two deficits in the NLCS, will visit the American League champion Texas Rangers in Game 1 of the World Series on Friday night. The Phillies, with five players on $100 million deals on their roster, fell one win shy of their second straight NL pennant. The Phillies scored 15 runs in the final five games.
Persons: Corbin Carroll, Carroll, Gabriel Moreno's, Christian Walker, Philadelphia's Alec Bohm, Brandon Pfaadt, Bohm, Bryson Stott's, Emmanuel Rivera, Ranger Suarez, Geraldo Perdomo's, Jeff Hoffman, Moreno, Kyle Schwarber, Joe Mantiply, Ryan Thompson, Perdomo, Jose Alvarado, Marte, Kevin Ginkel, Paul Sewald, Sewald, Jake Cave Organizations: The Arizona Diamondbacks, Diamondbacks, Philadelphia Phillies, National League, American League, Texas Rangers, Phillies, Arizona, New York Mets, Louis Cardinals, The Diamondbacks, San Francisco Giants, Cincinnati Reds, Chicago Cubs, Milwaukee Brewers, Los Angeles Dodgers, Philadelphia, Bank, Thomson Locations: PHILADELPHIA, Arizona, Texas, Philadelphia
She Burned It All Down, to Build the Perfect Dress
  + stars: | 2023-10-18 | by ( Jessica Iredale | ) www.nytimes.com   time to read: +1 min
Until then, Mara Hoffman had been the go-to purveyor of sexy psychedelic prints and bikinis for the Coachella crowd. “I did a strip show, tried everything on and they placed their first order,” Ms. Hoffman said. As time wore on, Mara Hoffman the brand felt increasingly disconnected from Mara Hoffman the woman, on a spiritual and aesthetic level. At one point Ms. Hoffman found herself crying on her couch, telling Ms. Davis that she wanted to close the business. “Burn it to the ground,” Ms. Hoffman said.
Persons: ” Mr, Majeranowski, , they’ve, Hoffman, Mara Hoffman, Patricia Field, Ms, , Davis Organizations: Parsons Locations: New York, Murray
A mysterious company backed by Silicon Valley investors has been purchasing land near San Francisco. They're planning to build a retro city on the 52,000 acres of farmland they bought. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe Silicon Valley investors that got the government's attention by gobbling up $800 million worth of land outside San Francisco say the mystery city they plan on building is, well… kinda retro. Solano County Google Maps"The plans that people put forward will be very inspired by those great old American neighborhoods that someone who was born 100 years ago will recognize," Sramek told KQED.
Persons: , we've, Jan Sramek, Sramek, Goldman Sachs, Marc Andreessen, Laurene Powell Jobs, Michael Moritz of, Reid Hoffman, Flannery, who've, Catherine Moy, Moy, Bill Gates, Elon Musk, Musk, Chap Ambrose, Ambrose, Azmi Haroun Organizations: Service, KQED, The New York Times, Michael Moritz of Sequoia Capital, Flannery Associates, Travis Air Force Base, Solano County Google, Boring Company, SpaceX, Washington Post Locations: Silicon, San Francisco, California, Solano County, Bay, Fairfield, Solano Silicon, Austin , Texas, Bastrop Country
Reid Hoffman dismissed efforts to pause AI development in an interview at CogX Festival. Hoffman compared the development of AI to cars which also posed many risks and dangers at first. Hoffman pointed to other powerful technologies built in the past as an example of why the letter didn't have a logical basis. AdvertisementAdvertisement"When we built the car, we didn't know about safety belts, we didn't know about window washers, we didn't know about the crumple zone," Hoffman told the audience. Experts are divided on their opinions about the rapid development of AI.
Persons: Reid Hoffman, Elon, Hoffman, Elon Musk, Steve Wozniak, Pinterest, Evan Sharp, Emad Mostaque, we'd, Eliezer Yudkowsky Organizations: CogX, Service, Apple, Greylock Partners Locations: Wall, Silicon, London, OpenAI
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Persons: Dow Jones, reid, hoffman
Former PayPal COO Reid Hoffman criticized Elon Musk's behavior during the early days of PayPal. Hoffman told The New Yorker that Musk behaved like someone hiding an STD from their spouse. Hoffman and Musk were both part of the "PayPal Mafia" — early PayPal employees who became big names in tech. In a new interview, former PayPal COO Reid Hoffman criticized Elon Musk's behavior during a merger years ago. Hoffman compared the merger to a marriage and said that Musk's behavior at the time was like someone hiding a sexually transmitted disease from their spouse.
Persons: Reid Hoffman, Elon, Hoffman, Musk, Peter Thiel, we're, Thiel, X Organizations: PayPal, Yorker, New, SpaceX, Twitter
He said Musk "bought what Putin was selling, hook, line, and sinker" regarding the war in Ukraine. Hoffman told The New Yorker Musk "bought what Putin was selling, hook, line, and sinker," regarding Russian President Vladimir Putin's account of the war in Ukraine. Putin wants peace—we should be negotiating peace with Putin,'" Hoffman told The New Yorker, referencing Musk's comments at a September 2022 conference in Aspen. Obviously, we are pro Ukraine," Musk tweeted hours after his poll. "Elon tends to have a 'I must build it with my own hands'" approach, Hoffman told CNBC in April.
Persons: Reid Hoffman, Elon Musk, Putin, Musk, Hoffman, Vladimir Putin's, he'd, Vladimir, Steven Butow, Starlink, we'll, Colin Kahl, Elon —, , Elon Organizations: Paypal Mafia, New, PayPal, Kremlin, SpaceX, Politico, Pentagon, CNN, Defense, Policy, New Yorker, Milken, CNBC, Tesla Locations: Ukraine, Aspen ., Russia, Crimea, Ukrainian, New
OpenAI CEO Sam Altman said he had to "reorient a lot of my life and time" after Elon Musk left the company. Elon Musk's 2018 departure from OpenAI — the company behind ChatGPT — rocked the artificial intelligence organization, according to a sweeping new report from The New Yorker. It is estimated that Musk poured between $50 million to $100 million of his own funds into OpenAI, The New Yorker reported. In 2018, Musk left the company's board. When he stepped down, Musk also backed out of his commitment to continue funding OpenAI, a source told The New Yorker, which left Altman scrambling.
Persons: Sam Altman, Elon Musk, Musk, Musk's, Elon Musk's, OpenAI, ChatGPT —, Altman, Reid Hoffman, Peter Thiel, Tesla, Semafor, Hoffman, ChatGPT, Andreessen Horowitz, ChatGPT's, company's Organizations: Elon, Morning, Yorker, New Yorker, Microsoft, Sequoia, K2 Global Locations: OpenAI, New Yorker
MLB roundup: Royals erase 6-run deficit, stun Angels
  + stars: | 2023-06-18 | by ( ) www.reuters.com   time to read: +10 min
Bobby Witt Jr. led Kansas City's comeback with two-run hits in both the seventh and eighth innings as the Royals plated three in each frame to tie the game. Aroldis Chapman (2-2) earned the win, striking out three in the ninth as the Royals snapped a 10-game losing streak. Snell (3-6) allowed two hits and three walks while equaling his season high with 12 strikeouts. He worked six innings and allowed one run on four hits, with no walks and four strikeouts. Christian Walker added a two-run homer and Lourdes Gurriel Jr. hit a solo shot for the Diamondbacks, who have won two straight games following a three-game slide.
Persons: Samad Taylor, Salvador Perez, Taylor, Scott Sewell, Read, Samad Taylor's, Bobby Witt Jr, Brandon Drury, Shohei Ohtani, Aroldis Chapman, Zach Remillard, Elvis Andrus, Ty France snared Andrus, grounder, Jake Burger, Andrew Benintendi, Andrus, Tayler Saucedo, Paul Sewald, Remillard, J.P, Crawford, Blake Snell, Josh Hader, LaMonte Wade Jr, Davis, Brandon Crawford, Alex Wood, Bobby Miller, Miller, Alex Kirilloff, Ryan Jeffers, Brent Headrick, Joey Wentz, Zack Short, Justin Steele, Nico Hoerner, Mike Tauchman's, Steele, Josh Jung, Dane Dunning, Jonah Heim, Corey Seager, Dunning, Trevor Richards, Daulton Varsho, Joey Wendle, Bryan De La Cruz, Luis Garcia, Jeimer, Chad Kuhl, Kyle Schwarber, Cristian Pache, Andrew Vasquez, Jeff Hoffman, Ken Waldichuk, Wade Miley, Joey Wiemer, Miley, Peter Strzelecki, Hoby Milner, Elvis Peguero, Trevor Megill, Blake Perkins, Rowdy Tellez, Carlos Santana, Matt Olson, Bryce Elder, Ryan McMahon, Albies, Elder, Connor Seabold, Mike Moustakas, Will Benson, Jonathan India slugged, Hunter Greene, Yainer Diaz, Jose Altuve, Altuve, Paul Goldschmidt, Louis, Brendan Donovan, Jordan Walker, Dylan Carlson, Donovan, Brandon Nimmo, Luis Guillorme, Brett Baty, Jake McCarthy, Corbin Carroll, Christian Walker, Lourdes Gurriel Jr, Andres Gimenez, Steven Kwan, Amed Rosario Organizations: Kansas City Royals, Los Angeles Angels, Kauffman, Royals, Kansas, Angels, White Sox, Mariners, Chicago, Seattle, nab, Padres, Rays, San Diego, Tampa Bay, Giants, Dodgers, Los, longtime National League West, Los Angeles, Tigers, Minnesota, Twins, Detroit, Cubs, Orioles, Baltimore, Rangers, Blue Jays, Texas, Toronto, Marlins, Miami, National League East, Washington, Phillies, Athletics, Philadelphia, Oakland, Brewers, Pirates, Milwaukee, Pittsburgh, Braves, Rockies, Atlanta, Colorado ., Reds, Astros, Houston, The Reds, Cardinals, Mets, Diamondbacks, Cleveland, Guardians, Thomson Locations: Kansas City , Missouri, USA, Snell, Tampa, Francisco, Los Angeles, Minneapolis, Arlington , Texas, Colorado, Cincinnati, New York, Arizona, Phoenix
Reid Hoffman took a dig at Elon Musk over his stance on AI in a Milken Institute talk this week. Musk has signed a letter backing an AI development pause, but also wants to make a ChatGPT rival. Hoffman said, "Elon, while signing that letter, is trying to hire a whole team and stand up an AI effort." Elon Musk has some incongruous views on AI development, and LinkedIn cofounder Reid Hoffman pointed that out in a recent talk. On CNBC's "Squawk Box" last month, Hoffman said he disliked the idea of pressing pause on AI and criticized Musk over his stance on AI development.
In an interview with The Generalist, Hoffman said he's been most influenced by Buddha. Hoffman also said in the interview that Aristotle initially inspired him to study philosophy. Hoffman, who cofounded LinkedIn, announced he was stepping down from the board of OpenAI last month. Hoffman holds a master's degree in philosophy from Oxford and planned to go into academia at one point. Hoffman, who calls himself an "accidental technologist," credits his philosophical instincts as the reason he is in the industry.
"I never saw myself as a speaker, let alone a motivational speaker," Leonard tells me while his assistant irons his jeans. 'When I ramble," Hunter told me, "hit me in the leg!" Every plane had been grounded, including the one stuck on the tarmac with an increasingly inebriated Hunter Thompson trapped inside. But by far the most all-consuming task was booking gigs for Hunter Thompson. Just before a debate with G. Gordon Liddy at Brown University, Hunter demanded that Betsy Berg, whom I now worked alongside at GTN, score him some crystal meth.
Trump's lawyers asked to delay the E. Jean Carroll battery and defamation trial a month on Thursday. It is unclear how much of Reid's money granted through his nonprofit was used by Kaplan Hecker & Fink for the Carroll case. Seth Wenig/APOn Tuesday, Trump's lawyers asked the judge for a one-month delay to allow the "media frenzy" around his arrest to die down. Judge Kaplan has also complained about numerous attempts to delay the case in the past. But that litigation has been in limbo while appeals courts weigh in on whether Trump can even be sued in that case.
In an interview with The Generalist, Hoffman said he's been most influenced by Buddha. Hoffman also said in the interview that Aristotle initially inspired him to study philosophy. Hoffman, who cofounded LinkedIn, announced he was stepping down from the board of OpenAI last month. Hoffman holds a master's in philosophy from Oxford and even planned to go into academia at one point. Hoffman, who calls himself an "accidental technologist," credits his philosophical instincts as the reason he is in the industry.
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