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December 2015 and you wired the money January 2016 and it's been six years seven years since then so you know curious we Iden about 20 employees now we are close to 900 over 900 F time employees what has been your experience like well uh first of all um thanks for including me and uh it's really great to be here and it's very excited I'm very excited to finally get to um talk to all of you guys um I want to tell a quick story actually beforehand Greg which was how when we first met uh the introduction that was sent to me was something along the lines of this is one of the most impressive people you're going to meet and I thought okay so I took the meeting with Greg and this is for the rest of you guys and I didn't let him leave my office uh and I met him kind of in the morning and by the afternoon he had met a few of the partners and we had an impromptu uh partner meeting and uh I gave you a term sheet that day uh and then I think I tried to make you sign it before you left the office but you were smart enough to at least take 24 hours uh so how has my experience been um I would say it's been quite good I think the problem when you take a US investor and you have them invest in Emerging Markets um no matter the Emerging Market is that you're taking on all these added layers of risk and the real um the real difficulty that a lot of us investors have is being patient through the face of those risks so let me just explain that for a few seconds typically when you invest in the US um you're really only taking one kind of risk especially at the early stage which is can this person lead a group of individuals to find product Market Market fit now along the way they may find a second layer of challenge which is really a go to market challenge now that this person has a clever product how can this team figure out how to sell it in a very effective way so every time you invest in the United States you're mostly isolating down to those two very specific kinds of problems the thing when you invest in the Emerging Markets anywhere in the world is now you have these additional layers of risk you have FX risk you have geopolitical risk you have just the general um Banking and Central Bank posture and infrastructure you have that country's relationship with the IMF and the World Bank um you have all of the ups and downs of the of of how politically um the winds can change and there are very large degrees of magnitude in developing markets that just aren't possible because of how sclerotic the develop Market markets are so you know when I invested I kind of said to myself buckle up because as well as the team will do there are going to be these changes in the business that are absolutely not in control of them Pharma that we're going to have to be patient because you will have to be patient in working through them um and by and large that's basically what's happened so I think you guys have been executing pretty phenomenally and I think you've been very clever in trying to figure out different iterations of the business definitely where we started and where we are now are two different companies um and so I think you've been very adaptive but at the same time I think you've had to face some pretty difficult headwinds which is the nature of these Frontier markets which are you know in some countries these governments are completely inept in other places the value chain is completely corrupt um in other places the economic substrate is really fragile and how you build around that is very complicated so um I got to give you guys a lot of credit CU I think it has
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