That's really fascinating, thanks. You've given me lots to think about.

I spend a lot of time thinking about the different structures associated with patronage. I remember that at one point David Bowie released a public offering of shares in his future value. If memory serves, the outcomes were mediocre but not a loss.

I actually think that this is kind of awesome. To me, the key detail is modest returns. Every asset class is volatile but our society has taken a really hard turn towards celebrating rent seeking. If someone has capital and can be convinced to give someone the financial leverage that they need to, for example, buy a truck instead of becoming the employee of a guy who bought a fleet of trucks with someone else's money, that's a formula for raising a lot of people up through middle class ranks.

Now, some people would take that advance and go to Vegas and do the least responsible thing, for sure. But I'm into giving people the benefit of doubt when possible.

I don't think we really disagree so much as I'm holding optimism that there are still big ideas and techniques that we haven't thought of, yet. I am guided by a confidence that we are more likely to succeed when we don't assume that things need to work in a certain way.