Jeremy Weisz
That’s amazing. Yeah. And, you know, on campus, when that was going on, you were involved in things that were going on. What were some things that you saw or did during that time period?
Jonathan Medved
There’s some of them I can’t Yeah, I’d like to maybe over drinks certainly in about a podcast. I mean, look, I remember in 1975 we got word that Yasser Arafat’s that time was going to speak at the UN and his famous speech where he came with the pistol in his belt. And he was supposedly going to talk about peace, but he was talking about Zionism is racism. And it was just a, you know, and we got word in the morning, that the Arab Students Association, we’re going to have a big rally in honor of that. And then the Jews couldn’t organize where there was like no time. So I went to my bed, instead of going crawling back into bed, which you probably would have liked to do, grab the sheet, cut a hole in it, got some white face, put it all over my face, and then took a bottle of ketchup, and poured it all over myself. And I made a sound sign which said on my LOTE, which was the name of the Israeli school where PLO terrorists had gone in, and it butchered like 30 kids. And so I put this around my neck and I walked to campus. Now there was, you know, in Berkeley in those days, we called it buzzer Berkeley every day was worse than Halloween. No one actually even looked at me twice, because I was just another really,
Jeremy Weisz
really
Jonathan Medved
well, maybe. That’s usually when they realized there was like a trail of BS following, because. But in any event, I just walked up to the famous Sproul Plaza, and there was this quite large demonstration. And I just proceeded to walk up to the podium and stood there. And a bunch of people sort of then began to take notice of me and the organizer said, You can’t stand here. This is a demonstration. And I said, this is, you know, Sproul Plaza and free speech and I’m going to stand here. And so they tried to get the campus cops to move me. They tried to threaten me. It looked rather but ultimately through the entire protest. They did not manage to move me at all. Have the TV, all the pictures show the speaker next to this sort of white ghost with the blood in the mild side. And that caught the eye of some organizers from what’s called the Jewish Agency, which was the department, you know, really, it’s sort of a quasi governmental organization who then sent me an invitation to go be an itinerant campus organizer. They made me an offer I could not refuse, which is leave school, we’ll give you a car, we’ll give you a 16 millimeter film projectors is obviously pretty, you know, videotape will give you all the propaganda you can demonstrate or you know, distribute. And then you can drive around western states campuses and organize, you know, students for Israel, it will pay you 600 bucks a month. And I said, Oh, already, I’m in. Okay, that was like my dream job. And that was really the first full time job I ever well.
Jeremy Weisz
Jon talk about chutzpah, right. I mean, were you worried about your safety? I mean, you’re one person. Among many people at that point? Look,
Jonathan Medved
I’ve done a lot of crazy things. I’m not, you know, people ask you went, you know, when you live in Israel, you’re afraid for your safety? And the answer is absolutely not. Israel is a incredibly safe and wonderful sort of a little bit reminds me of my childhood in the 50s. It’s great for, you know, kids or women to take buses late at night. And it’s a very, I just don’t, I don’t think about those things. Okay, I’m worried a little bit about COVID, believe it or not, because I’m, you know, approaching that age of risk groups, and I’ve got a, you know, clearly carrying a little more weight than I should and things like that. But I typically don’t have time to worry about that stuff. I just want to go out and have fun and do things. And I don’t I’m not stupid about risk. But I, you know, sort of a risk accepting career. Right. And, in general, Israelis attitudes towards risk are a little bit on the the risk acceptance side of the spectrum.
Jeremy Weisz
Yeah, I guess that translates into risk in investing in startups. Right. I mean,
Jonathan Medved
investing and starting them. And I mean, the bottom line is, it goes, I mean, look, to be Jewish, has often meant risk and risk acceptance, you know, even before the State of Israel. It’s been about dreams about seeing things that other people don’t see about being a minority that somehow chaste. And a lot of this, believe it or not, has much to do with the sort of secret sauce, whether you call it chutzpah or you know, or something else that drives Israeli entrepreneurial, both activity as well as investors. And it’s just part of the culture, right? It’s, it’s like, and what happens is you get this group thing going, where everybody sort of like, That’s normal. You know, there’s a friend of mine movie editor who ran Intel here. And he famously says, Well, the only way to really get an Israeli r&d team to you know, get their butts in gear and get something done, is to tell them that what they’re trying to do is impossible. Hmm, okay. You know, when you say that, that’s impossible. You can’t do that. That’s how you get Israelis to go. Okay, you know, but that’s where you go back to Abraham. Right? You know, he said, I see God, but he’s not a physical form. Right? He was the first immigrant really very famous immigrant who came and there was no Welcome Wagon there. They, you know, saddam, they were not particularly welcoming to, you know, newcomers. And what did he start to do? He started to make friends and influence people who became wealthy, our tradition has no sort of sanctification of poverty. Okay, in other words, Jews have have always been, you know, people who over achieved, okay, and everyone asks about that. And the fact that Israel today is a startup nation with a tremendous vibrant economy. That shouldn’t surprise anybody. If we were slouches. That would be the surprise. Okay. I mean, you know, and, and, and, look, there’s so much about Jews in the discourse at the moment. But I think that, you know, it helps to have sort of clarity. Okay, yes, there are way way more Jews in the Forbes 400 than our population accounts for. But guess what, 30% of the world’s Nobel prizes in sciences are awarded over the last hundred years to Jews. Okay, the Jewish population Of The World is about one 10th of a percent. Okay, it’s it’s it’s non existence. So, you know, what is that about? Why are there so many Jewish playwrights? Why are there so many Jewish actors and our enemies? unfortunately still, you know, some around May they, you know, meet, you know, coming of sense to their their madness. They think it’s because of a conspiracy, the fact that Jews don’t play fair that anybody who knows Jews knows how disorganized how the idea of a Jewish conspiracy juice keeping their mouth shut. Okay, give me a break, it can’t happen. Okay, so the bottom line is that Israel is this just in sometimes infuriating, exhilarating, exciting, fun, different kind of place. And when I came here as a kid, I fell hard for it. And I’ve only grown, you know, in terms of my love and appreciation, and sometimes the curating nature of when we screw things up to I mean, right now, we’re way ahead of the curve, right? We were the first country that beat the virus. And then it came roaring back because we opened everything up. And now our, you know, infection rate is one of the highest in the world. Turns out that our mortality rate is, I think, the lowest or one of the lowest in the world, people don’t die here we’ve had about less than 600 deaths. But a lot of us are getting infected and infuriates the hell out of me, because we shouldn’t we should have been smarter than that.
Jeremy Weisz
So Jon, why do you think there’s that disproportion amount of startups, Nobel Prize winners funding, all that?
Jonathan Medved
I think it’s attitudes towards risk towards education towards the future. Okay. In other words, we’re a future oriented. The fact that we’ve survived thousands of years, the fact that we’re back here, in my grandkids can dig in our backyard and find a pottery shard that has an ancient language which they can read, because it’s the same language we’ve been speaking and reading for thousands of years. We’re the only case of an indigenous people who have come home. Okay, after being expelled from their land, you know, we’re trying to make it work with our neighbors. Okay. And when you think about the fact that Israel today is like almost 10 million people, that we are the world’s second most vibrant startup location after Silicon Valley, really the world’s second Silicon Valley this year, there will be about $10 billion invested in Israeli startups. That is an insane number last year was 8 billion and change. Okay, we already did in the first seven months over six. Okay, we’re going up in a covid year, my business at OurCrowd, which provides a way for investors outside of Israel to invest in Israeli startups or startups around the world. We’re having an up here, despite the virus. So what’s that about? I mean, and what that’s about, in my opinion, is this sort of unstoppable force that says, you know, what, the world has issues, we got to fix them, whether you believe it’s called tikkun olam, which means fixing the world, or it’s just like, I’ve got to do something. This is a fairly energetic place, okay. And there are a lot of people who are dreamers. But now there’s a lot of people with money, who will back these dreamers and help them. And it’s a great job to be a venture capitalist to be able to be an enabler of people realizing their dreams.
Jeremy Weisz
Talk about that, you know, you talk about technologies and equalizer and you traveling up countries where you probably couldn’t get a passport and going to those countries because of technology.
Jonathan Medved
I’ve got two passports, right? My actually my grandkids have four. So they might, you know, even travel But no, I’ve both I retain my American ma Israeli passport. So we can pretty much get anywhere in the world. Look, people today are fascinated by innovation, as you know, you’re doing you know, this podcast with innovators and leaders. And it’s it’s not just culturally sort of hip and and and woke to be you know, building you know, cool startups. But really, I think the the cutting edge now is what I call the double bottom line where people are making money and doing good at the same time. Whether you’re investing in a startup that’s tackling the COVID vaccine, or you’re investing in a startup, which is making old people not lonely, or you’re investing in a startup, which is going to help farmers, grow more food and feed the world are investing in a startup, which is giving, you know, Indian farmers have the ability to get weather prediction for the first time, there’s no question that that stuff is necessary for making it a more complete and better place for all of us to live. On the other hand, these people will get rich, and their investors will make a good return. And that’s a great thing too, because I don’t think that people who are successful are necessarily predators or jerks, or evil people, I think that somehow, money making has gotten a bad rap. Okay, and the the issue is more about democratization of access, not trying to make everybody pour together. But trying to make everybody have the chance to get rich together, some people don’t want to, okay, some people would rather, you know, focus on other things, that’s fine. Some people don’t have the skills. And that’s unfortunate, because you have to really figure out a way to provide people with the education and the network. But in general, the thing that drives me is building a platform, which allows this playing field to be leveled, so that entrepreneurs around the world can get the cash, they need to go build a company, and then investors around the world can invest in startups the way they would, you know, call their broker and buy a stock.
Jeremy Weisz
You know, if someone checks out OurCrowd, you’ve vetted probably over 10,000 companies, right? portfolio companies 200. So what do you look at? When you are investing in a company?
Jonathan Medved
I look at the people. And, you know, it really depends on the stage. But the earlier the stage, the more you always look at people, because this is a people business. And when you succeed, you say that person was an unbelievable person. Okay? Are they built a great team? When they fail, you say he’s a jerk. Notice, I use the male gender, I mean, either women jerks too, but that more men? The I don’t know if that’s politically correct today, but
Jeremy Weisz
I don’t know how your jerk has ever been considered not politically correct. But
Jonathan Medved
the. So you know, you look for people who have a fire in their eyes, and maybe in their belly, I’ve got a considerable belly, the look for people who have a good network and a track record, who are ethical and have integrity, who listen, as well as can, you know, tell a story, because to a lot, you know, and that’s where you start. Now, if it’s a later stage company, they’ve actually got a product, you look for traction, you look for, you know, are they selling this effectively, who are their customers or their, me, I was just literally about an hour ago, hearing a pitch from one of our companies, that’s just doing spectacularly. And you see this, you know, hockey stick, where he was showing his revenue, and I’m saying, Ah, thank God, you look at this thing. It’s just like going straight up. And it’s one of these companies that’s being helped by the crisis. There are lots of companies. And this is, you know, one of the things that really isn’t getting enough coverage that were the startups because of the rapid transformation, you know, to digital, everything are really getting tailwind rather than headwinds. Now, everybody understands that in public stocks, like, Zoom, or Amazon, you know, that okay, sure that, you know, this, these are part of the Zeitgeist. But there are a lot of private pandemic plays, that Luckily, you know, we have many who are investments before the crisis and are now seeing the benefit. And then we have a bunch that we’ve added and there are a bunch that have pivoted, you know, into the crisis, right, who have taken their business and, and said, okay, but wait a minute, we can do this too. And it’s not about all you know, by the way, doing medical stuff, but also just relating to the new normal. So when you look at you know, the changes that we’re all going through, work from home, for example, this is a this is not a temporary blip on our cultural or civilizational radar, the new normal a Yeah, it is totally the new normal. And whether it’s Twitter or Facebook saying, you know, don’t bother coming back. Okay, we’re happy, you know, Intel today making another statement about you know, working from home And so any company that enables this and by the way, so, you know, yes, we have Zoom, great, but we need a whole bunch of other tools to make this work. Okay, we need to improve cybersecurity, you know, to protect our remote access to the sort of crown jewels of our of our companies. There’s tremendous amounts of stuff needed to make the new normal work. And that we’re interested in, we’re also interested, you know, in healthcare, and in particular, the telemedicine, we had a recent online conference where the CEO of Johns Hopkins Health got on, and he said that, in the near future, 30% of all doctor visits will move to telemedicine. Wow. Okay, and I think by the way, he’s under estimating, I think it’ll be much higher. But when you realize what a monstrous opportunity, I mean, because the telemedicine tools and frameworks we have today, we have several companies working on this are still in their infancy. Right, we haven’t we haven’t even begun to build that channel out. You know, we have a company doing, you know, remittances, you know, for foreign workers who are sending money home, and are now a challenger bank, because they provide a bank, it turns out that they were acquiring lots of their customers from like, partnerships with pharmacies and physical locations, and only 20% were digital customers. Now all of a sudden, 60 or 70% are digital customers. So the, you know, the changes here are fundamental. And once digital ground is taken, it’s never seated. Right? In other words, you never going to have a situation where these digital companies who took market share against, you know, old fashioned retail, you say, Okay, we’ll give it back to you. That that’s gone. We’re not going back again, there is no going home. Okay, and people who have this sort of nostalgic view of Okay, it will, you know, this will end, I don’t know, if it’s six months, or three months, or a year, we’re going back to the world before this crisis. Forget about it, as they say, in Queens, it’s not going to happen. Right? You know, it’s sort of depressing on a certain level, but grow up and move forward, because life is about one constant, which is everything changes.
Jeremy Weisz
Jon, you mentioned companies, you know, I had the founder of CLEW, Gal, Salomon, on talking about their technology. And I’m wondering what company should people look out for that have been they’re involved in OurCrowd? What are some of the companies and what do they do? My God?
Jonathan Medved
Do we have how many hours a week, um, look, just this last week, and I don’t know when this will air but one of our companies, Zebra Medical, who uses AI to analyze and detect diseases through just the most amazing interpretation of radiological images, right, they use the AI with a bunch of data they’ve collected to help the radiologist and the clinician to understand things. So they just announced their six clearance from the FDA for mammography or for detecting breast cancer. Wow. Now, these guys, you know, are just on a roll. Unbelievable. Team, brilliant people already, you know, major deals major investors. And that’s a very interesting company. We have a company called Intuition Robotics who make the something called LEQ, which is an elder care robot, that 90 year olds can talk in a stream of consciousness and an understands them. Okay, try that with Siri. But, you know, they are obviously having a huge amount going on. Last week, we announced the $71 million round of funding for our company Site Diagnostics, who are making a to drop, complete blood count test, which might remind you of that other company that proposed to do that and didn’t succeed, except that this has been cleared by the FDA. And $71 million of very smart money just was raised and, you know, bring it more aggressively to market and they’re actually using it to treat COVID patients in quarantine, and all kinds of great things like that. We have so many companies in the food area were investors in Ripple who were doing, you know, plant based, I’ve had Ripple Nope.
Jeremy Weisz
Oh yeah, delicious product I went to a ice cream store that would have A whole plant based menu made from Ripple.
Jonathan Medved
So Ripple is big deal. And we were very happy investors in something called Beyond Meat, which was the best IPO of last year. We had a really great IPO this year in a company called Lemonade, which is not a food tech, but an insurance company that went public and now trades at over a $3 billion market cap. We, you know, every, every year, we’re doing about 100 different deals on our credit. And they are about 40 of them are new deals, new companies that we’re investing in, we’re investing now in a company. And by the way, only about 55% of our companies are in Israel, and about 45% are outside of Israel. And we’re doing a big chunk in the US. So we’re investing in a company called Tovala right now, which interview though, I interviewed founder, so yeah, David is believable. CEO out of Chicago, and his sales are going through the roof. And you know, he uses this Smart Oven which basically, you know, scans a barcode automatically cooks this beautiful food from, you know, essentially raw ingredients to making it fresh, delicious, healthy meals. And, and that’s also been helped by that by the crisis. So, you know, we have food, we have cyber security, you know, a wonderful company called Six Guild and we’re helping companies protect themselves against threats in the dark web. Companies like Bio Catch which Bain Capital just let 140 $5 million round, you know, to expand that they can understand who you are by how you hold a phone. Look, we have naturally now 220 portfolio companies. We’ve invested a billion and a half in, you know, funding and funding commitments to our our 220 companies and 22 different funds. We just launched a pandemic Innovation Fund, which is a new fund that’s focused on essentially both companies that are benefiting from the new normal, as well as companies that are working on you know, therapeutics and vaccines. We have the the leading oral vaccine candidate company called MigVax, where we lead a $12 million round. It is amazing stuff. We believe that just like sock got to the vaccine for polio first, but Sabin won because he had the oral vaccine. We’re big believers in oral vaccines. And we’re counting on this group who had really, you know, perfected their technology on chickens. They started by fighting Coronavirus for chickens, believe it or not, and then they transitioned and pivoted into the human Coronavirus,
Jeremy Weisz
Jon, who, from an investor’s standpoint be involved with OurCrowd. Like if someone wants to
Jonathan Medved
get involved as an accredited investor, you know, basically in America, you have to have either a million dollars of net assets outside of their primary dwelling that you can prove or annual income of $200,000 plus. Now, it turns out that, according to studies are about 14 million households in America who meet that criteria, so that’s a big slug of people. And of course, we take people from all over the world. So we estimate that we’re dealing with about 100 million, you know, arguably wealthy people, but you know, people who start with a million or $2 million up to, you know, billionaires who have billions of dollars. And what’s cool about it is that we’re for the first time giving these people unfettered access to a bunch of really interesting startups, not all of them succeed. Obviously, we’ve had 20 failures that some have been spectacular and unfortunate, but we’ve had 40 exits, of which the majority of those have been very good ones, including, you know, the companies I mentioned, like Beyond meat or Lemonade, or companies like rewalk that went public and others. And
Jeremy Weisz
what about so when I was talking to Yossi he said his biggest Miss was Waze. And I’m wondering, from your standpoint, what you’ve
Jonathan Medved
seen, my biggest Miss was Yossi’s company, Mirabilis back in the day really even even passed out little bumper stickers that said in Hebrew Gama Nilo, he got the bum rabbits. There were so many people that which meant, I too, did not invest in because he went around to all these guys and I said, you’re crazy, you don’t have any money. There’s no business model. And what the hell back in those days you didn’t need it, he sold it to, you know, a wall for 400 million. So, no, look, I’ve had a bunch of misses you have misses all the time. Okay, my biggest mistake, in reality as a small company called Salesforce i’m friendly with Marc Benioff, he was going to take me as an angel investor, and he said, I’ll hold, you know, a good chunk of this equity. And I asked him what his valuation was on the seed round. And he told me, and I said, You’re crazy. This is the same, you know, I know I love you, Marc. But this is not make sense, economically. And Boy, was I wrong.
Jeremy Weisz
Um, Jon, I want to talk about your dad’s influence on you. And there was a point you, your dad took you to a meeting. And what someone said to you that maybe I don’t know if that changed the course of what you’re doing or not. But talking about that,
Jonathan Medved
it did. So I know. You can see over my shoulder, there’s that guy standing next to a plane. That’s my father. He wasn’t a fighter pilot. But he was a scientist astronaut that a program back in the 60s in the 70s in the states to go recruit scientists to become astronauts because they wanted them to both be able to go to space and to do experimentation. My dad was that kind of a guy. And after shortly after I came to Israel to live. And I was doing a bunch of itinerant organizing and tour guiding and thinking of going to get an advanced history degree, you know, a bunch of things. My father shows up with a little startup, which he had started in our basement in our house with six people doing something called fiber optic communications. And this was 1982. So it was like, literally just a couple years after At&t had cut over their first fiber link. And he said, Look, I want to write this whole trip to Israel, which was essentially a trip to see how I was doing off. So well, you know, you accompany me to a meeting up at this military plant in the north of Israel called Raphael north of Haifa. And you’ll translate. So I said, Dad, sure. I’ll go up there. It’ll be fun day. You didn’t need any translation. These guys spoke a lot better English than my Hebrew. And, but I was bored to tears because they were talking about fiber optics and harmonic distortion and signal to noise ratios. And, you know, whether it would work in step index rated index fibers, and I had no clue because I had never studied physics or optics or anything close at the cow. I’m not sure I studied that much at cow, frankly, a lot of fun. But in any event, at the end of this thing, one of these guys turns to me and says okay, Medved, Jr. What are you doing? And I told him, and he looked at me and said, what a complete waste in Hebrew. So my father wouldn’t hear it. I wouldn’t be embarrassed. And I said, you know, mopey, tone, which is WTF in Hebrew. Okay. Talking about my life is a waste to me, why aren’t we dancing? The horror here, you’re saying welcome home, brother. He says you don’t get it. You know, we don’t need more guys like you. We need guys like your dad, we need people who are going to build companies with six people, and cutting edge technology. And he made this sort of two minute pitch about startup nation before it really had existed. And so on the trip back to Jerusalem, I sat with my father and I said that what are you doing exactly as well, for you to understand this son? It starts with ohms law. What did it give me? My father was a professor, you wanted to give me a lecture. By the end of the week that he was with me, he had agreed to give me $100 a month as a stipend, which by the way, covered about two thirds of my rent, which was a big deal. And he said keep in touch with these guys that rough out look for some more customers. And if you like this, maybe you can join me in the business. I liked it. I joined in the business. I was his first fundraiser and raised $600,000 in a my first fundraising. I liked raising money and make a long story short, we built this fiber optic company together called MERET and sold it to Amoco The Big Oil Company about eight years later.
Jeremy Weisz
MERET Optical Yeah, yeah. Wow. Yeah, um, I know we have a little bit of time left but there’s so you know, from merit optical Israel see partners ringgo ourcrowd. What? No story sticks out among, I guess why did you start ourcrowd.
Jonathan Medved
So, you know, I’ve been, I was a venture capitalist for 1112 years running one of the sort of premier funds in Israel, a lot of our people went on to go create even bigger funds. were sort of a little bit of a mafia, Israel seed was a great experience. I’ve built several startups, took them public or sold them. Then an angel investor. And after my last adventure, which was this company called Vringo, which was doing video sharing on apps before even the iPhone was launched. We started working on the N70, with Symbian and got that public got it merged, made money, my investors made money. And I then went on a speaking tour. And one of the things I like to do is to talk about Israel and the technology. And I went around to all these communities, not just in America and Europe, but also in Asia. And people would come up to me afterwards and say, Okay, I mean, how do I write you a check? And I said, No, you don’t, I used to have a venture fund. And we’re not raising money now. No, no, no, I want to invest in Israeli startups. And they said, Can I call my broker at Goldman or Morgan, I said, No. And then all of a sudden, I went back, and I took all these business cards, and I looked at them, and I’d stuffed them in some shoe boxes, and they’re starting to build a little wall. And I said, Wait a minute, maybe I can, you know, use this thing called crowdfunding, where you know, me, the team will go find deals like I’ve done before, as an angel and a venture capitalist, we’ll put them up online, and then let people have a go at it. And I talked to a bunch of my friends, especially lawyers, about the regulatory and most of them said, Look, this is a stupid idea. And if you do it, you’re going to go to jail, and I’ll bring you kosher food delivered. I said, No, I don’t think so I think it’s actually illegal. When you look at the way that we were going to do it with, you know, 506, B, and private. And we found a way to make this work from a regulatory standpoint. And we got started, and we haven’t looked back. Now we’re a billion and a half into it with, you know, good track record. And the idea was to first connect people to Israel, which was always interesting to me. But beyond that, just let people have a piece of this Bonanza called startup investing, because in the old days, if you had invested in Microsoft, or Apple or Oracle, back when they went public, and you held them, you make 1000 times your money. But these guys went public early. But today, people don’t go public early, they build unicorns, they’re, you know, 500 plus of them around the world. And so the public gets invited in after the party is pretty much over. Okay, sometimes they’ll go up, you know, Beyond Meats, been a great performer in the public market. It’s, you know, trading even today at about five or six times, you know, what it went public at, but it ate 1000 times. And the people who really made money, there were the people who got in early. And so it turns out that even wealthy people with millions of dollars, can’t get access to these deals, right venture capital as traditionally practiced, you have to come with a five or $10 million check. As a limited partner, you probably should be picking two or three or four managers minimum to get to invest like 20 or $30 million. And you shouldn’t have more than three or 4% of your assets in this rather risky asset class, even though Yale University and their endowment has 20%. But most people should limit themselves three, four or 5%. That means you got to be a billionaire. So what is a poor schmuck who’s got like $5 million? Do? Okay, who wants to invest in startups? He doesn’t live in Silicon Valley. And, you know, can’t talk to his parents on carpool about about cool startups. And the answer is they you can suck on the wind. Right. And, and that’s why we started OurCrowd, and it’s worked. And I think that, you know, it’s hard work because we’re managing to maintain venture best practices, we do diligence on every deal that we look at, we invest our own capital, we manage the investments, right? We put people on boards, you know, we are responsible stewards, okay, of capital, we take this very seriously. And, but we make it available so individuals can actually pick these companies we spoke about and invest minimum starting at $10,000. And they can also they don’t have to pick companies but they want to have managed funds, they can do that from $50,000. So it’s not 5 million is a minimum, but 50.
Jeremy Weisz
Jon, so much to talk about, but I want to point people towards OurCrowd.com. Check it out. And Jon has been an absolute pleasure. Thank you so much for sharing your journey.
Jonathan Medved
I really enjoyed this and I look forward to coming back and spending more time and remembering fun times in the past. Hopefully talking a little bit more about the future.
Jeremy Weisz
Thank you
