Jeremy Weisz 5:22
So I love Tony Robbins stuff, but Oh, whatever you love him, you hate them, whatever it is, I used to listen to the audio cassette tapes in my car. And he’s got great stuff on you know, personal power. And also, he’s got PIP not everyone knows that. But he’s got some really rock star stuff on health related learnings and materials also. And when you’re talking to Tony Robbins, or Tony Robbins group, how does that conversation go? How long did they go? Okay. Yeah, do you have five minutes? Like, how long do they How is that structured? Typically, when you’re talking to them, and how many conversations until they’re like, okay, yeah, this sounds like the company we want to work with.
Yadin Shemmer 6:06
There. So Jeremy, there is no real structure to any of these conversations, whether it’s with a professional investor, whether it’s with someone like uh, you know, a Nick Denissen or Tony, these things aren’t formally structured, you know how it is? It’s, it’s whether or not you’re interested in something? And if you are you make time, right, so you start the conversation you want to get to the point quick, is my that’s been my philosophy is don’t beat around the bush, really get to the point again, what are you doing, why it matters, what the vision is, How big can it be? And if someone’s interested, they make the time and they dig in?
Jeremy Weisz 6:37
So what do you tell them? Because this goes into the next question, which is like, what makes health and wellness really unique? What makes makes you know, what you do unique?
Yadin Shemmer 6:49
What we tell them is, you know, what we’re up to, which is there are 7 billion people on the planet, health and wellness affects every one of them. And, and there’s huge amount of unmet need out there, folks, we’re just looking for better solutions, both to everyday elements, but also to some very serious elements. And, you know, the search for better health doesn’t end at the hospital, folks are out there looking for better solutions every single day. And if we can identify better health solutions out there, and help bring those to people, that’s a very powerful, that’s a very powerful thing that we get really excited about. So first and foremost, is about helping consumers find better solutions to healthcare challenges. And second of all, it’s about helping entrepreneurs and founders realize their dreams, there are millions of folks on Amazon, both in the US and outside, who have built businesses and are selling on Amazon, you’ll Of course, know better than then than most, Jeremy, and it’s not an easy ride. What we see, and this will dovetail into the conversation about why health and wellness is different is what we see is most of the founders in our space, didn’t just get into this to make a quick buck. They are also they had a higher calling. They’re either physicians in many cases, who saw something in their practice and decided to build a better version of what was out there. Or in many cases, their consumers who had a health issue affect themselves or a loved one. And they were then called to go out and improve upon the status quo. So helping them realize their dreams, helping them accelerate their brands and carry on their legacy is also something that we think is meaningful and important that we get really excited about. And that’s where I spend most of my time with everybody, whether it’s a venture capital firm, or whether it’s, you know, a celebrity, whatever it may be,
Jeremy Weisz 8:43
I want to hear who are what’s the makeup of an ideal company that you buy. At Intrinsic And to your point I there’s one founder in that I interviewed a Good Day Chocolate and he was a head and neck surgeon and he had these lollipops that were would numb the back of people’s throat so they can do whatever they need to do. And then he started and they branched off into like, chocolates that had a functional you know, whatever for immune and, and it’s funny at the time, I was like really like one at Melton, and now they have one for sleep. And I swear we have our one of our daughters who has them and now I swear if they run out, all hell breaks loose because like we need these crazy sleepy chocolates with melatonin that help. I mean if any parent is listening, like if your child is staying up too late, it’s like crippling sometimes. So So I totally get what you’re saying and it was out of a need that they created these products. So what are what’s an ideal kind of a company’s listening and they’re like, you know what, I’d love to be a part of this Intrinsic universe. What, what does that look like? What is the makeup of that company?
Yadin Shemmer 9:55
So there’s a couple of themes that we look for one is we look for brands. They’re solving interesting challenges health and wellness challenges. And the more specific that solution is to a problem, I think the more excited we get. There’s a lot of generic, I’d say, just broad based products out there that don’t really address a specific need, you know, vitamin C supplement, those type of things are kind of a little less interesting to us versus something that solves a specific health and wellness need, which we get excited about. businesses that are anywhere between, I’d say one to $10 million of revenue, profitable, growing and in a growing category. folks that have managed to build the beginnings of a brand DNA, you know, whether it’s only on Amazon or whether they have a business that goes beyond Amazon, their own shopfront on other marketplaces, something that we think is is brand DNA that we can take and really grow into something bigger. So it’s not just about the product, but it’s also about the brand is important. And we’re also looking, I think, and this, this is something that Tony speaks a lot about, we’re looking for brands that have really excited consumers, consumers that really get if not fanatical, incredibly excited about the brand and what the brand is doing and and how it’s helping them. Those are the signs that we look for that a brand has a lot of potential.
Jeremy Weisz 11:28
Are there any trends you’re seeing now that you’re interested in as a company, like, you know, we’re hearing a lot of things on CBD or other things, like when we say, okay, solves a specific health issue, what sticks out to some of the some of the things that you looked at would be an example of that.
Yadin Shemmer 11:45
There’s so many, you know, there’s broad themes that I can talk about one theme is aging, you know, the population is aging. And a lot of folks, as they approach 65, Medicare and older, they start looking for solutions to better manage the aging process. And to give them more independence, you know, a lot of folks just want to stay independent stay in the home, rather than moving into a nursing home setting or an acute setting. And so there’s a huge amount of products that are out there for seniors, that whether it’s mobility products, or braces or sleep related products that serve that, that demographic that we look at, we think that’s a very exciting theme. As one example. You know, there’s there’s so many Jeremy, it’s hard to know where to start.
Jeremy Weisz 12:34
Yeah, no, there’s one I that I had on natural, the founder of Natural Stacks, and they’re a neurotropic. And they help with that, because you mentioned the aging thing, because people have been he didn’t realize, you know, there were founders, entrepreneurs that were using it for concentration. But he found that, that aging individuals were taking it for helping increase their concentration and other things in cognition as well. That’s one I think, the best intro I’ve ever had on my whole podcast, which it’s, it’s from kind of like an ESPN highlights, I’m not gonna ruin it. So people check out the natural stacks interview and watch the first five minutes if you do nothing else, it’s it’s really crazy exciting. But But no, I see what you mean, that’s got it really has to serve a specific functional need. Now, do you only want? Do you look for a certain mix of Amazon off Amazon? Or what do you like to see as far as that goes,
Yadin Shemmer 13:31
we tend to focus on business that are mostly Amazon, so kind of 70 80%. Amazon. We will, in some cases, see businesses that are more like 5050 some of the businesses that we’ve come across even have brick and mortar distribution. And we’ll look at those as well. You know, we’re not we’re not fanatic in the way that we screen. But most of the things we tend to focus on our majority Amazon.
Jeremy Weisz 13:58
Got it? And before we go to your pass for a second, you built this, you know, amazing team. I don’t know, it seems like in a short period of time, maybe there’s over a long period of time. Talk about how you assembled the team and who’s a part of the leadership?
Yadin Shemmer 14:15
Yeah. I think the place to start is we were really looking for a broad, diverse set of backgrounds. So we wanted to have folks on the team a that were native amazonians that had built Amazon businesses understood the platform and understood what it was like to be a founder in the space to is we wanted folks that had come from big brand CPG BRAC backgrounds really understood what it took to get a brand from a million dollars of revenue to 100 of revenue and what that process looks like marketing, merchandising, distribution, manufacturing sourcing innovation, and to end the brand building process. We wanted some folks who had an m&a or private equity background that you know can help us Evaluate acquisitions and do acquisitions. And we wanted folks on the team that understood supply chain. And so those are kind of the building blocks. And we were looking for folks, really best in the best folks that we could find in those areas and to try to attract them. And you know, I think we’re really lucky. We found some fantastic folks. So we have, you know, on the team, we’ve got Erum Hasnain who has a CPG and a private equity background, we’ve got Chris Giacolone, who spent nine years of p&g building health and wellness brands, we’ve got Paul Miller, and Mike Duffy, who’s a partner of ours who have grown up in the Amazon system before it was even fashionable to build Amazon brands, really native amazonians. And then we’ve got, you know, folks on the team that were supply chain experts for 15 years and understand that process end to end.
Jeremy Weisz 15:52
Yeah, big shout out to Paul Miller to who introduced us and people to check out the Amazing Exits podcast, as well. And yeah, you’ve assembled this really interesting team that spans you know, really big brand. I mean, some of these people worked in the, you know, P&G probably have some of the biggest brands out there in the space.
Yadin Shemmer 16:14
Yep. Yeah, P&G is huge in the space. There’s a couple of very large companies in kind of health consumer products. p&g is one of them. Chris, you know, ran some of their biggest health brands when he was there, and also spent a lot of time focusing on the Amazon platform within P&G. And so we’re just we’re just lucky, we’ve got an awesome team. And we’re really excited about what’s ahead of us.
Jeremy Weisz 16:37
Yadin when you meet with the medic, you have a Medical Advisory Board as well, when you have conversations with the Medical Advisory Board, what are the some of the questions you’re bringing up with them and some of the feedback they give?
Yadin Shemmer 16:51
Yeah, so we’re, we wanted to make sure, especially in our space, trust is so important. And safety is so important. So we wanted to make sure that we had folks, that could be a sounding board to us, as we were thinking about either brands to acquire or in some cases, if down the road, we decide that we’re going to build some of our own brands, just some some practitioners, medical professionals that could give us very just light, you know, perspective on a specific category. Or to give us perspective on risk, or efficacy or alternatives, just help us think about, hey, should we be in this category? Or should we acquire this product? And if so, what are the things we should be thinking about as we evaluate?
Jeremy Weisz 17:35
Give me an example that I’d love to hear from a risk perspective. Is there anything that Yadin you know, be careful in this space? Or be careful with this? What, what have they advised if anything, and maybe not yet, but of just maybe not steering saying no, don’t do this, but showing you some of the risks.
Yadin Shemmer 17:58
So look, those those coffee conversations are confidential. So I can’t give you specifics. But what I can tell you is, you know, some of the areas that we focus a lot on are ingredients, right, you’re buying in our space, you’re buying products that people put in their bodies on their bodies to give to a loved one a child, an elderly parent, so the stakes are high. And you’ve got to make sure that everything that you’re doing is is safe, and vetted and compliant. So we look at products, we test everything. And this advisory board is brand new. So we haven’t had a lot of conversations yet, but a lot of the conversations are going to be around, hey, what do you think about this specific product or this class of ingredients? What are some of the things that we should be worried about or diligence in before we acquire? Those are the conversations?
Jeremy Weisz 18:48
I’m curious Yadin why you started this company, because you could probably have done anything? You know, like I mentioned, you were better to know that Everyday Health Group, the Mango Health. What made you decide to start entering like a company like Intrinsic?
Yadin Shemmer 19:03
It’s a great question. There’s, for me a couple of things that were a function of my background. So I spent 15 years and in health care on the regulated prescription side of things. So healthcare services, healthcare tech, and in the 15 years that I did that I kind of observed that you had companies with a lot of scale, but actually very low impact on the lives of a human being. And on the other end of the of the barbell you have companies that have very limited scale, but but very high impact. So like, you look at the company like Everyday Health that I was at, we had mass scale, we touched 15 million consumers a month, almost a million physicians, but at the end of the day, we were providing them content. So it wasn’t that impactful to the to the health and well being of people. At the other end of the spectrum, there were companies like Mango companies like livongo there or even physician practices or hospitals that, you know, they touch couple 100,000 lives. But they have a very, very profound deep impact on on those lives. And I was really looking for the next thing that I did, I was looking for somebody that can have large reach, and also large impact. And to me my combination of the two, yeah, and to me consumer products have that ability, which very few things have, they can touch millions of people. And they can have a real profound effect on on someone’s life. So that was one. One thing that really drew me to the business model, and the other was that it’s a really interesting hybrid business model, it’s half of the businesses and investment business where you’re trying to find interesting companies and acquire them. And partner with founders. And the other half is really an operating business that markets products, and deals with manufacturing and supply chain. And to me having those two sides of the business are just fascinating.
Jeremy Weisz 20:57
It’s a lot of moving pieces. Yeah, I mean, because part of your job, I mean, you have to also probably raise money, and then run the business. And then also that businesses that you want to purchase, which do you find, so from the get go, it’s like the chicken or the egg, which, when you’re starting this company, you have to do all of them simultaneously, are there one that you were focused in on first, like, Oh, we got to raise money before we kind of do everything else.
Yadin Shemmer 21:27
It is chicken in the egg. And there’s, you know, it’s a puzzle piece that you have to get right. You need a little bit of money to just get off the starting blocks, then you really need a and by the way, even before that you need a crisp vision of what you’re doing, why it matters, how you’re going to win in the market and the size of the prize. So got a basic business planning one on one. Once you have that you need to go find a little bit of money to get off the starting blocks, then you need to find a team or the beginnings of a team that people can believe in, and that folks want to back then you raise a bunch more money, and then you have to actually execute. And so we’ve gone through all of that. And we’re now in the face of we have to execute and go find great brands, acquire them, grow them and get the machine rolling
Jeremy Weisz 22:19
You have deep experience in kind of this process of purchasing and or being purchased. And I’d love to talk about some of your lessons. When you’re at Everyday Health Group. You help navigate you know, like I mentioned, they ended up selling to Ziff Davis in 2016 for $467 million. I love to hear some of your lessons on helping navigate that process.
Yadin Shemmer 22:45
Yeah, I mean, I was part of the senior team there the business founded by two gentlemen Ben Wolin and Mike Keriakos, Ben was the CEO, the business huge shout out to Ben, not just for that, but but what what he’s done, I think for the space in general. Ben was one of the original digital health founders wave one of digital health in New York City, huge success story, and is now the CEO of Covetrus. And, you know, not many folks can take a business from an idea to a public company to a sale like Ben did. And I was I was just fortunate and feel lucky to have been on the ride with him. I ran the consumer business for Ben, there was a team of five, six of us that were the senior team. And, you know, that process was was a fascinating process, because we were a public company. You know, and as a public company, when you sell it’s very different than a private company sale. A it’s often bigger, we were it was a pretty large transaction be a lot of the information about you is already out there in the public domain. So the whole due diligence process looks very different than in private company sales. And then see you have a whole bunch of just official approvals and votes you have to get through for the shareholders to say yes to a deal. And at some point in the 10 year, nine year journey of everyday health, you know, Ben and the board decided it was time to sell and started the process. And you know, we ended up selling to Ziff. Ziff is a some of that some of the folks some of your viewers may not know Ziff Davis is is one of the old publishing giants you know, they had Men’s Health and a bunch of big publications. And they were the ones who eventually acquired us. Very interesting process great result for the company and and they’ve done very well with it since For example, one of the jewels in our crown which I talk a lot about to people is What to Expect When You’re Expecting and Ziff after they acquired the business has also now acquired Baby Center. They have have now gone really deep into pregnancy and baby which is another category that we love.
Jeremy Weisz 24:58
How was the Mango Health Different navigating the sale of Mango health, compared to Everyday Health
Yadin Shemmer 25:07
couldn’t be more different, in every respect it Mango was was was much smaller than Everyday Health. It was earlier along in its journey, having had a good product, had good clinical evidence for the efficacy of that product and had a defined area of really supporting patients around their medications. And helping folks get more value from their medications. And so the process of selling Mangos very different was private, it was it was easier and quicker than a public sale process because of that. And so the diligence was was easier. And it was much more centered around from the buyers perspective. What could we do if we own this thing? Why didn’t one plus one equal five, was a lot more focused on the synergies of the businesses.
Jeremy Weisz 25:59
You know, when, again, even going back further, your principal investment partner group as well. And I’m curious, you know, through this whole journey, you know, through, you know, being co founder president, what are some of the mistakes you’ve seen people make in this buying and selling process, and maybe you just saw it from couldn’t be also when you were doing investment partner? group as well.
Yadin Shemmer 26:28
There’s a lot, I think there’s a lot of mistakes. One is, I think, one type of mistake that people make in m&a is that they, they do it for reasons that are driven by financials, they think, Hey, this company is profitable, I’m just going to buy revenue and profits, and I’m going to put it together, and it’s going to work. And they don’t think enough about the strategy. And not all, not all revenue, and not all profit is created equal. If the strategy isn’t sound for why you’re acquiring a company, then often it falls apart and be often the investors that you were trying to, to kind of impress with this acquisition they see through it. And so big mistake that I see historically people have made is just thinking that all all profit is created equal, and I’ll just go by it and everything will work out. The other big mistake people make is to underestimate culture. And to not think enough about the culture that they have, and the culture of the company that they’re acquiring, and how those two things are going to fit. And where a lot of acquisitions have fallen down is on is on culture. And a lot of ink has been spilled writing about that specific mistake of not, you know, focusing enough on the people and the culture and how they come together. So those are two, two big mistakes that I’ve seen.
Jeremy Weisz 27:50
I love that. Yeah, I didn’t know what you’re gonna say there. But integrating culture does seem like it’s an obvious it’s like a head slap. Oh, that seems obvious, but it’s not something that was top of mind. So one is, you know, if you’re just adding revenue is just not enough. I mean, that’s just not enough of a reason. And I think that’s your next book, getting is like something like integrating culture, what, what are some things people can do to help integrate culture, because you’ve done it across several companies, you’re gonna do it with all these other companies that get get absorbed into Intrinsic, what are some things that you look at, of how to best integrate culture, once you acquire a company?
Yadin Shemmer 28:28
I think it starts with understanding culture, and being honest with yourself about what your culture is, and, and the culture of the company, you’re buying a, I think a lot of folks see this as an afterthought, of, Hey, I’m gonna buy it and make sense. And we’ll figure out the people on the culture side later. huge mistake. So number one, just being honest about what you are, and then understanding the culture that you’re acquiring. And I think I think two is starting with the folks that on the other side, and in your company, in any company, there tend to be folks that are leaders, whether or not officially by title or not, you know, who are the real, you know, standard bearers, the flag bearers for the culture, getting those folks together, and seeing if there’s a meeting of the minds on each other’s culture and if this is actually going to work. And then I think the third thing that is just so critical is just communication, is how do you communicate to everybody in the company up and down, how you want them to behave, and how you want them to act on a day to day basis. One of the books that’s really influenced me on culture is the Ben Horowitz book, I’m not sure if you’ve read it, but you know, who you are is what you do. And maybe it’s the other way around. What you do is who you are, where he talks about culture, a lot corporate culture, and it’s really about action. It’s not about you know, some set of values or beliefs that are kind of just written down somewhere. It’s really about how people behave. single day how they make decisions. And so communicating very clearly what this is going to be how you want folks to behave. And doing as much pre work on that before the deal gets done with the folks on the other side that kind of drive it to see if there’s a jelling there,
Jeremy Weisz 30:16
you know, I would love to hear any other influential books. And yeah, I was looking at it is What You Do is Who You Are. And I haven’t listened to that one, actually. But I have to, the hard thing about hard things is the one that I have listened to which was, which is, which is a great storytelling. I mean, the book is phenomenal. As far as storytelling goes, are there any other books that have influenced you in leadership or business?
Yadin Shemmer 30:41
There’s that book, there’s the Andy Grove book, which I thought was really short and concise and just memorable on on what leaders should be doing. There’s a Simon Sinek book, which someone I worked with at Everyday Health gave me and I’m thankful to her for doing that. She, she, she gave me that about leadership. Those are three that come to mind.
Jeremy Weisz 31:03
When you so you know, Yadin your background is University of Penn psychology, you went to, you know, got an MBA at London Business School, when you were growing up, what did you want to be? Did you want to do something in business? What was your,
Yadin Shemmer 31:16
you know, I didn’t know, I was always envious of folks who kind of knew from a very early age, what they wanted to do, and just stuck with it. I didn’t really know. And I didn’t have a master plan. I just went where opportunity kind of unfolded along the way for me. And it turned out about 15 years ago that this opportunity to build a business with a friend of mine opened up in healthcare. And really, from the first, you know, a couple of weeks of stepping into that, I kind of knew healthcare was going to be my thing. It just resonated with me, there was an ability to it that I like there was a clear need and helping people that I thought was important. And it was it was clear that I was going to do that. So I didn’t have a plan. I wish I could tell you I did. But I fell into health care. And I’m so happy I do.
Jeremy Weisz 32:03
Yeah, I didn’t know if you had like a family member or someone that was in in this space. Because when you were young, I mean, you came you came from Israel to New York. And I think you said you were eight. What was it like moving just to a different country? When in the you know, I’m just trying to think one of my daughter’s is nine just like plucking her boom, putting her in? She would hate me, I think because I take her away from her friends or whatever the case is, what was it like for you? And then you’re going to a totally different country?
Yadin Shemmer 32:37
Yeah. It was hard. We moved around a bunch, we moved around like four or five times before I was 16. So it was difficult. And you basically, my main lesson for that was just how to adapt to change and be flexible, because you could just get dropped in somewhere. New School, new language, new country, and you’re just told, like, figure it out. Good luck. Yeah, good luck.
Jeremy Weisz 33:02
Where did you move? Where were the places that you moved?
Unknown Speaker 33:05
moved from Israel to New York, first to Queens, then to the city itself, then to Westchester, then back to Israel? When I was in high school, so
Jeremy Weisz 33:16
what was the toughest part about the transition moving from Israel to the States?
Yadin Shemmer 33:21
I was young, I was eight I don’t remember, you know, very much from from that age, but just different school system, new friends, new language. The whole thing was everything was hard.
Jeremy Weisz 33:34
Yeah. So you less than you just you just had to adapt. Yeah. in general. Yeah. What’s the difference between the culture? You’ve been back a bunch of times, obviously, what do you see is a big differences in the culture in Israel in the US? Cuz you, you mentioned right off the bat, you know, with the, the advisory board, right, you’re like, you just got to be upfront, you just got to be to the point. And I feel like, that’s kind of Israeli Mo. I mean, that’s just the culture of I mean, that that’s my stereotype of Israeli culture a little bit like you’re just to the point.
Yadin Shemmer 34:13
Yeah, there’s to the point, and there’s a fine line between being to the point and you know, being polite, you got to walk the line, but that’s one of the differences. And that’s one of the kind of national traits I think of Israel is being very direct, very open. About everything which which is great. I think there’s also a just to get shit done mentality and in Israel, which is why I think entrepreneurship there has been so successful for a country that’s that small to have that many successful companies come out is pretty impressive pound for pound. And a lot of it is just down to the hustle. I think there’s a support structure there too, like a deeper support structure at the family level and at the national level, which enables risk taking in a way that you have here in some places, but not in all places. And, you know, I think the other side of the coin is yes, you have a lot of entrepreneurial hustle in Israel, and a lot of just go get it and be scrappy, and find a way. And I think we’re some of that has flipped, historically, at least, but it’s changing a bit now is, is once a business gets to scale, how do you then build the processes and the structure and the incentives to build a really large business afterwards. And I think a lot of Israeli companies, historically, at least, had managed to go from zero to one very successfully, but then it struggled to build very large businesses in the back end, which is where I think the American culture is so good at, you know, it’s how do we really build a machine that can scale? But I think Israel has matured a lot in the past two decades, and you’re starting to see unicorns I think there’s like 40, unicorns now in Israel across every category, many of which are now public in America. So that is even changing management as mature in Israel to
Jeremy Weisz 36:07
Yadin, I have one last question for you. First of all, thank you, thanks for sharing the story. Thanks for sharing your journey. And I want to ask you about anything else that people should know about Intrinsic that we missed? But before you answer it, I want to point people to Intrinsic.us, check out what they have going on there. If you are an e-commerce brand, specifically, like we talked about in the health and wellness space, it could be, you know, larger portion, Amazon, but in general, just reach out and they’re looking for great brands to acquire. And if they meet a specific need in this, you know, health and wellness space, reach out and have a conversation, they have a really smart team there. So you can go to Intrinsic.us and learn more, and contact them there. Check out more episodes of the podcast Inspired Insider and Rise25. So what else? Do we need to mention your dean, that we haven’t chatted about yet about intrinsic that you think people should know?
Yadin Shemmer 37:10
I think the big things are health and wellness is all we do health, wellness, personal care, that’s our sole focus. We’re not out there buying in other categories. It’s our only focus, because it’s what we care about. It’s our mission. It’s what we’ve all done as individuals for decades. And we think it matters. So if folks are in the space, you know, I would just highlight that we share their mission. And we want to be good stewards for their brands, first and foremost. Secondly, we, we think we can help these brands find a much larger stage both on and off Amazon. And we built the team and the relationships and the partnerships to do that. And third, it for us. It’s not just about the transaction. Yes, we’re looking to acquire brands. But there’s also what lies beyond the transaction, which is we want to build a community of like minded folks in the space who are working in health and wellness and trying to improve on the status quo. And that community is going to transcend just the deal and hopefully help folks find the next thing they want to do after they sell and build a really large business on the back end. So we want to be part of the story for an entrepreneur, not just when they’re selling to us, but also afterwards.
Jeremy Weisz 38:27
Yadin I wanna be the first one I thank you. Thank you everyone, check out Intrinsic.us Thanks, everyone.
Yadin Shemmer 38:34
Thanks, Jeremy. Thanks for having me.
