David Rosenthal: belief

Transcript context

…It's amazing. The way that he was financing this was basically through convertible debt. All the pre IPO, little friends and family financings that he's doing here, are convertible notes. This brings us to 1971, the Annus mirabilis or horribilis depending on how you want to think about it. I just butchered both Latin and French there. Clearly, this financing path isn't going to work for the next stage of growth. Eventually, Knight, I think he reads in either a magazine or a newspaper article about Japanese trading companies. How he had never heard of Japanese trading companies before then, given the amount of business he was doing in Japan, is crazy, although it was in Onitsuka's strong interest for Phil and Blue Ribbon not to find out about Japanese trading companies, as we shall see. What they are is this very strange type of company that we don't really have, at least in the tech ecosystem today.…

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