Hi guys, Matt from Mystery History here. Today I wanted to start a new topic. It's surrounding the very real and unexplained mysteries of the crop circle. Throughout the last several decades, many people have come forward as culprits to these strange occurrences. With many of these events subsequently being proven hoaxes, however, there exists a rare few that do not occur near human settlements, not accessible by road. These crop circles are often witnessed by chance in some of the most remote regions of Earth, whose characteristics have evaded scientific explanations since their arrival on our planet. These particularly special formations will often show traces of things which defy logic. The crops from authentic circles will often grow back and show signs of the traumatic event through mutation, several generations down the line. Several crop samples from remote formations discovered in the early 90s in the UK were found to have been coated in a quote, iron glaze, which was later found to be an iron oxide called hematite. Other components present within the samples were later found to have had meteoric origins. After the iron glazes discovery in 1993, all subsequent unusual crop circles were tested for traces of iron oxides. Many crop and soil samples since then have shared similar characteristics. Tiny metallic magnetic spheres are also often found within soil samples accompanying the formations. When young maize has grown out from a real crop circle's harvest, they have exhibited strange characteristics, such as unusually uniform growth and germination rates. The seed from crop circles that occur on mature plants often exhibit a significant increase in growth rate and vigor, up to five times that of control seeds. Then scientists and many other types of professionals have attempted to replicate these crop formations they have utterly failed. The real formations can stretch many acres and often appear overnight, an impossible task when you realize that each corn stem has been laid in differing directions, somehow manipulated individually. The crops will often show signs of scorching from an extremely high temperature, with traces of plasma found on numerous occasions. The scorching is only ever at the base of the stem, in a small location known as a node. When the crops grow back, these affected nodes usually enlarge by some centimeters. No one has been able to replicate these formations or how they could possibly be created. Whatever is making these circles might not be human after all. If the creators of the crop circles are of extraterrestrial origin, this raises some interesting, if somewhat concerning questions. For example, what would be the formation's purpose? How would you communicate with a being from another planet entirely? Maybe this is the question they are attempting to answer. Rising nearly 400 feet above the desert floor in a remote section of New Mexico within ancient Anasazi territory is a place named Chaco Canyon and within stands an imposing natural structure called Fajada Butte, hidden from the world for over 700 years along a precarious, narrow ledge, there lay a secret, ancient, astronomical observatory. Subsequently given the name Sundagger, and the reason why is nothing less than remarkable, it has been revealed that for more than a thousand years, the Sundagger has been revealing to all aware of its creation the subtle changing of the seasons. In 1977, it was thankfully rediscovered when rock art and petroglyphs were spotted near Pai. Anna Sofaire, who was cataloging the rock art, was one morning greeted by the Sundagger, slowly traveling across the wall, traversing the strange spiral patterns which were etched upon them. The intelligent Anna realized that the Sundagger could have been connected to the petroglyphs, so along with her colleagues she came back at various dates throughout the year, eventually establishing the following information. On the summer solstice, the Sundagger appears near the top of the largest spiral, and over a period of 18 minutes it slices through the very center, cutting the spiral in half before leaving it in shadow for another year. On the winter solstice, two daggers of light appear, lasting for 49 minutes, during which they frame the large spiral. Finally, an equally fascinating and more complex light show occurs on the spring and autumn equinoxes. The large spiral is carved in such a way that counting from the center outward to the right, there are nine grooves. On each equinox, a dagger of light appears that cuts through the spiral on different angles. Meanwhile, a second dagger slices through the center of the smaller spiral. These light shows, which had been going on for centuries, continued for several years after their rediscovery. However, in 1989 it was found that the granite slabs had shifted. The alignments that had been arranged so carefully were no more. It also seems impossible for us modern people to realign them as all attempts have failed. Was this Sundagger really made by the Anasasi Indians? Or was it a far older surviving relic, one that they were merely aware of? A relic, which has unfortunately eroded away? Similar ancient light displays marking the solstices in equinoxes can be found at other locations as well, such as in the southwestern United States and Mexico. In a ruin in Hovenweep National Monument near the borders of Utah and Colorado, light beams also illuminate spiral petroglyphs on the summer solstice. At Borough Flats in Southern California, a winter solstice sun points a finger of light to the center of five concentric rings in an early Chumash rock art display. Were these monuments once used by a lost, ancient advanced group of marauders as calendar sites while traveling America? Perhaps one day we will know for sure. The phenomena we are about to cover may at first sound absurd, and indeed it would appear to be impossible. However, due to the vast array of witness testimonies which span the earth, it would be ignorant to not approach the subject with an air of curiosity. The phenomena became known as Entombed Animal, and throughout the years it has been referenced in the writings of William Newberg, J. G. Wood, Ambrose Paray, Robert Plot, Andre-Marie Constant Dumarill, John Wesley, even Charles Dickens mentioned it in his journal All the Year Round. According to 40 in Times, a British monthly magazine devoted to the anomalous phenomena, about 210 entombed animal cases have been described in Europe, North America, Africa, Australia, and New Zealand since the 15th century. Animals are reportedly found alive after being encased in solid rock, coal, or wood for an indeterminate amount of time. The accounts usually involve frogs or toads, thus the phenomenon is sometimes called toad in the hole. Although it has been dismissed by mainstream science, it remains a topic of interest to the 40 in researchers among others. On rare occasions, multiple animals are said to have been found encased in the same place. Benjamin Franklin wrote an account of four live toads claimed to have been found enclosed in quarried limestone, when Eric G. Macley claimed to have freed 23 frogs from a single piece of concrete while widening a road in Devonshire, the UK. And an 1876 report from South Africa said that 63 small toads were found in the middle of a 16 foot wide tree trunk. The reports of entombed animals have occurred as recently as the 1980s. During the 1820s, English geologist William Buckland conducted an experiment to see how long a toad could remain alive while encased in stone. He placed toads of different sizes and ages into carved chambers within limestone and sandstone blocks, then buried the blocks in his garden. Buckland concluded that toads could not survive inside rock for extreme lengths of time and determined that reporters of the entombed animal phenomenon were mistaken. In an article in an 1890 Scientific American, a writer declared, quote, Many well authenticated stories of the finding of live toads and frogs in solid rock are on record. While a few years later, the editor of the magazine Nature argued, quote, It matters little to tell the reporters of such occurrences that the thing is absolutely impossible and that our believing it would involve a conclusion that the whole science of geology, not to mention biology, is a massive nonsense, end quote. Assuming that out of the hundreds of reports from around the world, some were actually true, then just how did these animals become entombed in stone, and how did they survive? The last official report was in the 1980s, so we may have to wait a while for another occurrence. Thanks for watching guys, and until next time, take care. the longest, being the unimaginably enormous megalithic structures which rest in many areas of earth. These structures built using stones so large, we cannot explain how they were moved. The quarry, known as Yang Shan, is such an impressive example of this lost knowledge and or technique for moving these stones, we felt it deserved an in-depth discussion. What is special about Yang Shan is the fact that it was seemingly abandoned, quite possibly due to cataclysm. In the midst of actually cutting some of the largest stone megaliths ever found on earth, revealing in all its glory just how these stones were indeed detached from the earth's bedrock, a question which had also remained unanswered for many years. Yang Shan also reveals invaluable clues to how they could have been moved. The star of the show, an enormous steel weighing 16,250 metric tons, disputed to have been cut during the reign of the Yonkel Emperor, the third ruler of the Ming dynasty in China, reigning from 1402 to 1424. However, although academia is seemingly willing to approach such subjects with an air of arrogance, often due to its in-depth, accurate understanding of said era, it inevitably becomes unstuck once one begins to explore their knowledge or indeed explanation of how these enormous stones were intended to be moved. Academia's illogical explanation of the site is as follows. In 1405, the Yonkel Emperor ordered the cutting of a giant statue in this quarry for use in the Ming Zhao Ling mausoleum in dedication of his deceased father. Three separate pieces were being cut, the rectangular base, the body, and the head. After most of the stone cutting work had been done, the architects conveniently realized that moving stones from the quarry to Ming Zhao Ling and installing them there would not be physically possible. The body weighed 8,799 tons, and the steel's apparent head weighed 6,118 tons. According to, quote, experts, it would have stood 73 meters tall. A supposed legend attached to this possible fallacy has it that workers who failed to produce the daily quota of crushed rock of at least 33 shang would be executed on the spot. But is this the real story of Yang Shan quarry? Or could there possibly be a more interesting history attached to this site, and indeed its accompanying stones? Within Baolbeck, one of the countless examples found around the world, there are stones well over a thousand tons in weight, which seem to have been effortlessly placed atop one another, using technologies or methods unexplained by these so-called experts. Is it really that unthinkable to believe that they could indeed once shift these enormous stones found in Yang Shan? Not only move them, but lift them on top of one another? Fortunately, more and more people are beginning to look at this exact possibility, and with the mounting evidence in support of far greater antiquity surfacing every day, it is only a matter of time before these sites are truly revealed for what they actually once were. As one would come to realize, while traversing such fields of research as we do, you will inevitably come face-to-face with a worthy adversary. That foe, of course, is modern paradigm, often scoffed at when discussing the possible existence of a highly trained, highly secret group of worldwide individuals who are tasked with the protection of a profitable lie. Often labeled a conspiracy theorist due to the vast array of missing evidence and stolen relics, yet alas, regardless of this, we feel it is our duty to vindicate all those who have suffered for doing nothing more than tell the truth. Many thanks to Will Hart over at Nexus Magazine in Spain for his exhaustive research. Let's start with a familiar friend, The Great Sphinx. In 1993, NBC aired a show titled The Mysteries of the Sphinx. During the show, geological evidence was shown, which indicated that the Sphinx was vastly older than Egyptologists currently claim. This evidence has subsequently become popularly known as the water erosion controversy. The self-taught Egyptologist John Anthony West first brought the evidence to the attention of geologist Dr. Robert Shock. Now, after thoroughly studying the Sphinx firsthand, numerous geologists share West's conclusions, and many have announced their findings to the world. Dr. Zawi Hawass, along with the Egyptian antiquities, have launched a barrage of public criticism at this new evidence. Renowned Egyptologist Dr. Mark Lainer, who is regarded as the world's foremost expert on the Sphinx, also joined this attack, publicly declaring West and Shock as ignorant and insensitive. The smear campaign was ultimately a success, and squashed any further exploration of the theory. This, regardless of the overwhelming evidence supporting their claims, and this intellectual mudslanging is unfortunately quite common. The case of author Michael Cremo could be seen as a well-documented example of this, and it also exposes just how the scientific establishment openly uses pressure tactics on the media and government to stifle historical truths. In Michael's book, Forbidden Archaeology, he examines many artifacts that prove modern man's antiquity far exceeds the age currently accepted by academia. In 1996, when NBC broadcasted a special program called The Mysterious Origins of Man, they covered material from Cremo's book. The reaction from the scientific community could be seen as verging on ridiculous. NBC was deluged with letters from furious scientists and others within certain fields who all called the producer a fraud and the whole program a hoax, even attempting to force NBC to not re-broadcast the popular program ever again. They went to the tremendous effort of presenting a case to the federal government, requesting that the Federal Communications Commission step in and bar NBC from airing the program again. This was not only an apparent infringement of free speech and a blatant attempt to thwart commerce, but up to that point, it was an unprecedented effort to censor intellectual discourse. Dr. Virginia Steen McIntyre would also feel the cold hands of conspiracy. A geologist working for the U.S. Geological Survey, she was dispatched to an archaeological site in Mexico with the task of dating a group of artifacts. This particular case, again, perfectly illustrates just how far this elusive establishment is willing to go to guard orthodox tenants. McIntyre used state-of-the-art equipment to date the relics, but her results were off the charts. The lead archaeologist expected a date of 25,000 years or less, yet she found dates of 250,000 years or more on multiple occasions. A dating of 25,000 years is conveniently critical to the Bering Strait crossing theory. Once her results were realized, the head archaeologist decided to dispose of Steen McIntyre's results. She has since found it hard to get her papers published, and she has also lost a teaching job at an American university. These sorts of scenarios from these particular types of people is what drives us to expose the truth. No one should lose their career because they are doing it correctly. Unfortunately, however, unless there is a dramatic shift within our own society, stories such as these are likely to continue. If you enjoy our content, if you think our battle worthy, please help us to continue our voyage of discovery in unraveling the mysteries of history. Links to donate can be found within the description. Without you, we cannot survive. Thank you.


Patriot Prime Reviews is a channel for adult collectors and may not be suitable for children under 13 years of age viewer discretion is advised Hey, what's going on guys? Patriot Prime here once again with another Transformers review, but before I get started I need you guys to do me a favor if you're watching this video right here and are not a subscriber of Patriot Prime Reviews Please hit that subscribe button right now. It won't cost you a thing Will help me and my channel out tremendously. Also, make sure and visit my sponsor toyhacks.com Toyhacks provides reproduction and upgrade decal sets for transformer toys from generation one to the latest modern figures Make sure and stop by the toyhacks armory where they can equip your figures with new weaponry in multiple colors and toy stages provides backdrops for figure displays and photography Each purchase with toyhacks earns you RoboSense that can be used for future purchases. You can check your balance anytime in your cart Toyhacks is a company run by collectors for collectors So check out toyhacks.com and make your collection stand out from the rest and tell them Patriot Prime sent you now onto the review The featured button this video is the brand new Hasbro pulse Exclusive transformers generation selects transformers prime 10th anniversary Hades Megatron Yes, I'm attempting another Megatron purchase from Hasbro pulse Hopefully this guy doesn't come with duplicate parts or missing accessories now taking a quick look at the packaging It's your basic brown cardboard generation selects box, but with different artwork. You've got a mountain range here in the back Transformers prime 10th anniversary some lightning side of the box You got a Decepticon logo more of that mountain range Top of the box transformers prime 10th anniversary this side nothing the bottom Transformers Hades Megatron and that's pretty much it for the packaging now once you get the packaging open You see Megatron here in all his chromed out glory. I Love the looks of that now This is a Megatron figure that I do not have in my collection And I was actually looking at buying one when Hasbro released this guy So I immediately jumped on this figure plus. I just love chrome You also get a extra piece of tape here for some odd reason now This Megatron figure comes with two extra figures known as arms microns or Target masters battle masters if you will so once you get Megatron out of the package He's attached to this plastic piece here. You've got Megatron in all his glory With three discs. I'm not sure what those are, but we'll find out soon enough You get a ziploc baggie with three different sheets of instructions and decals You know, I love me some decals So you got one instruction sheet per figure and the micron figures You have to build they're like model kits. So the first one This is Gora 2. This is a gorilla style transformer that transforms into Megatron's fusion cannon So that's him and these other two are Hades It's like a bat transformer that transforms into wings for Megatron or a giant size So I am really looking forward to getting these guys together So I'm actually going to do that off camera because it's 2020 and if I do this on camera I'm going to screw these up royally So let me get to work and then I'll get this guy in front of the camera And welcome to patriot prime reviews Well, it happened to me again for the second time in a row A Hasbro pulse exclusive Megatron figure comes to me with QC issues Though it's not the Megatron this time. It's the arms micron Hades figure he came with now when I put these guys together, they were a blast to put together I enjoy model building. It's been quite some time This guy came together really really well. Most of the joints are just pegs You peg a section and it's ratchety and works really really good Up until a section here that clips onto his back and The neck section now The problem is these clips When I was transforming this guy now, I had already put him together I put the stickers on you see the stickers right there. I've transformed him a couple times I turned him into his weapon mode and the wing mode for Megatron But when I went to transforming back to robot mode for this shot right here When I flipped this section back it just popped off and I thought okay I didn't have it on good enough, but no this snapped Right off if you look closely You can see the crack Here on the end. I have already super glued that back But this section right here you can already see stress fractures Starting to happen now. It's been about 48 hours since I super glued this so we're going to see if this works I'll put it back on for the review Same here with the neck section. It's this clip If you look right here, you can see where it snapped And I super glued it back on but like the other piece There's a stress fracture already appearing Right there. So I really am not sure how this is going to work now. I did contact Hasbro explain the situation And I learned something new if you order a Hasbro pulse exclusive Hasbro will not send you a replacement for that. It's right here in this text. I had with the representative So not being able to get a new megatron I'm just going to send this guy back and get a refut. I'm not really sure if I'm going to pick up another one or not But we'll get into that more with the review So let's go ahead and get these pieces to Hades snap back in just to see if I can do this for the review Let's see here So that will pop in Right there and no it snapped Right off. So this This is garbage So at least I did get a picture of this attached to prime megatron. So that's right there if you want to take a look at it But yeah, that that didn't work and that takes me off I will get all this packed up put away Put in this ziplock baggie and mail it off to Hasbro Tomorrow.  This is gora Two now since I don't have gora one. I'm just going to call him gora Now he's some sort of robotic gorilla and I kind of dig it here. He's got a Red Cyclops eye right there a little bit of a gorilla look going on with that face sculpt you can see the nostrils and a little smile I guess Uh It really that's about it. It's it's a gorilla if you use your imagination Now articulation for the figure the arms can do almost a complete 360. They will hit these Back legs back here. So it works. I mean it's cool. It's it's something Now gora here turns into megatron fusion cannon. So what you do is take the head And flip the head up which will relieve or excuse me release this Peg right here and then you're going to take the legs or the feet fold those back Bring those down. So you've got that going on now. You're going to bring the arms up and Fold these over and around and this makes megatron fusion cannon Now gora here does have his stickers applied now. I am going to complain about the stickers These are always an option with these figures, but I'm the toy hacks guy. I have to add stickers These are so cheap. They remind me of the stickers that came with the titans return figures I mean, they're super duper thin Let's see Find a little section here I can peel back and show you But they're ridiculously thin and they just don't Adhere well to the figure and they're not cut very good too. I mean I had a fit just getting these off because The paper would peel off with the sticker. So you see right here There's lots of wrinkles That I just could not get smooth and I know how to put on decals and another problem if you look The fusion cannon does not stay Together it has that gap Right there in the front now.  So it kind of sucks that it don't it don't it doesn't fit together well Without you having to tweak it, but it is what it is And of course that will peg right into megatrons arm right there and actually Doesn't really look bad at all megatron. You can have him posed and Having that fusion cannon facing forward like so if you hear Dylan in the background We got a new puppy the other day. So you might hear him running back and forth in the background He's had a blast with that thing. So yeah, the fusion cannon looks pretty good Now let's move on to the main figure himself The mighty megatron from transformers prime and I love the looks of this guy the chrome Looks fantastic closer.   There is light piping He's got a clear purple section right here, but it really doesn't work Because the eyes are so small. I mean you gotta get that light Right on there, but That's no biggie for me whatsoever He looks great. I love chrome now Articulation very limited with the guy due to all the spikes and wings The arms can move up and down all around but you do have to move these Shoulder pieces up and out of the way. There is no waist articulation The head is on a ball joint, but can barely move Legs can go up and down in and out.  I just could not get these smooth. They're wrinkled. They're peeling off And they just look really really bad and right here this one actually tore Went always peeling it off the sheet. So fortunately I was able to Get it together nice and close right there, but still Very shoddy decals that come with this generation selects exclusive figure.  There's one final look at Megatron in robot mode. Let's take a look at him in vehicle mode Now before we get into transformation, I do want to show you this I forgot to show how loose his hips are. Check that out You can hang him on your rear view mirror and he could be a Dancing hula girl Megatron for you. So yes another great issue with this figure All right for transformation. The first thing we're going to do is lift these shoulder pads up And you're going to turn them So they face this way now when you first do this be very very careful These joints are super tight and they're on thin plastics. I mean I Turned them ever so gently and once they break loose More or less. I mean they turn really easy after that Now what you're going to do is rotate the Lower arm forward and fold the hands up Flip the Figure around you've got these wing sections that keep flipping up on me. You're going to take this back section Bring that up like so and they're going to rotate the arms in you got these pegs right here That match up to the holes inside the arms. So just rotate these in And they will peg into place Actually Bring these arms Rotate this way. There we go. Now they'll peg in This one is a little bit tight But There we go. And now once again, I think I got the arms wrong. Let's rotate these This way there we go because there's a peg right there in between the arms so they'll hook together So now You have the arms in the proper position So now you're going to take the chest section here And this folds down And out like so the crotch area This actually will Come out And down Now you'll bring all of this up bring this forward These down actually This is a weird transformation Bring these sections here These will fold around Megatron's head After you bring this section here Back so get that out of the way then bring these forward I've only transformed this guy once I got so fed up with the arms microd. I didn't really fool with him anymore So now you pretty much got the entire back section of the vehicle now you're going to take This section with the legs you're going to bring the feet around Fold those in And then the legs will separate Into the wings so get these out and around There we go I do like how the wings transform into the legs. It's pretty cool. Get those feet folded back There's a little section right here. You can bring that out now if you wish Now on the other side and now you want to swing this around And there is a peg Where is the peg? There's a slot right here. So you want to match up these wings sections once I get them out and ready Where is the peg? There we go. There is this purple slot right here That will go into that peg up top Get that locked in place do the same thing here on the other side This will hold the wings wings in Bring the wings around and over They will peg in There's a slot or a peg right there that goes into that slot on the wing Get those lined up And now you're going to take the chrome sections here Bring these forward like that And then these chrome sections here Actually that works get this angle just right And there we go. We have megatron in his Spaceship mode get that tab together right there and that actually looks really good. I dig that let's get those Make sure everything's out and correct I like that that is really awesome looking the chrome looks great and I dig how megatron kind of Peaks out of the cockpit like they're like they're man. I cannot talk guys. I'm sorry. I'm still pissed off about the arms micron But yeah, this thing looks great. I kind of like how This is a blend of g1 and the bayverse films.  He does not need to be in disguise now This little flip out section right here. You can attach the fusion cannon to Like so So you've got that option right there, but it really doesn't make him very aerodynamic or You could have added hades if he pegged in to give him more wings on the back, but screw that guy So yeah, there is megatron in vehicle mode a really cool looking vehicle with a very interesting transformation I dig it. I really like that And now for some quick size comparisons. Here's the transformers generation selects transformers prime 10th anniversary hades megatron minus hades with generation 1 megatron transformers titanium megatron and netflix siege megatron The transformers generation selects hasbro pulse exclusive transformers prime hades megatron Was kind of a disappointment for me Now granted I do not have this version of megatron in my collection and I've been wanting a prime megatron For some time now. I really love the figure the chrome looks fantastic The sculpting looks fantastic. I just wish he didn't come with the arms micron figures I wish he had a regular fusion cannon And of course hades was just a flat out piece of junk the sticker decals also Man, they sucked. I was looking forward to putting the stickers on seeing how well they looked I'm a sticker guy, but these stickers are pathetic And there's really no sense in you even wasting your time putting them on I wish he had more chrome accents to him instead of the stickers, but oh well So there you go guys. There is the transformers generation selects hades megatron So does a transformers generation selects transformers prime tenth anniversary hades megatron belong in your collection Well, this figure or this figure set was a little bit of a disappointment for me I love the megatron. The megatron is great. I've been wanting a transformers prime megatron in my collection And this one really fits the bill the chrome looks wonderful. The sculpting detail is fantastic I think he's really really cool. I just hate these arms micron figures. He comes with granted Gora is not too bad once you can tweak him where he'll stay together But hades this thing is a piece of junk I would expect so much more from hasbro, especially for an exclusive figure. I mean Why use this damn? Clear plastic. I hate clear plastic and even more so now it's it's it's worthless So your mileage may vary on this Uh, it's a good chance. I am going to order another one because hasbro sent me a prepaid shipping label to Send this one back. I think I'm going to get one. I just won't put hades together That way I can have a complete set any transformers prime Megatron in my collection Now if you enjoyed the video, don't forget to like don't forget to subscribe and don't forget to hit that bell icon To get notified when I upload new reviews and before I leave Dylan wants to show you guys his new puppy. Come on in Dylan He's been anxiously waiting over here on the side. There we go And there we are. What's his name? His name is dipper. This is dipper. And what type of dog is he? A french bulldog a french bulldog We just lucked in to giving this fella and he's already already really impressed me of how smart this guy is Me. So what do you think your first puppy? He is really cute He's just five months old just five months old. Yeah And He loves chewing on stuff. See so if he's five months old that means he's just He's just zero. He's not even he's five months old. He's not a year yet. He's not zero. He's five months old Okay, that's what I think but but he's just so cute. He's just And he they are really smart dogs. They are very smart dogs. I am really impressed with him very very playful So anyway guys as usual this is patreon prime and Dylan signing out. I can't salute. I'm holding the dog. Do the salute and who are for me Who are who are


Hi everyone, this is Sonali. Thank you all for carving out some time for attending today's webinar on keeping your business afloat during COVID-19 crisis. To all the attendees out there, please type in any questions you might have in the Q&A section and we'll try to answer as many as possible at the end of the session. Request you to keep the questions within the scope of today's discussion and not to your personal business queries. I would now like to introduce our speaker. We have with us Nandini Shankar, founder at Topic, India's first and only 360 degree equity and cash management platform. Nandini has over two decades of experience in the financial markets. First with the legendary hedge fund, long-term capital management and then as a founding employee and later Asia Pacific head and CEO of fund administrator Globov. Nandini played a key role in Globov's success in APAC and its billion dollar acquisition by SS and C. Interestingly, Nandini has had a front-receive to two of the biggest financial crisis in the last two decades and has picked up some lessons on how to stay afloat during tough times. Today, she applies these learnings as she stares her startup through the COVID-19 crisis and is keen to share them with you. With this, I hand it over to Nandini. Okay, great. Thank you so much, Anali, for this opportunity and for that lovely introduction. And thank you all of the participants. I know there have been a slew of webinars, so I'm quite grateful that we have a bunch of attendees and hopefully I'll make this session useful for you as well. So let me start off with a bit of history, a personal history from myself that will give you a sense for why I have a different lens with which I view this crisis and how my own experiences have helped me kind of figure out how we can navigate our way through the current crisis as well. So I was 24 years old and my first job was with a very, very secretive hedge fund called Long-Term Capital Management. And it was a fund that I had raised about $4 billion and you could call it a startup in its own way because at that time, Wall Street had really large trading, proprietary trading desks, but very, very few people had actually gone out at that time and started their own funds. So not only were they very secretive, they were also very unique. And it was a very, very exciting time to be with them. You had some very renowned people who were a part of the fund, for example, Myron Scholes, who was one of the people who wrote the Brad Scholes model list and has won a Nobel Prize in economics, was one of the founding partners of Long-Term Capital and it had some of the most story traders on Wall Street. So obviously, when you're 24 years old and it's your first job, you're like, oh my God, I'm on the greatest place on earth, right? And it was exactly that for me. But I will say what I learned from Long-Term was not its successes, what I learned from Long-Term was having this front row seat to failure. And that failure was tremendous. Long-Term lost $3.5 billion in 15 days. And because I ran what is called Collateral Management for them, I was one of the first people within the firm to even realize that the fund was losing money. Now, what does that mean? Basically, hedge fund leverages its assets. That means if you give it 100 rupees to trade, the actual balance sheet of that hedge fund may be as much as 500 rupees because they have invested in futures or they have invested in derivatives that ask you to put in very little money in the beginning when you make the trade and a lot of the money is actually given when the trade is settled, which might be a year from now, three years from now. But what happens during that period is any time that the trade loses money, the counterparty on the trade, the person who's on the other side of the trade is going to come and tell you that I need you to pay margin.  Now, if suddenly all of your trades start losing money, that means everybody on the street is coming to you and saying I want margin. And margin is typically maybe 10 or 20% of your working capital, right? But if for every single trade that you put on the market, people are coming back and saying you need to pay up, you run out of liquid cash to be able to pay them. And that's exactly what happened to long-term. They did not have enough liquid cash or liquid treasuries or T bonds that they could sell very quickly in their portfolio to be able to meet their margin calls. And what ended up happening with long-term is that the street recognized two things. One was long-term was too big to fail. If they failed, then they would have taken down Goldman, they could have taken down Best Turns, they would have taken down Merrill Lynch, and the Fed came in and decided that that is not good for the financial markets and it's better for them to have a bailout. And 13 banks came in and they put in all of the money that was needed to maintain all of their margin payments. And they also said that we are now the new investors in the fund. So people came in, people put in money and the story ends on a good note because after three years, long-term returned 30 to 32% back to those investors, which means that the trades were good. They just needed the amount of time to be able to keep the trades alive, which again, I'm going to bring it back to the startup world and show you how that's relevant for startups as well. Now, similarly, Lehman went through a similar liquidity crisis. theirs was slightly different. It was brought upon by the mortgage and the credit crunch that you had in 2008. And in Lehman's scenario, what was really going on at that time was the market had already woken up to the fact that if Lehman fails, there will be other firms that also fail. And as a result, the government really, really pushed. The regulators pushed for a merger as opposed to a bailout and you had Nomura who came in and bought Lehman at rock bottom prices, but they got access to, I think brilliant talent and some amazing infrastructure. And Nomura as a firm is a much, much stronger firm. So I think the lessons that I learned from both long-term and Lehman is, yes, these are tough times, but if you're truly an innovative company and if you can convince people that it's worth, you have value, you have value to give people, it's worth keeping you alive and keeping you around for the long-term, then it makes sense to do anything possible in your arsenal to keep going. And then ultimately, I think the most innovative and the most disruptive companies will face less competition and they will emerge as winners. So I have a little bit of a cyclical graph here that I want to show as to what actually happens in a market during a crisis and how does it affect startups as well? So first, you have a market reaction to a crisis, right? The first people who react to anything that happens is the stock market. And we've already seen that there was a huge liquidity crunch, cash, people were selling anything that they had. In the beginning, they stole the US dollar, then they started selling gold, then they started selling treasury bonds, then they started selling all of their triple A rated bronze and the reason they were doing this was because they had to raise money for the margins. Now what happens when you have this liquidity crunch is you actually have an irrational selling of assets. So you know that the asset, for example, gold is an asset that you know it will hold its value, but I'm sure all of you noticed that gold dipped tremendously and it has now started climbing back up. Why has it started climbing back up? Because what people have noticed is you have a widening of spreads. That means the relative value of what gold should have in the market does not match its current value. So let's say gold is trading at 32,000 rupees and making up these numbers because I don't want to use real numbers and you know that the value of gold should be 50,000. The investors who have cash in the portfolio start buying up gold and they say that, yeah, I know this is an asset that will hold value. The spread has widened to a point where it doesn't, it's not sustainable for gold and we know that gold will catch up. That means you also have arbitrage opportunities. What do we mean by arbitrage opportunities? I think a liquid asset and an illiquid asset that are very similar to each other will have a spread that is okay in the market. And what do I mean by that? Let's say you have Coke and you have Pepsi. Generally people are agnostic towards Coke and Pepsi. It's possible maybe in India people like Pepsi a little bit better than Coke. So the price of Pepsi is a little higher than Coke. But if suddenly the price of Coke falls dramatically and the price of Pepsi rises dramatically, then you know that something is wrong, right? You know that ultimately it has to converge. So then what do you start doing? You start buying Coke and you start selling Pepsi in the hope that they will converge. So this is what we mean by arbitrage opportunities. Now what does that mean in terms of startup? How does it relate to you as to what happens during periods like this? So when you have a liquidity crunch, obviously as a startup, I'm sure all of you have also seen it that cash is something that is top of everybody's mind, either you have to preserve cash by cutting down expenses or you have investors who promised you money, but they're either saying I want to wait for some more time before I give you money or this straight out backing out of their term sheets and people are in a soup, right? Where you're saying that I have to figure out how long I can keep my company running with the amount of cash that they haven't had. So that's one thing that almost everybody is taking a look at. And then similarly, once you start realizing that your cash runway has shortened dramatically, what you're also trying to figure out is how do I raise money as quickly as possible? And what do I need to do? How do I attract more investors? What do I need to do to convince them that I am a viable startup that you should invest in? So how do you do that? What worked for both long-term and even where one of them got a bailout and the other one got into a successful merger? The first thing is clarity and transparency. What was amazing about I think both the firms is that they had incredible infrastructure. Even though the firm went through a terrible crisis, not once did either firm miss a margin call, not once did their technology infrastructure not hold up. So they were able to convince investors that they had an operational backbone that you could trust. If they were telling you that I have 100 positions, this is their current value right now, this is not a expect value to be three years right now, you were able to trust that data. And when you were able to trust that data, you were able to make a timely decision with respect to giving them money, right? You did not need to say, I don't know, I have to do a lot more due diligence. I have to have an auditor come in and take a look at it. And only after that I can give you money. If all of that starts happening, then it's too late, right? So you have to be able to show that you have clarity and transparency in order to be able to take a timely decision. Then the third thing that worked for both firms is you got rid of your ego. I think it is difficult, right? All of startup founders, we have pride, right? We believe in our product, we believe in the value of the product. And if suddenly somebody comes to you and says that I'm gonna value you at a down round or I'm gonna give you a 50% haircut on money that I thought I would give you, it is time to kind of say, you know what, I am in this situation where I cannot let my ego prevent me from taking decisions that I may not like to take. So accept a bailout, accept something because you have to do whatever it takes to keep your company afloat. It's really, really important. So as long as you feel that it is a relatively rational decision and somebody is not trying to take undue advantage of you and you are able to come to a fair compromise, it is important that you recognize that in this particular scenario, your old metrics and your old parameters that you used to value your company or that you used to deliver forward projections may not work and both of you figure out a way to meet midway. It's very, very important. It's very important to nurture those relationships. These are investors who have trusted in you before. You want to keep them with you for as long as possible and try to work with them to come to some of these agreements. And then finally, to hit a home run, you have to cross all four bases, right? You cannot go from first base to home run and I know this is a baseball analogy that I'm using in India but I'm hoping a lot of people get it, right? So once you take their money, you have to think about what are metrics and milestones that I want to show them so that you can measure them and you continue to have the trust and confidence in me that you know that I will ultimately hit the home run and keep that in mind. Don't just take their money and run. Make sure that you keep them informed. Make sure that you continue to build that trust that they have with you so that if you do end up in a situation where you have to go back to them and say that you need more money or you go back to them and say, look, I made a couple of risky decisions and they didn't work out and I need to pivot or I need to change and I need you to continue to stay with me. They're able to do that. So I would say it's clarity and transparency that helps you make a timely decision. Get rid of your ego, accept all the help that you can from friends, from family, from investors who have helped you before and then once you've accepted that help, make sure that you build metrics and milestones so that they are able to evaluate you and they're able to continue to build on that trust. What will work now? Cash is king. It is really, really important to track everything down to the penny right now. You have to have a very, very good handle on working capital. You have to know where you're spending the money first before you figure out that expense makes sense. It should not be a surprise to you that you had a contract. For example, that had a 10% escalation in May. That is not something that should suddenly hit you in May and then you're like, oh my God, I have a 10% escalation. What do I do now? So it's important to know what cash you have in hand. It's important to know what your projected cash balance is going to be based on your known expenses and your known revenues. Similarly, patience is the world. This is not the time to make knee-jerk reactions. Be calm, be collected. Take more time for yourself to think through situations before you react to something. It's really, really important. I think what was amazing for me at long-term when I was there was if you walked onto the trading floor the day after they lost, I would say, they lost $1.25 billion on a Wednesday. But if you went to the trading floor, nobody would know that. They continue to focus on trading. They continue to remain calm and collected and that helped them make decisions that ensure that they stayed alive for as long as possible. So it's important. Take deep breaths, take time for yourself. Spend more time thinking than reacting. And they say, fool's Russian, right? Don't do that, don't do that. If you feel that, for example, you had this run on the Fidelity funds, right? Where all the investors started liquidating or started redeeming the funds sooner. But from my perspective, that was an irrational decision. The underlying assets that Fidelity had held value. There was no reason for you to get out right now. And you got out at a value that was really, really bad. Instead, if you had figured out a way to keep your assets within the fund, don't have this run on this AUM Fidelity, I promise would have returned to profitability and would have actually given you a return on that investment. So it's important. It's important to take calm and collected decision. It's important not to have a herd mentality. In these days of WhatsApp messages, you read a lot of stuff that has not been verified, where sometimes the source is not as transparent as you want it to be. Then you're making decisions that are based on incorrect data. Don't do that. Take the time to make sure that the data that you're making the decisions makes sense to you and you're able to live with it. You're able to live with the decision that you're making as well. And then go back to basics, right? You wear a startup one day, even if you were a funded startup and you started saying, I'll give free coffee to all of my employees, for example. It's time to go back. It's time to go back and say that this is what I can do and be transparent about these decisions. I think we ask a lot from our employees during the good times. During the good times, we have no problem going to our employee and saying, listen, I need you to work an extra four hours today because I have a very, very important demo tomorrow, right? And the employee steps up and the employee says, yes, I will do it for you. Then you've got to stand by them now and say that at a time when you are hurting, one, I will be transparent about your decisions. Two, I will give you as much of a heads up when I'm trying to make a decision that might not be good for you, for example, I'll take a salary cut and be fair about it and say that I'm doing it for everybody. And lead by example, right? It's not fair to say that all of my employees get a 25% salary cut, but I, and I too will take a 25%. As a founder, sometimes it's important to lead by example and say, I'll take double the salary cut. I'll take 50%, right? If you guys are taking 25%. So that's really important. Take a look and be brutal about reducing bloats. Sometimes we have contracts with friends, for example, right? That we may feel uncomfortable talking to them and saying that, listen, I know you and I have a contract and I'm supposed to pay you this, but can you do something about it? And go everywhere. Look at every look and corner that you can use two-year advantage to reduce expenses. And then the most important thing that I feel that a lot of people are not doing, right? This is a time of extreme disruption. And when you couple it with the fact that we have social distancing, digital assets have become really, really important. It is paper does not work, right? Something that needs a signature does not work. Face-to-face meetings do not work. A complicated Excel spreadsheet that you need to explain to someone over two hours does not work because people do not have the time. So this is the time to go and look for applications and tools that make it easier for you to operate in a world that is increasingly becoming more and more digital. And this is especially true of India. I think we stick to paper, we stick to Excel, we stick to tried and true methods of doing things, but it's no longer, we can't do that anymore. And we have to figure out if there is a more digital way to do something, you have to be open to it. And you have to look out for those tools that are going to ultimately reward you because one, you are an early adopter to those tools. You will figure out how to use them more effectively. And ultimately you look much, much more professional than somebody else who has not made that change to using digital assets to their advantage. And then finally added the promise you some jokes because I think what is going to get us through these times is humor, it's our family, it's our friends and maybe our vices, like a beer. So keep your chin up, keep smiling, take time out for yourself and know that there is a light at the end of every tunnel. We will get through it. And I think what will be very, very interesting in this time is it will be a time of great innovation. Disruption is difficult to do when everything is going well. Because when everything is going well, you do not want to get off the treadmill, right? Everything is working. You're like, why do I need to make a change? But when nothing is going and everything is uncertain, what actually happens is that people are much, much more open to disruption. So I do think companies that are able to take advantage of it are able to show innovation, are able to build trust, both in their investors and in their customers will be companies that will come out of the smiling and perhaps will be some of the major companies that we have in 2021. So we had 1998, which is when I started seeing failures. I saw a bunch of other failures. I was in New York during 9-11. I saw how the city responded to that crisis. There were a lot of lessons that I learned from there as well. It's basically when the going gets tough, the tough they're going. It's really, really important. And I do think all of us will become stronger in 2020, which means that we will approach 2021 with a smile. So thank you, everyone. That was a very, very quick overview for all of you. And I think I would love to make it an interactive session. So I'll open it up for questions. Thank you so much, Nandini, for your session. It was really insightful. To all our attendees, we want to make it a more interactive session. So if you have any kind of questions that you would like to ask Ms. Nandini, please put them down in the Q&A section. And we would love to answer all of those questions. Let's just pause for the next two minutes until we get some more questions for us. Hi, Siddharth. I see that you're, are you trying to type in a question? I think that's a good question. Liquidity is cyclical and liquidity is very relative. So I do think that once you go from liquidity to spreads to arbitrage, what will happen is you will start seeing a lot more liquidity in the market because the reality is nobody wants to stuff their cash under the mattress, right? Nobody wants to do that. The minute investors start saying that I have way too much cash in hand, they are going to look for opportunities to invest. So you will see liquidity rush back into the market. Anytime there's good news, you see that markets react to it pretty much immediately, right? And that is just another term for saying cash has gone back into the market. On top of that, you're also seeing governments respond. And you're seeing governments saying that we are going to inject liquidity into the market. So I do think that you will see cycles. You will see cycles of crunch. You will see cycles when cash comes into the market, the companies that get the cash at that time are going to be some of the winners. And but every time there is bad news, it is possible that people will retreat. And it's impossible to say how long that will last. But I do think that it will not be a straight slope on the illiquid line for a long time. You have to look at it as it will go up, it will come down. And it's important for you to grab the advantage at that time when it is going up. Sure, thanks, Raj Shekhar, for that question. To be very honest, right now it is a period of very, very high uncertainty and volatility, right? And I think people are finding it very, very difficult to predict when the crisis will end, which is what is leading to uncertainty. You also have every country responding to the crisis differently, right? You have a Sweden, for example, which has had a very different approach to the crisis. And you've had India, right? Which has had another extreme approach to the crisis as well. So the first thing that will have to happen from a global standpoint is ultimately people will find a balance in these approaches, right? And every country will come to that standard, will agree on a set of protections that perhaps the entire population has to have to be able to deal with the crisis. And that is when you will start seeing the baby steps that the economy is going to take to build itself back. And we are much, much more integrated right now. We are much, much more networked. So people are realizing that having a supply chain that was completely dependent on one or two countries perhaps was not the way to go. So you will see that there is a lot of diversity in terms of supply chain management. There is a lot of diversity with respect to both selling as well as buying. And all of that will help the economy get back on track. So to me, it feels like it's concentric circles, right? First, a little place will get back on track. They will figure out how that small village got back in track. They will use those lessons to bring it to a city. They will use those lessons to bring that to a country. And slowly that circle just becomes larger and larger. And it will envelope both India and the global world from the network effect. And we will all kind of hobble back together. But it's difficult to predict how long it will take for. Thank you, I hope that helped. And we're waiting for another question. I did want to answer something that I thought of a question even for myself, right? Is what do I need to change as a startup to be able to attract investors? I think that's a very relevant question for a lot of startups. So a couple of things that we need to keep in mind. I think that the seed round and early stage round startups will face the biggest brunt, right? Because most of these guys are funded by individual investors or angel investors. And their risk appetites and their risk profiles are changing dramatically. In a gold rush type of market, everybody wants to be in the market, right? But now everybody is retreating from the market. And first, very, very low risk assets. We'll see investors jump back in. And then it will move to higher risk assets. And unfortunately, startups are at that end of the spectrum, right? Where you are one of the riskier type of assets that an investor owns in their portfolio. So I do think that early and seed stage startups, what they need to figure out with respect to funding, is going to be a little bit different than what an institutionally funded startup needs to figure out. So why don't I deal with those two answers separately? What does an early and seed stage type startup do? I think you have to go back to people who will trust you and who will value you a little bit more easily. That means you will have to turn to friends and family. And you will have to hold your hat out and say, help me out. And you will also have to nurture relationships with people who have already invested in you once. Keep make sure that they are informed. Make sure that you're as transparent as possible with them so that you continue to build that trust. You continue to show value, accept a down round so that you can do anything that you can to keep your company afloat. And the other thing that I tell early and seed stage startups is that look for merger opportunities.  Competition will dry up. Take advantage of that. Maybe if you have a particular product and a similar startup was building a product that you knew was similar but perhaps a little bit more different, start talking to them and start telling them, listen, I will bring A and B to the table. If you bring C and D to the table, maybe we're off to the races. And maybe both of us can raise funding together. So look for partners, look for collaborators, look for people who complement your skill set and that will tremendously help you get out of this crisis. Now, if you are an institutionally funded investor, I think very honestly, you have been spoiled by investors and you have to recognize that. You have to recognize that valuations where inflated, valuations did not get as much scrutiny because people always felt that it doesn't really matter. It's going to go up anyways. And you will have to accept a down round with some grace and humility. I speak to a lot of investors right now and they say that they sit on really contentious calls with the startups. And you have to remember that they will remember this. Institutions have memory. So you can never take back what you said. So if you become the kind of startup that people find it really, really difficult to work with, you put yourself in a very bad position. So show grace, show humility, show that you're willing to meet them halfway and they will remember that. So this is the advice that I would give people who are dealing with institutional investors. Thank you. And I'll take another question. Nandini, so we have quite a few questions lined up. Most of them are related to startup funding and investment only. So you have answered quite a few already. So I'll just read out the questions and you can just let me know if that has been included in the previous answers or if you would like to add something to that as well. Okay, sure. Okay, so Saurabh Gaurd says, is it a good time for seeking funding from investors? Will they be keen on investing at this time? Can you hear me, Nandini? Yeah, I'm sorry, I was on mute. So it depends on the risk profile of the investor and it depends on your relationship with the investor. So I don't think people are rushing to fund anybody right now, but if you do find somebody who has the appetite, then seek to build trust with them, seek to show them value, seek to show them that you will be a partner for them, that you will build metrics and milestones and that will help you get funding. The other type of funding that I think will help people is what we call trans-based funding. So let's say you need a million dollars over the next 10 months, don't go and try to raise a million dollars right now, right? Put them into buckets and say, okay, go to the investor and say, you know, put in 10,000 right now, let me give you metrics and measure, that things that you can measure me by, let me give you milestones that I will have to meet and once I meet the milestone, I will draw down in an additional 10,000 and keep doing that stage by stage as opposed to saying that I need a million right now. That's another way to do it as well. Or ask for a line of credit, for example, say that perhaps you're not comfortable with equity, why don't I offer you debt and look for debt-based funding? So that's what I would start doing with investors now. Great. So the next question comes from Sanya Malutra. She says, from a fund management perspective, how should a startup orient their approach to maintain growth? So I actually think that growth is no longer as important as showing that you can hold on to the revenues that you've already managed to get. What do I mean by that? Customer retention is much, much more important than customer acquisition. So if you do want to have growth for most startups, this may not be true for everybody, but for most startups, it's better to get a larger share of an existing customer's wallet than trying to go and get new customers because new customers have also been spoiled, right? They want freebies, they want to say that I want to test this product for some time before I start paying for it and you don't have the time to do that. It is better to build deeper and deeper relationships with your existing customers, show your investors that they are sticky, show your investors that you're able to grow from them. All right. So the next question is, how to manage our cash flows and pay our employees when there's no revenue coming in the business at this time? Absolutely, right? This is something that I give, I think gives every startup founder sleepless nights right now. And the way we did it at our own startup is, I have a startup that has about 19 employees and we were just transparent with them, right? And I said that, look, these are the expenses that I have coming up. This is the amount of cash that we have on hand. We recognize that every individual's situation is different. So please come back to us and say, what is the maximum amount of impact or maximum amount of cut that you think that you can take in your salary and come back to us with those numbers? And it will be amazing to find how generous your employees are.  And they stick by you through times. So many of them came back and they came back with such large percentages that they were able to go back and say, we don't need to do that right now. We can do smaller salary cuts. At the same time, all of us recognize, especially companies that have been in business for a long time, you have bloat in your employee workforce, right? You have to be ruthless about it. If you know that you are not going to get value from a certain type of business or a certain employee profile, it is better to just cut the cord right now and get rid of that employee and save the employees that you want to keep. That's really important. If you are unable to pay them at all, then try to see if you can do something in a rears. Try and say, can I give you an IOU, right? Or can I give you a stipend for some time so that I'm giving you the least amount possible? And then whenever I'm able to get back on my feet, I make you hold it up. Great. So the next question is from Rishiti Sen Gupta. And this has pretty much been uncovered in the previous questions, but I would still like to say it out if you want to add anything to it. So she says, what is your advice to startups struggling to raise money during the COVID-19 situation? So, I mean, I'll add a few more points. One is if previously you were trying to reach out to 10 investors, now you have to go and reach out to 100 investors.  You have to go to as many people as you possibly can, make your net as wide as possible. Once you've done that, right? And once there are some people who show interest, try and figure out what is common about those investors who are showing interest. What is that value proposition that they're responding to and build on that value proposition? And then reduce it. Then you don't have to go to 100 anymore. You figure out that there are 20 who all react to this one value proposition really positively. Then push that, push that, push that and see if you can convince them to give you money. Again, you know, raise cash, cash in tranches. Make the check as small as possible so that it is easier for the investor to make the decision. Great. So the next question comes from R.T. Veerwani. She says, after COVID has ravaged our businesses, how do we make our business viable for investment? Is this something specific that investors are looking for in companies post COVID? So I will say that if you are a company in an industry that has been directly hit by the crisis, what do I mean by that? If you're in the hospitality industry, if you're in the travel industry, it's very frankly, it is impossible. I think those industries are going to take very, very long time to give investors a roadmap on how they're going to get back on track because they don't know themselves. And investors will struggle to figure out a reason to invest in that. So either they will have to pivot or they will have to figure out how they can use perhaps some variables to their advantage in this crisis and be able to go from there. But if you are a company that is not directly affected by the crisis, if you're a company that can show that, yes, once the lockdown is over, this is how I will build your business, then the first thing that you have to show is you have to show that. You have to show that to investors. What is your plan? And what is your milestone-based plan? Show them if you were before, people ask for yearly financial projections. Don't do yearly anymore. Do monthly financial projections. Make the bites of the cookie that they have to take as small as possible. And that is the best way to raise money from investors right now. Okay. So the next question is on similar lines. It's from Mr. Rohan. And he says, is there a shift in the investor sentiment? What kind of clarity are investors seeking in financial transactions before making any decisions? I mean, the risk, the investor sentiment is obviously risk appetite, right? Risk appetite has moved tremendously. The biggest clarity that people are seeking for is what are you doing with my money? Where are you spending my money? Are you spending it on things that have the maximum ROI? And so if you can show transparency into working capital, transparency into burn rate, transparency into your cash runway, you go a long way into earning the trusted investor. So that is what I would focus on. Great. So the next question is from Mr. Ashish. He says, at this stage of corona running throughout the world and effective globally, can we see flow as before again and sustainability on proper stage in the coming months? It's difficult to say, like I said, it's cyclical, right? I think you will have liquidity, the markets will go up, people will come back and try to get to their normal life as soon as possible. But then you don't know, right? You may have another wave where the virus hits you, perhaps it is mutated and something else may happen. So it's very difficult to say it, but I think it will be cyclical. And whenever there is optimism in the market, that is when you kind of rush in and try to gain as much market share as possible. So the next question is, what area is ideal for diversification amid or post COVID-19? So I think innovation and disruption, great companies are actually built during times of extreme market stress. So if you are able to really sit down and think about what will the world look like post COVID and what is the world going to be looking for and you offer solutions to that world, then you're going to have investors respond to you or even if you don't have investors, then you're going to have the building blocks of a company that will work in the post COVID time. So what does this mean? Obviously, we've already seen that EdTech, for example, is an obvious winner, right? Post COVID, but what are other winners? Drone-based delivery are winners, ways to do fitness and wellness online will be winners. Even restaurants could figure out to be a winner by saying that let me switch to a delivery model or let me switch to a model where I send most of the ingredients and I do one-on-one cooking sessions with people to help them get the meal from start to finish, things like that. So I think what people have to do is recognize that the world is not going to be the same again, recognize very candidly what things will not work, that used to work in the pre COVID world, that will not work anymore. And do not be afraid to take the steps that will help you pivot, right? Do not be afraid to do something that is disruptive, to do something that you never did before, but you feel that is going to be important in the post COVID world and that will help you. For example, for example, even for topic, right? One of the things that we do is we give transparency to investors on how they use, how the startup is using their cash. When we used to demo this product to both startups and investors in November of 2019, people used to tell us, you're mad. They said nobody will open up their books and records. In fact, they said startups keep two books and records. One to show investors and one that is reality. This is how India operates. But that is not true anymore, right? Now you can no longer afford to be not be transparent and this has become something that has become the biggest ask from investors in the post COVID world. So that's what I'm trying to tell people, right? Ways that you did business earlier may have worked for you, but I do not think they will work in the, going forward if you cannot build trust and show value. Those are the two things that you have to focus on. Right. So the next question is, do you see migrants returning to base states in the near future? Why and how? This is a critical part. So just want to hear your perspective on this. Fair enough. I mean, so, I mean, it may seem like it's not a question that's relevant, but it's actually a question that's very relevant, right? Because migrants form the foundation of our economy. So if you're not going to find people to be construction workers, then how is the real estate industry going to get back on track, for example? So the government does need to recognize that, you know, there is, you know, I had this tweet that I said, you can raise our taxes by 40% if you want to, but 40% of zero is zero, right? You have to give us a way to make money first, only then we can start contributing to the economy. So at some point, I do think that the government will take a look back at jumpstarting the economy, and you will have to do it from the bottom to the top, and you will have to find ways where the smallest worker, domestic worker, the household maid is able to start coming back, the construction worker is able to start coming back to work, and the CEO is able to start coming back to work, right? They will have to address all of that. Right, so the next question is, how is it going to help perfect supply chain during COVID-19? So I think single stream supply chains, you're not going to see that anymore, right? When you have a dependence on a single supplier, you're going to recognize that you have to have diversification. So now from a global standpoint, what happened? There was too much dependence on China, and people have already started moving their supply to other Asian countries or to India, things like that. So I think the first thing that they're going to see in supply chain is diversification of suppliers. Then you're going to see diversification of distributors, right, because it is possible that one pizza delivery guy in Domino's falls sick. That means that entire chain is now shut down, right? Until they can test every pizza delivery guy that that particular sector had. So you will need to have both diversification of suppliers and diversification of distributors, which is not something that you had before. That means companies that help you manage that diversified list of suppliers and distributors. What do I mean by that? Every supplier may have different payment terms. How do you manage that? Every distributor may have different ways of distributing or different timelines to distribute. How do you manage that? So if you're sitting and managing that on an Excel spreadsheet and trying to make sense of it, things are going to fall down. So companies that realize that and build tools that will help you manage it are also going to be companies that will do well in these scenarios. Right, so the next question is, after COVID has ravaged our businesses, how do we make our business viable for investment? Is this something specific that investors are looking for in companies post COVID? So I think investors are looking for one maturity of the startup founder. First they're looking for attitude. They used to say this before, but actually it didn't really matter to them. It didn't matter to them that there was a 24 year old kid who said that, listen, I know how to disrupt this economy and I will do whatever it takes. Now they are looking for maturity. They are looking for experience. They are looking for people who have proven to you that they can react to these unprecedented times in a calm way, in a calm way that shows people a way out. So age has actually become something that has become a valuable commodity. So I would say that show that, if you're able to show that maturity, if you're able to show that I am able to, I am not egoistic, I will be a partner that you can work with. I will learn to pivot and I will learn to learn from my mistakes. If you can show that attitude shift to investors, then I do think that they will at least be open to taking another look at your business model and help you and help you with it and say, okay, then this is what I think you need to do and let me think about investing with you. But the number one thing is going to be attitude. So the next question is very interesting. It is how do you see real estate growth in the next one or two years in metro cities if we assume most NRIs would not be preferring other countries and can we see capital flowing into the sector? Yeah, I think it's actually a great question. So are we going to start seeing people wanting to return home?  I think it has become a starkly, it's become stark reality to people who said that I was not okay that I lived away from my elderly parents at a time when they needed help like this, right?  I actually think he may not need to issue any more green cards, right? People are going to say I want to come back home. And yes, I think that means you're going to have a huge influx of talent that is going to come back into the country. You're also going to have people who are going to bring in new ways of thinking, disruptive ways of thinking, things that they have been exposed to that perhaps they will try and see if you can make it work in India. So it's going to be really, really exciting times for that. Now I do think it is the time for the tier three, the tier two, three and four cities to rise, right? It's become obvious that you can work offline, work from home, it's going to get more and more traction. Then if you can work from home, then why do you need to work about Mumbai? I can work, I can work from Nasik if I want to and be able to deliver the same value and the same quality. So you will see an exodus out of cities, I think. So hopefully the people who are coming back with California with big houses don't need to live in cramped Mumbai apartments anymore. And they will actually be able to get a house in the country and still be able to contribute to the economy. So real estate sector need not fall down. If they figure this out and if they say that, yeah, I don't need to focus only on metro cities, I can offer options for people to live comfortably and comfortably in other places as well. But again, that means infrastructure has to hold up, right? You can't just go to places that do not have schools, that do not have hospitals. So you will see a lot of build out or a lot of investment in these kinds of subsidiary infrastructure that people need to live a good life. Also go from just the metro cities to tier two, three and four cities as well. That said, I do think that, I do not think that it is going to be work from home for everybody. I do think that there is tremendous value on people working in an office, working together, being able to do face-to-face meetings. So, trying to say 75% of my workforce will work from home doesn't feel like a very viable proposition to me. I think I would rather put it at a percentage anywhere from 30 to 50%. Great. So we do not have any further questions for now. If anybody wants to ask any other questions, please do that right now. So, okay, we just got another question. It says, how do you see the retail trend for non-essentials, unfolding, shops opening, people going out and buying, especially in metros? So I think what is essential to you and what is essential to me are two very different things. So one is somebody said this morning to me, it's not social distancing, it's societal distancing. So, if you have been inconstant in your condo and you've had AC has been running, Wi-Fi has been running, grocery has been working, the first thing that you are going to look for when they say that I'm giving you essential goods may not be what the government thinks of as essential, right? And I will be very candid and say the first thing I'm going to go and look for is wine. So you may not say that's essential, but it's essential to me. So I think slotting things as essential as non-essential is very, very relative and to some people, scented candles may be the most important thing that they want and retail will come back with a vengeance. It will come back. So do people do not need to worry about that shortage anymore as long as the government doesn't restrict distribution and delivery. If it was important to you before, trust me, it's going to be important to you again. Right, so we are on to the last two questions of the session now. The second last question is, as per you in today's scenario, what makes interest for H&Is in India as well as abroad for investment generally? People who are able to show that they're able to respond to this crisis and develop products that are well suited for a post-COVID world. If you are able to make the argument that this is why I think this particular product or this particular process is something that is going to be used extensively in the post-COVID world, H&Is will invest. Like I said, there is only so much time that you can say, okay, I'll put my cash under the mattress and not do anything. You will look for value. So if you can show people that you have a value proposition, it's going to help. Great, so I'll just merge. We just got one more question. So I'll just merge both of them. One is, will e-commerce emerge as the new retail store according to you? And the second is, do you think healthcare, FMCG, Pharma, and agro industries are going to be the growth engines for the economy going forward? Okay, so one, e-commerce, yes. I think there is no two ways about it, right? E-commerce and digital methods of shopping and paying for things, people are just going to get used to it. And unless it is super, super important that you have to touch and feel something before you buy it, I don't think you're going to see, you're going to see a lot of, I think malls are dead, for example. You know, that is an industry that is absolutely going to go away. That's my perception. But what people have to do is then, how do you make it easier for somebody to buy, right? How do you offer better ways to return things? How do you offer better ways to actually take a look at things? Maybe for example, size charts, right?  Most of the time people don't buy online because you don't know what you're going to buy is going to fit you, right? So if people can start figuring out how do I reduce the friction to e-commerce shopping, all of those retailers are going to do really, really well. But the truth is e-commerce is going to take off and in-person shopping will see a tremendous decline. Healthcare, pharma, absolutely, absolutely, absolutely, right? I think that we are recognizing a couple of things already, right? One, respect for just healthcare workers has gone up tremendously. Respect for people who do research, people who are looking for pures, people who are looking for vaccines. We are a value that we have started placing on it as opposed to celebrities. For example, has changed and I think that is not going to change back in the future. We are going to value these things more. We are going to give us support to these industries because we are going to recognize that it is a matter of life and death and we cannot ignore it anymore. So I do think these industries will do well. I also think that regulations in this industry will go through a change. Yes, you will still have areas where you will have to test a drug before it is brought to the market, but patent sharing, for example, may be relaxed, right? Because it may be much, much more important to have mass production of a vaccine than to say only the people with the patent can produce the vaccine, for example. So I do think that you will see a lot of disruption in healthcare, but for the better, hopefully. Would you quickly like to add IT industry, restaurants and beauty salons in this whole regime as well? Why not? So I think IT is different space, right? Because they are used to working in a digital world and I think their pivot is going to be much easier. Restaurants, if I have to put restaurant and beauty salons at restaurant, guys, I think we'll figure out a way out of this crisis a little bit faster because I do think it is possible. We've already seen instances in Hong Kong and some of the European countries, figuring out a way to have social distancing and still go out to eat. And I do think that, think about it, like when you order something for delivery, it is still a black box, right? You still don't know, you haven't seen the kitchen, you don't know what's going on in the kitchen. Then you have a delivery guy who's also delivering your stuff for you. I actually personally think it is much riskier to order something than actually go to a restaurant that I trust and eat from there because I know the chef, I know that he has the staff. If he can prove to me that he has tested it, I would rather that he cooks the food in front of me and gives it to me, right? So I do think the restaurants will come back and beauty salons, like how long, how long are we going to say it is okay that I don't get my hair colored or it's okay not to get my nails done, right? Again, here it is a matter of showing that you can keep us safe, right? If you can show that the food falls will fall, your number of people who can be in that particular place at any one point in time is going to fall, but I don't think it goes away. And as customers, I think we have to be willing to support them and we have to be willing to accept higher pricing as a result. If we are able to do that, then these industries will find a way to survive. I guess we'll wrap up the Q&A session now. Thank you so much, Nandini. Thank you so much for your time and being so patient while answering all the questions. And to all the attendees, thank you so much for your time as well and for participating very actively throughout the session. We hope you were able to add some value to your lives through this session. And please, if you still have any questions or if you have any feedbacks, please feel free to reach out to me and share that with me. I would love to pass on your questions to Ms. Nandini and I would also love to work on the feedback that you provide to us. So thank you so much. Would you like to say anything else, Nandini? No, I thought it was really great to get this interaction with the participants and I hope you got value out of it and it was a really great experience for me as well. Thank you, thank you. I know there are a lot of webinars, so thank you for spending this one hour with me. I appreciate it. Thank you so much. I guess we'll just wrap it up now. Thank you so much and we'll see you in our next webinar. If you have any questions, once again, please feel free to reach out to me. Thank you so much. Thank you, Nandini. Thank you, thank you everybody. I'll see you in the next webinar. Bye.


Hey, this is Brett and this 2016 Ford F-250 Crew Cab Short Box Lariat Ultimate is stock number 12497Z. We're here at Summit Automotive in Fond du Lac, Wisconsin, your new and used heavy-duty truck headquarters. This 2016 Ford F-250 has the 6.7-liter power stroke diesel engine. This truck has been fully-safetyed and inspected by our service shop. Has a fresh oil and filter change, all the fluids have been checked and topped off. And this truck is 100% ready to go. We're going to go inside, underneath, start it up, take a look under the hood. In this video, Shadow Black is the color. And we shoot all of our videos in 1080p, 60 frames per second. So if you have HD capabilities on your computer, tablet, smartphone, or television, I highly recommend turning them on right now because it is your best way to check out the quality and condition of the truck before seeing it in person. And if you like the video and how we do things here at Summit Automotive in the upper right hand part of the screen is a subscribe button to our YouTube channel. Click that and then click the bell notifications and you will get updates every time we do videos here at Summit of our new and used inventory. This one comes with some really good looking 20 inch polished aluminum American Forest rims and it has Open Country Toyo MT tires. These are 40 by 15 and a half R20LTs. They have right around, I'd say, 60% of the tread left on them, frame and underbody is in very nice shape. It has BDS shocks on it. I'm not even going to guess at what size lift this is, probably a 12 inch lift, maybe even a little bit more. You can see the frame and underbody is in excellent shape. It's very well done. I've driven this truck. It rides really nice for the size of lift on it. Front bumper and lower valance are in excellent shape. Does have factory fog lights. Headlight lenses are nice and clear and the grille is in nice condition. I didn't see any dents or dings on the hood and the passenger side front fender is in really nice condition as well. I didn't see any dents or dings on that. Passenger side rim no major scuffs or scrapes and as you go down this side of the truck take note of how clean the body is, how reflective and mirror like that paint is. We take these HD videos so if you are far away or even if you're close by and just cannot make the trip down but you're still interested in purchasing the vehicle you can see the truck, hear the truck and have confidence in the vehicle that you're looking at before you even get here so when you do get here there's absolutely no surprises and you can make a smart and informed buying decision from wherever you're at and if this video helps you make that buying decision let your salesman know that you saw the video that it was helpful and that Brett sent you. Back rim really nice condition as well, looks really good, back tires have just as much tries as the front tires and once again frame and under body really really nice and clean. As all the remaining factory exhaust get the skid plates there with the FX4 package comes with some amp research running boards very clean on that side, box is in nice shape as well. Coming around to the back of the vehicle rear bumper is in nice shape, no dents or dings on that does have a full towing package which includes the receiver hitch, four pin and seven pin wiring, the tailgate is in excellent shape as well, has a tailgate step assist, has a weather tech bed mat back here and a rugged cover, I think that's a fold up tonneau cover, step assist is in nice shape, I don't know how much it would help on this truck but tailgate shuts nice and solidly and as you go down the driver's side just as clean as that passenger side, no dents or dings on the box here looks really good and for full disclosure this back rim is just as nice as the rest and down the rest of this side of the truck looks pretty good, does have the driver's side door code entry we do have the code for this truck and if you ever want to figure out what your code is for your 11 to 16 super duty in the upper right hand part of the screen I have a video shows you how to find that on your personal truck there you have built in directional signals those mirrors are heated and their power scope so they power fold in, power fold out, power telescope, inside the Lariat Ultimate package gives you the black leather interior there are no rips or tears on those seats both these seats are power you get weather tech floor mats all the way through power pedals auto headlamps tilt telescopic steering wheel power windows power locks and power mirrors these mirrors do power fold in and you can see that both sides are working properly always like showing that and you do have to have the ignition on for the power scope feature to work I'll show you that right there it works nicely on both sides you can see that this truck has 43,530 miles instrument cluster is very nice and clean comes with the leather wrapped steering wheel Bluetooth and audio controls on the right cruise controls and information center controls on the left you do get these six speed automatic transmission with the optional tap shift this one has the Ford my touch radio and FMN serious XM radio capabilities it does have the factory navigation system on here as well you can see it does have serious right there you'd have to update the subscription note then you have your climate controls here which include your heated and cooled seat buttons as well as your dual climate controls there now you can do the more tactile climate and radio controls right there turned out four-wheel drive downhill assist control stability control has the factory exhaust break factory brake controller for upfitter switches and then a 12 volt power point and then a 110 volt 150 watt plug-in passenger side floor mat and seat are in excellent condition the headliner is in really nice shape and this one does have the power sunroof you get side curtain airbags on here and home link buttons for your garage door security systems and lighting systems this is where your backup camera shows up and that works nicely we'll take a quick look at the back seats and then we'll start it up and take a look under the hood back seats are just as clean as the front seats no rips or tears back here does have the power sliding rear window with the built-in rear to frost seats are in excellent condition has the locking storage compartment underneath the back seats and that locks with the ignition key you get the weather tech floor mats back here and then another 110 volt 150 watt plug-in and a 12 volt power point right there side curtain airbags and then behind the back seats is your factory subwoofer and tether anchors child safety locks on the back doors and the bottoms of the doors all look really good on this truck I'll start it up and we'll take a quick look under the hood starts right up no check engine lights or anything like that I would personally like to thank you for checking out the video today and hopefully from this hd video you will have been able to verify the quality condition options get a good look at the lift on this one once again under the hood we have the 6.7 liter power stroke diesel engine engine base very clean runs very smooth once again this truck has been fully safety and inspected by our service shop has a fresh oil and filter change all the fluids have been checked and topped off and this truck is 100% ready to go and I would highly recommend this truck from a quality and condition standpoint and to see more pictures of this ride or one of our other 450 new and used cars trucks SUVs minivans Wranglers half tons three-quarter tons one tons you may what we got to go to their website right there www.summitauto.com full pictures and descriptions of every single vehicle from two locations all at summit auto.com and if you'd like to check out more hd videos you can go to youtube.com slash summit auto remember to like subscribe and share on this video and all the videos that you see there click the bell notifications you'll get updates on the videos we do each and every day here at summit auto in fact in a second you will see a link to subscribe to our YouTube channel in the upper left link to more f-250 videos like this one the upper right link to this vehicle on our website in the lower left and link to one of our latest YouTube videos in the lower right click those check us out and we're super excited I'll be with this ultra clean really good looking 2016 Ford f-250 crew cab short box larry ultimate in shadow black with the FX4 package thanks again for checking out the video remember to like subscribe and share


Welcome friends and visitors to a special showing in our Monet Cafe YouTube channel of some of the artwork from our Monet Cafe art group in Facebook. July of 2018 we had the theme in our Facebook group of sunrises and sunsets and these are some of the amazing and beautiful paintings from our members and each month I have to choose one of the paintings from the group theme to be the winner and that painting will become the group header in our Facebook group for our next month's page and it's really just a hard decision for me I mean look at these paintings this is just so difficult so I thought it might be neat this month to just I don't know if I'll be able to do this every month but just to show you all of the paintings for anybody who's not in our Facebook group and I know it's going to bless your eyes and so just sit back and relax and enjoy this beautiful artwork I love the fact that it's from artists of every level so we never want to hinder the beginner artist in our group because everybody has to start somewhere so don't ever get intimidated by some of the advanced artwork you see in here because some of it's just fantastic but uh again the beginners just just enjoy this journey like I always say and don't be ashamed or afraid to share your work because we love it all the advanced artists love it so again enjoy this and I'll be quiet now and just be blessed by watching this happy painting