1
00:00:02,160 --> 00:00:04,560
And welcome everybody, to 
another Smart money circle 

2
00:00:04,560 --> 00:00:06,040
update. 
I'm Adam Sarhan. 

3
00:00:06,040 --> 00:00:08,880
With me today is Tell Jacobson, 
who's the CEO of Perry. 

4
00:00:08,880 --> 00:00:13,880
On ticker symbol is PERI Tell 
Congratulations for becoming CEO

5
00:00:13,880 --> 00:00:15,600
and welcome to the Smart Money 
Circle Show. 

6
00:00:16,280 --> 00:00:18,040
Thank you, Adam, and thanks for 
having me. 

7
00:00:18,680 --> 00:00:21,240
So tell I always like to begin. 
Can you tell us your journey and

8
00:00:21,240 --> 00:00:23,040
how you got to where you are 
today, please? 

9
00:00:23,800 --> 00:00:27,160
Yeah, absolutely. 
So I've started my journey at 

10
00:00:27,360 --> 00:00:30,960
1997. 
A company called Macromedia 

11
00:00:31,560 --> 00:00:35,280
Company. 
We invented the flash which you 

12
00:00:35,360 --> 00:00:39,680
know most of the web until maybe
10 or 15 years ago were based on

13
00:00:40,280 --> 00:00:46,680
and worked there for six years 
and was acquired by Adobe and 

14
00:00:46,680 --> 00:00:50,560
then moved from there to a OL 
part of ICQ. 

15
00:00:53,400 --> 00:00:57,600
Again, try to figure out how do 
I how do we grow the company? 

16
00:00:57,600 --> 00:01:00,610
How do we grow? 
Instant messaging company 

17
00:01:02,090 --> 00:01:07,530
basically back then with no 
funds and the idea was you know 

18
00:01:07,530 --> 00:01:10,570
we can go into all those news 
portals around the world, 

19
00:01:10,810 --> 00:01:13,330
provide them with our technology
of instant messaging. 

20
00:01:13,970 --> 00:01:17,490
They would promote that and we 
would ref share the ads. 

21
00:01:18,330 --> 00:01:22,250
And you know what turned out to 
be an amazing strategy because 

22
00:01:22,290 --> 00:01:25,850
after like a year and a half or 
so, we've made like $45,000,000 

23
00:01:25,850 --> 00:01:28,800
in in revenue. 
That was a big success. 

24
00:01:29,720 --> 00:01:34,560
Then manager company in the US 
came back, was part of the 

25
00:01:35,000 --> 00:01:38,320
mechanics on the management 
team, you know, so I learned a 

26
00:01:38,320 --> 00:01:44,240
lot about our agencies. 
Think then part of the founding 

27
00:01:44,560 --> 00:01:49,880
team of a company called Similar
Web which we were like 5 people 

28
00:01:49,880 --> 00:01:51,960
in a room trying to figure out 
okay. 

29
00:01:51,960 --> 00:01:55,560
So what do we build now, four 
years forward? 

30
00:01:56,160 --> 00:02:00,360
There were like 600 people, you 
know raised over $100 million. 

31
00:02:00,360 --> 00:02:04,800
And again, the company was IPO 
like two years ago and now in 

32
00:02:04,800 --> 00:02:08,080
the past five years, I've been 
part of Perrion. 

33
00:02:09,160 --> 00:02:15,520
Again, a great turnaround. 
I was managing the search 

34
00:02:15,520 --> 00:02:18,960
division and rebuild the 
Microsoft relationship. 

35
00:02:18,960 --> 00:02:22,320
We got to the awards for being 
the biggest supply partner of 

36
00:02:22,320 --> 00:02:26,790
Microsoft. 
And now since, you know, we 

37
00:02:26,790 --> 00:02:29,430
announced it at the beginning of
the year, but officially two 

38
00:02:30,430 --> 00:02:32,510
months ago I became the CEO of 
the company. 

39
00:02:32,510 --> 00:02:39,030
And that's, you know, in a 
nutshell, by 2026 years. 

40
00:02:39,510 --> 00:02:40,470
Love it. 
I love it. 

41
00:02:40,470 --> 00:02:44,590
So I'm still a AOL user. 
I have my AOL e-mail which 

42
00:02:44,590 --> 00:02:47,710
people still give me a hard time
about, but I remember the 90s 

43
00:02:47,710 --> 00:02:49,830
and I remember chatting in the 
chat room and all that kind of 

44
00:02:49,830 --> 00:02:52,950
fun stuff, the instant messenger
and all that kind of fun things.

45
00:02:54,210 --> 00:02:56,730
That's a remarkable storytell 
congratulations on on your 

46
00:02:56,730 --> 00:02:59,890
success similar web too. 
I mean being in that room, it 

47
00:02:59,890 --> 00:03:03,010
must have been just magnetic or 
energetic or just who knows. 

48
00:03:03,370 --> 00:03:06,930
But I'm really bullish on carry 
on from where you are and what 

49
00:03:06,930 --> 00:03:10,330
your, your skill set is and and 
where the company's position, 

50
00:03:10,330 --> 00:03:13,210
the valuation, the growth, the 
earnings are even fantastic. 

51
00:03:13,410 --> 00:03:16,810
So we've got a lot to discuss, 
but I'm going to let you speak. 

52
00:03:16,810 --> 00:03:18,850
Please tell us about your 
business and some of your 

53
00:03:18,850 --> 00:03:21,130
competitive advantages. 
Yeah, absolutely. 

54
00:03:22,270 --> 00:03:26,270
So at the end of the day, you 
know Perion is I think it's it's

55
00:03:26,270 --> 00:03:30,230
very easy what we do it's, it's 
hard, the mechanics is hard, but

56
00:03:30,230 --> 00:03:33,590
the story is easy. 
So everything we do is basically

57
00:03:33,590 --> 00:03:38,430
connect advertisers with their 
consumers and we do that through

58
00:03:38,430 --> 00:03:40,270
technology. 
So we're not a lot of people, 

59
00:03:42,030 --> 00:03:50,150
roughly around 500 people, but. 
Our entire goal is how do we 

60
00:03:50,150 --> 00:03:53,830
build more technology to connect
advertiser with consumers. 

61
00:03:54,230 --> 00:03:58,430
We do that through, you know, we
have publisher solution with 

62
00:03:58,470 --> 00:04:04,110
video display high impact. 
We have advertiser solution. 

63
00:04:04,630 --> 00:04:08,270
You know, we have a division 
called Undertone, which works 

64
00:04:08,270 --> 00:04:12,390
with all the biggest agencies in
the US with the biggest brands 

65
00:04:12,790 --> 00:04:16,950
and we're building the creatives
and we have the search division.

66
00:04:18,010 --> 00:04:22,370
And it would basically do and 
combine all the technology in 

67
00:04:22,370 --> 00:04:26,010
one place, 1 centralized place 
and then we get all those 

68
00:04:26,010 --> 00:04:30,410
insights that can help us grow 
into different segments, right. 

69
00:04:31,210 --> 00:04:34,490
And a lot of time we would 
invent our own technology in 

70
00:04:34,490 --> 00:04:37,290
house or we would buy that, 
right. 

71
00:04:37,290 --> 00:04:42,410
So we actually been working on 
CTV technology in the past two 

72
00:04:42,410 --> 00:04:45,890
or three years, which grew very 
nicely. 

73
00:04:46,480 --> 00:04:51,000
We've built our retail 
technology which groups very 

74
00:04:51,000 --> 00:04:54,320
nicely, but sometime we would 
just buy a company. 

75
00:04:54,320 --> 00:04:56,960
So we bought like two years ago 
we bought a company named 

76
00:04:56,960 --> 00:05:03,280
Vidazoo, which provides, you 
know, display and video solution

77
00:05:03,280 --> 00:05:07,360
for websites and it grows very, 
very fast. 

78
00:05:07,760 --> 00:05:10,680
And you know, a lot of 
publishers kind of publishers 

79
00:05:10,680 --> 00:05:13,040
love them. 
We're getting more and more 

80
00:05:13,040 --> 00:05:16,300
clients. 
And it works great. 

81
00:05:18,740 --> 00:05:21,500
I love it. 
So you're in a space, the 

82
00:05:21,820 --> 00:05:25,900
advertising space, we've had a 
lot of evolution go on in that 

83
00:05:25,900 --> 00:05:29,580
space and a lot of it's like 
Darwinism, the strong survive 

84
00:05:29,580 --> 00:05:31,740
and the strong thrive. 
Clearly, you're strong and 

85
00:05:31,740 --> 00:05:33,900
you've survived. 
So my hat's off to you. 

86
00:05:34,900 --> 00:05:37,660
It's really, really great story.
And even the valuation is very, 

87
00:05:37,660 --> 00:05:39,420
very attractive. 
Your earnings are expected to 

88
00:05:39,420 --> 00:05:42,700
grow significantly over the next
several years and they've been 

89
00:05:42,700 --> 00:05:45,540
growing quarter over quarter. 
Sales have been growing double 

90
00:05:45,540 --> 00:05:46,980
digits over the last four 
quarters. 

91
00:05:46,980 --> 00:05:49,340
Earnings have been up double 
digits and you've got very 

92
00:05:49,340 --> 00:05:51,380
healthy pretax margins and all 
that fun stuff. 

93
00:05:51,380 --> 00:05:55,220
So I'm a big fan. 
Let's shift the conversation a 

94
00:05:55,220 --> 00:05:58,220
little bit and talk about risk. 
How do you handle risk? 

95
00:05:58,260 --> 00:06:00,740
You've had a very successful 
career. 

96
00:06:00,740 --> 00:06:03,540
You've been many places. 
And what are some mistakes do 

97
00:06:03,540 --> 00:06:05,620
you see people make with respect
to risk management? 

98
00:06:06,500 --> 00:06:09,980
Right. 
So that's a great question and I

99
00:06:09,980 --> 00:06:12,620
want to go back to what you just
said, you know. 

100
00:06:13,600 --> 00:06:16,400
We Darwin. 
It's not the strongest species 

101
00:06:16,400 --> 00:06:21,520
that survive. 
It's a specie that's adjusting 

102
00:06:21,520 --> 00:06:24,240
to change. 
Is the fastest, right? 

103
00:06:26,160 --> 00:06:31,080
And and again, I think the fact 
that we're such a small company 

104
00:06:31,240 --> 00:06:34,440
in the amount of employees and 
anything is based on technology,

105
00:06:34,440 --> 00:06:37,240
we can do very fast changes. 
I love it. 

106
00:06:37,680 --> 00:06:40,640
And I think a lot of companies 
just. 

107
00:06:43,010 --> 00:06:46,530
They fall in love with the the 
angle they took or with the 

108
00:06:46,530 --> 00:06:50,050
technology they've built. 
And they're not moving fast 

109
00:06:50,050 --> 00:06:52,170
enough. 
They're not changing what 

110
00:06:52,170 --> 00:06:56,730
they've built fast enough. 
And that's what I've seen that 

111
00:06:56,730 --> 00:07:02,690
in the past 26 years. 
I was part of ICQ and back then 

112
00:07:02,690 --> 00:07:07,450
we thought we were positive that
the only threat we have is 

113
00:07:07,450 --> 00:07:12,210
Microsoft Messenger. 
Microsoft met None of those 

114
00:07:12,210 --> 00:07:14,810
companies exist anymore, right? 
None of those products. 

115
00:07:15,290 --> 00:07:19,690
And nobody could actually see 
that Facebook is gonna come and 

116
00:07:19,690 --> 00:07:22,450
messaging is gonna move into 
social, right? 

117
00:07:24,130 --> 00:07:30,970
And I think that's the only 
thing that people need to 

118
00:07:30,970 --> 00:07:33,730
remember. 
Can you change fast enough? 

119
00:07:36,210 --> 00:07:39,650
And do you have, you know, the, 
the mentality within your 

120
00:07:39,650 --> 00:07:43,730
management to change and not 
fall in love with solution that 

121
00:07:43,730 --> 00:07:46,250
worked in the past but are not 
going to work in the future? 

122
00:07:47,250 --> 00:07:49,410
I love that you know that the 
common theme that's always 

123
00:07:49,410 --> 00:07:52,050
looked forward, not backwards, 
It's like driving in the 

124
00:07:52,050 --> 00:07:53,730
rearview mirror. 
Just because this has worked in 

125
00:07:53,730 --> 00:07:55,690
the last 10 years doesn't mean 
it's going to continue to work 

126
00:07:55,690 --> 00:07:58,730
in the next 10, right? 
That's actually fantastic. 

127
00:07:59,010 --> 00:08:00,650
So let's talk about some 
timeless lessons. 

128
00:08:00,650 --> 00:08:02,490
Please tell that you've learned 
that you'd like to share with 

129
00:08:02,490 --> 00:08:13,070
the audience. 
You know, I think, you know, 

130
00:08:13,070 --> 00:08:21,150
going back like 25 years ago, 
there are two things. 

131
00:08:21,430 --> 00:08:24,670
One is when I work at 
Macromedia. 

132
00:08:25,070 --> 00:08:28,910
You know, 25 years or 26 years 
ago. 

133
00:08:28,910 --> 00:08:32,190
The Internet wasn't that 
sophisticated back then, right? 

134
00:08:33,210 --> 00:08:37,330
And we had people selling those 
software, which were basically a

135
00:08:37,330 --> 00:08:42,809
box with a book and a CD. 
And we had to call all those 

136
00:08:43,330 --> 00:08:48,450
companies, you know, newspapers 
or web developers, and to try to

137
00:08:48,450 --> 00:08:52,450
sell them that. 
And you know what I've done is 

138
00:08:53,090 --> 00:08:58,250
I've built a software that can 
automatically send faxes 

139
00:08:58,570 --> 00:09:00,930
overnight to all those 
companies. 

140
00:09:02,620 --> 00:09:07,220
And you know, thinking about it 
now, that sounds kind of 

141
00:09:07,220 --> 00:09:10,740
primitive, sending faxes, right.
But that was basically 

142
00:09:10,740 --> 00:09:15,660
performance marketing 1997. 
And we've made millions of 

143
00:09:15,660 --> 00:09:18,060
dollars from performance 
marketing over fax. 

144
00:09:20,460 --> 00:09:23,020
You know, I would never do that 
again now with faxes. 

145
00:09:23,020 --> 00:09:26,220
But again, I you know what? 
What I've learned is marketing 

146
00:09:26,220 --> 00:09:29,890
is always the same. 
Channels might change, but if 

147
00:09:29,890 --> 00:09:34,130
you can identify the message and
the audience and how to get to 

148
00:09:34,130 --> 00:09:40,250
it as fast as possible, then you
know that's the key and that. 

149
00:09:41,810 --> 00:09:46,410
And you know, and the second 
thing is, you know, like again, 

150
00:09:46,410 --> 00:09:51,450
25 years ago I was, I was young 
and I was in charge of, you 

151
00:09:51,450 --> 00:09:53,090
know, messaging and stuff like 
that. 

152
00:09:53,090 --> 00:09:57,410
And I I accidentally sent a 
message an e-mail promotion. 

153
00:09:58,050 --> 00:10:01,290
To all our clients. 
But I accidentally said it. 

154
00:10:01,450 --> 00:10:05,050
Everybody saw their own 
everybody's else e-mail, right? 

155
00:10:05,570 --> 00:10:10,170
Was on BCC, was on C and on two 
and everybody got pissed. 

156
00:10:10,530 --> 00:10:14,370
Like customers again that that 
took like 24 hours and then 

157
00:10:14,370 --> 00:10:17,850
everybody forgot about it. 
But during that time, because I 

158
00:10:17,850 --> 00:10:20,610
was so young, you know, I came 
to the CEO of the company, I 

159
00:10:20,610 --> 00:10:24,010
said, you know, I I quit because
I've made that big of a mistake.

160
00:10:24,530 --> 00:10:28,340
And he said, you know. 
Only people that actually do 

161
00:10:28,340 --> 00:10:31,940
things makes mistakes. 
So you know, don't beat yourself

162
00:10:31,940 --> 00:10:34,620
too much. 
You know, mistakes are natural. 

163
00:10:34,620 --> 00:10:36,100
It means that you actually did 
something. 

164
00:10:37,580 --> 00:10:43,140
And his response, you know, was 
so motivating. 

165
00:10:44,140 --> 00:10:48,100
And I, you know, I follow the 
same thing when people make 

166
00:10:48,100 --> 00:10:52,460
mistakes, and if they own the 
mistake, that's great. 

167
00:10:53,010 --> 00:10:54,770
You know, I don't. 
I don't want people to make 

168
00:10:54,770 --> 00:10:56,650
mistakes. 
But at least if they own it and 

169
00:10:56,650 --> 00:11:00,410
they learn from that, I think 
that's the best way to grow. 

170
00:11:01,050 --> 00:11:02,730
Yeah, I love that. 
That is so powerful. 

171
00:11:02,730 --> 00:11:04,770
It's almost one of those things 
where it's like how many times 

172
00:11:04,770 --> 00:11:06,770
you failed today if you didn't 
fail. 

173
00:11:07,050 --> 00:11:08,250
Yeah, you're not doing the right
job. 

174
00:11:08,610 --> 00:11:11,530
I love that. 
So timeless mistakes that you'd 

175
00:11:11,530 --> 00:11:12,970
like to share with the audience.
Please. 

176
00:11:15,530 --> 00:11:17,650
Time mistake. 
Except for the other one. 

177
00:11:18,210 --> 00:11:21,050
Not not making those mistakes, 
just staying back. 

178
00:11:21,370 --> 00:11:27,170
I love that. 
Listen, you know I think 

179
00:11:27,250 --> 00:11:31,130
everybody's making mistakes. 
Everybody can would would wish 

180
00:11:31,130 --> 00:11:34,050
they have a time machine going 
back and fixing things. 

181
00:11:35,010 --> 00:11:38,770
I think. 
I think making mistake is 

182
00:11:38,770 --> 00:11:41,010
natural. 
I think making mistakes, if you 

183
00:11:41,010 --> 00:11:46,290
learn from it, that's totally 
fine and I think great 

184
00:11:46,290 --> 00:11:49,130
entrepreneurs are the ones who 
are not afraid of making 

185
00:11:49,130 --> 00:11:53,340
mistakes and. 
They should embrace it. 

186
00:11:53,860 --> 00:11:56,420
Yeah, I love that. 
So almost the best thing to do 

187
00:11:56,420 --> 00:11:59,060
is make those mistakes and lean 
into it. 

188
00:11:59,700 --> 00:12:01,700
I love that. 
That is really, really powerful.

189
00:12:02,700 --> 00:12:04,700
OK, next question about 
leadership. 

190
00:12:04,700 --> 00:12:07,100
What makes a great leader? 
And what are some lessons that 

191
00:12:07,100 --> 00:12:08,780
you've learned about leadership 
that you'd like to share with 

192
00:12:08,780 --> 00:12:09,540
the audience? 
Please. 

193
00:12:12,500 --> 00:12:19,700
From my experience when I work 
from other CEO's, I think what 

194
00:12:19,700 --> 00:12:23,230
separated. 
The most powerful CE O's and 

195
00:12:23,230 --> 00:12:27,510
successful CE O's from others is
their ability to lead. 

196
00:12:28,110 --> 00:12:31,870
I think the I mean the word 
leadership is, if used 

197
00:12:31,870 --> 00:12:35,230
correctly, it's actually leading
people by example, right? 

198
00:12:35,750 --> 00:12:38,750
Showing them, showing them the 
way, showing them that your 

199
00:12:38,750 --> 00:12:41,950
vision, making sure they have 
the right tools. 

200
00:12:41,950 --> 00:12:45,110
They have you know, everything 
they need to succeed, and if 

201
00:12:45,110 --> 00:12:50,870
they don't succeed, teach them 
how to you know. 

202
00:12:52,030 --> 00:12:55,110
I've I've worked with in so many
different companies. 

203
00:12:55,350 --> 00:12:59,470
Some CE O's were great leaders, 
some CE O's were not 

204
00:12:59,750 --> 00:13:03,990
unfortunately like you would 
expect statistically. 

205
00:13:06,350 --> 00:13:11,950
But again, you know, set an 
example, have a clear vision, 

206
00:13:12,430 --> 00:13:18,350
have clear KP i's of what you 
think is successful, and teach 

207
00:13:18,350 --> 00:13:20,930
people how to get there. 
You don't expect people to 

208
00:13:20,930 --> 00:13:23,970
actually know how to get there 
and surround yourself with 

209
00:13:23,970 --> 00:13:27,770
people that can actually grow. 
That's really powerful. 

210
00:13:28,090 --> 00:13:30,690
Let's talk about adversity and 
obstacles. 

211
00:13:30,690 --> 00:13:33,610
So how do you handle adversity 
and what are some obstacles that

212
00:13:33,610 --> 00:13:34,930
you've had to overcome along the
way? 

213
00:13:38,610 --> 00:13:43,770
Listen, I think in general being
a CEO is only dealing with 

214
00:13:43,770 --> 00:13:46,650
challenges, right? 
Nobody comes to you when things 

215
00:13:46,650 --> 00:13:49,130
works right. 
You've never heard about things 

216
00:13:49,130 --> 00:13:51,250
that goes. 
Nobody calls you in the morning 

217
00:13:51,250 --> 00:13:54,210
and say, you know, today 
everything works perfect. 

218
00:13:54,730 --> 00:13:56,130
You don't get out of those phone
calls. 

219
00:13:56,930 --> 00:13:58,890
It's only things that don't 
work. 

220
00:14:00,250 --> 00:14:04,970
And you need to be very 
resilient about, you know, 

221
00:14:05,690 --> 00:14:13,050
getting 20 new challenges, 20 
new risk factors today and to 

222
00:14:13,050 --> 00:14:16,770
make sure you know you can 
handle that, you can make fast 

223
00:14:16,770 --> 00:14:19,210
decisions. 
With clear Kpi's. 

224
00:14:19,210 --> 00:14:21,850
OK, so this is what happened. 
This is what we need to do. 

225
00:14:21,850 --> 00:14:26,170
And let's see if that works and 
to stay calm. 

226
00:14:27,010 --> 00:14:31,690
Because the end of the day, if 
if if the CEO gets nervous, 

227
00:14:32,570 --> 00:14:37,450
everybody else loses it, right? 
You want to make sure you stay 

228
00:14:37,450 --> 00:14:40,090
calm, you have the answer, and 
if you don't have the answer, 

229
00:14:40,090 --> 00:14:42,290
you know, that's also fine. 
Say you know what? 

230
00:14:42,330 --> 00:14:45,050
I don't have the answer, but I 
think that's the right way to 

231
00:14:45,050 --> 00:14:47,170
go. 
Let's see if that works. 

232
00:14:48,200 --> 00:14:54,320
I think people appreciate that 
the what the best piece of 

233
00:14:54,320 --> 00:14:57,240
advice you'd like to give the 
audience or give your 30 year 

234
00:14:57,240 --> 00:15:12,760
old self. 
I think, you know there's 

235
00:15:12,760 --> 00:15:17,270
there's a rule saying that. 
The most simple answer is 

236
00:15:17,270 --> 00:15:21,790
usually the right one, so don't 
over complicate answers. 

237
00:15:21,790 --> 00:15:25,350
If you're looking for an answer,
usually is the simplest one, 

238
00:15:26,190 --> 00:15:28,910
right? 
If you believe in a company you 

239
00:15:28,910 --> 00:15:31,590
know, go with it. 
If you believe in a story, if 

240
00:15:31,590 --> 00:15:34,870
you believe in the product, if 
you believe in the industry, you

241
00:15:34,870 --> 00:15:37,630
should be with it. 
Don't do things you don't 

242
00:15:37,630 --> 00:15:43,790
believe in and and again, don't 
try to figure out over 

243
00:15:43,790 --> 00:15:47,300
complicated answer. 
If the answer is over 

244
00:15:47,300 --> 00:15:50,060
complicated, usually not the 
right answer. 

245
00:15:50,900 --> 00:15:51,980
Wow I love it. 
So tell. 

246
00:15:51,980 --> 00:15:54,100
You've given us a lot of really 
good wisdom today. 

247
00:15:54,700 --> 00:15:57,500
Forget the strong survive, it's 
the ones that are able to adapt 

248
00:15:57,500 --> 00:16:01,300
the fastest survive. 
I love that number one. #2 Think

249
00:16:01,300 --> 00:16:05,340
quickly, but stay calm and make 
sure you have clear KPIs so you 

250
00:16:05,340 --> 00:16:09,930
can measure everything. 
And then also from a mistake 

251
00:16:09,930 --> 00:16:13,010
standpoint, understand it's okay
to make mistakes and lean into 

252
00:16:13,090 --> 00:16:14,490
it. 
Don't shy away from it because 

253
00:16:14,490 --> 00:16:16,370
most people are clammed up and 
they don't live to their 

254
00:16:16,370 --> 00:16:18,730
potential because they're in 
fear of making mistakes. 

255
00:16:18,730 --> 00:16:20,010
And you're just saying do the 
opposite. 

256
00:16:20,010 --> 00:16:21,970
It's okay to make a mistake and 
then own it. 

257
00:16:22,530 --> 00:16:23,170
Yeah. 
And own it. 

258
00:16:23,490 --> 00:16:25,250
I love it. 
Well, now this has been 

259
00:16:25,250 --> 00:16:28,850
absolutely fantastic investors 
ticker symbols PERI and 

260
00:16:28,850 --> 00:16:30,490
hopefully tell we'll have you on
again soon. 

261
00:16:31,050 --> 00:16:32,450
Thank you so much today. 
Thank. 

262
00:16:33,170 --> 00:16:33,250
You.