00:00We met through mutual friends. And originally, Walter had a business run with he and a group of very talented Stanford AI professors and others. And they were in the NFT business, which was not something that I was particularly interested in.
00:18I think that what occurred is we started talking. And at the last part of our discussion, I said to Walter, I'm curious, can you watermark or neural fingerprint songs? And he said, of course, it's elementary, which was an immediate put down of me because I don't find anything he does elementary.
00:37And I said to him, we have a new business. We are going into the IP protection business, something that many of us in the media business have been working on since inception.
00:48I picked up the phone and called a longtime friend, Lucian Grange, who runs Universal Music.
00:53The minute I told him what it was about, and we both agreed that piracy has been the bane of the existence of IP holders for posterity.
01:01Lucian instantaneously, after hearing about the tech, Walter's credentials and his partner's credentials, said, I'm in.
01:10We started with music because it was, frankly, the fastest and easiest way to express our technology.
01:16We're moving to video and sports next.
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