Mr. Sean O'Sullivan:

We also talked about the failure rate. As venture capitalists, we do not tend to look for more than 30% or 40% of firms to succeed, even with the substantial level of funding we give them. I agree with the Chairman's point that while a success rate of 97% sounds like it is a success, one must ask how truly successful it is. We are not averse to failure because we know that if we try to reach for the mountain, rather than for the molehill, we can create great things that have much bigger impact on changing the world.