Jákastið, hur ekki valdið blingi jákvæðni og stránkæðalegi.Jákastið er í bóði Lindre Virnet, Pizzapoppo Lari og Eygjurs Kristall.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.Þú ert fráper, ástofriður.the passion and you seethis guy will come throughso you know since I starteddoing this and2018 is when I launched my seedfund, the first fund which wasIceland Venture Studioand there you know I wrote all thisbig thesis abouthow the world will beand by the way a lot of the things that Iwrote about has come trueabout AI and dataand technology and many thingsbut I basically threw itall away, I basicallysaid you know what is the X factorin all of this, it's thefounderso the second fund was calledFounders Ventures becauseof that, because I realizedall those other things are not asimportant as findingthat person with the twinkle in the eyewhen they're talking aboutwhat they're buildingand so we changed our thesisyou know what's our thesisit's mission drivenpeople working onhard problemsso you're back on peoplethat's itby the way the world has justshown thattechnology is no longerinaccessibleexactlyit's become democratizeda farmerin Indiawith his phone is able toaccess the sameartificial intelligenceas you and I or anybody elseyou know nothing has changed in thatwhich is very true with the internetas well but there was alittle bit of a step functionfor internet, you need to understanda little bit of the technologybut now with AIyou don't need to understand any technologyyou just need to have questionsif you have questions the AI willguide you, you can learnany skill you want but you need to havethe commitment to work on itright?there are no easy answersyou'll get answersyou'll get all the toolsbut end of the day the effortthe effort is stilla human agency problemand that's the beauty ofthe fast world we live in todaywe always have to have this humantouchI don't think that is ever going to go awayand my betin all of this is thatI always bet on the humanagency problemI really think the willof the human torise abovewhat anybody else setsis a uniquely humanthingmachines will get very good at lotsof thingsbut they will never maybe overtake ourthere isthinking within the artificial intelligencecommunity that when we getto artificial general intelligencewe don't matter anymoreI don'tbuy thatI don't buy thatI think artificial general intelligencewill figure a lot ofthings and I come backto the question that was postedto EinsteinI don't know if you know this or notbut I always kind of get remindedso people asked Einsteinand by the way maybe they asked himmaybe they didn't I don't knowbut he gets credit for everythingat least history says soso they asked himif God showed in front of you todayand he saidwhat question would you ask himso he startedby saying oh I would ask himhow was the universe createdand then he said no no no no nostrike thatI will ask him whywas the universe createdthe why exactly that's a greatpoint and I thinkthe how part he said no nothat's not relevant because if Iknow the why after thateverything is just mathematics I can figureit outbut the why part I don't knowthe how part we can figure it outthe same is truewith artificial general intelligencebecause in my opinionwhen there is artificial general intelligenceand hopefully we all are ableto access itin my opinion that's like Godyeah exactlyand the unfortunate thing is thatyou can't ask thatGod why was the universecreated because it wouldn't knowno exactly it wouldn't knowbecause it is built onthe human knowledge baseright the entire humanknowledge base is what allowed it tobuild it but itcan't rise aboveso it has a caplike and that's theinteresting thing if we getphilosophical for one secondthat for me is the beauty of the worldthat evenhas admittedthat science actually do have a capwhich we can'tand maybe we'll neverfigure out where thatleads us and that's the beauty of lifelike in theGreekGodthingthat philosophythe God saidoh I wish we were humanand the human saidwhybecause every day can be your lastyou can actually enjoyI meanand that'sthat's the beauty of life for meand it's really fascinating tothink about it in theartificial intelligenceif we go back to the innovationthat it actually has a capand that the human brainthe human workpower the human forcethe human natureis still aboveand will always be aboveI don't know how peoplethink about this and I alwaysask myselfwhen I'mI wake upyeahwhat am I really excited aboutyeahandwhat reallygives methatinspirationor the energyto dowhatever that I doyeahI don'tI can'tput my finger on it yetnoandthat's actually really empoweringbecausebecauseyou're a few years older than mesoso I'mat least I'm at the right pathstillnot knowingI thinkI thinkI thinkthethe curiosityyeahthe curiosity partoflooking atthe world likewith a child's eyeis whatI would wishmore of usto doyeahrightbecause I thinkwhat has happenedis that we thinkthat we have figured it all outyeahI don't think that's trueI think we have figuredsome things outbut I think there's so manyother things that we haven'tfigured outoh noandI thinkthis alsomaymake memore optimisticabout the worldyeahI agreerightbecause the thing is thatif you figured everything outjust like as you saidif you are like a godthen you knowthere's nothing to look forward toexactlyrightthe human experiencewon't be what it is todayand I believethe important thing is thatwe all need to realizewhatever looks terribleit'll passit always doesI meanelectricitybecameelectricitya real thingjust because of curiosityI would imaginethe airplanes just camefrom pure curiositywe can'tit's so truewe neverwe neverwe're never the finished articlewe always have to be humblelike we talked aboutbefore we startedand neverbecausethey say in the sports sectionlike for football playersif they think they're the finished articlethey go downhill from thereyeahI meantheyou knowwe were justbriefly talkingoutsideand I was talking abouthow neurosciencehas mappedour ego selfand the unconscious selfwe knowwhich part of our brain workswhen we think about our egoso ego is whattells that you are finishedyou're doneyou're the greatestall thatand then the unconscious partis what reallymanifests itselfwhen you're actuallygoing out on a runand you're on that laststretchyou knowlike it's not your egothat's pushing you throughit is the other partsthat's pushing you throughandbeing able tobe humbleisactuallyquieting your ego selfyeahandthis is whatyou knowthe ancient philosophieshave always taughtwhich isyou knowBuddhismHinduismall the religionstalk about itif youhave the capacitytoquiet youregonarrative selfthe whole worldopens up to youexactlyyou knowandI'm not sayingthat everybodyshould pursue thator anything like thatbut I thinkthat it's importantif you're reallycurious personand if you'reopen mindedyou can'tget therewithoutquietingyour ego selfexactlyand I likethe humble partbecauselike we talked aboutbeforewhen you'reinnovatingyou have to behumblewhen you getfundedtwice as humbleyesI think sobecausethen you actuallyhave a responsibilityno nothere is evenmore to thatwhen you areinnovatingyou have to behumblewhen you getfundedyou should bedoubly humblewhen you exityou have to betriply humbleexactlyrightbecause you exitand you aresuddenly richand you havea lot of moneyin your bankthat's whenyou should becometriply humblebecauseand startcontributing toyeahI meanyou knowby the waymoney is a tooljust likeartificial intelligenceis a tooland sometimesit controls usyeahandif you're self awareit won't control yourightyou knowwhen you're beingcontrolledwhen you're notbeing controlledandmy recommendationto everybodywho ismaybeyou knowat the exitormade a lot of moneyis thatpick what youcare aboutandspend all the moneyon thatyeahand hopefullywhat you care aboutmaybe makeshumanity betteryeahyou knowlike the humanexperience betteryeahI meanthat's howgreat thingsget builtget builtand are accomplishedI meanthat's reallyandbecause we're talkingabout the innovationin generalin Icelandfor examplebecausenowwe arewhat400when you came herewe were30010002631000actuallyexactlyyeahokto beto bespecificyeahspecificbut nowwe're like400or something1000butthe powerin this countryto innovateisastonishingand we arewe arewe arefor mewe arethere's some powerin IcelandweI meanI can't put a wordyou knowtoand I can'tunderstand maybebuthow do youhow do youlikefor the last few yearshow has innovationin IcelandI meanhow is ithow is it nowtodayI meanhow has ithas it grownin some partsorrightso I meanthebecause I've kind ofseen itfrom the very early daysyeahand I can saythatthe ambitionof foundersyeahis obviouslymuch biggeryeahthey're actuallythan beforemaybethan beforeyeah yeah yeahthey aresuddenlythey feelthey have the permissionto dreambiggerokayand to go afterbigger thingsyeahandI think that's a good thingyeahof coursebig thingsare hard thingsyeahandthat also meansthat we haveto work hardto support themand help themyeahfigure those things outand I thinkwe can doway betterin that spacein my opinionI think the frameworksare therethe support systemsare therebut this iskind of likeyou knowa childyeahyou have toconstantly feed ityeahit has to be nurturedit has to be nurturedyeahyou can'tthink of itas a transactionnoyou knowit's kind of likean investmentit takes timeto growby the wayone of thesecret weaponsof investingand this isthe eighthwonder of the worldit's calledcompoundingyeahrightcompoundingis somethingmost peopledon't reallyunderstandhow it worksbutinnovationis alsocompoundingbecauseif you planta seedand youcontinuouslycompoundthatideato saythat weas a societycan solvehard problemsthe worldis facingeventuallywe willyeahexactlyand by the waywe have alreadyexamples of thosesuccess storiesthat we don't haveto be shyabout talkingexactlythat's a good pointand we havein my opinionwe have to maybetalk abouta little bit moreand be moreyou knowlike we sayin Atlantikhave ourkassanútand just be proudof ourinnovation storiesI agreeand you knowIso I have touse someexamples thathappened duringthis referendumbecauseit kind ofgives alittle bitof contextI sharedthe talkthat wasgiventhe eveningbeforethe electionwhereSigurðurtalkedproudlyaboutwhatIcelandhas doneasasmallcommunityand Itranslatedthat intoEnglishbecause a lotof my readersare comingfrom all partsof the worldand Iused thatspeechand I saidI voted noand I'mproudof being partof thisyeah you've beenreally vocalabout itand I like itand you knowI'm very proudof this historyyeahand I wasactually attackedreallyI was attackedpersonallyby sayinghow dareyou invokethese emotionsfor thisreferendumwhatand I saidhold onI should notbe proudexactlyshould we justsuppress ourselvesshould Icelandersnot be proudof whattheir fathersand grandfathershave doneexactlythat makes no sensenoit doesn'twhywhywhywhyshould weshrinkyeahexactlyI shouldn'tshrinkI fold for othersand I have no chancenoandandandandandandandI made a pointof sayingfighting backand I saidnoI'm proud of thisI will say it out loudwhy shouldn't I say it out loudexactlymy question iswhy are you not saying it out loudwhat are you ashamed ofbeing a native Icelanderyou should besaying this out loudand maybe with awith a microphoneexactlybecause it's trueyou knowI saidplease tell mewhat of that is not trueyeahit is truewe did fighta lotoflotof hurdlesyeahand we areaveryyou knowsought after societylot of peoplemove hereto workand livewhyfor opportunitiesfor opportunitieswe have createdthose opportunitiesI meanI meanjustjust you knowalittlelikeexample ofopportunitiesI meanto be educated hereyeahI meanbecause II recentlyfinished my degreein business innovationyeahandbusiness venturesand I meanI paid75,000for the whole yearin a master's degreefor a master's degreein one of theI thinktop 400universities in the worldI meantalking about opportunitiesyeahI meanI thinkthis is whatIceland has createdrightwhich iswe have createdequal opportunityfor anybodyhereto striveand buildwhatever they wanthave a good lifeyeahgood lifequality of lifewe have a goodsystemthat supportspeople when they're downyeahwe have many thingsgoing for uswhy are weshying awayfrom talking about itexactlyI don't knowI don't understand thatI meanweandon that matterwe have tolike we saidlike ourwhatwe maybe havetwo unicornsor somethingyeahwe have to talkabout them moreI meanthose are exampleswho can inspiregenerationsand generationsof peopleabsolutelyI meantwo unicornsin the past decadeyeahin the past decadeyeahso you knowif we go back in timewe obviouslyhave more unicornsnot the traditional wayas is describedby Silicon Valleyno no noexactlywe have builtglobal companiesfrom Icelandso that it's not likewe don't knowhow to do itwe know how to do itand I thinkthe next generationshould actuallystand on the shouldersof giantswho built these companiesto say thatwe can buildthe next unicornsit's doableit's possibleand I100% believeand I also say thisI put my mouthwhere my money isrightthe same wayI only talk about itbecause Iconstantlyinvest in founderswho are working onhard problemsgoing afterhard thingsit takes timeto build a unicornit doesn't happenovernightit's not a quick winit's a hard problemno I meanI meanI thinkGumti Fertramwas working onon casesI don't knowfor how longyeahI meanI knowI know exactlyhow longyeahhe workedfor almost14 yearsyeahyou knowexactlyand he isin my boardso patienceis a virtueyou have to be patientyeahand you knowI wouldI let himtalk abouthis successyou knowbut obviouslyI've heard himtalk throughsome of these thingsbecause he's in my boardhe's an investorin my fundand you knowthere were timeswhen he had to goand get another jobyeahyou knowdo consultingdo whateverto continuebuilding on thatvision and dreamand building a lifeon the sideI meanyeahand I thinkthis is whata lot of peopledon't seerightthey only seethe end productexactlythey don't realizethat it tookyearsofsacrificewe always seejust the finished productand Iyou knowas I saidI'm so privilegedbecause I get to seethe sacrificesyeahthe founders makeevery dayexactlyyou knowin my fundwhen we investin any founderwe commitone hourI commitone hourevery weekI talk to themevery weekI've done thisfor each founderfor each founderoh that's greatI have done thisfor 16 yearsyeahI have not missedone weekyeahevery timea founder has a callthey have my phone numberthey call meany timeI'm availablenon-negotiablenon-negotiableand I basically sayI don't need a board seatI'm not too stricton the termsof the investmentbut what's not negotiableis that one houryeahyou knowwe have to talkand the reasonwhy I givethat one hourisbecause I knowthe pathyeahit is a verylonely pathyeahso founderscan saysome thingsto their co-foundersbut they cannotsay some thingsto their co-foundersyeahthey can saysome thingsto their boardyeahthey cannot sayother thingsto their boardexactlythey can saysome thingsto their investorbut they cannot saysome thingsto their investoryeahbut in that one hourthey can tell meanythingyeahand no judgmentno judgmentnonoyou knowthere are no filters thereexactlyandIfor the greater goodnot only for the greater goodbecauseI intimately believein the founders pathyeahyou knowI knowit's a very lonelydark pathyeahand if you don't havesomebody walkingbeside youit gets even more lonelyit's like a football managerwho has actuallyplayed the game beforeexactlybeen a playeryeahand the thing is thatnot all football managershave the empathyto actually walk throughexactlyin that pathand I think that is whatyou knowI continue tolearn to doby the wayI'm not perfectbut I try everynobody isit's beenit's been 16 yearsyeahand every founderthat I invest inI tell them thisit's a trust gameyeahjust becausewe wrote the checkyeahthey don't have to trust meexactlybut in this one hourI will earn my trustyeahyeahand I like thisbecausebecauseI thinkwhen founders getget financedthey thinkmaybeI meanyou have all the cardsyeahif you likebutI loveI love thisthis human wayof talking topeopleandbecauseI believe in thein the sociologicalsociological part of thingsandandandandfor methe sociological magicisis where the magic happensyeahandthrough conversationsthrough trustthrough beliefthroughthroughno filterthroughthrough justyou knowthe humanhuman touchandbeing vulnerablevulnerablebeing able tohonestly talk aboutthings you're struggling withyeahIas I saidit's kind of liketalking to a psychologistyeahyou knowit'sit'sit's a secretwe don'tI never repeatwhatgets spokenin that hourexactlybut I also tell themI'm not a trained psychologistand I'm not trying to be oneI don't play one on the internetand I don't do all thatbut what I dois I care aboutwhat you're buildingyeahand if it is somethingthat helps youtalk throughthat helps you make progressin what you're buildingthat's what it's foryeah exactlyand I can imaginelikelike in human natureyouyoufunders are sometimesafraidand maybetend to lieto the investorsI don't knowif this happens all the timebut I thinkbecauseand they may belikebecause they're afraidto tellsome bad newsor somethingrightand it's notit's notthey don't lienothey might omityeahthey might omitchoose to not tellchoose not to tellcertain thingsand you knowthat's fineyeahand the thing is thatI tell this to theto the foundersI say you know whatyou can'tyou can't liein this gamenobecause you'll alwaysbe found outfound out yeahit'll always come outsothe first thing you gotta dowhen you wake up in the morningis look in the mirrorand ask yourselfam I lying to myselfbecause you're the easiestperson to lie toyeahrightbecause you can tellwhatever you wantin your headyeahandhaving that one hour a weekgives them a chanceto verifyyeahby just sharing it with meand they saythis is what I'm thinkingwhat do you thinkyeahand I usually tell themthat's a lieyeahyou're lying to yourselfyeahand by the wayI'm not judging youyeah exactlycan you figure outwhy are you thinking that wayand find a wayto get ourselvesout of thatyeahmindsetI alsoI also love the opennessin the innovationindustrybecause maybe for someoneon the outsidethey thinkoh everybody's not sharingtheir ideasthey have to keeptheir cards to themselvesin my experiencesharingis actuallya benefitabsolutelyand sharing the tricksand the traitsand everythingabsolutelyyeahthat was the whole reasonbehind Startup iStartupyeah yeah yeahthe whole reason waspeople empowering othersyeahshowing peopleheyyou knowa smart personlearns from their mistakeyeaha wise onelearns from others mistakesexactlyrightso we need to be ableto share our mistakesso others can become wiseryeahrightbecause if everybody elsearound youin the communitybecome wiserwe all become wiserbecause we're part ofthe communityand we earn from that tooI think it is importantfor us to not hideyou knowandthis is the placewhere you cannot hideyeahexactlythere is no hidingsoone question about thisfor examplebecause my planis to go downthe startup routehave you everor someUS investoror anybodyhas there been a casewhere people havecome with an ideaand they really believe in itand you see themsparkbut theythey have a really lousypitch decklousy business planlousyand you maybe thinkI'm just trying to empowerothers who are listeningand maybebecause maybenobody is perfectat everythingyou knowmaybe someone has a greatyou knowgreat ideagreat thingsgreat everythingbut his business planis not goodyeahso have you everlike saidokthis is a great ideaI want westbut you have toget some team aroundto with a business planor whateverall the timeyeah okall the timeso that's actuallyreally empoweringbecause I thinkall the timesometimes people thinkthey need to behave everything perfectnononobody can haveeverything perfectnoI don't have everything perfectno exactlynobody doesbut you knowthis dilemmaI'm talking aboutabsolutelyand I thinkI thinkit isit's a trapyeah exactlyyeahrightit's a trapto believethat you can figureeverything outI think it's the wrongthing to dothe right thing to dois to saywhat is the minimumamount of thingsthat I need to figure outto make progressyeahbecause end of the dayit's progressthat allows compoundingexactlyif you don't make progressand you're standingin the same placeand you'rementally thinkingthrough allthe things that haveto happenyeahyou're not making progressnosoIso doing is betterthan thinkingyesactually doingis better than thinkingdoing itfor your customerseven if it isuglyand you areembarrassed about itis better thannot doing ityeahdo it uglyget it in frontof the customerlet them see itand they will tell youif it's uglyyeahguess whatthat's good feedbackand you will make it betterand you will make it betterand they will tell youwhat's uglyrightthey will saythis is uglyand you can saywhat of this is uglyand they'll tell youand then it is importantas a founderto how you takethe criticismand saynot sayoh my godnot be defensiveif you'rehumbleyeahyou say thank youyou will saythank youyesand go back to workexactlyand I think it's importantlet's talk tomorrowyeahand the thing is thatthat's the exciting partrightbecause if youimprove on itand then the next daythey see itthey're likewowthis is amazinghow did you figure that outand figure itand solve itand imagine howempowering that isexactlythe minute they say thatwowthen you saycan you pay me nowyeahthat's the magic of the gameI guessbutmaybeone thingon theEuropean Unionbecausebecause you wereon the no sidewhatjust askingout of curiosityif you would have said yesare there anyobviousdamageor whateveror consequencesit would have beenfor the innovationsection in IcelandsoI meanobviouslyyou knowthis is not atrivialquestionobviously notyeahnonothere are layersto this problemyeahactuallyin my opinionit would have beenbeneficialfor the innovationsectorbecause obviouslywhat it doesis that it allowsfounders tomove freelybetween different marketsand build thingsfreelybutwhat it also doesis thatthat is notthe importantfactor in innovationnopeople think it isbut I don't think it isthen it may betoo market drivenor somethingyeahnot only market drivenI reallythink what you needis focusyeahin the early stagesof building anythingyou need focusand by the wayif you have focusand Icelandas a small marketis actuallya great marketbecause the thing isyouyou can getto talk to the rightpeopleoh yeahshorter cutsshorter cutsand you caniterate fasteryeahrightbut the minuteyou become part ofthis bigger holeyou kind oftake your eyesoff the ballon Icelandoh yeahyou knowand I thinkthat is a distractionand it's not justa distractionfor foundersand you knowand I want to qualifywhy I kept sayingnoyeahIthink that there arepros and conson both thingsyesand by the wayI was in politicalmy 20 yearsof living in IcelandI've never talkedabout any issueas vocallyas this oneyeahbecause I wentand did my own thinkingand I saidok what are the benefitsof doing thiswhat are the costsof doing thispros and consand you knowI listed them all downandfor methe biggestdrawbackisthe distractionfor the governmentyeahyou seethe thing is thatand then you knowI'm not trying totake stabsat this governmentnoand I havepublicly said itI like KristjónI thinkshe is a greatprime ministerI thinkshe is a good leaderbut unfortunatelyshe is beingdragged downthe wrong pathand I don't believeit is in the bestinterest of Icelandfor a smallgovernmentto be distractedinto thisblack holeof a unionwhere we losethe eye on the ballon our ownthingsand I thinkI've said thisalsoI thinkwe're sayingno to the unionwe're not sayingno to Europenoexactlywe are tootightly integratedwith Europeto say no to EuroperightI meanthe biggest tradingblock is Europewe buy a lot ofthings from themwe sell a lot ofthings to themso there is nolove lostin my opinionbut I also thinkwe have to besensibleto think aboutwhat cana small countrylike Icelandreally achieveby this exerciseit is greatfor politiciansto sit in Brusselsand rub shoulderswith big peopleyeahbut I don't knowif it would reallyhelp improvethe communityin Icelandno exactlyrightso I wantmy governmentI've said this openlyI want my governmentto care about meyeahmy communitymy societyyeahthe peoplein Ísafjörðurthe peoplein Ísafjörðuryou knowthat's what I wantmy governmentto focus onI mean as a small countrythat should bejust the prioritybecause we have toabsolutelyand by the waywe have a lotof resourcesyeahwe can makethe quality of lifein Icelandmuch betternot by giving peoplethingswe can be proudand bigwe can be proudand bigwe can createbetter opportunitiesfor everybodyyeah exactlyand as you seewe justdiscussed beforein the innovationsectionthetheexamplesare theresosoand we havetwotwo unicornsin the last decadeas you saidsowe don't have to be afraidabout losing anythingon the innovation setnoif anythingobviously notif anythingI would say thatIcelandis a very attractiveplace for foundersto come and buildtheir companiesyeahyou knowandonon that noteI'm now workingI have my officein Iceland Ocean ClusterThor Sigfússonand Iare partnersin a new venturecalled Blue Nova Venturesokand we are actuallyinvestingin the cross sectionof technologyand the oceanand becausewe are starting thisand what Thorhas doneas a pioneerin the 100% fish movementyeahhas createda globalcultpeopleall over the worldwho are livingby the oceanyeahare inspiredby thisnotionof creatingvalueout of the oceanwowand I thinkwhat they will doisjust likeSilicon Valleythey would wantto cometo Icelandand buildtheirseafoodrelatedtechnologycompanyfrom hereso the hubwill be heremaybeyeahand by the waywe already haveocean clustersin 11 differentcountriesand all of thoseocean clustersbecome ourfunnelfor foundersand they wouldsend themto Icelandwe would createkind of likea Y Combinatormodelbecause if you getinto Y Combinatoryou gotta gospend 3 monthsin Silicon Valleyjust like thatwe would basicallythe founderswe pickthey cometo Icelandthey sitwith usthey workwith usand they buildfor the oceanbecause we aresurrounded by the oceanIceland has theentire valuechain of the oceanwe have figuredout everythingto do with the oceanbut we justhaven't upgradedwe need to upgraderightthe only waywe upgradeby doingtechnologythis is thebest examplefor mein the senseofplayingby yourbest qualitiesif you knowwhat I meanthis isyou knowyou're playingby yourstrengthsthis isso greatto hearandinthe nearfuturethis hasto betalkedabouta lotbecausethis isbigthis isreallyinterestingas wellI thinkyou knowsoI'm nottrying totweet myown hornbut Ishouldbut youshouldsometimesI shouldin 2025I gotFalkenortefromHatlafor myworkonbuildingthe startupcommunityand workingon startupsand innovationand all of thatthat's greatand I haveknown ourpresidentbefore she waspresidentshe's reallyinnovativeshe's veryinnovativeand you knowshepulled measideand saidyou knowBalajust becauseyou've gottenthe orderof thefalconyou're notdoneyeahyou knowthis is notan awardfor youto justkickyour shoesand retirenothis isjust thebeginningnothis isbasicallyfor youto risemore peopleupyeahthat'sthe jobit's aresponsibilityyou haveto takethisseriouslyandyou knowand I waslikeoh manlike Isayin Batmanwith greatpowercomesgreatresponsibilityI kindofturnedaroundand saidokayif Ihad toand you knowI wentback towhen IstartedstartupIcelandand youknowobviouslythere isa darkpathbut thenalsothe brighterpaththerewasthatIlookedaroundand Isaidwhatnobodyelsewasdoingandnobodywastalkingabouttechnologybasedstartupsnobodywastalkingaboutinnovationand Isaidobviouslythe futureis goingto bebuilton thatso weshouldtalkaboutitrightso that'showthe wholeideaof whatI didcameaboutand Isaidokaynowin20252026whatisnobodytalkingaboutandit issoobviousto methatpeoplearetalkingaboutAIanddatacentersandeverythingelsewhatthey'renottalkingaboutishowitisgoingtoimprovewhatwedowiththeoceannobodyistalkingaboutthatandIsaidthat'ssillynobodyconnectsAItotheoceanbutwhenwethinkaboutitwecanseehowtechnologyisgoingtofundamentallytransformhowwelivebytheoceanhowweliveofftheoceanhowwearesymbioticwiththeoceanandthisisgoingtobeamajorupgradeandbythewaythisaffectseverybodyinIcelandsowehavetojumponthisbandwagonnotonlythatIbelieveandthisistheothervisionIthinkIcelandshouldleadthisinnovationweshouldstepupandsayguesswhatwewerebuiltbytheoceanwearegoingtoleadonhowtolivebytheoceanwearetopdogsinthissectionbecauseweknowhowtodoitandthisisnotjustmebeatingmychestthisistherealityweareinvestorsinIcelandthatarehelpingtheseafoodbusinessandwhentheygoandshowwhattheyhavebuiltinIcelandcompaniesinAmericalookat itandsayohmygodyouguysarealive,likeinthefuturehowdidyouguysfigurethisoutandIsaywellbecauseweactuallyinvestedintheoceanbusinessweactuallyinvestedfordecadesyouknowforhundredsofyearsthisisaresultofmanyyearsofhardworkit'spartofeveryIcelandersDNAyouknowsotheoceanfedustheoceanbuiltuswecannotturnourbacksontheoceanwehavetoinvestintheoceanandthenextgenerationofinvestmentisgoingtohappenintechnologysothat'sthethesisbehindBlueNovawebasicallysaidokwewanttoinvestinanybodywho'sinvestingintechnologyusingtheoceanandlet'sgoandthere'splentyofpeoplethinkingaboutthisandwantingtoworkonthisandweknowwhattodohereyeahsoImeanIguesssoImeanifsomebodywho'slisteninghasagreatandcrazygoodideaorjustacrazyideaaboutBlueNovajustbeintouchtherearenocrazyideasnothereareideascrazyisgoodcrazyisnotbadcrazyisgoodbythewayIactuallyIactuallyevenhavetheheadlinethatwaswrittenaboutmein2013IthinkitsaidcrazyIndianinvestorBrexitandIwaslikethat'sgoodI'lltakeitI'lltakeitcrazyisgoodthat'sgreatandIalsothinkbecauseI'mnotsayingthisjustbecauseI'minthatindustryIthinkinthistechnologyandthistechnologicalworldweliveinIthinkalsowecan'twehavetobeawareoftheB Corpindustryandthesocialstartupsbecauseformethat'salwaysrelevantIthinkweshouldatleasthaveitinconsiderationthatthoseprojectsarereallyimportantaswellIagreeIthinkthereareanumberofcompaniesthatstartedastechnologicalstartupshavebecomeB CorpsstartingwithEtsyEtsyisaB CorpandobviouslyPatagoniathere'senoughbookswrittenaboutPatagoniaandtheirstoryandIbelievetherearemanymanyexamplesthatwewillfigureoutaswemoveforwardIthinkthereisthisnotionnowbeingtalkedabouttheendofcapitalismandallofthatIdon'tthinkthat'strueIthinkweareevolvingrightcapitalismitselfisevolvingbecauseeventuallyonceyouyouknowifyoulookatsomeofthevaluationsandsomeofthemoneythatisbeinginvestedinthisnextbuildoutoftechnologyit'smindbogglingrightImeanlikespacexyouknowlikeyougetaneonyouryouknowyouknowyeahitdoesn'tfitinthecalculatoryouneedascientificcalculatorto lookat thenumbersthat arebeinginvestedandyouneedtoscratchyourheadandaskthequestionImeansomuchcapitalisbeingkindofconcentratedintothesethingstothebenefitofwhatitistothebenefitofhumanityrightithastobetothebenefitofhumanityIandyouknowI'mjustusingElonas anexampleIdon'tthinkandthisisproveninpsychologyElonisbigintheUKrightI'mtalkingaboutElonMusksoElonMuskobviouslyhe'stherichestmanandtheworldbecausethecompaniesthat he'sbuildingarevaluableandthey'redoingthingsforhumanitythat'svaluablethatiswhytheinvestorcommunityisgivinghimsomuchcapitalbecausehe'sactuallymakinghumanitybetterinlotsofthingschangingtheworldandagainnottotakeanyofhispoliticalaffiliationsorwhathetalksaboutallthatisirrelevantbecauseifyou'removingthehumanityforwardtomakehumanityamultiplanetaryspeciesthatinitselfshouldgivesomeleewayforthisguytotalkaboutwhatthehellhewantshe'sdoinghispartandIthinkmostpeoplewhogetyouknowkindofoutragedaboutwhathesaysIusuallytelleverybodycalmdownyougettingoutragedon theinternetdoesnothingImeanoutrageaboutatweetwhonobodycaresaboutbythewayoutrageon atweetonlyfeedsthealgorithmthat'swhatitdoesexactlysomyhumblerequesttoeverybodyisthatlet'sgetlessoutrageyoucandisagreewitheverybodythat'sokayyou candisagreewithanyoneyouwantbutusetruthandfactsnotyouropinionbecauseopinionsareeverybodyhasonelettruthhaveitsdayweshouldallowthetruthtohaveitsdayandwecantodaygoanddooursearchandfindthetruthdoourownthinkingdon'tjustallowthealgorithmstodictatetoyouwhattheworldisbecausemostofthetimepartofitismaybetruemostofitisnottrueyouhavetodoyourownthinkingandImeanonthatnoteImeanjustimaginehowourgenerationshowluckywearetobeinthisinformationageImeanthisisImeanwhowouldhavethoughtyeahnoImeanthethingiswehaveplentytoliveuptoandthepossibilitiesinfrontofusitismindblowingandIwishmorepeoplearemoreexcitedandinspiredaboutusbecauseIthinkthat'swhatweneedweneedmorepeoplewhoareinspiredandwillingtoputenergyintobuildingthingsthattheycareaboutnotbreakingthingsdownbutbuildingthingsupandforpeoplelisteningdon'tbeatyourselfdownifyouthinksomebodyelsewon'tlikeyourideaifyouhaveapassionjustgoforitabsolutelyImeanbecauseweourselvesareworstjudgesIagreeIcanmaybefind100plusreasonswhyIwon'tbeabletomakeitwhymytimewillbehorribleandwhyIwillnotfinishmyrunandgetaDNFonmyslipsohér komuÖrstöldskilabóðfrámínumfrábærusamstagsæðalumeinnigsemstærstermeðlýmtriðavirnetlýmtriðavirnetjáskobyggingarframtíðarinnlýmtriðavirnetborgaðesslinkálsilýmtriðavirneter barakomiðinn íþjóðasálinþað ersvomikiðgæðafyrirtækigóðgottviðmótfrábærarjávörurogúrvalogalltþettaogröfvöllanúnaerjámæðurtil meðaðtalaumrúmvolöstinnaerþað semfólkgeturhlaðiðmyndumá húsinuogséðhvernigþað geturlítiðútmeðhlæðingumfrálýmtriðavirnetþannig aðþað eropenslegamagnaðþannig aðþetta erbaraég mælieindriðmeðaðtjekkaþvíhérnajábaranúnaínáðustuframtíðþannig aðég segibaralýmtriðavirnetþað er baratakk frá mérog jákastinuég setireindriðsastarimeðeilskristalleilskristalleilskristallbláigrænigulifjólurbláijá barahvar á ég aðég að byrjaog endaþetta er svoótrúlegamagnaðsótavatniupp á10,5bublurog allagræurskoég eralvegbublurí mittsótavatnég erhríkalahrifin aðmöllumgræniog bláisérstaklegaupp áallt íakkuratnúnaog núnaer baraþessi klassiskabolludóslitlaer að komaaftur ímagn pakningumskoþetta er svonaþetta eru dósinasem passavel í bílinog annaðsliktþannig aðþetta erskemmtilegtskoskomér ermér ermérst ákveðinnostalgíaog líkaeitthvaðen baraskomér mérst að líkaeitthvað en barasvonajásvonastemminggottí bílinog þetta er svonaeitthvaðþetta eru ákveðinsvonajáretronostalgíafeelingmér finnst þettaalvegæðislegtog þetta ersvonabláu kristallinog græni kristalliner að komaaftur ítímabundiðísvonaklassískubolludósumþannig aðég mælu meðaðaðtjekkaá þvískobaraeils kristallþví það sésthver drekkaeils kristallþað er baratakk frá mérog jákastinuog svo setjum égeinnig ííndislega samstarimeðpizza popolaripizza popolariég meinahvað eru ég að byrjameð pizza popolaripizza popolariþau veistbóstustrættimatthöllyðun matthöllakureyriþau veistskopizzaupp á 10,5þú ert baraí Napoliað bora pizzaþau ert að bora pizzanáttúrulega pizza popolarisráefniðupp á 10,5þau veistþú ert baraí Ítaljuí Napoliað bora pizzabara ég veit ekkihvernig hvað eru ég að byrjaég veistfyrir hlaupið um daginþau eru allar frábærapizza náttúrulegabara mælum að tsekkamatthöllunumog það er kóðií 15%aðstáður með kóðunumjákastitþegar það er pandiðí take awayogég veistfyrir reykjaukumarþannig um daginþá fekk mér bara margarítuog þetta er barajá hérna hérbaraég ágit til orðjá ég get ekki lístihvað þetta er gottþannig að það er bara svolítiðþannig að pizza populæriþað er bara takk frá mérog jákastinuI meanbut I can also findmillions of reasonswhy I will do itandhow I will succeedsoI thinkand this isgoing to the coreof positivityversus negativityand itin innovationin whatever you're doingthat's the fundamental partnegativityand beating yourself downis mucheasierI meanand for mebeing bravebeing positiveis being bravebeing your true selfand being true to yourselfandif you're ininnovationto your investorsand everybodythat's courage for meand positivityand you knowI'm abig student ofpsychologythe mindhowweyou knowthinkand how we actall those thingsand one of the thingsand one of the thingsthat isimportantthat we allneed to understandis thatyourfocusdeterminesyour realitywhat do you focus onbecomesyour realityif you focuson negative thingsthat becomesyour realitybut if you focuson positive thingsagainthat becomesyour realityFord was rightwhat you thinkwhat you candoit's trueI tell thisto all thefounderswhile they'rebuildingyou knowthe IndyIndy 500the racecarthey drivein theseyou knowbig circlesyou knowthey hit250300 milesan hourandif you wantto becomea driverin Indy carswhen you goto trainingthe first thingthey teach youis toforget the wallyeahyeahforgetyeah exactlyforget the wallyeahbecausethe secondyou think aboutthe wallyou crashyeahat that speedsoin your mindyou need tofigure outa way tocompartmentalizeyeahI'm not sayingdon'tthink aboutall the thingsthat can go wrongnoyou should thinkabout themyeahput them in a boxyeahmove it to the sideyeahand say okayI've thought about ithave it in your consciencemaybeit's all thereyeahbut that's notwhat determinesmy realityexactlymy detrimentof realityis what I'm goingto get doneyeahwhen I finishthe tourof the circleswhat is goingto achievemy goalyeahand how am Igoing to get thereyeahrightthe processexactlyhow to get therefocus on thatguess whatyour reality changesyeahand the only thingthat mattersis thateven if there'sonly 1% chancethat you will succeedif you focuson that 1%every dayI don'tguarantee youyou will succeedthen we havethe philosophyof the movieDumb and Dumberlike Jim Carreysaidor Lloyd Christmasso you're telling methere's a chanceyesthere was no chancebut hehe believed in the chancein the 1%I mean that's the thingandone projectI know youyou were involvedin Barthalayeahfor examplebecause we're talking aboutI'm not saying thatmaybe a B Corpor somethingbut I meanthat's a problemsolving companyyeahwhich Iso admireandadorebecause I meanI meanI will get Jónkunhere to talk aboutBarthalabut maybemaybe just brieflyI meanBarthala hasbecause we're alwaysproblem solvingthat they have helpedso many peoplein the working industryI meanso Barthalacamewith meand Jónbrainstormingin that one hourthat we meetbecause I investedin his other companycalled Musillaand Musillawasn't going farokso we decidedthat okwhatwhat can we take onusing some ofthe learningsfrom the MusillaexperienceandJón had justinvested in thislanguagereading companythat was beingintegrated intoMusillayeahand we were justbrainstormingand I saidyou know Jónwhy don't wekind of go afterthe immigrantswho are herewho are herefor a jobyeahyeah,but they don't speakIcelandic as wellI am a living exampleyou knowthis interviewshould have beenin Icelandiclike I sayin the script industrywrite what you knowyeahandthe whole burdenis on meyou knowI understandmore Icelandicthan I speakand the reasonfor that iswhen I first cameto Icelandnobody told meheyif you don't knowthe languageyou are alwaysgoing to bean outsidernobody told me thatif somebody hadtold me thatI would have basicallyjust beaten myself downand gotten the language downbut after the firsttwo yearsyou get used toworking withoutspeaking the languageso my adviceand I knowI'm an advisorto the ministryof foreign affairsand all of thatand I tell everybodyI saidpleasedon't dothe disserviceto a professionalwho is comingto work in Icelandbecause they aretalentedthey are educatedthey have all the experienceto help Icelandbuild new industriestell thempleaselearnour languageimmediatelyI meanyou just becomepart of the communitythe only wayonly wayyou understandthis communityis if youspeak the languagethere is no other wayandby the wayI'm very fortunatebecause I'm marriedinto an Icelandic familyand they areextremely understandingaboutmy limitationsof the languagebut Iyou knowbut in the homethey all speakIcelandicand I understandmost of itand you knowand the onesthat I don't understandI usually sayI don't get itwhat are you talking aboutand they'reno problemthey usually explainyeahtheand I gave that exampleto Jónand I saidJón you knowcan we finda different wayto get peopleto just speakyeahand he saidyou mean likeBaratariand I saidyeahBaratariand that becamethe nameand he ran with ithe ran with ithe went and metpeoplewho are immigrantshe went and metcompaniesthat were immigrantsand he basicallystarted iterating on itand we basically saidlet's try to buildsomethinglike howkids learn languagesthey're not taughtgrammarrightI meanif you go to kindergartenwho's teaching themconjugation in Icelandicnobodyexactlythey justtalkthey listen to youand they repeatwhat they listen tothey're like parrotsI mean I learned Englishby watching Family Guyand Simpsonsthere you goand we saidcan we recreatethat in the applicationand that's whyand have some manifestoand have likeand that's whyit succeededbecausethe minutesomebody touchedBaratarithere was no pressureto learnIcelandic conjugationthere is no pressureto learnanythingthat is hardabout the Icelandic languagelikeand I saidjust let them repeatbecause that'swhat people are afraid ofyeahand the other thingis thatI think most peopledon't understand thisbecause they don'tunderstandwhat is the mindsetof a professionalimmigrantwho's coming into Icelandlike mefor mewhen I talkin IcelandicI sound likea four year oldrightthatII feelnotconfidentin a professionalsettingyou knowI feel likeohI sound like an idiotand I don't want to soundlike an idiotin a work settingrightso you want to soundlike an accomplishedprofessionaland you basically sayno I'm not going to usethis languagebecause what that would dois it would make melook like an idiotand I don't want to bean idiotrightand this is actuallya sociological problemwhich is really interestingyeahso we changedhow we teachyeahwe basically saidwhat ifwe couldtell youall thewordshow they say itin a specificwork settinglike for exampleif you're workingin a travel agencylet's say you're workingfor a rental caryeahwhat wouldan Icelandicemployeeusein a rental carassociationas wordsand phrasesyeahit's probablyabout 4050 of themyeahthat's about ityeahwe basically saidyoustarting to workin a rental car agencyyou justhavean artificialintelligencethattells youhow to say itand you canrepeat ityou don't haveany social stigmabecauseif you say itbadly toAIit's not going tojudge youbut if you say itbadly to acolleaguethey might saythis guy might bean idiotmaybe we shouldbe carefulabout talking to himrightso this isreally empoweringit's veryempoweringand the factthat peoplelearn byrepetitionthey repeatand repeatand repeatand suddenlythey feel confidentsaying thatto their colleagueyeahand that's howtheyparatalaand I meanto learnmaybea little bitof the accentlearn howto pronounceI meanthat'sI can imagineit's really importantyeahand of courseAI helps you therebecause it tells youhow tosay the wordyeahand if you say itthe same wayit will saygoodif you don't say itit's atry againtry againtry againno one's judging youno one's judging youby the waythe more you repeatthe more you get good at thisand the more you get good at thisthe more you're confidentand the beauty of this isthis is notthe easy way outyou actually have toput in the workabsolutelywhich is so goodyou knowI don't know what the numbersstand todaybut Jónsometime I spoke to himhe told me thatthere are about10,000 peopleusing the appevery daythat's greatforhoursyeahwe're not talking aboutlike you knowthey're opening the appand looking at itthey're actuallyspending hoursand I just lovethe wayhow the companyhas you knowyou knowjust gone biggerand biggerand step by stepnotno likeyou knowno likeflashing lightsno big thingsjust likestep by stepI can imaginethis is thenaturaland normaland good wayto grow your bitsabsolutelyI think you knowthe thing isobviouslyas a venture investorwe haveall kinds ofyou knowshould I saymetricsand KPIsthat come outof all kindsof other placeslike Silicon Valleyand some grow biggersome growyeahandfasterI don'tI don't buy all thatnoI don't care aboutall those thingsmy missionhas always beento help foundersand I want tobuild meaningfulcompaniesthat solvesproblems for the worldI'm not sayingthat open AIor anthropicdo not do thatthey do it at scalebutthey do itin their waybut there arelots of thingsthat areusefulfor small communitiesbut actuallycan expandto larger communitiestoolike for exampleyesIceland is a smallmarket for a languageappDuolingo does notsupport Icelandicokso we built itand guess whatthere are216 countriesin the worldimmigrationis notsome problemthat onlyEurope or USis facingit's everywherebutit's not a problemin my opinionI think we need toyou knowget over thatI thinkuncheckedimmigrationis a problembutnormal immigrationis fineyou knowpeople who comehere to make a livingand they actuallyhave somethingto contributeto this communitywe should welcome themwe should sayyeah come on overand ohby the waywhen you come on overyou need to beuniquely ableto contributehererightwhen I movedto the USthat'swas the criteriathe only waythat I couldconvert myeducation degreeto beingan employmentwasonethere should bean advertisementmade for the joband nolocalshould applyfor itoh yeahrightandby the waywhether that'spossible or notpossible is notthe keythe key is thatuniquelyyou should be ableto contributeto the societyto make it betterand I thinkthat if we dothose kinds of thingsand we keepthose kind of metricsI think we canactually builda goodshould I sayyou knowthe multiculturalworldis a veryyou knowhot topicright nowbut my viewis thatyou knowmulticulturalismis not badin its own sensebut it's badwhen somebodycomes and triesto convert youinto their viewthat's the wrongthingyou knowIceland as a countryhas hada thousandplus yearsof cultureand heritageand what notrightme coming herefor the last20 yearsand try to sayyou know whatI'm betteryou should all dolike what I dois stupidrightwe shouldn'ttry to do thatI think what weshould try to dois to sayguess whatif you're hereyou play by our rulesthis is our rulesyou stick to itby the wayrule of lawhere is thisyou have to stickto thatyou knowyou can't breakthose thingsby the wayif you break ityou pay theconsequences of thatthis is allyou knowobvious thingssimplerulewhy shouldn'tBaratala fillthat gapexactlyand I thinkmaybecorrect meif I'm wrongI thinkmaybe one ofthe mostmaybeone of themost commonthings thatpeopleputbefore themin innovationislikethey're afraidthat thecompetitionis toowideor toobigbecausefor meI thinkthere's alwaysa placefor a goodideaand everythingis a competitionI meanthere's competitionin everythingand maybelikeBaratalais maybekind ofa nicheprojectbut stillI meanfor examplein the podcastworldif you havea nichepodcastgreatyou'll geta lotof listenersbecauseguess whata lotof peoplereally likepositivityorold carsyou knowor somethingbecauseI thinkpeople arealways afraidthis ideathere are toomany peopledoing the samethingI thinkthecompetitionpartIspecificallytell foundersyou can'tthink aboutcompetitionthe onlything you canthink aboutis yourcustomerwhat isthe problemthe customerhasand howam Isolving itbetter thananybody elseif yousolve itbetter thananybody elseyour customerwill buywhat yousayas simpleas thatand if youfocus onyourcompetitorguess whatyou willcopy yourcompetitorbut if youfocus onyourcustomeryeah, if youfocus onyour customeryou willinnovatebetterbecause youwill listento theirproblemand youwillinnovativelysolvetheirproblemthat iswhat youshould bedoinganywayusuallywhen youstart astartuppeoplethink aboutbig marketsand allthatI thinkit'simportantto notthink aboutthosethingsyou knowit'sgreat tohave themon thepitch deckbut asa foundera tinymarketthat hasnobodyservingitis therightplaceto startsoon thatnotemaybeit'sinoursobeinginIcelandismaybeinouradvantagetoonlyhavetostartfocusingon asmallmarketyeahabsolutelyI thinkit's asecretyeahit's asecretthat wehavewehaveauniqueandmaybeweunderestimatethatweunderestimateda lotinmyopinionifwecansolveaprobleminIcelandithaslegsoutsideofIcelanditdoesn'ttranslateaswellyoustillneedtofigureoutthemarketsthatyou'regoingintobutifyousolvedithereyourvaluepropositionsbecomeveryclearandyourvaluepropositionistherealproblemwhenyougooutifyoucan'tclearlyarticulatewhyyoushouldexistthenyou'renotgoingtogetcustomersbutifyoualreadyhavecustomersherethenyourvaluepropositionsareobviousobviouslyyouneedtofigureoutthevaluepropositionheresoIthinkthat'sthepartthatfoundersneedtofocusonsmallenoughmarketthatyoucanreallyimprovethelearningistherealthingthelearningiswhatreallymakesyoudifferentiateitandtheminuteyouhavethoselearningsyoucangooutthereintheotherbigmarketsandyoucanwinit'snotagivenit'snotaguaranteebutguesswhatthere'sa1%chanceandguesswhatIsaidifyoufocusonthat1%youwillwinthisissogoodandtalkingaboutchanceortalkingaboutgreatnessIhaveafewpartnersthat'smypartnerincrimebecauseI'venevertastedalcoholinmylifewhichisanadvantageinmyopinionandI'mproudofitactuallyyou'renotmissingmuchexactlysoI'veheardsoKristallismygo-todrinkthat'sanIcelandicconstructionforthefuturesothat'sreallygoodandIcelandicIwouldsayinnovationinconstructionandpizzapopolareinpost-smartthey sayinpizzapopolareit'sareallygoodwordforinnovatorandreallygoodadvertisementandsalesandmarketingifyouknowyouknowyeahIneedtotryitpizzapopolarepost-smartreallygoodmaybeif wehave ameetingsomedaywecangothereyeahthat'sgoodsobutthankyouverymuchmysponsorssojusttosum itall upyourprojectthebluenovathingisreallyinterestingsohowfarareyouinthatsensesoImeanwesothisismythirdfundsothefirsttwofundsarefullydeployedandinthefirsttwofundsmostofmyinvestorswerefastfounderswhohavesuccessfullyexitedfromtheircompanieslikeFertramandoneofmygoodfriendisBreePettisthefounderofMakerBotthe3DprintercompanysoBreehasbeenoneofmylongtimesupportersandinvestorsinbothmyfundsandhe'salsoinmyboardandBreeisagoodfriendofIcelandhe'sagoodfriendofallthethingsthatIhavedonesomostofthepeoplearefamilyofficesandentrepreneurssothethirdfundwhichwe'redoingwhichisBlueNovaisthefirstfundthatwe'reactuallypitchingtoinstitutionalinvestorswe'retalkingaboutpensionfundsyouknowbiginstitutionsthathavelotsofcapitalandwethinkthatit'stherightsizefordoingthisprimarilybecauseoceaninnovationisactuallygoingtotaketimesoitisa12yearfundwedeployfor5yearsandthenwetrytodivestin5yearsandthenwehave2moreyearstoextendsowehavetalkedtomanyinstitutionalinvestorsa lotofthemareinterestedwearestilltryingtoraisethefundtheplanistodoafirstclosebythefirstquarterofnextyearsowehaveabiginstitutionI don'twant todiscloseanythingyetwehavepassedthroughmanyoftheirfiltersbutyou'reworkingfastwearetalkingtofounderswhoarebuildingintheoceanallthetimesothroughtheoceanclusterwemeetthemwementorthemwehelpthemwedoallthatbutthefundraisingisongoingandfundraisinghasalwaysbeentoughIonlyjokinglysaythisbecausea lotofmyfriendswhoareinSiliconValleytheysayohmanhasitbeenfunpartthefunpartistalkingaboutwhatwearebuildingandwecanseewhenwetalkaboutwhatwearebuildingthereisalotofinterestpeoplebasicallyline upand sayyeahIthinkthismakesa lotofsensetellmemorewhatarethekindsofcompaniesyouareinvestinginwhoarethefoundersyouaretalkingtowhichprobablyconfirmstheimportanceofityeahit'snotjustimportantIalsothinkthatitisalsomissingthere'sagapintheworldandwearetryingtofillthatgapandIthinkitwillactuallyworkoutandasIsaidIeatmyowndogfoodIdon'tfocusonthenosthatisworkingwithuswehavegoodpartnersthebigideaisthatthebluenovaventuresbecomelikeareallydeepventurefundthatinvestsintheoceanforthefutureoftheoceanandIthinkitisimminentinmyopinionbecausetwothirdsofhumanitylivesbytheoceanandwehavenotupgradedmanythingsandweneedtoupgradethemandit'sgoingtobedoneinnovationontheoceanisgoingtohappenwhenpeoplelikeHedafromLearncoorSvennefromGreenfishorKallefromHeffringMarineorJuliefromMariathosearethepeoplewhoareinnovatingontheoceanandweintimatelyknowthesepeopleandweworkwiththemdaytodayhelpingthemfigurethesethingsoutandmakeprogressonepartofitisfundingbuttherearelotsofthosethingswecontinuetomoveforwardinthatsohopefullyweclosethefirstfundingbythefirstquarterofnextyearandIthinkitwillhappenweareprettyconfidentaboutitandwearetalkingtolotsofinterestingpeopleandthefeedbackhasbeenquitepositivesowowthat'sreallyinterestingandIactuallyheardaboutGreenfishthoseguysarereallyIthinkyeahsoSvenandGreenfishguystheyareintheclusteraswelltheyhavebeenwithusforalmostayearnowIthinkforthefirsttimetheyareactuallytryingtofindanotherplacebecausetheyhaveoutgrownthespacethereit'sagoodproblemandIthinkweareveryproudofthemandwhattheybuiltandwhattheyarebuildingandthisishowweshowleadershipinIcelandbysolvingabigproblemandSeneisdoingagreatjobwiththeteamandobviouslyit'sgoingtogetbetterandIthinkthere'ssomanythingsthatwecoulddothatwaythatwillimprovehowweliveofftheoceansustainablybecauseend ofthedaytechnologyisadeflationarysustainablethingIdon'tcarewhatpeoplesayIthinkfossilfuelasidetechnologyhasactuallyimprovedhowweuseresourcesIthinkpeoplehavetorealizethatourelectricityhow weuseelectricityinIcelandhowweheatourhomeseverymachineweusearefarmoreenvironmentallybetterthanwhatwedid100yearsbackIthinkwehavetoreallythinkaboutthatandreallyrespectourmainresourceswhichistheoceanandourenergysowehavetobethankfulIthinkwhatyou'reforgettingisoneofthemostimportantresourcethatwehaveisalltheknowledgeofthepeopleherethe400,000peopleinmyopinionisbyfarthemostvaluableresourcebecauseifyoucancompoundthatresourcewecandoincrediblethingsyouknowbythewaywiththeoceanwithenergywithallthethingsthatwecandothere'snolimitstowhatwecandoit'sbasicallywehavetopickwhatwewanttodowehavetopickthatandIhopesowecan'tbethechoosersand not the beggarsexactlywe can always be the choosersand I thinkIcelandif anythingyou knowcoming back to the campaignand all of thatI believeeven thoughwe are a smallcountrywe have shownthat we canbe choosersand wecanbuild our owndestinyI'm not saying it's easyit never has been easyit's always hardI thinkit is thosewho continueto believethat it's an easypathby joiningsomethingor goingafter somecurrencythat's notthe answeragain being braveis hardbeing positiveabout yourselfand aboutwhat you're doingthat's hardabsolutelyand take gutsand you knowI thinkwe would notwant it any other wayexactlyyou knowhard is funif youby the wayyou've run marathonsif running the marathonbecame easywould you want to do it againnononothe hard partis what drives youthen I wouldn't have to trainexactlyand noI've runI've run 8 marathonsand I know exactlywhat you meanthe only reasonyou do itis becauseit's hardand it tells youwho you areand when you finishyou've never beenfelt more goodin your lifeexactlyand the sameis truefor countriesyou knowI thinkwe can showthe worldeven thoughwe're smallwe can leadthe worldin many thingswe are leadingin many thingsin ideasand I thinkideaswill rule the worldwe should bebold about itwe should becourageous about itwe should notbe shyabout ityou knowI really thinkthatmaybeI haveonequotethat I reallyreally likeand if I canget a chanceto read thatfor all thosepeople whoattacked mefor talking aboutwhat we have doneas a countryI want to readthis becausethat's whatreal courageis aboutyeahplease dobecausethat's reallyinterestingbecause we have toand by the wayquotesquotesand peoplewho are notfond of quotesyou're on thewrong pathwellactuallyit's not a quoteit's actuallyfromI don't knowif you've seenthe movieCoach CarteryeahSamuel L. Jacksongreat moviein Coach Carterthere'sactuallya placewhereso it talksaboutit's actuallyby Marian Wilsonyeahyeahit's a famouspassageyeah I'm gonnaI'm gonna read itplease doour deepest fearis not thatwe are inadequatebut we are powerfulbeyond measureit's our lightnot our darknesswhat frightens us mostplaying smallshrinking yourselfagainst othersso that we canso that they don't feelinsecuredoes not servethe worldshininglike children dois howwe giveothers permissionto shineand as humansthat's what we areput in this worldto dowe have to shinesoothers can shinetooyou shiningdoes notshrink peopleit elevates themit inspires themand that's whatwe want to seebecause we wanteverybody to shinespot onwowso those wordscouldn't be betterfor thefor the final sectionand on that noteArsene Wengerwho was managingArsenal for many yearsgreat coachhe saidthe best playersmake other players shineso we should bethose playersabsolutelyI thinkwe canbecause our lightshines brighterif we make others shineI agreethat's beenmy philosophythat's been myphilosophyin lifeyou knowif youareunafraidabout the truthyou areifeven if you getattackedfor speakingthe truthyou should notbe scaredbecause in the endthe truth will set you freeit willit always doesit always doesBala thank you so muchfor comingand joining meon the showbeen a pleasureas alwaysandwhenmaybe next yearwhen the Blue Novaisis up andup and runninglike you want it to bethen I will talk againabsolutelythanks for having meand thanks for inviting meand it's always funto talk to youand good luckwith all the thingsyou're buildingandand this isa goodgood way tokick offthe rest of the yearthank you so much Balahave a great eveningand I'll see you again soonthanks again
