Rob Bearden’s journey is one of innovation, leadership, and relentless pursuit of growth. From his early days at Oracle to his most recent venture, Sema4.ai, Rob has been at the forefront of technological transformation across multiple industries.
In this exclusive interview, Rob dives into his experiences, the lessons he learned when building and scaling his companies, and the vision that drives his latest endeavor.
Rob’s company, Sema4.ai, has attracted funding from top-tier investors like Benchmark (Business/Productivity Software), Mayfield Fund, Canvas Ventures, Harpoon VC, and Uncorrelated Ventures.
In this episode, you will learn:
- Rob emphasized the importance of resilience and adaptability in navigating the fast-paced tech industry.
- He highlighted the necessity of having a clear strategic vision to guide company growth and direction.
- Rob stressed the importance of building a strong, cohesive team that shares the company’s mission and values.
- He discussed the significance of timing when it comes to market entry and scaling operations.
- Rob pointed out that flawless execution is crucial for the success of any venture, no matter how innovative the idea.
- He advocated maintaining a customer-centric approach, ensuring that products and services meet market needs consistently.
- Rob shared insights on the value of learning from failures and using them as stepping stones to future success.
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About Rob Bearden:
Rob Bearden is the co-founder and CEO of Sema4.ai. He was co-founder and CEO of Hortonworks, a publicly traded open-source company that merged with Cloudera in 2019. He was then CEO of Docker in 2019 and remains on the board.
Rob returned to Cloudera in late 2019 to serve as CEO, where he led the restructuring and sale to private equity firms KKR and CDR for $5.3B. Previously, he served as President and COO of SpringSource, a leading provider of open-source developer tools, until its acquisition by VMWare in 2009.
Prior to joining SpringSource, Rob served as Entrepreneur in Residence at Benchmark Capital. He also served as President and COO of JBoss, a leading open-source middleware company, until its acquisition by Red Hat in 2006.
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Read the Full Transcription of the Interview:
Alejandro Cremades: Alrighty Hello, everyone, and welcome to the Deal Maker Show. so Today, we have a really exciting you know founder that that is joining us. you know We’re going to be talking about all the good stuff that you all like to hear, building, scaling, you know everything. and and Again, you know our guest today, you know he’s done it you know a bunch of times. and And I think that now you know he’s going to be telling us too about what he’s up to. He is now riding a rocket ship, but then we’re going to let him tell us about this. But again, brace yourself for a very inspiring conversation. So without further ado, let’s welcome our guest today, Rob Bearden. Welcome to the show.
Rob Bearden: Hey, I’m a huge fan of the show. Thanks for having me and I can’t wait to get to get into the discussion and thank you for ah for the opportunity to be with you today.
Alejandro Cremades: Amazing. so So why don’t we why do we get going here with they giving us a walk through memory lane? How was life growing up in Atlanta?
Rob Bearden: And it it it was great. it it was It was a very grounding experience and you know very transformational and just watching ah Everything from the Braves flourish to seeing tech come on the scene in the early days. ah you know and And then I ended up building a lot of my career here in Atlanta with Oracle in the very early days and seeing the whole ERP and application world explode right here in the Fortune 500s that were headquartered and in the southeast.
Rob Bearden: and then And then made my way to doing a lot of work and a couple of companies that were um headquartered on the west coast and doing a east coast west coast, west coast commute almost every week. And and now full circle back to founding and and and building and scaling a company back here in my hometown of Atlanta, Georgia. So it’s it’s been a lot of fun to see that evolution happen.
Alejandro Cremades: That’s amazing. Now, in your case, you know you are alluding to it. Right after school, you got into the whole data ah world and the hardware world. and And also, the real software job that you got you know was in Oracle. And that was even before they had reached $1 billion in revenue, which is a really a spectacular. I mean, you started there as an individual contributor and then regional manager and then all the way up to VP. So what what did you learn there from climbing the ladder, the corporate ladder?
Rob Bearden: yeah You know, it was it was a phenomenal experience being able to to be part of Oracle in the early days. That was my first software company job, second job out of school, but first real software company job. As you said, it was before they had even pierced the billion dollar and and revenue model.
Rob Bearden: And but it taught what it taught us was how do you construct process and and and and through every part of the business. And that’s what Ray Lane and Jeff Henley had done so well is how you operationalize every line of business.
Rob Bearden: how you wire between strategy and execution and how you deliver that through ah very surgical processes across every line of business and and how to go through and a ah construction of process through inspection and very focused on detail. And that’s what Oracle, I think, really did a great job of of teaching us.
Rob Bearden: And it was a pleasure to be and and and very fortunate to be able to be part of those early days of of Oracle and watching it double every year for six, seven, eight years while I was there. And just you know learned a lot and ah met a lot of great people and watched, I think, as as much as anything, the transformation of tech happen from being very you know, on-prem to moving to the ERP and next generation of applications and how businesses were transforming their model with technology generally and specifically ah with Oracle ERP and applications and how they were transforming their business models enabled by technology. And watching that happen taught me a lot.
Alejandro Cremades: And also, you know like it it took you some time you know to really going at it as um as a co-founder, but you did some really interesting transitions. you know And some of those were really ah being very heavy on the operational side, whether it was as a COO or as president. I mean, some of the things that you did was I2 technologies, where you were there ah basically they’re helping them um And and and on that on that journey of taking the company public or being the COO of JBoss, which had a $650 million dollars exit, or even Spring Source, where you were president too, and that was scaled and sold ah for $650 million to VMware. I guess say out of all these experiences, all these transitions, what was you know that the that common theme and and and that common thread you know from from one to another?
Rob Bearden: yeah they they They were all very different to some degree and haven’t had a lot of commonality at the it at core parts of overlap. I too was you know one of the very first very specific business applications and it was it was really the leader in automating supply chain.
Rob Bearden: and and you know built a great company, got to a billion dollars in revenue. At the height, it was a $52 billion dollars market cap, 20% operating margin, and just a model of ah scale and efficiency. and And I learned a lot from the board, from the leaders, from Sanjay, some Sanjeev, excuse me, and and and Greg. um but really under You had to learn in that model how to establish your correct and accurate positioning into the apps consumption model, and what your best practice use cases and value props were, and how how to go accurately position those value props um within those use cases that that that fit by industry.
Rob Bearden: um And it was a very surgical process. and And watching how the tech was built for very problem-specific outcomes, ah productized, and then put into, you know arguably one of the at the time, the best sales machines on planet Earth, um you know there there was a lot of great lessons learned, a lot of benefits that came out of that.
Rob Bearden: um And we applied some of those basics, but then we had to transform when we went into the JBoss world. And that that that that that tech was completely open source, completely free. And then contrast to I2 and Oracle, which were very were very much obviously license driven model, perpetual license driven models.
Rob Bearden: you know in the In the world of JBoss, it was all free, consume it all. And we had to figure out where the value proposition was and how to create value in an open source model that you could monetize and scale ah through the consumption model. And you know that that took a few cycles. The team really figured it out at at JBoss.
Rob Bearden: scale the revenue and and I think was very transformational in how you go make open source become enterprise viable and do it in a way where it can be consumed at scale for mission critical applications and the enterprise would pay at scale for it almost in parity with its proprietary competitors um and and to go build a scalable business model around that.
Rob Bearden: um And then and we applied those same principles at spring source and had you know similar results, similar outcomes, ah but but both using you know the transformation to open source and um and and the different and opera and moving to a subscription model as you monetize versus the um perpetual license model. So there was there was a lot of transformation that was happening both in how the tech was consumed and used and and the commercial models and how it was monetized.
Alejandro Cremades: Well, the exit of JBoss was pretty spectacular too. I mean, we’re talking about 650 million. So 2005 as well. That’s a remarkable. What do you think why were some of the key ingredients there for being able to accomplish such a nice outcome?
Rob Bearden: Well, yeah I think it was a testament to Mark Fleury’s vision around the tech um and and and what the capability of the tech was and the power of the open source model. And then I think Red Hat really saw the opportunity to take that And I would i would would suggest that that was the early days in the very beginning of what a product-led growth model actually was, because of course they had REL and you know had done a phenomenal job making the ah the Linux operating model work at scale for enterprise applications, made the whole ecosystem work around it, were monetizing at scale.
Rob Bearden: And then with its acquisition at JBoss, we’re able to go to the adjacent space, apply their principles of building, deploying open source, and monetizing it and and into the adjacent ah spaces and parts of the enterprise that they were already um had relationships and monetization.
Rob Bearden: and enterprise agreements in. And I would suggest that was the really the the first foundational steps to a PLG model. And you know they they they executed it extraordinarily well from everything from the acquisition, the integration, the applying it into their build, deploy model from an engineering standpoint and then rolling it into a commercial model that that drove um monetization at scale.
Rob Bearden: And you know they were able to replicate that and in a bunch of other places. And obviously, ultimately, you know had a $32 billion thirty two billion dollars outcome with IBM that that I think has gone extraordinarily well for both sides. So I think it was very foundational in operationalizing open source generally into enterprise and commercial models that set a standard that allowed enterprises to adopt open source for mission critical use cases and applications for the you know for the last 10, 15, 20 years.
Alejandro Cremades: So it sounds like just like you you did here on the transaction with JBoss, which was sold to Red Hat as we were talking for 650 million. Sounds like that 650 million also is a common theme because then you went to Spring Source where you were president in there, and that was scaled also and sold to VMware also for 650 million as well. Now, that was the immediate step that needed to be taken before you got going as an entrepreneur entrepreneur. So tell us about what were the immediate steps that needed to happen for you to end up founding what ended up becoming your first company, Hortonworks.
Rob Bearden: Well, you know after after the spring source acquisition, um yeah we we looked at the enterprise landscape and what were the biggest problems that that they were trying to solve. And this was obviously you know at the biggest advent of cloud and it’s in in its beginning of of of really um becoming mainstream and very validated for being able to run mission critical use cases and applications. And and in the IoT t of things were in full force. And we were seeing ah with Web 2.0 all of the data exhaust that was being generated.
Rob Bearden: And we I think but by definition, the enterprise understood the value of being able to capture all of the data about the transactions, the devices. um And the challenge was how to bring that, how to cat capture that, bring it under management and get value back from it. And how do you leverage new transformational business models with it?
Rob Bearden: And I think the the underlying thesis that a lot of enterprises had was if we can bring all of this disparate data under management at the right total cost of ownership, we can create very transformational high value business models to do things in our business models that we couldn’t do before. We can create more visibility to our customers. We can have more velocity with our supply chain. We can do better in product design and accelerate our our product build and delivery cycles.
Rob Bearden: whether it be tech or hard goods or or consumer goods. And it was very applicable in B2B and B2C models. But the challenge was there there wasn’t a platform that could really bring it under management with a TCO that could be leveraged to next generation platform and business models. And we saw what Yahoo was doing with Hadoop.
Rob Bearden: and how Yahoo had leveraged Hadoop to be the platform to manage across all their content across all their properties and to have leveraged that content into a clickstream revenue model that manifested itself in the form of advertising.
Rob Bearden: But but but the the common denominator was data data at scale. And in order to have data at scale with high velocity of refresh of capture and refresh, it required a new operating platform that they had to go build. They built it in an open source community. And and that that that was the manifestation of Hadoop.
Rob Bearden: in open source. and And we saw that there was a great opportunity to actually partner with Yahoo and to bring the core of Hadoop into a commercial company along with the brain trust. It was about 22 core individuals at Yahoo that were building an open source, the core of of Hadoop, and to bring them into that commercial entity with the goal of making it a commercial platform, but do it all in open source and make the big data market function around Hadoop, leveraging that platform. And that’s how Hortonworks launched. And it was launched as a partnership with Yahoo, spinning those core that core team of 22 engineers into Hortonworks,
Rob Bearden: with the goal of through the open source community, making Hadoop an enterprise viable data platform. And we did that in collaboration with Cloudera Legacy and in a collectively ah assembled ah four or 5,000 customers that were doing yeah mission critical applications and use cases at scale, largely in regulated industries.
Rob Bearden: um and And we ultimately saw a path to accelerate the market, drive a lot of efficiencies and synergies, both in terms of expense and revenue, ah by combining the companies in four or five years. And after taking both companies public, we put them together and improved that thesis ultimately right.
Rob Bearden: And you know at the at the end of of ah that integration, We had about a quarter, almost a third of the world’s data under management on the Hadoop platform between the two customer bases. um It generated a little over a billion dollars of revenue, about $960 million dollars of ARR and became a very profitable company. And and more importantly, was just incredibly transformation transformational
Rob Bearden: and how enterprises were able to transform their operating and business models to better serve their products, their customers, their supply chains. and you know And that opened up so many new opportunities across the board for how data and use case and value was constructed, leveraging data to do it.
Alejandro Cremades: Now, one thing that is a really remarkable there is, say as you were saying, you know how how the two companies come together and how you ended up packaging it and going through a transaction that you led there that ended up being $5.3 billion to a private equity firm. Obviously, in the past, you were doing transactions, as we said, you know all the way up to $650 million.
Alejandro Cremades: But I mean, this is like the three, the three comma club. And so really a spectacular, you know, like to be able to go through a transaction like that. I guess when you achieve a size of that nature, I mean, how is the transaction different from what you were used to perhaps before?
Rob Bearden: Well, yeah just a a couple of clarity points. So we we did bring the two companies together, Hortonworks and Cloudera Legacy. um And I remained on the board post that transaction. And you know the management team that that stayed to run the company did a great job integrating the companies, rationalizing the the roadmap.
Rob Bearden: rationalizing the the transition from each of the legacy platforms to the to the new platform tech, um you know opening the aperture for many, many new kinds of use case and value drivers. And then ultimately, I did come back as CEO of the combined company and um and you know had the had the privilege, quite frankly, of working with um that leadership team And we got very focused on really just taking the you know the opportunity
Rob Bearden: to capture those synergies at full scale that the thesis of the combined company we felt like we could achieve. And and so we got very focused in a balance between growth of ARR as well as um operating margin at scale and finding and finding the balance between those. um And at the same time, doing it in a way where we could create bigger and wider value for the customer bases in the kinds of ah use cases that they could enable, ah the value like value levers that they had the ability now to go capture in the new platform with the new company,
Rob Bearden: um and and and grow their volume of data, the use case they’re driving, and quite frankly, um spend more money with with the company and taking advantage of the new products that the company had built. you know And what that did was it it drove the synergies to the upside on the revenue past the billion dollar mark. But with that scale, we had to become very disciplined about also delivering at scale operating margin.
Rob Bearden: and and And we had to really go through operating margin expansion from you know low 20s into the 40s and 50s and become a rule of 50 company. um And and and you know and that that’s important as a company matures through its life cycle.
Rob Bearden: and and becomes a great steward of value to its customer base. And you know that’s what the cloud era team was very focused on. ah it It deeply operationalized that. It had a lot of support from the board to do that. And and as we did that,
Rob Bearden: and the private equity buyers saw that as is a great opportunity um for in a in a and a long tail horizon to continue to serve a very strategic customer base and an invaluable asset around data to continue to build and capture value for the customers that will continue to scale both in terms of revenue and an operating margin and free cash flow.
Rob Bearden: and ah you know And they’ve done a good job proving that model through um you know well past, certainly my exit, and you know continue to you know do great things with innovation for that that customer base they serve. And so that’s been cool watching them continue on with their operating model execution.
Alejandro Cremades: So then, as they say, once an entrepreneur, always an entrepreneur. So um you know right after this chapter, it was time to get going again. and so And this is your latest baby. So let’s talk about what you’re up to now, you know what this next company you know has been as a journey, and and how did the whole idea you know for semaphore.ai, how did that come knocking?
Rob Bearden: Yeah, i mean I wish I were smart enough to actually know how to go through pattern recognition. um But if ah if I look back you know and and and in each of the iterative loops that that my career has is been fortunate enough to go through,
Rob Bearden: I was part of the early days of VRP. And then you know very much the business app side of supply chain. And then the open source models for both JBoss and SpringSource. And then the advent of big data in cloud, Hortonworks and Cloudera. And you know and as we see the transformation that’s happening right now,
Rob Bearden: across the enterprise, it’s how do we leverage AI to be, again, transformational in our business models, right? Certainly there’s value drivers in particular use cases. Certainly there’s value drivers in particular line of business opportunities. But it’s really at the macro of how do we leverage AI in an enterprise viable way to accelerate our business model transformation using the enabling technology that AI creates um to drive more efficient more efficiency with my products, with my customers, through my supply chain, and how do I create more efficiencies, both in terms of
Rob Bearden: new revenue creation that comes through that, as well as more efficiency in my operating margin and model because of ah of of how I transform my business models through my product innovation, my supply chain efficiency, and how I better serve my customer through AI.
Rob Bearden: um you know and And we had some pretty good points of view of where those value drivers were and the problems that needed to be solved to enable the enterprise to do it with the advent of LLMs and generative AI, leveraging data to to to enable it. And um that’s what drove ah the inspiration for semaphore and we feel like
Rob Bearden: there is a time to market element that’s important. And there’s an opportunity to be definitional and in terms of how generative AI applications are built, deployed, and managed through intelligent agents. And we saw an offer an opportunity to accelerate how to execute on that vision and opportunity. And so we were fortunate enough to be able to bring um semaphore in its early form factor together with RoboCorp um ae and and to finance the combined entity in a way that allowed us to accelerate the great architectural decisions and work that RoboCorp had done in the automation layer.
Rob Bearden: with our vision for intelligent agents that we wanted to go ah construct to get sort of the next generation of AI business apps in motion. And we felt like the the combined entity saved us literally a couple of years of build and go to market.
Rob Bearden: And ah you know to many degrees, I think that thesis has proven accurate. And we’ve been very fortunate ah ah to have that Revacorp team. Aunty, as its CEO, has become a founder here with us. ah And we’ve been able to leverage the great work in both the tech platform and their customer base, and then able to to apply our intelligent agent infrastructure with the Robocore planning, scheduling, automations, and control plane um capabilities. And it’s accelerated um the use cases that the existing Robocore customers have been able to accomplish, as well as it’s opened our aperture up much faster
Rob Bearden: to a to you know ah very wide audience for a number of very targeted use cases that are you know quick to value realization. And so seeing that model that transformation model with the enabling technology of LLM, generative AI with our intelligent agents,
Rob Bearden: um is is is is showing you know it sort of it’s its ability to gain traction faster than really any of the other companies that we’ve done before. So that’s been a lot of fun to be part of.
Alejandro Cremades: So talk to us about raising money here, Rob, because obviously after ah all these incredible ah transactions that you’ve done and a hell of a resume that you have, you know I’m sure that the investors you know were really ah you know not even thinking about jumping in and and and giving you guys a check, I’m sure. So how did you guys go about raising money here? Why did you take the money from the people that you did? And also how much money have you raised you stay in total?
Rob Bearden: Yeah, well, you know, we’ve been very, very fortunate. um I specifically have been very fortunate to have had a relationship with Benchmark for over 20 years. You mentioned JBoss, SpringSource, Hortonworks, what became Cloudera. I’ve been fortunate enough that Peter Fenton and and Benchmark have stood behind me and and and financed all those companies. and um you know, given us awesome guidance and input and kept kept us on a very efficient path. um You know, and we looked at what we were doing next, um you know, began to just have great collaboration with Peter Fenton and the and the Eric and Chet and the rest of the team and Sarah. And, you know, they we we we we began to really transpose on
Rob Bearden: that AI in an enterprise level is going to manifest itself and in terms of intelligent agents. And that was very much in alignment with um ah with how Naveen at Mayfield saw the market moving and and um and how the enterprise would embrace and enable AI.
Rob Bearden: um and And so it became a very natural alignment, a very natural fit between their vision and how their thesis of AI was going to be applied pragmatically and at scale for enterprise use case enablement, i.e. through intelligent agents. And and so it just became a natural gravitational pull ultimately um between Naveen Peter, Benchmark, and Semaphore, and ultimately bringing Robocorp into into that as well at the same time, it just naturally pulled itself together. um And we were very fortunate to have the support of Peter and Naveen and the rest of their partners. um And so we’ve been in we we we we initially raised $30.5 million dollars
Rob Bearden: post-acquisition of Robocorp and we’ve been very efficient with the capital. We’re very focused on targeted use cases within the enterprise. We’ve been fortunate enough to get, you know, I think the right cohort of co-dev or design partners um at the right scale of enterprise who are very meticulously and surgically focused on solving very deliberate problems with agents. And it’s been a great partnership working with them. um And we’re very close to having you know ah ah a handful of them. We’re hopeful in production at scale, you know driving a lot of efficiency and accuracy in their AI.
Rob Bearden: application model by the end of this year. And then I think we’ll really be off to the races and be able to scale from there.
Alejandro Cremades: um Amazing. think So obviously, you know the caliber of investors that you got on board is say is really remarkable. And I’m sure that at the end of the day, employees, customers, also investors, they look at the vision. So with that in mind, you know let’s say if you were to go to sleep tonight, Rob, and you wake up in a world where the vision of Semaphore is fully realized, what does that world look like?
Rob Bearden: Yeah, well, I think i think what but the opportunity that we we we believe in deeply and get, you know, daily confirmation is the enterprise is has to transform how they do work. and And they have to be able to bring much more efficiency and accuracy in how their knowledge workers do work.
Rob Bearden: And between LLMs and generative AI and and and through intelligent agents and the proper infrastructure to enable it, they can realize that opportunity at scale.
Rob Bearden: And so I think we’re going to see a world much sooner rather than later where every knowledge worker has an intelligent agent that that’s really up-leveling the volume, capacity, efficiency, and accuracy of the work that they do.
Rob Bearden: and And it’s gonna bring, as a result of that, not only a lot more efficiency that’ll show up in things like operating margin, but I think what it’s gonna be able to do more importantly is transform the velocity and the kinds of applications and business and ultimately business models that they can go realize. And so if you think about from old world to new world, in the old world,
Rob Bearden: um that we’re just graduating from, customers wanted to bring data under management so they could make quote, data-driven decisions, right? And they would use that data to make decisions on how they would better innovate a product or better serve a customer, get more efficiency in logistics or supply chain.
Rob Bearden: And they now understand what the best-in-class outcomes or the best-in-class KPIs um or what the bar is that the auditors want, need, and require them to get over. They understand the standard of work that has to happen to get a particular job function or process done.
Rob Bearden: and they want to be able to transition from making data-driven decisions to actioning the work autonomously from end to end.
Rob Bearden: and and using intelligent agents to do that and ah in using humans um to help them go through that reasoning process and can be an exception manager versus a manual execution agent.
Rob Bearden: and and And so you’ll see that transition happen and that enablement happen with intelligent agents and you’ll see better, certainly operating efficiencies and operating margins, but more importantly, you’ll see better velocity of work, more accuracy of work, new kinds of of applications being able to be driven for how products are built how customers are served, ah how product is sold, and how supply chains are orchestrated and ultimately delivered. ah And it’ll allow the human to do
Rob Bearden: higher ah higher efficiency level kinds of work that they’re not able to get to today. And so it’ll it just creates higher value and better velocity in the enterprise operating models. And um you know and now we’re going to have to think about how to manage, how to enable the life cycle of these agents and how to manage these agents at scale. And that’s what the semaphore platform is designed to do.
Alejandro Cremades: so Let’s say ah now I bring you back in time. okay so We’re talking about the future, but I want to talk about the past to the lens of reflection. so I bring you back in time to that moment where you were maybe like thinking about starting your own thing you know right after Spring Source, right before you were going at it with Hortonworks. Let’s say you’re able to give yourself one piece of advice for launching a business. What would that be and why? Give me what you know now.
Rob Bearden: Yeah, you know, I underappreciated when we started Hortonworks, the importance of really knowing and understanding on one axis, the business model, granularity of the business model that you you want to create.
Rob Bearden: um On the other axis, I underappreciated um the importance of having use case specific outcomes that you’re trying to create for the customer.
Rob Bearden: and to be able and and and the lack of appreciation of not having surgical focus on what those use cases were that we were trying to enable very specifically for a customer by line of business, by persona, um with a very that that was underpinned by a very specific operating and business model um And we had to feel our way and sometimes not very eloquently quite frankly but it but because of um my my lack of experience at scale in those days. um But learning and appreciating when you dial those things in and get them right um combined with
Rob Bearden: still keeping the innovation spirit of building the next generation of tech to enable those things. And when you figure out how to balance that, then you come up with things that are very special and can go to scale. um and And so those were those were key lessons and and in retrospect learned post Hortonworks.
Alejandro Cremades: That’s amazing. So Rob, for the people that are listening that would love to reach out and say hi, what is the best way for them to do so?
Rob Bearden: Yeah, anytime, happy to help ah if I can be in any way, shape, or form, Rob at semaphore.ai. ah Reach out to me anytime. I’ll try to get back to you within 24 hours and um always glad to glad to help in any way possible.
Alejandro Cremades: Amazing. Well, hey, Rob, thank you so much for being on the Deal Maker Show today with us. It has been an honor.
Rob Bearden: It’s been my pleasure and I’m a huge fan of you and the show and thanks for all you do to to to bring the visibility to all of us on ah on these great topics you bring forward every week. Thank you.
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