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ู
ุง ูุฌุจ ุนููู ูุนูู ูู ุงูุชูุนุงู
ู ู
ุน ุดุฑูุงุช ูุณุงุฆู ุงูุฅุนูุงู
ูุงุณุชุซู
ุงุฑ. | What you should do is you should treat media companies as a business. |
ุฅููู ูู
ุซูู ุจููู ุงูุญุงูุงุช ุงุณุชุซู
ุงุฑุง. | It's business anywhere. |
ูุงูุฅุณุชุซู
ุงุฑ ูู ูุณุงุฆู ุงูุฅุนูุงู
ุ ุฃู ุฃู ุฅุณุชุซู
ุงุฑ ุขุฎุฑุ ููุฒู
ู ุชู
ููู. | Media business, or any other business, it needs to be capitalized. |
ูู
ุง ูุญุชุงุฌู ูุคูุงุก ุงูุฑุฌุงูุ ูู ุงููุงูุนุ ูู ุงูุญุตูู ุนูู ุฑุฃุณ ุงูู
ุงู. | And what these guys need, actually, is access to capital. |
ูู ุงูุฅุฌุชู
ุงุน ุงูุซุงูุซุ ูุงูุช ุงูุญุฌุฌ ู
ุนุฑูุถุฉ ุจุดูู ุฌููุฏ. | So third meeting, arguments are pretty well exercised. |
ููู ููุงูุฉ ุงูุฌูุณุฉ ูุงู : ุฃูุธุฑุ ูู ููุฌุญ ูุฐุง ุงูุฃู
ุฑุ ููู ุชุชู
ููู ู
ู ุฅุณุชุฑุฌุงุน ุฃู
ูุงูู. ูููู ู
ุคุณูุณุชู ุณุชุถุน ุนูู ุฐู
ูุชู 500.000 ุฏููุงุฑ ุญุชู ุชุชู
ููู ู
ู ุชุฌุฑูุจ ูุฐู ุงูููุฑุฉ. | At the end of the meeting he says, look, it is not going to work; you will never see your money back; but my foundations will put 500,000 dollars so you can test the idea. |
ูุฃุฑุฏู: ุฅุฐุง ุงูุชุดูุช ุฃูู ูุฐุง ุงูุฃู
ุฑ ูู
ููุฌุญ. | See that it will not work. |
ุณุฃุนุทูู ุญุจูุง ูุชุดูู ููุณู. | He said, I'll give you a rope to hang yourself. |
ุนุฑูุช ุดูุฆูู ุจุนุฏ ุฐูู ุงูุงุฌุชู
ุงุน. | I knew two things after that meeting. |
ุงูุฃููุ ุฃููู ูุง ุฃูุฏู ุฃู ุฃุดูู ููุณู ุชุญุช ุฃู ุธุฑู ู
ู ุงูุธุฑูู. | First, under no circumstances I want to hang myself. |
ูุงูุซุงููุ ุฃููู ููุณ ูุฏูู ุฃูุฉ ููุฑุฉ ุนู ููููุฉ ุฌุนูู ููุฌุญ | And second, that I have no idea how to make it work. |
ูู
ุง ุชุฑููุ ูุนูู ู
ุณุชูู ุงูู
ูููู
ุ ููุฏ ูุงู ู
ูููู
ุง ุนุธูู
ุง. | You see, at the level of a concept, it was a great concept. |
ูููู ุฃู ูููู ูุดูุก ู
ุง ู
ูููู
ุ ููุฐุง ุดูุก ู
ููุตู ุชู
ุงู
ุง ุนู ุฌุนูู ููุฌุญ. | But it's one thing to have a concept; it's a totally separate thing to actually make it work. |
ููู
ุชูู ูู ุฃูุฉ ููุฑุฉ ุนูู ุงูุฅุทูุงู ููู ูู
ูู ุฃู ุฃุฌุนูู ููุฌุญ. | So I had absolutely no idea how that could actually work. |
ูุงูุช ููุฑุฉ ุฎุงุทุฆุฉุ ุงุนุชูุฏุช ุฃูู ุจุฅู
ูุงููุง ุฃู ูููู
ุจุฏูุฑ ุงูุจูู. | Had the wrong idea; I thought that we can be a bank. |
ูู
ุง ุชุนูู
ูู ุงูุจูููุ ูุฃูุง ูุง ุฃุนุฑู ุฅุฐุง ูุงู ููุงู ู
ุตุฑููููู ู
ู ุจูููุงุ ุฃูุง ุฃุนุชุฐุฑ ููู
ู
ูุฏูู
ุงุ ูููู ูุฐุง ุฃูุถู ุนู
ู ูู ุงูุนุงูู
. | You see banks -- I don't know if there are any bankers over here; I apologize in advance -- but it's the best job in the world. |
ุชุนูู
ููุ ุชุฌุฏ ุดุฎุต ู
ุง ู
ุญุชุฑู
ุง ู ูุฏูู ุงููุซูุฑ ู
ู ุงูู
ุงู. | You know, you find somebody who is respectable and has a lot of money. |
ุชู
ูุญูู
ุงูู
ุฒูุฏ ู
ู ุงูู
ุงูุ ููุณุฏูุฏูู ุนูู ู
ุฏู ูุชุฑุฉ ุฒู
ููุฉ. | You give them more money; they repay you that over a time. |
ูู
ููู ุฌู
ุน ุงูููุงุฆุฏ ุฏูู ุงูููุงู
ุจุฃูู ุนู
ู. | You collect interest and do nothing in between. |
ูุฐูู ููุฑุชุ ูู
ุงุฐุง ูุง ููุฎุฑุท ูู ูุฐุง ุงูุนู
ูุ | So I thought, why don't we get into that business? |
ูุฐูู ุญุตููุง ููุง ุนูู ุนูู
ููููุง ุงูุฃูููุ ูุงู ุดุฎุตุง ูุงู
ุนุง. | So here we are having our first client, brilliant. |
ุฃูู ุตุญููุฉ ู
ุณุชููุฉ ูู "ุณูููุงููุง". | First independent newspaper in Slovakia. |
ูุงู
ุช ุงูุญููู
ุฉ ุจุญุฑู
ุงููุง ู
ู ุฌู
ูุน ู
ุฑุงูู ุงูุทุจุงุนุฉ ูู "ุจุฑุงุชูุณูุงูุง". | The government cutting them off from all the printing facilities in Bratislava. |
ููุฐูู ุฃุตุจุญ ูุฏููุง ุตุญููุฉ ููู
ูุฉุ ูุฌุจ ุฃู ุชุชู
ู ุทุจุงุนุชูุง ุนูู ุจุนุฏ 400 ููููู
ุชุฑุง ู
ู ุงูุนุงุตู
ุฉ. | So here's the daily newspaper that has to be printed 400 kilometers away from the capital. |
ุฅููุง ุฌุฑูุฏุฉ ููู
ูุฉ ู
ุน ู
ูุนุฏ ููุงุฆู ููุชูุฒูุน ู
ุญุฏุฏ ูู ุงูุณูุงุนุฉ ุงูุฑูุงุจุนุฉ ุตุจุงุญุง | It's a daily newspaper with a deadline of 4 p.m. |
ูุฐุง ูุนูู ุฃููู
ููุณ ูุฏููู
ุฃุฎุจุงุฑ ุงูุฑููุงุถุฉุ ููุณ ูุฏููู
ุขุฎุฑ ุงูุฃุฎุจุงุฑุ ูุงูุฎูุถ ุชุฏุงูููุง. | That means that they have no sports; they have no latest news; circulation goes down. |
ุงููุง ุทุฑููุฉ ูุงุนู
ุฉ ู ุฐุงุช ูุงุนูููุฉ ูุชุถููู ุงูุฎูุงู ุงูุชุตุงุฏูุง ุนูู ุตุญููุฉ ููู
ููุฉ. | It's a kind of very nice, sophisticated way how to economically strangle a daily newspaper. |
ููุฏูู
ูุง ุฅูููุง ุจุทูุจ ููุญุตูู ุนูู ูุฑุถ. | They come to us with a request for a loan. |
ุงููู
ูุฑูุฏูู -- ุงูุณุจูู ุงููุญูุฏ ูุฏููู
ููุจูุงุก ุนูู ููุฏ ุงูุญูุงุฉ ูู ุงูุญุตูู ุนูู ู
ุทุจุนุฉ ุฎุงุตูุฉ ุจูู
. | They want to -- the only way for them to survive is to get a printing press. |
ููููุงุ ููุงู -- ูุฐุง ุฌููุฏุ ุฏุนููุง ูุฌุชู
ุนุ ูุฏูู
ูุง ููุง ุฎุทุฉ ุนู
ููู
ุ ููุฐุง ู
ุง ูุนููู ูู ุงูููุงูุฉ. | And we said, that's fine; let's meet; you'll bring us your business plan, which eventually they did. |
ุจุฏุฃูุง ุงูุฅุฌุชู
ุงุน. | We start the meeting. |
ุฃุฎุฐุช ูุทุนุชูู ุงููุฑู ูุฐููุ ูููุณุง ู
ุซู ูุฐูู ุชู
ุงู
ุงุ ูุงูุง ุนูู ุดูู "A4" ูุฐูู ูุงูุง ุฃูุจุฑ ุญุฌู
ุง. | I get these two pieces of paper, not like this, A4 format, so it's much bigger. |
ูุงูุช ุชุญูู ุงููุซูุฑ ู
ู ุงูุฃุฑูุงู
. ุงููุซูุฑ ู
ู ุงูุฃุฑูุงู
. | A lot of numbers there. A lot of numbers. |
ูููู ุญุชูู ู ุฅู ูุถุนุชูุงุ ูุฅู ุงูุฃุฑูุงู
ูุง ุชุนุทู ุฃูู ู
ุนูู. | But however you put it, you know, the numbers do not make any sense. |
ููุฐุง ุฃูุถู ู
ุง ูู
ูู ุฃู ุชูุนูู. | And that's the best they could do. |
ููุง ุฃูุถู ู
ุง ูู
ูููู
ุงูููุงู
ุจู. | We were the best that they could do. |
ุจุญูุซ ูู
ูููุง ููู
ู
ุงูููุฉ ุฃุณููุจูุง. | So that is how we understood what our method is. |
ุงููุง ููุณุช ุจููุง. ููุงู ุนูููุง ุงูุฅุชูุตุงู ุจูุฐู ุงูุดุฑูุงุช ูุงูู
ุทุงูุจุฉ ุจุนุงุฆุฏุงุชูุง ุนู ุทุฑูู ู
ุฑุงููุชูู
-- ุนู ุทุฑูู ุฅูุดุงุก ูุธู
ุงูุฅุฏุงุฑุฉุ ุนุจุฑ ุชูููุฑ ุชูู ุงูู
ุนุฑูุฉุ ููู ูู
ูู ุฅุฏุงุฑุฉ ุงูุฃุนู
ุงู ูุฐุง ู
ู ูุงุญูุฉ -- ุจููู
ุง ุฌู
ูุนูู
ูุนูู
ูู ููููุฉ ุฅุฏุงุฑุฉ ู ุฅูุดุงุก ุงูู
ุญุชูู. | It's not a bank. We had to actually go into these companies and earn our return by fixing them -- by establishing management systems, by providing all that knowledge, how do you run a business on one side -- while they all know how to run, how to create content. |
ุณุฃููุฒ ุจุณุฑุนุฉ ูุญู ุงููุชุงุฆุฌ. | Just quickly on the results. |
ุฎูุงู ูุฐู ุงูุณููุงุช ุงูุนุดุฑุ ุฃููููุง 40 ู
ูููู ุฏููุงุฑ ูู ุงูุชู
ููู ุจุฃุณุนุงุฑ ู
ุนูููุฉุ ู
ุชูุณุท ุณุนุฑ ุงููุงุฆุฏุฉ ูุงู 5 ุงูู 6 ูู ุงูู
ุฆุฉ. | Over these 10 years, 40 million dollars in affordable financing, average interest rate five percent to six percent. |
ูู
ูุง ูู ุงูุขููุฉ ุงูุฃุฎูุฑุฉ ุจุงูุถุบูุท ููููุงุ ูููุง ูุทุงูุจ ุจูุณุจุฉ 7 ูู ุงูู
ุงุฆุฉ ู
ู ููุช ูุขุฎุฑ. | Lately we are going wild, charging seven percent from time to time. |
ูู
ูุง ุจุฐูู ูู 17 ุจูุฏุง ู
ู ุจูุฏุงู ุงูุนุงูู
ุงูููุงู
ู. | We do it in 17 countries of the developing world. |
ูููุง ูุฏููุง ุฃูุซุฑ ุนุฏุฏ ู
ุฐูู. | And here is the most stunning number. |
ู
ูุนูุฏููู ุงููุณููุฏูุงุฏ-- ููุฐุง ุฃูุซุฑ ู
ุง ูุงู ูุฎุดุงู "ุณูุฑูุณ" -- 97 ูู ุงูู
ุฆุฉ. | Return rate -- the one that Soros was so worried about -- 97 percent. |
ูุญุตููุง ุนูู 97 ูู ุงูู
ุฆุฉ ู
ู ู
ุจุงูุบ ุงูุชูุณุฏูุฏ ุงูู
ูุฑูุฑุฉ ุจุฏูู ุฃูู ุชุฃุฎูุฑ. | 97 percent of all the scheduled repayments came back to us on time. |
ู
ุงุฐุง ูููุง ููู
ูููููู ุนุงุฏุฉุ | What do we typically finance? |
ููู
ููููู ุฃูู ุดูุก ูู
ูู ุฃู ุชุญุชุงุฌ ุฅููู ุดุฑูุฉ ูุณุงุฆู ุงูุฅุนูุงู
ุ ู
ู ุงูู
ุทุงุจุน ุฅูู ุฃุฌูุฒุฉ ุงูุฅุฑุณุงู. | We finance anything that a media company would need, from printing presses to transmitters. |
ู
ุง ูู ุฃูุซุฑ ุฃูู
ูุฉ ูู ุฃููุง ูููู
ุจุฐูู ุฅู
ุง ูู ุดูู ูุฑูุถ ุฃู ุฃุณูู
ุฃู ุฅูุฌุงุฑ ู
ุงููู -- ูู ู
ุง ูู ู
ูุงุณุจ ูุฏุนู
ุฃู ุดุฎุต. | What is most important is we do it either in form of loans, equities, lease -- whatever is appropriate for, you know, supporting anybody. |
ูููู ุงูุฃูู
ู ููุง ููุ ู
ู ุงูุฐูู ูููู
ุจุชู
ููููู
ุ | But what is most important here is, who do we finance? |
ูุญู ูุนุชูุฏ ุฃูู ูู ุงูุณููุงุช ุงูุนุดุฑ ุงูุฃุฎูุฑุฉ ู
ูุซูููุช ุงูุดูุฑูุงุช ุงูุชู ูู
ูุง ุจุชู
ููููุง ุฃููุถู ุดุฑูุงุช ูุณุงุฆู ุงูุฅุนูุงู
ูู ุงูุนุงูู
ุงููุงู
ู. | We believe that in the last 10 years companies that we've financed are actually the best media companies in the developing world. |
ุฅูููุง ุงููุงุฆู
ุฉ ุงูุฐูุจููุฉ | That is a "Who is Who" list. |
ููู
ูู ุฃู ุฃุชุญุฏูุซ ุนููุง ูุณุงุนุงุชุ ูุฃูููู
ุฌู
ูุนุง ุฃุจุทุงู. | And I could spend hours talking about them, because they're all kind of heroes. |
ูุฃุณุชุทูุนุ ูููู -- ุณุฃูุฏูู
ู
ุซุงูุงุ ุฑุจู
ุง ูุงุญุฏุง ููุทุ ูุงุนุชู
ุงุฏุง ุนูู ุงูููุช ูุฏ ุฃูุฏูู
ููู
ู
ุซุงููู ููุฐูู ูุนู
ู ู
ุนูู
. | And I can, but I'll give you just, maybe one, and depending on time I may give you two examples who we work with. |
ุจุฏุฃูุง ุงูุนู
ู ูู ุฃูุฑูุจุง ุงูุดุฑููุฉ ูุงููุณุทูุ ูุงูุชูููุง ุงูู ุฑูุณูุง. | You see we started working in Eastern and Central Europe, and moved to Russia. |
ุงููุฑุถ ุงูุฃูู ุงูุฐู ูุฏูู
ูุงู ูู ุฑูุณูุง ูุงู ูู "ุชุดูููุงุจููุณู". | Our first loan in Russia was in Chelyabinsk. |
ุฃุฑุงูู ุฃูู ูุตููู
ูู
ูุณู
ุน ู
ู ูุจู ูุท ุนู ุฐูู ุงูู
ูุงู. | I'll bet half of you have never heard of that place. |
ููุฌุฏ ูู ุฌููุจ ุฑูุณูุง ููุงู ุฑุฌู ููุฏุนู "ุจูุฑูุณ ูููููุงูููุชุด ูุฑุดุงูู"ุ ูุงูุฐู ููุฏูุฑ ุตุญููุฉ ู
ุณุชููุฉ ููุงู. | In the south of Russia there's a guy called Boris Nikolayevich Kirshin, who is running an independent newspaper there. |
ูุงูุช ุงูู
ุฏููุฉ ู
ุบููุฉ ุญุชู ุฃูุงุฆู ุงูุชูุณุนูููุงุช ูุฃู ูู ู
ุง ูู ุงูุฃู
ุฑุ ูุงููุง ูููุชุฌูู ุฒุฌุงุฌ ุทุงุฆุฑุงุช "ุงูุชูุจูููู ". | The city was closed until early '90s because, of all things, they were producing glass for Tupolev planes. |
ุนูู ุฃู ุญุงูุ ุฅูู ููุฏูุฑ ุตุญููุฉ ู
ุณุชููุฉ ููุงู. | Anyway, he's running independent newspaper there. |
ุจุนุฏ ุนุงู
ูู ู
ู ุงูุนู
ู ู
ุนูุงุ ุฃุตุจุญุช ุงูุตุญููุฉ ุงูุฃูุซุฑ ุงุญุชุฑุงู
ุง ูู ุฐูู ุงูู
ูุงู ุงูุตุบูุฑ. | After two years working with us, he becomes the most respected newspaper in that small place. |
ูู ููู
ู
ุง ุฃุชุงู ุงูู
ุญุงูุธุ ุฃู ุฏุนุงู ููุญุถูุฑ ุฅูู ู
ูุชุจู. | Governor comes to him one day, actually invites him to come to his office. |
ุฐูุจ ููุฑู ุงูู
ุญุงูุธ. ููุงู ูู ุงูู
ุญุงูุธุ "ุจูุฑูุณ ูููููุงูููุชุด"ุ ุฃูุง ุฃููู
ุฃููู ุชููู
ุจุนู
ู ุนุธูู
ุ ูุฃูููู
ุชู
ุซูููู ุงูุตุญููุฉ ุงูุฃูุซุฑ ุงุญุชุฑุงู
ุง ูู ู
ูุงุทุนุชูุง. | He goes and sees the governor. The governor says, Boris Nikolayevich, I understand you are doing a great job, and you are the most respected newspaper in our district. |
ูุฃุฑูุฏ ุฃู ุฃูุฏูู
ูู ุนุฑุถุง. | And I want to offer you a deal. |
ูู ุจุฅู
ูุงูู ู
ู ูุถูู ุฃู ุชุนุทููู ุตุญููุชู ููุฃุดูุฑ ุงูุชุณุนุฉ ุงูู
ูุจูุฉุ ูุฃูู ูุฏูู ุฅูุชุฎุงุจุงุช -- ููุงู ุฅูุชุฎุงุจุงุช ูุงุฏู
ุฉ ูู ุบุถูู ุชุณุนุฉ ุฃุดูุฑ. | Can you please give me your newspaper for the next nine months, because I have elections -- there are elections coming up in nine months. |
ุฃูุง ูู ุฃุดุงุฑู ูููุงุ ูููู ู
ู ุงูู
ูู
ุฌุฏุง ุจุงููุณุจุฉ ูู ู
ู ุงูุฐู ุณูููุฎูููููููู. | I will not run, but it's very important for me who is going to succeed me. |
ุฅุฐู ุฃุนุทูู ุงูุฌุฑูุฏุฉ ูู
ุฏุฉ ุชุณุนุฉ ุฃุดูุฑุ ูุณูู ุฃุนูุฏูุง ูู. | So give me the paper for nine months. I'll give it back to you. |
ููุณ ูุฏู ุฃูู ุฅูุชู
ุงู
ุจุงูุฅูุถู
ุงู
ุฅูู ุงูุฃุนู
ุงู ุงูุชุฌุงุฑูุฉ ูู ูุณุงุฆู ุงูุฅุนูุงู
. | I have no interest in being in media business. |
ูู
ุชุทูุจ ุซู
ูุง ูุฐููุ | How much would that cost? |
ุฃุฌุงุจ "ุจูุฑูุณ ูููููุงูููุชุด": "ุฅูููุง ููุณุช ููุจูุน". | Boris Nikolayevich says, "It's not for sale." |
ูุฃุฌุงุจ ุงูู
ุญุงูุธ : "ุณูู ููุบูู ุงูุฌุฑูุฏุฉ". | The governor says, "We will close you." |
ูุฃุฌุงุจ "ุจูุฑูุณ ูููููุงูููุชุด": "ูุงุ ูุง ูู
ููู ููุนููู ุฐูู". | Boris Nikolayevich says, "No, you cannot do it." |
ุจุนุฏ ู
ูุถูู ุณุชูุฉ ุฃุดูุฑ ุฃูุบููุช ุงูุตูุญููุฉ. | Six months later the newspaper was closed. |
ูุญุณู ุงูุญุธ ูุงู ูุฏููุง ู
ุง ูููู ู
ู ุงูููุช ูู
ุณุงุนุฏุฉ "ุจูุฑูุณ ูููููุงูููุชุด" ุญู
ููุง ุฌู
ูุน ุงูู
ูุฌูุฏุงุช ู
ู ุชูู ุงูุดุฑูุฉ ูุฃูุฏุนูุงู ุงูู ูุงุญุฏุฉ ุฌุฏูุฏุฉุ ููุญุตูู ุนูู ูู ููุงุฆู
ุงูุฅูุชุชุงุจุ ูุฅุนุงุฏุฉ ุชุนููู ุงูู
ูุธููู. | Luckily, we had enough time to help Boris Nikolayevich take all the assets out of that company and bring him into a new one, to get all the subscription lists, rehire staff. |
ูุฐูู ููู ู
ุง ุญุตู ุนููู ุงูู
ุญุงูุธ ูุงู ููููุง ูุงุฑุบุง. | So what the governor got was an empty shell. |
ูููู ูุฐุง ู
ุง ูุญุฏุซ ุฅุฐุง ููุช ูู ู
ุฌุงู ุงูุฃุนู
ุงู ุงูุชุฌุงุฑูุฉ ูู ูุณุงุฆู ุฅุนูุงู
ุงูู
ุณุชููุฉุ ูุฅุฐุง ููุช ู
ุตุฑูููุง ููุณุงุฆู ุฅุนูุงู
ู
ุณุชููุฉ. | But that is what happens if you're in business of independent media, and if you are a banker for independent media. |
ูุฐูู ุชุจุฏู ููุฃููุง ูุตุฉ ูุจูุฑุฉ. | So it sounds like a great story. |
ูู ู
ูุงู ู
ุง ุนูู ุงูุทุฑูู ูุชุญูุง ู
ุฑูุฒุง ูุฅุฏุงุฑุฉ ูุณุงุฆู ุงูุฅุนูุงู
. | Somewhere down the road we opened a media management center. |
ุฃูุดุฃูุง ู
ุฎุชุจุฑ ูุณุงุฆู ุงูุฅุนูุงู
ุ ูุฐุง ูุจุฏู ููุฃูู ูุตุฉ ุญููููุฉ ูุจูุฑุฉ. | We started our media lab, sounds like a real great story. |
ูููู ููุงู ุฒุงููุฉ ุซุงููุฉ ูุฐูู. | But there is a second angle to that. |
ุงูุฒุงููุฉ ุงูุซุงููุฉุ ูู
ุง ุดุงูุฐูุง ูู ูุฐุง ุงูู
ูุทุน. | The second angle, like in this clip. |
ุฅุฐุง ุฃุฎุฐุช ุงููุงู
ูุฑุง ุฃุนูุงูุ ุนููู ุฃู ุชุจุฏุฃ ุจุงูุชูููุฑ ู
ุฌุฏูุฏุง ุญูู ูุฐู ุงูุฃุฑูุงู
. | If you take the camera above, you start thinking about these numbers again. |
40 ู
ูููู ุฏููุงุฑ ุนูู ู
ุฏู 10 ุณููุงุช ู
ูุฒูุนุฉ ุนูู 17 ุจูุฏุง. | 40 million dollars over 10 years spread over 17 countries. |
ูุฐุง ููุณ ุจุงููุซูุฑุ ุฃููุณ ูุฐููุ | That is not too much, is it? |
ุฅูููุง ูู ุงููุงูุน ู
ุฌุฑุฏ ูุทุฑุฉ ูู ุจุญุฑ. | It's actually just a drop in the sea. |
ูุฃูู ุนูุฏู
ุง ุชูููุฑ ูู ุงูุฃูู
ูุฉุ ุจุนุถ ุงููุถุงูุง ุงูุชู ูุงูุดูุงูุง ูููุฉ ุฃู
ุณ -- ูุฐู ุงูุฏูุฑุฉ ุงูุฃุฎูุฑุฉ ุชุญุฏูุซูุง ุญูู ุฅูุฑูููุง ู ู
ุจูุบ 50 ู
ููุงุฑ ุฏููุงุฑ ุงูุฅูุชุฑุงุถูู ุงูู
ุฎุตูุต ูุฅูุฑูููุง. | Because when you think about the importance, some of the issues that we were talking about last night -- this last session we had about Africa and his hypothetical 50 billion dollars destined for Africa. |
ููููู ูุฐูุ ููุณ ูููููุงุ ูุตู ุชูู ุงูู
ุดุงูู ุงูุชู ุฐูููุฑุช ูู ุงููููุฉ ุงูู
ุงุถูุฉ -- ู
ุณุงุกูุฉ ุงูุญููู
ุฉุ ูุงููุณุงุฏุ ูููู ูู
ูู ู
ุญุงุฑุจุฉ ุงููุณุงุฏุ ุฅุนุทุงุก ุตูุช ูู
ู ูุง ุตูุช ููุ ููููุฑุงุก -- ูุฐุง ูู ุงูุณุจุจ ุงูุฐู ุฃูุญู
ูุณุงุฆู ุงูุฅุนูุงู
ุงูู
ุณุชููุฉ ูู ุฏููุง ุงูุฃุนู
ุงู. | All of those, not all, half of those problems mentioned last night -- government accountability, corruption, how do you fight corruption, giving voice to unheard, to poor -- it's why independent media is in business. |
ูููุฐุง ุงูุณุจุจ ุชู
ุฅุฎุชุฑุงุนูุง. | And it's why it was invented. |
ูุฐูู ู
ู ูุฐุง ุงูู
ูุธูุฑุ ู
ุง ูุนููุงู ูู ููุท ุญูุง ูุทุฑุฉ ูุงุญุฏุฉ ูู ุจุญุฑ ุงูุฅุญุชูุงุฌุงุช ุงูุฐู ุชู
ูููุง ู
ู ุงูุชุนุฑู ุนููู. | So from that perspective, what we did is just really one drop in the sea of that need that we can identify. |
ูุฐู ู
ุฌุฑูุฏ ูุตุฉ ูุงุญุฏุฉ ูุฏููุง. | Now ours is just one story. |
ูุฃูุง ู
ุชุฃูุฏ ู
ู ุฃู ูู ูุฐู ุงููุงุนุฉ ููุงูุ ู
ุง ููุงุฑุจุ 15 ูุตูุฉ ุฃุฎุฑู ุฑุงุฆุนุฉ ู
ู ุงูู
ูุธู
ุงุช ุบูุฑ ุงูุฑูุจุญูุฉ ุงูุชู ุชููู
ุจุนู
ู ู
ุฐูู. | I'm sure that in this room there are, like, 15 other wonderful stories of nonprofits doing spectacular work. |
ูููุง ุชูู
ู ุงูู
ุดููุฉุ ูุณุฃุดุฑุญ ููู
ุ ุจูุฏุฑ ู
ุง ุฃุณุชุทูุน ู
ุง ูู ุงูู
ุดููุฉ. | Here is where the problem is, and I'll explain to you as well as I can what the problem is. |
ููู ุชุฏุนู ุฌู
ุน ุงูุชุจุฑูุนุงุช. | And it's called fundraising. |
ุชุตููุฑ ุฃูู ูุฐุง ุงูุซูููุซู ู
ู ูุฐู ุงููุงุนุฉ ู
ููุก ุจุฃูุงุณ ูู
ุซููู ู
ุฎุชูู ุงูู
ุคุณุณุงุช. | Imagine that this third of this room is filled with people who represent different foundations. |
ุชุฎูู ุฃูู ุงูุซููุซูู ูุฏูุฑุงู ุชูู ุงูู
ูุธู
ุงุช ุงูู
ู
ุชุงุฒุฉุ ุชููู
ุจุนู
ู ู
ูู
ุฌุฏุง. | Imagine two thirds over here running excellent organizations, doing very important work. |
ุงูุขู ุชุฎูู ุฃู ูู ุดุฎุต ู
ู ูุฐู ุงูููุงุญูุฉ ุฃุตู
ุ ูุง ูุณู
ุนุ ููู
ุจุฅุทูุงุก ุงูู
ุตุงุจูุญ. | Now imagine that every second person over here is deaf, does not hear, and switch the lights off. |
ูุฐู ูู ุฏุฑุฌุฉ ุตุนูุจุฉ ุฌู
ุน ุฃุดุฎุงุต ู
ู ูุฐุง ุงูุฌุงูุจ ู
ู ุงูุบุฑูุฉ ู
ุน ุฃุดุฎุงุต ู
ู ุฐูู ุงูุฌุงูุจ ู
ู ุงูุบุฑูุฉ. | Now that is how difficult it is to match people from this side of the room with people of that side of the room. |
ููุฐูู ูููุง ูุนุชูุฏ ุฃูู ููุงู ุญุงุฌุฉ ุฅูู ููุฑุฉ ูุจูุฑุฉ ูุฅุตูุงุญุ ูุฅุนุงุฏุฉ ุงููุธุฑ ูููุง ูู ุฌู
ุน ุงูุชุจุฑุนุงุช. | So we thought that some kind of a big idea is needed to reform, to totally rethink fundraising. |
ุจุฏูุง ู
ู ุงูุญุตูู ุนูู ู
ุดูุฏ ุฃูุงุณ ูุฑูุถูู ูู ูุฐุง ุงูุธูุงู
ุ ู
ุญุงูููู ุงูุนุซูุฑ ุนูู ุชุทุงุจู ุจูููู
ุ ู
ู ุงูุฐู ุณูููู ุนูู ุงุณุชุนุฏุงุฏุ ู
ู ุงูุฐู ูุฏูู ููุณ ุงูุฃูุฏุงู | You know, instead of people running in this dark, trying to find their own match, who will be willing, who has the same goals. |
ุจุฏูุง ู
ู ูู ุฐูู ููุง ูุธู ุฃูู ููุงู -- ุดูุฆุง ุฌุฏูุฏุง ูุญุชุงุฌ ููุฅุฎุชุฑุงุน. | Instead of all of that we thought there is -- something new needs to be invented. |
ูุชูุตููุง ู
ุน ููุฑุฉ ุฅุตุฏุงุฑ ุงูุณูุฏุงุช ูุฐูุ ุณูุฏุงุช ุตุญุงูุฉ ุญุฑุฉ. | And we came up with this idea of issuing bonds, press freedom bonds. |
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