"We’ve pitched people who are really confused when they look at what we do. They say, ‘Wait, this isn’t a software business! The margins are too low!’ And we ha

"We’ve pitched people who are really confused when they look at what we do. They say, ‘Wait, this isn’t a software business! The margins are too low!’ And we have to say, ‘Look at the cash flow.’ Many VCs are used to seeing 90 percent margins on a million dollars of revenue. When you’re talking about real world industries, you might be seeing 10 percent margins, but it’s on a billion dollars of revenue."