Mark Moss pitched over-collateralized debt yielding around 10% to the Rothschild family in London. They saw appetite for it if packaged right. The strategy mirrors British consols from the 1760s, perpetual bonds that paid 3-5% and never matured.
When we were in London, we were talking to the Rothschilds and they're like, you know, we have this century-long timetable and we don't move really quickly. And preference shares aren't really something that's used a lot in the UK. And I said, forget the preference shares for a minute. Is there an appetite for overcollateralized debt that pays 10%? And they're like, yeah, of course. Right. So of course the appetite is there. You just have to get it packaged up properly in front of the right people.
If you read the history of the Rothschilds, they were very famous for selling consols, which were British government sovereign debt issued from like 1760 on for 100 years and they paid 3 to 5%. They were perpetual. They never came due. Par value £100. So if you think about what that is, that's actually just what Stride is or Strife. What we did is just copied British sovereign debt from 200 years ago.
