Sure, 1. Here is a link (https://docsend.com/view/gtxd9jwdgs3izb8m) to the explainer for the bridge to Demo loan. 2. All companies presenting on Demo Day are automatically qualified. Later stage companies are underwritten on a case-by-case basis by the 8vdX team. 3. Yes, we act as underwriters and originate companies that we strongly believe will be able to raise their Series A rounds. 4. Investors invest at a portfolio level for each batch therefore there is an expected failure rate built in to the return assumptions