De Moon, who owns what. Whether you have to inject money, whether TLC itself is viable.

After today's meeting, even De Moon started explicitly separating pizza sauce from TLC.

He said, open quote, I see this is a completely separate thing to TLC. Close quote.

And there was agreement that the sauce should be dealt with separately, and the contract continued.

Your father then went considerably further. His argument was essentially,

the profit that might be made by selling sauce through TLC is one thing,

the much bigger opportunity is selling it outside TLC, and therefore you should not

structurally tie the sauce business to TLC at all. The transcript has him describing the

outside opportunity hyperbolically as potentially 100 times more. I wouldn't take the multiplier

literally, obviously, but the strategic point is unmistakable. That is quite a change from where

you seemed to be yesterday. And De Moon's position is interesting. De Moon did not sound as though he

was demanding that pizza sauce belong to TLC. In fact, he says he would prefer the sauce to stay

between you two.

Pronouns are a little difficult because of speaker identification, but the thrust of the