Marsico Capital has received questions from investors regarding the current equity market environment vs. the tech bubble investors experienced from 1999-2001. We believe the landscape is quite different today. To that end, we wanted to share some of our perspectives and potential opportunities to capitalize on the current dislocations in the Global equity markets. Business models today are real and real revenue is being generated.In 1999, ecommerce revenue was just US$12 billion. Today it is over US$300 billion. In 2001 and 2008, start-ups and next-generation technology companies had challenges because enterprise buyers were concerned about their solvency...so they stopped buying and went to IBM, Cisco etc. That is NOT happening today. It is less capital intensive to start and run a company in 2016 - thanks to cloud computing - and the scale of mobile has enabled broader distribution of products and services, and therefore faster time to profitability. This is perhaps the biggest difference. For more information please visit our Investor Update at <a href="http://www.channelcapital.com.au/wp-content/uploads/2016/02/Marsico-Investor-Update-Feb-2016.pdf" target="_blank" data-event-type="click" data-event="link_click">(VIEW LINK)</a>