In this episode we sit down with Bill Roark to discuss the Tugboat Institute and their Principle of Private which they define as taking advantage of the ability of closely-held private companies to have a longer-term view, greater confidentiality around strategies, and more operating flexibility than public or exit-oriented businesses. We discuss Bill's work experiences prior to Torch and the impact those had on the formation of Torch, the journey of forming a company that is privately held, and the impact that this decision has had on current and former employees here at Torch.