EFTA02338495.pdf

From: Joichi Ito < Sent: Tuesday, January 13, 2015 8:59 PM To: Jeffrey Epstein Subject: Re: update Thanks. Will let you now how it goes. Joi > On Jan 13, 2015, at 3:49 PM, jeffrey E. <jeevacation@gmail.com> wrote: > ok > On Tue, Jan 13, 2015 at 4:39 PM, Joichi Ito <-> wrote: > This is the electronic nose project. Dealing with the conflict of =nterest issues at MIT, but I'll get an anti-dilution per below. = think it's a very good deal. Assume you're still OK =ith doing this? > Joi » Begin forwarded message: » From: David » Date: January 13, 2015 at 3:32:38 PM EST » Subject: update » To: Joichi Ito » Joi, » I think you know the price on this round was established long before =e had lab results. So, the last money in the round is basically a gift =o whoever claims it. I'm pretty sure I can find a way to provide a =eighted antidil, even if it means retroactively giving it to everyone =n the round. » I realized I should have blind copied you on my letter to Ken =oldsmith yesterday. Here's what I wrote: » Hello Ken, » Thank you for your time on the phone last week. I'm operating under =he assumption that, if possible, MIT would like to help one of its =ntrepreneurial offspring succeed... but (understandably) not at the =ost of its integrity or policies. I'm writing because I have new =nformation and a proposal I beleive satisfies all these criteria. » Our discussion was about actual conflict of interest and of the =ppearance. I will address each separately: » Actual COI EFTA_R1_01300796 EFTA02338495 » I double-checked and confirmed that due to the nature of the company =here is no physical way Joi Ito could use his position to benefit the =ompany (and there by himself), even if he wanted to. » I say this for two reasons, both of which I believe is new =nformation: 1) Our agreement with MIT establishes a clear wall between =ctivities at MIT and OH2. MIT provided the theoretical groundwork for =ur technology, which is complete and all the patents are filed. As =uch, there is no more work conducted on the topic at MIT, by Shuguang =r anyone else. Furthermore, our agreement states that even if there =ere any additional theoretical learnings, they would belong to MIT. » And, 2) creating new compositions of matter based on the licensed =atents (the purpose of the company) requires equipment MIT does not =wn, and the work of the company must be performed off-campus, by =efinition. » That is to say that if Joi Ito were to wake up in the morning with =he sole intent of affecting something at OH2, there simply would be no =ath available for him to do so. » That leaves the issue we discussed, which was the appearance of » =onflict » Appearance of COI » Our proposal to avoid the appearance of conflict is that we would =ommit to include a disclosure statement in every document that mentions =yara Investments IV LLC (of which Joi Ito would be a minority =hareholder). » We propose the following text: » "DISCLOSURE: Joi Ito is a minority shareholder in Kyara Investments =V LLC a fact he disclosed to MIT prior to his investment and was =ubsequently permitted under the mutual understanding and condition that =11 related activities within MIT were completely and permanently ceased =rior to his investment, thereby eliminating the possibility of a =onflict of interest. » It is my hope that in the absence of the possibility of actual =onflict (as stated above) and with our commitment to include a =isclosure statement in all public and private financial documents.... =hat MIT can feel comfortable the COI risk has been well-addressed and =an permit this investment to go forward. » Thank you for your consideration and assistance. » Kind regards, » David Levy, Ph.D. '92, SM '87, 58'87 > please note > The information contained in this communication is confidential, may > be attorney-client privileged, may constitute inside information, and > is intended only for the use of the addressee. It is the property of > JEE Unauthorized use, disclosure or copying of this communication or > any part thereof is strictly prohibited and may be unlawful. If you > have received this communication in error, please notify us 2 EFTA_R1_01300797 EFTA02338496 > immediately by return e-mail or by e-mail to jeevacation@gmail.com, > and destroy this communication and all copies thereof, including all > attachments. copyright -all rights reserved <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/Propertylist-1.0.dtd"> <plist version=.0"> <dict> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1421182716</integer> <key>flags</key> <integer>8590195713</integer> <key>gmail-label-ids</key> <array> <integer>18</integer> <integer>5</integer> </array> <key>remote-id</key> <string>472987</string> </dict> </plist> 3 EFTA_R1_01300798 EFTA02338497