EFTA01951366.pdf

To: Jeffrey Epstein[jeevacation©gmail.corn] From: Steven Sinofsky Sent: Thur 10/31/2013 2:46:30 PM Subject: Another example So this site http://evidence.com/ is from Taser (the stun gun people). They have a second business which is selling wearable and mountable cameras for police that sells a lot of units. But the profit and stickiness of their product comes from the subscription to the above web site. In old parlance it is razors and razor blades, except the blades are software subscriptions. CEO was on CNBC trying to explain why they have a high margin taser business but the margins on camera hardware are low. (a) cameras are a commodity and (b) the recurring revenue from evidence.com is greater. Sent from Surface EFTA_R1_00418383 EFTA01951366