a few miles inland from the pacific is the 1,800 acre ranch steyer and his wife kathryn taylor bought02. only an hour outside of san francisco, it's a world away. buying this ranch, was it your idea or your wife's idea? >> i think you can only blame my wife for that one. originally we bought it because the land had been so misused, you could dump stuff here if you paid them a fee. there had been a d.e.a. raid. they had people -- >> why? >> i think they were growing dope. >> oh. running this huge ranch, how is it different than running a hedge fund, a $20 billion hedge fund? >> i'll tell you how it's the same and how it's incredibly different. it's the same in the sense that you think this looks like an asset, but it's actually dramatically changed by the people who run it. and that's exactly like every organization i've been in, which is, having great people, particularly at the top, is unbelievably significant and powerful. and that's where the comparison ends. >> how much have you had to put into this? >> i try never to ask that question. because, you know, we've done -- we've rebui