I guess they didn't have our language, they didn't-- they were intuitively halfway there but they couldn't express it, so I think the industry didn't get really started.

我猜当时并没有专业的词汇,他们未能...,他们有想法,却无法表述,所以我认为那只是保险业的雏形

耶鲁公开课 - 金融市场课程节选