Searchlight Capital's Zinterhofer Says Volatility Has Created Opportunities

The video discusses long-term investment strategies, highlighting how market volatility can create opportunities. It details a partnership with Lion Tree, focusing on high-growth TMT companies and innovative financial instruments to minimize equity dilution. The impact of tax laws on business operations is also analyzed, noting that lower corporate tax rates offset interest deductibility issues, leading to increased valuations.

Explain the concept of the non-cash pay instrument mentioned in the text and its intended benefits.

How do tax laws impact business valuations according to the discussion in the text?