What did Naval Ravikant say about Republic?

Per the buyer dispatches, Naval Ravikant called Republic 'not an AngelList company — that's a Kendrick company.' The dispatch frames this as distinguishing Republic as Nguyen's venture while AngelList still held a stake [dispatches].

The structural facts in the corpus: AngelList supported the spinout and retained equity [Mixergy — 2018-08-29], and was among Republic's seed investors in a $12M token round in July 2018 [TechStartups — 2018-07-02]. Naval, Nguyen, and Paul Menchov appeared together at the Republic launch on a Product Hunt LIVE chat [Product Hunt LIVE — 2016-07-22].

The exact size of AngelList's retained stake is not given a numerical figure anywhere in this corpus — the record states equity was retained but does not quantify it.