Josh Brown

It is the whole company fundamentally.

It's the only, it's the, you know, there are NASA contracts and then there's the Starlink revenue.

But like the cashflow is coming in from Starlink, which is hugely successful and is not even close to full penetration of its own individual TAM.

And really doesn't have any competition to speak of.

It's got companies that would like to compete and might in five years.

Last week, we talked about Amazon Leo and some of the things holding them back, starting with they don't have their own Rockets.

They have to rent space on other rockets to put their satellites in space.

Whereas Elon's already got 8,000 satellites in orbit.

Not a pipe dream.

It exists right now.

So like Starlink is a great business, but he has always done this where he's bootstrapped

the growth of the company from like a starting point of like, here is some revenue coming in that we can then build on.

Like that's not, if you've been long Tesla, then you recognize this playbook.

He's not selling this as though Starlink is the endpoint.

So the mix explains- He's selling this to households in Brazil.

But he said- Like they're not paying what the original buyers were paying.

Like an insatiable amount of- Like three to five a day, five days a week.

Yeah.

And these are the big differences.

Obviously, the quantity of deals was much higher than but lower quality.