Mr. Beat Up

And obviously it's a growing business and it hasn't been profitable for that long, but I guess, you know, in the fullness of time, will it be able to make above market profits and we'll be able to defend that from competitors.

I think that's fair.

I own it and I would agree that there's no switching costs.

Well, there's low to no switching costs for this business.

My counterpoint would be Amazon also has low to no switching costs.

It's like, can they build this infrastructure in a way that no one else can?

So I think for the checklist, it has to be a no.

I think so.

Yeah.

Step number three, let's just, let's just roll this out.

Can it reinvest profits productively?

When it makes profits.

To be fair, that's not the only thing they're investing in.

They're making huge investments in compounding facilities and they're really trying to move from a retailer to a manufacturer of a lot of drugs.

There's a lot of technology that they're investing in.

They are really trying to streamline a lot of the inefficiencies in the healthcare system.

They've also looked at things like lab testing and diagnostics and obviously that's a small step into the whole personalization of healthcare.

how you can um do a lot more bespoke stuff and so you could see a world where like if they're the front door for people's health care and they have like lab testing and diagnostics in one side clinicians and stuff to prescribe they also then have manufacturing facilities to develop the drugs like there is a world where they can become a lot of people's sort of like all-encompassing health provider you know like the health super app that old mate was talking about

Yeah.

Like any of these companies that have like good scale economies now.