Neal Freiman

In 2006, fell nearly 50% by 2024.

First class mail specifically is down 80% since 1997.

So you have pressure on mail volumes.

No one's sending mail anymore besides you who are sending wedding invitations and receiving wedding invitations.

At the same time, it has to deliver to these rural areas where it's extremely loss-making routes.

So it's going to be in a financial pinch.

If you looked at this business model and said, would you invest?

Someone would look at that and say, absolutely not.

And you can see Postmaster General David Steiner, also cool title, Postmaster General, flipping through the playbook and seeing, okay, we have lost however many tens of billions of dollars over the past few years.

He told Congress this week we're going to run out of cash within a year unless we do something.

So you can see them going through the possible options, and that was probably what they opened the bidding process with Amazon for.

So they want to raise more money.

Right now they have a debt limit of $15 billion.

They say we have to raise more money or this thing is not going to

continue as it has been for more than the United States has existed.

Or we have to raise the cost of first-class stamps.

Right now, they're 78 cents, and he thinks that we have to raise them to almost $1, 90 to 95 cents.

And he said, look, compare this with the rest of the world.

Sending mail in the United States is super cheap.

By comparison, France and the UK charge about $3 and $2.50, respectively, for the same service.