Patrick Boyle

Yeah.

And somewhat reminiscent of the WeWork IPO document where there were lots of photos in there.

Other things that were interesting, the company has lost $37 billion since inception.

There's lots of stuff.

There's some new business stuff in there.

There's talk about point-to-point travel, where people will be able to travel from place to place on rockets rather than airplanes.

There's talk of, I believe I saw in-orbit manufacturing, or at least manufacturing on the moon, but I've noted down in-orbit.

I'm not sure if that's correct.

asteroid mining is another business that they expect to make money from as well.

Yeah, because it's the cost of the rockets.

You know, there's huge R&D to build the rockets.

And then the depreciation, you know, they put all those Starlink satellites up there.

They last about five years and then they fall out of the sky.

And so that is your depreciation.

They have to constantly replace them.

So it's not...

EBITDA is not an interesting number for a company like this.

You want to look at basically, is it profitable or is it on the path to profitability?

It doesn't seem to be.

There's other stuff in there as well.