Sam Jacobs

You spend a certain amount of money to acquire a customer.

They pay you back over a certain amount of time.

It costs you a certain amount of money to service them.

and then they stick around for a certain period of time.

And all of those fundamental assumptions are the reason why, in any given period, we can spend more than... Okay.

Oh, that's good.

We're fixing it on the fly.

There we go.

Oh, it's beautiful.

All right, there we go.

There we go.

Okay, so the point is, does your team understand how all of this works?

Do you understand how to calculate customer acquisition costs?

Many people say that they do, but then they don't do the calculations properly or they leave critical things out.

Do you understand how to calculate lifetime value?

It's gross margin contribution per customer.

It's not revenue per customer.

Do you have an accurate assessment of lifetime value?

Again, the fundamental premise of profitable, efficient growth is that you understand what efficiency is.

Can we do the same thing that you just did for the subsequent slides before I click over to him?