Trent Swanson

And it's interesting because in the past two weeks, literally the entire mechanism, so the destination and vision didn't change, but the mechanism to earn the best points changed because a credit card issuer created a new partnership with Japan Airlines.

So Capital One introduced a brand new partnership.

partnership and introduced a 30% bonus where you transfer a point and get 30% extra.

So they created this big spin up.

And so the best way to do this now is if you have Capital One miles, you get 30% more, more than you would

Otherwise, but now the other challenge is this is as you're looking at this redemption side, the biggest mystery that most folks miss misunderstand or miss or or dismiss is inventory is tightly controlled.

So if you go up.

delta.com or any airline.com buy the ticket is your credit card the inventory is pretty much infinite there's 200 seats on the plane you can buy any of those 200 seats award inventory is tightly controlled between one zero one and nine seats are made available so that the trick is what's the propensity and tendency how many tickets are made available what's the cadence of release

When those are taken, are they replenished?

When are they replenished?

So we get back to your question, why?

What does this wait to the last minute?

Because the last minute is a huge award in mature replenishment schemes.

So 72 hours out or less.

the seats that are not going to be sold with cash are flipped over to this rewards bucket of inventory.

And that's what you can really redeem points at the very last minute.

So one of the tricks is a wait till last minute to get the best inventory, which is contra the most of our thinking, right?

We had a like 12-day window.

So we locked that window.

It's one of the four questions, right?