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I don't return the company's cash to investors because CASH IS AN ENTERPRISE VALUE MULTIPLIER Consider valuation in these scenarios * $200m cash, 24mos of runway w/ 0 revenue. * $50m, 6mos, 0 * $10m, 1mo, 0 It's insurance and optionality. It's the ability to play the long game

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John W. |

@_JohnWhelan

Mar 19, 2020

If only the airlines had the same idea, eh?

Jesse Powell

@jespow

Replying to

@_JohnWhelan

If only. In hindsight, it should have been predictable at the point they gave up on their brands and conceded to be commodity services. It is not a living business anymore but a carcass for the parasites to feed from. Now there are only bones and they demand a new host.

11:52 PM · Mar 19, 2020Twitter Web App

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