These models look great. But with all due respect, the worst case for this (and any, especially pre revenue) company is a total loss for common shareholders.

I’m long the stock, but I don’t fool myself into thinking there is a zero chance of losing my entire investment. For example, If we were to have another 08 market rout, and we’re still our looking for money, it would be disastrous. If you were investing during 08, you’ll likely agree.

To be clear, I don’t expect this, and remain long the stock and think there’s great value here. And I do think a “bear case” scenario may be what you guys are talking about. But I would hate for anyone out there to think the worst possible outcome from here is to make 10-20X their money.

Good luck to everyone. I hope all of these discussions on “how bad could it be” are in the rear view soon.