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“Ok, maybe it’s better if you guys raise the capital instead.” $NBIS https://t.co/A2BkBfhA5H (2) When the ultimate capital-intensive business ($NBIS currently requires over $4 in capital to generate $1 in revenue) introduces an “asset-light” initiative, despite “infinite demand”, you should ask yourself what that tells you about their original business model. (3) This tells you all you need to know about what $NBIS thinks the ROIC’s are on the physical assets. https://t.co/LeH9HrOpKH (4) And just so we’re clear about this new SaaS model, $NBIS has not broken-out software revenues in their financials, and specifically dodged a question about software ARR during their 4Q conference call. https://t.co/2OZPNt2iWa