ctrl+f "moat" Hmm. So why can they have a 3x markup? What is the moat? Who will overpay by $1,000? 1. People who are required to use a product with very spec

ctrl+f "moat" Hmm. So why can they have a 3x markup? What is the moat? Who will overpay by $1,000? 1. People who are required to use a product with very specific certifications. 2. People who want to use a product with a desirable backstory. In the first instance the US military requires testing and certifications that are costly to achieve, creating a moat for military suppliers. In the second instance, some podcast listeners are willing to significantly overpay for generic supplements due to the backstory and their trust in that podcaster. I am curious what the market breakdown is for this device - how many do they sell for case 1? how many do they sell for case 2? Also, if they don't sell very many, then their manufacturing capital costs, design and supply chain overheads per phone will be very high.