We already know they are not profitable in the truest sense w.r.t valuation. FCFF = EBIT(1-t) - Reinvestment. This is how the operating assets are valued via

We already know they are not profitable in the truest sense w.r.t valuation. FCFF = EBIT(1-t) - Reinvestment. This is how the operating assets are valued via intrinsic valuation. Could they generate immense earnings and cash flows net of reinvestment? Sure. DO I believe so? Nope. They've got way too out infront ahead of their skies about where this technology belongs and operates best.