[yazaddaruvala]

> That capital structure is more like an airline than Google. Not something Wall St rewards.

This is the part we are disconnected on. It is the hardest part to guess about.

If the accounting works out like an airline, I agree with you that costs will remain high and will not change transportation significantly.

However, unlike an airline, the variable cost per ride is low. The way I see it, the economics will work out more like a data center (relative to an airline). Which is something Wall St does reward.