[3eb7988a1663]

It is also unclear to me how much real debt they carry. They have famously been signing many deals: RAM, datacenters, maybe nuclear power plants -I no longer know what is a joke or not. They must be carrying hundreds of billions in paper debt obligations, which is tough to payback at $20B revenue.

[sethops1]

I'm giddy about reading their S1 in the near future. We're about to have another "We What the Fuck" moment.