your target rating of 140? How do you value that?

Okay, so yeah, evaluation on names like this is always challenging, obviously.

I think that it's a little bit more of an art than a science.

I think the right way to do it, unfortunately it's extremely time consuming, but the right way to do it is to take every single line item, every single business opportunity, direct to sell, Starlink, inferences of service, launch everything and model it out 20, 30 years, talk about the margin implications, the capex implications, and put it all in a big DCF.

That's what we do with Tesla.

But like I said, I've covered that stock for 10 years.

In order to get comfortable with that kind of a valuation methodology, you really need to put in the time.

Yeah, I wonder, do you think there are other industries that will be as specifically targeted out loud in addition to sort of the big three telecom?

What are you looking to incrementally learn on that trip? The reason Tesla

and Rivian vertically integrate, I know that you asked about China and I'm starting with Tesla and Rivian again, but it's all related.

Why vertically integrate? Is it just about coming out with cars more quickly, more cheaply, at your own pace? That's a big reason for it, yes.

But the real endgame, certainly if you're thinking about it from the standpoint of Elon Musk, is you use these physical supply chains, own the physical underlying product, embrace asset intensity.

build the electronics up using your own IP, your own engineers.

If necessary, you design and build your own semiconductors, do whatever it takes, then vertically integrate all the way to the end customer.

And again, why are you doing all this? Because you want to deliver service to that end customer while piggybacking on all of this hardware infrastructure that you've built without asking anybody else's permission, right? There's not a bunch of other software and ECUs and printed circuit boards and garbage from a whole Frankenmonster full of suppliers in your car.

How does autonomy on the road or these enhancements you're seeing that Tesla have and Rivian's coming out with and the Chinese automaker change the landscape in the future for the auto industry? I think

So, um, in that setting, Alex, would you like to talk about what you found in your study?

Absolutely.

And so as, as you were mentioning, there's a lot of variety in the different types of, uh, recommended nodal sampling strategies right now.

You mentioned the ACSCOC, you mentioned that the NCCN and CHEST both also recommend a three plus one sampling strategy.

The ISOC actually recommends a three plus three, so three mediastinal stations and three hilar stations.

So there's a lot of variation, and it's unclear what the optimal strategy is, if there is one at all.

And so for our study, we built off of, um, the e- excellent work that Dr. Kranz did by looking at what the nodal upstaging and major morbidity and mortality rates were for different nodal sampling guidelines using the same database, the STS-DTSD.

What, what would be your dream trial on this topic?

How come?

Yeah, I like it a little more now.

I think there's a couple things.

You touched on the de-risked balance sheet.

They just raised some money.

That was something that we had been somewhat concerned about.

Don't always necessarily want to own stocks ahead of dilutive capital raises like that.

How much is that lower price point going to matter for broader consumer adoption? Because the math is just the math that a lot more Americans can afford a $50,000 car than a $100,000 car.