Profitable.

The company's profitability improved.

So this is trailing 12 months.

Because to some degree, rental is kind of the earnings on a home.

So a plus b have to be equal to 50.

She benefited from the sound investment.

It looks like our profit is jumping all over the place.

First... ...let's soundly date.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

So let's look at them over the course of one year.

So notice.

Invest financial assistance, but also management assistance.

Maybe Abby made 50 and Ben earned 0.

And we can eyeball it right here.

Because when someone says earnings, are those the earnings last year?

The reason why you are willing to pay a higher Price to

And what's left over for the equity?

So let me switch colors just to ease the monotony.

And they were male and female 18 30 and they were casual fans.

When? I said it's time to monetise the site.

Sometimes we're profitable. Sometimes we're not.

A sound mind dwells in a sound body.

And we add back the interest, at least in this example, we get to an operating profit number.

The earnings I just said, this is actually what happened to the company.

The Great Recession ended when American GDP resumed its kind of slow, steady march upward, and some other economic indicators also started to rebound, and they got kind of healthy kind of quickly.

Everything on this line would be a valid combination of

So now we add an interesting line.

You healthy ones! What does your health mean?

When was that word ever used?

Abby earned 10 more than Ben.

And that's because they have the same exact asset.

Let's compare EBlT to operating profit.

And why don't you like them as much?

So the price would be 100.

Another type of revenue model is licensing.

It's time to monetise the thing.

An isolated episode of transient global amnesia.

So that's a little bit of a taste of why someone might realistically, in this case, pay a higher Price to Earnings for safety.

And how they were going to create demand was through search ads, social media, stadium promotions.

Normally means lovelydovey couple.) That's entirely not healthy. Rather, unhealthy.

Are you with me?

And this is, I think, a perfect example of what Robert Wright was talking about in those non zero sum things.

And the first one is that this whole idea about revenue stream, Steve, I get it.

What does that tell us?

At the end of the month we count your clicks