Yes. The other thing is that if Sats take off in a small retail context then it ties the value of Sats to agriculture, to production, to the Panama Canal, to the cost of reprinting a menu in glossy A4—to a zillion things that underpin small retail globally, and it will inevitably plateau, given that we aren't going to be adding all that much new fertile land or all that many new Panama canals.

Another way to say it is that if your money can all of a sudden buy twice as many omelettes but the number of chickens in the world hasn't changed then something's not right.

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