General extrapolation of the fact that despite approaching a billion dollars of revenue, they are burning a shitload of cash on an operating cost basis, but then if they do start to approach some level of profit (EBITDA), it will be more than offset by the massive capital requirements of the business (GPUs -> capex -> depreciation and amortization in their income statement, hence EBIT will be negative). it’s obviously some speculation, but I think margins will erode and will be tough to compete with free models provided by open source, so I think the headwinds will only increase