Chart - Z1P, page-9248

Of course their major costs are customer acquisition and retention and bad debts, the scalable reductions in tech etc are not a relevant proportion of costs.

In fact marketing costs are increasing and as competitive pricing puts more downward pressure on margins any scalability savibgs will be negated.

Here is a long term chart of the ASX notice the divergence in the indicators and as we approach upper trendline expect a return to lower trendline around 6000 but also note the sloppy overlapping action since the end of the GFC.

For my money if we take out that lower trendline we will not only take out the March 2020 lows but also retest the GFC lows