Ann: Appen 2022 Full Year Results, page-44

I am so sick of seeing slides from tech companies with some absurdly big TAM number. That may have worked when the cash rate was 10bps but today you need to actually deliver earnings growth, or at least be profitable. Why do they need to expand their TAM? They are doing a $776m run rate in (according to them) what will be a $15 billion in 2026. How about instead of entering a bunch of new markets, use their existing scale to target capturing 30% of the annotation market by 2026. That's 480% revenue growth in 3 years right there without needing to overcomplicate things.