while I also fall in the too risky camp, I think you’re putting...

while I also fall in the too risky camp, I think you’re putting it too strong. To invest in RFX now, you’re doing it because although it’s very risky, if it does succeed, the upside is big. So you’ve got to expect them to fail many times before they succeed. Their strategy of going after massive orders before they’ve established a sustaining flow of small orders is always going to look like multiple years of failure followed by sudden break out. The big question for this CR is whether you believe they’ve made enough progress, to think they’re about to crack it. TBH, I’d like the the tech to get rolled out in large scale to help combat climate change - a successful CR followed by a successful roll out is one path to that (though as I said before, I think debt now is probably a better one). Still, I don’t think people are foolish if they’re willing to take a big risk for a big gain - just less risk averse than me.