Manassa, since you insist on being facetious:Model a simple...

Manassa, since you insist on being facetious:

Model a simple start up costs for each jurisdiction. This includes licensing fees, admin costs, website and app set-up, any bond/security required, employees, contractors, consultants, legals, travel, hotels, "facilitation money".

After you have finished with start-up, model "customer acquisition costs". Discount for competitors.

Even a wild stab in the dark with back of envelope tells you there is not enough to do all three jurisdictions.

Then model a lost of license with Tatts, with Tatts going full gangbuster on advertising. Remember the new CEO? As for network effect, consider Groupon and Myspace and how a network effect works in reverse.

After you have done this, ask yourself, really, how is this different from punting on an explorer striking gold or oil?

Too much work, eh?