TMT Chart, page-1994

last roll of the dice is nonsense. they could both lay almost everyone off and just wait out this dip, they aren't producing yet so nothing to lose.

That is actually a good point for why more than 12-1 is required, at these levels of demand, TMT holders are taking on some level of risk with the downstream side of the business as that is big cash expenditure that can't be turned on and off.