They really haven't spent much on Capex, because most of it...

They really haven't spent much on Capex, because most of it belongs to NBN and Telstra..
Fibre and Spectrum being their biggest capex. Fibre should probably pay for itself after 2-2.5 years..
and if rumours are true David Teoh has invested in a new Card Table for his personal office desk..
These guys spend nothing if they dont have to, and sweat assets...
Mobiles could be their Tesla Model 3 Lots of promise, but a risk of going into production hell.