VOC Chart, page-161

I dont think the retail market as a whole will grow much for basic access, but Vocus only has 7% or so of the market, so we can grow at the expense of our peers, and as the smallest player in the top tier i think its an entirely reasonable expectation.

There might be growth in the retail with value add for Quality of Service. e.g. VPN's are a huge growth area due to government and corporations spying on everyone, its an issue thats never going to going away. VPN's are all terrible experience due to congestion, in some ways its like going back to 56k modem days, sometimes its good, sometimes its not.

I agree there will be increasing demand for traffic, and it was a masterful job on the link to Singapore, and we shouldn't lose sight of the importance of infrastructure as a way to grow, and differentiate ourself from our peers, but it cant be all put on two people. We should be able to develop infrastructure without Spenceley and Grist (other companies do it), nobody should be irreplaceable.

Singapore was a excellent opportunity that was capitalised on, but it was exactly that, an opportunity, its not something that we can expect to do every year, and its rare for such projects to be self-funding, retail is the 'bread and butter' that give us the means to consider things like that.

From my perspective there should be a balance between retail and infrastructure, its like yin and yang.