will it go down?, page-21

Telstra and optus aren’t growing at 100% per year. Telstra and optus don’t have the terragraph tech bolt which has the ability to convert all/most of their off net customers to on net and thereby take margins from 5% to 85% on aforementioned customers. Optus and Telstra don’t have an exclusive agreement with the world best cloud gaming company to distribute that product into Australia. These are a few reasons they should not be valued on the same earnings multiple which is what I think you’re trying to say.

hopefully this helps