I agree the gravy train of the ultra-expensive records is going to stall at some point, perhaps pretty soon. My personal suspicion is that a significant portion of this market is sustained by flippers (they help the labels clear out all the stock quickly, this adds to the scarcity and FOMO, which makes people more likely to pay crazy after market prices, leading to higher demand for these records at the (still expensive) retail prices. I suspect the bottom will fall out of the flipper market first, which could be the first sign of overall demand dropping for these types of releases. We will see. It's hard to tell exactly how that will end up affecting a company like MoFi, but your point about how they are "positioned" is interesting. I wonder if the trend of Concord and Universal doing their own audiophile releases (sometimes involving Chad and AP in a curation/oversight role) means it's going to get harder and harder for MoFi to get licenses for "regular" releases. It's probably a lot easier to get licenses for the ultra-expensive records, but if that ends up being all or the vast majority of what MoFi is able to release, that could be a problem indeed. Again, we will see.