Given that operating expenses have exceeded revenue growth in 2022, what is your targeted return on these investments? You have cited that some are shorter return, some are longer, but what exactly is your internal rate of return target for these investments?

March 23, 2023

Overall, we seek to earn cash on cash returns well in excess of our cost of capital. While our base hurdle rates are in the mid-teens, we expect higher long-term returns for many of the investments we have made.

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