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That 2.5B is sunk costs. They should be pricing based on operating costs and the market, mostly ignoring sunk costs.

Sure, my point is that nothing about Blue Origin implies a lean, cost conscious way of operating or that New Glenn will be cheap to build and fly.

The money has to come from somewhere.

Either it's from Bezos, or it's from launches with a price that won't make it easy to win many customers in the very small market of large payloads.

I guess the optimistic take is that Bezos believes the addressable launch market will be huge enough to amortize multi-billion upfront costs. It's definitely a hail mary.

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