Yes, I am aware. The point is, show me another company that is majority owned, in any industry, by three cutthroat competitors, plays a central role in their profitability and competitive advantage, while having a long-term and successful relationship. Particularly as they fight for an ever diminishing scarce resource.

I'm not predicting the end of Republic. Far from it, I hope it continues to be a great place, but something is gonna have to change over there. This situation, IMO, is borderline untenable and it's gonna bubble up and overflow sooner or later.

I'm not predicting something negative, just changes to the ownership structure.