I grant your point that there's an (intangible) limit to how much airlines can devalue their private currencies before people stop using them and/or they get regulated out of existence. It's just that this might come a good bit later than you can maintain a reasonable business providing transparency into their ecosystems.

I don't mean to be argumentative; this is a hard question. I only bring it up because you're probably going to hear it from investors. I assume you have an answer that you don't want to say publicly, which I respect.