Ronnie,

I would rework your annual subscription numbers for Roon. You have to assume some level of inflation to do it on a Discounted Csh Flow basis to even up the purchase outright versus rent discrepancy. Of course you then have to assume Roon survives, if they don't that precious track level metadata is going to take a shed load of personal work that you need to price in.

Sooloos, Roon, G series (with LPS upgrade), 800 series (with LPS upgrade), HD621, AC200, Prime and PS, DSPs old and new.

Purdeys, Moke, Leica, 'Blad. Only the best.