Quibi: $2B to $2M 📉

New reports indicate that just ~8% of Quibi's free trial users are converting to the service. My estimate is that Quibi has ~144K paying subscribers, generating about $12M in annual revenue. This is wayyyy below the company's targets, and is not a good sign for the future. Quibi is running out of money and will need to show massive user growth to convince investors to keep pouring in capital. Raising ~$2B before ever launching a consumer product (and finding product market fit) is looking more and more like a huge mistake. I think Quibi will be out of business, or sold at fire sale prices soon. What are your thoughts?