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      "text": "To be clear, we do not dispute that DigitalGlobe can continue to make one-off archive deals, but we think some sort of major industry adoption is unlikely.",
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      "text": "However, based on industry feedback, most analytics work requires 1m resolution – well within capabilities of DigitalGlobe's (cheaper) competitors Airbus (50 cm resolution) and Planet Labs (70 cm resolution) – thus making DigitalGlobe's market leading 30 cm resolution irrelevant",
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      "text": "To be clear, we do not dispute that DigitalGlobe can continue to make one-off archive deals, but we think some sort of major industry adoption is unlikely. In our modelling of Maxar, we primarily rely on market consensus and Maxar's guidance, but we think that the above suggests that there are significant downside risks to its plans",
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      "text": "We struggle to see what value proposition DigitalGlobe offers to the private sector. DigitalGlobe's bull case is based on offering corporate customers different types of analytics, whether for agriculture, economics, or some other usage",
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      "text": "Moreover, for applications like agriculture, resolutions of 50-100m are sufficient – and potential customers can get such resolutions for free from NASA's Landsat and European Space Agency's Sentinel programs – so why pay DigitalGlobe?",
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