I&#x27;ve always been confused about this. REI has 12 million members, and annual revenue of $2.2B. If someone wanted to buy REI&#x27;s business, who would they buy it from? A retailer like Target has $70B annual revenue and a market cap of $40B. So that would suggest that REI could be worth something like $1B.  Would each of the 12M members get a check for $83?