He said this:
We had tried several different really intricate and speculative designs for 2014, based on the assumption being competitive in a fully saturated market (average return rate getting close to normal business' single digits per year).
This was the quote that I was looking for. I thought that he said actual numbers. Guess I jumped the gun.
You can argue that the market is saturated right now with AM, SPoodles, Bitmain, KnC all selling chips and miners.
It can be debated that AM has economies of scale and relationships with foundries to produce huge quantities of chips.