WEBVTT #Elemental Media Engine(TM) 2.17.1.0 00:00:00.900 --> 00:00:01.001 AND 00:00:01.001 --> 00:00:01.101 AND THERE 00:00:01.101 --> 00:00:01.167 AND THERE COULD 00:00:01.167 --> 00:00:01.534 AND THERE COULD BE 00:00:01.534 --> 00:00:01.634 AND THERE COULD BE MORE 00:00:01.634 --> 00:00:01.801 AND THERE COULD BE MORE CUTS 00:00:01.801 --> 00:00:02.369 AND THERE COULD BE MORE CUTS ON 00:00:02.369 --> 00:00:03.336 AND THERE COULD BE MORE CUTS ON THE 00:00:03.336 --> 00:00:03.370 AND THERE COULD BE MORE CUTS ON THE WAY. 00:00:03.370 --> 00:00:03.570 THE WAY. 00:00:03.570 --> 00:00:03.937 THE WAY. LET'S 00:00:03.937 --> 00:00:04.170 THE WAY. LET'S BRING 00:00:04.170 --> 00:00:04.304 THE WAY. LET'S BRING IN 00:00:04.304 --> 00:00:04.704 THE WAY. LET'S BRING IN BRENT 00:00:04.704 --> 00:00:05.505 THE WAY. LET'S BRING IN BRENT PHIL 00:00:05.505 --> 00:00:05.538 THE WAY. LET'S BRING IN BRENT PHIL FROM 00:00:05.538 --> 00:00:05.772 LET'S BRING IN BRENT PHIL FROM 00:00:05.772 --> 00:00:05.805 LET'S BRING IN BRENT PHIL FROM JEFFREY'S. 00:00:05.805 --> 00:00:05.939 JEFFREY'S. 00:00:05.939 --> 00:00:06.006 JEFFREY'S. GREAT 00:00:06.006 --> 00:00:06.306 JEFFREY'S. GREAT TO 00:00:06.306 --> 00:00:07.207 JEFFREY'S. GREAT TO SEE 00:00:07.207 --> 00:00:07.574 JEFFREY'S. GREAT TO SEE YOU 00:00:07.574 --> 00:00:07.607 JEFFREY'S. GREAT TO SEE YOU AGAIN 00:00:07.607 --> 00:00:07.841 GREAT TO SEE YOU AGAIN 00:00:07.841 --> 00:00:07.941 GREAT TO SEE YOU AGAIN PERVERSELY, 00:00:07.941 --> 00:00:08.008 GREAT TO SEE YOU AGAIN PERVERSELY, DOES 00:00:08.008 --> 00:00:08.208 GREAT TO SEE YOU AGAIN PERVERSELY, DOES THIS 00:00:08.208 --> 00:00:08.708 GREAT TO SEE YOU AGAIN PERVERSELY, DOES THIS MAKE 00:00:08.708 --> 00:00:08.742 GREAT TO SEE YOU AGAIN PERVERSELY, DOES THIS MAKE YOU 00:00:08.742 --> 00:00:08.975 PERVERSELY, DOES THIS MAKE YOU 00:00:08.975 --> 00:00:09.275 PERVERSELY, DOES THIS MAKE YOU POSITIVE 00:00:09.275 --> 00:00:09.409 PERVERSELY, DOES THIS MAKE YOU POSITIVE ON 00:00:09.409 --> 00:00:11.211 PERVERSELY, DOES THIS MAKE YOU POSITIVE ON ANY 00:00:11.211 --> 00:00:11.311 PERVERSELY, DOES THIS MAKE YOU POSITIVE ON ANY OF 00:00:11.311 --> 00:00:11.411 PERVERSELY, DOES THIS MAKE YOU POSITIVE ON ANY OF THESE 00:00:11.411 --> 00:00:11.478 PERVERSELY, DOES THIS MAKE YOU POSITIVE ON ANY OF THESE STOCKS 00:00:11.478 --> 00:00:11.644 POSITIVE ON ANY OF THESE STOCKS 00:00:11.644 --> 00:00:11.711 POSITIVE ON ANY OF THESE STOCKS BECAUSE 00:00:11.711 --> 00:00:11.811 POSITIVE ON ANY OF THESE STOCKS BECAUSE IT 00:00:11.811 --> 00:00:12.045 POSITIVE ON ANY OF THESE STOCKS BECAUSE IT MEANS 00:00:12.045 --> 00:00:12.278 POSITIVE ON ANY OF THESE STOCKS BECAUSE IT MEANS THEY'RE 00:00:12.278 --> 00:00:12.312 POSITIVE ON ANY OF THESE STOCKS BECAUSE IT MEANS THEY'RE CUTTING 00:00:12.312 --> 00:00:13.546 BECAUSE IT MEANS THEY'RE CUTTING 00:00:13.546 --> 00:00:13.713 BECAUSE IT MEANS THEY'RE CUTTING BACK 00:00:13.713 --> 00:00:14.414 BECAUSE IT MEANS THEY'RE CUTTING BACK EXPENSES 00:00:14.414 --> 00:00:14.581 BECAUSE IT MEANS THEY'RE CUTTING BACK EXPENSES QUITE 00:00:14.581 --> 00:00:14.848 BACK EXPENSES QUITE 00:00:14.848 --> 00:00:14.881 BACK EXPENSES QUITE DRAMATICALLY 00:00:14.881 --> 00:00:14.981 DRAMATICALLY 00:00:14.981 --> 00:00:15.015 DRAMATICALLY >> 00:00:15.015 --> 00:00:15.115 DRAMATICALLY >> I 00:00:15.115 --> 00:00:15.281 DRAMATICALLY >> I THINK 00:00:15.281 --> 00:00:17.350 DRAMATICALLY >> I THINK IT'S 00:00:17.350 --> 00:00:17.450 DRAMATICALLY >> I THINK IT'S THE 00:00:17.450 --> 00:00:17.550 DRAMATICALLY >> I THINK IT'S THE EARLY 00:00:17.550 --> 00:00:17.617 DRAMATICALLY >> I THINK IT'S THE EARLY SIGNS 00:00:17.617 --> 00:00:17.717 >> I THINK IT'S THE EARLY SIGNS 00:00:17.717 --> 00:00:18.018 >> I THINK IT'S THE EARLY SIGNS OF 00:00:18.018 --> 00:00:18.184 >> I THINK IT'S THE EARLY SIGNS OF TIME 00:00:18.184 --> 00:00:19.185 >> I THINK IT'S THE EARLY SIGNS OF TIME TO 00:00:19.185 --> 00:00:19.386 >> I THINK IT'S THE EARLY SIGNS OF TIME TO GET 00:00:19.386 --> 00:00:19.419 >> I THINK IT'S THE EARLY SIGNS OF TIME TO GET POSITIVE. 00:00:19.419 --> 00:00:19.619 OF TIME TO GET POSITIVE. 00:00:19.619 --> 00:00:19.686 OF TIME TO GET POSITIVE. CLEARLY, 00:00:19.686 --> 00:00:20.086 OF TIME TO GET POSITIVE. CLEARLY, IT'S 00:00:20.086 --> 00:00:20.420 OF TIME TO GET POSITIVE. CLEARLY, IT'S BEEN 00:00:20.420 --> 00:00:20.653 OF TIME TO GET POSITIVE. CLEARLY, IT'S BEEN A 00:00:20.653 --> 00:00:20.820 OF TIME TO GET POSITIVE. CLEARLY, IT'S BEEN A REALLY 00:00:20.820 --> 00:00:20.954 CLEARLY, IT'S BEEN A REALLY 00:00:20.954 --> 00:00:21.521 CLEARLY, IT'S BEEN A REALLY TOUGH 00:00:21.521 --> 00:00:21.554 CLEARLY, IT'S BEEN A REALLY TOUGH '22. 00:00:21.554 --> 00:00:22.989 TOUGH '22. 00:00:22.989 --> 00:00:23.089 TOUGH '22. IT'S 00:00:23.089 --> 00:00:23.123 TOUGH '22. IT'S GOING 00:00:23.123 --> 00:00:23.189 TOUGH '22. IT'S GOING TO 00:00:23.189 --> 00:00:23.223 TOUGH '22. IT'S GOING TO BE 00:00:23.223 --> 00:00:23.323 TOUGH '22. IT'S GOING TO BE A 00:00:23.323 --> 00:00:23.857 TOUGH '22. IT'S GOING TO BE A ROUGH 00:00:23.857 --> 00:00:23.890 TOUGH '22. IT'S GOING TO BE A ROUGH FIRST 00:00:23.890 --> 00:00:24.024 IT'S GOING TO BE A ROUGH FIRST 00:00:24.024 --> 00:00:24.057 IT'S GOING TO BE A ROUGH FIRST HALF 00:00:24.057 --> 00:00:24.758 IT'S GOING TO BE A ROUGH FIRST HALF OF 00:00:24.758 --> 00:00:24.791 IT'S GOING TO BE A ROUGH FIRST HALF OF 2023 00:00:24.791 --> 00:00:24.891 HALF OF 2023 00:00:24.891 --> 00:00:24.991 HALF OF 2023 WE 00:00:24.991 --> 00:00:25.091 HALF OF 2023 WE THINK 00:00:25.091 --> 00:00:25.158 HALF OF 2023 WE THINK THERE 00:00:25.158 --> 00:00:25.258 HALF OF 2023 WE THINK THERE ARE 00:00:25.258 --> 00:00:25.859 HALF OF 2023 WE THINK THERE ARE MORE 00:00:25.859 --> 00:00:27.127 HALF OF 2023 WE THINK THERE ARE MORE JOB 00:00:27.127 --> 00:00:27.160 HALF OF 2023 WE THINK THERE ARE MORE JOB CUTS 00:00:27.160 --> 00:00:27.360 WE THINK THERE ARE MORE JOB CUTS 00:00:27.360 --> 00:00:27.394 WE THINK THERE ARE MORE JOB CUTS UNDERWAY 00:00:27.394 --> 00:00:27.527 UNDERWAY 00:00:27.527 --> 00:00:27.794 UNDERWAY WE 00:00:27.794 --> 00:00:27.994 UNDERWAY WE PUBLISHED 00:00:27.994 --> 00:00:28.128 UNDERWAY WE PUBLISHED THIS 00:00:28.128 --> 00:00:28.495 UNDERWAY WE PUBLISHED THIS REPORT 00:00:28.495 --> 00:00:28.661 UNDERWAY WE PUBLISHED THIS REPORT LAST 00:00:28.661 --> 00:00:29.396 WE PUBLISHED THIS REPORT LAST 00:00:29.396 --> 00:00:29.429 WE PUBLISHED THIS REPORT LAST NIGHT. 00:00:29.429 --> 00:00:29.763 NIGHT. 00:00:29.763 --> 00:00:30.363 NIGHT. JUST 00:00:30.363 --> 00:00:30.663 NIGHT. JUST THIS 00:00:30.663 --> 00:00:31.431 NIGHT. JUST THIS MORNING, 00:00:31.431 --> 00:00:31.831 NIGHT. JUST THIS MORNING, BOTH 00:00:31.831 --> 00:00:31.998 NIGHT. JUST THIS MORNING, BOTH SUORA 00:00:31.998 --> 00:00:33.666 JUST THIS MORNING, BOTH SUORA 00:00:33.666 --> 00:00:34.434 JUST THIS MORNING, BOTH SUORA AND 00:00:34.434 --> 00:00:34.601 JUST THIS MORNING, BOTH SUORA AND IES 00:00:34.601 --> 00:00:35.468 JUST THIS MORNING, BOTH SUORA AND IES HAD 00:00:35.468 --> 00:00:35.635 JUST THIS MORNING, BOTH SUORA AND IES HAD OVER 00:00:35.635 --> 00:00:35.769 JUST THIS MORNING, BOTH SUORA AND IES HAD OVER 10% 00:00:35.769 --> 00:00:36.036 JUST THIS MORNING, BOTH SUORA AND IES HAD OVER 10% LAYOFFS 00:00:36.036 --> 00:00:36.202 JUST THIS MORNING, BOTH SUORA AND IES HAD OVER 10% LAYOFFS SO 00:00:36.202 --> 00:00:36.336 AND IES HAD OVER 10% LAYOFFS SO 00:00:36.336 --> 00:00:36.436 AND IES HAD OVER 10% LAYOFFS SO WE'RE 00:00:36.436 --> 00:00:36.503 AND IES HAD OVER 10% LAYOFFS SO WE'RE GOING 00:00:36.503 --> 00:00:36.703 AND IES HAD OVER 10% LAYOFFS SO WE'RE GOING TO 00:00:36.703 --> 00:00:36.970 AND IES HAD OVER 10% LAYOFFS SO WE'RE GOING TO SEE 00:00:36.970 --> 00:00:37.003 AND IES HAD OVER 10% LAYOFFS SO WE'RE GOING TO SEE MORE. 00:00:37.003 --> 00:00:37.137 WE'RE GOING TO SEE MORE. 00:00:37.137 --> 00:00:38.471 WE'RE GOING TO SEE MORE. IT'S 00:00:38.471 --> 00:00:38.872 WE'RE GOING TO SEE MORE. IT'S GOING 00:00:38.872 --> 00:00:39.272 WE'RE GOING TO SEE MORE. IT'S GOING TO 00:00:39.272 --> 00:00:39.839 WE'RE GOING TO SEE MORE. IT'S GOING TO CONTINUE 00:00:39.839 --> 00:00:40.206 WE'RE GOING TO SEE MORE. IT'S GOING TO CONTINUE TO 00:00:40.206 --> 00:00:40.373 WE'RE GOING TO SEE MORE. IT'S GOING TO CONTINUE TO WEAVE 00:00:40.373 --> 00:00:40.540 IT'S GOING TO CONTINUE TO WEAVE 00:00:40.540 --> 00:00:40.607 IT'S GOING TO CONTINUE TO WEAVE THROUGH 00:00:40.607 --> 00:00:41.207 IT'S GOING TO CONTINUE TO WEAVE THROUGH THE 00:00:41.207 --> 00:00:41.508 IT'S GOING TO CONTINUE TO WEAVE THROUGH THE PUBLIC 00:00:41.508 --> 00:00:42.242 IT'S GOING TO CONTINUE TO WEAVE THROUGH THE PUBLIC AND 00:00:42.242 --> 00:00:42.275 IT'S GOING TO CONTINUE TO WEAVE THROUGH THE PUBLIC AND PRIVATE 00:00:42.275 --> 00:00:42.642 THROUGH THE PUBLIC AND PRIVATE 00:00:42.642 --> 00:00:42.675 THROUGH THE PUBLIC AND PRIVATE MARKET 00:00:42.675 --> 00:00:42.876 MARKET 00:00:42.876 --> 00:00:42.942 MARKET PROBABLY 00:00:42.942 --> 00:00:43.009 MARKET PROBABLY MORE 00:00:43.009 --> 00:00:43.410 MARKET PROBABLY MORE SO 00:00:43.410 --> 00:00:43.510 MARKET PROBABLY MORE SO EVEN 00:00:43.510 --> 00:00:43.777 MARKET PROBABLY MORE SO EVEN IN 00:00:43.777 --> 00:00:43.810 MARKET PROBABLY MORE SO EVEN IN THE 00:00:43.810 --> 00:00:43.977 PROBABLY MORE SO EVEN IN THE 00:00:43.977 --> 00:00:44.110 PROBABLY MORE SO EVEN IN THE PRIVATE 00:00:44.110 --> 00:00:44.277 PROBABLY MORE SO EVEN IN THE PRIVATE MARKET 00:00:44.277 --> 00:00:44.377 PROBABLY MORE SO EVEN IN THE PRIVATE MARKET IN 00:00:44.377 --> 00:00:44.577 PROBABLY MORE SO EVEN IN THE PRIVATE MARKET IN THE 00:00:44.577 --> 00:00:44.744 PROBABLY MORE SO EVEN IN THE PRIVATE MARKET IN THE BEGINNING 00:00:44.744 --> 00:00:44.844 PRIVATE MARKET IN THE BEGINNING 00:00:44.844 --> 00:00:45.111 PRIVATE MARKET IN THE BEGINNING OF 00:00:45.111 --> 00:00:45.545 PRIVATE MARKET IN THE BEGINNING OF NEXT 00:00:45.545 --> 00:00:45.578 PRIVATE MARKET IN THE BEGINNING OF NEXT YEAR 00:00:45.578 --> 00:00:45.678 OF NEXT YEAR 00:00:45.678 --> 00:00:45.712 OF NEXT YEAR SO 00:00:45.712 --> 00:00:45.812 OF NEXT YEAR SO I 00:00:45.812 --> 00:00:45.912 OF NEXT YEAR SO I DON'T 00:00:45.912 --> 00:00:45.979 OF NEXT YEAR SO I DON'T THINK 00:00:45.979 --> 00:00:46.613 OF NEXT YEAR SO I DON'T THINK THE 00:00:46.613 --> 00:00:47.147 OF NEXT YEAR SO I DON'T THINK THE PAIN 00:00:47.147 --> 00:00:47.180 OF NEXT YEAR SO I DON'T THINK THE PAIN IS 00:00:47.180 --> 00:00:47.414 SO I DON'T THINK THE PAIN IS 00:00:47.414 --> 00:00:47.447 SO I DON'T THINK THE PAIN IS OVER 00:00:47.447 --> 00:00:47.547 OVER 00:00:47.547 --> 00:00:47.680 OVER BUT 00:00:47.680 --> 00:00:47.847 OVER BUT I 00:00:47.847 --> 00:00:48.081 OVER BUT I DO 00:00:48.081 --> 00:00:48.148 OVER BUT I DO THINK 00:00:48.148 --> 00:00:49.516 OVER BUT I DO THINK THE 00:00:49.516 --> 00:00:49.783 OVER BUT I DO THINK THE GOOD 00:00:49.783 --> 00:00:50.183 OVER BUT I DO THINK THE GOOD NEWS 00:00:50.183 --> 00:00:50.350 OVER BUT I DO THINK THE GOOD NEWS IS 00:00:50.350 --> 00:00:50.650 BUT I DO THINK THE GOOD NEWS IS 00:00:50.650 --> 00:00:51.518 BUT I DO THINK THE GOOD NEWS IS THIS 00:00:51.518 --> 00:00:51.584 BUT I DO THINK THE GOOD NEWS IS THIS COMPANIES 00:00:51.584 --> 00:00:52.052 BUT I DO THINK THE GOOD NEWS IS THIS COMPANIES THAT 00:00:52.052 --> 00:00:52.452 BUT I DO THINK THE GOOD NEWS IS THIS COMPANIES THAT WERE 00:00:52.452 --> 00:00:52.485 BUT I DO THINK THE GOOD NEWS IS THIS COMPANIES THAT WERE RUNNING 00:00:52.485 --> 00:00:52.619 THIS COMPANIES THAT WERE RUNNING 00:00:52.619 --> 00:00:52.719 THIS COMPANIES THAT WERE RUNNING HIGH 00:00:52.719 --> 00:00:53.820 THIS COMPANIES THAT WERE RUNNING HIGH GROWTH 00:00:53.820 --> 00:00:54.154 THIS COMPANIES THAT WERE RUNNING HIGH GROWTH AND 00:00:54.154 --> 00:00:54.354 THIS COMPANIES THAT WERE RUNNING HIGH GROWTH AND NO 00:00:54.354 --> 00:00:56.689 THIS COMPANIES THAT WERE RUNNING HIGH GROWTH AND NO LACK 00:00:56.689 --> 00:00:56.723 THIS COMPANIES THAT WERE RUNNING HIGH GROWTH AND NO LACK OF 00:00:56.723 --> 00:00:57.023 HIGH GROWTH AND NO LACK OF 00:00:57.023 --> 00:00:57.524 HIGH GROWTH AND NO LACK OF PROFITABILITY 00:00:57.524 --> 00:00:58.058 HIGH GROWTH AND NO LACK OF PROFITABILITY ARE 00:00:58.058 --> 00:00:58.224 HIGH GROWTH AND NO LACK OF PROFITABILITY ARE NOW 00:00:58.224 --> 00:00:58.358 HIGH GROWTH AND NO LACK OF PROFITABILITY ARE NOW SWITCHING 00:00:58.358 --> 00:00:58.458 PROFITABILITY ARE NOW SWITCHING 00:00:58.458 --> 00:00:58.725 PROFITABILITY ARE NOW SWITCHING AND 00:00:58.725 --> 00:00:59.893 PROFITABILITY ARE NOW SWITCHING AND YOU'RE 00:00:59.893 --> 00:01:00.160 PROFITABILITY ARE NOW SWITCHING AND YOU'RE SEEING 00:01:00.160 --> 00:01:00.326 PROFITABILITY ARE NOW SWITCHING AND YOU'RE SEEING INVESTORS 00:01:00.326 --> 00:01:00.560 AND YOU'RE SEEING INVESTORS 00:01:00.560 --> 00:01:01.027 AND YOU'RE SEEING INVESTORS APPLAUD 00:01:01.027 --> 00:01:01.061 AND YOU'RE SEEING INVESTORS APPLAUD THAT 00:01:01.061 --> 00:01:01.795 APPLAUD THAT 00:01:01.795 --> 00:01:01.961 APPLAUD THAT YOU 00:01:01.961 --> 00:01:03.596 APPLAUD THAT YOU LOOK 00:01:03.596 --> 00:01:04.330 APPLAUD THAT YOU LOOK AT 00:01:04.330 --> 00:01:04.731 APPLAUD THAT YOU LOOK AT MONGO 00:01:04.731 --> 00:01:04.764 APPLAUD THAT YOU LOOK AT MONGO DB 00:01:04.764 --> 00:01:04.831 YOU LOOK AT MONGO DB 00:01:04.831 --> 00:01:04.931 YOU LOOK AT MONGO DB I 00:01:04.931 --> 00:01:05.031 YOU LOOK AT MONGO DB I THINK 00:01:05.031 --> 00:01:05.165 YOU LOOK AT MONGO DB I THINK WE'RE 00:01:05.165 --> 00:01:05.532 YOU LOOK AT MONGO DB I THINK WE'RE IN 00:01:05.532 --> 00:01:05.899 YOU LOOK AT MONGO DB I THINK WE'RE IN THE 00:01:05.899 --> 00:01:05.932 YOU LOOK AT MONGO DB I THINK WE'RE IN THE EARLY 00:01:05.932 --> 00:01:06.099 I THINK WE'RE IN THE EARLY 00:01:06.099 --> 00:01:06.132 I THINK WE'RE IN THE EARLY STAGES 00:01:06.132 --> 00:01:06.366 I THINK WE'RE IN THE EARLY STAGES OF 00:01:06.366 --> 00:01:06.800 I THINK WE'RE IN THE EARLY STAGES OF THIS, 00:01:06.800 --> 00:01:07.233 I THINK WE'RE IN THE EARLY STAGES OF THIS, BUT 00:01:07.233 --> 00:01:07.600 I THINK WE'RE IN THE EARLY STAGES OF THIS, BUT I 00:01:07.600 --> 00:01:07.767 I THINK WE'RE IN THE EARLY STAGES OF THIS, BUT I STILL 00:01:07.767 --> 00:01:07.901 STAGES OF THIS, BUT I STILL 00:01:07.901 --> 00:01:07.967 STAGES OF THIS, BUT I STILL THINK 00:01:07.967 --> 00:01:08.068 STAGES OF THIS, BUT I STILL THINK WE 00:01:08.068 --> 00:01:09.069 STAGES OF THIS, BUT I STILL THINK WE HAVE 00:01:09.069 --> 00:01:09.269 STAGES OF THIS, BUT I STILL THINK WE HAVE MORE 00:01:09.269 --> 00:01:09.402 STAGES OF THIS, BUT I STILL THINK WE HAVE MORE PAIN 00:01:09.402 --> 00:01:09.903 STAGES OF THIS, BUT I STILL THINK WE HAVE MORE PAIN TO 00:01:09.903 --> 00:01:09.936 STAGES OF THIS, BUT I STILL THINK WE HAVE MORE PAIN TO GO. 00:01:09.936 --> 00:01:10.070 THINK WE HAVE MORE PAIN TO GO. 00:01:10.070 --> 00:01:10.170 THINK WE HAVE MORE PAIN TO GO. FIRST 00:01:10.170 --> 00:01:10.303 THINK WE HAVE MORE PAIN TO GO. FIRST HALF 00:01:10.303 --> 00:01:10.603 THINK WE HAVE MORE PAIN TO GO. FIRST HALF OF 00:01:10.603 --> 00:01:10.703 THINK WE HAVE MORE PAIN TO GO. FIRST HALF OF THE 00:01:10.703 --> 00:01:10.837 THINK WE HAVE MORE PAIN TO GO. FIRST HALF OF THE YEAR 00:01:10.837 --> 00:01:11.104 THINK WE HAVE MORE PAIN TO GO. FIRST HALF OF THE YEAR IS 00:01:11.104 --> 00:01:11.271 THINK WE HAVE MORE PAIN TO GO. FIRST HALF OF THE YEAR IS GOING 00:01:11.271 --> 00:01:11.371 FIRST HALF OF THE YEAR IS GOING 00:01:11.371 --> 00:01:11.438 FIRST HALF OF THE YEAR IS GOING TO 00:01:11.438 --> 00:01:11.604 FIRST HALF OF THE YEAR IS GOING TO BE 00:01:11.604 --> 00:01:12.105 FIRST HALF OF THE YEAR IS GOING TO BE A 00:01:12.105 --> 00:01:12.338 FIRST HALF OF THE YEAR IS GOING TO BE A DIFFICULT 00:01:12.338 --> 00:01:13.206 FIRST HALF OF THE YEAR IS GOING TO BE A DIFFICULT BACKDROP 00:01:13.206 --> 00:01:13.373 FIRST HALF OF THE YEAR IS GOING TO BE A DIFFICULT BACKDROP WITH 00:01:13.373 --> 00:01:13.540 TO BE A DIFFICULT BACKDROP WITH 00:01:13.540 --> 00:01:13.573 TO BE A DIFFICULT BACKDROP WITH DEMAND 00:01:13.573 --> 00:01:13.807 DEMAND 00:01:13.807 --> 00:01:13.873 DEMAND >> 00:01:13.873 --> 00:01:13.940 DEMAND >> HOW 00:01:13.940 --> 00:01:14.107 DEMAND >> HOW MUCH 00:01:14.107 --> 00:01:15.041 DEMAND >> HOW MUCH OF 00:01:15.041 --> 00:01:15.275 DEMAND >> HOW MUCH OF THIS 00:01:15.275 --> 00:01:17.944 DEMAND >> HOW MUCH OF THIS THOUGH 00:01:17.944 --> 00:01:18.111 DEMAND >> HOW MUCH OF THIS THOUGH IS 00:01:18.111 --> 00:01:18.344 >> HOW MUCH OF THIS THOUGH IS 00:01:18.344 --> 00:01:18.478 >> HOW MUCH OF THIS THOUGH IS CORRECTING 00:01:18.478 --> 00:01:18.845 >> HOW MUCH OF THIS THOUGH IS CORRECTING EXCESSES 00:01:18.845 --> 00:01:18.978 >> HOW MUCH OF THIS THOUGH IS CORRECTING EXCESSES OF 00:01:18.978 --> 00:01:19.412 >> HOW MUCH OF THIS THOUGH IS CORRECTING EXCESSES OF THE 00:01:19.412 --> 00:01:19.579 >> HOW MUCH OF THIS THOUGH IS CORRECTING EXCESSES OF THE PAST 00:01:19.579 --> 00:01:20.080 CORRECTING EXCESSES OF THE PAST 00:01:20.080 --> 00:01:21.614 CORRECTING EXCESSES OF THE PAST TWO 00:01:21.614 --> 00:01:21.648 CORRECTING EXCESSES OF THE PAST TWO YEARS? 00:01:21.648 --> 00:01:21.948 TWO YEARS? 00:01:21.948 --> 00:01:22.048 TWO YEARS? HEWLETT-PACKARD 00:01:22.048 --> 00:01:22.315 TWO YEARS? HEWLETT-PACKARD SAID 00:01:22.315 --> 00:01:22.849 TWO YEARS? HEWLETT-PACKARD SAID THEY 00:01:22.849 --> 00:01:23.016 TWO YEARS? HEWLETT-PACKARD SAID THEY HIRED 00:01:23.016 --> 00:01:23.183 HEWLETT-PACKARD SAID THEY HIRED 00:01:23.183 --> 00:01:23.283 HEWLETT-PACKARD SAID THEY HIRED 10,000 00:01:23.283 --> 00:01:23.383 HEWLETT-PACKARD SAID THEY HIRED 10,000 PEOPLE 00:01:23.383 --> 00:01:23.450 HEWLETT-PACKARD SAID THEY HIRED 10,000 PEOPLE OVER 00:01:23.450 --> 00:01:23.616 HEWLETT-PACKARD SAID THEY HIRED 10,000 PEOPLE OVER THE 00:01:23.616 --> 00:01:24.150 HEWLETT-PACKARD SAID THEY HIRED 10,000 PEOPLE OVER THE PREVIOUS 00:01:24.150 --> 00:01:24.284 10,000 PEOPLE OVER THE PREVIOUS 00:01:24.284 --> 00:01:24.384 10,000 PEOPLE OVER THE PREVIOUS YEAR, 00:01:24.384 --> 00:01:24.451 10,000 PEOPLE OVER THE PREVIOUS YEAR, WHICH 00:01:24.451 --> 00:01:24.551 10,000 PEOPLE OVER THE PREVIOUS YEAR, WHICH IS 00:01:24.551 --> 00:01:24.818 10,000 PEOPLE OVER THE PREVIOUS YEAR, WHICH IS LIKE 00:01:24.818 --> 00:01:24.951 10,000 PEOPLE OVER THE PREVIOUS YEAR, WHICH IS LIKE HUNDREDS 00:01:24.951 --> 00:01:25.118 10,000 PEOPLE OVER THE PREVIOUS YEAR, WHICH IS LIKE HUNDREDS OF 00:01:25.118 --> 00:01:25.285 YEAR, WHICH IS LIKE HUNDREDS OF 00:01:25.285 --> 00:01:25.485 YEAR, WHICH IS LIKE HUNDREDS OF PEOPLE 00:01:25.485 --> 00:01:25.885 YEAR, WHICH IS LIKE HUNDREDS OF PEOPLE EVERY 00:01:25.885 --> 00:01:25.919 YEAR, WHICH IS LIKE HUNDREDS OF PEOPLE EVERY DAY 00:01:25.919 --> 00:01:26.386 PEOPLE EVERY DAY 00:01:26.386 --> 00:01:26.553 PEOPLE EVERY DAY DID 00:01:26.553 --> 00:01:28.755 PEOPLE EVERY DAY DID COMPANIES 00:01:28.755 --> 00:01:28.788 PEOPLE EVERY DAY DID COMPANIES OVEREXPAND 00:01:28.788 --> 00:01:29.856 DID COMPANIES OVEREXPAND 00:01:29.856 --> 00:01:30.256 DID COMPANIES OVEREXPAND >> 00:01:30.256 --> 00:01:30.523 DID COMPANIES OVEREXPAND >> 100%, 00:01:30.523 --> 00:01:30.557 DID COMPANIES OVEREXPAND >> 100%, YES 00:01:30.557 --> 00:01:31.357 >> 100%, YES 00:01:31.357 --> 00:01:33.059 >> 100%, YES WE'RE 00:01:33.059 --> 00:01:33.159 >> 100%, YES WE'RE DEALING 00:01:33.159 --> 00:01:34.627 >> 100%, YES WE'RE DEALING WITH 00:01:34.627 --> 00:01:34.661 >> 100%, YES WE'RE DEALING WITH THE 00:01:34.661 --> 00:01:35.462 WE'RE DEALING WITH THE 00:01:35.462 --> 00:01:35.728 WE'RE DEALING WITH THE TECH 00:01:35.728 --> 00:01:35.762 WE'RE DEALING WITH THE TECH ACCESS. 00:01:35.762 --> 00:01:36.529 TECH ACCESS. 00:01:36.529 --> 00:01:37.063 TECH ACCESS. THE 00:01:37.063 --> 00:01:37.363 TECH ACCESS. THE TECH 00:01:37.363 --> 00:01:37.497 TECH ACCESS. THE TECH INDUSTRY 00:01:37.497 --> 00:01:37.664 TECH ACCESS. THE TECH INDUSTRY IS 00:01:37.664 --> 00:01:37.931 TECH ACCESS. THE TECH INDUSTRY IS NEVER 00:01:37.931 --> 00:01:38.098 TECH ACCESS. THE TECH INDUSTRY IS NEVER IN 00:01:38.098 --> 00:01:38.231 THE TECH INDUSTRY IS NEVER IN 00:01:38.231 --> 00:01:38.598 THE TECH INDUSTRY IS NEVER IN FRONT 00:01:38.598 --> 00:01:38.731 THE TECH INDUSTRY IS NEVER IN FRONT OF 00:01:38.731 --> 00:01:40.834 THE TECH INDUSTRY IS NEVER IN FRONT OF A 00:01:40.834 --> 00:01:40.900 THE TECH INDUSTRY IS NEVER IN FRONT OF A PUCK 00:01:40.900 --> 00:01:40.967 THE TECH INDUSTRY IS NEVER IN FRONT OF A PUCK AND 00:01:40.967 --> 00:01:41.034 THE TECH INDUSTRY IS NEVER IN FRONT OF A PUCK AND IF 00:01:41.034 --> 00:01:41.101 THE TECH INDUSTRY IS NEVER IN FRONT OF A PUCK AND IF YOU 00:01:41.101 --> 00:01:41.167 THE TECH INDUSTRY IS NEVER IN FRONT OF A PUCK AND IF YOU KNOW 00:01:41.167 --> 00:01:41.267 FRONT OF A PUCK AND IF YOU KNOW 00:01:41.267 --> 00:01:41.634 FRONT OF A PUCK AND IF YOU KNOW ICE 00:01:41.634 --> 00:01:41.701 FRONT OF A PUCK AND IF YOU KNOW ICE SKATING, 00:01:41.701 --> 00:01:41.801 FRONT OF A PUCK AND IF YOU KNOW ICE SKATING, YOU 00:01:41.801 --> 00:01:41.901 FRONT OF A PUCK AND IF YOU KNOW ICE SKATING, YOU KNOW 00:01:41.901 --> 00:01:43.169 FRONT OF A PUCK AND IF YOU KNOW ICE SKATING, YOU KNOW WHAT 00:01:43.169 --> 00:01:43.203 FRONT OF A PUCK AND IF YOU KNOW ICE SKATING, YOU KNOW WHAT I 00:01:43.203 --> 00:01:43.503 ICE SKATING, YOU KNOW WHAT I 00:01:43.503 --> 00:01:43.536 ICE SKATING, YOU KNOW WHAT I MEAN 00:01:43.536 --> 00:01:43.703 MEAN 00:01:43.703 --> 00:01:43.770 MEAN YOU'VE 00:01:43.770 --> 00:01:43.803 MEAN YOU'VE GOT 00:01:43.803 --> 00:01:43.870 MEAN YOU'VE GOT TO 00:01:43.870 --> 00:01:44.070 MEAN YOU'VE GOT TO GO 00:01:44.070 --> 00:01:44.237 MEAN YOU'VE GOT TO GO WHERE 00:01:44.237 --> 00:01:44.437 MEAN YOU'VE GOT TO GO WHERE THE 00:01:44.437 --> 00:01:44.604 MEAN YOU'VE GOT TO GO WHERE THE PUCK 00:01:44.604 --> 00:01:44.904 YOU'VE GOT TO GO WHERE THE PUCK 00:01:44.904 --> 00:01:45.004 YOU'VE GOT TO GO WHERE THE PUCK IS 00:01:45.004 --> 00:01:45.138 YOU'VE GOT TO GO WHERE THE PUCK IS GOING 00:01:45.138 --> 00:01:45.405 YOU'VE GOT TO GO WHERE THE PUCK IS GOING AND 00:01:45.405 --> 00:01:45.505 YOU'VE GOT TO GO WHERE THE PUCK IS GOING AND THEY'RE 00:01:45.505 --> 00:01:46.106 YOU'VE GOT TO GO WHERE THE PUCK IS GOING AND THEY'RE ALWAYS 00:01:46.106 --> 00:01:46.272 IS GOING AND THEY'RE ALWAYS 00:01:46.272 --> 00:01:46.306 IS GOING AND THEY'RE ALWAYS BEHIND 00:01:46.306 --> 00:01:46.406 BEHIND 00:01:46.406 --> 00:01:46.439 BEHIND SO 00:01:46.439 --> 00:01:46.539 BEHIND SO I 00:01:46.539 --> 00:01:46.773 BEHIND SO I THINK 00:01:46.773 --> 00:01:47.107 BEHIND SO I THINK WE'RE 00:01:47.107 --> 00:01:47.373 BEHIND SO I THINK WE'RE NOW 00:01:47.373 --> 00:01:47.407 BEHIND SO I THINK WE'RE NOW PLAYING 00:01:47.407 --> 00:01:47.540 SO I THINK WE'RE NOW PLAYING 00:01:47.540 --> 00:01:47.874 SO I THINK WE'RE NOW PLAYING CATCH 00:01:47.874 --> 00:01:47.907 SO I THINK WE'RE NOW PLAYING CATCH UP 00:01:47.907 --> 00:01:48.108 CATCH UP 00:01:48.108 --> 00:01:48.975 CATCH UP THE 00:01:48.975 --> 00:01:49.409 CATCH UP THE PANDEMIC, 00:01:49.409 --> 00:01:49.609 CATCH UP THE PANDEMIC, EVERY 00:01:49.609 --> 00:01:50.043 CATCH UP THE PANDEMIC, EVERY TECH 00:01:50.043 --> 00:01:50.076 CATCH UP THE PANDEMIC, EVERY TECH COMPANY 00:01:50.076 --> 00:01:50.176 THE PANDEMIC, EVERY TECH COMPANY 00:01:50.176 --> 00:01:50.243 THE PANDEMIC, EVERY TECH COMPANY GOT 00:01:50.243 --> 00:01:50.643 THE PANDEMIC, EVERY TECH COMPANY GOT ON 00:01:50.643 --> 00:01:50.977 THE PANDEMIC, EVERY TECH COMPANY GOT ON THEIR 00:01:50.977 --> 00:01:51.177 THE PANDEMIC, EVERY TECH COMPANY GOT ON THEIR SHOW, 00:01:51.177 --> 00:01:51.311 THE PANDEMIC, EVERY TECH COMPANY GOT ON THEIR SHOW, TOLD 00:01:51.311 --> 00:01:51.845 THE PANDEMIC, EVERY TECH COMPANY GOT ON THEIR SHOW, TOLD ALL 00:01:51.845 --> 00:01:52.345 THE PANDEMIC, EVERY TECH COMPANY GOT ON THEIR SHOW, TOLD ALL THE 00:01:52.345 --> 00:01:52.545 GOT ON THEIR SHOW, TOLD ALL THE 00:01:52.545 --> 00:01:53.146 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, 00:01:53.146 --> 00:01:53.480 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, HEY, 00:01:53.480 --> 00:01:53.546 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, HEY, LIKE, 00:01:53.546 --> 00:01:53.880 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, HEY, LIKE, THIS 00:01:53.880 --> 00:01:54.147 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, HEY, LIKE, THIS IS 00:01:54.147 --> 00:01:54.180 GOT ON THEIR SHOW, TOLD ALL THE ANALYSTS, HEY, LIKE, THIS IS THE 00:01:54.180 --> 00:01:54.414 ANALYSTS, HEY, LIKE, THIS IS THE 00:01:54.414 --> 00:01:54.781 ANALYSTS, HEY, LIKE, THIS IS THE NEW 00:01:54.781 --> 00:01:54.814 ANALYSTS, HEY, LIKE, THIS IS THE NEW REALITY. 00:01:54.814 --> 00:01:54.948 NEW REALITY. 00:01:54.948 --> 00:01:55.248 NEW REALITY. IT'S 00:01:55.248 --> 00:01:57.383 NEW REALITY. IT'S NOT 00:01:57.383 --> 00:01:57.450 NEW REALITY. IT'S NOT A 00:01:57.450 --> 00:01:57.750 NEW REALITY. IT'S NOT A PULL 00:01:57.750 --> 00:01:58.251 NEW REALITY. IT'S NOT A PULL FORWARD 00:01:58.251 --> 00:01:58.618 NEW REALITY. IT'S NOT A PULL FORWARD AND 00:01:58.618 --> 00:01:58.651 NEW REALITY. IT'S NOT A PULL FORWARD AND THAT 00:01:58.651 --> 00:01:59.352 IT'S NOT A PULL FORWARD AND THAT 00:01:59.352 --> 00:01:59.452 IT'S NOT A PULL FORWARD AND THAT ALL 00:01:59.452 --> 00:01:59.586 IT'S NOT A PULL FORWARD AND THAT ALL ENDED 00:01:59.586 --> 00:01:59.786 IT'S NOT A PULL FORWARD AND THAT ALL ENDED UP 00:01:59.786 --> 00:02:00.253 IT'S NOT A PULL FORWARD AND THAT ALL ENDED UP NOT 00:02:00.253 --> 00:02:00.520 IT'S NOT A PULL FORWARD AND THAT ALL ENDED UP NOT BEING 00:02:00.520 --> 00:02:00.553 IT'S NOT A PULL FORWARD AND THAT ALL ENDED UP NOT BEING TRUE. 00:02:00.553 --> 00:02:00.653 ALL ENDED UP NOT BEING TRUE. 00:02:00.653 --> 00:02:00.687 ALL ENDED UP NOT BEING TRUE. SO 00:02:00.687 --> 00:02:00.787 ALL ENDED UP NOT BEING TRUE. SO I 00:02:00.787 --> 00:02:00.854 ALL ENDED UP NOT BEING TRUE. SO I THINK 00:02:00.854 --> 00:02:01.154 ALL ENDED UP NOT BEING TRUE. SO I THINK ALL 00:02:01.154 --> 00:02:01.488 ALL ENDED UP NOT BEING TRUE. SO I THINK ALL THESE 00:02:01.488 --> 00:02:01.521 ALL ENDED UP NOT BEING TRUE. SO I THINK ALL THESE COMPANIES 00:02:01.521 --> 00:02:01.788 SO I THINK ALL THESE COMPANIES 00:02:01.788 --> 00:02:01.921 SO I THINK ALL THESE COMPANIES ARE 00:02:01.921 --> 00:02:02.255 SO I THINK ALL THESE COMPANIES ARE SEEING 00:02:02.255 --> 00:02:02.388 SO I THINK ALL THESE COMPANIES ARE SEEING A 00:02:02.388 --> 00:02:02.889 SO I THINK ALL THESE COMPANIES ARE SEEING A PULLBACK 00:02:02.889 --> 00:02:03.089 SO I THINK ALL THESE COMPANIES ARE SEEING A PULLBACK IN 00:02:03.089 --> 00:02:03.256 SO I THINK ALL THESE COMPANIES ARE SEEING A PULLBACK IN DEMAND 00:02:03.256 --> 00:02:03.356 ARE SEEING A PULLBACK IN DEMAND 00:02:03.356 --> 00:02:03.423 ARE SEEING A PULLBACK IN DEMAND AND 00:02:03.423 --> 00:02:03.623 ARE SEEING A PULLBACK IN DEMAND AND IT 00:02:03.623 --> 00:02:03.957 ARE SEEING A PULLBACK IN DEMAND AND IT DOESN'T 00:02:03.957 --> 00:02:04.124 ARE SEEING A PULLBACK IN DEMAND AND IT DOESN'T MATTER 00:02:04.124 --> 00:02:04.457 ARE SEEING A PULLBACK IN DEMAND AND IT DOESN'T MATTER IF 00:02:04.457 --> 00:02:04.624 ARE SEEING A PULLBACK IN DEMAND AND IT DOESN'T MATTER IF YOU'RE 00:02:04.624 --> 00:02:05.091 AND IT DOESN'T MATTER IF YOU'RE 00:02:05.091 --> 00:02:05.525 AND IT DOESN'T MATTER IF YOU'RE IN 00:02:05.525 --> 00:02:05.959 AND IT DOESN'T MATTER IF YOU'RE IN CYBERSECURITY, 00:02:05.959 --> 00:02:06.192 AND IT DOESN'T MATTER IF YOU'RE IN CYBERSECURITY, APPLICATIONS, 00:02:06.192 --> 00:02:06.493 IN CYBERSECURITY, APPLICATIONS, 00:02:06.493 --> 00:02:06.626 IN CYBERSECURITY, APPLICATIONS, INFRASTRUCTURE, 00:02:06.626 --> 00:02:06.726 IN CYBERSECURITY, APPLICATIONS, INFRASTRUCTURE, YOU'RE 00:02:06.726 --> 00:02:06.793 IN CYBERSECURITY, APPLICATIONS, INFRASTRUCTURE, YOU'RE SEEING 00:02:06.793 --> 00:02:07.460 INFRASTRUCTURE, YOU'RE SEEING 00:02:07.460 --> 00:02:08.528 INFRASTRUCTURE, YOU'RE SEEING THE 00:02:08.528 --> 00:02:08.561 INFRASTRUCTURE, YOU'RE SEEING THE PULLBACK 00:02:08.561 --> 00:02:08.661 THE PULLBACK 00:02:08.661 --> 00:02:09.062 THE PULLBACK AND 00:02:09.062 --> 00:02:09.195 THE PULLBACK AND SO 00:02:09.195 --> 00:02:09.696 THE PULLBACK AND SO THERE'S 00:02:09.696 --> 00:02:09.929 THE PULLBACK AND SO THERE'S A 00:02:09.929 --> 00:02:10.096 THE PULLBACK AND SO THERE'S A TREMENDOUS 00:02:10.096 --> 00:02:10.263 AND SO THERE'S A TREMENDOUS 00:02:10.263 --> 00:02:10.363 AND SO THERE'S A TREMENDOUS AMOUNT 00:02:10.363 --> 00:02:10.497 AND SO THERE'S A TREMENDOUS AMOUNT OF 00:02:10.497 --> 00:02:10.697 AND SO THERE'S A TREMENDOUS AMOUNT OF EXCESS 00:02:10.697 --> 00:02:11.097 AND SO THERE'S A TREMENDOUS AMOUNT OF EXCESS AND 00:02:11.097 --> 00:02:11.131 AND SO THERE'S A TREMENDOUS AMOUNT OF EXCESS AND WE'VE 00:02:11.131 --> 00:02:11.297 AMOUNT OF EXCESS AND WE'VE 00:02:11.297 --> 00:02:11.798 AMOUNT OF EXCESS AND WE'VE LOOKED 00:02:11.798 --> 00:02:12.065 AMOUNT OF EXCESS AND WE'VE LOOKED AT 00:02:12.065 --> 00:02:12.365 AMOUNT OF EXCESS AND WE'VE LOOKED AT IF 00:02:12.365 --> 00:02:12.799 AMOUNT OF EXCESS AND WE'VE LOOKED AT IF YOU 00:02:12.799 --> 00:02:13.366 AMOUNT OF EXCESS AND WE'VE LOOKED AT IF YOU TAKE 00:02:13.366 --> 00:02:13.533 AMOUNT OF EXCESS AND WE'VE LOOKED AT IF YOU TAKE GOOGLE, 00:02:13.533 --> 00:02:13.666 LOOKED AT IF YOU TAKE GOOGLE, 00:02:13.666 --> 00:02:13.766 LOOKED AT IF YOU TAKE GOOGLE, THEIR 00:02:13.766 --> 00:02:14.033 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD 00:02:14.033 --> 00:02:14.267 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD COUNT 00:02:14.267 --> 00:02:14.467 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD COUNT WAS 00:02:14.467 --> 00:02:14.968 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD COUNT WAS UP 00:02:14.968 --> 00:02:15.101 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD COUNT WAS UP OVER 00:02:15.101 --> 00:02:15.135 LOOKED AT IF YOU TAKE GOOGLE, THEIR HEAD COUNT WAS UP OVER 25% 00:02:15.135 --> 00:02:15.268 THEIR HEAD COUNT WAS UP OVER 25% 00:02:15.268 --> 00:02:15.368 THEIR HEAD COUNT WAS UP OVER 25% OR 00:02:15.368 --> 00:02:16.002 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE 00:02:16.002 --> 00:02:16.069 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE TO 00:02:16.069 --> 00:02:16.136 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE TO 25% 00:02:16.136 --> 00:02:17.036 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE TO 25% IN 00:02:17.036 --> 00:02:17.270 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE TO 25% IN THE 00:02:17.270 --> 00:02:17.604 THEIR HEAD COUNT WAS UP OVER 25% OR CLOSE TO 25% IN THE LAST 00:02:17.604 --> 00:02:18.505 OR CLOSE TO 25% IN THE LAST 00:02:18.505 --> 00:02:18.538 OR CLOSE TO 25% IN THE LAST QUARTER. 00:02:18.538 --> 00:02:19.372 QUARTER. 00:02:19.372 --> 00:02:19.639 QUARTER. THEY'RE 00:02:19.639 --> 00:02:19.839 QUARTER. THEY'RE GOING 00:02:19.839 --> 00:02:19.973 QUARTER. THEY'RE GOING TO 00:02:19.973 --> 00:02:20.607 QUARTER. THEY'RE GOING TO GROW 00:02:20.607 --> 00:02:20.640 QUARTER. THEY'RE GOING TO GROW HIGH 00:02:20.640 --> 00:02:21.040 THEY'RE GOING TO GROW HIGH 00:02:21.040 --> 00:02:21.474 THEY'RE GOING TO GROW HIGH SINGLE 00:02:21.474 --> 00:02:22.041 THEY'RE GOING TO GROW HIGH SINGLE DIGIT 00:02:22.041 --> 00:02:22.275 THEY'RE GOING TO GROW HIGH SINGLE DIGIT NEXT 00:02:22.275 --> 00:02:22.375 THEY'RE GOING TO GROW HIGH SINGLE DIGIT NEXT YEAR 00:02:22.375 --> 00:02:22.442 THEY'RE GOING TO GROW HIGH SINGLE DIGIT NEXT YEAR PER 00:02:22.442 --> 00:02:22.575 THEY'RE GOING TO GROW HIGH SINGLE DIGIT NEXT YEAR PER WALL 00:02:22.575 --> 00:02:23.943 SINGLE DIGIT NEXT YEAR PER WALL 00:02:23.943 --> 00:02:24.277 SINGLE DIGIT NEXT YEAR PER WALL STREET 00:02:24.277 --> 00:02:24.310 SINGLE DIGIT NEXT YEAR PER WALL STREET ESTIMATES 00:02:24.310 --> 00:02:24.444 STREET ESTIMATES 00:02:24.444 --> 00:02:24.711 STREET ESTIMATES SO 00:02:24.711 --> 00:02:25.011 STREET ESTIMATES SO YOU 00:02:25.011 --> 00:02:25.445 STREET ESTIMATES SO YOU CAN'T 00:02:25.445 --> 00:02:25.578 STREET ESTIMATES SO YOU CAN'T HAVE 00:02:25.578 --> 00:02:26.379 STREET ESTIMATES SO YOU CAN'T HAVE THESE 00:02:26.379 --> 00:02:26.412 STREET ESTIMATES SO YOU CAN'T HAVE THESE HEAD 00:02:26.412 --> 00:02:26.880 SO YOU CAN'T HAVE THESE HEAD 00:02:26.880 --> 00:02:27.447 SO YOU CAN'T HAVE THESE HEAD COUNT 00:02:27.447 --> 00:02:28.314 SO YOU CAN'T HAVE THESE HEAD COUNT NUMBERS 00:02:28.314 --> 00:02:28.615 SO YOU CAN'T HAVE THESE HEAD COUNT NUMBERS GROWING 00:02:28.615 --> 00:02:28.648 SO YOU CAN'T HAVE THESE HEAD COUNT NUMBERS GROWING FASTER 00:02:28.648 --> 00:02:29.582 COUNT NUMBERS GROWING FASTER 00:02:29.582 --> 00:02:29.849 COUNT NUMBERS GROWING FASTER THAN 00:02:29.849 --> 00:02:29.883 COUNT NUMBERS GROWING FASTER THAN REVENUE 00:02:29.883 --> 00:02:29.983 THAN REVENUE 00:02:29.983 --> 00:02:30.016 THAN REVENUE SO 00:02:30.016 --> 00:02:31.251 THAN REVENUE SO I 00:02:31.251 --> 00:02:32.085 THAN REVENUE SO I THINK 00:02:32.085 --> 00:02:32.218 THAN REVENUE SO I THINK ULTIMATELY, 00:02:32.218 --> 00:02:32.919 THAN REVENUE SO I THINK ULTIMATELY, THERE'S 00:02:32.919 --> 00:02:32.952 THAN REVENUE SO I THINK ULTIMATELY, THERE'S A 00:02:32.952 --> 00:02:33.186 SO I THINK ULTIMATELY, THERE'S A 00:02:33.186 --> 00:02:33.286 SO I THINK ULTIMATELY, THERE'S A TREMENDOUS 00:02:33.286 --> 00:02:33.887 SO I THINK ULTIMATELY, THERE'S A TREMENDOUS AMOUNT 00:02:33.887 --> 00:02:34.187 SO I THINK ULTIMATELY, THERE'S A TREMENDOUS AMOUNT OF 00:02:34.187 --> 00:02:34.220 SO I THINK ULTIMATELY, THERE'S A TREMENDOUS AMOUNT OF EXCESS. 00:02:34.220 --> 00:02:34.320 TREMENDOUS AMOUNT OF EXCESS. 00:02:34.320 --> 00:02:34.420 TREMENDOUS AMOUNT OF EXCESS. YOU 00:02:34.420 --> 00:02:34.888 TREMENDOUS AMOUNT OF EXCESS. YOU LOOK 00:02:34.888 --> 00:02:35.255 TREMENDOUS AMOUNT OF EXCESS. YOU LOOK AT 00:02:35.255 --> 00:02:35.655 TREMENDOUS AMOUNT OF EXCESS. YOU LOOK AT AMAZON'S 00:02:35.655 --> 00:02:36.189 TREMENDOUS AMOUNT OF EXCESS. YOU LOOK AT AMAZON'S HEAD 00:02:36.189 --> 00:02:36.222 TREMENDOUS AMOUNT OF EXCESS. YOU LOOK AT AMAZON'S HEAD COUNT. 00:02:36.222 --> 00:02:36.322 YOU LOOK AT AMAZON'S HEAD COUNT. 00:02:36.322 --> 00:02:36.523 YOU LOOK AT AMAZON'S HEAD COUNT. YOU 00:02:36.523 --> 00:02:36.623 YOU LOOK AT AMAZON'S HEAD COUNT. YOU LOOK 00:02:36.623 --> 00:02:37.690 YOU LOOK AT AMAZON'S HEAD COUNT. YOU LOOK ACROSS 00:02:37.690 --> 00:02:40.994 YOU LOOK AT AMAZON'S HEAD COUNT. YOU LOOK ACROSS THE 00:02:40.994 --> 00:02:41.027 YOU LOOK AT AMAZON'S HEAD COUNT. YOU LOOK ACROSS THE BOARD. 00:02:41.027 --> 00:02:42.095 YOU LOOK ACROSS THE BOARD. 00:02:42.095 --> 00:02:42.162 YOU LOOK ACROSS THE BOARD. THERE'S 00:02:42.162 --> 00:02:42.228 YOU LOOK ACROSS THE BOARD. THERE'S NOT 00:02:42.228 --> 00:02:42.362 YOU LOOK ACROSS THE BOARD. THERE'S NOT ONE 00:02:42.362 --> 00:02:42.395 YOU LOOK ACROSS THE BOARD. THERE'S NOT ONE VENDOR 00:02:42.395 --> 00:02:42.529 YOU LOOK ACROSS THE BOARD. THERE'S NOT ONE VENDOR TO 00:02:42.529 --> 00:02:42.562 YOU LOOK ACROSS THE BOARD. THERE'S NOT ONE VENDOR TO SINGLE 00:02:42.562 --> 00:02:42.695 THERE'S NOT ONE VENDOR TO SINGLE 00:02:42.695 --> 00:02:42.729 THERE'S NOT ONE VENDOR TO SINGLE OUT. 00:02:42.729 --> 00:02:42.862 OUT. 00:02:42.862 --> 00:02:42.929 OUT. THEY 00:02:42.929 --> 00:02:42.996 OUT. THEY ALL 00:02:42.996 --> 00:02:43.630 OUT. THEY ALL WERE 00:02:43.630 --> 00:02:43.663 OUT. THEY ALL WERE GUILTY 00:02:43.663 --> 00:02:43.930 THEY ALL WERE GUILTY 00:02:43.930 --> 00:02:44.063 THEY ALL WERE GUILTY WE'RE 00:02:44.063 --> 00:02:44.430 THEY ALL WERE GUILTY WE'RE GOING 00:02:44.430 --> 00:02:44.564 THEY ALL WERE GUILTY WE'RE GOING TO 00:02:44.564 --> 00:02:44.797 THEY ALL WERE GUILTY WE'RE GOING TO SEE 00:02:44.797 --> 00:02:45.064 THEY ALL WERE GUILTY WE'RE GOING TO SEE AT 00:02:45.064 --> 00:02:45.665 THEY ALL WERE GUILTY WE'RE GOING TO SEE AT A 00:02:45.665 --> 00:02:45.698 THEY ALL WERE GUILTY WE'RE GOING TO SEE AT A MINIMUM, 00:02:45.698 --> 00:02:45.765 WE'RE GOING TO SEE AT A MINIMUM, 00:02:45.765 --> 00:02:46.266 WE'RE GOING TO SEE AT A MINIMUM, A 00:02:46.266 --> 00:02:46.332 WE'RE GOING TO SEE AT A MINIMUM, A FREEZE, 00:02:46.332 --> 00:02:47.400 WE'RE GOING TO SEE AT A MINIMUM, A FREEZE, AND 00:02:47.400 --> 00:02:47.433 WE'RE GOING TO SEE AT A MINIMUM, A FREEZE, AND PROBABLY 00:02:47.433 --> 00:02:47.667 A FREEZE, AND PROBABLY 00:02:47.667 --> 00:02:47.700 A FREEZE, AND PROBABLY CONTINUING 00:02:47.700 --> 00:02:47.867 A FREEZE, AND PROBABLY CONTINUING TO 00:02:47.867 --> 00:02:49.969 A FREEZE, AND PROBABLY CONTINUING TO SEE 00:02:49.969 --> 00:02:50.003 A FREEZE, AND PROBABLY CONTINUING TO SEE ADDITIONAL 00:02:50.003 --> 00:02:50.170 CONTINUING TO SEE ADDITIONAL 00:02:50.170 --> 00:02:50.236 CONTINUING TO SEE ADDITIONAL LAYOFFS 00:02:50.236 --> 00:02:50.403 CONTINUING TO SEE ADDITIONAL LAYOFFS AS 00:02:50.403 --> 00:02:50.737 CONTINUING TO SEE ADDITIONAL LAYOFFS AS WE 00:02:50.737 --> 00:02:50.803 CONTINUING TO SEE ADDITIONAL LAYOFFS AS WE GO 00:02:50.803 --> 00:02:51.070 CONTINUING TO SEE ADDITIONAL LAYOFFS AS WE GO INTO 00:02:51.070 --> 00:02:54.040 CONTINUING TO SEE ADDITIONAL LAYOFFS AS WE GO INTO THE 00:02:54.040 --> 00:02:54.073 CONTINUING TO SEE ADDITIONAL LAYOFFS AS WE GO INTO THE '23. 00:02:54.073 --> 00:02:54.207 LAYOFFS AS WE GO INTO THE '23. 00:02:54.207 --> 00:02:54.274 LAYOFFS AS WE GO INTO THE '23. THAT 00:02:54.274 --> 00:02:54.407 LAYOFFS AS WE GO INTO THE '23. THAT WILL 00:02:54.407 --> 00:02:55.141 LAYOFFS AS WE GO INTO THE '23. THAT WILL RESTORE 00:02:55.141 --> 00:02:55.241 LAYOFFS AS WE GO INTO THE '23. THAT WILL RESTORE THE 00:02:55.241 --> 00:02:55.341 LAYOFFS AS WE GO INTO THE '23. THAT WILL RESTORE THE HELLO 00:02:55.341 --> 00:02:55.608 LAYOFFS AS WE GO INTO THE '23. THAT WILL RESTORE THE HELLO O 00:02:55.608 --> 00:02:55.842 LAYOFFS AS WE GO INTO THE '23. THAT WILL RESTORE THE HELLALTH 00:02:55.842 --> 00:02:55.975 THAT WILL RESTORE THE HELLALTH 00:02:55.975 --> 00:02:56.276 THAT WILL RESTORE THE HELLALTH TECH, 00:02:56.276 --> 00:02:58.311 THAT WILL RESTORE THE HELLALTH TECH, THE 00:02:58.311 --> 00:02:58.511 THAT WILL RESTORE THE HELLALTH TECH, THE MARGIN 00:02:58.511 --> 00:02:58.545 THAT WILL RESTORE THE HELLALTH TECH, THE MARGIN STRUCTURES. 00:02:58.545 --> 00:02:58.678 TECH, THE MARGIN STRUCTURES. 00:02:58.678 --> 00:02:58.745 TECH, THE MARGIN STRUCTURES. IT'S 00:02:58.745 --> 00:02:58.845 TECH, THE MARGIN STRUCTURES. IT'S NOT 00:02:58.845 --> 00:02:58.945 TECH, THE MARGIN STRUCTURES. IT'S NOT LONGER 00:02:58.945 --> 00:02:59.379 TECH, THE MARGIN STRUCTURES. IT'S NOT LONGER JUST 00:02:59.379 --> 00:02:59.412 TECH, THE MARGIN STRUCTURES. IT'S NOT LONGER JUST ABOUT 00:02:59.412 --> 00:02:59.679 IT'S NOT LONGER JUST ABOUT 00:02:59.679 --> 00:02:59.712 IT'S NOT LONGER JUST ABOUT GROWTH 00:02:59.712 --> 00:02:59.846 GROWTH 00:02:59.846 --> 00:02:59.946 GROWTH IT'S 00:02:59.946 --> 00:03:00.146 GROWTH IT'S ABOUT 00:03:00.146 --> 00:03:00.380 GROWTH IT'S ABOUT RESPONSIBLE 00:03:00.380 --> 00:03:00.547 GROWTH IT'S ABOUT RESPONSIBLE GROWTH 00:03:00.547 --> 00:03:00.813 IT'S ABOUT RESPONSIBLE GROWTH 00:03:00.813 --> 00:03:01.080 IT'S ABOUT RESPONSIBLE GROWTH AND 00:03:01.080 --> 00:03:01.214 IT'S ABOUT RESPONSIBLE GROWTH AND PROFITABILITY 00:03:01.214 --> 00:03:01.648 IT'S ABOUT RESPONSIBLE GROWTH AND PROFITABILITY AND 00:03:01.648 --> 00:03:01.881 IT'S ABOUT RESPONSIBLE GROWTH AND PROFITABILITY AND THE 00:03:01.881 --> 00:03:01.915 IT'S ABOUT RESPONSIBLE GROWTH AND PROFITABILITY AND THE ONLY 00:03:01.915 --> 00:03:02.615 AND PROFITABILITY AND THE ONLY 00:03:02.615 --> 00:03:02.782 AND PROFITABILITY AND THE ONLY WAY 00:03:02.782 --> 00:03:03.049 AND PROFITABILITY AND THE ONLY WAY YOU 00:03:03.049 --> 00:03:03.516 AND PROFITABILITY AND THE ONLY WAY YOU GET 00:03:03.516 --> 00:03:03.950 AND PROFITABILITY AND THE ONLY WAY YOU GET THERE, 00:03:03.950 --> 00:03:04.117 AND PROFITABILITY AND THE ONLY WAY YOU GET THERE, THE 00:03:04.117 --> 00:03:04.284 AND PROFITABILITY AND THE ONLY WAY YOU GET THERE, THE ONLY 00:03:04.284 --> 00:03:04.417 WAY YOU GET THERE, THE ONLY 00:03:04.417 --> 00:03:04.484 WAY YOU GET THERE, THE ONLY THING 00:03:04.484 --> 00:03:04.651 WAY YOU GET THERE, THE ONLY THING YOU 00:03:04.651 --> 00:03:04.784 WAY YOU GET THERE, THE ONLY THING YOU CAN 00:03:04.784 --> 00:03:04.918 WAY YOU GET THERE, THE ONLY THING YOU CAN CONTROL 00:03:04.918 --> 00:03:06.953 WAY YOU GET THERE, THE ONLY THING YOU CAN CONTROL IS 00:03:06.953 --> 00:03:06.986 WAY YOU GET THERE, THE ONLY THING YOU CAN CONTROL IS THE 00:03:06.986 --> 00:03:07.153 THING YOU CAN CONTROL IS THE 00:03:07.153 --> 00:03:07.253 THING YOU CAN CONTROL IS THE BOTTOM 00:03:07.253 --> 00:03:07.287 THING YOU CAN CONTROL IS THE BOTTOM LINE. 00:03:07.287 --> 00:03:07.387 BOTTOM LINE. 00:03:07.387 --> 00:03:07.453 BOTTOM LINE. >> 00:03:07.453 --> 00:03:07.587 BOTTOM LINE. >> LET 00:03:07.587 --> 00:03:08.087 BOTTOM LINE. >> LET ME 00:03:08.087 --> 00:03:08.221 BOTTOM LINE. >> LET ME ASK 00:03:08.221 --> 00:03:08.321 BOTTOM LINE. >> LET ME ASK YOU 00:03:08.321 --> 00:03:08.888 BOTTOM LINE. >> LET ME ASK YOU ABOUT 00:03:08.888 --> 00:03:08.922 BOTTOM LINE. >> LET ME ASK YOU ABOUT WHAT 00:03:08.922 --> 00:03:10.223 >> LET ME ASK YOU ABOUT WHAT 00:03:10.223 --> 00:03:10.356 >> LET ME ASK YOU ABOUT WHAT COMES 00:03:10.356 --> 00:03:10.423 >> LET ME ASK YOU ABOUT WHAT COMES NEXT 00:03:10.423 --> 00:03:11.624 COMES NEXT 00:03:11.624 --> 00:03:11.758 COMES NEXT WE'RE 00:03:11.758 --> 00:03:11.925 COMES NEXT WE'RE PAP 00:03:11.925 --> 00:03:12.192 COMES NEXT WE'RE PAINTING 00:03:12.192 --> 00:03:12.759 COMES NEXT WE'RE PAINTING THIS 00:03:12.759 --> 00:03:12.792 COMES NEXT WE'RE PAINTING THIS INDUSTRY 00:03:12.792 --> 00:03:12.926 WE'RE PAINTING THIS INDUSTRY 00:03:12.926 --> 00:03:12.959 WE'RE PAINTING THIS INDUSTRY WITH 00:03:12.959 --> 00:03:13.259 WE'RE PAINTING THIS INDUSTRY WITH A 00:03:13.259 --> 00:03:13.393 WE'RE PAINTING THIS INDUSTRY WITH A BROAD 00:03:13.393 --> 00:03:13.593 WE'RE PAINTING THIS INDUSTRY WITH A BROAD BRUSH, 00:03:13.593 --> 00:03:13.993 WE'RE PAINTING THIS INDUSTRY WITH A BROAD BRUSH, BUT 00:03:13.993 --> 00:03:14.027 WE'RE PAINTING THIS INDUSTRY WITH A BROAD BRUSH, BUT EACH 00:03:14.027 --> 00:03:14.160 WITH A BROAD BRUSH, BUT EACH 00:03:14.160 --> 00:03:14.260 WITH A BROAD BRUSH, BUT EACH STORY 00:03:14.260 --> 00:03:14.627 WITH A BROAD BRUSH, BUT EACH STORY IS 00:03:14.627 --> 00:03:16.596 WITH A BROAD BRUSH, BUT EACH STORY IS SO 00:03:16.596 --> 00:03:16.629 WITH A BROAD BRUSH, BUT EACH STORY IS SO DIFFERENT. 00:03:16.629 --> 00:03:16.729 STORY IS SO DIFFERENT. 00:03:16.729 --> 00:03:16.829 STORY IS SO DIFFERENT. YOU 00:03:16.829 --> 00:03:16.863 STORY IS SO DIFFERENT. YOU LOOK 00:03:16.863 --> 00:03:16.996 STORY IS SO DIFFERENT. YOU LOOK AT 00:03:16.996 --> 00:03:17.030 STORY IS SO DIFFERENT. YOU LOOK AT AMAZON 00:03:17.030 --> 00:03:17.096 YOU LOOK AT AMAZON 00:03:17.096 --> 00:03:17.230 YOU LOOK AT AMAZON A 00:03:17.230 --> 00:03:17.497 YOU LOOK AT AMAZON A STORY 00:03:17.497 --> 00:03:18.097 YOU LOOK AT AMAZON A STORY ABOUT 00:03:18.097 --> 00:03:18.398 YOU LOOK AT AMAZON A STORY ABOUT PACKAGE 00:03:18.398 --> 00:03:18.431 YOU LOOK AT AMAZON A STORY ABOUT PACKAGE DELIVERIES 00:03:18.431 --> 00:03:18.598 A STORY ABOUT PACKAGE DELIVERIES 00:03:18.598 --> 00:03:20.266 A STORY ABOUT PACKAGE DELIVERIES DURING 00:03:20.266 --> 00:03:20.800 A STORY ABOUT PACKAGE DELIVERIES DURING THE 00:03:20.800 --> 00:03:20.833 A STORY ABOUT PACKAGE DELIVERIES DURING THE PANDEMIC. 00:03:20.833 --> 00:03:21.301 DURING THE PANDEMIC. 00:03:21.301 --> 00:03:21.401 DURING THE PANDEMIC. FACEBOOK 00:03:21.401 --> 00:03:21.701 DURING THE PANDEMIC. FACEBOOK IS 00:03:21.701 --> 00:03:21.834 DURING THE PANDEMIC. FACEBOOK IS A 00:03:21.834 --> 00:03:22.101 DURING THE PANDEMIC. FACEBOOK IS A STORY 00:03:22.101 --> 00:03:22.535 DURING THE PANDEMIC. FACEBOOK IS A STORY ABOUT 00:03:22.535 --> 00:03:22.569 DURING THE PANDEMIC. FACEBOOK IS A STORY ABOUT AN 00:03:22.569 --> 00:03:22.735 FACEBOOK IS A STORY ABOUT AN 00:03:22.735 --> 00:03:23.603 FACEBOOK IS A STORY ABOUT AN AGING 00:03:23.603 --> 00:03:23.736 FACEBOOK IS A STORY ABOUT AN AGING USER 00:03:23.736 --> 00:03:23.803 FACEBOOK IS A STORY ABOUT AN AGING USER BASE. 00:03:23.803 --> 00:03:24.237 AGING USER BASE. 00:03:24.237 --> 00:03:24.437 AGING USER BASE. NOT 00:03:24.437 --> 00:03:24.571 AGING USER BASE. NOT ADAPTING 00:03:24.571 --> 00:03:24.971 AGING USER BASE. NOT ADAPTING TO 00:03:24.971 --> 00:03:25.438 AGING USER BASE. NOT ADAPTING TO NEW 00:03:25.438 --> 00:03:25.471 AGING USER BASE. NOT ADAPTING TO NEW TECHNOLOGIES 00:03:25.471 --> 00:03:26.806 NOT ADAPTING TO NEW TECHNOLOGIES 00:03:26.806 --> 00:03:27.607 NOT ADAPTING TO NEW TECHNOLOGIES FAST 00:03:27.607 --> 00:03:27.640 NOT ADAPTING TO NEW TECHNOLOGIES FAST ENOUGH. 00:03:27.640 --> 00:03:29.909 FAST ENOUGH. 00:03:29.909 --> 00:03:29.976 FAST ENOUGH. TWITTER, 00:03:29.976 --> 00:03:30.043 FAST ENOUGH. TWITTER, IT'S 00:03:30.043 --> 00:03:30.176 FAST ENOUGH. TWITTER, IT'S OWN 00:03:30.176 --> 00:03:30.243 FAST ENOUGH. TWITTER, IT'S OWN BIZARRE 00:03:30.243 --> 00:03:31.010 TWITTER, IT'S OWN BIZARRE 00:03:31.010 --> 00:03:31.477 TWITTER, IT'S OWN BIZARRE SURREAL 00:03:31.477 --> 00:03:31.511 TWITTER, IT'S OWN BIZARRE SURREAL UNIVERSE 00:03:31.511 --> 00:03:31.644 SURREAL UNIVERSE 00:03:31.644 --> 00:03:31.744 SURREAL UNIVERSE EACH 00:03:31.744 --> 00:03:32.011 SURREAL UNIVERSE EACH HAS 00:03:32.011 --> 00:03:32.312 SURREAL UNIVERSE EACH HAS ITS 00:03:32.312 --> 00:03:32.412 SURREAL UNIVERSE EACH HAS ITS OWN 00:03:32.412 --> 00:03:32.478 SURREAL UNIVERSE EACH HAS ITS OWN REASON 00:03:32.478 --> 00:03:33.012 SURREAL UNIVERSE EACH HAS ITS OWN REASON FOR 00:03:33.012 --> 00:03:33.179 SURREAL UNIVERSE EACH HAS ITS OWN REASON FOR THE 00:03:33.179 --> 00:03:33.813 EACH HAS ITS OWN REASON FOR THE 00:03:33.813 --> 00:03:35.748 EACH HAS ITS OWN REASON FOR THE PREDICAMENT 00:03:35.748 --> 00:03:35.882 EACH HAS ITS OWN REASON FOR THE PREDICAMENT IT'S 00:03:35.882 --> 00:03:35.915 EACH HAS ITS OWN REASON FOR THE PREDICAMENT IT'S IN. 00:03:35.915 --> 00:03:36.015 PREDICAMENT IT'S IN. 00:03:36.015 --> 00:03:36.082 PREDICAMENT IT'S IN. HOW 00:03:36.082 --> 00:03:36.149 PREDICAMENT IT'S IN. HOW DO 00:03:36.149 --> 00:03:36.216 PREDICAMENT IT'S IN. HOW DO YOU 00:03:36.216 --> 00:03:36.549 PREDICAMENT IT'S IN. HOW DO YOU SEE 00:03:36.549 --> 00:03:36.683 PREDICAMENT IT'S IN. HOW DO YOU SEE THEM 00:03:36.683 --> 00:03:36.783 PREDICAMENT IT'S IN. HOW DO YOU SEE THEM COMING 00:03:36.783 --> 00:03:36.816 PREDICAMENT IT'S IN. HOW DO YOU SEE THEM COMING OUT 00:03:36.816 --> 00:03:36.916 HOW DO YOU SEE THEM COMING OUT 00:03:36.916 --> 00:03:37.050 HOW DO YOU SEE THEM COMING OUT OF 00:03:37.050 --> 00:03:37.183 HOW DO YOU SEE THEM COMING OUT OF THIS 00:03:37.183 --> 00:03:38.718 HOW DO YOU SEE THEM COMING OUT OF THIS SERIES 00:03:38.718 --> 00:03:38.952 HOW DO YOU SEE THEM COMING OUT OF THIS SERIES OF 00:03:38.952 --> 00:03:38.985 HOW DO YOU SEE THEM COMING OUT OF THIS SERIES OF LAYOFFS? 00:03:38.985 --> 00:03:39.085 OF THIS SERIES OF LAYOFFS? 00:03:39.085 --> 00:03:39.319 OF THIS SERIES OF LAYOFFS? ARE 00:03:39.319 --> 00:03:39.452 OF THIS SERIES OF LAYOFFS? ARE THEY 00:03:39.452 --> 00:03:39.652 OF THIS SERIES OF LAYOFFS? ARE THEY GOING 00:03:39.652 --> 00:03:41.554 OF THIS SERIES OF LAYOFFS? ARE THEY GOING TO 00:03:41.554 --> 00:03:41.621 OF THIS SERIES OF LAYOFFS? ARE THEY GOING TO COME 00:03:41.621 --> 00:03:41.654 OF THIS SERIES OF LAYOFFS? ARE THEY GOING TO COME OUT 00:03:41.654 --> 00:03:41.688 OF THIS SERIES OF LAYOFFS? ARE THEY GOING TO COME OUT IN 00:03:41.688 --> 00:03:41.788 OF THIS SERIES OF LAYOFFS? ARE THEY GOING TO COME OUT IN A 00:03:41.788 --> 00:03:41.988 ARE THEY GOING TO COME OUT IN A 00:03:41.988 --> 00:03:42.088 ARE THEY GOING TO COME OUT IN A DIFFERENT 00:03:42.088 --> 00:03:42.222 ARE THEY GOING TO COME OUT IN A DIFFERENT ORDER 00:03:42.222 --> 00:03:42.455 ARE THEY GOING TO COME OUT IN A DIFFERENT ORDER OR 00:03:42.455 --> 00:03:42.488 ARE THEY GOING TO COME OUT IN A DIFFERENT ORDER OR PACE? 00:03:42.488 --> 00:03:42.589 DIFFERENT ORDER OR PACE? 00:03:42.589 --> 00:03:43.022 DIFFERENT ORDER OR PACE? >> 00:03:43.022 --> 00:03:43.223 DIFFERENT ORDER OR PACE? >> GOOD 00:03:43.223 --> 00:03:43.256 DIFFERENT ORDER OR PACE? >> GOOD POINT. 00:03:43.256 --> 00:03:43.456 >> GOOD POINT. 00:03:43.456 --> 00:03:43.623 >> GOOD POINT. THERE'S 00:03:43.623 --> 00:03:43.923 >> GOOD POINT. THERE'S TONS 00:03:43.923 --> 00:03:44.424 >> GOOD POINT. THERE'S TONS OF 00:03:44.424 --> 00:03:44.924 >> GOOD POINT. THERE'S TONS OF MICRO 00:03:44.924 --> 00:03:44.958 >> GOOD POINT. THERE'S TONS OF MICRO CLIMATES 00:03:44.958 --> 00:03:45.058 THERE'S TONS OF MICRO CLIMATES 00:03:45.058 --> 00:03:45.091 THERE'S TONS OF MICRO CLIMATES SO 00:03:45.091 --> 00:03:45.558 THERE'S TONS OF MICRO CLIMATES SO WE 00:03:45.558 --> 00:03:45.658 THERE'S TONS OF MICRO CLIMATES SO WE CAN'T 00:03:45.658 --> 00:03:45.758 THERE'S TONS OF MICRO CLIMATES SO WE CAN'T TAKE 00:03:45.758 --> 00:03:46.359 THERE'S TONS OF MICRO CLIMATES SO WE CAN'T TAKE A 00:03:46.359 --> 00:03:46.492 THERE'S TONS OF MICRO CLIMATES SO WE CAN'T TAKE A BROAD 00:03:46.492 --> 00:03:46.659 THERE'S TONS OF MICRO CLIMATES SO WE CAN'T TAKE A BROAD BRUSH, 00:03:46.659 --> 00:03:46.759 SO WE CAN'T TAKE A BROAD BRUSH, 00:03:46.759 --> 00:03:46.793 SO WE CAN'T TAKE A BROAD BRUSH, BUT 00:03:46.793 --> 00:03:46.993 SO WE CAN'T TAKE A BROAD BRUSH, BUT I 00:03:46.993 --> 00:03:47.060 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK 00:03:47.060 --> 00:03:47.126 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK WE 00:03:47.126 --> 00:03:47.293 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK WE CAN 00:03:47.293 --> 00:03:49.329 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK WE CAN TAKE 00:03:49.329 --> 00:03:49.429 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK WE CAN TAKE A 00:03:49.429 --> 00:03:49.529 SO WE CAN'T TAKE A BROAD BRUSH, BUT I THINK WE CAN TAKE A BRUSH 00:03:49.529 --> 00:03:49.629 BUT I THINK WE CAN TAKE A BRUSH 00:03:49.629 --> 00:03:51.497 BUT I THINK WE CAN TAKE A BRUSH ON 00:03:51.497 --> 00:03:51.731 BUT I THINK WE CAN TAKE A BRUSH ON THE 00:03:51.731 --> 00:03:51.798 BUT I THINK WE CAN TAKE A BRUSH ON THE OVEREXUBERANCE 00:03:51.798 --> 00:03:51.931 BUT I THINK WE CAN TAKE A BRUSH ON THE OVEREXUBERANCE OF 00:03:51.931 --> 00:03:52.298 BUT I THINK WE CAN TAKE A BRUSH ON THE OVEREXUBERANCE OF TECH 00:03:52.298 --> 00:03:52.332 BUT I THINK WE CAN TAKE A BRUSH ON THE OVEREXUBERANCE OF TECH IN 00:03:52.332 --> 00:03:52.432 ON THE OVEREXUBERANCE OF TECH IN 00:03:52.432 --> 00:03:53.099 ON THE OVEREXUBERANCE OF TECH IN THE 00:03:53.099 --> 00:03:53.399 ON THE OVEREXUBERANCE OF TECH IN THE PAST 00:03:53.399 --> 00:03:53.833 ON THE OVEREXUBERANCE OF TECH IN THE PAST TWO 00:03:53.833 --> 00:03:53.866 ON THE OVEREXUBERANCE OF TECH IN THE PAST TWO YEARS 00:03:53.866 --> 00:03:54.033 THE PAST TWO YEARS 00:03:54.033 --> 00:03:54.400 THE PAST TWO YEARS THERE'S 00:03:54.400 --> 00:03:56.502 THE PAST TWO YEARS THERE'S NO 00:03:56.502 --> 00:03:56.636 THE PAST TWO YEARS THERE'S NO DISPUTING 00:03:56.636 --> 00:03:56.703 THE PAST TWO YEARS THERE'S NO DISPUTING THAT. 00:03:56.703 --> 00:03:56.836 THERE'S NO DISPUTING THAT. 00:03:56.836 --> 00:03:56.869 THERE'S NO DISPUTING THAT. WHAT 00:03:56.869 --> 00:03:56.970 THERE'S NO DISPUTING THAT. WHAT I 00:03:56.970 --> 00:03:57.003 THERE'S NO DISPUTING THAT. WHAT I THINK 00:03:57.003 --> 00:03:57.103 THERE'S NO DISPUTING THAT. WHAT I THINK IS 00:03:57.103 --> 00:03:57.170 THERE'S NO DISPUTING THAT. WHAT I THINK IS GOING 00:03:57.170 --> 00:03:57.270 THERE'S NO DISPUTING THAT. WHAT I THINK IS GOING TO 00:03:57.270 --> 00:03:57.337 THERE'S NO DISPUTING THAT. WHAT I THINK IS GOING TO HAPPEN 00:03:57.337 --> 00:03:58.104 WHAT I THINK IS GOING TO HAPPEN 00:03:58.104 --> 00:03:58.171 WHAT I THINK IS GOING TO HAPPEN COMING 00:03:58.171 --> 00:03:58.371 WHAT I THINK IS GOING TO HAPPEN COMING OUT 00:03:58.371 --> 00:03:58.504 WHAT I THINK IS GOING TO HAPPEN COMING OUT OF 00:03:58.504 --> 00:03:58.771 WHAT I THINK IS GOING TO HAPPEN COMING OUT OF THIS 00:03:58.771 --> 00:03:58.871 WHAT I THINK IS GOING TO HAPPEN COMING OUT OF THIS IS 00:03:58.871 --> 00:03:59.038 WHAT I THINK IS GOING TO HAPPEN COMING OUT OF THIS IS THEY 00:03:59.038 --> 00:03:59.072 WHAT I THINK IS GOING TO HAPPEN COMING OUT OF THIS IS THEY ARE 00:03:59.072 --> 00:03:59.205 COMING OUT OF THIS IS THEY ARE 00:03:59.205 --> 00:03:59.272 COMING OUT OF THIS IS THEY ARE GOING 00:03:59.272 --> 00:03:59.439 COMING OUT OF THIS IS THEY ARE GOING TO 00:03:59.439 --> 00:03:59.839 COMING OUT OF THIS IS THEY ARE GOING TO BE 00:03:59.839 --> 00:04:03.576 COMING OUT OF THIS IS THEY ARE GOING TO BE STRONGER 00:04:03.576 --> 00:04:03.610 COMING OUT OF THIS IS THEY ARE GOING TO BE STRONGER COMPANIES 00:04:03.610 --> 00:04:04.844 GOING TO BE STRONGER COMPANIES 00:04:04.844 --> 00:04:04.911 GOING TO BE STRONGER COMPANIES AND 00:04:04.911 --> 00:04:05.111 GOING TO BE STRONGER COMPANIES AND ONE 00:04:05.111 --> 00:04:05.211 GOING TO BE STRONGER COMPANIES AND ONE SAID 00:04:05.211 --> 00:04:05.245 GOING TO BE STRONGER COMPANIES AND ONE SAID THIS, 00:04:05.245 --> 00:04:05.345 GOING TO BE STRONGER COMPANIES AND ONE SAID THIS, I 00:04:05.345 --> 00:04:05.745 GOING TO BE STRONGER COMPANIES AND ONE SAID THIS, I THINK 00:04:05.745 --> 00:04:05.778 GOING TO BE STRONGER COMPANIES AND ONE SAID THIS, I THINK WE'RE 00:04:05.778 --> 00:04:06.012 AND ONE SAID THIS, I THINK WE'RE 00:04:06.012 --> 00:04:06.212 AND ONE SAID THIS, I THINK WE'RE GOING 00:04:06.212 --> 00:04:06.546 AND ONE SAID THIS, I THINK WE'RE GOING TO 00:04:06.546 --> 00:04:06.879 AND ONE SAID THIS, I THINK WE'RE GOING TO COME 00:04:06.879 --> 00:04:07.213 AND ONE SAID THIS, I THINK WE'RE GOING TO COME OUT 00:04:07.213 --> 00:04:07.413 AND ONE SAID THIS, I THINK WE'RE GOING TO COME OUT AND 00:04:07.413 --> 00:04:07.680 AND ONE SAID THIS, I THINK WE'RE GOING TO COME OUT AND REALIZE 00:04:07.680 --> 00:04:07.714 AND ONE SAID THIS, I THINK WE'RE GOING TO COME OUT AND REALIZE WE 00:04:07.714 --> 00:04:07.880 GOING TO COME OUT AND REALIZE WE 00:04:07.880 --> 00:04:08.181 GOING TO COME OUT AND REALIZE WE DIDN'T 00:04:08.181 --> 00:04:08.314 GOING TO COME OUT AND REALIZE WE DIDN'T NEED 00:04:08.314 --> 00:04:08.548 GOING TO COME OUT AND REALIZE WE DIDN'T NEED AS 00:04:08.548 --> 00:04:08.681 GOING TO COME OUT AND REALIZE WE DIDN'T NEED AS MANY 00:04:08.681 --> 00:04:08.948 GOING TO COME OUT AND REALIZE WE DIDN'T NEED AS MANY PEOPLE 00:04:08.948 --> 00:04:08.982 GOING TO COME OUT AND REALIZE WE DIDN'T NEED AS MANY PEOPLE DOING 00:04:08.982 --> 00:04:09.515 DIDN'T NEED AS MANY PEOPLE DOING 00:04:09.515 --> 00:04:09.916 DIDN'T NEED AS MANY PEOPLE DOING THIS 00:04:09.916 --> 00:04:09.949 DIDN'T NEED AS MANY PEOPLE DOING THIS JOB 00:04:09.949 --> 00:04:10.049 THIS JOB 00:04:10.049 --> 00:04:10.250 THIS JOB WE 00:04:10.250 --> 00:04:10.483 THIS JOB WE CAN 00:04:10.483 --> 00:04:11.584 THIS JOB WE CAN BE 00:04:11.584 --> 00:04:11.851 THIS JOB WE CAN BE MORE 00:04:11.851 --> 00:04:11.884 THIS JOB WE CAN BE MORE EFFICIENT 00:04:11.884 --> 00:04:12.018 WE CAN BE MORE EFFICIENT 00:04:12.018 --> 00:04:13.987 WE CAN BE MORE EFFICIENT MANY 00:04:13.987 --> 00:04:14.120 WE CAN BE MORE EFFICIENT MANY HAVE 00:04:14.120 --> 00:04:17.757 WE CAN BE MORE EFFICIENT MANY HAVE TALKED 00:04:17.757 --> 00:04:17.790 WE CAN BE MORE EFFICIENT MANY HAVE TALKED ABOUT 00:04:17.790 --> 00:04:18.358 MANY HAVE TALKED ABOUT 00:04:18.358 --> 00:04:18.391 MANY HAVE TALKED ABOUT SALESFORCE.COM 00:04:18.391 --> 00:04:18.491 SALESFORCE.COM 00:04:18.491 --> 00:04:18.891 SALESFORCE.COM DO 00:04:18.891 --> 00:04:19.092 SALESFORCE.COM DO YOU 00:04:19.092 --> 00:04:19.292 SALESFORCE.COM DO YOU NEED 00:04:19.292 --> 00:04:19.692 SALESFORCE.COM DO YOU NEED AS 00:04:19.692 --> 00:04:19.826 SALESFORCE.COM DO YOU NEED AS MANY 00:04:19.826 --> 00:04:20.159 SALESFORCE.COM DO YOU NEED AS MANY SALES 00:04:20.159 --> 00:04:20.193 SALESFORCE.COM DO YOU NEED AS MANY SALES PEOPLE 00:04:20.193 --> 00:04:20.393 DO YOU NEED AS MANY SALES PEOPLE 00:04:20.393 --> 00:04:20.526 DO YOU NEED AS MANY SALES PEOPLE TO 00:04:20.526 --> 00:04:21.394 DO YOU NEED AS MANY SALES PEOPLE TO EXECUTE 00:04:21.394 --> 00:04:21.594 DO YOU NEED AS MANY SALES PEOPLE TO EXECUTE ON 00:04:21.594 --> 00:04:23.329 DO YOU NEED AS MANY SALES PEOPLE TO EXECUTE ON THE 00:04:23.329 --> 00:04:23.463 DO YOU NEED AS MANY SALES PEOPLE TO EXECUTE ON THE REVENUE 00:04:23.463 --> 00:04:23.529 DO YOU NEED AS MANY SALES PEOPLE TO EXECUTE ON THE REVENUE GOAL 00:04:23.529 --> 00:04:23.630 TO EXECUTE ON THE REVENUE GOAL 00:04:23.630 --> 00:04:23.696 TO EXECUTE ON THE REVENUE GOAL AND 00:04:23.696 --> 00:04:23.763 TO EXECUTE ON THE REVENUE GOAL AND IN 00:04:23.763 --> 00:04:23.830 TO EXECUTE ON THE REVENUE GOAL AND IN MANY 00:04:23.830 --> 00:04:24.731 TO EXECUTE ON THE REVENUE GOAL AND IN MANY OF 00:04:24.731 --> 00:04:24.897 TO EXECUTE ON THE REVENUE GOAL AND IN MANY OF THESE 00:04:24.897 --> 00:04:25.031 TO EXECUTE ON THE REVENUE GOAL AND IN MANY OF THESE COMPANIES, 00:04:25.031 --> 00:04:25.131 AND IN MANY OF THESE COMPANIES, 00:04:25.131 --> 00:04:25.465 AND IN MANY OF THESE COMPANIES, YOU 00:04:25.465 --> 00:04:26.099 AND IN MANY OF THESE COMPANIES, YOU CAN 00:04:26.099 --> 00:04:26.165 AND IN MANY OF THESE COMPANIES, YOU CAN HAVE 00:04:26.165 --> 00:04:26.532 AND IN MANY OF THESE COMPANIES, YOU CAN HAVE 10% 00:04:26.532 --> 00:04:26.933 AND IN MANY OF THESE COMPANIES, YOU CAN HAVE 10% LESS 00:04:26.933 --> 00:04:26.966 AND IN MANY OF THESE COMPANIES, YOU CAN HAVE 10% LESS CAPACITY 00:04:26.966 --> 00:04:27.066 YOU CAN HAVE 10% LESS CAPACITY 00:04:27.066 --> 00:04:27.166 YOU CAN HAVE 10% LESS CAPACITY AND 00:04:27.166 --> 00:04:27.300 YOU CAN HAVE 10% LESS CAPACITY AND STILL 00:04:27.300 --> 00:04:27.500 YOU CAN HAVE 10% LESS CAPACITY AND STILL DELIVER 00:04:27.500 --> 00:04:27.800 YOU CAN HAVE 10% LESS CAPACITY AND STILL DELIVER ON 00:04:27.800 --> 00:04:28.067 YOU CAN HAVE 10% LESS CAPACITY AND STILL DELIVER ON THE 00:04:28.067 --> 00:04:28.234 YOU CAN HAVE 10% LESS CAPACITY AND STILL DELIVER ON THE SAME 00:04:28.234 --> 00:04:28.401 AND STILL DELIVER ON THE SAME 00:04:28.401 --> 00:04:28.534 AND STILL DELIVER ON THE SAME REVENUE 00:04:28.534 --> 00:04:28.601 AND STILL DELIVER ON THE SAME REVENUE NUMBER 00:04:28.601 --> 00:04:29.502 AND STILL DELIVER ON THE SAME REVENUE NUMBER AND 00:04:29.502 --> 00:04:29.902 AND STILL DELIVER ON THE SAME REVENUE NUMBER AND THAT 00:04:29.902 --> 00:04:30.069 AND STILL DELIVER ON THE SAME REVENUE NUMBER AND THAT SHOWS 00:04:30.069 --> 00:04:30.169 REVENUE NUMBER AND THAT SHOWS 00:04:30.169 --> 00:04:30.236 REVENUE NUMBER AND THAT SHOWS YOU 00:04:30.236 --> 00:04:30.336 REVENUE NUMBER AND THAT SHOWS YOU HOW 00:04:30.336 --> 00:04:30.436 REVENUE NUMBER AND THAT SHOWS YOU HOW MUCH 00:04:30.436 --> 00:04:30.536 REVENUE NUMBER AND THAT SHOWS YOU HOW MUCH EXCESS 00:04:30.536 --> 00:04:30.937 REVENUE NUMBER AND THAT SHOWS YOU HOW MUCH EXCESS THERE 00:04:30.937 --> 00:04:30.970 REVENUE NUMBER AND THAT SHOWS YOU HOW MUCH EXCESS THERE WAS. 00:04:30.970 --> 00:04:31.170 YOU HOW MUCH EXCESS THERE WAS. 00:04:31.170 --> 00:04:31.704 YOU HOW MUCH EXCESS THERE WAS. I 00:04:31.704 --> 00:04:32.171 YOU HOW MUCH EXCESS THERE WAS. I MEAN, 00:04:32.171 --> 00:04:32.438 YOU HOW MUCH EXCESS THERE WAS. I MEAN, IT'S, 00:04:32.438 --> 00:04:32.739 YOU HOW MUCH EXCESS THERE WAS. I MEAN, IT'S, EVERYONE 00:04:32.739 --> 00:04:32.905 YOU HOW MUCH EXCESS THERE WAS. I MEAN, IT'S, EVERYONE IN 00:04:32.905 --> 00:04:33.072 I MEAN, IT'S, EVERYONE IN 00:04:33.072 --> 00:04:33.506 I MEAN, IT'S, EVERYONE IN SILICON 00:04:33.506 --> 00:04:34.007 I MEAN, IT'S, EVERYONE IN SILICON VALLEY 00:04:34.007 --> 00:04:34.607 I MEAN, IT'S, EVERYONE IN SILICON VALLEY KNOWS 00:04:34.607 --> 00:04:35.441 I MEAN, IT'S, EVERYONE IN SILICON VALLEY KNOWS THIS, 00:04:35.441 --> 00:04:35.608 I MEAN, IT'S, EVERYONE IN SILICON VALLEY KNOWS THIS, THAT 00:04:35.608 --> 00:04:35.808 SILICON VALLEY KNOWS THIS, THAT 00:04:35.808 --> 00:04:35.875 SILICON VALLEY KNOWS THIS, THAT BASICALLY 00:04:35.875 --> 00:04:36.576 SILICON VALLEY KNOWS THIS, THAT BASICALLY YOU 00:04:36.576 --> 00:04:36.643 SILICON VALLEY KNOWS THIS, THAT BASICALLY YOU KNOW, 00:04:36.643 --> 00:04:36.743 SILICON VALLEY KNOWS THIS, THAT BASICALLY YOU KNOW, 20% 00:04:36.743 --> 00:04:37.510 SILICON VALLEY KNOWS THIS, THAT BASICALLY YOU KNOW, 20% OF 00:04:37.510 --> 00:04:37.543 SILICON VALLEY KNOWS THIS, THAT BASICALLY YOU KNOW, 20% OF THE 00:04:37.543 --> 00:04:37.977 BASICALLY YOU KNOW, 20% OF THE 00:04:37.977 --> 00:04:38.011 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS 00:04:38.011 --> 00:04:38.077 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS DO 00:04:38.077 --> 00:04:38.544 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS DO 80% 00:04:38.544 --> 00:04:38.945 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS DO 80% OF 00:04:38.945 --> 00:04:39.445 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS DO 80% OF THE 00:04:39.445 --> 00:04:39.479 BASICALLY YOU KNOW, 20% OF THE DEVELOPERS DO 80% OF THE WORK. 00:04:39.479 --> 00:04:39.579 DEVELOPERS DO 80% OF THE WORK. 00:04:39.579 --> 00:04:39.646 DEVELOPERS DO 80% OF THE WORK. SO 00:04:39.646 --> 00:04:39.812 DEVELOPERS DO 80% OF THE WORK. SO YOU 00:04:39.812 --> 00:04:40.346 DEVELOPERS DO 80% OF THE WORK. SO YOU KNOW, 00:04:40.346 --> 00:04:41.314 DEVELOPERS DO 80% OF THE WORK. SO YOU KNOW, DO 00:04:41.314 --> 00:04:41.514 DEVELOPERS DO 80% OF THE WORK. SO YOU KNOW, DO YOU 00:04:41.514 --> 00:04:41.547 DEVELOPERS DO 80% OF THE WORK. SO YOU KNOW, DO YOU REALLY 00:04:41.547 --> 00:04:41.681 SO YOU KNOW, DO YOU REALLY 00:04:41.681 --> 00:04:41.714 SO YOU KNOW, DO YOU REALLY NEED 00:04:41.714 --> 00:04:41.781 SO YOU KNOW, DO YOU REALLY NEED -- 00:04:41.781 --> 00:04:41.881 NEED -- 00:04:41.881 --> 00:04:42.382 NEED -- >> 00:04:42.382 --> 00:04:42.849 NEED -- >> JUST 00:04:42.849 --> 00:04:43.349 NEED -- >> JUST FIGURING 00:04:43.349 --> 00:04:44.150 NEED -- >> JUST FIGURING OUT 00:04:44.150 --> 00:04:44.284 NEED -- >> JUST FIGURING OUT WHICH 00:04:44.284 --> 00:04:44.317 NEED -- >> JUST FIGURING OUT WHICH 20% 00:04:44.317 --> 00:04:44.417 >> JUST FIGURING OUT WHICH 20% 00:04:44.417 --> 00:04:44.617 >> JUST FIGURING OUT WHICH 20% ARE 00:04:44.617 --> 00:04:44.884 >> JUST FIGURING OUT WHICH 20% ARE DOING 00:04:44.884 --> 00:04:44.917 >> JUST FIGURING OUT WHICH 20% ARE DOING IT 00:04:44.917 --> 00:04:45.652 ARE DOING IT 00:04:45.652 --> 00:04:45.918 ARE DOING IT THAT'S 00:04:45.918 --> 00:04:46.319 ARE DOING IT THAT'S THE 00:04:46.319 --> 00:04:46.352 ARE DOING IT THAT'S THE CHALLENGE 00:04:46.352 --> 00:04:46.519 THAT'S THE CHALLENGE 00:04:46.519 --> 00:04:46.819 THAT'S THE CHALLENGE >> 00:04:46.819 --> 00:04:46.853 THAT'S THE CHALLENGE >> YEAH. 00:04:46.853 --> 00:04:47.186 >> YEAH. 00:04:47.186 --> 00:04:47.420 >> YEAH. >> 00:04:47.420 --> 00:04:47.553 >> YEAH. >> BRENT, 00:04:47.553 --> 00:04:48.621 >> YEAH. >> BRENT, IN 00:04:48.621 --> 00:04:49.022 >> YEAH. >> BRENT, IN ALL 00:04:49.022 --> 00:04:49.188 >> YEAH. >> BRENT, IN ALL SERIOUSNESS, 00:04:49.188 --> 00:04:49.656 >> BRENT, IN ALL SERIOUSNESS, 00:04:49.656 --> 00:04:53.126 >> BRENT, IN ALL SERIOUSNESS, WHAT'S 00:04:53.126 --> 00:04:53.293 >> BRENT, IN ALL SERIOUSNESS, WHAT'S YOUR 00:04:53.293 --> 00:04:53.826 >> BRENT, IN ALL SERIOUSNESS, WHAT'S YOUR FAVORITE 00:04:53.826 --> 00:04:53.860 >> BRENT, IN ALL SERIOUSNESS, WHAT'S YOUR FAVORITE STOCK 00:04:53.860 --> 00:04:54.027 WHAT'S YOUR FAVORITE STOCK 00:04:54.027 --> 00:04:54.160 WHAT'S YOUR FAVORITE STOCK >> 00:04:54.160 --> 00:04:55.161 WHAT'S YOUR FAVORITE STOCK >> INTO 00:04:55.161 --> 00:04:55.328 WHAT'S YOUR FAVORITE STOCK >> INTO NEXT 00:04:55.328 --> 00:04:55.762 WHAT'S YOUR FAVORITE STOCK >> INTO NEXT YEAR, 00:04:55.762 --> 00:04:56.462 WHAT'S YOUR FAVORITE STOCK >> INTO NEXT YEAR, I 00:04:56.462 --> 00:04:58.398 WHAT'S YOUR FAVORITE STOCK >> INTO NEXT YEAR, I LIKE 00:04:58.398 --> 00:04:58.564 >> INTO NEXT YEAR, I LIKE 00:04:58.564 --> 00:04:58.598 >> INTO NEXT YEAR, I LIKE INTUIT 00:04:58.598 --> 00:04:58.765 INTUIT 00:04:58.765 --> 00:04:58.865 INTUIT REALLY 00:04:58.865 --> 00:04:58.965 INTUIT REALLY GREAT 00:04:58.965 --> 00:04:59.832 INTUIT REALLY GREAT STORY 00:04:59.832 --> 00:04:59.966 INTUIT REALLY GREAT STORY IN 00:04:59.966 --> 00:05:00.366 INTUIT REALLY GREAT STORY IN TERMS 00:05:00.366 --> 00:05:00.400 INTUIT REALLY GREAT STORY IN TERMS OF 00:05:00.400 --> 00:05:00.533 REALLY GREAT STORY IN TERMS OF 00:05:00.533 --> 00:05:00.600 REALLY GREAT STORY IN TERMS OF FOCUS 00:05:00.600 --> 00:05:02.068 REALLY GREAT STORY IN TERMS OF FOCUS ON 00:05:02.068 --> 00:05:02.201 REALLY GREAT STORY IN TERMS OF FOCUS ON A 00:05:02.201 --> 00:05:02.502 REALLY GREAT STORY IN TERMS OF FOCUS ON A BUYBACK 00:05:02.502 --> 00:05:02.735 REALLY GREAT STORY IN TERMS OF FOCUS ON A BUYBACK AND 00:05:02.735 --> 00:05:04.937 REALLY GREAT STORY IN TERMS OF FOCUS ON A BUYBACK AND POST 00:05:04.937 --> 00:05:04.971 REALLY GREAT STORY IN TERMS OF FOCUS ON A BUYBACK AND POST THIS 00:05:04.971 --> 00:05:05.104 FOCUS ON A BUYBACK AND POST THIS 00:05:05.104 --> 00:05:05.171 FOCUS ON A BUYBACK AND POST THIS YEAR 00:05:05.171 --> 00:05:05.238 FOCUS ON A BUYBACK AND POST THIS YEAR HAS 00:05:05.238 --> 00:05:05.305 FOCUS ON A BUYBACK AND POST THIS YEAR HAS HAD 00:05:05.305 --> 00:05:05.371 FOCUS ON A BUYBACK AND POST THIS YEAR HAS HAD TEN 00:05:05.371 --> 00:05:05.471 FOCUS ON A BUYBACK AND POST THIS YEAR HAS HAD TEN PLUS 00:05:05.471 --> 00:05:05.605 FOCUS ON A BUYBACK AND POST THIS YEAR HAS HAD TEN PLUS YEARS 00:05:05.605 --> 00:05:05.638 FOCUS ON A BUYBACK AND POST THIS YEAR HAS HAD TEN PLUS YEARS OF 00:05:05.638 --> 00:05:05.805 YEAR HAS HAD TEN PLUS YEARS OF 00:05:05.805 --> 00:05:05.905 YEAR HAS HAD TEN PLUS YEARS OF DOUBLE 00:05:05.905 --> 00:05:06.506 YEAR HAS HAD TEN PLUS YEARS OF DOUBLE DIGIT 00:05:06.506 --> 00:05:06.639 YEAR HAS HAD TEN PLUS YEARS OF DOUBLE DIGIT OR 00:05:06.639 --> 00:05:07.440 YEAR HAS HAD TEN PLUS YEARS OF DOUBLE DIGIT OR SINGLE 00:05:07.440 --> 00:05:07.473 YEAR HAS HAD TEN PLUS YEARS OF DOUBLE DIGIT OR SINGLE DIGIT 00:05:07.473 --> 00:05:08.007 DOUBLE DIGIT OR SINGLE DIGIT 00:05:08.007 --> 00:05:08.041 DOUBLE DIGIT OR SINGLE DIGIT RETURNS. 00:05:08.041 --> 00:05:08.141 RETURNS. 00:05:08.141 --> 00:05:08.207 RETURNS. 80% 00:05:08.207 --> 00:05:08.708 RETURNS. 80% OF 00:05:08.708 --> 00:05:08.808 RETURNS. 80% OF THOSE 00:05:08.808 --> 00:05:08.875 RETURNS. 80% OF THOSE YEARS 00:05:08.875 --> 00:05:09.075 RETURNS. 80% OF THOSE YEARS HAVE 00:05:09.075 --> 00:05:09.108 RETURNS. 80% OF THOSE YEARS HAVE BEEN 00:05:09.108 --> 00:05:09.509 80% OF THOSE YEARS HAVE BEEN 00:05:09.509 --> 00:05:09.742 80% OF THOSE YEARS HAVE BEEN DOUBLE 00:05:09.742 --> 00:05:09.776 80% OF THOSE YEARS HAVE BEEN DOUBLE DIGIT 00:05:09.776 --> 00:05:09.876 DOUBLE DIGIT 00:05:09.876 --> 00:05:11.377 DOUBLE DIGIT SO