WEBVTT #Elemental Media Engine(TM) 2.17.1.0 00:00:02.335 --> 00:00:02.469 CAN 00:00:02.469 --> 00:00:02.569 CAN DEFEND 00:00:02.569 --> 00:00:02.635 CAN DEFEND THOSE 00:00:02.635 --> 00:00:02.669 CAN DEFEND THOSE BY, 00:00:02.669 --> 00:00:02.802 CAN DEFEND THOSE BY, OF 00:00:02.802 --> 00:00:03.069 CAN DEFEND THOSE BY, OF COURSE, 00:00:03.069 --> 00:00:03.169 CAN DEFEND THOSE BY, OF COURSE, BECOMING 00:00:03.169 --> 00:00:03.236 CAN DEFEND THOSE BY, OF COURSE, BECOMING LEANER 00:00:03.236 --> 00:00:03.303 CAN DEFEND THOSE BY, OF COURSE, BECOMING LEANER AT 00:00:03.303 --> 00:00:03.570 CAN DEFEND THOSE BY, OF COURSE, BECOMING LEANER AT THIS 00:00:03.570 --> 00:00:03.670 CAN DEFEND THOSE BY, OF COURSE, BECOMING LEANER AT THIS POINT. 00:00:03.670 --> 00:00:03.770 BECOMING LEANER AT THIS POINT. 00:00:03.770 --> 00:00:03.870 BECOMING LEANER AT THIS POINT. >> 00:00:03.870 --> 00:00:04.204 BECOMING LEANER AT THIS POINT. >> THAT 00:00:04.204 --> 00:00:04.738 BECOMING LEANER AT THIS POINT. >> THAT LEADS 00:00:04.738 --> 00:00:04.771 BECOMING LEANER AT THIS POINT. >> THAT LEADS US 00:00:04.771 --> 00:00:04.838 BECOMING LEANER AT THIS POINT. >> THAT LEADS US TO 00:00:04.838 --> 00:00:06.272 BECOMING LEANER AT THIS POINT. >> THAT LEADS US TO OUR 00:00:06.272 --> 00:00:06.306 BECOMING LEANER AT THIS POINT. >> THAT LEADS US TO OUR NEXT 00:00:06.306 --> 00:00:06.473 >> THAT LEADS US TO OUR NEXT 00:00:06.473 --> 00:00:06.506 >> THAT LEADS US TO OUR NEXT STORY. 00:00:06.506 --> 00:00:06.806 STORY. 00:00:06.806 --> 00:00:07.240 STORY. THANKS, 00:00:07.240 --> 00:00:07.440 STORY. THANKS, MIKE 00:00:07.440 --> 00:00:07.474 STORY. THANKS, MIKE SANTOLI 00:00:07.474 --> 00:00:07.607 THANKS, MIKE SANTOLI 00:00:07.607 --> 00:00:07.707 THANKS, MIKE SANTOLI META 00:00:07.707 --> 00:00:07.941 THANKS, MIKE SANTOLI META IS 00:00:07.941 --> 00:00:08.141 THANKS, MIKE SANTOLI META IS ONE 00:00:08.141 --> 00:00:08.475 THANKS, MIKE SANTOLI META IS ONE OF 00:00:08.475 --> 00:00:08.908 THANKS, MIKE SANTOLI META IS ONE OF THE 00:00:08.908 --> 00:00:09.175 THANKS, MIKE SANTOLI META IS ONE OF THE BIG 00:00:09.175 --> 00:00:09.209 THANKS, MIKE SANTOLI META IS ONE OF THE BIG GAINERS 00:00:09.209 --> 00:00:09.409 META IS ONE OF THE BIG GAINERS 00:00:09.409 --> 00:00:09.943 META IS ONE OF THE BIG GAINERS ON 00:00:09.943 --> 00:00:10.643 META IS ONE OF THE BIG GAINERS ON THE 00:00:10.643 --> 00:00:10.677 META IS ONE OF THE BIG GAINERS ON THE S&P 00:00:10.677 --> 00:00:10.810 ON THE S&P 00:00:10.810 --> 00:00:11.177 ON THE S&P AMID 00:00:11.177 --> 00:00:11.845 ON THE S&P AMID REPORTS 00:00:11.845 --> 00:00:12.112 ON THE S&P AMID REPORTS THE 00:00:12.112 --> 00:00:12.412 ON THE S&P AMID REPORTS THE COMPANY 00:00:12.412 --> 00:00:12.579 ON THE S&P AMID REPORTS THE COMPANY IS 00:00:12.579 --> 00:00:13.113 AMID REPORTS THE COMPANY IS 00:00:13.113 --> 00:00:13.380 AMID REPORTS THE COMPANY IS PLANNING 00:00:13.380 --> 00:00:13.613 AMID REPORTS THE COMPANY IS PLANNING LARGE-SCALE 00:00:13.613 --> 00:00:13.646 AMID REPORTS THE COMPANY IS PLANNING LARGE-SCALE LAYOFFS 00:00:13.646 --> 00:00:13.780 PLANNING LARGE-SCALE LAYOFFS 00:00:13.780 --> 00:00:13.880 PLANNING LARGE-SCALE LAYOFFS THIS 00:00:13.880 --> 00:00:14.014 PLANNING LARGE-SCALE LAYOFFS THIS WEEK 00:00:14.014 --> 00:00:14.581 PLANNING LARGE-SCALE LAYOFFS THIS WEEK AZTEC 00:00:14.581 --> 00:00:15.548 PLANNING LARGE-SCALE LAYOFFS THIS WEEK AZTEC NAMES 00:00:15.548 --> 00:00:15.782 PLANNING LARGE-SCALE LAYOFFS THIS WEEK AZTEC NAMES BIG 00:00:15.782 --> 00:00:15.949 PLANNING LARGE-SCALE LAYOFFS THIS WEEK AZTEC NAMES BIG AND 00:00:15.949 --> 00:00:16.116 THIS WEEK AZTEC NAMES BIG AND 00:00:16.116 --> 00:00:16.282 THIS WEEK AZTEC NAMES BIG AND SMALL 00:00:16.282 --> 00:00:16.383 THIS WEEK AZTEC NAMES BIG AND SMALL CONTINUE 00:00:16.383 --> 00:00:17.183 THIS WEEK AZTEC NAMES BIG AND SMALL CONTINUE TO 00:00:17.183 --> 00:00:17.417 THIS WEEK AZTEC NAMES BIG AND SMALL CONTINUE TO TIGHTEN 00:00:17.417 --> 00:00:17.584 THIS WEEK AZTEC NAMES BIG AND SMALL CONTINUE TO TIGHTEN THEIR 00:00:17.584 --> 00:00:17.817 SMALL CONTINUE TO TIGHTEN THEIR 00:00:17.817 --> 00:00:18.018 SMALL CONTINUE TO TIGHTEN THEIR BELT 00:00:18.018 --> 00:00:19.419 SMALL CONTINUE TO TIGHTEN THEIR BELT AMID 00:00:19.419 --> 00:00:20.253 SMALL CONTINUE TO TIGHTEN THEIR BELT AMID THE 00:00:20.253 --> 00:00:20.854 SMALL CONTINUE TO TIGHTEN THEIR BELT AMID THE ADVERTISING 00:00:20.854 --> 00:00:21.021 SMALL CONTINUE TO TIGHTEN THEIR BELT AMID THE ADVERTISING AND 00:00:21.021 --> 00:00:21.421 BELT AMID THE ADVERTISING AND 00:00:21.421 --> 00:00:21.755 BELT AMID THE ADVERTISING AND CONSUMER 00:00:21.755 --> 00:00:21.788 BELT AMID THE ADVERTISING AND CONSUMER SLOWDOWN. 00:00:21.788 --> 00:00:21.955 CONSUMER SLOWDOWN. 00:00:21.955 --> 00:00:22.389 CONSUMER SLOWDOWN. JOINING 00:00:22.389 --> 00:00:24.057 CONSUMER SLOWDOWN. JOINING US 00:00:24.057 --> 00:00:24.190 CONSUMER SLOWDOWN. JOINING US IS 00:00:24.190 --> 00:00:24.791 CONSUMER SLOWDOWN. JOINING US IS BRENT 00:00:24.791 --> 00:00:25.025 CONSUMER SLOWDOWN. JOINING US IS BRENT PHIL 00:00:25.025 --> 00:00:25.258 CONSUMER SLOWDOWN. JOINING US IS BRENT PHIL ON 00:00:25.258 --> 00:00:25.291 CONSUMER SLOWDOWN. JOINING US IS BRENT PHIL ON THIS 00:00:25.291 --> 00:00:25.425 JOINING US IS BRENT PHIL ON THIS 00:00:25.425 --> 00:00:25.492 JOINING US IS BRENT PHIL ON THIS META 00:00:25.492 --> 00:00:25.625 JOINING US IS BRENT PHIL ON THIS META BUY 00:00:25.625 --> 00:00:25.658 JOINING US IS BRENT PHIL ON THIS META BUY RATING. 00:00:25.658 --> 00:00:25.725 META BUY RATING. 00:00:25.725 --> 00:00:25.859 META BUY RATING. I 00:00:25.859 --> 00:00:25.925 META BUY RATING. I WONDER 00:00:25.925 --> 00:00:26.026 META BUY RATING. I WONDER WHAT 00:00:26.026 --> 00:00:26.426 META BUY RATING. I WONDER WHAT THIS 00:00:26.426 --> 00:00:27.127 META BUY RATING. I WONDER WHAT THIS NEWS, 00:00:27.127 --> 00:00:28.228 META BUY RATING. I WONDER WHAT THIS NEWS, IF 00:00:28.228 --> 00:00:28.261 META BUY RATING. I WONDER WHAT THIS NEWS, IF IT 00:00:28.261 --> 00:00:29.062 I WONDER WHAT THIS NEWS, IF IT 00:00:29.062 --> 00:00:29.429 I WONDER WHAT THIS NEWS, IF IT COMES, 00:00:29.429 --> 00:00:29.562 I WONDER WHAT THIS NEWS, IF IT COMES, WILL 00:00:29.562 --> 00:00:29.829 I WONDER WHAT THIS NEWS, IF IT COMES, WILL DO 00:00:29.829 --> 00:00:30.764 I WONDER WHAT THIS NEWS, IF IT COMES, WILL DO TO 00:00:30.764 --> 00:00:31.164 I WONDER WHAT THIS NEWS, IF IT COMES, WILL DO TO YOUR 00:00:31.164 --> 00:00:31.898 I WONDER WHAT THIS NEWS, IF IT COMES, WILL DO TO YOUR OPEX 00:00:31.898 --> 00:00:32.065 COMES, WILL DO TO YOUR OPEX 00:00:32.065 --> 00:00:32.098 COMES, WILL DO TO YOUR OPEX GUIDE. 00:00:32.098 --> 00:00:32.198 GUIDE. 00:00:32.198 --> 00:00:32.365 GUIDE. >> 00:00:32.365 --> 00:00:32.499 GUIDE. >> THEY 00:00:32.499 --> 00:00:32.899 GUIDE. >> THEY NEED 00:00:32.899 --> 00:00:34.367 GUIDE. >> THEY NEED TO 00:00:34.367 --> 00:00:34.834 GUIDE. >> THEY NEED TO MAKE 00:00:34.834 --> 00:00:35.235 GUIDE. >> THEY NEED TO MAKE THESE 00:00:35.235 --> 00:00:35.268 GUIDE. >> THEY NEED TO MAKE THESE CUTS. 00:00:35.268 --> 00:00:35.402 >> THEY NEED TO MAKE THESE CUTS. 00:00:35.402 --> 00:00:36.436 >> THEY NEED TO MAKE THESE CUTS. LAST 00:00:36.436 --> 00:00:36.669 >> THEY NEED TO MAKE THESE CUTS. LAST CALL 00:00:36.669 --> 00:00:37.070 >> THEY NEED TO MAKE THESE CUTS. LAST CALL ZUCKERBERG 00:00:37.070 --> 00:00:37.570 >> THEY NEED TO MAKE THESE CUTS. LAST CALL ZUCKERBERG SAID 00:00:37.570 --> 00:00:37.604 >> THEY NEED TO MAKE THESE CUTS. LAST CALL ZUCKERBERG SAID THEY 00:00:37.604 --> 00:00:37.737 LAST CALL ZUCKERBERG SAID THEY 00:00:37.737 --> 00:00:38.038 LAST CALL ZUCKERBERG SAID THEY HELD 00:00:38.038 --> 00:00:38.705 LAST CALL ZUCKERBERG SAID THEY HELD FLAT 00:00:38.705 --> 00:00:38.972 LAST CALL ZUCKERBERG SAID THEY HELD FLAT INTO 00:00:38.972 --> 00:00:39.005 LAST CALL ZUCKERBERG SAID THEY HELD FLAT INTO '23 00:00:39.005 --> 00:00:39.239 HELD FLAT INTO '23 00:00:39.239 --> 00:00:39.339 HELD FLAT INTO '23 OBVIOUSLY, 00:00:39.339 --> 00:00:39.472 HELD FLAT INTO '23 OBVIOUSLY, STOCK 00:00:39.472 --> 00:00:39.606 HELD FLAT INTO '23 OBVIOUSLY, STOCK HAS 00:00:39.606 --> 00:00:39.672 HELD FLAT INTO '23 OBVIOUSLY, STOCK HAS BEEN 00:00:39.672 --> 00:00:39.773 HELD FLAT INTO '23 OBVIOUSLY, STOCK HAS BEEN FOR 00:00:39.773 --> 00:00:39.906 OBVIOUSLY, STOCK HAS BEEN FOR 00:00:39.906 --> 00:00:41.007 OBVIOUSLY, STOCK HAS BEEN FOR SALE 00:00:41.007 --> 00:00:41.107 OBVIOUSLY, STOCK HAS BEEN FOR SALE EVER 00:00:41.107 --> 00:00:41.341 OBVIOUSLY, STOCK HAS BEEN FOR SALE EVER SINCE 00:00:41.341 --> 00:00:41.775 OBVIOUSLY, STOCK HAS BEEN FOR SALE EVER SINCE HE 00:00:41.775 --> 00:00:42.008 OBVIOUSLY, STOCK HAS BEEN FOR SALE EVER SINCE HE MADE 00:00:42.008 --> 00:00:42.042 OBVIOUSLY, STOCK HAS BEEN FOR SALE EVER SINCE HE MADE THAT 00:00:42.042 --> 00:00:42.208 SALE EVER SINCE HE MADE THAT 00:00:42.208 --> 00:00:43.009 SALE EVER SINCE HE MADE THAT COMMENT 00:00:43.009 --> 00:00:43.476 SALE EVER SINCE HE MADE THAT COMMENT AND 00:00:43.476 --> 00:00:44.577 SALE EVER SINCE HE MADE THAT COMMENT AND DROVE 00:00:44.577 --> 00:00:44.811 SALE EVER SINCE HE MADE THAT COMMENT AND DROVE HIS 00:00:44.811 --> 00:00:44.844 SALE EVER SINCE HE MADE THAT COMMENT AND DROVE HIS COMBINED 00:00:44.844 --> 00:00:46.513 COMMENT AND DROVE HIS COMBINED 00:00:46.513 --> 00:00:47.013 COMMENT AND DROVE HIS COMBINED OOCHLT 00:00:47.013 --> 00:00:47.147 COMMENT AND DROVE HIS COMBINED OOCHLT PEX 00:00:47.147 --> 00:00:47.313 COMMENT AND DROVE HIS COMBINED OOCHLT PEX AND 00:00:47.313 --> 00:00:47.547 COMMENT AND DROVE HIS COMBINED OOCHLT PEX AND CAPEX 00:00:47.547 --> 00:00:47.614 COMMENT AND DROVE HIS COMBINED OOCHLT PEX AND CAPEX UP 00:00:47.614 --> 00:00:47.714 COMMENT AND DROVE HIS COMBINED OOCHLT PEX AND CAPEX UP 130 00:00:47.714 --> 00:00:47.947 OOCHLT PEX AND CAPEX UP 130 00:00:47.947 --> 00:00:47.981 OOCHLT PEX AND CAPEX UP 130 BILLION. 00:00:47.981 --> 00:00:48.114 BILLION. 00:00:48.114 --> 00:00:48.248 BILLION. THESE 00:00:48.248 --> 00:00:48.348 BILLION. THESE GROWTH 00:00:48.348 --> 00:00:48.615 BILLION. THESE GROWTH RATES 00:00:48.615 --> 00:00:49.149 BILLION. THESE GROWTH RATES ARE 00:00:49.149 --> 00:00:49.182 BILLION. THESE GROWTH RATES ARE INSANE. 00:00:49.182 --> 00:00:49.315 THESE GROWTH RATES ARE INSANE. 00:00:49.315 --> 00:00:49.382 THESE GROWTH RATES ARE INSANE. WHEN 00:00:49.382 --> 00:00:49.549 THESE GROWTH RATES ARE INSANE. WHEN YOU 00:00:49.549 --> 00:00:49.816 THESE GROWTH RATES ARE INSANE. WHEN YOU LOOK 00:00:49.816 --> 00:00:49.916 THESE GROWTH RATES ARE INSANE. WHEN YOU LOOK AT 00:00:49.916 --> 00:00:50.483 THESE GROWTH RATES ARE INSANE. WHEN YOU LOOK AT THE 00:00:50.483 --> 00:00:50.517 THESE GROWTH RATES ARE INSANE. WHEN YOU LOOK AT THE EXPENSE 00:00:50.517 --> 00:00:50.683 WHEN YOU LOOK AT THE EXPENSE 00:00:50.683 --> 00:00:50.817 WHEN YOU LOOK AT THE EXPENSE GROWTH 00:00:50.817 --> 00:00:50.884 WHEN YOU LOOK AT THE EXPENSE GROWTH RELATIVE 00:00:50.884 --> 00:00:51.084 WHEN YOU LOOK AT THE EXPENSE GROWTH RELATIVE TO 00:00:51.084 --> 00:00:51.284 WHEN YOU LOOK AT THE EXPENSE GROWTH RELATIVE TO WHAT 00:00:51.284 --> 00:00:51.451 WHEN YOU LOOK AT THE EXPENSE GROWTH RELATIVE TO WHAT THE 00:00:51.451 --> 00:00:51.618 GROWTH RELATIVE TO WHAT THE 00:00:51.618 --> 00:00:52.152 GROWTH RELATIVE TO WHAT THE REVENUE 00:00:52.152 --> 00:00:52.485 GROWTH RELATIVE TO WHAT THE REVENUE GROWTH 00:00:52.485 --> 00:00:53.019 GROWTH RELATIVE TO WHAT THE REVENUE GROWTH WILL 00:00:53.019 --> 00:00:53.253 GROWTH RELATIVE TO WHAT THE REVENUE GROWTH WILL BE, 00:00:53.253 --> 00:00:53.520 GROWTH RELATIVE TO WHAT THE REVENUE GROWTH WILL BE, TECH 00:00:53.520 --> 00:00:53.686 GROWTH RELATIVE TO WHAT THE REVENUE GROWTH WILL BE, TECH IS 00:00:53.686 --> 00:00:54.988 REVENUE GROWTH WILL BE, TECH IS 00:00:54.988 --> 00:00:55.121 REVENUE GROWTH WILL BE, TECH IS DECELERATING 00:00:55.121 --> 00:00:55.388 REVENUE GROWTH WILL BE, TECH IS DECELERATING REVENUE 00:00:55.388 --> 00:00:55.655 REVENUE GROWTH WILL BE, TECH IS DECELERATING REVENUE BUT 00:00:55.655 --> 00:00:55.688 REVENUE GROWTH WILL BE, TECH IS DECELERATING REVENUE BUT WE'RE 00:00:55.688 --> 00:00:55.855 DECELERATING REVENUE BUT WE'RE 00:00:55.855 --> 00:00:55.889 DECELERATING REVENUE BUT WE'RE SEEING 00:00:55.889 --> 00:00:56.122 DECELERATING REVENUE BUT WE'RE SEEING AN 00:00:56.122 --> 00:00:56.256 DECELERATING REVENUE BUT WE'RE SEEING AN ACCELERATION 00:00:56.256 --> 00:00:56.556 DECELERATING REVENUE BUT WE'RE SEEING AN ACCELERATION OF 00:00:56.556 --> 00:00:56.756 SEEING AN ACCELERATION OF 00:00:56.756 --> 00:00:56.790 SEEING AN ACCELERATION OF EXPENSE. 00:00:56.790 --> 00:00:57.957 EXPENSE. 00:00:57.957 --> 00:00:57.991 EXPENSE. AND 00:00:57.991 --> 00:00:58.291 EXPENSE. AND I 00:00:58.291 --> 00:00:58.458 EXPENSE. AND I THINK 00:00:58.458 --> 00:00:59.025 EXPENSE. AND I THINK THAT 00:00:59.025 --> 00:00:59.526 EXPENSE. AND I THINK THAT WAS 00:00:59.526 --> 00:00:59.559 EXPENSE. AND I THINK THAT WAS THE 00:00:59.559 --> 00:00:59.793 AND I THINK THAT WAS THE 00:00:59.793 --> 00:00:59.826 AND I THINK THAT WAS THE DISCONNECT 00:00:59.826 --> 00:00:59.959 DISCONNECT 00:00:59.959 --> 00:00:59.993 DISCONNECT THIS 00:00:59.993 --> 00:01:00.060 DISCONNECT THIS IS 00:01:00.060 --> 00:01:00.126 DISCONNECT THIS IS -- 00:01:00.126 --> 00:01:00.827 DISCONNECT THIS IS -- IF 00:01:00.827 --> 00:01:01.261 DISCONNECT THIS IS -- IF THIS 00:01:01.261 --> 00:01:01.928 DISCONNECT THIS IS -- IF THIS HAPPENS, 00:01:01.928 --> 00:01:01.961 DISCONNECT THIS IS -- IF THIS HAPPENS, THIS 00:01:01.961 --> 00:01:02.062 THIS IS -- IF THIS HAPPENS, THIS 00:01:02.062 --> 00:01:02.128 THIS IS -- IF THIS HAPPENS, THIS IS 00:01:02.128 --> 00:01:02.562 THIS IS -- IF THIS HAPPENS, THIS IS GOOD 00:01:02.562 --> 00:01:02.595 THIS IS -- IF THIS HAPPENS, THIS IS GOOD NEWS 00:01:02.595 --> 00:01:02.762 IS GOOD NEWS 00:01:02.762 --> 00:01:03.029 IS GOOD NEWS THEY'VE 00:01:03.029 --> 00:01:03.430 IS GOOD NEWS THEY'VE ADDED 00:01:03.430 --> 00:01:03.830 IS GOOD NEWS THEY'VE ADDED 10,000 00:01:03.830 --> 00:01:03.863 IS GOOD NEWS THEY'VE ADDED 10,000 EMPLOYEES 00:01:03.863 --> 00:01:03.997 THEY'VE ADDED 10,000 EMPLOYEES 00:01:03.997 --> 00:01:04.064 THEY'VE ADDED 10,000 EMPLOYEES SINCE 00:01:04.064 --> 00:01:04.297 THEY'VE ADDED 10,000 EMPLOYEES SINCE THE 00:01:04.297 --> 00:01:04.597 THEY'VE ADDED 10,000 EMPLOYEES SINCE THE BEGINNING 00:01:04.597 --> 00:01:04.798 THEY'VE ADDED 10,000 EMPLOYEES SINCE THE BEGINNING OF 00:01:04.798 --> 00:01:05.665 THEY'VE ADDED 10,000 EMPLOYEES SINCE THE BEGINNING OF THE 00:01:05.665 --> 00:01:05.832 THEY'VE ADDED 10,000 EMPLOYEES SINCE THE BEGINNING OF THE YEAR 00:01:05.832 --> 00:01:06.066 SINCE THE BEGINNING OF THE YEAR 00:01:06.066 --> 00:01:06.199 SINCE THE BEGINNING OF THE YEAR INTO 00:01:06.199 --> 00:01:06.566 SINCE THE BEGINNING OF THE YEAR INTO THE 00:01:06.566 --> 00:01:10.003 SINCE THE BEGINNING OF THE YEAR INTO THE FACE 00:01:10.003 --> 00:01:10.070 SINCE THE BEGINNING OF THE YEAR INTO THE FACE OF 00:01:10.070 --> 00:01:10.236 SINCE THE BEGINNING OF THE YEAR INTO THE FACE OF A 00:01:10.236 --> 00:01:10.637 SINCE THE BEGINNING OF THE YEAR INTO THE FACE OF A RECESSION 00:01:10.637 --> 00:01:10.970 SINCE THE BEGINNING OF THE YEAR INTO THE FACE OF A RECESSION IN 00:01:10.970 --> 00:01:11.137 INTO THE FACE OF A RECESSION IN 00:01:11.137 --> 00:01:11.171 INTO THE FACE OF A RECESSION IN '23. 00:01:11.171 --> 00:01:11.271 '23. 00:01:11.271 --> 00:01:11.304 '23. SO, 00:01:11.304 --> 00:01:11.404 '23. SO, I 00:01:11.404 --> 00:01:11.638 '23. SO, I THINK 00:01:11.638 --> 00:01:11.771 '23. SO, I THINK EVERYONE 00:01:11.771 --> 00:01:11.905 '23. SO, I THINK EVERYONE HAS 00:01:11.905 --> 00:01:11.938 '23. SO, I THINK EVERYONE HAS A 00:01:11.938 --> 00:01:12.138 SO, I THINK EVERYONE HAS A 00:01:12.138 --> 00:01:12.205 SO, I THINK EVERYONE HAS A LITTLE 00:01:12.205 --> 00:01:12.639 SO, I THINK EVERYONE HAS A LITTLE BIT 00:01:12.639 --> 00:01:12.739 SO, I THINK EVERYONE HAS A LITTLE BIT OF 00:01:12.739 --> 00:01:13.373 SO, I THINK EVERYONE HAS A LITTLE BIT OF A 00:01:13.373 --> 00:01:13.406 SO, I THINK EVERYONE HAS A LITTLE BIT OF A HEAD-SCRATCHER 00:01:13.406 --> 00:01:13.540 LITTLE BIT OF A HEAD-SCRATCHER 00:01:13.540 --> 00:01:13.606 LITTLE BIT OF A HEAD-SCRATCHER THEY 00:01:13.606 --> 00:01:13.873 LITTLE BIT OF A HEAD-SCRATCHER THEY NEED 00:01:13.873 --> 00:01:14.140 LITTLE BIT OF A HEAD-SCRATCHER THEY NEED TO 00:01:14.140 --> 00:01:14.307 LITTLE BIT OF A HEAD-SCRATCHER THEY NEED TO MAKE 00:01:14.307 --> 00:01:14.474 LITTLE BIT OF A HEAD-SCRATCHER THEY NEED TO MAKE THESE 00:01:14.474 --> 00:01:14.641 LITTLE BIT OF A HEAD-SCRATCHER THEY NEED TO MAKE THESE ACTIONS 00:01:14.641 --> 00:01:15.542 THEY NEED TO MAKE THESE ACTIONS 00:01:15.542 --> 00:01:15.675 THEY NEED TO MAKE THESE ACTIONS AND 00:01:15.675 --> 00:01:16.209 THEY NEED TO MAKE THESE ACTIONS AND IT'S 00:01:16.209 --> 00:01:16.409 THEY NEED TO MAKE THESE ACTIONS AND IT'S COUNTER 00:01:16.409 --> 00:01:16.643 THEY NEED TO MAKE THESE ACTIONS AND IT'S COUNTER TO 00:01:16.643 --> 00:01:17.377 THEY NEED TO MAKE THESE ACTIONS AND IT'S COUNTER TO WHAT 00:01:17.377 --> 00:01:17.544 THEY NEED TO MAKE THESE ACTIONS AND IT'S COUNTER TO WHAT THEY 00:01:17.544 --> 00:01:17.677 AND IT'S COUNTER TO WHAT THEY 00:01:17.677 --> 00:01:17.710 AND IT'S COUNTER TO WHAT THEY SAID 00:01:17.710 --> 00:01:17.811 AND IT'S COUNTER TO WHAT THEY SAID ON 00:01:17.811 --> 00:01:18.278 AND IT'S COUNTER TO WHAT THEY SAID ON THEIR 00:01:18.278 --> 00:01:18.411 AND IT'S COUNTER TO WHAT THEY SAID ON THEIR CALL, 00:01:18.411 --> 00:01:18.778 AND IT'S COUNTER TO WHAT THEY SAID ON THEIR CALL, HOLDING 00:01:18.778 --> 00:01:18.812 AND IT'S COUNTER TO WHAT THEY SAID ON THEIR CALL, HOLDING HEAD 00:01:18.812 --> 00:01:18.945 SAID ON THEIR CALL, HOLDING HEAD 00:01:18.945 --> 00:01:19.813 SAID ON THEIR CALL, HOLDING HEAD COUNT 00:01:19.813 --> 00:01:19.946 SAID ON THEIR CALL, HOLDING HEAD COUNT FLAT. 00:01:19.946 --> 00:01:20.113 COUNT FLAT. 00:01:20.113 --> 00:01:20.647 COUNT FLAT. >> 00:01:20.647 --> 00:01:21.014 COUNT FLAT. >> YOU 00:01:21.014 --> 00:01:21.381 COUNT FLAT. >> YOU DON'T 00:01:21.381 --> 00:01:21.414 COUNT FLAT. >> YOU DON'T THINK 00:01:21.414 --> 00:01:21.514 COUNT FLAT. >> YOU DON'T THINK IT 00:01:21.514 --> 00:01:21.581 COUNT FLAT. >> YOU DON'T THINK IT WOULD 00:01:21.581 --> 00:01:21.781 COUNT FLAT. >> YOU DON'T THINK IT WOULD BE 00:01:21.781 --> 00:01:21.815 COUNT FLAT. >> YOU DON'T THINK IT WOULD BE A 00:01:21.815 --> 00:01:21.981 >> YOU DON'T THINK IT WOULD BE A 00:01:21.981 --> 00:01:23.550 >> YOU DON'T THINK IT WOULD BE A COMPANY 00:01:23.550 --> 00:01:23.950 >> YOU DON'T THINK IT WOULD BE A COMPANY BY 00:01:23.950 --> 00:01:24.117 >> YOU DON'T THINK IT WOULD BE A COMPANY BY SOME 00:01:24.117 --> 00:01:24.317 >> YOU DON'T THINK IT WOULD BE A COMPANY BY SOME CAPEX 00:01:24.317 --> 00:01:24.350 >> YOU DON'T THINK IT WOULD BE A COMPANY BY SOME CAPEX CUTS 00:01:24.350 --> 00:01:24.717 >> YOU DON'T THINK IT WOULD BE A COMPANY BY SOME CAPEX CUTS AS 00:01:24.717 --> 00:01:24.851 COMPANY BY SOME CAPEX CUTS AS 00:01:24.851 --> 00:01:25.452 COMPANY BY SOME CAPEX CUTS AS WELL, 00:01:25.452 --> 00:01:25.852 COMPANY BY SOME CAPEX CUTS AS WELL, DO 00:01:25.852 --> 00:01:25.885 COMPANY BY SOME CAPEX CUTS AS WELL, DO YOU 00:01:25.885 --> 00:01:25.985 WELL, DO YOU 00:01:25.985 --> 00:01:26.119 WELL, DO YOU >> 00:01:26.119 --> 00:01:26.453 WELL, DO YOU >> THEY 00:01:26.453 --> 00:01:26.686 WELL, DO YOU >> THEY WERE 00:01:26.686 --> 00:01:26.920 WELL, DO YOU >> THEY WERE PRETTY 00:01:26.920 --> 00:01:27.253 WELL, DO YOU >> THEY WERE PRETTY CLEAR 00:01:27.253 --> 00:01:27.420 WELL, DO YOU >> THEY WERE PRETTY CLEAR THE 00:01:27.420 --> 00:01:27.554 >> THEY WERE PRETTY CLEAR THE 00:01:27.554 --> 00:01:27.821 >> THEY WERE PRETTY CLEAR THE CAPEX 00:01:27.821 --> 00:01:28.088 >> THEY WERE PRETTY CLEAR THE CAPEX HAS 00:01:28.088 --> 00:01:28.354 >> THEY WERE PRETTY CLEAR THE CAPEX HAS TO 00:01:28.354 --> 00:01:28.455 >> THEY WERE PRETTY CLEAR THE CAPEX HAS TO BE 00:01:28.455 --> 00:01:28.721 >> THEY WERE PRETTY CLEAR THE CAPEX HAS TO BE THERE 00:01:28.721 --> 00:01:28.822 >> THEY WERE PRETTY CLEAR THE CAPEX HAS TO BE THERE FOR 00:01:28.822 --> 00:01:28.988 >> THEY WERE PRETTY CLEAR THE CAPEX HAS TO BE THERE FOR THE 00:01:28.988 --> 00:01:30.857 CAPEX HAS TO BE THERE FOR THE 00:01:30.857 --> 00:01:31.257 CAPEX HAS TO BE THERE FOR THE INFUSION 00:01:31.257 --> 00:01:31.491 CAPEX HAS TO BE THERE FOR THE INFUSION OF 00:01:31.491 --> 00:01:31.658 CAPEX HAS TO BE THERE FOR THE INFUSION OF AI 00:01:31.658 --> 00:01:31.858 CAPEX HAS TO BE THERE FOR THE INFUSION OF AI THROUGHOUT 00:01:31.858 --> 00:01:33.460 CAPEX HAS TO BE THERE FOR THE INFUSION OF AI THROUGHOUT THEIR 00:01:33.460 --> 00:01:33.793 INFUSION OF AI THROUGHOUT THEIR 00:01:33.793 --> 00:01:33.827 INFUSION OF AI THROUGHOUT THEIR PLATFORMS. 00:01:33.827 --> 00:01:33.927 PLATFORMS. 00:01:33.927 --> 00:01:33.960 PLATFORMS. SO 00:01:33.960 --> 00:01:34.060 PLATFORMS. SO I 00:01:34.060 --> 00:01:34.394 PLATFORMS. SO I THINK 00:01:34.394 --> 00:01:34.861 PLATFORMS. SO I THINK CAPEX 00:01:34.861 --> 00:01:34.994 PLATFORMS. SO I THINK CAPEX FEELS 00:01:34.994 --> 00:01:35.395 PLATFORMS. SO I THINK CAPEX FEELS LIKE 00:01:35.395 --> 00:01:35.428 PLATFORMS. SO I THINK CAPEX FEELS LIKE THEY 00:01:35.428 --> 00:01:35.562 SO I THINK CAPEX FEELS LIKE THEY 00:01:35.562 --> 00:01:35.862 SO I THINK CAPEX FEELS LIKE THEY WANT 00:01:35.862 --> 00:01:37.464 SO I THINK CAPEX FEELS LIKE THEY WANT TO 00:01:37.464 --> 00:01:37.497 SO I THINK CAPEX FEELS LIKE THEY WANT TO SPEND. 00:01:37.497 --> 00:01:37.630 WANT TO SPEND. 00:01:37.630 --> 00:01:37.764 WANT TO SPEND. THEY 00:01:37.764 --> 00:01:37.864 WANT TO SPEND. THEY ALWAYS 00:01:37.864 --> 00:01:37.997 WANT TO SPEND. THEY ALWAYS GIVE 00:01:37.997 --> 00:01:38.198 WANT TO SPEND. THEY ALWAYS GIVE A 00:01:38.198 --> 00:01:38.331 WANT TO SPEND. THEY ALWAYS GIVE A CONSERVATIVE 00:01:38.331 --> 00:01:38.465 THEY ALWAYS GIVE A CONSERVATIVE 00:01:38.465 --> 00:01:38.531 THEY ALWAYS GIVE A CONSERVATIVE GUIDE 00:01:38.531 --> 00:01:38.698 THEY ALWAYS GIVE A CONSERVATIVE GUIDE AND 00:01:38.698 --> 00:01:38.932 THEY ALWAYS GIVE A CONSERVATIVE GUIDE AND TEND 00:01:38.932 --> 00:01:39.165 THEY ALWAYS GIVE A CONSERVATIVE GUIDE AND TEND TO 00:01:39.165 --> 00:01:39.466 THEY ALWAYS GIVE A CONSERVATIVE GUIDE AND TEND TO BEAT 00:01:39.466 --> 00:01:39.632 THEY ALWAYS GIVE A CONSERVATIVE GUIDE AND TEND TO BEAT IT 00:01:39.632 --> 00:01:39.866 GUIDE AND TEND TO BEAT IT 00:01:39.866 --> 00:01:40.033 GUIDE AND TEND TO BEAT IT THROUGHOUT 00:01:40.033 --> 00:01:40.133 GUIDE AND TEND TO BEAT IT THROUGHOUT THE 00:01:40.133 --> 00:01:40.567 GUIDE AND TEND TO BEAT IT THROUGHOUT THE YEAR, 00:01:40.567 --> 00:01:40.600 GUIDE AND TEND TO BEAT IT THROUGHOUT THE YEAR, BUT 00:01:40.600 --> 00:01:40.900 GUIDE AND TEND TO BEAT IT THROUGHOUT THE YEAR, BUT I 00:01:40.900 --> 00:01:40.934 GUIDE AND TEND TO BEAT IT THROUGHOUT THE YEAR, BUT I THINK 00:01:40.934 --> 00:01:41.101 THROUGHOUT THE YEAR, BUT I THINK 00:01:41.101 --> 00:01:41.201 THROUGHOUT THE YEAR, BUT I THINK THEY'RE 00:01:41.201 --> 00:01:41.434 THROUGHOUT THE YEAR, BUT I THINK THEY'RE CLEAR 00:01:41.434 --> 00:01:41.534 THROUGHOUT THE YEAR, BUT I THINK THEY'RE CLEAR THEY 00:01:41.534 --> 00:01:41.801 THROUGHOUT THE YEAR, BUT I THINK THEY'RE CLEAR THEY NEED 00:01:41.801 --> 00:01:42.135 THROUGHOUT THE YEAR, BUT I THINK THEY'RE CLEAR THEY NEED TO 00:01:42.135 --> 00:01:42.168 THROUGHOUT THE YEAR, BUT I THINK THEY'RE CLEAR THEY NEED TO SPEND 00:01:42.168 --> 00:01:42.302 THEY'RE CLEAR THEY NEED TO SPEND 00:01:42.302 --> 00:01:43.636 THEY'RE CLEAR THEY NEED TO SPEND THIS 00:01:43.636 --> 00:01:43.970 THEY'RE CLEAR THEY NEED TO SPEND THIS FOR 00:01:43.970 --> 00:01:44.104 THEY'RE CLEAR THEY NEED TO SPEND THIS FOR THE 00:01:44.104 --> 00:01:44.370 THEY'RE CLEAR THEY NEED TO SPEND THIS FOR THE NEXT 00:01:44.370 --> 00:01:44.504 THEY'RE CLEAR THEY NEED TO SPEND THIS FOR THE NEXT GENERATION 00:01:44.504 --> 00:01:44.671 THEY'RE CLEAR THEY NEED TO SPEND THIS FOR THE NEXT GENERATION OF 00:01:44.671 --> 00:01:44.971 THIS FOR THE NEXT GENERATION OF 00:01:44.971 --> 00:01:45.405 THIS FOR THE NEXT GENERATION OF THE 00:01:45.405 --> 00:01:45.605 THIS FOR THE NEXT GENERATION OF THE PLATFORM 00:01:45.605 --> 00:01:45.805 THIS FOR THE NEXT GENERATION OF THE PLATFORM TO 00:01:45.805 --> 00:01:46.339 THIS FOR THE NEXT GENERATION OF THE PLATFORM TO FIGHT 00:01:46.339 --> 00:01:48.575 THIS FOR THE NEXT GENERATION OF THE PLATFORM TO FIGHT TIKTOK, 00:01:48.575 --> 00:01:48.608 THIS FOR THE NEXT GENERATION OF THE PLATFORM TO FIGHT TIKTOK, TO 00:01:48.608 --> 00:01:48.741 THE PLATFORM TO FIGHT TIKTOK, TO 00:01:48.741 --> 00:01:48.808 THE PLATFORM TO FIGHT TIKTOK, TO BUILD 00:01:48.808 --> 00:01:49.142 THE PLATFORM TO FIGHT TIKTOK, TO BUILD THE 00:01:49.142 --> 00:01:49.409 THE PLATFORM TO FIGHT TIKTOK, TO BUILD THE NEXT 00:01:49.409 --> 00:01:50.009 THE PLATFORM TO FIGHT TIKTOK, TO BUILD THE NEXT ON-RAMP 00:01:50.009 --> 00:01:50.043 THE PLATFORM TO FIGHT TIKTOK, TO BUILD THE NEXT ON-RAMP FOR 00:01:50.043 --> 00:01:50.510 BUILD THE NEXT ON-RAMP FOR 00:01:50.510 --> 00:01:50.543 BUILD THE NEXT ON-RAMP FOR ADVERTISERS. 00:01:50.543 --> 00:01:50.643 ADVERTISERS. 00:01:50.643 --> 00:01:51.010 ADVERTISERS. SO 00:01:51.010 --> 00:01:51.611 ADVERTISERS. SO THAT, 00:01:51.611 --> 00:01:52.145 ADVERTISERS. SO THAT, I 00:01:52.145 --> 00:01:52.212 ADVERTISERS. SO THAT, I FEEL, 00:01:52.212 --> 00:01:52.412 ADVERTISERS. SO THAT, I FEEL, MAY 00:01:52.412 --> 00:01:53.046 ADVERTISERS. SO THAT, I FEEL, MAY BE 00:01:53.046 --> 00:01:53.079 ADVERTISERS. SO THAT, I FEEL, MAY BE LESS 00:01:53.079 --> 00:01:53.346 SO THAT, I FEEL, MAY BE LESS 00:01:53.346 --> 00:01:53.646 SO THAT, I FEEL, MAY BE LESS CONVINCED 00:01:53.646 --> 00:01:53.746 SO THAT, I FEEL, MAY BE LESS CONVINCED IT'S 00:01:53.746 --> 00:01:53.913 SO THAT, I FEEL, MAY BE LESS CONVINCED IT'S GOING 00:01:53.913 --> 00:01:54.314 SO THAT, I FEEL, MAY BE LESS CONVINCED IT'S GOING TO 00:01:54.314 --> 00:01:54.347 SO THAT, I FEEL, MAY BE LESS CONVINCED IT'S GOING TO COME 00:01:54.347 --> 00:01:54.481 CONVINCED IT'S GOING TO COME 00:01:54.481 --> 00:01:54.647 CONVINCED IT'S GOING TO COME DOWN 00:01:54.647 --> 00:01:54.781 CONVINCED IT'S GOING TO COME DOWN MATERIALLY 00:01:54.781 --> 00:01:54.914 CONVINCED IT'S GOING TO COME DOWN MATERIALLY GIVEN 00:01:54.914 --> 00:01:55.081 CONVINCED IT'S GOING TO COME DOWN MATERIALLY GIVEN THE 00:01:55.081 --> 00:01:55.315 DOWN MATERIALLY GIVEN THE 00:01:55.315 --> 00:01:55.415 DOWN MATERIALLY GIVEN THE CONVICTION 00:01:55.415 --> 00:01:55.782 DOWN MATERIALLY GIVEN THE CONVICTION LEVEL 00:01:55.782 --> 00:01:56.316 DOWN MATERIALLY GIVEN THE CONVICTION LEVEL THEY 00:01:56.316 --> 00:01:56.649 DOWN MATERIALLY GIVEN THE CONVICTION LEVEL THEY HAD 00:01:56.649 --> 00:01:57.750 DOWN MATERIALLY GIVEN THE CONVICTION LEVEL THEY HAD IN 00:01:57.750 --> 00:01:57.784 DOWN MATERIALLY GIVEN THE CONVICTION LEVEL THEY HAD IN THE 00:01:57.784 --> 00:01:57.951 CONVICTION LEVEL THEY HAD IN THE 00:01:57.951 --> 00:01:58.751 CONVICTION LEVEL THEY HAD IN THE NEW 00:01:58.751 --> 00:01:59.152 CONVICTION LEVEL THEY HAD IN THE NEW AI 00:01:59.152 --> 00:01:59.686 CONVICTION LEVEL THEY HAD IN THE NEW AI CLUSTERS 00:01:59.686 --> 00:02:00.320 CONVICTION LEVEL THEY HAD IN THE NEW AI CLUSTERS THEY'RE 00:02:00.320 --> 00:02:00.520 NEW AI CLUSTERS THEY'RE 00:02:00.520 --> 00:02:00.553 NEW AI CLUSTERS THEY'RE BUILDING 00:02:00.553 --> 00:02:00.687 BUILDING 00:02:00.687 --> 00:02:00.820 BUILDING FROM 00:02:00.820 --> 00:02:01.588 BUILDING FROM AN 00:02:01.588 --> 00:02:01.955 BUILDING FROM AN OPEX 00:02:01.955 --> 00:02:02.122 BUILDING FROM AN OPEX PERSPECTIVE, 00:02:02.122 --> 00:02:02.288 FROM AN OPEX PERSPECTIVE, 00:02:02.288 --> 00:02:02.355 FROM AN OPEX PERSPECTIVE, THERE'S 00:02:02.355 --> 00:02:02.455 FROM AN OPEX PERSPECTIVE, THERE'S NO 00:02:02.455 --> 00:02:02.655 FROM AN OPEX PERSPECTIVE, THERE'S NO REASON 00:02:02.655 --> 00:02:02.889 FROM AN OPEX PERSPECTIVE, THERE'S NO REASON TO 00:02:02.889 --> 00:02:03.056 FROM AN OPEX PERSPECTIVE, THERE'S NO REASON TO RAMP 00:02:03.056 --> 00:02:03.223 FROM AN OPEX PERSPECTIVE, THERE'S NO REASON TO RAMP THE 00:02:03.223 --> 00:02:03.356 THERE'S NO REASON TO RAMP THE 00:02:03.356 --> 00:02:03.590 THERE'S NO REASON TO RAMP THE HEAD 00:02:03.590 --> 00:02:03.890 THERE'S NO REASON TO RAMP THE HEAD COUNT 00:02:03.890 --> 00:02:04.023 THERE'S NO REASON TO RAMP THE HEAD COUNT AND 00:02:04.023 --> 00:02:04.457 THERE'S NO REASON TO RAMP THE HEAD COUNT AND SOME 00:02:04.457 --> 00:02:04.991 THERE'S NO REASON TO RAMP THE HEAD COUNT AND SOME OF 00:02:04.991 --> 00:02:05.024 THERE'S NO REASON TO RAMP THE HEAD COUNT AND SOME OF THE 00:02:05.024 --> 00:02:05.291 HEAD COUNT AND SOME OF THE 00:02:05.291 --> 00:02:05.492 HEAD COUNT AND SOME OF THE DISCRETIONARY 00:02:05.492 --> 00:02:05.525 HEAD COUNT AND SOME OF THE DISCRETIONARY EXPENSES 00:02:05.525 --> 00:02:05.658 DISCRETIONARY EXPENSES 00:02:05.658 --> 00:02:05.859 DISCRETIONARY EXPENSES THEY 00:02:05.859 --> 00:02:06.059 DISCRETIONARY EXPENSES THEY CAN 00:02:06.059 --> 00:02:07.527 DISCRETIONARY EXPENSES THEY CAN CUT 00:02:07.527 --> 00:02:07.961 DISCRETIONARY EXPENSES THEY CAN CUT THAT 00:02:07.961 --> 00:02:07.994 DISCRETIONARY EXPENSES THEY CAN CUT THAT PRETTY 00:02:07.994 --> 00:02:08.228 THEY CAN CUT THAT PRETTY 00:02:08.228 --> 00:02:08.261 THEY CAN CUT THAT PRETTY MATERIALLY 00:02:08.261 --> 00:02:08.428 MATERIALLY 00:02:08.428 --> 00:02:08.595 MATERIALLY AGAIN, 00:02:08.595 --> 00:02:08.928 MATERIALLY AGAIN, THE 00:02:08.928 --> 00:02:11.431 MATERIALLY AGAIN, THE NEWS 00:02:11.431 --> 00:02:11.664 MATERIALLY AGAIN, THE NEWS TODAY, 00:02:11.664 --> 00:02:12.298 MATERIALLY AGAIN, THE NEWS TODAY, IF 00:02:12.298 --> 00:02:12.465 MATERIALLY AGAIN, THE NEWS TODAY, IF TRUE, 00:02:12.465 --> 00:02:12.599 AGAIN, THE NEWS TODAY, IF TRUE, 00:02:12.599 --> 00:02:12.999 AGAIN, THE NEWS TODAY, IF TRUE, IS 00:02:12.999 --> 00:02:13.133 AGAIN, THE NEWS TODAY, IF TRUE, IS A 00:02:13.133 --> 00:02:14.067 AGAIN, THE NEWS TODAY, IF TRUE, IS A POSITIVE 00:02:14.067 --> 00:02:14.100 AGAIN, THE NEWS TODAY, IF TRUE, IS A POSITIVE STEP 00:02:14.100 --> 00:02:14.467 IS A POSITIVE STEP 00:02:14.467 --> 00:02:16.436 IS A POSITIVE STEP AGAIN, 00:02:16.436 --> 00:02:16.769 IS A POSITIVE STEP AGAIN, ONLY 00:02:16.769 --> 00:02:17.170 IS A POSITIVE STEP AGAIN, ONLY A 00:02:17.170 --> 00:02:17.403 IS A POSITIVE STEP AGAIN, ONLY A COUPLE 00:02:17.403 --> 00:02:17.837 IS A POSITIVE STEP AGAIN, ONLY A COUPLE WEEKS 00:02:17.837 --> 00:02:18.004 IS A POSITIVE STEP AGAIN, ONLY A COUPLE WEEKS THEY 00:02:18.004 --> 00:02:18.138 AGAIN, ONLY A COUPLE WEEKS THEY 00:02:18.138 --> 00:02:18.204 AGAIN, ONLY A COUPLE WEEKS THEY GAVE 00:02:18.204 --> 00:02:18.304 AGAIN, ONLY A COUPLE WEEKS THEY GAVE THE 00:02:18.304 --> 00:02:18.371 AGAIN, ONLY A COUPLE WEEKS THEY GAVE THE GUIDE 00:02:18.371 --> 00:02:18.471 AGAIN, ONLY A COUPLE WEEKS THEY GAVE THE GUIDE THEY 00:02:18.471 --> 00:02:18.571 AGAIN, ONLY A COUPLE WEEKS THEY GAVE THE GUIDE THEY WOULD 00:02:18.571 --> 00:02:18.605 AGAIN, ONLY A COUPLE WEEKS THEY GAVE THE GUIDE THEY WOULD KEEP 00:02:18.605 --> 00:02:18.872 GAVE THE GUIDE THEY WOULD KEEP 00:02:18.872 --> 00:02:19.372 GAVE THE GUIDE THEY WOULD KEEP HEAD 00:02:19.372 --> 00:02:19.506 GAVE THE GUIDE THEY WOULD KEEP HEAD COUNT 00:02:19.506 --> 00:02:19.572 GAVE THE GUIDE THEY WOULD KEEP HEAD COUNT FLAT. 00:02:19.572 --> 00:02:19.706 HEAD COUNT FLAT. 00:02:19.706 --> 00:02:20.140 HEAD COUNT FLAT. >> 00:02:20.140 --> 00:02:21.608 HEAD COUNT FLAT. >> WHAT 00:02:21.608 --> 00:02:21.774 HEAD COUNT FLAT. >> WHAT DOES 00:02:21.774 --> 00:02:22.308 HEAD COUNT FLAT. >> WHAT DOES THIS 00:02:22.308 --> 00:02:27.881 HEAD COUNT FLAT. >> WHAT DOES THIS DO 00:02:27.881 --> 00:02:29.282 HEAD COUNT FLAT. >> WHAT DOES THIS DO TO 00:02:29.282 --> 00:02:30.150 HEAD COUNT FLAT. >> WHAT DOES THIS DO TO THE 00:02:30.150 --> 00:02:30.383 >> WHAT DOES THIS DO TO THE 00:02:30.383 --> 00:02:31.618 >> WHAT DOES THIS DO TO THE METAVERSE 00:02:31.618 --> 00:02:31.651 >> WHAT DOES THIS DO TO THE METAVERSE PLANS? 00:02:31.651 --> 00:02:31.851 METAVERSE PLANS? 00:02:31.851 --> 00:02:31.951 METAVERSE PLANS? PALANTIR 00:02:31.951 --> 00:02:32.051 METAVERSE PLANS? PALANTIR THREW 00:02:32.051 --> 00:02:32.085 METAVERSE PLANS? PALANTIR THREW SHADE 00:02:32.085 --> 00:02:32.152 METAVERSE PLANS? PALANTIR THREW SHADE ON 00:02:32.152 --> 00:02:32.218 METAVERSE PLANS? PALANTIR THREW SHADE ON THE 00:02:32.218 --> 00:02:32.418 PALANTIR THREW SHADE ON THE 00:02:32.418 --> 00:02:32.452 PALANTIR THREW SHADE ON THE COMPANY. 00:02:32.452 --> 00:02:32.719 COMPANY. 00:02:32.719 --> 00:02:32.785 COMPANY. FOUNDATIONAL 00:02:32.785 --> 00:02:32.952 COMPANY. FOUNDATIONAL DATA 00:02:32.952 --> 00:02:33.019 COMPANY. FOUNDATIONAL DATA PLATFORMS 00:02:33.019 --> 00:02:33.153 COMPANY. FOUNDATIONAL DATA PLATFORMS ARE 00:02:33.153 --> 00:02:33.319 FOUNDATIONAL DATA PLATFORMS ARE 00:02:33.319 --> 00:02:33.353 FOUNDATIONAL DATA PLATFORMS ARE NOT. 00:02:33.353 --> 00:02:33.520 NOT. 00:02:33.520 --> 00:02:33.753 NOT. IS 00:02:33.753 --> 00:02:34.254 NOT. IS META 00:02:34.254 --> 00:02:34.387 NOT. IS META AND 00:02:34.387 --> 00:02:34.721 NOT. IS META AND ITS 00:02:34.721 --> 00:02:35.155 NOT. IS META AND ITS PEERS, 00:02:35.155 --> 00:02:35.288 NOT. IS META AND ITS PEERS, ARE 00:02:35.288 --> 00:02:35.455 NOT. IS META AND ITS PEERS, ARE THEY 00:02:35.455 --> 00:02:35.655 IS META AND ITS PEERS, ARE THEY 00:02:35.655 --> 00:02:35.755 IS META AND ITS PEERS, ARE THEY RECESSION 00:02:35.755 --> 00:02:35.822 IS META AND ITS PEERS, ARE THEY RECESSION PROOF 00:02:35.822 --> 00:02:35.855 IS META AND ITS PEERS, ARE THEY RECESSION PROOF OR 00:02:35.855 --> 00:02:36.289 IS META AND ITS PEERS, ARE THEY RECESSION PROOF OR IS 00:02:36.289 --> 00:02:36.322 IS META AND ITS PEERS, ARE THEY RECESSION PROOF OR IS THAT 00:02:36.322 --> 00:02:37.891 RECESSION PROOF OR IS THAT 00:02:37.891 --> 00:02:38.258 RECESSION PROOF OR IS THAT EXACTLY 00:02:38.258 --> 00:02:38.691 RECESSION PROOF OR IS THAT EXACTLY WHAT 00:02:38.691 --> 00:02:39.192 RECESSION PROOF OR IS THAT EXACTLY WHAT THEY'RE 00:02:39.192 --> 00:02:39.492 RECESSION PROOF OR IS THAT EXACTLY WHAT THEY'RE TRYING 00:02:39.492 --> 00:02:39.526 RECESSION PROOF OR IS THAT EXACTLY WHAT THEY'RE TRYING TO 00:02:39.526 --> 00:02:39.859 EXACTLY WHAT THEY'RE TRYING TO 00:02:39.859 --> 00:02:40.193 EXACTLY WHAT THEY'RE TRYING TO COUNTER 00:02:40.193 --> 00:02:40.760 EXACTLY WHAT THEY'RE TRYING TO COUNTER RIGHT 00:02:40.760 --> 00:02:40.793 EXACTLY WHAT THEY'RE TRYING TO COUNTER RIGHT NOW? 00:02:40.793 --> 00:02:40.894 COUNTER RIGHT NOW? 00:02:40.894 --> 00:02:41.060 COUNTER RIGHT NOW? >> 00:02:41.060 --> 00:02:41.227 COUNTER RIGHT NOW? >> THERE'S 00:02:41.227 --> 00:02:41.694 COUNTER RIGHT NOW? >> THERE'S NOTHING 00:02:41.694 --> 00:02:41.728 COUNTER RIGHT NOW? >> THERE'S NOTHING RECESSION 00:02:41.728 --> 00:02:42.095 >> THERE'S NOTHING RECESSION 00:02:42.095 --> 00:02:42.195 >> THERE'S NOTHING RECESSION PROOF 00:02:42.195 --> 00:02:42.362 >> THERE'S NOTHING RECESSION PROOF THAN 00:02:42.362 --> 00:02:42.495 >> THERE'S NOTHING RECESSION PROOF THAN TECHNOLOGY 00:02:42.495 --> 00:02:42.962 >> THERE'S NOTHING RECESSION PROOF THAN TECHNOLOGY RIGHT 00:02:42.962 --> 00:02:42.996 >> THERE'S NOTHING RECESSION PROOF THAN TECHNOLOGY RIGHT NOW. 00:02:42.996 --> 00:02:43.129 PROOF THAN TECHNOLOGY RIGHT NOW. 00:02:43.129 --> 00:02:43.263 PROOF THAN TECHNOLOGY RIGHT NOW. IT'S 00:02:43.263 --> 00:02:43.363 PROOF THAN TECHNOLOGY RIGHT NOW. IT'S ACTUALLY 00:02:43.363 --> 00:02:44.297 PROOF THAN TECHNOLOGY RIGHT NOW. IT'S ACTUALLY THE 00:02:44.297 --> 00:02:44.330 PROOF THAN TECHNOLOGY RIGHT NOW. IT'S ACTUALLY THE OPPOSITE 00:02:44.330 --> 00:02:44.464 IT'S ACTUALLY THE OPPOSITE 00:02:44.464 --> 00:02:45.131 IT'S ACTUALLY THE OPPOSITE LOOK 00:02:45.131 --> 00:02:45.231 IT'S ACTUALLY THE OPPOSITE LOOK AT 00:02:45.231 --> 00:02:48.001 IT'S ACTUALLY THE OPPOSITE LOOK AT THE 00:02:48.001 --> 00:02:49.636 IT'S ACTUALLY THE OPPOSITE LOOK AT THE XLE, 00:02:49.636 --> 00:02:50.203 IT'S ACTUALLY THE OPPOSITE LOOK AT THE XLE, THE 00:02:50.203 --> 00:02:50.370 IT'S ACTUALLY THE OPPOSITE LOOK AT THE XLE, THE ENERGY 00:02:50.370 --> 00:02:50.570 LOOK AT THE XLE, THE ENERGY 00:02:50.570 --> 00:02:50.937 LOOK AT THE XLE, THE ENERGY INDEX 00:02:50.937 --> 00:02:51.004 LOOK AT THE XLE, THE ENERGY INDEX UP 00:02:51.004 --> 00:02:51.104 LOOK AT THE XLE, THE ENERGY INDEX UP 67% 00:02:51.104 --> 00:02:51.671 LOOK AT THE XLE, THE ENERGY INDEX UP 67% AND 00:02:51.671 --> 00:02:51.971 LOOK AT THE XLE, THE ENERGY INDEX UP 67% AND SULFUR 00:02:51.971 --> 00:02:52.172 LOOK AT THE XLE, THE ENERGY INDEX UP 67% AND SULFUR IS 00:02:52.172 --> 00:02:52.472 LOOK AT THE XLE, THE ENERGY INDEX UP 67% AND SULFUR IS DOWN 00:02:52.472 --> 00:02:52.639 INDEX UP 67% AND SULFUR IS DOWN 00:02:52.639 --> 00:02:53.173 INDEX UP 67% AND SULFUR IS DOWN 30, 00:02:53.173 --> 00:02:53.206 INDEX UP 67% AND SULFUR IS DOWN 30, 40%. 00:02:53.206 --> 00:02:53.339 30, 40%. 00:02:53.339 --> 00:02:53.573 30, 40%. NO 00:02:53.573 --> 00:02:53.673 30, 40%. NO ONE 00:02:53.673 --> 00:02:54.340 30, 40%. NO ONE IS 00:02:54.340 --> 00:02:54.374 30, 40%. NO ONE IS IMMUNE 00:02:54.374 --> 00:02:54.474 NO ONE IS IMMUNE 00:02:54.474 --> 00:02:56.242 NO ONE IS IMMUNE THE 00:02:56.242 --> 00:02:56.843 NO ONE IS IMMUNE THE METAVERSE 00:02:56.843 --> 00:02:57.343 NO ONE IS IMMUNE THE METAVERSE IS 00:02:57.343 --> 00:02:57.777 NO ONE IS IMMUNE THE METAVERSE IS ON 00:02:57.777 --> 00:02:57.810 NO ONE IS IMMUNE THE METAVERSE IS ON HOLD 00:02:57.810 --> 00:02:57.911 THE METAVERSE IS ON HOLD 00:02:57.911 --> 00:02:58.011 THE METAVERSE IS ON HOLD IT 00:02:58.011 --> 00:02:58.077 THE METAVERSE IS ON HOLD IT SHOULD 00:02:58.077 --> 00:02:58.111 THE METAVERSE IS ON HOLD IT SHOULD BE 00:02:58.111 --> 00:02:58.311 THE METAVERSE IS ON HOLD IT SHOULD BE ON 00:02:58.311 --> 00:02:58.344 THE METAVERSE IS ON HOLD IT SHOULD BE ON HOLD 00:02:58.344 --> 00:02:58.444 IT SHOULD BE ON HOLD 00:02:58.444 --> 00:02:58.545 IT SHOULD BE ON HOLD THE 00:02:58.545 --> 00:02:58.578 IT SHOULD BE ON HOLD THE BULK 00:02:58.578 --> 00:02:58.845 IT SHOULD BE ON HOLD THE BULK OF 00:02:58.845 --> 00:02:58.978 IT SHOULD BE ON HOLD THE BULK OF META'S 00:02:58.978 --> 00:02:59.245 IT SHOULD BE ON HOLD THE BULK OF META'S REVENUE 00:02:59.245 --> 00:02:59.412 IT SHOULD BE ON HOLD THE BULK OF META'S REVENUE IS 00:02:59.412 --> 00:03:01.347 THE BULK OF META'S REVENUE IS 00:03:01.347 --> 00:03:01.614 THE BULK OF META'S REVENUE IS FROM 00:03:01.614 --> 00:03:01.648 THE BULK OF META'S REVENUE IS FROM ADVERTISING 00:03:01.648 --> 00:03:01.781 FROM ADVERTISING 00:03:01.781 --> 00:03:01.981 FROM ADVERTISING IT'S 00:03:01.981 --> 00:03:02.382 FROM ADVERTISING IT'S NOT 00:03:02.382 --> 00:03:02.482 FROM ADVERTISING IT'S NOT THIS 00:03:02.482 --> 00:03:02.649 FROM ADVERTISING IT'S NOT THIS NEXT 00:03:02.649 --> 00:03:03.416 FROM ADVERTISING IT'S NOT THIS NEXT GENERATION 00:03:03.416 --> 00:03:03.750 IT'S NOT THIS NEXT GENERATION 00:03:03.750 --> 00:03:03.783 IT'S NOT THIS NEXT GENERATION WORLD. 00:03:03.783 --> 00:03:03.917 WORLD. 00:03:03.917 --> 00:03:04.250 WORLD. EVEN 00:03:04.250 --> 00:03:04.551 WORLD. EVEN WHEN 00:03:04.551 --> 00:03:04.684 WORLD. EVEN WHEN YOU 00:03:04.684 --> 00:03:04.851 WORLD. EVEN WHEN YOU DO 00:03:04.851 --> 00:03:05.084 WORLD. EVEN WHEN YOU DO INTERVIEWS 00:03:05.084 --> 00:03:05.118 WORLD. EVEN WHEN YOU DO INTERVIEWS OF 00:03:05.118 --> 00:03:05.251 EVEN WHEN YOU DO INTERVIEWS OF 00:03:05.251 --> 00:03:05.318 EVEN WHEN YOU DO INTERVIEWS OF KIDS 00:03:05.318 --> 00:03:05.585 EVEN WHEN YOU DO INTERVIEWS OF KIDS THAT 00:03:05.585 --> 00:03:05.885 EVEN WHEN YOU DO INTERVIEWS OF KIDS THAT USE 00:03:05.885 --> 00:03:06.152 EVEN WHEN YOU DO INTERVIEWS OF KIDS THAT USE THE 00:03:06.152 --> 00:03:06.219 EVEN WHEN YOU DO INTERVIEWS OF KIDS THAT USE THE HEAD 00:03:06.219 --> 00:03:06.319 EVEN WHEN YOU DO INTERVIEWS OF KIDS THAT USE THE HEAD SET, 00:03:06.319 --> 00:03:06.486 KIDS THAT USE THE HEAD SET, 00:03:06.486 --> 00:03:06.719 KIDS THAT USE THE HEAD SET, THEY'LL 00:03:06.719 --> 00:03:06.986 KIDS THAT USE THE HEAD SET, THEY'LL TELL 00:03:06.986 --> 00:03:07.153 KIDS THAT USE THE HEAD SET, THEY'LL TELL YOU, 00:03:07.153 --> 00:03:07.253 KIDS THAT USE THE HEAD SET, THEY'LL TELL YOU, THEY 00:03:07.253 --> 00:03:07.520 KIDS THAT USE THE HEAD SET, THEY'LL TELL YOU, THEY WANT 00:03:07.520 --> 00:03:07.554 KIDS THAT USE THE HEAD SET, THEY'LL TELL YOU, THEY WANT TO 00:03:07.554 --> 00:03:07.687 THEY'LL TELL YOU, THEY WANT TO 00:03:07.687 --> 00:03:07.787 THEY'LL TELL YOU, THEY WANT TO KEEP 00:03:07.787 --> 00:03:07.921 THEY'LL TELL YOU, THEY WANT TO KEEP IT 00:03:07.921 --> 00:03:08.188 THEY'LL TELL YOU, THEY WANT TO KEEP IT ON 00:03:08.188 --> 00:03:08.254 THEY'LL TELL YOU, THEY WANT TO KEEP IT ON FIVE 00:03:08.254 --> 00:03:08.321 THEY'LL TELL YOU, THEY WANT TO KEEP IT ON FIVE TO 00:03:08.321 --> 00:03:08.621 THEY'LL TELL YOU, THEY WANT TO KEEP IT ON FIVE TO TEN 00:03:08.621 --> 00:03:08.655 THEY'LL TELL YOU, THEY WANT TO KEEP IT ON FIVE TO TEN MINUTES 00:03:08.655 --> 00:03:08.888 KEEP IT ON FIVE TO TEN MINUTES 00:03:08.888 --> 00:03:09.088 KEEP IT ON FIVE TO TEN MINUTES AND 00:03:09.088 --> 00:03:09.322 KEEP IT ON FIVE TO TEN MINUTES AND THEN 00:03:09.322 --> 00:03:09.556 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY 00:03:09.556 --> 00:03:09.689 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY WANT 00:03:09.689 --> 00:03:09.822 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY WANT TO 00:03:09.822 --> 00:03:09.956 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY WANT TO RIP 00:03:09.956 --> 00:03:10.223 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY WANT TO RIP IT 00:03:10.223 --> 00:03:10.256 KEEP IT ON FIVE TO TEN MINUTES AND THEN THEY WANT TO RIP IT OFF 00:03:10.256 --> 00:03:10.356 AND THEN THEY WANT TO RIP IT OFF 00:03:10.356 --> 00:03:10.590 AND THEN THEY WANT TO RIP IT OFF AND 00:03:10.590 --> 00:03:11.224 AND THEN THEY WANT TO RIP IT OFF AND THEN 00:03:11.224 --> 00:03:11.724 AND THEN THEY WANT TO RIP IT OFF AND THEN THEY 00:03:11.724 --> 00:03:11.958 AND THEN THEY WANT TO RIP IT OFF AND THEN THEY DON'T 00:03:11.958 --> 00:03:12.425 AND THEN THEY WANT TO RIP IT OFF AND THEN THEY DON'T TOUCH 00:03:12.425 --> 00:03:12.458 AND THEN THEY WANT TO RIP IT OFF AND THEN THEY DON'T TOUCH IT 00:03:12.458 --> 00:03:12.625 AND THEN THEY DON'T TOUCH IT 00:03:12.625 --> 00:03:12.659 AND THEN THEY DON'T TOUCH IT AGAIN. 00:03:12.659 --> 00:03:12.759 AGAIN. 00:03:12.759 --> 00:03:12.825 AGAIN. WE 00:03:12.825 --> 00:03:12.926 AGAIN. WE HAVE 00:03:12.926 --> 00:03:13.126 AGAIN. WE HAVE TO 00:03:13.126 --> 00:03:13.259 AGAIN. WE HAVE TO SOFL 00:03:13.259 --> 00:03:13.660 AGAIN. WE HAVE TO SOFL THIS 00:03:13.660 --> 00:03:14.460 AGAIN. WE HAVE TO SOFL THIS ISSUE 00:03:14.460 --> 00:03:14.494 AGAIN. WE HAVE TO SOFL THIS ISSUE OF, 00:03:14.494 --> 00:03:16.462 WE HAVE TO SOFL THIS ISSUE OF, 00:03:16.462 --> 00:03:18.965 WE HAVE TO SOFL THIS ISSUE OF, HEY, 00:03:18.965 --> 00:03:19.098 WE HAVE TO SOFL THIS ISSUE OF, HEY, IT'S 00:03:19.098 --> 00:03:19.766 WE HAVE TO SOFL THIS ISSUE OF, HEY, IT'S A 00:03:19.766 --> 00:03:19.799 WE HAVE TO SOFL THIS ISSUE OF, HEY, IT'S A NOVELTY. 00:03:19.799 --> 00:03:23.002 HEY, IT'S A NOVELTY. 00:03:23.002 --> 00:03:23.136 HEY, IT'S A NOVELTY. YES, 00:03:23.136 --> 00:03:23.203 HEY, IT'S A NOVELTY. YES, THERE'S 00:03:23.203 --> 00:03:23.303 HEY, IT'S A NOVELTY. YES, THERE'S SOME 00:03:23.303 --> 00:03:23.369 HEY, IT'S A NOVELTY. YES, THERE'S SOME GREAT 00:03:23.369 --> 00:03:23.603 YES, THERE'S SOME GREAT 00:03:23.603 --> 00:03:24.370 YES, THERE'S SOME GREAT COMMERCIAL 00:03:24.370 --> 00:03:24.404 YES, THERE'S SOME GREAT COMMERCIAL ASPECTS 00:03:24.404 --> 00:03:24.571 YES, THERE'S SOME GREAT COMMERCIAL ASPECTS IN 00:03:24.571 --> 00:03:24.604 YES, THERE'S SOME GREAT COMMERCIAL ASPECTS IN HEALTH 00:03:24.604 --> 00:03:24.737 COMMERCIAL ASPECTS IN HEALTH 00:03:24.737 --> 00:03:24.971 COMMERCIAL ASPECTS IN HEALTH CARE 00:03:24.971 --> 00:03:25.305 COMMERCIAL ASPECTS IN HEALTH CARE AND 00:03:25.305 --> 00:03:25.371 COMMERCIAL ASPECTS IN HEALTH CARE AND AVIATION 00:03:25.371 --> 00:03:25.438 COMMERCIAL ASPECTS IN HEALTH CARE AND AVIATION FOR 00:03:25.438 --> 00:03:25.538 COMMERCIAL ASPECTS IN HEALTH CARE AND AVIATION FOR THE 00:03:25.538 --> 00:03:25.772 CARE AND AVIATION FOR THE 00:03:25.772 --> 00:03:25.805 CARE AND AVIATION FOR THE METAVERSE. 00:03:25.805 --> 00:03:25.872 METAVERSE. 00:03:25.872 --> 00:03:25.972 METAVERSE. I 00:03:25.972 --> 00:03:26.072 METAVERSE. I THINK 00:03:26.072 --> 00:03:26.239 METAVERSE. I THINK WHEN 00:03:26.239 --> 00:03:26.306 METAVERSE. I THINK WHEN INVESTORS 00:03:26.306 --> 00:03:26.339 METAVERSE. I THINK WHEN INVESTORS ARE 00:03:26.339 --> 00:03:26.506 I THINK WHEN INVESTORS ARE 00:03:26.506 --> 00:03:26.573 I THINK WHEN INVESTORS ARE SAYING 00:03:26.573 --> 00:03:26.739 I THINK WHEN INVESTORS ARE SAYING HIS 00:03:26.739 --> 00:03:26.906 I THINK WHEN INVESTORS ARE SAYING HIS INVESTMENT 00:03:26.906 --> 00:03:27.207 I THINK WHEN INVESTORS ARE SAYING HIS INVESTMENT LEVEL 00:03:27.207 --> 00:03:27.240 I THINK WHEN INVESTORS ARE SAYING HIS INVESTMENT LEVEL IS 00:03:27.240 --> 00:03:27.340 SAYING HIS INVESTMENT LEVEL IS 00:03:27.340 --> 00:03:27.640 SAYING HIS INVESTMENT LEVEL IS WAY 00:03:27.640 --> 00:03:28.041 SAYING HIS INVESTMENT LEVEL IS WAY TOO 00:03:28.041 --> 00:03:28.174 SAYING HIS INVESTMENT LEVEL IS WAY TOO HIGH 00:03:28.174 --> 00:03:28.274 SAYING HIS INVESTMENT LEVEL IS WAY TOO HIGH FOR 00:03:28.274 --> 00:03:28.541 SAYING HIS INVESTMENT LEVEL IS WAY TOO HIGH FOR WHAT 00:03:28.541 --> 00:03:29.976 SAYING HIS INVESTMENT LEVEL IS WAY TOO HIGH FOR WHAT IT 00:03:29.976 --> 00:03:30.510 SAYING HIS INVESTMENT LEVEL IS WAY TOO HIGH FOR WHAT IT WILL 00:03:30.510 --> 00:03:30.677 WAY TOO HIGH FOR WHAT IT WILL 00:03:30.677 --> 00:03:30.710 WAY TOO HIGH FOR WHAT IT WILL BE 00:03:30.710 --> 00:03:30.877 BE 00:03:30.877 --> 00:03:31.044 BE THERE'S 00:03:31.044 --> 00:03:32.212 BE THERE'S ELEMENTS 00:03:32.212 --> 00:03:32.545 BE THERE'S ELEMENTS WE 00:03:32.545 --> 00:03:33.580 BE THERE'S ELEMENTS WE LIKE, 00:03:33.580 --> 00:03:33.613 BE THERE'S ELEMENTS WE LIKE, BUT 00:03:33.613 --> 00:03:34.147 BE THERE'S ELEMENTS WE LIKE, BUT I 00:03:34.147 --> 00:03:34.314 THERE'S ELEMENTS WE LIKE, BUT I 00:03:34.314 --> 00:03:34.414 THERE'S ELEMENTS WE LIKE, BUT I THINK, 00:03:34.414 --> 00:03:34.480 THERE'S ELEMENTS WE LIKE, BUT I THINK, AGAIN, 00:03:34.480 --> 00:03:34.547 THERE'S ELEMENTS WE LIKE, BUT I THINK, AGAIN, TO 00:03:34.547 --> 00:03:34.581 THERE'S ELEMENTS WE LIKE, BUT I THINK, AGAIN, TO USH 00:03:34.581 --> 00:03:34.681 THINK, AGAIN, TO USH 00:03:34.681 --> 00:03:34.847 THINK, AGAIN, TO USH THE 00:03:34.847 --> 00:03:34.881 THINK, AGAIN, TO USH THE THROTTLE 00:03:34.881 --> 00:03:35.215 THINK, AGAIN, TO USH THE THROTTLE TO 00:03:35.215 --> 00:03:35.915 THINK, AGAIN, TO USH THE THROTTLE TO 11 00:03:35.915 --> 00:03:36.316 THINK, AGAIN, TO USH THE THROTTLE TO 11 INTO 00:03:36.316 --> 00:03:36.649 THINK, AGAIN, TO USH THE THROTTLE TO 11 INTO A 00:03:36.649 --> 00:03:36.883 THE THROTTLE TO 11 INTO A 00:03:36.883 --> 00:03:36.950 THE THROTTLE TO 11 INTO A RECESSION, 00:03:36.950 --> 00:03:38.318 THE THROTTLE TO 11 INTO A RECESSION, INTO 00:03:38.318 --> 00:03:38.785 THE THROTTLE TO 11 INTO A RECESSION, INTO SOMETHING 00:03:38.785 --> 00:03:38.818 THE THROTTLE TO 11 INTO A RECESSION, INTO SOMETHING THAT 00:03:38.818 --> 00:03:38.918 RECESSION, INTO SOMETHING THAT 00:03:38.918 --> 00:03:39.118 RECESSION, INTO SOMETHING THAT IS 00:03:39.118 --> 00:03:39.686 RECESSION, INTO SOMETHING THAT IS NOT 00:03:39.686 --> 00:03:39.852 RECESSION, INTO SOMETHING THAT IS NOT PROVEN 00:03:39.852 --> 00:03:40.119 RECESSION, INTO SOMETHING THAT IS NOT PROVEN IS 00:03:40.119 --> 00:03:40.320 RECESSION, INTO SOMETHING THAT IS NOT PROVEN IS EXACTLY 00:03:40.320 --> 00:03:40.653 RECESSION, INTO SOMETHING THAT IS NOT PROVEN IS EXACTLY WHY 00:03:40.653 --> 00:03:40.820 RECESSION, INTO SOMETHING THAT IS NOT PROVEN IS EXACTLY WHY NO 00:03:40.820 --> 00:03:40.920 IS NOT PROVEN IS EXACTLY WHY NO 00:03:40.920 --> 00:03:41.054 IS NOT PROVEN IS EXACTLY WHY NO ONE 00:03:41.054 --> 00:03:41.187 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS 00:03:41.187 --> 00:03:41.321 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS TO 00:03:41.321 --> 00:03:41.588 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS TO BE 00:03:41.588 --> 00:03:41.788 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS TO BE IN 00:03:41.788 --> 00:03:41.988 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS TO BE IN META 00:03:41.988 --> 00:03:42.155 IS NOT PROVEN IS EXACTLY WHY NO ONE WANTS TO BE IN META RIGHT 00:03:42.155 --> 00:03:42.255 ONE WANTS TO BE IN META RIGHT 00:03:42.255 --> 00:03:42.322 ONE WANTS TO BE IN META RIGHT NOW 00:03:42.322 --> 00:03:42.388 ONE WANTS TO BE IN META RIGHT NOW ON 00:03:42.388 --> 00:03:42.622 ONE WANTS TO BE IN META RIGHT NOW ON THE 00:03:42.622 --> 00:03:42.822 ONE WANTS TO BE IN META RIGHT NOW ON THE SHORT 00:03:42.822 --> 00:03:42.855 ONE WANTS TO BE IN META RIGHT NOW ON THE SHORT TERM. 00:03:42.855 --> 00:03:43.022 NOW ON THE SHORT TERM. 00:03:43.022 --> 00:03:43.156 NOW ON THE SHORT TERM. THEY 00:03:43.156 --> 00:03:43.423 NOW ON THE SHORT TERM. THEY HAVE 00:03:43.423 --> 00:03:44.090 NOW ON THE SHORT TERM. THEY HAVE TO 00:03:44.090 --> 00:03:44.290 NOW ON THE SHORT TERM. THEY HAVE TO GO 00:03:44.290 --> 00:03:44.324 NOW ON THE SHORT TERM. THEY HAVE TO GO BACK 00:03:44.324 --> 00:03:44.390 NOW ON THE SHORT TERM. THEY HAVE TO GO BACK TO 00:03:44.390 --> 00:03:44.691 NOW ON THE SHORT TERM. THEY HAVE TO GO BACK TO THE 00:03:44.691 --> 00:03:45.191 THEY HAVE TO GO BACK TO THE 00:03:45.191 --> 00:03:45.458 THEY HAVE TO GO BACK TO THE CORE, 00:03:45.458 --> 00:03:45.658 THEY HAVE TO GO BACK TO THE CORE, THE 00:03:45.658 --> 00:03:46.092 THEY HAVE TO GO BACK TO THE CORE, THE ADVERTISING 00:03:46.092 --> 00:03:46.259 THEY HAVE TO GO BACK TO THE CORE, THE ADVERTISING BUSINESS, 00:03:46.259 --> 00:03:46.359 CORE, THE ADVERTISING BUSINESS, 00:03:46.359 --> 00:03:46.459 CORE, THE ADVERTISING BUSINESS, AND 00:03:46.459 --> 00:03:46.559 CORE, THE ADVERTISING BUSINESS, AND THIS 00:03:46.559 --> 00:03:46.693 CORE, THE ADVERTISING BUSINESS, AND THIS IS 00:03:46.693 --> 00:03:46.993 CORE, THE ADVERTISING BUSINESS, AND THIS IS A 00:03:46.993 --> 00:03:47.026 CORE, THE ADVERTISING BUSINESS, AND THIS IS A PHENOMENAL 00:03:47.026 --> 00:03:47.227 AND THIS IS A PHENOMENAL 00:03:47.227 --> 00:03:47.293 AND THIS IS A PHENOMENAL BUSINESS 00:03:47.293 --> 00:03:47.393 AND THIS IS A PHENOMENAL BUSINESS THEY 00:03:47.393 --> 00:03:47.694 AND THIS IS A PHENOMENAL BUSINESS THEY NEED 00:03:47.694 --> 00:03:48.161 AND THIS IS A PHENOMENAL BUSINESS THEY NEED TO 00:03:48.161 --> 00:03:48.194 AND THIS IS A PHENOMENAL BUSINESS THEY NEED TO DOUBLE 00:03:48.194 --> 00:03:48.561 BUSINESS THEY NEED TO DOUBLE 00:03:48.561 --> 00:03:48.595 BUSINESS THEY NEED TO DOUBLE DOWN 00:03:48.595 --> 00:03:48.695 DOWN 00:03:48.695 --> 00:03:48.861 DOWN IT 00:03:48.861 --> 00:03:49.963 DOWN IT REMINDS 00:03:49.963 --> 00:03:50.230 DOWN IT REMINDS ME 00:03:50.230 --> 00:03:50.396 DOWN IT REMINDS ME OF 00:03:50.396 --> 00:03:50.597 DOWN IT REMINDS ME OF MICROSOFT 00:03:50.597 --> 00:03:50.763 DOWN IT REMINDS ME OF MICROSOFT BACK 00:03:50.763 --> 00:03:50.863 IT REMINDS ME OF MICROSOFT BACK 00:03:50.863 --> 00:03:51.030 IT REMINDS ME OF MICROSOFT BACK IN 00:03:51.030 --> 00:03:51.397 IT REMINDS ME OF MICROSOFT BACK IN THE 00:03:51.397 --> 00:03:51.431 IT REMINDS ME OF MICROSOFT BACK IN THE DAY 00:03:51.431 --> 00:03:51.564 IN THE DAY 00:03:51.564 --> 00:03:51.898 IN THE DAY THEY 00:03:51.898 --> 00:03:53.166 IN THE DAY THEY GOT 00:03:53.166 --> 00:03:53.432 IN THE DAY THEY GOT AIL