>> Live from Miami Beach, Florida, it's theCUBE, covering UiPath Forward Americas brought to you by UiPath. >> Welcome back to Miami Beach, everybody. This is theCUBE, the leader in live tech coverage. I'm Dave Vallante with Stu Miniman. This is our one day coverage of UiPath. UiPath Forward Americas. UiPath does these events all over the world. They've reached about 14,000 customers to date and about 1,500 here, Stu. A great show, a lot of energy. We're watching the ascendancy of robotic process automation, the simplification of software robots. Courtney Dominiguez is here, she's the Vice President of World Fuel Services and she's joined by Ashim Gupta who's the UiPath's Chief Customer Success Officer. Welcome folks, thanks for coming on theCUBE. >> Thanks. >> Thank you. >> So, Courtney, let's start with you. World Fuel Services: what's that all about? >> So we're a logistics company, an energy logistics company. We're actually based here in Miami, Florida so it was a short commute over to the Fountain Blue for the day. >> Lucky you. >> Yes, exactly. So, yeah, we do fuel globally, all over the world. So we do for aviation, marine, and land. We also focus on renewable energy and we're really developing over in Europe as well. >> So, interesting, a lot of interesting drivers and dynamics in your business, fast moving, a lot of change, sometimes hard to predict. >> Yes. >> In terms of your role, talk about your role and what some of the key business drivers are that force you to be on top of your game. >> Yeah, so, I'm in charge of shared services and automation for the company so it's really my role to help us operate more efficiently and do things smarter. You know everybody's being challenged to do more with less and as you grow the business, your transaction accounts grow as well so we're really in charge of transforming and providing solutions. UiPath is a component, a big component, of what we're going to be rolling out and helping to really do transformation. >> So, Ashim, Courtney saying, do more with less, that's got to be music to your ears. Your job is to make, Courtney, her company, successful. So, talk about your role and how you actually make your success. >> Sure, so, one, I was a former customer. So you look at Daniel Dines' strategy and UiPath's strategy and it's bringing people in who really have a passion for the industry and have that experience to go and try and operationalize a lot of our mission. As a former customer, I know a lot of times you get sold software and you don't get a lot of the tools or you got to go buy another set of tools to make the first set of tools work. So customer success is about giving technical talent and really great experts and put them in the hands of our best customers to answer the questions that are out there as they embark on their RPA journey. That can go from anything from infrastructure, technical hurdles that they may face to how to really think about RPA, how to eventualize it within their areas. And by doing that, we get people to up that adoption curve, they start seeing the benefits of RPA and it becomes a no-brainer, both for the company to invest in and employees to understand the value that RPA brings. >> So, Courtney, was RPA kind of a no-brainer for you? Was it a, "What is this technology?" How did you go about sort of bringing RPA into your organization? >> Yeah, I think all of the above. So, it seems very intuitive. You know, you want to do things smarter and do things more efficiently but that makes people nervous too so there's a lot of people that say, "I like what I do" "and if you do it smarter and more efficient," "do you still need me?" And I also think that, from the top, it's easy to say robots, and that sounds really cool but really putting it into the water supply is a different story. So, one of the things that we did, we hosted a RPA awareness day, partnered with UiPath. They came in and worked with us on that. And then after that we hosted a bot-a-thon. So, we went out and we had our whole enterprise download the community version of UiPath and just had them start experimenting and coming up with their own ideas and honestly, it was a great crowd-sourcing engine for us. And we just came up with an instant pipeline of ideas and people really caught on and bought into it at that point. So it was fantastic. >> Courtney, I want you to expand a little bit on that. In my career, I've always said, "I know next quarter," "next year, I'm going to have more to do." When I managed a group in operations it was, "You need to figure out what you can get rid of," "you know, what you can," I mean automated a decade ago was quite different than what you do today but I like what you said about how you engaged everybody and got them to, kind of, get over that fear of the unknown. How long's the process going to take? Did you have senior management involvement in the planning? >> Yeah honestly, this was a great, ground roots kind of a way of getting it out and it didn't take long at all. I mean we've only been on this journey a couple of months quite honestly and it's caught on like wildfire and we're really excited about it. So you know, I think it's great that we were able to partner some of our great, younger talent with some of our more, people who've been doing it for a long time. And we partnered together, we partnered them together and then they came up with their own ideas. It's easy for me to, Monday morning, quarterback, and stand on the other side and say, "Oh, you should do this or do that" but the people that are doing it everyday are the ones who have the best ideas. They know what they don't want to do. They know what they want to spend their time working on. So they're the best ones to figure out how to make that other stuff that's not quite as fun go away. So, yeah, it's been fantastic. >> So, Ashim, if I could ask, how do you help your customers figure out what the right metric is? What is success for them? You've been on the customer side, you've been talking to users, it's often like, "Oh, I think I'm going to be able" "to save money but maybe it's growing revenue." There's a lot of pieces there. >> I mean, a lot of it starts with listening because I don't think there's one right answer. You know, a lot of software companies come in and say, "It is just about cost", or, "It is just about X". We think about it very differently. Some of our customers think about it in terms of cost equality, getting accurate data, getting things done 100% accurate and getting data quality up. Some of them, it is a productivity game, right? It's important to get that cost down. We have customers in Japan who are using it to augment their workforce because they need more workers than the market can supply and RPA gets it. So I would say the first is listening to our customers. The second piece of it is, then, there are some standard things across our customer base that we're all learning together. You know, one of our customers started looking at the time, the run time of a bot. Or how long, how much infrastructure does it consume? So we're able to get best practices across to be able to figure out what are the right metrics that suits our customers' needs. >> Courtney, I'm trying to understand if it was a top-down initiative or a bottoms-up or both? >> It's both, yeah I think it's really both. So I think it's that top level setting the direction and saying, "This is what we want to do." One of the things we have at World Fuel is, a lot of people have the mantra, and Dan said this this morning as well, is, "We don't want to touch the keyboard." Right? We want to be no-touch. We want things to come through seamlessly. So that's getting great data quality at the beginning with customer onboarding and then getting it all the way through and out the door because, at the end of the day, we need to get the invoices out and the money back in, right? And I need accurate data to do that and do things efficiently. So, I think it's from the top saying, "We want to be no-touch", and then it's up to my team to help provide solutions and work with the businesses and figure out how to make that happen. >> So it sounds like you had this ideation initiative and did you just pick one or two or did you say, "Okay, guys, go?" Where did you start, what did you have to do to really prove out the value? >> We did, we definitely picked one or two. It went with quick wins but when you go with quick wins and you say, "This is what we did in a really short" "amount of time with minimal effort," "think of the art of the possible, think of what we can do?" And now our focus is not on quick wins. Our focus is on, "How do we transform our business? "How do we take this tool and really apply it" "and transform the way we work?" So I think it's important to have those quick wins initially and just kind of set the stage because that gets everybody thinking, "Wow, this can be really big." >> What kind of person was required to build the robots? Somebody who's fairly technical or was it a business person, was it a team, two people team? >> I have the best team ever and I really think we got a lot of them internally. Really, citizen, kind of data, scientist people. Not anybody that was necessarily trained in it. Now we're getting more and more data scientists added to the team. So we're getting more developer-type skills. We also have BAs, so we've got some people who are great at looking at process and how can we make things more efficient? It's a combination but I do really think that some of our best resources have just been people that are really eager to learn. I mean, UiPath does an amazing job of putting the certification and the academy, and so many online tools it's free. I mean, it's so easy to work with them and really pick it up. You know you don't need a lot of training and that's one of the reasons we selected UiPath you don't need to be a rocket scientist to figure this stuff out. And they really make it all so readily available. >> A lot of the customers we talked to today on theCUBE have gone through a business case, some rigorous, some sort of back-of-napkin, What kind of business case and justification did you go through? >> So we started small with the bots. So we said, "Lets prove it out with a small number of bots" "and if we can do that, then we can scale". And we were just chatting earlier that now we really want to look at it and say, "Over the next three", "six, 12 months, how can we really scale this" "and what do we think that looks like?" Again, start small and then, now okay now we know what's out there and we know what we can get so let's go big and we're ready to do that now. >> So did you go through a rigorous, sort of, quantification of the business value or was it more like, "Hey, it's low risk. Let's try it, see what we get." >> Yeah, yeah, it's low risk, let's just do it. >> I mean what was the result, what was the business event? >> Honestly, it's been fantastic. I mean the results back that we've had have been savings of 100,000s of dollars with minimal, again, minimal effort and minimal, really unsure of what we were going to get out of it. So, it's phenomenal. >> And the denominator, and I say denominator I'm talking about benefit divided by cost-- >> Yeah. >> Sounds like the denominator was pretty low. >> Pretty low, yeah. >> One of the best ways to get our eyes, lower the denominator. I always talk to my kids about this when it comes to college cost so you know what I mean, (laughing) And really, with the community version, getting that out there and free and just having people start playing around with it? I mean, that right there keeps your cost pretty low because they're funneling and putting ideas in the pipeline and then when it comes time to develop it and make it production ready, that's where our effort is involved but to just get that into the pipeline with a little bit of effort and a little bit of cost is a no-brainer. >> So it's clear, your strategy as a company is to lower the barriers to entry for your clients, train them, free training, get them hooked, and then let the rest of it soar. >> Yeah, I mean, one is we share that, our CEO talked about that today, we share that joy that automation brings to a lot of people's work. That's what drives them. So for us, it's not about nickel and diming people every step of the way, it is arming them with what they need to fulfill the mission for what we sold them automation or RPA for. And that's a huge part of it so it goes beyond just the academy, just the training, you know, it's the intimacy that we want to keep with our customers. So we're growing very fast in our number of employees. So, even though, I think we're getting close to 2,000 customers, our goal is to get to 2,000 employees here very quickly. And our CEO really stresses customer first in that equation so we learn and we do little pivot points along the way. An example could be internal marketing, helping people drive awareness. You know, the bot-a-thon that Courtney had for her team, we want to be able to sponsor those things. You know, be partners in getting that name of RPA out there. So it's everything they need to try to get up that curve. >> Courtney, your enthusiasm is palpable, as much of the feedback that we've had from customers, but if you had to do it over again, would you change anything, would you go faster? Would you have done anything differently if you'd had a mulligan? >> One of the concerns is that I feel like we've got a lot of momentum and I want to keep it going. So I want to, like Ashim, we need to scale our team as well so that we're able to handle that pipeline of work coming in and that we don't stall out because I really see a lot of enthusiasm for what we're developing and we want to be able to keep up with that. I love moving fast, I wish we could move faster, I push my team to say, "How much faster can we go?", because there's commitments as well at the board level saying, you know, "What are you guys doing and how are you transforming?" But I wouldn't do anything over so far. So far it's been fantastic. >> You know It strikes me that when you put in a robot, and automate a process, you're saving for an individual, and arm or a leg, you know, Lots of arms and legs. How have you thought about virtualizing those arms and legs into a team that can really drive this to your last point, through the organization, to keep that momentum going? >> Yeah, that's what we're looking in now, right? We want to look at that digital roadmap and say, not arms and legs, but we actually want to look at real resources and that doesn't necessarily mean a resource reduction, it just means being able to scale and do things more efficiently and hopefully, redeploy those resources to do stuff that requires a brain, right? >> Ashim, I'm curious. Do you have some tools to help customers as to how they scale and grow and keep the momentum going? It reminds me of a rocket going on, you've got those booster levels, and you want to reach escape velocity but then probably, keep accelerating. >> Yeah, so you'll start seeing our platform expanding this. At this conference, and Daniel must have talked about it, we launched UiPath Go. Getting openness and collaboration within organizations and across organizations, that's really what our Go platform will enable people to do. Sharing automations, learning best practices, being able to connect with different companies, different partners at a fast pace, that's so important because there's not a cookie cutter approach to this, we need collective knowledge to ramp up the speed and then, slowly by slowly, the features that we're starting to do: sharable libraries within the platform, you're going to see other process discovery type automations come out or tools that we're starting to roll out to our customers. And then we have events. Yesterday, Courtney was a part of our customer advisory counsel. It is incredible, when you put customers like Courtney in a room, who are so passionate and are incredible, sharing what's working and what's not and everybody leaves saying, "Okay, these are the two things that I'm either" "going to look out for or that I'm going" "to do differently to make sure the journey happens ahead." Those are just a few. >> Courtney, Daniel was on earlier today and we were asking him to give some advice to these young people, you know, he's kind of inspirational. He talked about this morning in his keynote about people laughed him out of their office and so forth. And one of the things he said is, "I didn't think big enough," "I started to think bigger, you got to think bigger." So as you put on your think-big hat, where do you think this could go? >> So I really see UiPath and RPA collaborating, right? I mean, we were investing in a lot of smart tools and I want to see how all of those tools can work together. I don't want it to be just UiPath or just another tool, or workflow tool. I want to see how they can all, because to me, that's where the value really comes in. I mean if you're leveraging best-of-breed options and best-of-breed tools and then we can say, "How do all of these work together?" That's transformational. So, really, at the end of next year, what I want my team and what I want my leaders to say is, "Wow. They have really transformed the way that we work" "and the way that we do business." To me, that's a win. If Ashim can make me successful in that, I'll be a happy camper. >> Awesome, guys, thanks so much for coming on theCUBE, we really appreciate it. We're seeing some of these trends that we talked about: the productivity gap, we have more jobs than we have employees to fill those jobs. The productivity line's not moving. RPA and the ascendancy of RPAs promises to change that and we'll be covering that ongoing. You're watching theCUBE live from UiPath Forward Americas. Stu Miniman And Dave Vellante. We will be right back.

>> From theCUBE Studios in Palo Alto in Boston, bringing you data-driven insights from theCUBE and ETR. This is Breaking Analysis with Dave Vellante. >> Like a marathon runner pumped up on adrenaline, UiPath sprinted to the lead in what is surely going to be a long journey toward enabling the modern automated enterprise. Now, in doing so the company has established itself as a leader in enterprise automation while at the same time, it got out over its skis on critical execution items and it disappointed investors along the way. In our view, the company has plenty of upside potential, but will have to slog through its current challenges, including restructuring its go-to market, prioritizing investments, balancing growth with profitability and dealing with a very difficult macro environment. Hello and welcome to this week's Wikibon Cube insights powered by ETR. In this Breaking Analysis and ahead of Forward 5, UiPath's big customer event, we once again dig into RPA and automation leader, UiPath, to share our most current data and view of the company's prospects relative to the competition and the market overall. Now, since the pandemic, four sectors have consistently outperformed in the overall spending landscape in the ETR dataset, cloud, containers, machine learning/AI, and robotic process automation. For the first time in a long time ML and AI and RPA have dropped below the elevated 40% line shown in this ETR graph with the red dotted line. The data here plots the net score or spending momentum for each sector with we put in video conferencing, we added it in simply to provide height to the vertical access. Now, you see those squiggly lines, they show the pattern for ML/AI and RPA, and they demonstrate the downward trajectory over time with only the most current period dropping below the 40% net score mark. While this is not surprising, it underscores one component of the macro headwinds facing all companies generally and UiPath specifically, that is the discretionary nature of certain technology investments. This has been a topic of conversation on theCUBE since the spring spanning data players like Mongo and Snowflake, the cloud, security, and other sectors. The point is ML/AI and RPA appear to be more discretionary than certain sectors, including cloud. Containers most likely benefit from the fact that much of the activity is spending on internal resources, staff like developers as much of the action in containers is free and open source. Now, security is not shown on this graphic, but as we've reported extensively in the last week at CrowdStrike's Falcon conference, security is somewhat less discretionary than other sectors. Now, as it relates to the big four that we've been highlighting since the pandemic hit, we're starting to see priorities shift from strategic investments like AI and automation to more tactical areas to keep the lights on. UiPath has not been immune to this downward pressure, but the company is still able to show some impressive metrics. Here's a snapshot chart from its investor deck. For the first time UiPath's ARR has surpassed $1 billion. The company now has more than 10,000 customers with a large number generating more than $100,000 in ARR. While not shown in this data, UiPath reported this month in its second quarter close that it had $191 million plus ARR customers, which is up 13% sequentially from its Q1. As well, the company's NRR is over 130%, which is very solid and underscores the low churn that we've previously reported for the company. But with that increased ARR comes slower growth. Here's some data we compiled that shows the dramatic growth in ARR, the blue bars, compared with the rapid deceleration and growth. That's the orange line on the right hand access there. For the first time UiPath's ARR growth dipped below 50% last quarter. Now, we've projected 34% and 25% respectively for the company's Q3 in Q4, which is slightly higher than the upper range of UiPath's CFO, Ashim Gupta's guidance from the last earnings call. That still puts UiPath exiting its fiscal year at a 25% ARR growth rate. While it's not unexpected that a company reaching $1 billion in ARR, that milestone, will begin to show lower, slower growth, net new ARR is well off its fiscal year '22 levels. The other perhaps more concerning factor is the company, despite strong 80% gross margins, remains unprofitable and free cash flow negative. New CEO, Rob Enslin, has emphasized the focus on profitability, and we'd like to see a consistent and more disciplined Rule of 40 or Rule of 45 to 50 type of performance going forward. As a result of this decelerating growth and lowered guidance stemming from significant macro challenges including currency fluctuations and weaker demand, especially in Europe and EP and inconsistent performance, the stock, as shown here, has been on a steady decline. What all growth stocks are facing, you know, challenges relative to inflation, rising interest rates, and looming recession, but as seen here, UiPath has significantly underperformed relative to the tech-heavy NASDAQ. UiPath has admitted to execution challenges, and it has brought in an expanded management team to facilitate its sales transition and desire to become a more strategic platform play versus a tactical point product. Now, adding to this challenge of foreign exchange issues, as we've previously reported unlike most high flying tech companies from Silicon Valley, UiPath has a much larger proportion of its business coming from locations outside of the United States, around 50% of its revenue, in fact. Because it prices in local currencies, when you convert back to appreciated dollars, there are less of them, and that weighs down on revenue. Now, we asked Breaking Analysis contributor, Chip Simonton, for his take on this stock, and he told us, "From a technical standpoint, there's really not much you can say, it just looks like a falling knife. It's trading at an all time low but that doesn't mean it can't go lower. New management with a good product is always a positive with a stock like this, but this is just a bad environment for UiPath and all growth stocks really, and," he added, "95% of money managers have never operated in this type of environment before. So that creates more uncertainty. There will be a bottom, but picking it in this high-inflation, high-interest rate world hasn't worked too well lately. There's really no floor to these stocks that don't have earnings, until you start to trade to cash levels." Well, okay, let's see, UiPath has $1.6 billion in cash in the balance sheet and no debt, so we're a long ways off from that target, the cash value with its current $7 billion valuation. You have to go back to April 2019 to UiPaths Series D to find a $7 billion valuation. So Simonton says, "The stock still could go lower." The valuation range for this stock has been quite remarkable from around $50 billion last May to $7 billion today. That's quite a swing. And the spending data from ETR sort of supports this story. This graphic here shows the net score or spending momentum granularity for UiPath. The lime green is new additions to the platform. The forest green is spending 6% or more. The gray is flat spending. The pink is spending down 6% or worse. And the bright red is churn. Subtract the red from the green and you get net score, which is that blue line. The yellow line is pervasiveness within the data set. Now, that yellow line is skewed somewhat because of Microsoft citations. There's a belief from some that competition from Microsoft is the reason for UiPath's troubles, but Microsoft is really delivering RPA for individuals and isn't an enterprise automation platform at least not today, but it's Microsoft, so you can't discount their presence in the market. And it probably is having some impact, but we think there are many other factors weighing on UiPath. Now, this is data through the July survey but taking a glimpse at the early October returns they're trending with the arrows, meaning less green more gray and red, which is going to lower UiPath's overall net score, which is consistent with the macro headwinds and the business performance that it's been seeing. Now, nonetheless, UiPath continues to get high marks from its customers, and relative to it's peers it maintains a leadership position. So this chart from ETR, shows net score or spending velocity in the vertical access, an overlap or presence in the dataset on the horizontal access. Microsoft continues to have a big presence, and as we mentioned, somewhat skews the data. UiPath has maintained its lead relative to automation anywhere on the horizontal access, and remains ahead of the legacy pack of business process and other RPA vendors. Solonis has popped up in the ETR data set recently as a process mining player and has a pretty high net score. It's a critical space UiPath has entered, via its acquisition of ProcessGold back in October 2019. Now, you can also see what we did is we added in the Gartner Magic Quadrant for robotic process automation. We didn't blow it up here but we circled the position of UiPath. You can see it's leading in both the vertical and the horizontal access, ahead of automation anywhere as well as Microsoft and others. Now, we're still not seeing the likes of SAP, Service Now, and Salesforce showing up in the ETR data, but these enterprise software vendors are in a reasonable position to capitalize on automation opportunities within their installed basis. This is why it's so important that UiPath transitions to an enterprise-wide horizontal play that can cut across multiple ERP, CRM, HCM, and service management platforms. While the big software companies can add automation to their respective stovepipes, and they're doing that, UiPath's opportunity is to bring automation to enable enterprises to build on top of and across these SaaS platforms that most companies are running. Now, on the chart, you see the red arrows slanting down. That signifies the expected trend from the upcoming October ETR survey, which is currently in the field and will run through early next month. Suffice it to say that there is downward spending pressure across the board, and we would expect most of these names, including UiPath, to dip below the 40% dotted line. Now, as it relates to the conversation about platform versus product, let's dig into that a bit more. Here's a graphic from UiPath's investor deck that underscores the move from product to platform. UiPath has expanded its platform from its initial on-prem point product to focus on automating tasks for individuals and back offices to a cloud-first platform approach. The company has added in technology from a number of acquisitions and added organically to those. These include, the previously mentioned, ProcessGold for process discovery, process documentation from the acquisition of StepShot, API automation via the acquisition of Cloud Elements, to its more recent acquisition of Re:infer, a natural language processing specialist. Now, we expect the platform to be a big focus of discussion at Forward 5 next week in Las Vegas. So let's close in on our expectations for the three-day event next week at the Venetian. UiPath's user conference has grown over the years and the Venetian should be by far be the biggest and most heavily attended in the company's history. We expect UiPath to really emphasize the role of automation, specifically in the context of digital transformation, and how UiPath has evolved, again, from point product to platform to support digital transformation. Expect to focus on platform maturity. When UiPath announced its platform intentions back in 2019, which was the last physical face-to-face customer event prior to COVID, it essentially was laying out a statement of direction. And over the past three years, it has matured the platform and taken it from vision to reality. You know, I said the last event, actually, the last event was 2021. Of course, theCUBE was there at the Bellagio in Las Vegas. But prior to that, 2019 is when they laid out that platform vision. Now, in a conjunction with this evolution, the company has evolved its partnerships, pairing up with the likes of Snowflake and the data cloud, CrowdStrike, to provide better security, and, of course, the big Global System Integrators, to help implement enterprise automation. And this is where we expect to hear a lot from customers. I've heard, there'll be over 100 speaking at the show about the outcomes and how they're digitally transforming. Now, I mentioned earlier that we haven't seen the big ERP and enterprise software companies show up yet in the ETR data, but believe me they're out there and they're selling automation and RPA and they're competing. So expect UiPath to position themselves and deposition those companies. Position UiPath as a layer above these bespoke platforms shown here on number four. With process discovery and task discovery, building automation across enterprise apps, and operationalizing process workflows as a horizontal play. And I'm sure there'll be some new graphics on this platform that we can share after the event that will emphasize this positioning. And finally, as we showed earlier in the platform discussion, we expect to hear a lot about the new platform capabilities and use cases, and not just RPA, but process mining, testing, testing automation, which is a new vector of growth for UiPath, document processing. And also, we expect UiPath to address its low code development capabilities to expand the number of people in the organization that can create automation capabilities and automations. Those domain experts is what we're talking about here that deeply understand the business but aren't software engineers. Enabling them is going to be really important, and we expect to hear more about that. And we expect this conference to set the tone for a new chapter in UiPath's history. The company's second in-person gathering, but the first one was last October. So really this is going to be sort of a build upon that, and many in-person events. For the first time this year, UiPath was one of the first to bring back its physical event, but we expect it to be bigger than what was at the Bellagio, and a lot of people were concerned about traveling. Although UiPath got a lot of customers there, but I think they're going to really up the game in terms of attendance this year. And really, that comparison is unfair because UiPath, again, it was sort of the middle of COVID last year. But anyway, we expect this new operations and go-to-market oriented focus from co-CEO, Rob Enslin, and new sales management, we're going to be, you know, hearing from them. And the so-called adult supervision has really been lacking at UiPath, historically. Daniel Dines will no doubt continue to have a big presence at the event and at the company. He's not a figurehead by any means. He's got a deep understanding of the product and the market and we'll be interviewing both Daniel and Rob Enslin on theCUBE to find out how they see the future. So tune in next week, or if you're in Las Vegas, definitely stop by theCUBE. If you're not go to thecube.net, you'll be able to watch all of our coverage. Okay, we're going to leave it there today. I want to thank Chip Simonton again for his input to today's episode. Thanks to Alex Morrison who's on production and manages our podcasts. Ken Schiffman, as well, from our Boston office, our Boston studio. Kristen Martin, and Cheryl Knight, they helped get the word out on social media and in our newsletters. And Rob Hof is our editor in chief over at SiliconANGLE that does some great editing. Thanks all. Remember, these episodes are all available as podcasts wherever you listen. All you got to do is search Breaking Analysis Podcasts. I publish each week on wikibon.com and siliconangle.com, and you could email me at david.vellante@siliconangle.com or DM me @dvellante. If you got anything interesting, I'll respond. If not, please keep trying, or comment on my LinkedIn post and please do check out etr.ai for the best survey data in the enterprise tech business. This is Dave Vellante for theCUBE insights powered by ETR. Thanks for watching, and we'll see you next time on Breaking Analysis. (gentle techno music)