Alec

Are there companies on the other hand, where you look at them and you're like, you might be ripe for disruption?

Yeah, I was about to ask that follow-up question.

So for context, Bryce and I have disagreed about Xero.

I have kind of had a view that switching costs are high, company's data is on there.

Bryce has a view that you could just have all your invoices saved on your computer and the agent could do the rest.

Yeah, it could do it.

Yeah, security.

It's never all out.

No, I know.

That's the thing.

Well, have you seen they're not releasing their new model until all the cybersecurity companies have a chance to understand it because it was finding too many security vulnerabilities?

I haven't seen that.

They've had to make a task force with CrowdStrike and stuff.

Let's stay on productivity because if the first half of this conversation has been quite negative, trying to talk about, you know, has it been oversold?

Where are the companies that are going to survive through this moment?

The final part of your report ends on a positive tone, which is that these software companies' best days are ahead of it.

And a lot of it is around productivity.

So give us the hopeful case as we look through this moment and where in particular are you seeing those pockets of hope and opportunity?

The flip side of the productivity conversation is some companies are redeploying that into more productive use.

Other companies are taking the opportunity to cut heads.