Andrew Feldman

And if people don't want that, if you don't care about leather seats, and there are leather seats in the truck, there's extra cost in the truck.

And if people don't want that, if you don't care about leather seats, and there are leather seats in the truck, there's extra cost in the truck.

And when you buy the truck, you find somebody who's got a truck that's got Naugahyde seats.

And when you buy the truck, you find somebody who's got a truck that's got Naugahyde seats.

Our business, just because it's wrapped up in technology, is no different than any other business.

Our business, just because it's wrapped up in technology, is no different than any other business.

It's segmented.

It's segmented.

There's value.

There's value.

That value comes at a cost.

That value comes at a cost.

You have to make that value.

You have to make that value.

The hyperscalers make the value.

The hyperscalers make the value.

They make the value through software, through security, through having rules about their data centers, about the security, physical security, the various security checks they put in.

They make the value through software, through security, through having rules about their data centers, about the security, physical security, the various security checks they put in.

Those are enormously valuable to most parts of the market, but not all.

Those are enormously valuable to most parts of the market, but not all.