Azeem Azhar

Line is still going up.

There is still strong incentive by signals.

Balance sheets of the big tech companies are not strained at this point.

There's a lot of capital in the world.

You just saw Meta do a debt deal, even though it's got tons of cash on its balance sheet, a debt deal to fund some data center expansions.

So there's still enough vertical momentum, I think, for this to run for a little while.

And then when bubbles do burst, if they burst, they don't happen immediately, right?

So the popping of the dot-com in April 2000 took a while to get to its bottom.

And so that's why I think 27, 28, if that scenario happens.

Of course, there's going to be over-excitement in investment and over-exuberance.

But because of the scale of customer demand from consumers and enterprises, and because enterprises, when they get this right, and many of them are getting it right, want more and more and more,

suggests that we've got something that's actually driven by fundamental business value rather than by speculative hype.

That is really everything that I have to say right now on Friday with Azeem on the 4th of July and a happy Independence Day to those of you who are celebrating.

I said I'd leave you with one question.

I mentioned that we are halfway between the year 2000 and the year 2050.

We're also halfway between 1950 and 2100.

But just looking at that first period between 2000 and 2050, the question I'm going to ask you is what different way will you look at the world with the recognition as of today that we're closer to the year 2050 than we are to the year 2000?

So what different way will you look at the world with the recognition that we are closer to the year 2050 than to the year 2000?

And with that, I will sign off.

All of you have a wonderful day, 4th of July.