Bailey Lipshultz

And maybe that's why we're seeing the stock down.

What do you want to say to investors?

One of the things I want to ask you, you know, you talk about supply chains.

Is the end game, Dan, we're talking to Dan Flournas, he's chief executive officer of Fastenal.

Is it about though largely reducing your exposure to China, which has been a pretty big one?

Yeah, whichever way the winds blow.

Hey, one of the things I want to ask you just big broadly, the earnings update today, you talked about the industrial environment still sluggish.

We've heard similar commentary on this persistent sluggishness elsewhere from manufacturers as well as caution around project delays.

At what point does this become something more worrying

than just sluggishness?

All right, one thing I want to ask you, because as you would imagine, I don't know how much of this is pervasive in your world, but AI is like the nonstop conversation that we are having, certainly when it comes to activity and market impact.

To what extent is AI maybe sucking up the oxygen in the economy?

Are you seeing any signs of that?

Or your world, they're going to still need what you guys supply, no matter what's going on with the AI spend and enthusiasm?

You've been at Fastenal for a long time.

You've seen different cycles.

How do you describe this one?

And again, just got about 20 seconds, if you could be very quickly, very quick.

That's right, Tim.

We're all over global business, finance, tech news, all as it is happening in real time.