Caryn Seidman-Becker

And then the shipping and what are the losses?

Let's start with the total addressable market of if you had Amazon Prime, let's start with the art of the possible.

And if those people signed up and if they were stickier and if they did more, so what could that be?

What could the incremental margins be?

I did analyze org charts.

I would spend a lot more time on org charts and people and systems.

We are in the midst of changing our billing system to Stripe and we are super excited about it.

And the opportunity set there is important.

I remember every time someone had an SAP transition, like the stock blew up.

Understanding the culture and the people and the systems and the total addressable market and their penetration and then all the second derivatives of that.

And at any time, one metric can be a little wonky.

The question is, what is your ultimate thesis?

And is that derailing of it?

Nothing is straight up and to the right.

Almost nothing.

Maybe open AI is right now.

There is a lot of gyrations along the way.

To understand that those gyrations are part of business, we would go visit Kodak.

And ultimately, Kodak and Kmart and lots of companies, they can go away.

I live with that paranoia every day for 15 years.