Chuck Robbins

And we just had a major shift in how our customers consume it, which is great for us in the long term that they're buying more cloud-based solutions.

But it creates a little bit of a challenge on revenue during the quarter.

The good news is the networking business is doing incredibly well and can cover that for us.

I think the big things that we did, we obviously introduced a lot more software into our portfolio in areas that are strategic, like security.

And the Splunk acquisition has been a great one.

I think the other thing that's worth calling out is this investment that we started in 2016, to be clear, on our silicon strategy that is absolutely the reason that we're having success today in the hyperscaler space.

If we did not have our silicon,

and develop and design our own silicon, we wouldn't be participating at all.

It's just black and white.

And so as we look at both internal innovation as well as inorganic opportunities, we're very focused on security.

We're very focused on AI.

We've made some tech and talent deals.

Anything that can help us accelerate our solutions in those areas, we're open to look at.

Chuck, I do not apologize for this next question.

Oh, it's just, it's so funny.

Look, the customers that are buying the predominant amount of this technology have incredible balance sheets, have incredible cash flow, have incredible profitability.

I think Caroline said it.

They actually pay their bills, and so...

And they view it as an existential issue for them.

That's a really key element.