David Solomon

I gave a commencement speech at Wharton last month, and one of the lines in the commencement speech was, the phone, the telephone is one of the greatest pieces of technology in the world.

You know, use it.

A telephone call to someone is 10 times more valuable than a text or an email.

My daughter says that's an unverified statistic, but I know that's true.

And it is.

If I call you personally on the phone, it's going to have a completely different impact than if I sent you a text or an email.

That's not going away.

I mean, I really believe, Joe, that's not going to go away.

Subtle changes, but you can't look at it in a vacuum.

So you said to me, I can be very detailed with you.

Yeah, please do.

You know, I think with all this stuff, it's nuanced details matter.

If you look over the last 10 years, I'd say what's happened is the amount of engineering talent we had at the firm grew materially on a relative basis to operational talent or client talent.

There are a variety of things that happened because of the pandemic that bloated or inflated hiring across all large enterprises.

And so if you say, since ChatGPT,

like if you take 2022 is that was like the high watermark of the bloat.

This is the problem.

The high watermark of the bloat.

Absolutely.

So, so if,