Joe Schmidt

And I think we're going to see it in HR.

And so that's the opportunity.

So I think there's two ways to answer that question.

One, there's the people that are going kind of after core HR and core payroll today.

And then there's kind of the orthogonal or adjacent opportunities.

Like, you know, obviously, Andreessen is, I think, the biggest investor in deal.

And I'm an enormous deal fan.

I think it's an incredible team.

They're not exactly doing this, you know, play, right?

So I think that like, that's just a separate kind of category in and of itself.

And I think maybe the company that builds this business that we're talking about in this post could be an amazing partner with deal

over time, right?

So I think that there's an opportunity there.

Then you talk about Gusto and the other people that are kind of building what I would call a greenfield type strategy for, you know, an HR system.

That is an opportunity, right?

We see that across many different categories.

Like we have businesses in our portfolio that are doing that for ERP, like Rillet.

There's companies that are going after that

for CRM, right?

There are businesses that are doing that in all these other categories.