Luca Ferrari

It's a very good business with tens of millions of active users, very loyal users.

Again, there's a lot of selection bias.

People who want a Gmail have decades to go.

People who really love that particular experience, they have lots of stuff there.

And at the same time, we think, although the team has done a pretty good job, I think, at managing this business, there's a next level to be unlocked in terms of polishing the product, optimizing the offering, optimizing monetization.

It's just a very good business that I think superficially people think, oh, it's probably legacy old.

It's probably worth nothing.

But actually, it's a wonderful business.

And in fact, again,

I won't name names, but a lot of our companies in the broader messaging or email industry or segment, and if you just read the news, you would think are doing super well and they're much larger.

But actually, if you had access to user count, P&L, including in time, looking at trends, they are just not nearly as good.

It doesn't even begin to compare.

AOL is actually the fifth most used company.

email inbox in the Western world, which is something.

It's a pretty competitive category.

So is it Gmail?

No.

If Google ever wants to divest it, we'll be happy to take a look.

It's a very good business that will be even better, I hope, as we pour our hearts and souls into improving every facet of it.

I don't know that it's necessarily common because not all companies do that, but we have seen it and it's quite true.