Rob Walling

And I have seen businesses acquire.

We have, you know, 234 investments I'm in.

And I would say there's at least, it's more than 10% have a GMV component.

It's 20% feels high to me.

So let's just say 15% is going to put you at what, like 35, 38 companies.

And it's good revenue.

We

Usage-based is different, right?

I see we have folks who have SMS, they charge for SMS or charge for email sent or charge for whatever, and you'll see it's super spiky.

Even if the trend is that it grows over time, it's not nearly as smooth as customer GMV.

So think about my last SaaS company I did, which was Drip, email service provider, marketing automation.

We didn't

process payments.

So there was just no real opportunity to do a percentage of GMV.

And so we didn't charge it.

But if I had the opportunity, the option, and it made sense, given my product category, 100%, I would have that as a component of my pricing.

So thanks for that question.

I hope my thoughts were helpful.

And my last question of the day comes from Sean.

Thanks for this question, Sean.