Sebastian Siemiatkowski

They stay about five years and then they move on, which is natural.

And then what we have said very clearly is that we're not gonna recruit.

So we're recruiting a little bit.

People then came again on exit, oh, it's not true.

Look, they're recruiting.

yes occasionally we hire somebody here and there but if you look at the neck you go to linkedin and look at the insights you're going to see how the company is shrinking the point is that we've shrank 50 but we also promised our employees which is very important we said guys this is going to mean we're going to do much more with much less people this is going to make more profit for us and you're going to share in that profit so our employee compensation has grown almost 50 per head during the same time so we have given a lot of that money back and that creates safety for employees they know that like

through this AI transformation and using these utilities, they are, you know, getting some of the benefit of it.

Well, I think it's very clear when we compare American companies to European companies, there's a huge difference.

I mean, I think that American companies are 5 to 10x more than European companies do.

And Klon, from that perspective, we're a European company.

We have come from very low levels.

We have increased because we need to stay competitive.

for talent and talent today can move between US and EU pretty easily with the help of companies.

But I still think also the thing that's going to happen, there's been these industries, they're called tech and they're called FIN, financial services.

They have all had this amazing thing, which is that you create this service and there's a huge switching cost.

So your customers can't really switch that easily.

And hence you create this money printing machine and then life is sweet.

And then you build these campuses and you play volleyball in your office and you go and get free lunches and you live off the spoils of this money printing machine in your basement.

And that's not how normal business work.

If you're in retail, if you run a restaurant, you freaking wake up every morning and you ask yourself, how do I put the right product in front of the right customer, bring them into my store so that I can actually sell them and make them happy and so forth.