Sebastian Siemiatkowski

But in my opinion, he should have sticked the guns to doing that.

Jamie is now doing neobanking.

He's going in, but he's going in a bit later now.

And so you will see different banks.

I think some of them will reinvent themselves.

become neobanks, become tech-led, use AI to reinvent themselves.

Some of them will not, and they will with their way, right?

Which is always what's happening, the disruption of an industry.

So it will depend on the leadership of those financial institutions.

It's not entirely true.

There's also a little bit of media, but yes, there was some shares bought at 45 as well.

Yes, that's right.

I think that when you're in that kind of high growth phase, one thing to keep a close eye on is your multiple expansion going faster than what your revenue is growing.

If your revenue is growing faster than your multiples, then you're probably fine.

But if you start seeing the opposite, where multiples are expanding faster than revenue growth,

that may potentially be a problem longer term, right?

So I think today maybe that like I could have been more careful, specifically on the hiring side, because it was very sad and difficult to me to like a few quarters earlier be hiring at a high pace and then a few quarters later have to announce layoffs.

That I felt that like I should have predicted and been more cautious about.

I would be shit scared if he was.

No.