This is a black and white take that doesn't jive, additionally, we have the hindsight of history, both recent history and the history of other boom / bust cycles, that serve to validate. Our competitors wouldn't have zoomed past us. We have strong market presence and we bleed more users due to our own ineffectiveness than strictly from competitive pressure, and I can trace much of that ineffectiveness back to hiring practices from late 2020 to mid 2022. As I noted previously, we have a clear line of how this happened.

Generally speaking, a moderate growth strategy would have left us in a better place, and it was easy to see by the end of 2021 that things were going to change sooner rather than later. I'm not that smart, by my own admission, I'm a pretty dumb guy, but I put the pieces together by then by simply looking at where the money was coming from. There was no way the conditions of 2021 were going to continue at most past 2025 if you wanted to be an optimist, but realistically, it was coming down a lot sooner to anyone paying attention to how the money was flooding in, and I felt we would start to see some downturns in 2022 and 2023. As soon as the COVID relief stuff was announced to be ending, it should have been even more so, yet there wasn't a prevalent skepticism in the status quo until much later.