Two thoughts here. One is that the collaboration or competition with hyperscale was alluded to that before with Microsoft. The other thing is the collaboration with integrators. I think that that will be important in that next phase. If we maybe double-click on the hyperscaler first, do you see them as a risk? Is Microsoft – and I think AWS also has a competing product. – something to worry about, in your opinion? If yes, why, or why not?

These platforms, where they will shear off some of Twilio's business perhaps, due to cost or ease of integration, probably won't eliminate Twilio entirely as a vendor, because of Twilio's broader reach and coverage and better maturity in the offering in some sense, and the ability for end customers to multi-source easily. Twilio will probably remain a vendor, although in many cases probably not the vendor of these services.