“We feel that it is absolutely derisked. We -- as you heard from Michelle and I, we have built a deterioration and conservatism in the back half of the year because we have taken into account uptick in both unemployment and delinquency rates, and therefore, have put out a guidance that we believe is the risk.”

In context

“htful about how we guide because we take our guidance very seriously. One of the things that we learned with Credit Karma is there are two factors that we look at but we did not take into account: one is unemployment, the other is delinquency rates. And what I mean by that, not taking it into account as we view it, we look at it, and they're at historical lows. And the one thing that we learned from this process, what we are adjusting and have adjusted our KPIs is just looking at where they are today, but also projecting where they could be a year from now and ultimately projecting what could happen if we were sitting in the shoes of some of the partners that are on our platform. So that is a very important shift, which actually gets at the point you made around our Credit Karma guidance. We feel that it is absolutely derisked. We -- as you heard from Michelle and I, we have built a deterioration and conservatism in the back half of the year because we have taken into account uptick in both unemployment and delinquency rates, and therefore, have put out a guidance that we believe is the risk. To go to the second part of your question, tax, which is 35% of the Company, that is really economically resilient. So let me focus my answer on Small Business. Because of our KPIs and the rich data that we have access to and what we see within Small Business, we actually feel like our guidance in Small Business is derisked because we make certain assumptions around how things will potentially play out the remainder of the year that we took into account when we set the initial guidance, and we still feel very good about the guidance. And you can see based on what we delivered in Q1, we can just do the math and see what it means for the rest of the year. So we feel very good about the way we set guidance in those two businesses. We feel very good about the guidance in those areas for the r”