“And so obviously, we will see share gains first, usage first, then GM, then OPInc, right, like a classic P&L flow.”

In context

“ing these periods of transition, the way I think as shareholders, you may want to look at is what's the opportunity set ahead. We have a differentiated play to go after that opportunity set, which we believe we have. Both the opportunity set in terms of TAM is bigger, and our differentiation at the very start of a cycle, we feel we have a good lead and we have differentiated offerings up and down the stack. And so therefore, that's the sort of approach we're going to take, which is how do we maximize the return of that starting position for you all as shareholders long term. That's sort of where we look at it. And we'll manage the P&L carefully driving operating leverage in a disciplined way but not being shy of investing where we need to invest in order to grab the long-term opportunity. And so obviously, we will see share gains first, usage first, then GM, then OPInc, right, like a classic P&L flow. But we feel good about our position. Keith Bachman: All right. Many thanks for the answer. Brett Iversen: Thanks, Keith. Joe, next question, please. Operator: Our next question comes from the line of Karl Keirstead with UBS. Please proceed Karl Keirstead: Thanks. We've had a lot of questions on AI and Azure, so maybe just to round it out. Just on the Office 365 business, Amy. 16% constant currency guide for June, not really seeing much seat degradation despite obviously a tight labor market, so it's proven to be very resilient. Could you just unpack the sensitivity to that headcount reduction, given that across your customer base, at least slower rate of hiring, just given that this is an enormous seat-based business? It doesn't seem to be showing up. Maybe you could just help us understa”