“And right now, we are not planning that that comes back for any reason, as we look into 2023.”

In context

“e targets. Thank you. Daniel Schulman: So let me start off and Gabs can come in. So first of all, Colin, I think it's a little bit too soon to have strong visibility into what 2023 will look like. Typically in a quarter, when you're a third of the way through it, you have pretty good visibility into what's going to happen in the quarter. But in the fourth quarter, that's not the case. It's really all about the holiday season. And what happens in five- or six-week, period, that's still ahead of us. But based on what we're seeing right now, based on external reports, based on our conversations with other ecommerce players you saw, another very large ecommerce player take down their revenues in the fourth quarter that we think that ecommerce is going to be pretty muted in the fourth quarter. And right now, we are not planning that that comes back for any reason, as we look into 2023. I think baseline ecommerce growth will be subdued. But I fully expect that we will outpace it. We've got quite a number of Braintree live to site with very large merchants coming up. Our checkout and digital wallet improvements are quite strong right now. And I'm really pleased with the indications from those initiatives. Obviously, Amazon, we'll see what happens with that but we have a lot of hope for that. And our deal with Apple will certainly be meaningful over at least the medium term on that. So still too early to call, we're going to be very conservative on our top-line assumptions, but we're going to build a ton of resilience into our model. We will adjust to potential lower growth environments, we can keep our OpEx very well controlled. We've demonstrated that now and will contin”