“But after the two years, it should come down.”

In context

“ring more money into the ecosystem. But the team is a really, really exciting road map for '25, as we start to really think about what are the other needs -- once this money is in the ecosystem of Venmo. What are the other needs that our customers have to be able to enable them to be able to spend in an omnichannel way and obviously move money across each other. So exciting about what Venmo will have, and we've built a very good baseline of monetization throughout '24, which sets us up well for '25. Jamie Miller : Good. And then with respect to CapEx, we are seeing, over the next two years, an increase in the program to about $200 million to $300 million. And it relates to tech infra build-out and data center build-out in connection with both platform consolidation and a few other things. But after the two years, it should come down. Operator: The next question comes from Darrin Peller with Wolfe Research. Your line is open. Darrin Peller : Yeah. Thanks guys. Jamie, I think you said you would expect stable branded growth through '25, based on what you're -- what's built into your outlook. You guys have initiatives now where 25% of your checkout experience is on the more modern checkout, which I know has kind of ramped through the end of last year and were there now, and so it should impact, I think. The debit card is more further out. Marketing has been more substantial. I guess I'm just curious when those initiatives you think would have a more material impact. Or are they embedded in your outlook that they could have an impact on branded acceleration as the year progresses? Are you just building in uncertainty aroun”