Wells Fargo TMT Summit

Event:  Wells Fargo TMT Summit

Date:  December 2, 2020

Phil Winslow:

Hello and welcome to the 4th annual Wells Fargo TMT. My name's Phil Winslow, I'm the software list here at Wells Fargo and very excited to have, one of my favorite companies joining us. You know, Microsoft in a long time fan obviously been a big fan of Azure. I was just looking at some notes. I think this is my 10th anniversary of being an Azure bull and so very excited to welcome. Julia White, corporate vice president of Azure Marketing. Julia, thanks for joining us.

Julia White: I'm so glad to be here. Thanks for having me.

Phil Winslow:

Cool, well, just to kick things off, I wonder if you just level set things for everyone. can you tell us a little bit about your background, roles and responsibilities at Microsoft.

Julia White:

Absolutely. So I've been at Microsoft almost 20 years now, long time and the past six years I've been leading the Azure and server product marketing. So kind of all things that are Azure cloud services as well as things like Windows Server, SQL Server, Visual Studio developer, tool chain as well.

Phil Winslow:

So all the fun stuff. All the stuff I love. We're going to have a great conversation so I guess you know 2020, what do you guys seen so far? If I think back in April on your fiscal Q3 earnings call, Satya noted that you seen to have two years of digital transformation the 1st two months of the pandemic. We're now 10 months now into the in the pandemic and we believe CIOs sort of reevaluate their strategies whereby no cloud is especially become a no go going forward. At least that's the one liner that we've been using. My two questions to you are can you talk about, the COVID-19 impact you on Azure, how it's evolved over the past 10 months and what are your customers and partners telling you?

Julia White:

Yeah, I know it's been a wild ride, to say the least. I mean, and it's I mean first, stepping back and seeing and working with customers who had already moved to cloud, that have already done a lot of work around digital capabilities. It is super clear that they've been able to be more agile, adjust, adapt to what's happened. So there's been this idea of digital transformation and how important digital capabilities are. I think what I've learned most is that it really does matter. This is a bit of pressure test, frankly, of whether that's proven to be true and it's and definitely seeing it in terms of agility, ability to switch and meet customers demands changing, definitely different

In terms of the overall trends. We're seeing one lot more urgency to the cloud. I mean everyone had a cloud plan is, you know, like it wasn't a no cloud, but it's now the urgency and then much bigger right. They were dabbling or having a very long plan now they're like bigger and faster. So that's certainly true and a lot of it what you know, why the agility to be able to scale up and down. A lot of customers were like God I wish I could scale down quickly in moments. So recognizing that. 

And a lot of cost management, being able going to cost optimized, not run servers at low capacity over the long run. So lots of that type of opportunity, but then also just need a lot more better capabilities.

Things like real time analytics, rapid app development. They just needed the cloud for those. So lots of those shifts and we can talk more about the specifics there. But I think the other thing is, the people always ask me like why isn't cloud adoption happen faster, sooner? And like it's just culture, like people, norms. And that to me is maybe the most dramatic thing that's changed with Covid. Right - around the IT norms or the culture or whatever reasons they didn't want to move faster.

Kind of, you know, blown away and so that's I think that's going to be one of the most durable shifts we've seen. Can continue to increase and be durable through this time. And of course, you know when I say that people are like great is Azure revenue going to spike then?

I have to remind myself that cloud consumption does take time. You know each of these projects as they start, whether it's a migration, a new app dev. They start small but they grow overtime, but to me it's an incredible strength of long-term growth when we see the increase of those projects and the size of those projects increasing as they go.

So and then I think the last bit is as we've looked at the different industries and how they're impacted. You know, the high impacted industries? Certainly a cloud adoption fell right. They cost optimized down. They did other things, but the impact the industries that were not as impacted absolutely spiked. So it kind of bounced off. And we're now actually seeing even the high impacted industries come back to more normal rates, and so it's starting to see that level off.

Phil Winslow:

Yeah, exactly. I mean when you're just talking quote from Mike Tyson, you went through my mind. Everybody has a plan until they get punched in the face. And that's sort of like I feel like about cloud migration and digital transformation, there was a plan right? Oh my gosh whatever my plan was, I need to accelerate it. Then that leads me to my next question about prioritization of digital transformation.

You can talk about what you're seeing from a project creation prioritization for perspective from your customers, has it evolved. How do you expect it to evolve in future and over the past ten months? What is surprised you the most about Azure?

Julia White:

OK, I'll pull that apart. So I say a couple of things that changed dramatically right away in the in terms of prioritization. So virtual desktop, right? Our services around Windows virtual desktop absolutely spiked as everyone went home, and needed to be working remotely. You know, along with Teams, obviously Microsoft Teams adoption. Our virtual desktop and our Teams integration works together. So we saw both that grow and again those were projects that underway.  But they become quickly the number one project.

Similarly security, and hackers never waste a good crisis. So around Covid we saw a lot of new different kinds of attacks, different kinds of techniques being used and so we saw a bunch of Azure security, having a broader enterprise mobility, security capabilities being put into place quickly.

Particularly with remote work, not everyone had done all the network security. All the endpoint security they needed to have that in place, so that certainly became a top priority from a project perspective.

Then the third one that was in the mix, but suddenly became more urgent was around rapid business process changes, right? You have line of business systems. You have ways you're doing work. You suddenly need to evolve those really quickly. Microsoft had this technology called Microsoft Power Apps a low code way to build applications and that became the favorite tool of choice too.

Whether it was hospitals trying to track PPE really quickly, or retailers moving to curbside pickup and remote checking. That type of experience even Starbucks doing mobile pick up in their app. Being able to do that in the low code way really quickly, so you had, maybe the nurses in the hospital figuring out the process versus needing professional developers. So with that we did put it big push around integrating Azure and our capabilities, whether it be data services or dev services with GitHub and Power Apps. So now we have this beautiful professional developer to low code experience based on the urgency. So that was certainly a big one, and then I think your question of what hasn't changed but maybe but is continuing at a strong pace is analytics.

Again the modernization of analytics was very much underway and is under way. A lot of people still sitting on old legacy systems that aren't keeping up. And Covid just put pressure on that right? Like people used to be fine that I got 60 day or 90 day old data, like no way. I need 12 hour data. And all my past forecasting models need to evolve and so that use of analytics and getting to modern analytics has continued to be quite strong.

I expect that one actually to be even continue to accelerate as we move forward. So certainly, hot area there and then the steady run rate business of migrations of existing systems, hybrid use cases. I think those are steady state. Certainly saw a lot of people quickly moved to backup disaster recovery in the cloud. But you know, run rate of migrations and cost optimization, super strong.

Phil Winslow:

I have to describe those two as the gateway drugs to the cloud and disaster recovery business continuity where I need for risk mitigation perspective to potentially use this capacity. Oh it maybe cheaper than I've been done had been doing before. It was better. So maybe I'll then talk about production workloads.

Julia White: Yeah it is a culture norm. That's a very culturally easy way to kind of start the journey. Right and very common

Phil Winslow: Yeah exactly. I'm sure Microsoft from a market perspective doesn't use gateway drug, but as an analyst I can call it that.

Switching gears, just a little bit, but will still obviously focus on Azure. You know, I think investors are always very much so almost solely focused on sort of headline Azure growth number. But I always say there's so much more to love here, but from your perspective, what are some of the most exciting emerging or critical but underappreciated parts of the Azure portfolio.

Julia White:

Yeah, it's such a vast portfolio so I love this question. So before I jump into that I would say though it is, first, while everyone loves the Azure number. It is important appreciate that the overall commercial cloud business over $15 billion this last quarter and grew over 30%. And so the thing I want to start with is Azure is a core part of our overall Microsoft cloud right? And that's across like Microsoft 365, Dynamics 365, Power Platform, GitHub and then of course all the underpinning of that being Azure.

And I think you're seeing us, and I mentioned the integration of GitHub and Power Apps, and Azure coming together to create these experiences. You're seeing us do more and more of that to provide those integrated solutions for customers. So I think that's a certainly something that's exciting and emerging, and maybe still underappreciated. So all three of those things, but really keeping an eye towards the Microsoft Cloud growth all up, and the Microsoft Cloud experience all up. So that was the first thing I might speak to then, within Azure, more specifically.

So you had had exciting, emerging and underappreciated. I'll break those down, I'd say, let's start with the critical but underappreciated. Azure SQL. It's a big business. It's a place where customers really look to us. The thing that's so strong there is, we taken our 30 year old database engine that we perfected and secured. And it's the same on-prem, the same in Azure is even same an edge. And so, you have this amazing capability and efficiency. The same skills, same systems being used anywhere as you build these distributed applications and distributed systems. So that's certainly a key opportunity around Azure.

Then, as I mentioned, the Windows virtual desktop VDI. Again not sexy, but huge percentage of people's existing data center footprint is on VDI and these opportunities to modernize them, move to a more capable platform, run it more cost effectively, certainly a big piece of it. So kind of the some underappreciated areas, maybe.

I think from the exciting category, analytics. It's been a long time coming at some level. Like of all the places that haven't modernized. But there's this moment of moving to a true cloud native analytics system and seeing that, we have things like Azure Synapse and Azure Power BI that can bring together a huge opportunity and the actual business. In fact that how much Microsoft CFO, cares about this? Know how much our business leaders care about this, because what it unlocks from an organizational decision making, actually making it much better informed decisions, database cultures. All of that is there.

Another area and building on that would be AI. So much opportunity in this. It's been again long journey on AI and what we're doing. But really seeing some phenom breakthroughs. I was just looking at the latest on our image recognition technology, where it kind of we used to be able to say oh look, it's two people talking on the webcast now. We're literally say, you know, this age, this gender, this person, is just amazing. You're thinking about so many different use cases, whether for help working with people who are visually impaired or just navigating the world. Really, starting to see that, and with that the responsible AI aspect of it right, the transparency in the models and data protection around the models, reducing bias and that category of things I think is very exciting on that one.

And then from the emerging category and things to keep your eye on the future, I would say mixed reality. That's a place where we've been long in, mixed reality. And you know, just like we've seen AI evolve from being this kind of sexy thing, just being something that's just part of every single application. We expect mixed reality to have the same thing, right? There's going to be an element of mixed reality. There's a need for mixed reality in almost any application you have. And as that gets easier, cloud services make that more native.

Then devices like HoloLens and others expand, it will become you know, more accessible to everybody. So that's and I think it's again been underway for a long time. But you can start to see how that's going to really take off.

Then more on the industrial side of things, is digital twins. And again, the idea of the next generation shift from IoT right where you have connected things. And this is essentially taking it to connected environments. So now you have whole systems and understanding how the system of connected things works together. How do you optimize it? How do you run it with greater insight How do you understand the overall environment that's connected on that part.

Then last but not least, but certainly further out, but massively profound is, quantum. And we're now 14 years into our quantum computing investment, amazingly enough, and you know, it'll be 14 more years too. But you know, building up the software? You know the software language, the development, the SDK, the simulation engine and getting all that ready for the quantum compute capability as well.

Phil Winslow:

Yep, in fact Saul Van Beurden , our head of technology, who kicked us off today that's one of the things he's been talking about since he got here. Every time I interviewed him, he is increasingly excited about, hey, Quantum is not here yet, but it's getting closer and sort of the pillar is the foundational layers are being put in place. He wrote a white paper at the bank about some of the things that quantum could mean. It definitely excited about that. OK, maybe I not will put that in the Azure numbers yet, but I'm excited about it nonetheless it was.

Julia White:

Interesting even on that when we have a quantum simulation engine, so it's running quantum algorithms just on classical compute. You know CPU, GPU, and we're actually seeing like remarkable breakthroughs are working with hospitals on MRI recognition. Like massive improvements, even though it's just simulating it. It's interesting. So yeah, a lot of potential there, but not yet in the numbers.

Phil Winslow:

Yeah, yes fascinating outlook. I’ll put that in the category, stay tuned. Obviously we just walk through the broad portfolio there. The follow up question is when thinking about where to invest. What is Microsoft framework for growth in operating investments, intermediate and long-term, especially for in the context of Azure's revenue, where do you think we should see increasing investments?  What areas do you think would we might see some deprioritizing.

Julia White:

Stepping back for a second, we look at the overall Azure total addressable market is about 4.5 trillion, right? So like massive just scratching the surface, so I always remind ourselves that there's still a ton of growth in the core business around compute for systems like hybrid cloud solution, running big SAP ERP systems in the cloud, high performance computing network, network security. So lots of growth and potential and investment, frankly in the core part of the business, which is still a healthy, healthy part of it.

From an increased perspective, as I referenced before, analytics lot of investment there, machine learning. Those two are both evolving and really maturing into broad TAM into themselves, and so I expect those to be good big workhorses overall as we move forward.

And then a few of the new areas, we've moved into our operators and helping telecom communications and operators. We've acquired Metaswitch and Affirmed Networks in that space as well. Some big investments there and really helping that segment, run and optimize into a digital world, Just like all the other industries, we moving digital transformation now in the operator space. And then working with them, whether it's 4G, 5G and beyond. Helping them modernize all of that.

Then also from a kind of increased investment area, cloud native app development. As you know, a lot of organizations have been, tweaking and modernizing and migrating application. But now it really like more and more like we need to just move to a full cloud native application capabilities like containers and Kubernetes, adding AI services into these applications in a really meaningful ways. I'm like if your application isn't leveraging AI in the next five years, it's going to be relevant. So you know, going deeper into the code, not just shifting it over and optimizing it, so that's certainly on the radar from an investment perspective.

And then you know it was actually from a IoT and edge perspective. Actually four years ago we announced our kind of $5 billion investments that was going to be spanned five years. So we're coming up on the last few years of that. But you know, that's a place where we've been long as well. You know, I think Satya three years ago, coined intelligent cloud, intelligent edge in that pattern. Investment well ahead of market, but continuing to be on that very important secular change on that.

And then you know there's not a lot to deprioritize in Azure. Like anyone, but it's a good problem, right? It's a high class problem of, you know, it's more about which growth opportunities are you going to wait on versus which ones are you going to go big on versus deprioritizing per se.

Phil Winslow:

Got it, and I just mentioned the edge. We wrote about that when my team and I came over to Wells Fargo January. You know three 3 1/2 years ago and I was like, I think there's this next platform shift coming. I don't know what it's called exactly. We were calling it fog or micro fog and then all of a sudden I was like, I'm not sure what this is, but it's going to be big and then I was sitting in Build and all of a sudden it was intelligent cloud intelligent edge. I'm like yes, first off it's better branding than microfog in the end. But I was maybe we're not crazy. Satya is even up on stage at Build talking about it. Soo I'm excited that they actually do point on the network side. I thought there was also going to be natural extension of edge. The role of the of 5G and the operators in an edge called to cloud world where they're kind of the you know, the glue.

Julia White:

Absolutely yeah. All those pieces have to come together and they are right? And not all here yet, but you start to see that you know that app pattern and that's you know the cloud and edge is it's really an art in our simple terms. An application pattern and the networking capability is what makes that feasible and interesting in a in a more compelling way.

Phil Winslow:

Yeah, I've actually argue sometimes that networking is actually the driver, sometimes of the of the platform shift in computing. If you think about it, you know client server was actually enabled, probably by Ethernet. If you had so, the connectivity layer is often the driver of the platform shipping.

Julia White: Or the bottleneck, one or the other, but yes.

Phil Winslow:

Yeah exactly so, but they work together. I do want to double click on hybrid cloud, multi cloud. Actually that was my original bull case 10 years ago on Microsoft was that, just that amazing relationship you have customers on premise, but also then extending that in into the cloud with Azure portability of you know called it code, tools, processes people. As customers increasingly embraced the cloud, how should we think about the growth of your on premise offerings and now hybrid and multi cloud comes into play.

Julia White:

Yeah, and you know, as you stated, we've always held it on premise, this cloud edge will be durable. And that there will be technology on premises and that's incredibly important, whether that's big servers, whether that's small devices, right and, but we continue to invest in our servers, create modern experiences like an example of Azure Stack HCI. Which is a Windows Server based capability that is perfect for modernizing on prem systems. Bringing down your on prem footprint, but like with cloud capabilities for disaster recovery and backup, those type of things so.

Bridging those two worlds and actually, a great stat is that over a third of our Windows Server and SQL Server enterprise customers are using our hybrid benefits to deploy to Azure. And that's a fantastic benefit, gives more value for your software assurance agreement on with your on premises servers, but also gives you benefit into the cloud. And that's the one where with that capability AWS is actually five times more expensive than Azure for running Windows Server and SQL Server. So it's a huge customer benefit as well. So it was the technology part of it. But it's also the business model part that supports it as well to ensure that customer value holistically.

Phil Winslow:

Yeah, one of the words I think that’s been probably the biggest change and maybe the most impactful change over the past 12-24 months has been the word multi. Yeah it's not just simply hybrid cloud but multi cloud feature. A couple questions here, what are you seeing in the field as the top reasons why customer strategies are shifting to multi cloud. And what do you think the implications for Azure are? In particularly, how do you sure you defend your mode in the world of multi cloud?

Julia White:

Yeah, multi cloud is the new the new term. I don't think it's a new reality, right? It's just a new term but it's alright, marketing person like those new terms. How do customers get their? Why do they get there? It is the common things I see or it's acquisitions right? I had I had one cloud strategy acquired or you know different cloud strategies come together. Super common.

There is some level of like hey, I don’t want to be all in one vendor. I'm going to distribute my cloud capabilities. But a lot of it, I would say is was very much bottoms up. Wasn't because there was a strategic decision to be multi cloud. It just kind of happened. My developer chose this my data science teams like that. You know these tend to be project by project decisions and so you might run your SAP system on one cloud and do data science projects on another cloud. And again based on the individual group that decided to do that.

And mostly when I talk to CIO CTO's, it kind of happens and they discovered themselves there versus it being super intentional. But I look at, that's exactly what on premises look like. You know the data centers are 40 years, there was like hey there were never homogeneous, lots of different systems, lots of different tools, you know, despite people's best intentions. It is a heterogeneous world and there always be, best to breed, best of suite, those kind of dynamics.

I don't think the cloud is going to be a lot different. And I think that, we've had that view and frankly, hybrid recognizes that view of that everything will not just sit in one big cloud. What we've tried to do is take our history really understanding hybrid, like working across different environments in a seamless fashion, not making people run two environments next to each other into what we're doing with multi cloud. And I think we have great wisdom to bring to bear on that. And from the infrastructure perspective, we've been doing Azure Stack for a long time where you can literally bring Azure infrastructure anywhere. Now we can do that at the software layer. Make this technology Azure Arc and essentially it enables the software capabilities of cloud to be run anywhere as well, so it's just matching the infa and the software so the data services, the developer services can also be move around. Today, the most exciting things customers are like great, I can run at in my on prem an my cloud like that's the most common, but I'm starting to see more of like oh I think I can run Azure SQL in a different cloud compute, OK, I'll do that. You know then and lots of different reasons. Reality are lots of enterprise customers are complicated and have lots of nuances and so this is just flexibility for them to do that.

Phil Winslow:

Yeah, definitely, going back the virtual build 2020. There's a lot of buzz around Azure Arc. I want to spend a moment on that. Maybe help investors understand, what Azure Arc is? Why is it important? And you touched on a little bit, but what is it enabled customers to do, moving forward.

Julia White:

Yeah, I know, I'm glad you asked because it is a bit of complicated area. So people can be like what are you talking about? So what Azure Arc. I'll break it down. It's two things. The first thing is that Azure Arc literally takes the management, the control plane, what's my policy is? How do I manage my virtual machines or my services and it extends it out of Azure. So what you used to manage all your resources in Azure, we just extend it out, so you can do that anywhere so it can be the same way you manage what sits on premises. It can be the same system manage is what systems run in AWS as an example, so it just extends Azure management plane. So you're setting policies globally. You're setting resource allocation globally, so that's the first part.

But because we then have this management plane that extends, what enables us to do a second thing, which is we call Arc enable, all of our Azure's software off, so all of our managed services can then run with that management plane, which means wherever Azure Arc resides, we can take our Azure services. So Azure SQL Database, Azure, Postgres database, another Kubernetes service can then also run wherever you want. So again common is like hey I want to run this on an edge device in some other location or I want to run it on premise or I want to I have a distributor app model, I want to put some of my data services or sitting in a different cloud - That type of flexibility is what it enables. So that's the core of what it is and just to make it real 'cause it's conceptual.  Siemens Healthineers, one of the world's largest medical equipment suppliers - what they've done is use Azure Arc to deploy updates consistently at scale from Azure to all of their medical equipment. This distributed all over the world, during the pandemic that needed to quickly update, imaging diagnostic equipment. Those type of things and they could do that remotely, and so there is a way to get managed from one place but across all of your systems.

Phil Winslow:

Alright, well we got 5 minutes left and so let's shift to the edge. As I mentioned earlier, have been a big fan, so I wonder if it is just an update, if you think about intelligent edge

where we are in the lifecycle of intelligent agent, how do you think about the opportunity for Microsoft and for Azure?

Julia White:

Yeah, I mean, I think you know we talked about it. It was an early idea, but that's were now becoming a bit more in the new normal and I was thinking about it like it's hard to think about an application being built today that doesn't have some combination of cloud, an edge technology, right?

Maybe people don't talk about it that way, or think about it that way, but maybe manufacturing plant, right? You have all these connected systems and of course using cloud for data and analytics. Even a big company we work with has their gas pumps at the fuel station connected so they can check for safety, if someone smoking while they're pumping up their gas, like those kind of things that say edge compute, working with the cloud compute. Or retail shelves and notify people that are out of stock cloud and edge contact with, delivery systems, smart appliances. All those are just examples of cloud and edge application patterns. Some of the code is sitting on that edge device. A lot of the code is sitting in the cloud and they're working in concert with each other. So if you think about it that way, it's very evolved again. The networking part of it as 5G emerges as we get that it'll become more and more capable to do those really ultra low latency requirements as well. That will also be another unlocking of that next step function.

But if I think about the maturity there from the edge device maturity, and that's certainly happening. And we're trying to help the industry with things like Azure Sphere. That is world class security even an MCU devices, ability to run full AI models on very small devices. They're getting high performance, are getting secure, they're getting cheap that unlocks that edge as part of it.

And then from the cloud perspective, our investments in IoT services, AI services, things like Azure Arc make that possible. So I'd say we are now into, not yet mainstream on this thing, but it's pretty much the kind of the new normal, as we move forward.

Phil Winslow:

Yeah, it feels like it's becoming more real. I’m thinking about the year after Satya unveiled, Azure IoT edge intelligent Edge, you start to have examples drone scanning pipelines looking for cracks, that was only just a year later. Know hearing about examples of drones swarms in Africa, just not doing that on the stage in Build, but actually really happening in real life. So it's pretty, incredible. The one question I have to is one of the things we talked about is potentially sort of a three tier model. Yeah, potentially evolving where you've got the centralized via cloud, ie, Azure you've got the device itself, maybe it's Azure IoT edge. Maybe it's running Azure Sphere, but we've also talked about the edge of the internet and this goes back to your kind of your network point. How do you think about call it a more distributed footprint. Because obviously we talk about hyperscale when it comes to Azure, but then you also think about the device itself, maybe it doesn't have enough compute power, but you know the centralized cloud and maybe it's too late and is there something kind of in between there and then? How do you think about sort of the distributed footprint for Azure relative, let's say what an edge or a CDN vendor might be doing.

Julia White:

Yeah, well, you have certainly seen us continue to expand our global regions right with over 60 now and we're not slowing down. That is multiple reasons, but one is having be able to serve our customers well, locally where they sit from a performance perspective, but also from a data privacy, data governance capability which is also become increasingly important. So both of those drivers are what's really a catalyst for our continued global expansion into, very broad regions of the world, so that's going to be an important part.

Certainly our work in partnership with the operators and we even have today are edge zones in terms of having working with the operators around our edge zones. You know our own edge zones, so continuing to expand even what the region looks like, certainly continue to see that evolve as well.

Phil Winslow:

Well now OK, we only got 2 minutes by I couldn't pass up to ask you this question xCloud, the obviously we've seen the role that Azure can you can play with xCloud. But especially with Microsoft strategy where I call it, content is king with Game Pass. Maybe we talk how xCloud can play a role here.

Julia White:

Yeah, well, xCloud possible with Azure and so this to me is an awesome One

Microsoft thing, where from a gaming perspective, our vision is to reach 3 billion gamers on the planet and we want to make Azure the platform for it. That's best for building game developers. Building your next fantastic game and so xCloud from world class game, streaming experience and the Xbox Game Pass leveraging Azure behind that obviously makes Azure better.

Even things about like our Xbox game studios. Minecraft, Halo, Gears of War all being built using Azure, makes Azure even more capable, but also helps, refine and think about what we offer from a game streaming perspective. So it is a place where being a first party in this in this gaming area actually is a wonderful kind of synergy with the platform powering it underneath. And the interesting thing too, it's super useful in gaming, but some of these games are some of the most high performance, low latency applications on the planet, right. The gamers tolerance for any lag is zero. So it really pushes the platform, really pushes Azure, but it's also great for if you want to run the NASDAQ on the cloud. Gosh, it has similar types of requirements and so it does have transferable benefits for broader industries versus just gaming.

Phil Winslow:

Awesome cool. Well that was super informative. Our 30 minutes went very fast, yeah? We talked a lot of things here and thankfully both of us talk pretty fast, then we want to go ahead recover a lot but enjoy it. Thank you for joining us virtually like I said, super informative and

We will be talking soon.

Julia White: Awesome, thank you so much for having me.