So, the reality is, is that if we were running this business quarter-to-quarter, which we don’t, you would pull back. But the reality is, as Jeff said, after every recession there is a recovery. And the last thing you want to do is retrench in such a way that you are not going to be able to take advantage of the recovery. And that retrenchment, looks €“ it looks like layoffs that don’t make sense and pulling back on marketing and trying to hit an EPS number for a quarter or for a year that is irrelevant. What’s relevant is for a 172-year-old company to continue to grow over the medium and long-term. And the way you do that is you invest judiciously and you invest smartly. And in times when things are bad, you invest in your infrastructure, you invest in your people because you are going to need great people through when a recession is over, and your infrastructure is going to need to do that.
And where companies make mistakes is let go of great people, and also do not invest in those things, they are going to need six months to nine months from now when the recession is over. So, yes, we may have a moment in time, as Jeff said, it could be six months, it could be 6 years, but there will be a time when we don’t make that. And €“ but there will be a time where we exceed that. And that’s why we say our long-term aspiration is for 10%-plus growth in revenue, and we feel we are on a way to that.
Operator: Thank you. The next question is coming from Rick Shane of JPMorgan. Please go ahead.
Rick Shane: Thanks for taking my question. Look, when we look at Slide 5, it’s really interesting in terms of the contribution and the significant growth from millennials and Gen Z. You guys have been really successful there. And we have seen that progress over time. I am curious, given that the millennial Gen Z growth in the last year was basically 5x, 4x to 5x other cohorts and the significant loan growth. If we looked at this distribution by age cohort, not for build business, but by portfolio in terms of borrowings, what the distribution would look like with millennials over-index versus the peers?
Jeff Campbell: Well, the short answer, Rick, is no. When you think about the behavior of the millennials and Gen Zs, there are a few distinguishing features, and we have talked about these. They tend to be more digitally and engaged. They tend to be more engaged with the overall value proposition, which we actually see as a good thing. Because of that, they often will engage more quickly when they get the new product. But I would also remind you of the other stat we have talked about this morning, which is 70% of our growth in loans right now is coming from existing customer facilities. We add a lot of these millennials there. That segment is still not adding as much to the loan growth because of the rebuild imbalances by your existing customers.
So, while the behaviors of the younger card members are on average, similar to the older card members when you think about borrowing, just sort of the math here because you have got this rebuilding effect would say that they are not driving that bigger portion of our loan growth.
