Brad Zelnik: Thanks for that. And if I could just ask a follow up and something that I get asked about from investors. One of your smaller private competitors completed a Series C capital raise recently and I’ve just seen many markets where you have a venture backed player that can come, can enter and maybe more easily afford to operate at a loss and pressure price. Any thoughts or updates competitively and is this something that you worry about and that you face in the market? Thanks.
Jay Kreps: Yeah, you’re probably talking about Red, Red Panda. Yes we pay attention to any of the earlier competitors. We’ve had a sequence of those almost since the company started, Pulsar was the thing for a while and then kind of went away. There’s been other systems before that, so we pay attention to all of them. We compete very effectively with them even one of the customer stories today was actually a customer of theirs that was one of their reference customers that’s now customer of ours. And so, we feel good about that setup. Overall, if you look at what’s happening in the space that we’re in, there’s two big trends that I think actually make it hard for really any competitor, but particularly a smaller competitor.
The first is this movement to the cloud and the expectation on a true cloud native service, right, which is a really serious investment to build something like that. The second is the broadening of this space from kind of just Kafka to a full data streaming platform, like the full set of capabilities, kind of think of it as going from word versus word perfect to Microsoft Office, right? And you know if you look at those two trends, they’re just very strongly prevalent in the world and they’re actually hard for competitors to do, hard for some of the cloud players to do for a whole set of reasons, particularly hard for a smaller startup to do. You know I think we’re actually lucky to be at the scale to be able to sustain the investment to do both of those things right and kind of drive that progress forward and I think it’s exactly where this space is going and so that’s the bet that we’ve got and I think that sets us up well against the full spectrum of the competitive landscape.
Brad Zelnik: Excellent. Congrats all around. Thank you.
Operator: Thanks, Brad. We’ll take our next question from Rob Owens with Piper Sandler followed by Mizuho.
Rob Owens: Thanks, Shane and thanks guys for taking my question. Jay, appreciate the commentary around patience with regard to stream processing and budgets. But we’re curious if you could provide color around early adoption, just how long it takes some of these companies to migrate existing operations over to your service as we think about potentially that adoption curve?
Jay Kreps: Yes. Yes, there there’s kind of two patterns for adoption for US1 is. The net new use case of which there’s plenty happening even in a tighter economy. You know, Kafka open source adoption continues at pace and many, many use cases for that are actually just coming and directly starting on our cloud. That will be true for Flink and some of these other components as well. And then the conversions and the conversion, you know, it depends, you know the kind of bigger the setup that a company has, the more complicated that is, but they often move it a bit at a time. And so you know, we don’t have to kind of eat the apple all in one bite. And so yes, that that time frame depends there. There’s companies that are very disciplined.
