And it will be harder and harder to credentialize things when they’re all kind of piece mill and totally personalized. So, I think grounding that, kind of the learning experience on branded credential learning, I think, is going to be key. I think the other major thing in terms €“ in addition to the, kind of learning being different and more interactive is the content generation. I mean, you can generate content far more quickly and productively than you can before. And people would say, Oh, gosh, but it can have a lot of mistakes in it. A human €“ at least if you’re dealing with quality institutions, a human is always going to look at it before the course gets published. So, I think it’s just going to, sort of super power instructional designers, it’s going to super power the people that prepare this, kind of content, but the quality stamp of institutions is going to be a big part of this.
And so, I actually think the cost of production of content will go way down and people will be looking with more, I think, seriousness at whether that the quality is maintained as the cost go own. Overall, if you could say, hey, Jeff, do you wish that GPT never existed, it only came out three years from now or now? I’d definitely say, now. I’m glad it’s here. I think it’s going to be exciting. I think it will be great for learners and I think it’s going to be relatively advantageous to Coursera.
Rishi Jaluria: Got it. That’s really helpful. And then, Ken, just a quick one for you. I really appreciate the kind of granularity in terms of how to think about the segment growth for this year. Drilling on to the Degrees side, glad to see we’re seeing an inflection in the back half of the year. Can you expand a little bit on what is giving you confidence in that? And maybe is there a certain set of macro expectations embedded in that or are you making the assumption about the, kind of countercyclical forces on degrees don’t change relative to what we’re seeing today? Thanks.
Ken Hahn: Sure, Rishi. Happy to do. Firstly, based on the revenue model, we have amazing visibility, whether it’s good or bad, around Degrees. And the vast majority of revenue will come from existing programs with wonderful visibility. It’s about filling those student cohorts . We’ve seen real improvements in our ability to fulfill. We have a number of new degrees rolling-out that we will be fulfilling. And so, the €“ really, any of my segments as far as the ability to look forward with certainty on a forecast degree is, in fact, the best. And so, we’re not relying on every €“ on any particular trending. That said, as we look forward to 2024 then, some of the programs in the pipeline, we’re pretty excited about with the changes that we’re seeing, but 2023, no matter what the revenue recognition, nothing is in the bag, but our visibility is quite high in degrees so that inflection after the first half, I have a very high level of confidence in.
Rishi Jaluria: Alright, great. That’s really helpful. Thank you guys.
Ken Hahn: Absolutely. Thank you, Rishi.
Cam Carey: That wraps the Q&A. A replay of this webcast will be available on our Investor Relations website, along with the transcript in the next 24 hours. We appreciate you joining us.
Operator: Thank you Ms. Carey. Ladies and gentlemen, again that does conclude Coursera’s fourth quarter and full-year 2022 earnings conference call. I like to thank you so much for joining us and wish you all a great remainder of today. Goodbye.
