All right, so good morning. My name's Chad Boninger. I'm broadcasting from my office in Alden Library to the three cohorts, AM cohorts in Copeland. So I've started recording here, so you'll have this recording to fall back on should you get lost during any of the things I wanna talk about today, okay? Some ground rules for today. I can't see you. I see a couple of people. I see like five people in AM 007 and about 12 people in 001. So I am basically talking to the void here, right? So it's a little bit challenging cause I can't see like when you nod your head in agreement that you're getting something or I can't see you start to doze off. So I need to pick up my game a little bit. I can't see you really react to my dad jokes, right? Anything like that. So that's a little bit challenging, okay?  Everything I wanna show you today is helpful, okay? It's all gonna help you save time and it's all gonna help you do better research in this project, okay? So I'm not showing you junk here. I'm showing you everything that I have up to this point that I think will benefit what you're doing on your project today, okay? So I'm going to show you my screen and all right. And so this is the library homepage. If you forget how to get there, just go to Ohio.edu slash library because there is one of me and there are a bunches of cluster students. I like to put everything that I know about a project in the appropriate research tools for the project on a webpage, okay? Couple ways to get there, okay? One, you can remember my name. Just go up here in the top right-hand corner of the search box on the library homepage. Click on search here and then just type in Chad, okay? And that will bring up my staff profile. Just click on me here, all right? And then click on this link to my subject and course guides, okay? So this is one way to get there, all right? And if you scroll down this page here, I have my guide to the personal fitness industry right here, okay? So that's one way to get there, all right? This is probably the best way to get here because if you happen to not make it that far but you just click on industry research because you're just doing industry stuff, you'll see that there are guides for specific industries right here and personal fitness is right there as well. So really, you can't really miss it either way, okay? So different ways to get to my content that way, all right? An alternate way to get there is if you, on the main search screen right here, you can go and change this to subject guides right here and then just type in something like fitness, okay? And that will bring up my guide there as well, okay? So it's really up to you as far as how you get to my guide, okay? So what I'm gonna show you is a few tools that I think will be very relevant to you all as you are doing your research, okay? Before I get too far ahead of myself, I wanna show you there is a contact chat link right here, all right, which will get you basically the different ways to contact me with questions and that sort of thing, okay? Typically email or chat is usually the best. I've got chat offline right now because it's hard to chat and present to 140 students at the same time. Typically email or chat or you can make an appointment right here. This will open up my calendar up to a, it looks like about a month in advance and so you can go in and book a time that you wanna talk to you about research and that kind of stuff, okay? If you're in a group, let me know how many so we can kind of find a room if we have a space in the building to house multiple people, okay? All right, so having said that, the way this guide is organized, we're gonna primarily focus on three sections today, the industry analysis section, the businesses section and the consumers and customers section, okay? For the local industry and local business and local consumer info, that's more of a project to kind of focus and we'll do that, I believe the week after spring break, we'll look at those tools and that's kind of stuff for that project, okay? So we're gonna start looking at industry analysis here and so I'm gonna show you a few tools that can kind of get you up and running for looking at industry analysis reports and statistics for the industry, okay? The first one that we're gonna look at is IbisWorld and let me log in here. All right, after I log in this one time, I shouldn't have to log in multiple times, okay? So IbisWorld just recently changed their interface, okay? This changed like as of like last week so I'm still not entirely used to it yet but what I try to do is give you some things in bold to kind of try searching for to get started, right? So I might look for fitness, all right? So here's like gym health and fitness club in the US, gym and fitness franchises, right? You might search for yoga, right? So here's like Pilati and yoga studios in the US, okay? So different things like that. So let's just look at a sample report here to kind of show you the type of content that you can find in an IbisWorld report, okay? It's a great report to kind of get started, right? And they just totally reorganize how this is done, okay? So you kind of see, you have what the industry is all about here, the definition, major players in the industry if there are any, right? So gym franchises, there might be Gold's Gym, Planet Fitness, things like that, right? Main activities, similar industries. Here we have a gym health and fitness club in the US which is a similar industry, right? Weight loss services also probably in the personal fitness industry, right? And over here on the left-hand side, we see that we have industry at a glance. We get like a SWOT analysis of the industry, right? Okay, we get, you know, how the industry structured. We get things like, you know, current performance. We get things like, you know, the outlook for the industry, things like that, okay? So it's a great kind of place to look for information about a particular industry, a great place to get started, okay? Particularly if you know nothing about an industry, it's a perennial favorite for looking at an industry, okay? Having said that, sometimes cluster of students tend to over-rely on IbisWorld, meaning that they cite it 120 times in their paper and they might cite every other resource like one time, right? So don't let IbisWorld write your whole paper for you, okay? It's a great tool, but don't overuse it for your project. You wanna make sure you got multiple perspectives on your project, okay? All right, so that's IbisWorld to get started there. So I give you some search terms, fitness, gym, yoga, training, et cetera, that can be useful. First research is a nice compliment to IbisWorld. This one's a little wacky when you first get here. You gotta click once. And I'm actually gonna blow my text up a little bit. Maybe that'll help you see a little bit better, hopefully. If you don't see that, you got problems. Let me see if I can't do something real quick once I pull this over here. Sorry, I'm working on two monitors and I wanna make sure I got the chat open in case you all have some issues. All right, so you gotta click continue and then click submit here. And then finally, we're gonna get into first research here, okay? And the way it works, if we go in and type in, for example, fitness or gym or health or weight loss or whatever, we're gonna get reports that look like this. So here's like fitness centers, okay? All right, and the nice thing about Ibis or first research, excuse me, is that it does give you a little bit more global perspective than IbisWorld. IbisWorld is primarily US information here, okay? So you get kind of a similar kind of information that you would find in what you find in IbisWorld there. So here we got a forecast, right? We're gonna have things like critical issues in the industry, business challenges, trends, that kind of stuff, okay? Now, if you look at first research's forecast versus IbisWorld, right? They're gonna differ, right? Because we have different analysts looking at kind of the same problem, right? But potentially forecasting in a different way, okay? So bear that in mind, all right? So just to think about that, okay? So the good kind of place to look for both kind of information as far as like getting up to date with what's going on in the industry, okay? All right, Statista is also another perennial favorite here. So Statista, as the name implies, is really good for like statistics and all kinds of things like that. So I'm just gonna search for, so if we type in fitness, here's like fitness industry, you see there's fitness club, fitness training, all these different kind of search suggestions for you. So here we have fitness equipment in the United States, wellness industry, fitness industry in Europe and China. So there's all kinds of stuff that we can look for, okay? So let's see, for example, here's fitness equipment in the US or number of US club, health clubs and fitness centers, 2000 to 2017. Let's look at that, for example. So this is kind of interesting. You know, we found a report like this, we can see that the increase, it's on the climb as far as numbers, right? You can download this as an Excel file or as a PNG to put in your PowerPoint. There's also, if you click on the details here, we'll give you ever the information about that, right? If we look at the source, if we click on the source link, a lot of times it'll actually link you to where they got the original report, original information. In this case, it's a bad example because it actually shows you a report that you got to buy for a price, but a lot of times it'll link you to a free report on the web. So statistic in a way kind of acts like a little mini Google, if you will, okay? So it's a cool resource to try to find additional information on a topic, okay? So here we see there's stuff on here, health and fitness clubs. If we click on there, it's gonna take you to kind of the parent topic of health and fitness clubs and that sort of thing in statistic. So you can kind of go down a pretty big wormhole here if you're not careful, but you can kind of go and see there's all kinds of stuff in here to find information about fitness clubs or the fitness industry, that sort of thing. It's a great place to kind of get started, okay? Piggybacking on that, if you wanna look for other information, we'll scroll down here, looking at articles and trade publications and that sort of thing. I don't have anything under my industry websites yet, but as I discover things, I'll put links here for you to look for. I think clubindustry.com is actually on my current list of things to add to this area down here, okay? But business source complete is a great place, especially for like your annotated bibliography project, right? This is a good place to go. If you wanna say, let's find articles about, for example, Planet Fitness, right? We can go and find articles about individual companies, about the industry as a whole, right? Things like that, okay? So it's a great place to go and look for information about companies like that. Or for example, if we look for, let's see, Beachbody, right? Is the company that owns like Sean, and all that kind of stuff, right? P90X or whatever that kind of stuff. So this will kind of give you articles about that kind of stuff. So it's a great way to go and find additional content out there on whether it's the industry or let's see if we search for CrossFit or different kind of trends in the industry, that kind of stuff, okay? So we find articles about that kind of stuff, okay? I'm gonna segue into looking at businesses and peers and competition within the industry, okay? Basically, we're looking for company information for particular companies, right? And you'll probably identify some of those companies as you're looking at the broader industry, okay? DMB Hoovers is a great place to start when you're looking at particular companies, right? We don't need that, we're good. And don't show me again, thank you. So if we wanna search for like some of the main competitors or our companies in the industry here, for example, here's Planet Fitness and Planet Fitness is a publicly held company, means it's traded on a stock exchange, right? Here we have information about Planet Fitness. If we want to, we can click on Fitness and Recreation Centers and that will give us more information about more companies within the industry, right? We have some of the analyst reports, market research reports here, stuff on Fitness and Recreational Sports Centers in the United States, right? So we get stuff that way. So there's lots of stuff you can go in and find information about either a individual company or the industry here in DMB Hoovers, okay? You get stuff like company news. It's a great way to kind of limit just to news about your companies in the area to kind of get a, how that's kind of clever. Planet Fitness calls bull fit on the Fitness industry, funny. So you get kind of different kind of information about news in the area about the particular company in the industry, that kind of stuff, okay? You can look at things like competitors or closest industry peers. We'll give you information as far as like, other companies that you may wanna be looking out for in the same arena as Planet Fitness, okay? So a great way to kind of get started with some of your general company information there, okay? The next one that is pretty good for general company stuff is Mergent Online. And we're just kind of the same way. If we go in and search for Planet Fitness and that totally blew up all those, there we go, that's a little bit better. Search for Planet Fitness, all right? So Planet Fitness, again, is trailing New York Stock Exchange, the publicly held company, right? So that's why it's in here, right? But a lot of times when we're doing kind of this granular level industry research, if we look at some of the larger companies, we can kind of identify industry trends according to those larger companies, okay? So here we say we get, for Planet Fitness, we get general company financials as far as how are they doing, right? So what's their sales like, things like that, okay? We get a decent list of competitors over here, another place to kind of identify peers in the industry, okay? So you get other places to look for. So I learned some things just by looking at this and found like Towns Sports International, which is a holding company for a lot of different fitness clubs in the Northeast and Mid-Atlantic of the US, right? So I never heard of that company ever, right? So it's a good way to kind of identify other companies in the industry sphere. Another thing to look at as well is under the Reports tab here, just kind of hitting some highlights for you, there are these Broker Research Reports, okay? And what these are, these are basically stock reports that analyze Planet Fitness from companies like Zaxx or Wright or JP Morgan, you've probably heard of them before, right? So these are all brokerage companies that are analyzing Planet Fitness as a stock, okay? So in many cases, these things will actually look at, look at how the company's doing in light of how the industry's doing, okay? So typically it's very stock focused, but you can get some, this is an example of one here, you can get some information about how the industry is doing, how the company compares to how the industry's doing, that sort of thing. In some cases you get some, it's more textual analysis than this one, this is more, you know, a lot of financial stuff, but here we have some key developments of what's going on in the company, you know, business summary of the company, things like that, okay, that would be useful to you, okay? So another place if you wanna get that granular into that kind of information, okay? All right, 10Ks, 10Ks are what public companies have to submit to the Securities Exchange Commission, right? The federal government made to say, hey, these are our disclosed financials, this is how we're doing business. These are really cool, you can use the Edgar search form right down here to search for 10Ks or search for companies, but to kinda give you an idea, I linked to two of them here, Nautilus, which is a home health fitness equipment company, right? And Planet Fitness, which is obviously a gym, right? So if we go here, this is gonna take us to Planet Fitness's 10K at the government website, right? And what I wanna look for specifically are these things that are called risk factors, okay? So the risk factors, whoops, I scrolled in too much, it took a little while to load, there we go. So risk factors is basically the company identifying the things that are kind of volatile in the industry, okay? So the company itself, in this case, Planet Fitness is identifying things that could harm their business, right? So it's a good place to kind of look for information. Again, not an industry report per se, like you find in Ibisworld, but it's a great place to kind of go in and look for information as far as what's going on in the overall industry that could affect their business, right? Okay. So a great place to look for that kind of stuff, all right? So finally, look at PrivCo real quick. PrivCo is really good for private companies, okay? In this case, we look at, log in here. If we look at a company like, I mentioned Beachbody earlier, Beachbody is actually a private company. If we look at Beachbody, here's Beachbody LLC. So this gives us basically, this is one of the few places that can give you some financial information, not necessarily all, but some financial information or total employees, that kind of stuff for privately held companies, okay? So Beachbody is one of the main kind of at home fitness. It's actually a multi-channel marketing kind of program, but it's a multi-level marketing, excuse me, program, but it's one of those places that is kind of in the rise as far as at home fitness kind of stuff, right? And you kind of see that their sales have shown that, right? As have their total number of employees. So this is a good place to look for information as far as how is the company growing? What kind of investments are they getting from seed funding or venture capitalists, that kind of stuff to see information like that, okay? All right, at this point, it would be where I'd ask you if you're okay and not to your head's nod and that kind of stuff, but since I can't see that, I'm gonna assume that we're still good to go. We're gonna segue into consumers and customers. All right, so I've got two areas in here that I wanna show you for, particularly for fitness and health clubs and that sort of thing. So when we're looking at industry analysis up here, these kind of things kind of cover the larger industry as a whole, whereas under the consumers and customers section, we're getting into what are called market research reports, right? Where they actually do consumer level surveys of people who use a particular product or engage in a particular activity, okay? The first example of this is a database called Mintel and it's especially useful for this project, I think, all right? So Mintel, if we were to buy a Mintel report on the open web, right? It would run the neighborhood of about $5,000 a piece, okay? So that's why we have this little Mintel I can make access splash here, we gotta scroll down and we got to agree here and click I accept and we'll finally get taken to the Mintel homepage, okay? Once it loads. All right, so the way Mintel works, you can kind of see Mintel covers lots of different kind of consumer areas from mattresses to food service to incontinence products, right? To, you know, information about hockey and Hispanics, right? So stuff all over the place, right? Added towards to its higher education, wine and spirits, things like that, okay? So what I found in bold here again, excuse me, is that there are some reports in here for things like, if we go up here and look right here as a search box, it kind of hides from you there. If we search for health, it should auto populate for us. Let's do health and fitness. They just changed their homepage like last week as well. So it's a great time to be teaching this stuff. So I'm just gonna search for health and fitness and see what we get here. It may be being a little sluggish for us as well. It's being really slow. All right, that's what I wanna look for here. So here's like health and fitness clubs, right? You'll also notice here is like active outdoor enthusiasts, right? Well, not necessarily a health club per se. Some people in personal fitness may engage in some of these activities as well. So it might be worth looking at as well, okay? Let's see what else we have. We got supplements, right? Healthy dining trends, health management trends, okay? Let's see. So we're getting personal health, right? So we've got all kinds of stuff in here that we can live for wellness trends to watch for in 2020. So we're finding some pretty good stuff. Wearable technology, and this is your Fitbits, your Garments, and your Apple Watches, that kind of stuff, right? Exercise trends, right? So we have all kinds of cool stuff in here that we can find. So let's look at this report for health and fitness clubs, okay? So what these reports are, they will survey typically about 2,000 people and ask them questions about their particular product category or interest or that sort of thing, okay?  I typically browse this this way. So you see there's stuff in here on, you know, market factors, market size and forecast, for example, right? We get stuff on major brands. So here we see this is an example of the overall market, how the market's growing, things like that. Total revenues and forecasts in the U.S., things like that, okay? If we look at the consumer, here we get into like your consumer demographics and psychographics, okay? So these are your things like, why does someone do things, you know? Why is someone motivated to go to a fitness facility versus go home, right? What are they doing instead of doing fitness or their alternatives, right? So these are their motivators, AKA psychographics, right? Why do people want to do this thing, right? So they want to go to look better, to relieve stress, improve their confidence, et cetera, et cetera. And so here we see things, you know, answers to these questions by demographics. Now we're mixing demographics with psychographics here in Mantell, okay? So it's a great place to get this kind of information. I also want to show you while we're in here, is for the newer reports, basically 2018 or so and beyond, this is the 2019 report, there's this thing called this interactive data book, okay? So if we want to say, let's look at motivators to go to a fitness facility, all right? Let's do that and click on go to data book and we are just going to continue here. And we're going to close that because we know what we're doing, okay? Basically, this gives us, I lost my, let's see, let's look at motivators to go to a fitness facility, okay? So this gives us information, let me try to zoom in a little bit here without breaking it, okay? So motivators to go to a fitness facility. They, so they asked people who said they had any club usage, why do you want to go, okay? So again, this looks pretty similar to what we've found in that report in the report section of Mantell. Now, what we can do over here is explore the demographics of that particular question, okay? So again, we're going to build a chart based on, okay, we're good, we're going to close that. We're building a chart based on demographics and demographics and the psychographics, right? So this is a way you can kind of go in and get information for that kind of stuff. We can also view this as a graph, right? Okay, so it's kind of a way that kind of you can share that. You can take a screenshot, make your own table, that kind of stuff with this kind of information. So it's a great way to kind of go in and look at information like that, okay? You could also go in Mantell here and search for specific brands, right? So you could search for Fitbit, Garmin, Weight Watchers, Planet Fitness, maybe CrossFit, those kind of things. So search for kind of those larger product categories as well to see if those bring up any other reports for you too, okay? So again, it's a great place to look for that real kind of consumer focused information, okay? All right, the last one we'll show you here it within the customer to consumer section is a database called Simmons Insights, okay? We'll probably get real granular in Simmons when we do project two, but I want to show you just kind of I want to show you just kind of a bird's eye view of how to use Simmons because some people use it for project one last semester, okay? And I do want to scroll down and show you that I've got some suggestions down here on how to search for specifically fitness and health information in Simmons. And these tips will continue to grow as I discover them as well, okay? So we're going to click on Simmons and log in here and we will proceed. All right, so the way Simmons loads, it loads in this cross tab section which is a little bit overkill for what we're doing for project one, okay? So you probably don't need to use this for project one for this section, okay? But what you're going to do is go under essentials and click on quick reports, okay? And I believe I have, yep, note for basic demographic profile, use the quick reports found under essentials, okay? So it's got that spelled out for you there too, all right? So we went to essentials, quick reports, boom, we're right here, okay? Now you can search right here, but sometimes searching here is a little bit challenging because you don't necessarily know what's in there, okay? And a couple of things I want to show you. You may say, well, you know what? I really want demographics of people who use the Peloton bike, okay? Well, if you look around a little bit, you probably start to think, well, this is 2016 data. Am I going to find information about people who use the Peloton bike? No, right? Because Peloton came on the scene, what, 2018, early or late or early 2019, right? So we're not going to be able to find information about that in here, okay? What we can do is what I'd encourage you to do is right here under all, rather than search, you're going to click here and we're going to look at the dictionary, okay? So this gives you an idea as far as how Simmons, now let me blow this up a little bit so we can try to see that a little bit better for you. So if we go here, click on Dictionary, it gives you a dropdown menu of basically all the stuff that Simmons asks questions about, okay? So what Simmons or what do they do? It's somewhat of mental, they survey, excuse me, survey consumers about different kind of products, categories and interests, okay? Now, for whatever reason, they put health and wellness and physical fitness and sports interest under entertainment and leisure, okay? So if we click there, we can scroll down, here's stuff on like physical fitness programs, right? So maybe you want to say physical fitness program, where did you exercise? Or let's look under sports and fitness, let's look at sports played every chance we get. Sorry about that. And if we scroll down, here's aerobics. Here is stationary bicycling. So these are people who like to stationary bicycle every chance they get, which means these are probably the same people who will probably be more inclined to buy a Peloton bike. Excuse me. So what we're going to do, we found this, we have to make it our target consumer. We're going to click on target, all right? We click on demographic profile, and we're going to click on the arrow to run our analysis. All right, so now what we get, we get demographics, including general statistics, education, ethnicity, race, income, age, gender, of people who say they ride a stationary bike every chance they get, okay? It's a great way to kind of look at people and see how this might match up, ideally with people who would potentially buy a Peloton bike or a Nautilus bike or that kind of stuff. Okay, it's a great way to do that kind of stuff, all right? There's not stuff in here on Fitbit, but there is stuff in here on, if you went in and searched for something like wearable, right? So here we have information on people who use a wearable tracker, right? Again, this is 2016, right? So bear that in mind, right? So it's a little bit different. The reason it's 2016 is because we have an academic license, okay? But here's demographics of people who in 2016 said that they have a wearable device. Okay, so it's a great way to kind of go in and look again for more information, more demographics on those kind of things. Again, if you go into the dictionary here, there's also in addition to the entertainment leisure section, there's a lifestyle statement section. And here we see here's stuff about diet and health, right? Might be worth looking at.  I agree a lot to these statements. Things like I'm in control of my weight, right? Let's see, I make sure I exercise regularly. I agree a lot that I make sure I exercise regularly. Let's see what that's all about. Let's use that as our target, all right? And we will run our analysis again here. And so here we have people who say they agree a lot that they exercise regularly, right? So you can kind of look at that information and get similar demographics for those kind of things, okay? So that's a kind of Simmons overview, kind of in a nutshell, all right? If I lost you there, what we did is we created a demographic profile which is linked right here, okay? This right here shows you exactly what I just did. So I've got a video tutorial here as well as a step-by-step on what we just did to create a demographic profile, okay? Kind of walks you through that kind of stuff, all right? Okay, as you have citation questions, if you click on APA citations here, I actually link right here to my friend Steve's guide on how to cite business databases in APA format, okay? And so he's got a nice PDF here that is well done. Basically it gives you examples of multiple types of databases, that kind of stuff inside an APA format, specifically for your answer bibliography and that kind of stuff, okay? My recommendation is basically be consistent, okay? Some of these things are very weird in there's no author, the title may be kind of like off, you know, or missing things like that. So just do your best, okay? Basically your instructors wanna know where did you get it, right? When was it made, right? Who made it, right? And where can I go find it if I want to trace back your research steps, right? So that's kind of the important thing about citing your stuff, okay? All right, so again, if you have questions, contact me, I'll be around. You know, usually make an appointment or send an email or use the chat function from online as well. All right, I'm going to stop right there and pause to see if there are any questions. If you have any questions from your room guys, you can either just use the mic or use the chat. Otherwise, I'm good here. So just let me know what y'all need in your rooms. I'm going to wait about five more seconds. Cool deal, looks like everybody's good. All right, thanks guys. Good luck your research and have a great day.


Hello and welcome to Capacity Middle East Extra, powered by JSA. I'm Dean Perine, Executive Vice President at JSA. And we are coming to you live, that's right. We are coming to you live from the luxurious Grand Hyatt Hotel and Conference Center in Dubai. It's the first time I've ever been to Dubai. We took a quick sightseeing tour and it's spectacular. It is. It really is. And joining me, and joining me, if you don't already know, is Vani Venkatesh. And Vani is the CEO of Global Business for Airtel Business. Vani, welcome to Capacity Middle East Extra, powered by JSA. We're glad you're here. Yeah, thank you. I'm equally glad that I'm here. Yeah.  Sure. And so as Dean kindly introduced me, my name is Vani and I run the global business for Airtel, so which effectively means that we serve all the customer needs, be it big tech, OTTs, carriers, next gen, people who wanna come to India, Africa or any other part of the world. So that's what we do. And a little bit about Airtel Business, we have a question that's unique in the sense that it's, we are the one stop technology shop for our enterprise customers, so be it connectivity, mobility, IoT, C pass, cloud, name it and we are the one stop shop. We also having a great journey of moving from a telco that we were earlier to a telco and that's a little bit of whom we are. Well, very good. So why don't we talk about India? I understand that there are a lot of, there's a lot of opportunity in India. Why don't you tell our viewers a little bit about what's going on with Airtel specifically in that region of the world? Yeah, so India obviously a ton of opportunity. We've seen data exploding, data and data growth exploding. So each consumer typically consumes about 18 gig of data, so that's large and you can therefore understand the amount of opportunity on the enterprise space. So over the last couple of years, we've seen a fair amount of big techs, OTTs coming into India, we've seen a lot of them. We have about 350 million eyeballs in India and about another 150 million in Africa. So that's about half a million eyeballs. Is that all? So far, we're not stopping. Yeah, so half a million eyeballs. We have data centers, a lot of data centers. So we have about 12 big core data centers and 120 edge data centers. We're also building another seven hyperscaler projects now in India. We're doing, we're gonna land to Africa in Africa, so we're gonna have four or five landing stations there. We have about three and a half thousand, 350,000 kilometers of fiber in India and around the world. So we basically use a bunch of infrastructure and have digital ecosystems or digital apps to power our enterprise consumers. So that's what we do in India. So it's a very exciting time. It's a growth economy. We are having fun. A growth economy, indeed it is. So let's talk a little bit about growth, specifically as it relates to your priorities. We are, here we are almost three months into the year. Why don't you tell our viewers a little bit about what your priorities are through the remainder of the year? Yeah, so there are four things that we're really focusing on. One is to continue investments. Network and infrastructure is the core of what we do. So we'll continue to invest in terrestrial fiber, subsea cables, whatever opportunities we have, wherever there's demand. So that's one. The second is partnerships. For the amount of data demand that's there, it's a very practicable for us to align with other like-minded partners who want to do the same. So we are going back on partnerships. The third is customer service. I think our consumers are demanding very differently and therefore our enterprises have to be enabled very differently. So we are raising the bar on customer service. And I guess one of the most important things we are doing is put together a digital ecosystem. So be it our cloud HCDN, right? Where we can actually get web and video delivery to the consumers closer to the edge, which enables our Big Tech, our IoT, or be it Airtel IQ, which is the world's only cloud-enabled C pass ecosystem, or be it 5G. So I think on the digital ecosystem, we are leveraging a network infrastructure to do all of that. So you've talked a lot about some of the growth drivers that we've been seeing and frankly have seen for ramping up quite literally over the last decade. So beyond maybe the proliferation of IoT devices and things like that, what do you see as some of those core growth drivers specifically in the region of this region of the world? Yeah. So I think there's a fair amount of cloud adoption, which is causing a lot of co-location needs and data center needs. We have our consumers wanting a very, very different level of delivery and level of service. And as a consequence of that, enterprises are powering the consumers very differently and therefore we're seeing some of the growth around the Edge CDNs, Edge network. We are seeing a lot of connectivity requirements with multiple diversity parts, right? So we are seeing all of that. We also seeing a fair amount of demand on sustainability. So everything we're doing, we are doing through green energy. We are actually tying up with renewable energy resources. So there's a bunch of things across the board that we are seeing really, really, really drive the demand. So you're the first person to actually mention, of course, we just really got started here just a couple of hours ago, but you mentioned sustainability. And you're right, we're hearing a lot about it. Why don't you tell our viewers a little bit about what they might be able to expect from Airtel in the kind of under the sustainability umbrella? Yeah, yeah, this is something very close to our heart. Sustainability is something very close to our heart. So I'll take our data centers and example. So we've put in all efforts to get net positive by about 2030, 2031. We are already upwards of 40% and we have some of our data centers, which are at about 90 to a percent, yeah. So we're working with the bloom energy and other renewable energy resources to make some of those happen. So we have liquid cooling technology and all the latest technology that's needed to make this happen. And we were committed to making sure that we leave the planet in a better way for the next generation as soon as possible. And a lot of the efforts that we're putting in now is in that direction because even in the data center, we're on the build stage. So it's a great time to make sure that some of these building blocks are sustainable and serve our consumers right. So yeah, it's a thing that we're very passionate about. I love it, I love it. So Bonnie, for our viewers that want to learn more about Airtel, where should they go? Yeah, but they should go to Airtel.in and they could go to the business section there and you will find a lot about us. Feel free to pull in your suggestions. We love to hear from you and become better every other day. And feel free to let us know what we can do for you and what we can do better. I love it, Bonnie. Thank you very much for bringing with us. Thank you, Dean, thank you. You bet. And thank you viewers for watching JSA live at Capacity Middle East Extra. Thanks for joining us.


talking tax with Tom, Tom Yamachika of the Hawaii Facts Foundation. Today we're going to talk about the physician shortage. I'm Jay Fidel. This is Sinclair Kauai and Scott Grosskreutz. Did I get that right? Yeah, I'm making a wild assumption. He's a doctor. Yeah, he's actually a radiologist and he joins us from Hilo, Hawaii today. So if he's going to help talk about our physician crisis and what we can do about it. Okay, well, we have a physician crisis. I wanted to say to start that a healthy patient depends on a healthy doctor and a healthy doctor depends on a healthy tax system. How do you like that? That's my words of wisdom for the day. So let's jump in, Tom. Let me ask you, do we have a healthy tax environment for doctors? Well, we don't. And let's put up a graph that shows why. The University of Hawaii had compiled some statistics about supply and demand for physicians in our fair state. And as you can see, the demand keeps going up and up and up and up and up. And the supply either is stagnant or goes in fits and starts and then starts trending downward and leading to an ever widening gap between physician supply and physician demand. And you know what that means, right? It means that when you want a doctor, you can't get one. Now, the trend is disturbing because to the extent there is a trend, it means that this is going to get worse. We know it's been getting worse for a long time. And I can remember, well, back in the 80s and 90s, when at one point there were no OBGYNs in Kauai, none, zero. And they said the reason was malpractice cases. But I'm sure it was more than that. And now it's that and much more. So Scott, what's your input on this? You observe it. You see it happening. Why is this happening? What are the current vectors? Well, Jen, practicing in Hawaii now for 35 years. And as you say, it's been a long-term crisis that's or shortage. And now it actually is becoming a healthcare crisis. So we've got shortages and positions as high as 1,000 physicians. We also don't have nearly enough APRNs and PAs. And to make things more challenging, we have about a quarter of the physicians in the state of Hawaii are past retirement age at age 65. Here on the big island, a third of us, myself included our past retirement age. And so we're relying on a lot of older physicians to keep the population cared for because we're having a great deal of difficulty recruiting and retaining new physicians out of training. And that's just a huge concern. It's a concern to the point where the president of the Health Care Association, Hawaii, said that we're having trouble staffing hospitals over the last several weeks and asked for emergency proclamation. Governor Ige granted a waiver for in-state licensing requirements for nursing and there was an immediate peril to public health. Our congressional delegation, especially a representative case and Senator Schatz have pointed out how access to care on the outer islands is really critical. Now the good news is that in Hawaii we have actually the best healthcare outcomes in the nation in recent years, which is wonderful. And that's due to the Prepaid Health Care Act, which Hawaii was a pioneer of and making sure people had insurance. And the others we just have a very good group of local providers, docs, nurses, APRNs that are caring for people. And once we lose those individuals, I think we're really going to be in trouble. But where Hawaii is kind of falling back, I think is rank number 31 right now in healthcare access, meaning when you need a physician or a healthcare provider, you can see that person. And what's going to happen, especially on the outer islands where there's far fewer providers than there are in Oahu, is that we're among the worst in the country, you know, for access to healthcare. There was a recent study of the 3,000 counties in the United States. And of the 3,000 counties, the big island had the third worst shortage, Maui had the fifth worst shortage, and Kauai had the 13th worst shortage of primary care physicians in America. So that just kind of shows you that relatively speaking now we've got a real problem on our hands. Well, just take a moment and delve into the individual doctor situation. Okay, what makes a doctor not want to practice? What makes the doctor want to leave for greener pastors elsewhere? And, you know, be part of the drain? Well, it probably depends on where that provider is in the course of their career. So usually these days, by the time you finish up with college, and medical school, and internship, and residency, and often a fellowship, you're in your early thirties, your debt indebtedness for educational loans is often, you know, a quarter million dollars or more, often it's as high as half a million dollars.  And, you know, it's kind of almost like an either or, and you certainly don't have enough money left over usually to start a private practice, which can, you know, cost, as you can imagine hundreds of thousands of dollars to get the facility and, you know, get it to hire your staff and everything like that. So for younger providers, it's really important that we train as many people as we can locally, because local people are much more likely to stay in practice in the long term in Hawaii, and that we enable them to remain financially viable during the early years in the practice when we have these heavy debt burdens to pay off. For positions who are in the mid-career or, you know, getting older, the real challenge is just staying financially viable in the state of Hawaii. So there's only two states in the US that tax patients for their healthcare needs. So one is New Mexico and the other is Hawaii, and that often has a huge impact on patients and their families say you develop renal failure and require dialysis, or perhaps your child develops leukemia, and you're looking at, you know, hundreds of thousands of dollars of healthcare costs.  And obviously, if you've got a significant medical problem, you're usually unable to work and pay those debts, you know. So, you know, that's a problem. Hawaii is the only American state that taxes Medicare, Medicaid and tricare. And for for Medicare, as you know, what's tricare? What's tricare? The insurance company for folks in the military. And they're their dependents. Okay, sorry. But so we have about 20% of our population J is on Medicare and about 30% is is in Medicaid. So for Medicaid, you know, we all earn that benefit by paying, you know, federal Medicaid payroll taxes or Medicare payroll taxes. So really, what Hawaii taxes Medicare benefits, what you're doing is it's a state tax on a federal tax. And one thing that that's a problem is the only state to tax Medicare, Medicaid and Medicare is that usually those those taxes cannot be passed on, you know, if you've got to get tax on a loaf of bread, you know, the the the bakery is going to pass that on to the consumer. But Medicare policies prohibit healthcare providers from passing these state taxes on to their healthcare. And we usually don't pass the get on to Medicaid patients because they can't afford it. So basically what's happening is healthcare providers are paying their patients get tax for half of our panels, half of our patient population.  And so in Hawaii, if you take care of Medicare and Medicaid patients, and then you're breaking even or losing money, you're still paying the GE tax and your gross income. So you're losing money caring for patients. And when you're in a position where you're losing money, caring for half the patients, you know, that in your in your panel, that makes it very hard for clinics to stay viable. There's the largest urgent care and primary care clinic on the North Shore of Kauai, Halea Medical Clinic, that's that's on the verge of going bankrupt, according to their CEO, they're losing $40 to $50,000 a month. And they're only keeping their head above water because of generous donors in the community right now, we have outpatient surgery, community surgery clinic in Hilo that's that also is been on the front page of the paper, because they may have to close. We're seeing a lot of physicians, unfortunately, close their practices and leave. There was one recent access to health care survey performed by the Hawaii Rural Health Association, when they queried providers, they said that up to half the physicians in the state were thinking about, you know, quitting practice, leaving the state or retiring. So it's, it's obviously a serious enough problem that it's it's time that we look at it, I think with with open eyes and try to find some solutions for it. One other thing I want to cover with you is is the the notion of consolidation. You know, there was a time when there were a lot of solo doctors working, you know, themselves out of their own offices. And that was the classic, you know, the classic arrangement. And that's not so much the case anymore, because doctors have gravitated into hospitals and larger structures. Why? And is that help or hurt? Well, let me let me kind of jump in here. There's one feature about the GT that hospitals have been taken advantage of. And that is, if you're organized as a tax exempt association, and all the hospitals in this state are, then you get an exemption from the GT on the on the gross amount of fees you get for for healthcare. Now, the same exemption would, at least in theory, apply to any hospital or medical clinic as long as it's not profit. So would it be possible to, you know, use that feature to take advantage of or take advantage of that feature to to help our physician practices stay afloat? I think those are those are excellent points.  And that practice model was becoming less common. For the first time last year, the American Medical Association stated that 40 only 49% of providers were in private practice. And hospitals, HMSA, Kaiser, you know, anything that's organization's got a nonprofit status, like Tom points out doesn't have to pay the get. And it was interesting that the president of the Health Care Association of Hawaii recently said that if the get were applied to Hawaii's hospitals to the health care provided in those settings, that many hospitals would have to limit their their services are possibly even closed down. So in effect, the get would be could be a death sentence for our hospitals if we put it on that sector of our health care community. Right, like there was there's actually one example. Recently, there was this hospital that opened up in in EFA on on our island here on Oahu. They were not a a nonprofit. And and they kind of spiraled down into bankruptcy. Yeah, so you can you can see that if that that's that's a case in point that if the hospitals were hit with the and the physicians that and nurses and everyone else that they employed that they were hit with the GT tax, they probably could not remain in business. The GT tax on the private sector is probably the equivalent of about a 13 to 15 percent, you know, tax because it's on your gross income and makes no no allowance for the fact that often you're providing charity care or you're breaking even, you know, taking care of folks on Medicare and Medicaid and things like that. So yeah, that's a real problem now as especially on the neighbor islands where the health care shortages are the worst. I mean, it was determined that a year ago about the big island had 53 percent shortage of physicians and Maui, I believe was 43 percent shortage. And then you have a situation where you have people leaving private practice. You know, sometimes the hospitals will hire these folks, but sometimes individuals are just turning they're doing tele radiology for the mainland, or they're you know, they're leaving the state to practice elsewhere because they can't make the practices work. And the real irony is that as the number of people in private practice continues to decrease, at some point, there will be no health care providers left to tax with the get. You know, so the get tax, if it has the intended effect, you know, which almost seems like, you know, to not have people in private practice, once those individuals leave, there will be no revenue from the state of Hawaii, you know, from taxing health care. Right after this show, I'm going to send my primary some roses. So, Tom, you know, what can we do about this? I know there are many, many vectors and factors that Scott's talking about historically and currently, but what can we do about this, for example, in the next session of the legislature to make it kinder and gentler for the medical profession in Hawaii? Well, the candidates who have been running for higher office have, you know, made noises about enacting some kind of exemption for food and or health care. I think they're going to kind of get a sticker shock when they find out how much this actually costs, because, you know, the GT does make a whole lot of money at a, you know, relatively low nominal rate. I mean, 4% is not what you see in sales tax states on the mainland, you know, in Nevada, California, like it's 8%, 9%. We're at 4%, but our tax brings in a hell of a lot more money than the sales tax states do, even with an 8% or 9% rate, you know, if you look at that. And that's, and the reason is because it's so broad and it reaches so many things and it even reaches, you know, things in overhead, like any business may have to pay overhead, like, you know, power, water, basic necessities, supplies, the GT is all there to grab some of that.  One of the exceptions is for Rx drugs, prescription drugs and prosthetic devices, but that doesn't help you if all you need is aspirin. Is Joe Biden's Inflation Reduction Act and the drug pollution going to help? Well, I'm sure it'll help on the base prices, but it doesn't help the tax. I mean, because it's a state tax and that's a federal program. You know, we've said this before in the state, which is primarily blue, you know, in democratic in both ways, capital D, small D. You know, it's just remarkable that we have a gross excise tax that is so regressive and that hurts the little people so much, including medicine. So, you know, one thing, one reaction I get from your comments, Scott, is that the medical profession in Hawaii for the benefit of it and for the benefit of all of us needs to have a champion that you're in crisis and you've been in crisis and it's getting worse because, you know, these factors, you know, exacerbate. And so, query, who is the champion? Or if there isn't one, how can there be one? Somebody ought to be out there really doing a job. For example, comes to mind the health department. But, you know, let's be candid. You need a champion to go and lobby and make some noise about this. Yeah, right, Jay. We do have an organization, the Hawaii Physician Shortage Crisis Task Force, kind of a long name, but it kind of lays it out there. We also have APRN and nurse members. And so, you know, we're a group of about 50 folks. We've also been in practice for many years trying to raise awareness of these issues. We, it's not like that I think that many of our lawmakers aren't familiar with these problems, but there's certainly, if the more you learn about this, the more it seems that there's a real need to make some changes. We did get a bill submitted in the 2020 session. It was SB 2542, which basically provided an exemption from the get tax for services from doctors and APRNs. And that passed the Senate without a single no vote. But when COVID hit, they didn't elect to hear it in the house that year, and it was not reintroduced last year. So it's, I think intellectually people understand that something needs to be done. It just has to be enough of priority. And perhaps the general public needs to kind of also talk to folks during this election cycle about their concerns. And this is a much bigger problem than just how this affects providers. That's actually the small part of it. As your audience will recognize, Hawaii's been losing population now for over half a decade. Last year, we lost over 10,000 people. And that is in large part due to the cost of many things of food, of healthcare, of housing. When it comes to food, like Tom pointed out, it gets a pyramid tax.  And Safeway pays the get, and Safeway sells it to you, and then you pay the get on that. But really, if we don't fix this problem, we're going to just see we have a worse access to healthcare. And you can take a look at the Department of Health statistics. The mortality, morbidity rates for all kinds of different conditions are higher than on the neighbor aisles in the Arnawaku. So the death rate from heart attack, and from trauma, and from suicide, and from diabetes, and from asthma, from hepatitis C.  There's substantially higher death rates from these many disease processes. If you live on Kauai or Maui or the big island compared to Oahu. So it's important that we fix that. And the other thing that I think that sometimes isn't really realized, and Mayor Rock made this comment and a meeting with us a number of months ago, if you don't have a viable healthcare system, it gets to be very difficult to basically try to recruit new industries or businesses in your area to provide good jobs for people. And I think that's really true. There was an AMA study on the national economic output of physicians and a single physician in a community basically results in increased economic aggregate output of over $3 million. And so if we were able to recruit 1,000 physicians, we would have about another $3 billion of aggregate economic activity. We have $17,000 in new jobs. And the increased state and local taxes could be as high as $127 million in just having the necessary healthcare providers that we need to provide care in the community. So I don't think it's an all-some game. I think that if we had a vibrant healthcare system and adequate access to care, it would benefit the state and overall be economically more healthy. Yeah. Well, the ghost of Christmas future is not very encouraging because you have implications all over the community and it's a spiral down. I mean, look, if I can't get access and I get sick and I become a burden, then it costs the state in other ways. Take care of me if I'm bankrupt and what have you. And if new entrants in business don't come here because they don't want to enter a market and they don't want their families entering a market that won't provide adequate healthcare, you have a whole spiral effect. It's not just me and the medical community, it's the state and the medical community. So it's the first community in general. That's right. Because if people are sick, they're not productive. You got to have them well to be productive and you have to have people who know about these diseases and can take care of these folks. But I want to point out that it's not just the gross excise tax. It's much more than that, even from Scott's comments. For example, suppose I went down to Cacaacoa and doubled the triple the size of the medical school right now today. Suppose I supported the tuition there. Suppose I incentivized them, the training of new doctors. Suppose I gave them special incentives to go to the neighbor islands and practice there for a period of years after they graduate, so forth. Suppose I incentivize hospitals. It's a matter of money. If the state puts some money into this, we could alleviate the problem, I think. Well, it's not only money. It's regulation, right? I mean, we have a system requiring certificates of what is it? CPC and certificate of need. Yes, certificate of need. So you need to go through regulation. I mean, healthcare is regulated. And if the regulators don't allow you to put up a clinic or expand an existing clinic, you can't do it. So that's another problem, independent of tax. One thing you alluded to, Scott, is think about reciprocality. So suppose I'm a doctor and I'll pick a state. I'll try to pick a blue state. I'll pick California. And gee, I want to have a little sunshine. So I'm interested in coming out if it's a decent pathway for me. But reciprocality is not so easy, is it? Can I just come out from California and practice in Hawaii? Is there anything we can do to draw doctors and healthcare providers from other states? There could be. During the COVID pandemic, state licensure requirements were waived for doctors, nurses, and other providers just in order to get enough people to help take care of us here in Hawaii. The challenge is that the physician shortage is projected to be as high as 130,000 by about 2030 nationwide. And there's also projections of nurse shortages as high as perhaps even a million. And there's been some studies recently that were published that talked about the entire healthcare community in the US. And people are pretty toasty after COVID. COVID was a huge stress around the system. I mean, we lost some healthcare providers who died. We have others that have had long-haul COVID symptoms and others that are just kind of exhausted from the situation. So you're basically trying to attract more providers from a country where there's not any healthcare providers to attract from. So there are some things that you could do. There's a surprising number of physicians that graduate from medical schools in the US every year. And there's no residency slots for them. So it was a math problem. Somehow the federal government decided to allow more people to be trained in medical school than we have slots for them to complete their education. So we have thousands of licensed physicians that aren't able to complete their training. So Hawaii could step up more residency training programs. You know, the recent bill signed by the governor to increase the number of training slots for medical students and residents. I believe nurses as well. I mean, that's a step in the right direction.  And then again, we could be losing people to the mainland. Some of the big picture aspects about practicing Hawaii is that CMS treats Hawaii like a low-cost industrial state, like we're... CMS? CMS. Yeah, CMS, exactly. What is CMS? Center for Medicare and Medicaid Services. So that's the government agency that decides what individuals are going to get paid. And Alaska is kind of like Hawaii, where Alaska has got a population that's very isolated by geography, a lot of remote Indian villages and people on islands and things like that. And so the Alaska congressional delegation said, listen, we're so short of providers for our Medicare patients that we have to do something about that. So they got a bill passed, where basically they increase their payments per what they call RVU, a relative value unit by 50%. So in Alaska, they're making about 1.5 times what you would if you were a healthcare provider and APN or doctor in Hawaii. And so that's a real problem. We've got this very low reimbursement rate. The local payers tend to pay very close to Medicare rates. So there's no cushion like there is in the mainland. We're often private insurance companies pay substantially more. Then you've got very significant pre-authorization requirements, where in effect, every time the physician wants to prescribe a treatment or a diagnostic test or, of course, the therapy, they're kind of second-guessed by, often usually a vendor in some other state who's often not even a physician. And so I wouldn't be surprised if our local healthcare providers are perhaps wasting up to 15% to 20% of their time just trying to fight to get pre-authorizations done. And that's kind of demoralizing for a lot of healthcare providers too. And you go through all these years of training, you know your patient the best, you know current therapy, you know the national guidelines, and yet every time you make a decision about healthcare, you're being second-guessed, and often there's delays in that. Yeah, well it's easy to get inequitable, look what's happening on the mainland about abortion. It becomes inequitable so quickly when you let the government inside those physicians. One other thing I wanted to ask you about was some reference that I made earlier to what happens when there's too much tort litigation. Ergo, the expense of malpractice becomes unaffordable for doctors and so forth. And in this state, we haven't had tort reform as has existed in other states in a long time. What effect does that have? What effect would it have if we did have tort reform? I think it could be beneficial. Texas had a problem where they had a severe shortage of healthcare providers and they enacted tort reform and they substantially improved the number of people that were practicing in their community. So it had a big beneficial effect there. So that would be part of a global fix, Jake, to put tort reform in there with reasonable payments and fair taxation. The state really needs to increase revenue, which what I think is you have a progressive tax on those that hire income brackets. You don't prevent businesses from making a profit in the first place. And really kind of as a result of these various factors we're talking about out of all 50 states, Hawaii is dead last in the availability of providers to accept Medicare patients. And that we're behind all of their 49 states in the District of Columbia. And at a time again where half of our population is on Medicare and Medicaid, you can kind of see that that problem is going to get worse shortly. It looks like we really have to do some reorganization. Nationally, I think we should do some reorganization. We've been having shows with Canadians about the Canadian healthcare system and it strikes me as more equitable. It strikes me as more efficient. And there's access to everybody, which is really a wonderful thing. We haven't learned that yet. We're still fighting that battle. But query, what kind of reform could we do here in Hawaii? How much of that is tax and tax credits to the industry? What can we hear on this discussion, this show, talking tax with Tom? What can we recommend? Well, I think we need to kind of step off the gas pedal when it comes to taxing healthcare. I mean, there should be, I think, a realisation. I think there is a realisation that the problem is real, that the relief is necessary, that the physicians really are caught between a rock and a hard place. The rock being the low reimbursement rate in the hard place being the GET that's put on top of it. And the prohibition against passing it on to the consumer. So, yeah, something's got to give. And I think if we want, as a policy matter, to have docs in our state, we need to do something about this. Well, I put it to government. I've granted that the Trade Association, you're talking about Scott, is helpful. But it is self-interested, at least in the minds of the legislators. And we need champions here. We need the Department of Health, which is a huge juggernaut organisation. It has a huge number of people who are presumably able to do this. We need the governor, and he will be in likelihood a doctor, as you may recall, and hopefully he'll step forward understanding the problem and taking steps. But I think we need an all-hands-on-deck approach, and that includes champions at every level of government. Your final comments, Scott. I appreciate the opportunity to talk about these issues. They're complex, and hopefully this will help educate folks in Hawaii, particularly the general public, about these issues. And again, this is a problem that's just not affecting healthcare providers. It's just affecting the health of our communities, our family members. It's having a negative impact, I think, on the state. And the one thing I would kind of close with here is that the Hawaii Department of Taxation at their website on Tax Facts 98.1, it basically states that, yes, if you're on Medicare, Medicaid or TriCare, you will be assessed the get tax, and your provider will basically elect to pass it on to you. And just a warning for anybody that's starting practice in the state of Hawaii or moving here, you cannot do that. You cannot follow that guidance, because if you do, you'll be investigated by the Office of the Inspector General for Medicare fraud. So I think that's something that we should think about. We should not be promoting actions, I think, that could get folks in hot water. Because if one is investigating for Medicare fraud, that would probably be a career-ending event. And the last thing we could really afford is to lose any more providers. Yeah, true fact. Tom, your last thoughts? No, I think we really do have a problem, and we need to do something about it. If we want to keep our docs, and we want to keep our docs, we've got to do something about it. Our health depends on it. How about this? Our lives depend on it. Okay, you guys, we've got to go now, and me especially, I have to make the call to my florist. Thank you, thank you, Stan. Scott Gross-Kroiz and Tom Yamachika, Talking Tax with Tom. Aloha, you guys.