Okay, thanks Adam in the studio. We're here on the floor in Cloud City. You're in the middle of all the action. The keynotes are going on in the background. It's a packed house, I'm John Furrier. Dave Vellante's on assignment, digging in, getting those stories. He'll have the analysis. He'll be back on theCUBE, but I want to welcome Chloe Richardson, who has been holding down the main stage here in Cloud City with amazing content that she's been hosting. Chloe, great to see you. Thanks for coming on theCUBE and kicking it off day two with me. No, not at all. Thank you for having me. It's really exciting. What you guys have got over here, very fun. We're inside theCUBE. This is where all the action is. And also the Cloud City is really changing the game. If you look at what's going on here in Cloud City, it's pretty spectacular. No, I mean, the atmosphere is absolutely palpable, isn't it? You can just feel it as people walk in and see what the future looks like for the telecoms industry. It's really exciting. And you've been a great job on the main stage. We really love on your content. Let's get into some of the content here. Actually, the keynotes are going on. We're going to have DR maybe fly by the set later. We're going to check that out. But let's check out this video tape of, this is telcoDR. You got to check out this reel and we'll be right back. We'll talk about it. TelcoDR burst onto the global telecom scene this year, making headlines for taking over the huge Ericsson space at MWC 21 and for building Cloud City in just 100 days. But why did the company go to such trouble? And what is their unique offering to the telecoms industry? And what drives their dynamic CEO, Danielle Royston, or DR, as everyone calls her? Cloud City Live, caught up with DR, away from the hustle and bustle of the city to find out. Hi, I'm Danielle Royston, coming to you from beautiful Barcelona. I'm here for MWC 21. About 100 days ago, I decided to take over the iconic Ericsson booth to turn it into Cloud City. Cloud City has over 30 vendors and 70 demos to introduce telco to what I think is the future for our industry. We're gonna have three awesome experiences. We're gonna talk about the new subscriber experience. We're gonna talk about what's in store for the new network and the future of work. And I'm really excited to create a community and invite awesome telco executives to see this new future. It's been a really tough 18 months and we didn't know what MWC 21 was gonna be like in terms of attendance. And so from the get go, we plan this amazing experience that we call Cloud City Live. At Cloud City Live, we have two main components. We have the speaker series where we have over 50 speakers from Amazon, Google, Microsoft, as well as CSPs and awesome vendors talking about the public cloud and telco. The second part of Cloud City Live is the queue. Think of this as like an ESPN desk of awesome tech interviews focused on telco and the public cloud. Hosted by John Furrier and Dave Valente, Dave and John are gonna talk to a variety of guests focused on telco and the public cloud. It's a great way for our virtual participants to feel like they're at the show experiencing what's going on here. So excited to have them as part of the Cloud City booth. There's a ton of innovation going on in telco. And 20 years ago, Elon Musk said on his mission to Mars, I like Elon Musk. I'm on a quest to take telco to the public cloud. Every year at MWC, there's always a flurry of announcements. And this year is no different. At this year's MWC, to Togi, a startup that I invested $100 million in, will be launching. To Togi is introducing two products to the market this week at MWC. The first is a planetary scale charger.  The second product that to Togi is introducing is a planetary scale BSS system built on top of the TM form Open APIs. Both of these products will be available for viewing in the virtual booth, as well as on the show floor. The public cloud is an unstoppable megatrend that's coming to telco. I'm super excited to bring to you the vendors, the products, the demonstrations, and the speakers, both to people here in Barcelona and virtually around the world. Sonating insight into the origins of telco DR, why public cloud is going to truly disrupt the telecoms industry, and why DR herself is so passionate about it. If you'd like to find out more, come and see us at Cloud City. Okay, thanks for rolling that reel. Chloe, I mean, look at that reel.  I've seen a lot of power players in the industry. She's got guts and determination, and she's got a vision, and she's not just, you know, making noise about telco and cloud. This is actually a lot of real good vision there.  No, it really isn't. And for me, it's almost like the next moonshot. It's the moonshot of the telco world. She's innovative, she's exciting, and if we've learned anything over the last 18 months, it's that we need that in this industry to grow and for the future of the industry. So, so exciting. I think she's a real inspiration. And I love the fact that she so takes a tiger by the tail because the telco industry is being disrupted. She's just driving the bus here. And I remember, I did a story on Teresa Carlson who was with Amazon Web Services. She was running the public sector, and she was doing the same exact thing in that public sector role in DC and around the world. She opened up Regents in Bahrain, which as a woman, that was an amazing accomplishment. And she wasn't just a woman. She was just a power player, and she was exceptional leader. ICDR doing the same thing, and people aren't going to like that. I tell you right now. People are going to be like, whoa, what's going on here? No, of course, it's always the way with pioneers, so isn't it? People thinking, what is going on? We don't like change, why are we being shaken up? But actually afterwards, in retrospect, they think, oh, okay, I see why that happened, and we needed it. So really exciting stuff. Making things happen. That's what we're doing here in theCUBE. Obviously in the main stage, doing a great job. Let's go check out this highlight reel. If you're watching and you miss some of the action, this is obviously the physical event back since 2019 in February. But there's also a hybrid event, a lot of virtual action going on. So you got theCUBE virtual, you got a lot of content on virtual sites. In person here, we're going to go show you a highlight reel from what we did yesterday, what was happening around the show. Enjoy this quick highlight reel from yesterday. Okay, we're back here in theCUBE. We're on the main floor. I'm here with Chloe Richardson, who is emceeing, hosting, and driving the content on the Cloud City main stage. Chloe, it's been great here. I mean, so far day one. I was watching your presentations and it's fireside chats. You've been hosting awesome content.  Yeah, no for sure. We had Scott Brighton on yesterday who was our opening keynote on the live stage. And his session was all about the future of work, which is so relevant and so pertinent to now. And he talked about the way it's changing. And in 10 years, it's going to be a trillion dollar industry to be in the Cloud at work. So really interesting. I mean, yeah, the atmosphere here is great. Everyone's excited. It's new content every day. And that that's the thing. It's not stale content. It's stuff that people want to hear. People are here for the new hot trends, the new hot topics. Really exciting. Yeah, the next big thing. And also it's a physical event. So since 2019, this Mobile World Congress has been a massive event and hasn't happened since February 2019. That's a lot of time that's elapsed in the industry because of COVID and people are glad to be here. But a lot of stuff's changed. Yeah, it's a different world, right?  Everything has changed, digital transformation, migration, obviously cloud, which is what we're talking about over here at Cloud City Live.  It has changed in the last two years. We know that. But what about the future of Mobile World Congress? How do you see it changing in the next few years? Oh man, that's a great question. I mean, my observation, I've been coming to this show for a very long time over a decade and a half. And it's been a nerdy show about networks and telecom, which is basically radios and wireless and then mobile. It's very global, a lot of networks. But now it's evolving. And a lot of people are saying, and we were talking on theCUBE yesterday, Dave Vellante was commenting that this show is turning into a consumer-like show. So CES is the big consumer electronics show in the US and in Las Vegas every year. This show has got a vibe because all the technology from the cloud players and from the chips are getting smaller, faster, cheaper, more capability, lower power. So if you look at the chips, the hardware, it's less about the speeds and fees. It's more about the consumer experience. You got cars. I was talking to a guy yesterday. He said, vehicle e-commerce is coming.  And you could be on your app, driving down the freeway and go, hey, I want some food.  So that can be happening now in real time. You can do all kinds of other things. So a lot of new things are happening. Yeah, that's exciting. Do you see that as another disruption for the industry then? Is the fact that it's moving to be more consumer-focused? Is there anything we should be worried about in that space? Well, I think the incumbents are going to lose their position. So I think in any new shift, new brands come in out of nowhere. And it's the people that you don't think about. It's the company that you don't see. And we've got DR on the main stage right here. Look at this. We're sort of walking out of the confidence of a pro. Yeah. She just walked out there and she's not afraid. No, as she said in her video, she is ready to wake them up and you can see as soon as she walks out. That is what she tends to do today. I love her mojo. She's got a lot of energy. And back to the show. I mean, she's just an example of what I was saying. Like in every market shift, a new brand emerges.  They were going to run out of cash. When Steve Jobs brought back Apple, he consolidated and rebooted the company. The iPad was a seminal, iPod was a seminal moment. Then the iPhone, it's just a restless history. That kind of disruption is coming. You're going to see that here. Oh, it's exciting though, isn't it? To be future ready rather than future proof. But actually, I wanted to ask you something as well because we are seeing all these cloud players getting hot under the collar about Telco. Why are they so excited? What's the buzz about? Why, as you're in AWS and Google Cloud, why do they want to have a slice of the pie? Well, I think they're hot and heavy on the fact that Telco is a ripe opportunity. And it used to be this boring, slow-moving glacier. It's almost like global warming now, the icebergs are melting and it's going to just change. And because of the edge, 5G is not a consumer wireless thing. It's not like a better phone. It's a commercial opportunity because it's high bandwidth. We've all been to concerts or football games or sporting events where stadiums packed, everyone gets bars on their Wi-Fi, but can't get out. Can't upload their pictures to Instagram. Why? Because it's choking on the network. That's where 5G solves the problem. It brings a lot of bandwidth and that's going to bring the edge to life and that's money. So when you got money and greed and power, changing hands, it's on the table and the wheel's spinning and it could be double zero or it could be lucky seven. You don't know. And that's certainly enough to get all the big players hot and bothered about getting involved. And I suppose it circles back to the fact that DR is really leading the charge and they're probably thinking, okay, what's going on here? This is different. We want something new. You did notice an open run is something that we've been talking about over the last day or so. We've heard quite a few of our speakers over here at Cloud City Live mentioned open run. What is it all about, John? Because why all the buzz if 5G is such a hot topic? Why are we getting excited about open run? That's a great thing. 5G certainly is Google Drive the main trend for sure. Open run is essentially an answer to the fact that 5G is popular and they need more infrastructure. So open source, the Linux Foundation, has been the driver for most open source software. So they're trying to bring open software and open architectures to create more entrepreneurial activity around hardware and around infrastructure because we need more infrastructure. We need more antennas. We need more transceivers. We need more devices that could be open. So in order to do that, you got to open up the technology and you want to minimize the licensing and minimize a lot of these proprietary aspects. What have we looked at? So on Wednesday, we've got a great keynote from Philippe Longbois who is CEO and founder of P1 Security and he's coming to talk to us about cyber security within the cloud and within Telco. So you just mentioned there, open run is all about having open source, about having that space where we can share more efficiently and more easily. What does that mean for security though? Is it a risk? I think it's going to increase the value of security and minimize the threats because open source, even though it's open, the more people that are working on it, the more secure it could be. So yes, it could be more open in a sense that could be excluded by hackers, but it could be open to also protect. And I think we've seen open source and cloud in particular be more secure because everyone said cloud's not secure, open source isn't secure. And as it turns out, when the collective hive minds of developers work on things, it gets secure. And it is interesting, isn't it? Because we have seen that there has been an uptick in cyber security threats, but actually I was speaking to some leaders in across various industries and particularly in tech and they were saying, actually, there's not been an uptick in attempted threats. There's been an uptick because with this open source environment, we are able to track them and measure them and defend more efficiently. So actually, they're being batted away, but the number is probably the same as it always is. We just didn't know about them before we had this open source environment. There's more money in threats and there's more surface area. So as the tide rises, so do the threats. So on a net basis, it's more because there's more volume, but it's pretty much the same. And look at it, there's money involved. They are organized. There's a business model on attacking and getting the cash out of your bank or ransomware at an all time high. So this is like a big problem and it's beyond the government that's at individual freedom. So security is huge and I think open source and cloud are going to be, I think the answer to that. Yeah, for sure. And it's again about collaboration, isn't it? Which we talk about all the time, but without collaboration, the industries aren't going to be able to work together to promote this environment. So yeah, it should be good to talk from Philippa. I just say in security, don't download that PDF if you don't know where it came from. The phishing is always good. Well, we got some great stuff coming up. We're going to have a great day. We got a video here on Mobile World Live. We're going to show this next segment and we're going to toss it to a video. And this is really about to give the experience, Chloe, for people who aren't here, right? To get a feel for what's going on in Barcelona and all the action. And if you look at the video, enjoy it. I'm Danielle Royston, CEO and founder of TelcoDR. But you can call me DR. Ready for some more straight talk about Telco? It's go time. Let's do it.  It sure is a great time to be a tech company. I mean, if you're Amazon, Microsoft, Google, Grab, Twilio, DoorDash or Uber, life's pretty great. Just look at these stock prices over the past five years with their shareholder value going up and to the right. Totally amazing. But where's Telco? Dare I add our stocks to this awesome chart? Let's compare these fabulous tech stocks to AT&T, Vodafone, Telefonica, Tim, American Mobile and Zane Group. Huh, not so great, right? Yep, I'm talking directly to you, senior Telco execs.  Why is it that Wall Street doesn't see you as tech? Why aren't CSPs seen as driving all the tech change? Why is it always Apple, Amazon and Google who get the big buzz? But more importantly, why isn't it you? Before I came to this industry, I always thought of carriers as tech companies. I gave more of my money to AT&T than to Apple because I really cared about the quality of the network. But I also wondered why on earth the carriers allowed all the other tech companies to take center stage. After spending the last few years in Telco, I now understand why. It's because you are network people. You are not customer people.  It's crazy expensive to build a network and it's expensive to buy spectrum. It takes operational chops to run a killer network and it takes great skill to convince Wall Street to finance all of it. You Telco execs are amazing at all those things. But because you focus on the network, it means you don't focus on the customer. And so far, you haven't had to.  You don't have to be the best, just don't be last. Everyone else's NPS is in the 30s too. Their mobile operating are just as terrible as yours.  Let's talk about the cost of that. The cost is not measured on market share against other MNOs. The cost is measured in lost ARPU that the tech guys are getting. Everyone knows about the loss of texting to WeChat, WhatsApp and the other OTT apps. But it is not just texting. The total adjustable market or TAM of the mobile app disruptors is huge. Instead of remaining network focused, you should be leveraging your network into a premier position.  That is not what I'm talking about. I'm talking about love, customer love. There is one thing the highly valued tech companies all have in common. They all crush it on customer love. They look at every interaction with the customer and say, how do we make the customer love this? Like Netflix has easy monthly cancellation. Amazon does no questions asked returns. Uber gives users a real time view into driver rating and availability. Compare those ideas to the standard telco customer interaction. The highly valued tech companies don't have the network oligopoly to fall back on like you do. To survive, they must make customers love them. So they focus on it in a big way and it pays off. Their MPS is close to 70 and they have app ratings of 4.5 or higher. A far cry from your 30s MPS and app ratings of 3.5. If you wanna have those huge tech multiples for yourself, you have to start thinking about these guys as your new competition, not the other telcos in your market. The crazy thing is, if you give up using your network as a crutch and put all of your focus on the customer, then network becomes an asset worth more than all the super apps. Let's step back and talk about the value of super apps and becoming customer centric. Retooling around the customer is a huge change. So let's make sure it's worth it. We aren't talking about 25% improvement. I'm gonna show you that if you become customer centric, you can double your ARPU, double your valuation multiples and drive big shareholder value just like the tech companies on that chart. Now, let's talk about the customer focused super apps. There are hundreds of companies and a variety of categories vying for your subscribers disposable income, movies, food delivery, financial services. Who are they and why does Wall Street give them such high valuations and like them so much? Well, first, look at what they are telling Wall Street about their TAM. They broadcast ridiculously huge TAMs that are greater than the telco TAMs. You know who should have a ridiculously huge TAM? You, hello. What I'm saying is that if you've got what's yours, you double in size. And if you take the TAMs they throw around, you'd be five times as big. When I think about the opportunity to double ARPU without having to double the CapEx to build out the network, I say to myself, hell yeah, we should totally go do it and do whatever it takes to go get it. For example, let's talk about Grab. Grab is a Southeast Asian super app company with an expected $40 billion valuation. Grab's customer focus started in rideshare, but then leveraged its customer love into wallet deliveries, hospitality and investing. ARPU is now larger than the telcos ARPU in countries where they compete. And they have a higher valuation than those telcos too. Imagine if you could combine a great user experience with valuable services that helped grow your ARPU. That would be huge. So how do you build a super app? I bet right about now you're wishing you had a super app. Everyone wants a super app. A lot of money has been unsuccessfully spent by telcos trying to build their own. I bet you're saying to yourself, DR, your pie in the sky sounds great, but it has no chance of success. Well, I'm betting things are about to change. There is a public cloud startup called Tatogi that is gonna help carriers build world-class super apps. To have a successful super app, there is one key metric you need to know. It is the KPI that determines if your super app will be a success or a flop. It's not about the daily act of users. It's not the average order value. It's not even gross merchandise value. It's all about the frequency of use per day by the user. That's the metric that matters. How many of you use that metric in your telco apps? Do you have a team driving up user app interactions every day? Most telco apps are used for top-up or to check a bill. This is a huge missed opportunity. Super app companies excel at building great experiences and driving a huge amount of interactions. They have to. Their business depends on it. They have to be customer-focused. They have to keep bringing the user back to the app every day multiple times a day. And you know what? They do a great job. Customers love their super apps. They have great user experiences, like Apple credit cards, no information-required application process. They have high net promoter scores because of customer-friendly policies, like how DoorDash retroactively credits fees when you move to a better plan. And they have great App Store ratings because they do simple things, like remember your last order, or allow you to use the app rather than force you to call customer service. Customers of successful super apps love it when new services are added. And because of the customer love, every time something is added to the app, customers adopt it immediately. New services drive frequent daily user interactions. So our problem in telco is we have an app that is only open once per month, not multiple times per day. And without frequent opens, there is no super app. Hmm, what do we have in telco that we could use to help with this problem? I wonder, while you don't currently have a mobile app that subscribers use multiple times a day, you have something that's 10 times better. You have a network. Subscribers already interact with your network 10 times more frequently than any user with any of the super apps. But telcos don't leverage those interactions into the insanely valuable engagements they could be. Worse, even if you wanted to, your crappy over-customized on-premise solutions make it impossible. Thankfully, there's this new tech that's come around, you may have heard of it, the public cloud. When you bring the enabling technology of the public cloud, you can turn your network interactions into valuable super app interactions. And there's a special new startup that's gonna help you do it, Tatogi. Tatogi will leverage all those network interactions and turn them into valuable customer interactions. Let me repeat that. Tatogi will leverage all those network interactions and turn them into valuable customer interactions. Tatogi allows a carrier to leverage its network and all the network interactions into customer engagement. This is something the super apps don't have, but will wish they did. But this magic technology is not enough. Telcos also need to move from being network focused to being customer focused. Tatogi enables telcos to chase exciting revenue growth without that annoying massive capex investment. Tatogi is gonna help you transform your sucky mobile apps with the crappy customer ratings into something your subscribers want to open multiple times a day and become a platform for growth. I'm so excited about Tatogi, I'm investing $100 million into it. You heard me right, $100 million. Is this what it feels like to be SoftBank? I'm investing in Tatogi because it's gonna enable telcos to leverage the network interactions into super app usage, which will lead to an improved subscriber experience and will give you a massive jump in your arpu. And once you do that, all those telco evaluations will go from down here brrrr to up here. And so, I've been talking to some folks, you know, checking in, feeling them out, getting their thoughts. And I've been asking them, what do you think about telcos building super apps? And the response has been, click eh. Everyone says no way, telcos can't do it. Zero chance, total goose egg. One suggested I build a bonfire with $100 million because then at least I wouldn't waste years of my life. Well, I think those people are dead wrong. I do believe that telcos can build super apps and make them super successful. The public cloud is changing all parts of telco and Tatogi and super apps are fundamentally changing the customer relationships. In one month at MWC, people will see what Tatogi has to offer and they will understand why I'm making this bold call. Because Tatogi takes the value of the network and the power of the public cloud to help telcos move from being network-centric to being customer-centric, boom. If you wanna make this transformation and reap all the financial benefits, you will have to compete for customers with a whole new set of players. You will no longer compete with the network-focused guys like the other telcos. Instead, you will be competing against the customer-focused companies. These players don't have a network to fall back on like your old competitors. They know they have to make customers love them. Their customer loyalty is so off the charts their customers are called fans. So if you want that big money, you will have to compete on their turf and make the customers want to choose you. You need Apple level loyalty. That bar is Uber high. We will have to give up the security blanket of the network and change. Instead of MPS in the 30s, it needs to be in the 70s. Instead of mobile operating in the threes, they need to get five stars. I'm betting big that Tatogi will make that possible. I'm gonna help you every step of the way starting with my keynote next month at MWC. Join me and I'll share the secrets to converting your super valuable network interactions to make your super app a massive success. We're going to have an amazing time and I can't wait to see you there. Okay, we're back here in the cube here at Mobile World Congress in Cloud City. I'm John Furrier. Chloe Richardson, filling in for Dave Vellante who's out on assignment. He's out getting all the data out there and getting stories. Chloe, what a great keynote by Daniel Royston. We just heard her and Huawei. Major action, Major, pump me up, punch in the face. Wake the heck up, Cloud people. Cloud is here, she didn't pull any punches. No, and I mean, the thing is, John, there's trillions of dollars on the table and everyone seems to be fighting for it. And you heard her up there. If you're not on the public cloud, you're not going to get access to that money. It's a free for all. And I think the Cloud people are like, they might think they're going to walk right in and the telco industry's going to just give it up. There's not going to be, it's going to be a fight. Who will win? Who will win, but also who will build the next big thing? Someone needs to die in the media conversations. It's always a fight, something's dead, something's dead, but it keeps living. All that kidding aside, this is really about partnering. I think what's happened is telcos already acknowledged that they need to change. And the 5G edge conversation, the chip acceleration, look at Apple, they got their own processors and Nvidia, Amazon makes their own chips, Intel's pumping stuff out. You got Qualcomm, you got all these new things. So the chips are getting faster and the software's more open source. And I'm telling you, the cloud is just going to drive that bus right down Cloud Street and it's going to be in Cloud City, everywhere. And it's going to be peeping on the horn as it drives down. John, I'm not a stalker, but I have read some of the things that you've written. And one of the things you mentioned that was really interesting was the difference between building and operating. Break it down for me, what does that mean? That means basically in mature markets and growing markets, things behave differently and certainly economics and the people and the makeup and the mindset. So the telco's been kind of this mature market. It's been changing and growing, but not like radically. Cost optimization, make profit, install a lot of cable.  Cloud is a growth market and it's about building, not just operating. And you got operators, carriers are operating networks. So you're going to see the convergence of operators and builders coming together. Builders being software developers, new technology and executives that think about building. And you want people on your team that are going to be, I won't say wartime, you know, lieutenants or generals, but people who can handle the pace of change. Because the change and the nature is different. And some people want slow and steady, keep the boat from rocking, but in a growth market, it's turbulent and the ride might not be quiet, first class ticket to paradise, but it's bumpy, but it's thrilling. No, of course, is it similar to the old sales adage of Hunter versus farmer, the parallels? Yeah, I mean, there's a mindset. If you have a team of people that aren't knocking down new opportunities and building the next big thing, fixing your house, get your house in order, you know, refactor, reset, reboot, replatform with the cloud and then refactor your business. If you don't have the people thinking like that, you're probably either going to be taken over or go out of business. And that's what the telco with all these assets, they're going to get bought, roll into a SPAC, special purpose acquisition company which is super hot in the United States, a lot of roll ups going on with private equity. So a lot of these telcos, if they don't refactor or replatform, then refactor, they're going to be toast and they're going to get rolled up and eaten up by somebody else. Yeah, sure, it's interesting there, isn't it? Because when we think of telco and tech, we often think of, obviously we've got the triad people process technology and we think the process and technology really take the forefront here. But like you said there, people are also so important because you don't have this right balance. You're not going to be able to drive that change. We had, obviously it's got right on the stage yesterday and after his session, somebody came up to me and just said, I'm interested to hear what that means for education. So how can we establish this new generation of tech and telco leaders from the grassroots with educational associations, establishments? How can we encourage that? I wonder, is this something that you talk about often? I mean, education is huge and this highlights the change that telco is now part of. Telco used to be a boring industry that ran the networks or moving packets around and mobile was there, but once the iPhone came out in 2007, the life has changed, society's changed, education's changed, how people interact has changed. So you start to see people now aware of the value and if you look at during COVID, the internet didn't crash, the telcos actually saved our assets and everyone survived because the network didn't break. Yeah, we had some bad Zoom meetings here and there and some teleconferences that didn't go well, but for the most part, we survived and they really saved everybody, my opinion. So they should get kudos for that, but now they're dependent upon healthcare, education. People care about that stuff. So now you're going to start to see an elevated focus on what telecom's doing. That's why the edge is got trillions of dollars up for grabs, but education, there's negative unemployment in cybersecurity and in cloud.  You can make 100,000 pounds and be unemployed six months and then be employed. So negative unemployment means there's more jobs and people to fill them qualified. Yeah, it's interesting you mentioned that because I was talking to a cybersecurity leader who was saying a similar thing. There are now three million vacancies in cybersecurity and there's such a skills shortage, there is nobody around to fill it. So it's an interesting problem to have, isn't it? Because it's reversed to what we've been used to for the last few decades and obviously telecom's is in the same space. What can we do about it? Do you think to actually bring people in? I think it's going to take leadership and I'm a big proponent of kids not going to university if they don't have to. Why spend the dough if you don't, money if you don't have to, you can get online. I mean, the data's there, but to me, it's the relationships, the mentorship, you start to see women in tech and underrepresented minorities in the tech field where mentorship is more important than curriculum. Community is more important than just going through a linear courseware. Nobody wants to sit online and go through linear courseware. Now if they have to get a certificate or degree and a accreditation, no problem, but communities are out there, so that's a big change over, I'm a big fan of that and I think people should get some specialized skills, you can get that online. So why even go to school? So people are figuring that out. For sure, and also even transferring, I mean, so many skills are transferable nowadays, aren't they? So we could easily be talking to people from other industries and bringing them into Telco and saying, look, bring what you know from your retail background or your healthcare background and help us at Telco to again drive forward, just like DR is saying, it's all about the next big thing.  Now the jobs that are available weren't around five years ago. So there's no like pedigree or track record, there's no like, everyone's equal. So you could, the democratization of the internet now is from a job standpoint is people are leveling up faster. So it's not about the Ivy league or the big degree or silver spoon in your mouth, you've got the entitlement. So you start to see people emergent and make things happen, entrepreneurship and American immigrant entrepreneurship. People are billionaires that have no high school diplomas. It's interesting you mentioned that John because we can't have more than five years experience in this space, we know that. But in telco, there is a problem and maybe it's, again, it's a flipped problem where telco recruiters or talent acquisition leaders are now asking for kind of 10, 20 years experience when they're sending out job descriptions. So does that mean that we are at fault for not being able to fill all these vacancies? Well, I mean, I think that's just, I mean, I think there's a transition to the new skill set happening one. But two, I think you got to be like a chip engineer. You can't learn that online. But if you want to run a cloud infrastructure, you can. But I think embedded systems is an area that I was talking to an engineer. There's a huge shortage of engineers who code on the microprocessors, on the chips. So embedded systems is a big career. So there's definitely paths you can specialize. Space is another area you've seen a lot of activity on. I see Jeff Bezos and Elon Musk is going to be here on a virtual keynote, trying to go to Mars. And Daniel Rosen always says, who's going to happen first? Mars, Colony, or Telco adopting public cloud. Some people think Mars will happen first, but. What do you think, John? I think Telco's going to get cloud. I mean, first of all, public cloud is now hybrid cloud. And the edge, this whole internet edge, 5G, is so symbolic and so important because it's an architectural beachhead. And that's where the trillion dollar baby is. So the inside baseball and the inside money and all the investors are focusing on the edge because whoever can command the edge wins all the dollars. So everyone kind of knows it's a public secret. It's fun to watch everyone jockey for the positions. Yeah, no, no, it really is. But it's also quite funny, isn't it? Because the edge is almost where we were decades ago but we're putting the control back in the hands of consumers. So it's an interesting flip. And I wonder if with the edge we can really enhance this acceleration of product development, this efficiency, this frictionless system in which we live. And also, I've heard you say hybrid a few times, John. Is hybrid going to be the future of the world no matter what industry you're in? Hybrid is everything now. So we're the hybrid cube. We've got hybrid cloud. Exactly. You've got hybrid Telco. Because now you've got the confluence of online and offline coming together. That is critical dynamic. And you're seeing it. Like virtual reality, for instance, now you're seeing things. I know you guys are doing some great work at your company around creating experiences that are virtual. Exactly. You got companies like Roblox went public recently. Metaverse is a good time to be in that business because experiential human relations are coming. So I think that's going to be powered by 5G, gamers. So all good stuff. Chloe, great to be with you here on theCUBE. And we're looking forward to seeing your main stage. Great. We're going to send it back to the studio, Adam and the team. We're waiting for DR to arrive here in Cloud City. And this is theCUBE from Cloud City. Back to you, Adam in the studio.


Hi everyone, Basel Chapman here. This is the Tiger Financial News Network, 11 a.m. market update. Downs up, this is the 22nd of, Tuesday the 22nd of March. We're looking at the Dow up to 34,000 at 34,788, made a new recovery high in Leg C. We're going to be watching this to see what happens from this moment on. We just had a couple of little signals say maybe a little bit of a breather right here. And also what we're looking at is how does this weekly chart close on Friday? Because it's a very good action so far over the last, so far the last two sessions going into this little area right here of the 34,700. Most importantly what we're looking at is the S&P has also extended this Leg C in the Chapman Way Methodology in the daily chart. Very nice move up. It's trading at 45,03.24 up 42. You're looking at the QQQ and the X100 is trading up in Leg A. Right, that's stored just about at the joint period moving average. Let's see how this actually works out in terms of trying to get above into the 360s. It's a 355. You're looking at the IWM. IWM is the Russell 2000 up $1.85 at 207.30. In that rectangle, making the third arch formation and now gold. Gold is down 14 at 1916. It can't get above the nine-period moving average. It's having a digestive phase as is the well Crudor had a nice earlier rally. Now it's down a dollar and a half. The dollar and a quarter at 108.83. Does it store here or does it suddenly zoom into the 115, 116 area? That's the big question. It better hold 104 otherwise it's going to slide even deeper. Looking at the TLT, this is a real problem. A new low, that means yields are going to a new high. Amazing action. So the TLT is at 129.04. Horrible, horrible, horrible because this is the pattern in the monthly chart that dreaded H pattern slumps underneath the left side low of 133. This is just saying yields are going to, the Fed doesn't actually have to do much because the yields are doing it by themselves. So this is a very interesting aspect. And if you're looking at the volatility index, if the volatility index which slipped earlier, it's down at 2307 actually starts to move into the 2450 or higher area as the market pulls back, you can start to see a bit of a breather going into the close today. So far it's been good action. You'll see what happens. I'm going to hand you over to Larry Pizavento, trade what you see and then comes Thinkorswim, Steve Rhodes, Dave White and Tom O'Brien will be back this afternoon. I'll actually be with Tom on a late this afternoon. Have a wonderful day. Check out my opening for the new set.


So, today is about this extended or expanded endoscopic endonazole approach for supracellar tumors. The extension of endoscopic endonazole approach, which is used for pituitaries beyond the confines of cellar permits approach to approximately 2 centimeter of width of midline scullways and supracellar region and its foundation is laid by neuro navigation. So, to get into extended approach you have to use or you have to have a neuro navigation. So, basically the extended approach is a combination of a target that where we want to go and a cranial base approach that how we will reach there and the third is the nasal corridor that where do we start. So, these three things in supracellar tumors are the target is supracellar system, the cranial base approach is trans tubercular transplenum and the nasal corridor is trans spinoid. So, the whole name to this is endoscopic endonazole transpinoidal trans tubercular transplenum approach. Now, the basic principle of extended approach is to create a large single rectangular cavity within the spinoid sinus for progressive placement of your endoscope and instruments closer to the target so that you use the flashlight effect again that you can study the anatomine detail by taking the endoscope in and with magnification and the position remains same except that in supracellar region you should have a little bit of extension of the forehead chin forward line and these are the various steps and here the addition is the restriction of cisternal stage and the reconstruction which has to be planned before and. So, do not start any extended approach unless you have planned the reconstruction. Now, these are the nasal steps where definitely it has to be a binaustral, binaer 400 technique then lateralization of inferior terminates to produce more space then partial or complete resection of middle terminate, but only on one side only on right side. The other side middle terminate is out fractured and lateralized now the vascularized pedicle nasal septal flap has to be used for the reconstruction and then the CSF leaks have now gone to less than 5 percent with this and then you have to use a reverse flap also to cover the bare cartilage produced as a result of this flap. The posterior septectomy for bimanual maneuverability and a bilateral superior terminate you have to because you have to go into the spinoid and ethmoids so you have to do a bilateral superior terminate. Now this is the bilateral synodotomy and ethmoidectomy and this is the same technique as others. Now the cell is removed and now under the image guidance the tuberculum cellae and plenum synodal are thinned out with a diamond drill again same way like a cella and then the egg cell is removed with the deceptor and which exposes the superior intercavenous sinus. Now I will just show you the anatomy in this patient this was I think a rough case clap cyst which was extended approach was used for this because it was extending there in the supressor region and now you see this video and this is after opening the dura the cyst was incised and you can see clearly the chiasma and then I am going into that linear thermodynamics you can see the ACH this is the pituitary stalk and then this is the basilar artery on the side of the pituitary stalk and the cyst wall was excised completely and this is after and you can see the ACA's on the superior part of this. So this is just a view after the excision of the cyst and this is the third ventricle where we are getting into supra chiasma and these are the third nerves you can see on there and now this is the post-op of the same patient and now there is a because it is a video session so I have just small videos of all pathologies just to show you this is the pituitary and here we use the extended approach because supra cell extension and after doing this drilling there and cell apart now we are opening the dura and after opening the dura I opened it from all around and I wanted to remove it extra capsular a complete excision because this tumor was relatively firmish so after removing this the opening the dura all around and then I was trying to dissect it from the upper part and laterally we just now the extra capsular excision the same way I am trying to remove it but it was a large and could not so then we proceeded to partial removal in piecemeal and this is why I will tell you that why it was not and surprisingly the biopsy of this was hypophagitis this whole of that is hypophagitis so this is I think retrospectively think this is why you are not able to take it out extra capsular now here is the supracellar epidermal so here I will accept that it was a wrong decision to go by this approach in supracellar epidermal and I will tell you why although in the initial pages this is the again the septum this flap and reverse flap and which was just sutured and now I am opening the dura this is the intercavenous sign as you can see now I could remove this epidermoid whatever but after certain stage I was just not able to see the epidermoid because it was more supracellar more lateral and we could see the pituitary stalk so it was a partial removal and then I have to remove this epidermoid by keyhole approach in a second stage after 10 days and we could remove it completely so for epidermoid I am again very low to go by this approach because the basic concept we should consider that the epidermids they are in the system and they grow along the vessels and they never retain a exact midline position they will go here and there so complete removal is less likely with this approach now here is a man in your this is a young girl 22 years she had marriage after three months so maybe after consulting many people she just came to me that removed this by nose I don't want any cranial incision so this is her video that we raised again a flap legio septal flap and the reverse flap sorry this initial part is very now now you remove this vomer and now this is the drilling of the plenum and tuberculum cell and now this is the SIS being coagulated and after cutting this we could see the tumor is being removed gently you have to look and keep looking all around that nothing is adherent to this we just can't pull it once it is free then you can remove it yeah so gradually gradually at this part of the tumor was removed and now we can see the arachnoid there so it's best if you can keep extra arachnoid but the size was little larger it was not possible you can already see the hole in the arachnoid so it doesn't matter but when you put some petty or something that more blood should not go in and this is the reconstruction now this is a craniopharyngeoma which was a quite large and again the flap legio septal flap and then reverse flap and this is the mucoza which was coagulated there and again the same a vomer which was rostrum and vomer which was excised and this is the reverse flap see this is the part of the cartilage which is bare and then you have to suture it to the bare cartilage and now this is the plenum is being removed and now you see the exposure and this is the supia intercavenous sinus of the durage being opened below the sinus and above the sinus and then you coagulate it and cut it and then you hold the ends and coagulate and shrink that so that your exposure of dural opening is better now you already see the craniopharyngeoma there and now this arachnoid was there which was incised and contents evacuated so you have to bimanual means you cannot do this with the one hand and now these are the inferior hypofasial vessels so I will have to now this is the part above the chiasma removed and you see whole of the ACA complex and now is the infra chiasma part is going towards the third ventricle and now we already see some hole in the tumor which is going into the third ventricle and here see this is the attachment of the craniopharyngeoma so it has to be cut sharp so I used the scissors and then cut this attachment sharply and after this with help of the pad because it was large with the bimanual dissection and we could remove it completely so always in stages you just cannot pull it you just deliver it and then hold it further approximately and then gently again remove it and you have to move it look around everywhere that nothing is adhering to this but the part which is in the third ventricle is very easy to dissect it just comes very easily this is the basilar and its bifurcation and now you see the telakoroidia suprapinial recess and when you take the endoscopy and you can see whole of these a lot of things and now they through the foramen of Munro both the foramen Munro are seen and now this is again that same large piece of fat and then it should pulse it and then we put the graft and the flap again now this is again another craniopharyngeoma I think done about 15-20 days back only so again the dura is being opened above and below the sinus sinus being coagulated and if there is any bleeding this flow seal for extended you have to have flow seal with you you just cannot work without flow seal now the craniopharyngeoma again portion and half flow seal so now again piecemeal rumble hold the capsule look all around cut what about circuit we can use Q saw I have used Q saw also through nose and now you hold it and see all around cut it if you see that you can't see further then cut the portion which you can see and now once it's easily delivered now you see that's this capsule can be it was delivered very easily and this is the complete oxygen and this is the repair again the same way it has to be a multi-layered repair and this is the nasal septal flap thank you very much


So for the purposes of today, it will be enough to start with a single vector space, V over some field, which will usually be the complex numbers or some rational functions over the complex numbers. And in our matrix will be some rational value and a morphism of the tensor square of V. Or another way we can think about this is by putting each vector space into some family of evaluation representations. So I just tensor width with fields over some formal parameter. And we want to think of the R matrix as some matrix depending on the difference of two evaluation parameters. And an R matrix will be a solution to the Yang-Baxter equation. And so this Yang-Baxter equation will consist of three R matrices composed in the opposite order. So first, the three R matrices like this. And here, R1, 2, let's say this will be some equality of operators that acts on a tensor product of three copies of this vector space. And here, this acts in just the first two tensor factors. And similarly, R1, 3 acts on the first and third tensor factor and leaves the second tensor factor alone and so on. And so I can compose these three operators. Or I can compose them in the opposite order. And the Yang-Baxter equation tells me that these should be the same operators being on this triple tensor product. And so pictorially, this can be drawn as follows. I have my first two vector spaces interacting. Then I have my second and third. And then I have my first and third. Or I have these interactions in the opposite order. So this is this picture of Reitermeister 3. So if v is finite dimensional, this is a pretty hard equation to solve. There's the dimension of v to the sixth power equations and then v to the fourth power unknowns. And so if you have a solution, that's a pretty powerful thing. Here's an example of a solution. So I could take my field kappa to be kappa k to be rational functions in some variable kappa. And one example would be the following, acting on, say, the tensor product of C2 with itself. And so it's an exercise, not a hard one, to check that this indeed satisfies the Yang-Baxter equation. And when our matrix will just be a solution to the Yang-Baxter equation. So algebraically, these arise as the non-commutativity constraints of quantum group representations. And so if I have a quantum group to it, I can associate an R matrix that tells me the failure of the tensor product of representations of this quantum group to be non-commutative. The construction also works the other way. So if I have an R matrix, then from this R matrix I can produce a quantum group. So in this way, I start with the representations in some way to braid them. And from there, I produce a quantum group. And so that's called the quantum inverse scattering method. Starting with some R matrix, quantum inverse scattering method. The Fidea of Russia-Tincon produces a certain Hopf algebra, a quantum group, Y called the Yangian. And this quantum group acts on arbitrary tensor products of this representation. And so let me briefly review how this algebra comes about. Give some very, very quick sketch. So generators of Y can be read off from matrix elements of R. So more specifically, these are operators appearing in matrix coefficients of R or compositions of this R matrix. So for example, if I have some endomorphism of V, then the generators can be read off as coefficients of the following operator. I take the trace over V of V applied to the first factor of some long tensor product of V. And then I apply this R matrix however many times I like. And so this in here is some operator that acts on V, V of U, tensor S V to the UI, tensor N copies of this V. If I take the trace over this first factor, or I guess I've called it the zero with factor, then I get some matrix valued series in U. And I want to take the coefficients in, suppose I normalize these R matrices so that R of infinity is 1, then I want to take the coefficients in the 1 over U expansion of this operator here. And these will give me the generators in my Yangian. So again, this formula is not particularly important to internalize right now. I just say it to give you some sense of how this algebra comes about. Some relations among these generators, not all of them, but some can be read off from the Yang-Baxter equation. For those familiar, these are these called the RTT relations. And the resulting algebras are familiar in Schopen other contexts. For example, for this example I wrote down earlier, for this Yang-R matrix that was 1 minus kappa over U, 1, 2. The resulting Yangian is what's called the Yangian of gl2. And so this is some hop-algebra deformation of the universal enveloping algebra of gl2-valued polynomials. And these are studied from many different perspectives. For example, one can write down explicit generators and relations. This was first introduced by Drinfeld, studied by many people, Charlie Pressley, Eddinghoff, Schedler-Schiffman, Moll of Nazarapalshansky. There's lots of work on these Yangians. So from the R-matrix, one can not only read off this algebra, but other special properties of this algebra. So for example, the R-matrix also gives rise to families of commutative subalgebras. And these are called Baxter subalgebras. So if I have some operator in my vector space that commutes with the R-matrix in the following sense, then the resulting operators I get from doing this construction end up commuting. So it's a kind of fun exercise to show that the resulting operators commute. And so in this way, I produce a family of commutative subalgebras for every such operator, phi. So for example, of this Yang-R matrix, I can take this matrix phi to be multiplication by any element of GL2. And to this G, I would associate some commutative subalgebra of this Yangian. So this is the general algebraic package one can produce given these R-matrices. And we'll talk about today how to produce this algebraic package using geometry. And so this, yeah, does it depend on the choice of phi? So one can pick, one picks any, at least here, one picks any phi of finite rank. And all of these phi produce generators that go into the Yangian. So the generators, so I pick all my phi. For each phi, I get some generators. And all of these generators appear in the Yangian. So, yeah, the answer is no. And so this line of study was initiated by Malekin Kunkow, who produced R-matrices from the geometry of Nakajima-Quibber varieties. So this is a pretty extensive theory. Instead of going through it in all this generality, let me just focus on a few examples. So here are some examples of Nakajima-Quibber varieties. If I start with just a quiver that's a point, no loops or anything, and I frame it, then the corresponding quiver variety, I'll turn it around here, I apologize. And the corresponding quiver variety is the cotangent space to the grass manian of KM. And so if, in particular, I take N to be 1, then, well, the comology of X is just what? It's the comology of two points. And I'll set this to be my V. And so if I'm working over C, this just is this C2, which we've already seen. And how do I get these tensor products geometrically? I just take larger N. And so if I take the quiverian comology for some fixed N as K varies, then this turns out to be isomorphic to the tensor to an n-fold tensor product. And here, these evaluation parameters correspond to the quiverian parameters of the torus that acts on the grass manian. And so this produces this kind of C2 vector space that we've seen in this earlier example of Yang-Zar matrix. But of course, one can do this for more complicated quiver varieties. So here's a slightly more complicated variety. One can take the non-contaminated quiver variety associated with the Jordan quiver. So I double that quiver and frame it. And the corresponding variety is instanton moduli space of torsion-free frame sheaves on P2. And so here R is the rank and is the second churn class of these sheaves. And so in particular, when R is 1, 1 recovers the Hilbert scheme of points that Lothar talked about yesterday. So this is equal to the Hilbert scheme of n points on C2. And one has some torus whose quiverian parameters I'll call T1 and T2 that acts on P2 or C2 here. And that gives rise to an action on the moduli space of sheaves on P2. So it's framed, so the first churn class is automatically 0. And the vector space I want to associate is the union over all Hilbert schemes of C2. And so unlike our previous examples, now V is infinite dimensional. And just like in this picture, I can produce tons of products of V by increasing the size of the framing. And a similar idea holds for an arbitrary Nakajima variety. By increasing the size of the framing, I can produce tons of products of what I get for simple framings. So this V here, I'll say this in a little bit, but this is a Fox space for the Heisenberg algebra. So in this level of generality, Malik and Akunkov construct arm matrices. And they do this for an arbitrary Nakajima variety. And they do it using special Lagrangian correspondences called stable envelopes. So in the interest of time, I'll kind of omit a detailed explanation of these. But let me just say from the geometric properties of these correspondences, the Yang-Baxter equation follows immediately. So most of the work goes into constructing these correspondences. But once you have these correspondences, the Yang-Baxter is pretty much just a formal consequence of properties of these correspondences. And another consequence of the stable envelope construction is that vacuum matrix elements, so certain vacuum matrix elements can be written, so vacuum matrix elements of the corresponding arm matrices can be written in terms of tautological bundles. So let me just say what the tautological bundles are in this example of the Hilbert scheme. So on the Hilbert scheme, there's not so many different choices of tautological bundle. What I associate is given some sub-scheme Z of C2, the fiber should be just sections of the structure shape of this sub-scheme. And this gives rise to a rank and vector bundle over the Hilbert scheme of points of C2. This is what's called the tautological bundle. And given quiver varieties, I have similar bundles, one sitting over every node. So what do I mean by two? For example, if I take this matrix and I restrict it to, say, the vacuum, which I just defined to be the homology of the Hilbert scheme of zero points on C2, which is just a point, a tensor with the homology of the Hilbert scheme of n points on C2, and I expand this matrix element here in powers of 1 over u when I get a sum constant. But then as soon as I go to the 1 over u squared term, the tautological bundles begin to appear. And so what are the Yangians one obtains? So I told you any time you have an R matrix, you get a Yangian. This example of the tangent space to gross monions, this gives rise to this Drinfeld-Yangian of gl2 that acts on homology of the tangent space to gross monions. And so this recovers a construction of Varan-Yolo or Nakajima in the corresponding construction in k theory. But if one instead starts with instanton moduli space, one gets a larger algebra. One gets what can be called the Yangian of gl1 hat. So this is some Hopf-Algebra deformation of double loops in gl1, that is to say, Heisenberg algebra valued polynomials. And this was shown by Schiffman and Vasserot to be isomorphic to the comblogical Hall algebra associated to the same quiver. And in general, starting with any quiverity, one gets some Yangian. And especially in affiner or wild type, these algebras are quite big. But they turn out to be just the right size for innumerative applications. So I mentioned not only does one get a Yangian action from these r matrices, but if you can find operators that commute with the r matrices, then one gets Baxter subalgebras. And so let me focus on the example of the Hilbert scheme. So given some complex number q, I can define an operator phi of q that acts on the co-immology of the Hilbert scheme of n points in C2 by q raised to the nth power. So it just counts the number of points and applies q raised to that power. And then it's not hard to check that this r matrix preserves the total number of points appearing in a tensor product, which implies that this phi of q transferred with itself commutes with the r matrix. And in this way, one associates some Baxter subalgebra B of q inside this Yangian. So we have some Baxter subalgebra, this algebraic object. And just like we've found every other algebraic object geometrically, it'd be nice to have a geometric description of this. And indeed we do. So it's a theorem of Malik and Akunkov that these Baxter subalgebras, B of q, can be identified with the algebra of operators of quantum multiplication in the co-immology of instanton moduli space. And so this identification gets one a large part of the way towards writing down explicit formulas for quantum multiplication in co-immology of these instanton moduli spaces. And so not only have we produced all this algebra geometrically, but it turns out that this algebra seems to be kind of exactly the right setting in which to study the enumerative geometry of quiver variety. So that's the kind of general picture. And now I want to see if we can push it a little bit beyond the setting of quiver varieties. So question, what part of this story, a good place to start, is instead of working with just Hilbert schemes of points on C2 or ADE surface resolutions, which are quiver varieties, what if instead I look at the Hilbert scheme of points on a general surface? So there's some motivation for this question. So some motivation. Well, one are conjectural formulas over Dieck, for Dieck and Pixton, for the quantum co-immology of the Hilbert scheme of points on a K3 surface. So maybe if we can reproduce this algebraic package for an arbitrary surface, that can help us pin down what these formulas should be. Another motivation, and I suspect this will be similar kind of ideas will show up in Gertsch's talk and Laraker's talk, are to better understand universal structures for modulite schemes on surfaces, so in particular the Hilbert scheme of points on a surface. So one will see that there are many structures on Hilbert schemes that don't depend so sensitively on the surface, but rather just on its churn numbers and other kind of numerical data of the associated geometry. The third reason why one might care, which I won't write down, but there's expected to be, especially in the case of K-trivial surfaces, almost no wall crossing between the co-immology of the Hilbert scheme of points on a surface and the d-t or p-t theory of three folds that are fibrid in this surface over a curve. And so this whole package can't be reproduced for arbitrary s. And in general, it seems unreasonable to expect that for the Hilbert scheme of points on a surface, one has some explicit identification between any backs or subalgebra and any operator of quantum multiplication. So the whole package can't be reproduced for general s. One, one still can construct an r-matrix. And two, the matrix elements of this r-matrix still encode in terms of, they still encode multiplication by tautological bundles. We were in terms of tautological bundles. And in fact, one can modify this construction to get, so if you have a quiver variety, you have tautological bundles associated, and you have a surface with more bundles on it, then one has to any bundle on the surface an associated tautological bundle. And one can modify this construction to get churn classes of those tautological bundles as well. So that is to say that the classical co-immology of the Hilbert scheme can be identified with a q equals 0 backster subalgebra associated to the Hilbert scheme of s. So yeah, what I'd like to explain is how to construct this r-matrix before I do that. Are there any questions? So in what generality can we do this? So I want to start with some smooth quasi-projective surface. And I need to impose one assumption. So either we need s to be proper. Or I suppose this first thing in the first case is a subcase of what I'm about to say. But where we need a torus to act on s, such that the fixed locus is proper. And so the reason they need to impose this assumption is so we can make sense of what it means to integrate over the surface. And so then the equivariant co-immology of the surface, and I'll suppress dependence on t from now on, has the structure of Frobenius algebra. That is there's some pairing for co-immology classes on the surface. We can just integrate the product of co-immology classes. And if this s is non-proper, this integral is defined as some equivariant residue. But that's fine. And so this is some algebra over equivariant co-immology of a point suitably localized. You may as well invert everything. And so if we have some torus action on s, then the torus also acts on the Hilbert Scheme with points on s. And just as before, we can group all the co-immology of the Hilbert Schemes to obtain some vector space. And this will be a Fox space for a Heisenberg algebra labeled by elements of the co-immology of s. And so how does one construct this Heisenberg algebra? It's constructed by certain correspondences. So just to fix the notation, in this triple product of two Hilbert Schemes, I apologize. And the surface itself, I can associate the following locus. So given some integers m and some positive integer n, I can look at the locus of sub-schemes, such that one is contained in the other. And the difference in support of the two sub-schemes is contained entirely at a point. And then this triple product comes with three projection maps, one into each factor. And I can define an operator going from the co-immology of the left to the co-immology of the right as follows. So I take in some co-immology class x. I pull it back along this map p1. Then I take the co-immology class gamma that I've associated here gamma, I should say, as a co-immology class of my surface. I pull back that class. Then I intersect with the class of this locus y I've defined. And finally, I push the whole thing forward along this map p3. Informally, all I've done is add a thick point of length n along the Poincare dual to this class gamma. And then for these operators, they can be defined analogously or as adjoints to the operators I've already defined. And so these operators are called creation operators. These alpha negative n and these alpha n are called annihilation operators. And so as their notation may suggest, it's a result of the Nakajima independently Grinowski that these operators form a copy of the Heisenberg algebra with labels in the co-immology of my surface. That is to say that the super commutator of two of these operators is 0 if i plus j isn't 0, otherwise it's given by their pair. And then vs can be thought of as a Fox space for the algebra generated by these. So I have generators for all n positive and all n negative. But what happens when n is equal to 0? So what about these 0 modes? Well, I can just add in some central element for each co-immology class. And we can say they act by 0 on the Fox space. But this also gives us these 0 modes also give us an extra degree of freedom. So we can put vs into a family of evaluation representations as we did before, vsu, where here u is some formal parameter. And now these 0 modes will account for the appearance of this u. So that is to say this a0 of gamma will act by a scalar u times the integral of this gamma. And it's convenient to include this minus sign. So that lets us deform this family of representations. So anytime we have a Heisenberg algebra, one can produce, via the Fagan-Fuss construction, a VeroSoro algebra. So these VeroSoro generators can just be written as quadratic expressions in the Heisenberg generators. And so how do we do that? Well, first, it'll again be convenient to, as we were earlier, introduce another formal parameter. Let me, before giving an explicit version of this VeroSoro, let's see how the VeroSoro will arise geometrically. So let me drop this for now and come back to it in a bit. So now what we want to do, so keeping that in mind, what we want to do is construct an R matrix acting in the tensor product of two of these Fox bases labeled by two evaluation parameters. So how do we come up with this? Well, we look at the construction in the case of C2 and see if there's a way we can characterize it in terms of algebra. And so in a special case, when S is equal to C2, the stable envelope construction implies that this RU commutes with all operators that look as follows. If I take a Heisenberg tensor of the unit and that unit tends for the Heisenberg acting on this tensor product, I see that RU commutes with these. And so to that end, let me try to generalize that feature to arbitrary surfaces.  And similarly, it's minus operators. And I can decompose this tensor product in terms of these two types of operators. That is, I also set Vs plus to be whatever field I'm working over to be the collection of tensors obtained by applying these plus operators to the vacuum tensor itself. And Vs minus is defined similarly. And so one can decompose this tensor product in terms of Vs plus and Vs minus. And once one keeps track of what happens to the evaluation parameters, it gets the following. And so this statement here that RU commutes with all of these alpha plus implies that when s is equal to c2, R of U restricted to this plus part. The resulting R matrix restricted to this plus part is just the identity. And so if we're going to try to generalize this construction to an arbitrary surface, we may as well force it to act just in the second tensor factor here. And so the next question is, how does on the second tensor factor? And again, this has some answer that can be generalized. And the answer will be in terms of this promised V-serial algebra when s is equal to c2. And this can be generalized. And so what's the answer? Now let me write down the V-serial algebra in terms of these generators, in terms of these Heisenberg generators alpha minus. So now I'm going to introduce a new parameter. And I'll set l and gamma capital to be the following quadratic expression in the Heisenberg generators. And it'll be a sum over all insurers m of the normally ordered product alpha m minus, alpha n minus m minus, applied to the coproduct of gamma. So we mentioned that the comology of s is a Frobenius algebra. In particular, it has a coproduct. I take the coproduct of gamma, decompose it into tensor factors, and feed the first factor into alpha m minus, and the second factor into alpha n minus m minus, a term that depends on kappa. And finally, this won't be of particular importance, but there's a term that only appears when n is 0. And so this is some algebraic expression. It also arises geometrically when one takes the commutator of these Heisenberg generators with the boundary of the Hilbert scheme, or the first Schoen class of the tautological bundle. And indeed, these do form a copy of the Virussar algebra. If I commute two of these generators, what I get is the usual Virussar relations now with co-immological labels. And so this quantity in here, this Euler class of the surface minus 6 kappa squared, can be thought of as the central charge of this representation. And then this Vs is the lowest weight representation, the Virussaro. And the conformal dimension is obtained by looking at how these zero modes act. So now I guess this is my Vs minus. And it acts by this quantity. So both the central charge and conformal dimension are quadratic functions of kappa. And so in particular, if I send kappa to minus kappa, I get the same answer. And so what happens is one has an isomorphism that I'll call rs minus that goes from Vs minus to Vs minus that just sends some product of these Virussaro with kappa applied to the vacuum to the same exact sequence of generators, only now I replace my kappa by minus kappa. So what I can do is I can set my r matrix to be the identity on this Vs plus part tensored with rs minus. And this will be some operator acting on the tensor products of these representations. So in the remaining two minutes, let me state the punch line. So starting from this intertwiner of Virussaro representations, we've obtained some r matrix. And indeed, the theorem is that this r matrix satisfies the Ang-Baxter equation. And so the proof goes by reducing this argument for arbitrary s to the case of s2, or to the case of c2 rather, and then using the fact that we have the stable basis construction for c2. So for c2, you have to match up this construction with a stable basis. And then from there, you can build up to general s. And then the second result is that this construction can be modified so that matrix elements, RU, as acting on the homology of the Hilbert scheme, can be written in terms of tautological limits. So let's say given a line bundle L on s, the construction can be modified to produce an r matrix taking its input, this line bundle. And given that line bundle, we can get matrix elements of this tautological bundle. And I just want to end by saying some open questions. So one, is there an independent reason for this connection between the Virussaro algebra and Yang-Baxter? So is there some alternative explanation? So if I do this Virussaro construction for c2, I happen to get an r matrix that matches up with what I get from this other stable envelope construction. And I know that from that stable envelope construction that I have Yang-Baxter. But it would be very nice if there were some alternative or more higher level explanation as to why one would expect Yang-Baxter to be lurking inside this Virussaro algebra. I don't know. And then a second question is what happens if I replace the co-homology of my surface by the co-homology of some higher dimensional projective variety or some other topological space? All we needed, the only input used to define this Virussaro algebra was the Frobenius algebra structure and co-homology of the surface. And so in principle, I could start with the co-homology of some larger projective variety or some larger variety with a torus action, run the same construction, and still ask at the end if I satisfy Yang-Baxter. Yeah, it would be interesting if this were some special feature of surfaces or if it should hold for more general classes of Frobenius algebras. And so I need it even replaced by co-homology of some variety. I could also replace by an arbitrary graded skew symmetric Frobenius algebra. And I could still define the Heisenberg. I could still define the Virussaro and ask whether I would get satisfies Yang-Baxter. So yeah, I'll stop there. Thanks for your attention.