 Welcome, everyone, to today's General FGU. I'm Sid, I'm the CEO of GitLab, and the first topic is incremental ACV. That's our most important goal, and it's looking good for the quarter. We expect to come in above plan, and there's even a 50-50 chance, we'll do $10 million in incremental ACV this quarter, which would be way above plan, $2 million above plan, and which would be awesome. Second thing on my mind is the GitLab local move that's going to happen this Saturday. I think the team has done a really good job preparing. One of my worries was the database server. One of the few things in GitLab that's not sharded, that's a single point, is the database server. We had to make sure that the database would perform better on Google Cloud Platform than it would do on Azure, and the team has done some great testing to prove that is the case. Third thing, Cortland resigned. He was a senior director with a lot of different things on his plate, and we've taken that opportunity to make a flatter, simpler marketing organization. Maybe that's a good thing to link to a future, the future state of marketing, future state. Here we go. Fundraising, so we raised, we have the first VC fund that committed to us, but the more friends, the better, and our existing investors are prepared to make room for another investor to come in. This whole thing about making room is a bit of a weird concept, so maybe I should elaborate a bit. As soon as one investor commits, mostly the rest of the market says, well, this is apparently a good deal, I want to invest as well. That's what's happening here too. The company only needs so much money to get us to IPO with some money in the bank, so now we're not raising that much money, but more people want to put money in. I think we could raise like two times the amount we set out to do. So you have two little investment room, so people have to make place for each other. Existing investors have the ability to do a prorata like put in as much money so that their percentage of the company stays the same, so they put money in so they don't get diluted, but they're willing to give up that privilege to make room for a new VC so that we have another VC on our team. I'm talking with three VCs right now to see which one is the best fit for our needs. They're all pretty great ones, so that's going to be a tough decision. Another thing I want to touch on is that efficiency comes from reducing the needs to coordinate. If you need to coordinate, please do, but whenever you can avoid needing to coordinate, that's great. So if you could say, hey, that's your project. You just do what you please. Hey, that's your decision. That is extremely powerful. If a response is, hey, let's sync on that, let's discuss that. Oh, we'll decide it together. That sounds nice and collaborative, but it's inefficient. You're placing, you're making a roadblock. So anytime you can say, oh no, that's, she is in charge of that, that is a great thing. And I've, wherever I find those situations, I try to tease out, can we make this simpler? Can we just decide this person is XYZ? Another thing I want to touch on, our value of iteration, iteration is a publicly-facing result. So if you say, hey, I was working on that, I iterated on it four times. If you were just making changes to a draft that you haven't published, it's not, we don't consider it an iteration. It might be according to the dictionary definition, but for us, an iteration is when it's, when you get feedback on it as it's released. So you release it and then you do a change. That's an iteration, otherwise you're just changing things. That might be very well, but don't call it an iteration so that we don't get confused about what we mean with iteration. Last thing, the summit is coming up. Tomorrow I'll be flying and from then on, I'll be on the road basically until the summit starts. The goal of the summit is to learn to get to know each other better, so it's focused around that. It's focused about around doing excursions together, having some downtime for hanging out and for doing some work, which also has to happen, and doing the user-generated content sessions. The user-generated content sessions are the pinnacle, I think, of the summit. Our mission is everyone can contribute. Everyone can contribute by proposing sessions, by voting on sessions, by attending sessions. All other companies I know of use summits where they have everyone in the same room to give big, long presentations about the new plans for all the different functional departments. We're not doing that. We're not putting you to that. When we have an announcement, we'll do functional group updates, we'll tell you we sent you the merge request. We're not making you fly all the way out to South Africa to have you sit through that. We want to do things that are cross-functional, that involve different people and that come from the individual contributor level. So, when you go to Burning Man, they have on your ticket, like it's not a festival, like we're not organizing something for you. You make it happen. This is not Burning Man, but it's also not your regular company summit. You make it happen, and you make it happen by participating in those user-generated content sessions. You make it happen by going out of your comfort zone and talking to people you haven't talked to before. You make it happen by seeing that person that's standing alone or kind of wandering around and reaching out to them. That's what the summit is about. That's why we're there. Cool. Simon asks, is there a deck? People linked along URL, which I suppose is the deck. John May, is the investor you announced to the team still leading the route? Yes. Yes, John, and it's all going well. I'm happy it is. Yeah, this is about, like, not the lead investor, but kind of the, well, if one is the lead, then this would be the follower. I'm not sure we'd call it that, but it's about that. David is gonna go on a rampage of hanging out with every single person in the company, which is great. Brenna asks, Brenna, do you wanna verbalize your question? Happy to. Yeah, no, I was just curious being brand new. If there is a way, I would love to get everyone's feedback of who worked with partners, what you guys have enjoyed, what is working, what's not working, just being brand new, being able to gather a lot of that and getting everyone's feedback would mean an enormous amount. So is there a way that I can get that time? It sounds like there's a proposal process, and since this is my second day, I might not know the best process to do that. Yep, so there's a proposal process. Please ask in the select channel, I think, Summit, how that works. You can propose a session. Then people still have to vote on it, so it's like making it a juicy description. And then if you find that it's just you and Priyanka in that session, like then just don't have a session. We'll go to someone else's session for sure. Yeah, in general, we don't want functional sessions, but considering that you're really new and alliances is like the department that is cross-functional by default, that's why you're there because you gotta work with the whole rest of the company. So I think it's appropriate to have that session, and then you'll see whether you get enough votes to actually have that session there. Perfect. We'll put one together, and thank you, John. I got it now. Oh, I don't see any other questions or remarks. Molly asked a question. Thank you, I was just going to jump in, I was gonna say. Sorry, my dog's been crying at herself in the mirror all morning, I saw a couple of people, some videos of that, but it's been quite annoying for video calls. I'd be curious, how do you expect, if any way, the summit to be different, now that we're gonna have customers in attendance, and what things should we be aware of, or I guess do you expect things to be different anyway? Yep, a bit. So having customers there has the risk of overly focusing on those customers, and in general, in our non-summit days, when there's a customer, we are there for the customer, so when they're there, they're our primary focus. Now, the summit is not gonna be sustainable if it's just our team hanging out. I don't know of a company of 2,000 people that can do something like that. I do know of companies that can have a very big event that includes customers, think of like Dreamforce and things like that. So the customers are a way to start making this sustainable. Now, the more we can treat customers as like another person in the GitLab community, the better. So I'd love for us not so much to put up a big show, but for them to participate. So I would love to have a customer propose a user-generated content session. Like that would be a big, big win. The more they can feel like they're part of a community and the less they feel like they're being sold to, the better the outcome. We're a very special company, like everyone can contribute the co-creation we do with customers and users. That's unique, that's our strength. So it's not gonna be like Dreamforce, where we put up big screens and we present to them. It has to feel like getting to know each other better for the users, contributors, customers, team members. And the more we can generate that feeling, I think the better it is. So we're changing the format from the summit from getting to know your fellow team members better to getting to know the GitLab community better. Customers are also part of the GitLab community and we should treat them like that. But it's gonna be very, very hard to... They also think they're signing up for a festival and they're gonna get tons of presentations and workshops. So managing those expectations and making sure they know that it is what they make of it, like they have to get involved themselves. It's a DIY conference. That's gonna be a very hard process for us to go to. And we're starting that now we've invited five customers. So we're making the beginning, the next summit we'll have more customers. Also separating it a bit in time where we first do only team members, then getting some core community members in, core team members in and then customers. I would love in a year or two or in two years for us to have one week that includes both team members and customers where we're on equal footing, but I'm not sure that's possible. We should strive to get as close as we can to that. So yes, customers will change it. Hopefully we keep the good things and customers will also change it and that it will not have to change, that we can keep doing this for a very long time and it will be impossible to look at this as just a cost center with unqualified benefits. Thank you, that was great. Thanks for asking the question and Simon has some exciting news. Simon, you wanna verbalize it? Yeah, so Derivco have been with us since 2014. When they originally signed up, I think their deal was worth a quarter of our annual revenue just to put it into context. So they're gonna be sending two guys from their team along to attend for two days and they're gonna do a UGC on DevOps at Derivco and their organization. They're two really good people to have coming along. One of them, Greg, has been using GitLab since they got it four years ago. So yeah, very excited to have them doing the UGC but also in attendance. So I'm happy that we're inviting customers now as well. Very cool, thanks for mentioning that. That's really exciting. I'm very excited about our customers. We talk with a customer in the financial services industry that was even in the Netherlands that was considering hiring people, especially to contribute to GitLab. If we can make that happen, if we are so welcoming and show so much interest in working with them, collaborating with them, also an interest on a human level and who they are that people start contributing instead of just being a customer, that will be a sea change. The biggest risk as we grow as a company is that we get distanced from the community where they're feeling like, oh, you're in the company or you're outside of the company. That is a very, very big danger for us. There's a reason we're all remote and part of that reason is so we're all on an equal level with anybody else in the issue tracker. So I hope we start, we almost obviously will refer to them as customers but stop thinking of like, we have team members and customers and it's an insight and an outside. No, it's all people that care about GitLab and it's all people that contribute to GitLab in their way. And look, only people that care a lot about GitLab are gonna go to the time and effort to fly out, maybe except for Derivco who's based in South Africa but even then, it's a big chunk of your time and it's not a festival. So I hope we can create that vibe of a movement instead of an organization selling you a weekend. Yes, Cindy, think of everyone as GitLab contributors. That's exactly the mindset. Thanks for that. And yes, oh, there's also Siemens who pays people to contribute to GitLab. So it's happening and that's needed because even with all the engineers we're gonna hire in the next couple of months, we won't be able to pull off the vision of a single application for the whole DevOps lifecycle by ourselves. We need our users and our customers to contribute to that. Cool, that feels like an appropriate ending. Thanks, Molly, for unleashing this. Have a great day, everyone.