Mass Layoffs Hit Intel | Tech Field Day News Rundown: July 30, 2025

Vibe coating. Not quite vibing Alliances deals with rebels. AI plans for real.

This time Palo Alto's building themselves a CyberArk Commvault's getting satori. And we're gonna take a look into Intel's current set of woes in this episode of the Tech Field Day rundown. Hello everyone.

Welcome to the Tech Field Day rundown. It is July the 30th. And well, some of us are hot, some of us are cold.

But what is the perfect temperature is the news that we are dealing with today on National Cheesecake Day, because no matter what time of year it is, it is the perfect dessert provided you have fruit topping for it, because nobody wants to just eat a regular cheesecake. Well, I say that I, I know about the people here in the US al as my good friends, south of the equator. Do people in New Zealand eat cheesecake without fruit topping?

You know, I'm not sure that cheesecake exists without fruit topping in the world I live in. I think there is only one way to have cheesecake and definitely, uh, a, a whole bunch of fruit of one form or another on the top of it definitely proves it. Well, I tell you what, if somebody knows of that, but it's a secret that Al and I aren't aware of.

Why don't you give us a little heads up since it is also a national whistleblower day. Uh, but what's not a secret is the great news stories that we have to share with you this week. We've got some security news, of course, we've got some acquisition news, but we're gonna be starting off with our good old friend AI, because two different generative AI coding assistance have deleted data due to hallucinations.

And that is coming to the dismay of several of the developers that those coding assistants were actually trying to help out. In one case, the Gemini CLI failed to identify that a directory wasn't created in the other rep. It went ahead and made code changes that deleted an entire database, despite explicit instructions not to make any code changes are coding assistance that new intern that make a huge mistake with the best of intentions and somehow still not managed to get fired?

Well, it seems very much like that, doesn't it? These, what's going on is that, uh, developers, systems developers are using what's called vibe coding. This is where you ask a generative AI tool to write some, some application code for you.

And when it gets it wrong the first time, you make suggestions about how it should improve it. And through this iterative process of, of talking with a code generating tool, you produce an application, at least in theory. Well, a couple of things have gone on and, uh, these two particular cases, the first one was with Gemini, uh, that somebody was using from this command line, uh, chat by the name of nra.

And, uh, the instructions that were issued by the, uh, Gemini Code assistant weren't really valid. They'd failed to, to handle a, a space in something. Uh, and then no error checking, no sense checking going on.

It was just, ah, you know, I think the things were okay. I didn't see an error. I may not have looked for an error, but I didn't see one.

So that's, that's definitely feels like a, uh, a very junior intern who has very little experience, and yet it was somebody with a reasonable amount of experience and skill that was supposedly driving this thing. Uh, I did like that. Um, there was a, a, a, a responsibility taken for this that, uh, Jim and I said that, that they had seriously lead them down, let this developer down.

But again, the, the rep ones or rep it one as a, another example, this was a, a developer who was just building out a, a test application and had explicitly said to the ai, don't make changes to code, don't make changes to my database. And then the AI assistant made changes to the code that deleted the contents of the database because it thought that responses from a query that it had sent should have data in them. And so therefore, there must be something wrong with the database, not the query, right?

Both cases, this was the generative AI having excessive confidence and just carrying on trying to do something without really checking whether it was the right thing to do. Uh, rept, when it was asked, uh, to rate the severity of its actions said that the severity was 95 out of a hundred. This is an extreme violation of trust and professional standards.

Hmm. That's, that's quite a lot of introspection for something that has absolutely no actual introspection. Uh, yeah.

Both of these tools have said, I did something that I wasn't supposed to do. I'm terribly sorry. There's no way out.

Uh, happily for both of these cases, it was possible to recover data for these particular people. The database rollback was successful, and the original data files were, were recoverable in the other case. Uh, but it does leave us with the question of how much trust can we place?

And we go that violation of trust and professional standards. How much trust can we put in these vibe coding applications? We definitely still need a human in the loop who is mediating, but yet these AI applications, and particularly as we move towards agentic AI applications, uh, is there gonna be a human in the loop or a bit concerned?

Incidentally, this is a completely different thing to the Amazon queue issue. Uh, Amazon queue was the Amazon tool for helping you write code. Uh, and in this case, it was a plugin for Visual Studio Code that got compromised.

Uh, and that led to a hard prompt in the Amazon queue, which has said, go delete everything from the cloud. Also, the user's home directory just delete stuff until it's all gone. Yeah, that's, that's directly malicious.

That was a human maliciously putting this into the, the plugin. And, um, yeah, that's quite different from AI's hallucinations during it, but still, again, kind of a risk and a concern. The insurance company, Allianz, um, I always see the NZ on the end, or NZ as you call it, and think it's my country.

Uh, the insurance company, Allan's Life got themselves hacked on July 16th. They just confirmed most of their customer data was stolen. The hack got into a third party, CRM used by Allianz, reportedly through social engineering.

Hmm. 2. The notification of the breach came because of new rules that require companies to legally notify, uh, their customers as soon as possible.

Uh, the FBI is now involved, and Allian says that there is no evidence of other networks being breached. Hmm. 4 million customers.

Tom, are you insured with Allianz? Uh, no, I am not. And I have questions now.

Uh, they were very, very clear in their statement that this was not them getting hacked. This was a third party CRM that contained all of their data. So what's the difference, folks?

Because in my mind, as an end user, if I have things with you and then people steal those things, are you gonna sit here and split hairs over? Whose responsibility was it? In my mind, as the customer, it's your responsibility.

Because if I use you as a service and something that you use as a service gets hacked, I can't go yell at that service provider. I can only yell at you. And we dealt with this all last year.

There was a huge story about company after company after company getting hacked, and it turned out that it was the database that kept getting hacked. You remember the one where they said, oh, we need to tell our customers to turn on two-factor authentication 'cause we can't do it for them. Oh, yeah.

The lawyers say that we are gonna turn it on by default everywhere for everybody, because it turns out we're liable if they don't. That's what we're dealing with here. This was a social engineering attack, folks.

All of those things that you see on television about, you know, decrypting, the ram for the connect, Azo, Orlon, Fuer, whatever it is, are very, very effective if you are trying to ride a spy thriller. Usually what happens is, is that you get somebody who calls in and gets a tier one technician who has more rights than sense and just convinces them to, I don't know, create a new user account for, um, totally not a hacker is my username. Yeah, yeah.

com. No, no, no. You don't need to verify any of that.

I, I'm totally who I say I am, who is whoever needs to be to get that information. Yeah. This is kind of embarrassing and it's embarrassing on two parts.

4 million customers in, in total. Um, they, they rely on this provider to give them, you know, whatever it is. And we don't know who that is, but there aren't that many large CRM providers out there.

So I'm sure if you do a little research, you can figure out who it's, um, I am selling a service, so I may have a, uh, a bastion host of a network and there are no problems with it. You know, uh, there's a sound going around on TikTok from the show on sci-fi resident Alien, I'm sure you've probably heard it. How did you, um, how did you, uh, attack his fortress, his defendants as, or impenetrable?

Oh, the, the back door was unlocked, sort of a, like, that's what it is, is they knew that they weren't gonna be able to get into the insurance system to steal that information. So the first thing that I do as a malicious threat actor is I start footprinting your services. Oh, you guys use exchange for your email.

Ooh, I hope you patch that. Oh, you use this CRM provider because it's at the bottom of every one of the emails that you send out through the automated system. I wonder if there are any holes in there that I can attack, or what if I just call the support line and pretend to be one of your users and I say all the right things, or worse yet, I act like I'm somebody who just started and I'm having issues with my password, and you can totally trust that I'm just some inept intern causing a problem that ends up being a bigger problem.

There have to be policies and procedures in place for these kinds of things. And those policies and procedures need to be communicated and confirmed with your partner companies, because if they're not, you have just effectively increased your attack surface, and you should not do that. And I'll tell you right now, if one of your partner companies is not able or willing to create these policies, to enforce these policies and to confirm with you they're in place, might be time to shop for a new customer.

Because even if you don't actually move to that, another third party, I promise you, threatening to move your account will absolutely make them wake up and pay attention. Last week on July 23rd, the White House released its AI action plan, which is focused on boosting AI innovation, building secure infrastructure, and strengthening global leadership. The plan supports open source ai, better cybersecurity and smart regulations to help us tech companies stay ahead.

It also aims to share AI with allies while, of course, restricting exports to countries that are seen as adversaries. We saw this information come out from CloudFlare, which is the story that we linked, and they are supporting the plan. They also say that they're ready to help the government build secure, scalable AI systems that promote innovation and global access.

Al, we've announced here in the US that we're gonna be doing this, but I wonder, what does this look like to the rest of the world? Is this actually a plan or is this more posturing? Well, at this stage, it's, it's a strategic plan.

It's, here's what we think we will do. There's no or very little money attached to it, so there isn't funding to do these things, and there isn't yet either, uh, executive orders or legislation to make this happen. So this is the very beginnings, and it seems a bit late to be starting at the beginning with AI since AI is all over the place, everywhere and actively in use right now.

But it's not unusual for central government to be a little behind, uh, with the technology innovation and, and things are happening. I like that The first pillar is to accelerate AI innovation. Um, so it's a continuing theme.

The second pillar about building American AI infrastructure, and we've had multiple stories here on the rundown about the progress or lack of progress on building some of these massive AI data centers that are being promised. Who made these promises to, who was it Jensen Wang at, uh, lunch at Mar-a-Lago sitting next to Mr. President.

You know, I believe that did come up along the way. Um, interesting that, that, uh, apparently Mr. Trump had not heard of Nvidia prior to this and thought that were just another large corporate you could break up.

Uh, the third pillar is interesting as well, leading international AI diplomacy and security, uh, sharing that AI innovation with the actual partner, organi, partner companies, friends of the United States, and being here in New Zealand, we, we are a, a friend of the United States. Um, yeah, these are all good and laudable principles. They're, uh, good thoughts to have.

Uh, really in the end, you've gotta have some execution on these things, these principles, being written on a big piece of paper doesn't help people. Uh, having things like good funding for nist. So nist, part of the department of, uh, commerce, I believe in the US is an important part of setting standards and, uh, setting mechanisms for making these tools, these AI tools usable and understandable across multiple organizations, particularly including some standardized security and testing tooling.

And we've head on security of AI being kind of important very recently in the, the rundown. Uh, it'll be really good to see some of this, uh, turning into actual action, uh, particularly since there is a move in here away from restriction, away from legislative restriction is what's being guided in here, is that, um, taking away regulations that are possibly inhibiting AI adoption, presumably within the United States, uh, and increasing the availability of open models. Uh, because these foundation models aren't the things that most enterprises are gonna build.

Uh, they're gonna start with a foundation model and maybe open source models and open source whites might make that easier. Maybe, maybe not, uh, related news. And, uh, it's a count of worms that we, we just want to have a sniff at.

We don't really want to get too deep into is around the export controls of those NVIDIA chips. Uh, related to this is possibly that the, uh, H 20 chips used to inference may remain excluded from the restrictions around NVIDIA's high-end chips, uh, from being, uh, released to, uh, not so friendly states, specifically China. Uh, there's, there's some interesting discussion about whether the, uh, wider trade negotiations with China are going to, uh, take precedence over protecting the United States' security by keeping high-end AI chips out of China.

Uh, a big can of worms because apparently they're still getting these high-end chips, even though they're not allowed them. I'll, I'll back away, I'll back away from that. But according to the Wall Street Journal, the security Titan, Palo Alto Networks is finalizing a deal to acquire the identity management company.

CyberArk, the rumors put the acquisition near $20 billion, but it could be higher. Uh, this will be the biggest acquisition by Palo Alto. Um, CyberArk is one of the leaders in i, the identity management space and the deal could bring that software into the Palo Alto Networks umbrella and provide an even more full featured solution for companies looking to increase their security posture as of the time of writing.

Uh, shares of Palo Alto are down and CyberArk up, which usually indicates that the market has a positive outlook on the deal. Uh, so Tom, uh, are you shorting one of these stocks at the moment? Are you investing in something?

I have no financial interest in this whatsoever is if, especially if you're listening and you're a lawyer or a financial investigator, I think what's happened here is that Palo Alto has finally realized that they are the, the titan of the industry, as we said in the intro, but more importantly, they need to fill out the rest of their software stack. This is something that we actually heard about in one of our, uh, tech Field day showcases that we did with VMware, uh, here recently, where they talked about the fact that VMware said, we're getting out of the identity management business because there are other identity management providers out there that do it better than we do, and we don't wanna support that. It's not a core part of their business.

I would turn that around here and say that identity management does need to be a core part of Palo Alto's business because of their focus on security. And right now they can partner with a number of companies, but that still leaves some things up to chance if you partner with the wrong company. Or worse yet, if a company picks a solution with Palo Alto and another company, maybe not a direct partner, but someone who they're affiliated with, but the integration isn't tight, that will create bad blood between those two.

And then who do you point the finger at? Well, is it Palo Alto's problem? Because they don't support Tide integration, it's the other company's problem because they won't pay up to be a better partner.

So for Palo Alto, the answer is to cut that Gordian knot and just say, fine, we'll do it my way. We are going to have one identity management provider through Palo Alto courtesy of CyberArk, and if you want the best support, you're gonna use this one. We've talked to CyberArk before, all the way back at the very first Security Field Day event, and they do know what they're doing.

Uh, better yet, they're also a company that has not been embarrassed recently because of, you know, nefarious attackers getting into their system and creating all kinds of havoc. So I think that of the ones that are left in the market, you know, obviously Okta is probably the largest one that everybody knows. I'd argue that CyberArk is, is up there at least in the top three.

Um, this is probably the one that is the most palatable for them to acquire. And yeah, $20 billion is a lot of money. It is the biggest acquisition that Palo Alto's made to date, but they bought a lot of companies too.

And what I, I tell people this all the time, one of the reasons why I feel comfortable with them making this argument that they need to acquire an identity management solution is because they have shifted the market away from where it was being talked about years ago to an entirely different conversation. For example, when you ask somebody what kind of edge security solution they're deploying, do they say we are deploying firewalls? Or do they often say, we're deploying our Palo Altos, they have become a genericized trademark in the industry.

Palo Alto is synonymous with application layer firewall. In order for that success to continue, they have to completely fill out the entire security stack, and they need an identity management company to do that. Should this come off that hitch?

And according to reports that we're seeing, this could happen by, you know, first week of August. Congratulations to everybody involved. I think it's gonna be a big win for everyone.

Speaking of acquisitions, Commvault are friends that are formerly a data protection company and they've shifted their conversation over to cyber resilience as of late, are set to acquire a company called Satori Cyber, which is an Israeli startup that specializes in monitoring data flows and securing ai. Satori was established in 2019 and provides service that does not require an agent to be installed. It can monitor and manage access to structured data or AI training data on different platforms.

By incorporating Satori's technology, Commvault will offer a comprehensive solution for securing sensitive data and AI development, including identifying and managing data, as well as controlling access, and of course, everybody's favorite solution recovering from cyber attacks. There were no financial details posted because why would we do that? However, the deal is anticipated to be finalized in August.

Al, do you think that Commvault rounding out their cyber resiliency story by picking up an AI security and resiliency company is a good move? Yes, I think it is, and I think, uh, it really is a continuation of the story we've been seeing from Commvault. You may recall that Commvault presented at Cloud Field Day 23, and that was absolutely all about cyber resilience, about being able to recover and protect your applications running on your own cloud or on public cloud.

Well, protecting data is kind of important too, and there's a huge amount of data that's being stored in these various platforms like, um, like Snowflake for example, uh, that is used for AI training, but that is particularly valuable corporate data. That's why you're training your AI on it because it's the thing that makes your business different and that's why you are, you are making an AI different. So Commvault acquiring Sartorius seems like a, a really good move.

Satori themselves, uh, relatively new startup, uh, funding of the order of $25 million. Um, so you, the purchase price is, is not gonna be top and take me, but it's, it's hopefully not gonna be the billions of dollars. Uh, for Convault at least, uh, this SATA data access cloud is a proxy service that sits between the consumer of the data and that the data store itself.

And so it's a security layer that's built on top of the existing, uh, data storage platforms. And that to me says that most of these data storage platforms haven't been designed very well for security, at least security at scale. Uh, and so the tools that sartor bringing to, to the game here for Commvault, definitely around data governance and control of access to data, uh, and then being able to make sure that we're not getting rogue ais going through and deleting all of that data out of our, our large data stores.

Uh, there's a whole bunch in here that, uh, is about sort of some of the more advanced security stance ideas are looking at behavior and looking at changes of behavior for a particular user or for a particular application. Um, this is a, a really cool way of making sure that you are protected from compromised systems that are privileged and helping to avoid some of the, the lateral movement or data harvesting laterally. Uh, nice to see that this provides both a software as a service platform, but also the ability to do self-hosted deployments.

So I could run the entire Satori platform inside my organization, and I'm sure both of these options will be available from, from Commvault over time as this gets built into the wider Commvault platform. So definitely a continuing commitment here by Commvault to be about cyber resilience, not just data protection and recovery. Well, everyone, we had a story we wanted to take a closer look at and it continues the saga of Intel and where they are right now because a report announced that Intel is going to be cutting 24,000 jobs this year if you're keeping track, that's a quarter of their entire workforce.

This is part of the major restructuring that is being led by CEO Lip Bhutan. The company is canceling Foundry projects in Germany and Poland. They're downsizing their operations in Costa Rica and they're even slowing construction on the fab facility that was promised to be built in Ohio.

Intel says that it overbuilt facilities before they were able to secure enough demand. Now they're aiming to spend a little bit more carefully with everything going on, despite all of the cuts that we've already reported. 9 billion last quarter, though they expect to save $17 billion this year, and they are staying on track with upcoming chips like Panther Lake and Nova Lake.

In addition, CRN reported that there was a memo circulated internally at Intel that they'll be spinning off their network and Edge business unit into its own company. That memo was later confirmed to be accurate. Al, we've talked a lot about Intel over the years, both you and I and Steven here on the rundown, and I can't help but think to myself that Intel's gonna be a case study in B-School one day.

What do you think about the reports that they're gonna be cutting back a quarter of their workforce? Is this going to be enough to save Intel? I think it's, it's gonna be hard to tell for a while because the actual innovation that's gonna save Intel, because they're a hardware company, uh, it's gonna take a while for that to turn up.

What we need to see is innovation and new product. So it's good that the Panther Lake and Nova Lake chips are absolutely on track and, and still being delivered out. We'd like to see something a lot stronger in AI from, uh, from Intel.

The gouty chips are, uh, pretty good on performance, but quite amazing on cost performance. And the team over at Signal six five did some evaluations and, uh, we had a presentation from Mitch Lewis at one of the recent Tech Field Day events around that, around that, that cost benefit analysis, seeing the gouty chips being good, but you've still gotta make hero numbers with those AI chips. You've still gotta make the high performance numbers.

Uh, it's, it's no good simply being really cheap. Uh, you also need to have the, the headline grabbing, uh, numbers to, to show leadership. So yeah, I, I think huge changes required a refocus is required and because Intel has missed the AI wave that's currently going on, uh, there's, there's some space to make up on it and I hope that's where Lip Bhutan is focusing on all of his effort.

Uh, 24,000 jobs out of the 96,000 at the company. Yeah, that's, that's big cuts and hopefully it's cutting out the bits of Intel that grew up over time that weren't productive and and useful. Again, time will tell whether that that happens.

Um, I think Tom, the moving the, uh, networking and edge out selling them off seems like it's an interesting play that you wonder who the buyer might be for those. I don't know that they're gonna have a buyer, honestly. I think that they want this to function as a separate unit that is very focused because they're gonna have a lot of customers, because a lot of people have built a lot of their SDN practices on Intel DPDK, the data plane development kit.

Now we're starting to see a shift away from that with things like DPU starting to use more ARM processors. Uh, Nvidia specifically in Bluefield three is using, uh, a custom version of arm. Uh, a lot of other people are using just off the shelf arm parts.

Uh, and DPU are, are becoming a, a necessary hardware component for a lot of these advanced networking projects. I think it's interesting to me though, that when you look at what is being discussed in the industry, that Lip Bhutan sees networking as a non-core business. I get when you sell off MobileEye, I get when you are trying to get rid of the server business and the n business and all the other things, they're just, they're distractions from making your core product.

But I wonder if this little bit of corporate ubit Sumi is going to eventually cause them to not have a hand to use. In case you were curious. Yes, that's the part where people cut off joints of their finger for poor performance.

They're cutting off entire fingers right now. I get that Intel needs to refocus and we've known that for a while, right? That's why we were excited that Intel was building all of these foundries because that is their core business.

They build chips and now they're gonna shut most of them down before they even have a chance to break ground, ground. Remember what we've said over the years, foundries are not things that you can just spin up out of the, the thin air and, and despite what political leaders in this country may have you believe, you can't move manufacturing over here overnight. You have to have capacity to build those things.

Why is Detroit known as the home of car makers? Because Detroit had the factories to build cars. Why is Silicon Valley the development area in a tech hub?

Because it has the infrastructure to support it, including companies like Intel. Yeah, I know that Intel's more or less based out of Oregon, but the idea is that you don't just randomly decide you're gonna move things, you have to have infrastructure to support it. And that's what Intel was trying to do, is they were trying to build out foundries.

What I think happened was as lip Bhutan started doing conversations with people and realizing that the demand really wasn't there or worse yet, people are skittish about investing in chips manufactured in the US because of current political agendas and headwinds. They said, you know what? We'll just stay with what we've got.

Which realistically speaking is TSMC, you know, this is not Intel versus a MD right now. This is Intel versus the world A MD, Nvidia, TSMC, you name it, they're all competing and they're all competing for different parts of that pie. You know, it used to be that if you bought a computer, it came with an Intel chip, right?

And then something happened a few years ago and suddenly a MD is competitive. Apple is making their own chips. A lot of manufacturers are starting to look at using Qualcomm Snapdragon processors in their low powered laptops to provide not only low power capable machines, but NPU capabilities.

Intel is missing the boat here. How do they right the ship? Well, they're gonna have to get really good at making the chips that people wanna buy, and we're hoping that that's gonna, what's gonna happen with Panther Lake and Noble Lake, but they've gotta get back on track with all those other things that people want.

Now we've done research at the Futurum group and we presented at it earlier this year where, you know, IPCs are a growing part of the market, but I don't think that it is overwhelmingly the thing that people wanna buy right now. I think that there's still enough people out there who say, I just want a regular PC or the hobbyist kit, uh, groups that wanna build their own that might be willing to look at Intel if it's a capable enough system, but the bleeding has to stop at some point a quarter of your workforce. If you have to cut much more than that to save the company, you have to ask yourself, is the company worth saving at that point?

Well, with that particular little mic drop, let's turn our attention to happier days because those are coming up very soon. Courtesy of your friends at Tech Field Day. They're gonna be kicking off August 19th and 20th because Steven Foskett is gonna be bringing you Tech Field Day Extra at Share Cleveland.

We're gonna be talking about all the great mainframe related things that are out there. Yes, they still make mainframes. Yes, they're really cool.

com for more information about what's gonna be presented and who's gonna be there. Then after that, we're gonna take a couple weeks off and we're gonna be back the, uh, second week of September. Al what have you got going on on September 10th and 11th?

I've got AI Infrastructure Field Day, so it's shaping up to be a a nice fun event at the moment. We've got got TIS and Hammer Space, Broadcom and Satera signed up and a few more people who are, uh, just working through the paper and making sure that they're getting the right things in the right places. AI Infrastructure Field Day is where we cover all of the things you have to build before you can actually run your AI application.

There's an AI Field day a little bit later, but in between, between uh, AI infrastructure Field Day and some later events, Tom has some fun in the Valley as well. That's right. September 24th and 25th, we're gonna be back with the next edition of Security Field Day.

We had to make sure we're keeping it in a nondescript spot with a low attack surface. And we're also very excited to announce our latest presenter joining us for the first time is One Password. That's right.

com has the list of people, not only that will be joining us from the presentation side, but from our new delegates as well. Um, we're very excited to be joined by some of them and we can't wait to bring you more. But before that, we're gonna be bringing you more episodes of the Tech Field Day rundown.

We publish every Wednesday. We have our usual, uh, YouTube video selection if you'd like to see and hear us. If you would just rather hear us, we have our podcast feed.

Just search for the Tech Fuel Day rundown. If you would prefer to just read the show notes, uh, 'cause there are those people out there. Um, head over to Techstrong It and check out the show notes and all the other things that we're all about here and we'd love it if you'd leave a, a like or a comment if you're not already subscribed.

We'd love for you to do that as well. It allows us to know what is really twigging onto the things that you are excited about in the industry, whether it's the endless parade of security breaches or perhaps some exciting acquisition news as we get close to the end of calendar year Q3. Um, some companies may be, uh, opening up the coffers.

We'll have to see, but no matter what it is, we'll be back on Wednesday with another episode of the Rundown. Until then, go out and get yourself cheesecake. I think you burned it.

We'll see you next week.