Ann: FY21 Q3 Conference Call, page-58

Great summary.

I though it was a good call with some robust questions by retail shareholders and, to be fair, Karl engaged well with these. I reckon the penny has dropped with him: every quarter counts now, and he needs to be more candid and clear in his communication and cut back on the rhetoric. He still has further to go, as he keeps banging on about fast growing tech company in spite of the slowing trend. The positive for us is that he has skin in the game. So we all want things to improve.

The story on things slipping by a quarter also has limited room to run. That said, decision-making on spend and investment in many large corporates has slowed during the uncertainty of the last 12 months, and we have seen that reported in quite a few tech firms commentaries in the B2B space.