WEBVTT - Ring Founder Jamie Siminoff Talks AI's Role in Home Security

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Rings, super Bowl ad showcasing AI to help find lost

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<v Speaker 2>pets has put a new spotlight on the expanding role

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<v Speaker 2>of artificial intelligence in home security, and it's raising fresh

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<v Speaker 2>questions about surveillance joining US now. As Jamie Simonoff, founder

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<v Speaker 2>and chief inventor of Ring, Jamie safe to say, these

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<v Speaker 2>cameras have become ubiquitous. I saw in Weapons, you know,

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<v Speaker 2>they were highlighted as a way to investigate the disappearance

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<v Speaker 2>of children. That was a fictional movie, but clearly, clearly

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<v Speaker 2>law enforcement is hoping to use these cameras more and more.

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<v Speaker 2>How do you where do you draw a line between,

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<v Speaker 2>you know, helping people find lost pets or people and

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<v Speaker 2>trying to limit the surveillance of US citizens.

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<v Speaker 1>I mean, the line for us is simple, and it

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<v Speaker 1>always has been that you control your video and if

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<v Speaker 1>you want to share it with law enforcement, if you

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<v Speaker 1>want to share it with a neighbor, you can do that.

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<v Speaker 3>But you always control your video.

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<v Speaker 1>In the case of search party for dogs, we just

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<v Speaker 1>tell you, hey, this dog looks like this dog in

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<v Speaker 1>front of your house. Do you want to contact your neighbor?

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<v Speaker 1>If you say no, you're one hundred percent anonymous. If

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<v Speaker 1>you say yes, then you talk to your neighbor, just

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<v Speaker 1>like you did when you found their dog in front

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<v Speaker 1>of your house years ago and called the number on

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<v Speaker 1>the tag.

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<v Speaker 4>I do want to just ask you, because there's this

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<v Speaker 4>big question of surveillance and the usage of it. You

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<v Speaker 4>had told Fortune talking about the missing case of Nancy Guthrie,

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<v Speaker 4>basically saying that there are more cameras in the house,

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<v Speaker 4>you might have been solved. And Jamie, you face a

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<v Speaker 4>little bit of backlash online for those comments. So I

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<v Speaker 4>would love to just give you the opportunity just to

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<v Speaker 4>explain your thinking there and clear up any misunderstandings.

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<v Speaker 3>Sure, I mean, if you actually saw the quote, it's

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<v Speaker 3>not that.

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<v Speaker 1>But what I did say and what I do is

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<v Speaker 1>I wake up every morning, you know, with a mission

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<v Speaker 1>and knowing that the business that we're in has been

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<v Speaker 1>extremely impactful, and we see it. The video evidence that

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<v Speaker 1>so far that they have in the Nancy Guthrie case,

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<v Speaker 1>I think everyone would agree is some of the most

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<v Speaker 1>impactful evidence in the case.

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<v Speaker 3>And so what I.

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<v Speaker 1>Did say is that if there had been just more

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<v Speaker 1>cameras in general, I would have hoped that this would

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<v Speaker 1>have helped us get to a resolution in the case,

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<v Speaker 1>and that is what I believe in. I mean, this

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<v Speaker 1>is what I do every day, and I think it's

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<v Speaker 1>hard to watch a dateline episode or anything else not

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<v Speaker 1>seeing where ring has had a major impact in helping

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<v Speaker 1>solve cases. And I do believe, you know, as I

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<v Speaker 1>think I should, that more cameras should help solve more

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<v Speaker 1>cases and reduce more crime.

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<v Speaker 2>How do you work with cybersecurity within your firm, because

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<v Speaker 2>you know, I also have a ton of cameras around

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<v Speaker 2>my house and I would hate to have anyone else

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<v Speaker 2>tap in to that network and use my video surveillance

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<v Speaker 2>against me. I'm sure it's something you think about often, Jamie.

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<v Speaker 2>So what kind of work do you do to counter

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<v Speaker 2>that kind of cyber attack?

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<v Speaker 1>Yeah, I think cyber and security is a living, breathing thing.

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<v Speaker 1>You have to just continue. I mean, you have to

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<v Speaker 1>consue to invest in it. You have to have people

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<v Speaker 1>always looking at it. It's always changing and evolving. I

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<v Speaker 1>think we're best in class in it. Also, we offer

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<v Speaker 1>I believe we're one of the only companies in the

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<v Speaker 1>world that offers in this space and and encryption as

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<v Speaker 1>an option. So we really do focus on security. We

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<v Speaker 1>focus on trusts we need we call our customers neighbors.

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<v Speaker 1>We need our neighbors that trust us or else obviously

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<v Speaker 1>they're not going to want to have our products, and

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<v Speaker 1>then I can't achieve my mission of making neighborhoods safer.

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<v Speaker 4>And Jamie just just on this point bringing it back

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<v Speaker 4>to AI too, because AI is advancing so rapidly. There

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<v Speaker 4>was the story, for example, of a Chinese home vacuum

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<v Speaker 4>robot brand that's someone used Claude to hack into and

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<v Speaker 4>accidentally hacked all seven thousand of those robot vacuums in

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<v Speaker 4>the world. AI is getting really advanced, but it's also

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<v Speaker 4>exposing some security flaws. What do you and the team

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<v Speaker 4>need to do at RING to make sure you're keeping

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<v Speaker 4>up with the technology, not just mistakes like that, but

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<v Speaker 4>bad actors who are increasingly able to use AI.

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<v Speaker 5>I mean, there's always been security threats, and the security

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<v Speaker 5>threats I'd say, what's good is it as AI gets better,

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<v Speaker 5>it means that your counter security, you're you know, countering

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<v Speaker 5>these kind of things, is also getting better. And so

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<v Speaker 5>it's just it's just a cat and mouse game that

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<v Speaker 5>we've always had from the beginning of the company, and

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<v Speaker 5>you know, I believe we're vesting class at it, but

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<v Speaker 5>it is something you have.

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<v Speaker 3>To stay focused on.

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<v Speaker 5>I mean security for every company in the world, you

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<v Speaker 5>got to stay in your toes, but you always had to.

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<v Speaker 5>AI is just the new thing that's happening today. And

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<v Speaker 5>then you also help, you know, use this technology to

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<v Speaker 5>also do the counterfeat so countermeasures.

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<v Speaker 2>I want to ask about manufacturing because President Trump is

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<v Speaker 2>trying to bring manufactur sturing back to these shores, and

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<v Speaker 2>Ring Camera obviously is a booming business that uses a

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<v Speaker 2>lot of hardware I would imagine for the most part

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<v Speaker 2>manufactured in Asia. How do you, when you talk to

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<v Speaker 2>the administration or when you talk to government leaders, impress

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<v Speaker 2>upon them the fact that you just we just can't

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<v Speaker 2>in this country really compete in terms of price on

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<v Speaker 2>manufacturing this kind of hardware, you know.

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<v Speaker 3>I mean, certainly it's a complex one.

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<v Speaker 1>You know, there's an ecosystem around this stuff, and that's

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<v Speaker 1>what we're seeing.

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<v Speaker 3>But I am hopeful.

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<v Speaker 1>That you know, over the next few years, with what's happening,

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<v Speaker 1>that we will continue to move and onshore things and

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<v Speaker 1>be able to do more of it. So I do

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<v Speaker 1>think it's going to take time for businesses like ours,

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<v Speaker 1>because there are ecosystem things. You know, there's probably nine

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<v Speaker 1>hundred to one thousand parts in every single ring camera

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<v Speaker 1>that come from different suppliers, and so it's going to

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<v Speaker 1>take time. But I am seeing I'd say a lot

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<v Speaker 1>of good, you know, positive sort of direction on that.

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<v Speaker 2>In terms of the tariff uncertainty that businesses are dealing with, Jamie,

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<v Speaker 2>how do you face that, you know, when you're when

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<v Speaker 2>you're looking at tariffs that are you know, twenty percent

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<v Speaker 2>and then all of a sudden they're eighty percent and

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<v Speaker 2>now they're fifty. I mean, how do you deal with

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<v Speaker 2>that as a as a CEO?

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<v Speaker 3>You know? I mean I'm sort of a CEO, but

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<v Speaker 3>I'm also a founder. You know.

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<v Speaker 1>I started this in my garage in California fifteen years ago.

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<v Speaker 1>I'd say tariff uncertainty compared to the things that I've

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<v Speaker 1>lived through is, while it is serious, it's not as

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<v Speaker 1>serious as all the other stuff that I've gone through.

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<v Speaker 1>And I think when you're a founder and you've you know,

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<v Speaker 1>faced bankruptcy many times and trying to raise money and

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<v Speaker 1>things changing that are completely out of your control, I

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<v Speaker 1>think he just fartens you a little bit. I have

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<v Speaker 1>a pretty thick skin. We just have to keep you know,

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<v Speaker 1>keep our heads down. I tell the team, like we

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<v Speaker 1>all we can do is control our inputs.

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<v Speaker 5>Just keep inventing great products, making neighborhoods safer, and we'll

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<v Speaker 5>get rewarded for doing that.

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<v Speaker 3>And we just got to, like, you know.

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<v Speaker 1>Hope that the world continues to go into a positive direction,

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<v Speaker 1>which you know so far it has.

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<v Speaker 4>So I'm ass thinking about the hardware that goes into it, Jamie,

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<v Speaker 4>I'm thinking about the coding and the software and the

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<v Speaker 4>technology within it. What does your talent pool look like?

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<v Speaker 4>Are you still expanding when it comes to hiring engineers

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<v Speaker 4>or are you looking at technology that's making your employees

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<v Speaker 4>more efficient and maybe means you need less of them.

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<v Speaker 3>I mean, certainly we are embracing AI.

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<v Speaker 1>I am, you know, pushing every team member here to

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<v Speaker 1>be AI first, think in AI.

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<v Speaker 3>We are seeing great efficiencies from that.

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<v Speaker 1>We're also growing really fast though, so it's hard to tell,

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<v Speaker 1>you know, we are still i'd say a net grower,

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<v Speaker 1>and so we are still growing. Our features are coming

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<v Speaker 1>out faster though now our product cycle times are definitely

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<v Speaker 1>been reduced by like you know, almost triple digit percentage.

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<v Speaker 1>I mean, it's like, it's incredible how efficient we are

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<v Speaker 1>now getting with AI and what it's doing. That said,

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<v Speaker 1>we're also still growing. We have lots lots of ideas

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<v Speaker 1>and business to build, so, you know, on the on

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<v Speaker 1>the bigger picture, I don't know where where that goes,

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<v Speaker 1>but I do know for Ring, we're you know, we're

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<v Speaker 1>still growing and still building.

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<v Speaker 4>And Jamie, can I just say it's always very cool

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<v Speaker 4>when a founder stays with the company through this era

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<v Speaker 4>of big growth too, so really fantantastic insight as both

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<v Speaker 4>the head of Ring and an inventor himself. Jamie Simonov

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<v Speaker 4>of Ring, thanks for joining us.