atlassian is the poster child for product led growth but it though had a bad quarter and i think that investors will have to ask the question during this time of economic disruption does product-led growth continue to work in the same way it did when maybe you are keeping the same customers but their own consumption isn't as big as it used to be you are not necessarily expanding as much, but do you still grow without having sales and marketing to push that to happen >> it is all sort of coming together the things that we've been talking about for several weeks even months. i don't know if you saw challenger layoffs yesterday, but the increased year on year is substantial, but biggest year on year vertical in terms of layoffs is tech. >> and in the big macro picture, does that leave to a change of said policy down the road. i think the services sector still makes up the majority of the u.s. economy, do we need to see layoffs there, do the tech layoffs really matter for that macro picture. certainly here it doesn't. meantime doordash raising up after reporting beats on the top and botto

the poster child for that model has been at atlassian.itted during this time period. the beautiful thing about the models is they are not as top heavy as old software. software used to be steak dinners and deals that were seven figures. that changed there is a convergence with the seller and buyer that has come into enterprise software that is all good until recently. what we see now is the free users that converted to paid in the case of atlassian and others are no longer converting to paid we think the models are durable. through this time period and typically through tougher and more challenging spending times, companies like salesforce and service now, companies that are tested and have big platforms to gain share, those are the companies that we expect to come out really strong. >> we are seeing a lot of layoffs with tech. one of the things we have seen before the run of layoffs is people increasing sales team previously said they increased sales team a lot of companies were trying to do that the product led growth do you see a shift

up and on an important enterprise upstart when we get results from names like bill.com, godaddy, atlassiane caused havoc for some consumer names, etsy and ebay jumping this morning on the back of relatively strong results from both names i would point out, etsy still off 55% year to date ebay off just 40% year to date but carl, godaddy and bill, you don't always talk about bill.com when you talk about fintech, but it's a fintech company, not for consumers but for small and medium business. let's contrast that and see how they're doing sort of as a back office software cloud play there. are businesses, smaller businesses still moving to them as they might need to at a time when there's a lot of belt tightening >> i was looking at morgan stanley on etsy. higher income consumers showing some signs of slowing incrementally, and frequency per buyer. gms per buyer does appear to be retreating habitual buyers declining, maybe for the first time in four years. >> prior to the news conference yesterday from fed chair powell, you saw investors sort of picking at some of these unprofitable tech names

look at tesla, down 3.6 4%, worst performer on the nasdaq 100, hold up do not adjust your tv set, atlassian down 28%, twilio down 34 percent, something wrong in the software percent -- sector. emily: you have us all paying attention thank you for removing your glasses there. also happy birthday by the way. big birthday as i understand it. have a great weekend. i want to get to twitter now and a slew of companies pulling advertising from the platform. bloomberg's alex has been following it all for us. elon musk says there is a massive drop in revenue he blames it on activist groups pressuring advertisers over content moderation issues though nothing has changed next -- yet. who is leaving? guest: audi, gm, pfizer, big names are leaving. to your point, elon tweeting yesterday, tweeting a pole what do advertisers stand behind, free-speech or political correctness? probably a false choice for the brand, they look at twitter is a place but dollars and find return. that return is number one in their minds. as we have seen twitter, the business, convulsing the last week laying off half of the work

check out the biggest laggards lucid, lam, atlassian, docusign. back in two minutes. >>> layoffs are rippling across big tech activist investor pci fund calling on alphabet to cut yesterday and meta slashing 11,000 jobs last week. thanks for having me here. so these cuts, are they enough to get these operating models on the right path >> you know at this point i think it's a start, right? we've certainly seen a slow down in the advertising business over the last six to nine months, so this is clearly a response to that to try and preserve those margin pressures i think over time i think the top line and the overall macro around ad spending in these two businesses in particular remains the big question mark. what we're hearing from this conference even yesterday and today there's a lot of concern not so much about q4 but what happens ad budget if we start out early next year, right so, fine, you can cut 10, 13, 15% of employees certainly helps stop the bleeding for now if there's another leg down you see the same thing in further cuts >> in a lot o