Q4 Update

Staff,

With the holidays next week, and New Year’s close behind, I know that for many of you this is your last true working day of 2024. As such, I thought it timely to provide you with some updates on the progress we’ve made this year and the course we are charting for 2025.

First, the company-wide adoption of AI software has clearly increased efficiencies across our business. Of course, no one was happy about the signifiant layoffs that occurred in tandem. Our exceptional HR team is still working closely with those affected to help them retain COBRA health benefits and provide mock interview prep as they seek new opportunities.

Second, we all know our organizational reputation was hit hard this year by our unfortunately very public scandal regarding the misuse of government aid for private air travel. It is an honor to share that we have transitioned our entire leadership team to adopt a commercial-only travel model, in which they will only fly on planes also available to the general public.

Third, and finally, we were excited to report record-breaking returns to our shareholders at our annual conference in Punta Cana two weeks ago. The room was jubilant. However, this period of rapid growth has also led us to consider a difficult question: when we reach new heights, is there enough oxygen for all of us? The answer has begged us to reconsider team structure and size, which may impact some of you. Your manager will be in touch with you after the holidays.

Wishing you and yours a very merry holiday season. I myself am off to Palm Beach, a special place for me and my family. I hope you all have carved out similar quality time with yours.

Thanks,

Rob