Could we start off talking about the movement here in this industry? You have Datto going public, SolarWinds potentially spinning out, you guys are talking about going public. There have been some big shifts since the last time we spoke.
It’s interesting. I think it validates a couple of things. One of them is that the underlying trend behind all of this is the digital transformation of small to midsize businesses around the world. We saw this in the enterprise. Most of us that are in software and technology business to business software and technology, it all started in the enterprise. When you think about the ’90s and the 2000s, that’s when companies like Microsoft -- which is a big enterprise-facing company -- Cisco, EMC, Oracle, this is when these companies, made their bones.
The reason why they grew so fast and all the investment happened was because big companies like Lockheed and Gillette, and, Citibank, they all started embracing and using technology as the core of all of their businesses. To the point now where Jamie Dimon, the CEO of JPMorgan Chase, in a very famous interview a couple years ago we quote it all the time, said – and I might have the figure wrong -- “We spend $8 billion a year in technology. We are a technology company.”
Now, if you go back, 10 to 15, years ago, JPMorgan could do that because they have armies of people to implement the stuff. But the little bank you know the Bank of Newton, Mass. or Framingham, Mass., couldn’t do it right. Why? Because there’s two IT people there. But technology’s gotten to the point, it’s a lot faster, it’s a lot more consumable.
So now, the benefits that the giant companies got, small to midsize businesses can get the same things. So they’re rushing to get it. And the way that small to mid sized businesses get their technology for the most part is through MSPs. That’s why you’re seeing companies like Kaseya, Datto, ConnectWise, SolarWinds, all of us are just we’re growing so fast, and we’re having the results that we’re having.