STANFORD UNIVERSITY FOOTBALL MEDIA CONFERENCE

April 1, 2025

Frank Reich

Andrew Luck

Media Conference

THE MODERATOR: Good afternoon, everybody. Thank you so much for joining us here today. We'll start with opening remarks from the General Manager for Stanford Football, Andrew Luck, who will introduce our interim head football Coach Frank Reich.

ANDREW LUCK: Nice to see a lot of familiar faces. Good afternoon to everybody. I could not be more excited for our coaches, our staff, our players, for myself on a personal level, to have Frank Reich as our 36th head coach for this program in Stanford football's history. He's our interim coach for this 2025 football season.

I experienced firsthand the incredible impact Frank demonstrated as a leader and have full confidence and conviction that he is the perfect steward for this season of Stanford football.

He's a teacher, he's a winner, and a coach of the highest caliber. His values align seamlessly with our vision, my vision for this program. I know he'll maximize the on-field potential of our players, our student-athletes, and at the same time he'll serve as an incredible role model, mentor and leader for their personal growth.

I have to say I called Frank last week, and he was shopping at a Costco in Greensboro, North Carolina. Thankfully he answered the call. We chatted. We chatted again some more and made this right.

But it fills me with joy to announce and to share with you all that Frank Reich is the interim head coach for Stanford football.

(Applause.)

FRANK REICH: Well, thank you. It's great to be here. I want to begin by first thanking President Levin. Had a nice meeting with him when I was here. Just so impacted by him, just hearing his vision, just getting to meet him personally.

Of course, thank you to my fellow competitor and friend Andrew Luck for this opportunity. I could not be more excited.

Andrew is the ultimate competitor, ultimate teammate, ultimate leader. So to be able to join him in helping him fulfill his vision for this program is an incredibly exciting opportunity for me.

But most of all I want to thank my life Linda. Us coaches, we know that the coaching journey is an interesting one. There's a lot of moving. We have an incredible partnership. We've been married almost 39 years. We partner together in life, vocation, ministry, everything we do. Thankful to her and her blessing to come and fulfill this opportunity.

Talking to Andrew, the objectives are crystal clear for this 2025 season. First of all, come in and work with these coaches. I'm excited to do that. After two days, quality coaches, quality men. I can feel that the second I met with them. I'm going to give them everything I have, nurture, prepare. We'll make each other better and bring every ounce of football energy and leadership that I can bring to the coaching staff.

But ultimately it's about helping to teach the players to prepare, practice and perform at an elite level. That's what we're here to do.

Secondly, the second objective, is to help, as I already mentioned, help Andrew fulfill his vision for this program, bring Stanford football back into prominence.

The one thing that I really appreciated, and it's probably maybe the thing that made me come out here, is that we both agreed that this interim label does not mean a step back, it does not mean hitting the pause button, it means we're moving forward.

The seeds of what can be a long-term vision can be planted this year as far as culture, performance and winning football goes. That's our plan and that's our objective.

Thirdly, third objective, is for me personally, at 63, what an incredible opportunity for me to grow as a person. To come to one of the most prestigious universities in the world, to interact with the students, the faculty, the other coaches, the alumni, looking forward to that. I know that's going to be a very rewarding experience for me.

I also know that I not only want to grow personally, but I'm here to help others grow, particularly the players. I can't wait to dig down into their personal lives. I've had this mantra like many coaches: A better man makes a better player. We'll coach the whole person. We'll coach the whole person.

I would lastly say on a personal note, interesting, got the call from Andrew, then just sitting down and talking with my wife Linda, three daughters, Lia, Aviry and Hannah. As we sat there and I explained to them after Linda and I talked that I was going to come and do this, interestingly enough, they were like, Dad, what are you doing? Counting your college career, you've had almost 40 years of football, great success, playing and coaching, six Super Bowls, comeback things, million winning seasons, you've played with the best, coached with the best.

I told my family, The mission is very clear. After almost 40 years, it's going to be my personal mission and my belief that 2025 season can be the most rewarding one yet.

I can't wait to get started with my friend and these players and these coaches. It's going to be a very rewarding experience.

THE MODERATOR: We'll now open it up to questions.

Q. Frank, can I get your thoughts on making the adjustment from coaching in the NFL game to the college game. What are things you can take and what are some differences you can expect?

FRANK REICH: From a football standpoint, I don't really expect a big difference. The standard is elite. We're trying to be the best. Andrew has made that easy on me, okay?

Normally the head coach of a college program like Stanford, you have a whole lot of other responsibilities off the field. My focus is football. Andrew said, Come here and coach these coaches and coach the players.

Andrew is going to assume a lot of the things that a normal head coach would take. He's going to take those responsibilities for the time I'm here as a head coach. That's one of the attractive things about it.

ANDREW LUCK: I'll answer that a little bit, as well.

I think good football is good football. Frank certainly is a learner. Part of why I loved playing for him, he was always learning, I was always learning, coaches were always learning.

There are rules in college that are different. He'll get caught up to speed on those. But I think the foundation of good football translates to any level, Pop Warner, high school, college, NFL. That's part of what the excitement that our players are feeling, I'm feeling and our coaches are feeling.

Q. Frank, when you were at that Costco and the phone rang, what was your thought? When you saw there was a vacancy at Stanford, did you think this was a possibility, knowing Andrew? What were you doing otherwise? If this didn't come up, would you have tried to go back into coaching?

FRANK REICH: No. As great of an experience as I've had in the coaching world, honestly my wife and I sat down after the Super Bowl this season. I had been offered several other positions in the NFL at various different degrees and levels. They weren't the right fit.

I told Linda going into this hiring cycle, I would only consider something if it were the right person and the right place. That was our clear vision.

After this football season, after the Super Bowl ended, we were moving on in our life. Obviously the timing of this was different. When Andrew called, it was the right person and it's the right place.

Q. Even though you've only been here for two days, is there a specific part of Stanford or Palo Alto or the Bay Area that you have connected with?

FRANK REICH: I think it's a little early for that. No, it's not early for that.

It's obviously been two days, but the people that I've met in two days, the quality of people, getting a chance to sit down with the coaches at length, the players, I've had a chance to interact with some of the other staff.

As I said, my visit with the president, the 15 or 20 minutes that we spent together, was incredible. It's really about people for me ultimately.

Q. The timing here is unique, right? When you were moving on, did you think about trying to find a permanent coaching position before settling on the interim? What was the thought process there? What is the right direction to go?

ANDREW LUCK: The timing is certainly unique. It's not traditional. That is absolutely one way to describe it.

I think when I realized we have to move forward, what's best for this program, our coaches on staff, kids, they have a lot of belief with the coaches and sort of the options of how you move forward, not necessarily who you're moving forward with, but how.

It became more evident to me as I sat and thought about it that the ideal situation was an interim for this season, right, that could come in and, like Frank said, not take a step back, but keep moving forward.

When I show up at work, how do I right by our kids, how do I do right by the people in this program. When Jay Green, one of our upperclassmen safeties called me, we didn't quite exactly know what was going on yet, it hit me. I said, Jay, this isn't the NBA, man, we're not tanking for the first pack in the draft, right?

We need to win this season, we need to take steps forward. This could be the last football season for many seniors of their career.

The options, is it a long-term coach, is it interim, promote from within. The schema, the heuristic around this coach is what I wanted, and Frank was the best option for this schema, as well. It worked out.

I think I was walking around with my fingers and toes crossed for four days hoping this was going to work out. I think it's a way for us to move forward in all the right ways, yeah.

Q. Is there a world where at the end of this first year, Frank, if you like this position, Andrew, you like what he's done, there's more than a one-year stewardship?

ANDREW LUCK: There's not. That was maybe the third sentence that came out of my mouth. The response from Frank was, That's perfect. This year is what works for my life, this year is what works for Stanford football. It reaffirmed why Frank was the first call for me. It reaffirmed why I loved playing for Frank.

Our relationship certainly as quarterback, play-caller, head coach when we were working together at Indy. When we were successful is because we were direct, transparent and honest. We knew where we stood.

I knew if this was going to work, because it is a unique situation, odd timing, that the first step needed to be 100% transparency from both sides about how this would go this year. And he's here.

FRANK REICH: I would just add to that, going back to the players and the coaches. When I sat down with them and met with them yesterday, we didn't skirt around that issue. We went right up and said, This is unique, let's embrace it together. This can be something to remember. This can be very special. 2025 can be a special season.

This is what we were both looking for. This is the perfect scenario for both of us. I mean, it fits absolutely perfect. Just because it's a one-year deal does not mean that we can't take a major step to helping fulfill this vision, have massive success, and what that looks like in the whole picture of success, not just the immediate ways that come to mind, but the whole picture of success.

I feel like in the 2025 season, I can make an impact to go in that direction.

Q. Frank, when you took the job in Indianapolis, also unusual circumstances, you inherited a staff, how is that experience going to help you here?

FRANK REICH: Yeah, it definitely helps. You have to be nimble, you have to be able to adapt. Thankfully in both cases I was going to amazing organizations who had good people in place.

Honestly, when I came here, Andrew told me the staff was very good. He said much of the staff is younger. After one day of meeting with them, I said to Andrew, You underestimated how good this staff is. I didn't say it in those words. I know they're young, because that's honestly as the head coach, that is a big question. It's hard to go in and you're normally bringing 'your guys' in.

But we came, we told the staff, Listen, sometimes you earn trust, we're starting with we are trusting each other, we're together, let's go make this a special year.

Q. Andrew, when you took this job, how aware were you of the reports? What changed from July to March other than it became public?

ANDREW LUCK: I served on a committee, adjacent to our board, so I was made aware that there were investigations, wrapped up very superficial level last summer. Then when I took the job, as part of my onboarding process, the whole thing, I was briefed on the matter.

Part of my role certainly has been assessing this program from the day I took the job. I think even a week ago I thought the direction for our program was different than where we are now.

But with time, like on many things, new data points, a deeper and new perspective, realized it was time for a reset at the head coaching position. While perhaps the timing is non-traditional, it was the right time for this program and for us.

Q. Andrew, we all know the positives that the institution has. As you've described, it's a unique situation. Now given the transfer portal and NIL, is there a stigma that you kind of have to overcome right now to convince people they want to come here?

ANDREW LUCK: We got a lot to prove here. We got a lot to prove as a football program. I'm fine with that. That's awesome. I wouldn't be here if I didn't feel like there was alignment and support from our university, from our athletic department, from other coaches, from other folks, as evident who is in the room right now.

Look, maybe not stigma, I'm not sure. But I'm well aware of what I hopped into. We need to go out and win. We need to go prove we can win. I still believe we are an incredibly unique institution. We are different than every other. We're proud of that. We're playing the game. Revenue share, we're in it. We're here to win, we're here to compete.

Part of what I love about this place is the ethos. The pursuit of excellence matters. Competing at a high level matters. Our president wants that. I want that. Coach wants that. Our players want that. Everybody in this building wants that.

Yeah, we got to go prove it. We got to go win. Yes, we're playing the game with everybody else. I know that our locker room feels that. You don't want to have losing seasons. No one wants that. You didn't come here to do that.

I know out on the recruiting trail, the transfer portal, it is change in college. Are we in a perfect place? Absolutely not. But I know we're set up really, really well to adapt to changes, to hold onto our core values, to go win football games, and make our university, our community very proud of what we're putting on the football field.

Q. Can you give an example of your history, why you guys connected so well in Indy that you would reunite here. What about that relationship in Indianapolis made this moment possible?

ANDREW LUCK: I'll start if you don't mind.

There's a lot that goes there. I think of examples. I came back to the 2018 season, coming off a year missed to injury. There was a part of me that wondered if I'd ever play football again, if I'd ever find the joy, of what that was. I did. I got to do it with Frank, Nick Sirianni, Marcus Brady, Jacoby Brissett. There's a cast of characters from that year and a half of my life that hold deep, deep meaning for me.

So deep that after that season, my wife and I just celebrated our sixth wedding anniversary yesterday. 'Celebrated' is way too strong of a term, because I definitely I forgot it. To be fair, she forgot it as well. Our brother-in-law reminded us.

She called from the road. I thought, Frank married us, right? We had our wedding somewhere else, we came back, went to city hall. Way too much of a process in Indy. I know someone who is an ordained minister at some point in his life. Let's call Frank up. Frank married Nicole and I.

Working together. Again, I didn't know if I was going to play. Frank preached trusting a process, trusting getting better every day. I tried to embody that. We did.

I mean, I think I remember that training camp. By the time the season had rolled around, I don't think I'd thrown a pass more than 40 yards in practice. I didn't know if I could. Trusted our process, trusted our process. Got to a point where we had a pretty magical season, did some pretty good things.

Frank is a football coach, from a football family, obviously had this incredible career, incredible coaching career. His team meetings, in one of the first team meetings in Indianapolis, he brought up Emil Zátopek. He was a Czechoslovakian runner, Olympic runner. My wife is Czech, my wife's family is from Czechoslovakia. Escaped to the United States. I know who Emil Zátopek is. I'm going to go buy that book after the team meeting.

I think I connected to a lot of things. The paradigm through which Frank saw the world, saw football... I felt like I grew more than I ever had as a quarterback, as a leader through that through tough times and through good times. That's why he was the first call honestly. Let's move forward. It's what I know he can help our coaches and players sort of feel a lot of that, as well.

FRANK REICH: Yeah, I would echo the love that we have for the process. Being in a highly competitive field where results are really what we're measured by, we both are wired the same way. We know to get the results that we want, the process has to be right and the people have to be right.

That season when we started 1-5, I told anybody I could ever talk about this. How do you come back from 1-5, win 9 of 10, win a playoff game, be the one team in the league that nobody plays? When you have players that embody that 1% better every day, 1-0 mindset.

I've never been around a guy that embodied that like Andrew. From a football perspective we clicked. As fellow quarterbacks, watching him play and lead was the thrill of a lifetime as a coach.

So but then off the field, what I really appreciated about Andrew, although we were both extremely wired and competitive and want to win at everything we do, there was another side of Andrew that knew everything, had other interests. I'm very much wired that way as well. We could connect on a personal level off the field as well.

Q. Andrew, you mentioned revenue sharing. That could become more real next week with the House settlement. Stanford has already said they're prepared to play that game. What does that mean? What can Stanford do to be active in the revenue sharing world?

ANDREW LUCK: Absolutely. No, we're preparing for it. I think if the House settlement doesn't go through, who knows what college football looks like in a week. So we're preparing for it like everybody else. Same rules as everybody else. The same salary cap.

Our athletic department, our university, we have our allocations to different sports like everybody else. Part of my job is making sure we're fundraising, creating new revenue streams, making sure this is a model that works here.

Look, we're well aware to compete, to be at the highest level, we do have to play that game. I know we're going to play it in a way that resonates with us as an institution, with our athletic department, and who we are as a team, yeah. Excited about it. It's part of steps forward in college football, right?

Look, I don't think anybody thinks what the 2025 season structure looks like for college football is going to be the structure in perpetuity. There's still a sea of change.

I know a couple things are certain. We got to go out and win. We got to go out and play darn good football, get people excited about Stanford football here in the Bay.

Q. What do you think some similarities and differences are going to be between your relationship on the field and in the office?

FRANK REICH: He's the boss (smiling). I was the boss the last time, so... I can do that for one season maybe (laughter).

ANDREW LUCK: Ditto.

Q. In the time you're going to be here, what are your specific goals, especially given all these players exiting after Troy Taylor's firing?

ANDREW LUCK: I'm not sure all the players exiting is staying with the most fidelity to what's going on.

I'm really proud of our locker room. Certainly the transfer portal is a reality for all schools. We have an amazing group of guys. We get to get on the field today and practice, which I'm looking forward to.

Look, our goals haven't changed. I committed out of high school, I committed to Stanford. It was a team that had gone 1-11 the previous year, hadn't beat Cal in a while, hadn't been to a bowl game in a while.

We have goals as a team. Our seniors want to go out and beat Cal. We want to beat Cal. We want to win a bowl game, right? That's important to this program.

As coach said, we're not here to take steps back. We have no intention to be an also-ran season. This has the potential to be memorable, special, and that's what we're working for.

Q. Recruiting is different with an interim. How much more involved in that process do you have to be knowing you're the person who is here when the class is on campus?

ANDREW LUCK: The recruiting question is absolutely part of the equation for every decision you make in college sports. I'm certainly realizing that, realized that day one last December.

Yeah, I've been way more involved in recruiting since I joined than probably a traditional general manager would. That's also part of the setup of our structure in the office.

Look, we're not taking a step back in recruiting either. I think our young men out there that are tough, that are bright, that can play good football. Certainly this institution endures. This is the best school in the world, will stay that way. Those young men know also I'm here, providing that continuity for them.

We have a vision. Shoot, Frank is here to help support that vision, keep it going in the right direction. We'll keep that going. That doesn't stop. That doesn't change.

Q. Coach, not every double-digit player in the NFL decides to go into coaching. Why did you do decide to go into coaching? Who have been your influences to go into coaching or along the way?

FRANK REICH: Yeah, first my mom and dad. My mom and dad were both coaches, high school coaches. My brother's a coach. I just come from a coaching family. We're just wired. I love teaching, like Andrew said. That's ultimately what I want to do, teach and inspire, teach and inspire. That has always come through football.

In the coaching world, I played for Marv Levy, I played for Bobby Ross, coached under Tony Dungy for a year. I've been around some really elite coaches to really get the philosophy of coaching I have, and that's it's all about the process, it's all about getting smart, disciplined, tough players, because they keep figuring out ways to get better.

As a coach, it's exciting and invigorating to be around people who are always looking to get better. I think that's probably the thing, more than anything, that keeps drawing me back to this profession.

Q. You mentioned a couple times that interim was the way to go. Why? How seriously did you consider hiring a permanent coach? Why did you ultimately decide this was the best structure?

ANDREW LUCK: Timing is obviously a part of it as referenced before. I explained this to our players, as well, at least those I was talking to throughout spring break. There's answering two questions. What is best for this 2025 football season? Because I owe it to these guys. We're not laying down, right? This isn't a give-up year. We have to step forward, we have to move.

What's best for the future of Stanford football? What's best for the longevity of Stanford football? I realized that answer may be the same or the answer might be two separate things. Two separate answers can be right.

So when I sat and thought about it, including timing, about what I owed the guys in the locker room now, what I owe the guys in the locker room next year, et cetera, that getting an interim here to help invest in the staff, because I believe in them, and this locker room today, because I believe in them, that the interim just made more sense. It made more sense for our direction, for where we want to go.

Look, it's no secret I'm pretty green on the job, right? It's been a couple months. There's a lot more I also would like to figure out, system, structure, how to do this thing, how to get better at this thing, right? That made me think, yeah, interim is the best.

Really it's the best because Frank is here, too, right? The people do make the answer work. Frank is making this answer work. I've got a lot to learn from Frank. I can't wait to pick his brain on a lot of this.

Again, I think the structure, as I kept thinking about it, not even at an intellectual level, something felt right about it instinctually. I'm trying to make sure I listen to that, as well.

FRANK REICH: That's good.

Q. Coach, what are the main things you most want to emphasize with the team as you begin spring practices?

FRANK REICH: That's an outstanding question. And I'm not going to go into the detail of that.

Yesterday in the first team meeting, we detailed that and made it crystal clear. We went over what our seven standards will be for the 2025 season. Those are standards that every player and coach is responsible to know, embody and embrace. We covered those in detail yesterday with a lot of excitement and passion around them.

I was very rewarded to be speaking to a group of men that I could feel their energy as we were going through them. Coaching is so much about, especially when you have the right environment and the people in the room, listen, even these guys at the professional level, even these guys know 90% of what you're telling them. They've heard it before. It's a matter of emphasis. It's a matter of execution. It's a matter of the right culture and teamwork and chemistry to do it together. It's a matter of a lot of trust. That's really what we were trying to create.

We went through each standard and we talked about how we were going to hold each other accountable, how we were going to measure those standards, hold each other accountable to those standards, and really believe that can be a foundation not only for this program but for them in their personal lives, as well.

Q. Obviously you can't have that dialed in when the next permanent coach will be here. Can you outline what that process will look like in terms of when you expect to dive in on that? If there's a perfect world, what does that look like in terms of timing?

ANDREW LUCK: We're hiring a coach after this season. I feel like I just finally came up to (indiscernible). I'm going to take a few breaths, half a victory lap for a second, then get into what does our process look like as we move forward.

Look, we're all in on this season. That's what our players feel. That's what our staff feels. When the time is right, we will be working on the process for what's next, yeah.

Q. Coach Reich, being on a campus with a lot of other great athletic programs, are there other teams you're going to be watching or supporting?

FRANK REICH: I'm glad you asked that. Having daughters that were Division I swimmers, I walk by the pool, by the aquatic center every day. In fact, I was walking by this morning, talking to my one daughter, flipped it onto FaceTime. Any desire to hop back in that pool?

Even Andrew, right before we came here, there was a coaches' meeting, head coaches' meeting. I popped in there. There's 30 coaches in there. Had a chance to meet them, be introduced to them.

Andrew is a fan, as well, of the other sports. We've already talked about the fun we'll have just personally as friends going and watching some of the other sports as time allows for me serving in the role that I'm in.

But I certainly am a swimming fan. I definitely am a swimming fan.

ANDREW LUCK: We've got a staff outing for the baseball Sunday game. I know that. A big chunk of our team will be breaking the attendance record at Stanford Stadium for college softball on April 19th. Did I get that right? Had to get a plug in for Jess and the gals on the team. That's good.

Q. Andrew, you said you walked into this job eyes wide open. I also can imagine it's been a wild couple of months. What's the biggest thing you've learned?

ANDREW LUCK: It's been a trial by fire certainly in many ways. Thankful for that. Opportunity to grow. Opportunity to learn.

I'm most appreciative of the folks, the people. I think we got a bunch of good people in the football wing, a bunch of good people in this athletic department. A president and provost who deeply care about our university, all aspects of the university. I feel that. I feel that.

I think maybe this echoes one of the themes of today, the people theme. People matter. They matter a lot. I'm thankful to be surrounded by great people. It's part of what gives me an incredible sense of optimism for what we can do as a football program both this year and in the future.

Q. Coach, being that this is a one-year thing, how does that potentially change or maybe affect the dynamic of how you might approach things from a game management standpoint? Does that make you perhaps a bit more apt to be a bit more aggressive in some situations?

FRANK REICH: Great question. It won't affect it because we operate according to certain principles. One of the those principles is I'm naturally pretty aggressive in calling the game and in managing the game. That aggressiveness comes from a belief in the players and the coaches.

However, we won't be reckless. We're measured. We have a measured aggressiveness. We understand a man of wisdom avoids all extremes. We're not going to be we're going to be aggressive, then you're going out there to prove a point like you're not afraid. That's not very smart.

We want to be calculated, measured, but we want to be very direct and assertive in our aggressiveness at the right times. That will come through the confidence that we gain through preparation, through execution, as we see the coaches and players handle the situations, as we teach each other to be ready for those situations, not to fear those situations, but play to win in every situation.

Q. You both made references to the staff. Will you be bringing any coaches or is the whole staff returning?

FRANK REICH: I mean, Andrew made it clear, he's got confidence in who is here. There's no additions. I'm kind of thankful for that, even though there's some great people out there I know I could bring in. That also makes it more complicated.

I'm excited with the staff that is here. We got everybody we need in the boat. We just got to start paddling all in the same direction.

Q. Although Stanford hasn't won too many games in the last couple seasons, you have won a lot of big games. How do you plan on keeping that tradition of beating some good football teams?

FRANK REICH: Get 1% better every day. I said to the players yesterday, if we commit to doing that, if we commit to become the best at getting better, if we can understand what it means to commit to being the best at getting better, then there is no limit.

When you fill up a room like this and you take the cumulative effect... If one person does it, it's great. If you get everybody in the room doing it, and you have the cumulative effect of that, amazing things can happen. Amazing things can happen.

I've experienced it personally many times as an individual and as a team. So that's my expectation. I don't want to get the cart out in front of the horse. I understand it's not easy, but I'm also very optimistic because I have a sense of the quality of the players that are here, what they want, what they want for this season.

If they're ready to commit and go all in, I've already assured them I'm all in for this season, and together we can have a very successful season.

Q. When it comes to the team, being that we've talked about it being a one-year thing, you talk about wanting the guys to be able to commit to getting better, turning the program around, how hard of a challenge do you think that will be for you, understanding when players are with a new coach, there's a deadline, they may or may not be willing to completely buy in?

ANDREW LUCK: I think it's a fantastic question. When I think lot about, one, our players see me a lot. They know there's a level of continuity with me and their teammates, a bunch of what's going on. The reality of college football is that it is changing every day, right?

Look, Frank doesn't have to worry about it. Principles and values and culture and taking a step forward, that's enduring. That will last. That's what we're feeling. That's what we're preparing for. Frank is here, staff is here, and we're doing something that will last in many ways. That's part of why I have deep conviction that this will work.

FRANK REICH: Well said. I'm not going to add to that.

THE MODERATOR: That will conclude our press conference. Thank you so much for coming.