IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
© 2026 Blank Capital Research. All rights reserved. System Version: Aegis V8 (God Mode).
Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#4681
Positioning
Market Dominance
Transportation, Communications, Electric, Gas, And Sanitary Services
Communication
$63M
Jonah H. Peretti
BuzzFeed provides breaking news, original reporting, entertainment, and videos across the social Web to its global audience. It also provides cross-platform network such as BuzzFeed Originals, which creates articles, lists, quizzes and videos.
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UGP ULTRAPAR HOLDINGS INC | 79 | 90 | 95 | 87 | - | - | 29.5% | 5.7% | 7.3% | 3.8% | 1.9% | -16.9% | 4.9% | 22.0x | $2.8B | VS | |
$TNK TEEKAY TANKERS LTD. | 78 | 94 | 97 | 82 | - | - | 24.4% | 20.6% | 67.0% | 30.9% | 32.8% | -16.6% | 7.6% | 0.0x | $1.3B | VS | |
$DHT DHT Holdings, Inc. | 75 | 84 | 88 | 78 | - | - | 17.5% | 12.2% | 54.8% | 36.8% | 31.7% | 2.0% | 10.9% | 40.0x | $1.5B | VS | |
$STNG Scorpio Tankers Inc. | 75 | 86 | 95 | 74 | - | - | 24.7% | 16.6% | 63.1% | 61.5% | 53.8% | -7.2% | 3.3% | 30.0x | $2.6B | VS | |
$NAT NORDIC AMERICAN TANKERS Ltd | 75 | 82 | 88 | 87 | - | - | 8.9% | 5.5% | 64.4% | 22.1% | 13.3% | -10.7% | 18.0% | 53.0x | $465M | VS | |
$AMX AMERICA MOVIL SAB DE CV/ | 74 | 86 | 81 | 68 | - | - | 5.8% | 1.5% | 61.1% | 20.7% | 3.2% | -13.7% | 3.5% | 202.0x | $44.7B | VS | |
$PAC Pacific Airport Group | 73 | 94 | 80 | 78 | - | - | 35.2% | 10.8% | 84.4% | 44.8% | 26.4% | -18.0% | 5.6% | 81.0x | $8.5B | VS | |
$GSL Global Ship Lease, Inc. | 73 | 82 | 94 | 81 | - | - | 26.7% | 15.6% | 100.0% | 53.7% | 50.1% | 5.8% | 7.7% | 47.0x | $753M | VS | |
$TRMD TORM plc | 73 | 86 | 94 | 65 | - | - | 32.7% | 19.3% | 58.8% | 40.9% | 38.0% | 2.5% | 30.1% | 59.0x | $1.7B | VS | |
$VIV TELEFONICA BRASIL S.A. | 73 | 82 | 90 | 78 | - | - | 7.0% | 4.0% | 43.9% | 15.5% | 10.0% | -15.9% | 5.6% | 0.0x | $12.5B | VS | |
$BZFD BuzzFeed, Inc. | 27 | 38 | 28 | 5 | - | - | -37.0% | -13.4% | 36.0% | -13.2% | -17.6% | -1.3% | 0.0% | 176.0x | $63M | ||
| SECTOR BENCH | - | - | - | - | - | 16.9x | 6.1x | 11.9% | 3.5% | 55.1% | 17.6% | 10.4% | 4.0% | 1.5% | 1.0x | - | REF |
BuzzFeed, Inc. (BZFD) receives a "Avoid" rating with a composite score of 27.2/100. It ranks #4681 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
Sign in to join the discussion.
YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Jonah H. Peretti
Chief Executive Officer
Labor Force
1,520
38
35
20
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for BZFD
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
High volatility — wider range of outcomes increases timing risk
Aggressive spending — empire-building risk, dilutive growth
Below-average composite — caution warranted
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Relative valuation derived from Transportation, Communications, Electric, Gas, And Sanitary Services sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for BZFD.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 38 | 33 | +5NEUTRAL |
| MOMENTUM | 5 | 2 | +3NEUTRAL |
| VALUATION | 28 | 20 | +8ALPHA |
| INVESTMENT | 35 | 46 | -11DRAG |
| STABILITY | 20 | 15 | +5NEUTRAL |
| SHORT INT | 17 | 4 | +13ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC -29.3% vs WACC 5.0% (spread -34.4%)
GM 36% vs sector 55%, OM -13% vs sector 18%
Capital turnover 2.87x, R&D intensity 6.5%
Rev growth -1%, 5yr history
Interest coverage -4.2x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags BuzzFeed, Inc. with an Avoid rating, assigning a composite score of 27.2/100 and 1 out of 5 stars. Ranked #4681 of 7,333 stocks, BZFD falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
BZFD's quality score of 38/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -37.0% (sector avg: 11.9%), gross margins of 36.0% (sector avg: 55.1%), net margins of -17.6% (sector avg: 10.4%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
BZFD registers a value score of just 28/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 0.39x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
BuzzFeed, Inc.'s investment score of 35/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of -1.3% vs. a sector average of 4.0% and a return on assets of -13.4% (sector: 3.5%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
BuzzFeed, Inc. is experiencing notably weak momentum with a score of just 5/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at -1.3% year-over-year, while a beta of 1.63 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
BuzzFeed, Inc. registers a low stability score of 20/100, indicating high volatility and potentially stressed financial conditions. Key stability metrics include a beta of 1.63 and a debt-to-equity ratio of 176.00x (sector avg: 1.0x). Stocks at this level carry elevated capital loss risk and may be unsuitable for conservative portfolios without careful risk management.
BuzzFeed, Inc.'s short interest score of 17/100 reveals significant bearish positioning, suggesting institutional investors are actively betting against the stock. Specific risk factors include high market sensitivity (beta: 1.63), elevated leverage (D/E: 176.00x), micro-cap liquidity risk. At $63M (micro-cap), BZFD carries meaningful risk and is best suited for investors with high risk tolerance who have thoroughly evaluated the bear thesis.
BuzzFeed, Inc. is a micro-cap company in the Transportation, Communications, Electric, Gas, And Sanitary Services sector, ranked #0 of 50 in its sector (100th percentile) and #4681 of 7,333 overall (36th percentile). Key comparisons include ROE of -37.0% trailing the 11.9% sector median and operating margins of -13.2% below the 17.6% sector average. This top-quartile standing reflects exceptional competitive strength relative to Transportation, Communications, Electric, Gas, And Sanitary Services peers.
While BZFD currently exhibits a AVOID profile, superior opportunities exist within the TRANSPORTATION, COMMUNICATIONS, ELECTRIC, GAS, AND SANITARY SERVICES sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Transportation, Communications, Electric, Gas, And Sanitary Services Alpha →Quant Factor Profile
Upgrade catalyst
Improvement in Momentum (5) would have the largest impact on the composite score.
ROE 410% BELOW SECTOR MEDIAN
Gross Margin 35% BELOW SECTOR MEDIAN
Op. Margin 175% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate BuzzFeed, Inc. (BZFD) as Avoid with a composite score of 27.2/100 at a current price of $0.78. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in quality (38th percentile) and investment (35th percentile), which together account for the majority of the composite score. Offsetting weakness in momentum (5th percentile) and stability (20th percentile) tempers our overall conviction. We assign a No Moat rating (19/100), Very High uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; balance sheet deleveraging progress; the path to profitability. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
BuzzFeed, Inc. holds a top-quartile position (#0 of 50) within the Transportation, Communications, Electric, Gas, And Sanitary Services sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 27.2/100 places it at rank #4681 in our full 7,333-stock universe. At $63M in market capitalization, BuzzFeed, Inc. is a small-cap player in the Transportation, Communications, Electric, Gas, And Sanitary Services space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue contraction of -1% combined with momentum at the 5th percentile paints a cautious picture of the near-term business outlook. The market appears to be pricing in continued challenges, and a catalyst for reversal is not clearly visible from current data.
The margin cascade tells an important story: gross margins of 36% (-19.1pp vs sector) narrow to operating margins of -13% (-30.8pp vs sector) and net margins of -17.6%, yielding a gross-to-net conversion rate of -49%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $0.78, BuzzFeed, Inc. is trading at a premium to fundamental value. Our value factor score of 28/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 0.4x, P/S of 0.2x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
The stock may offer contrarian value if near-term headwinds prove transitory — the current weakness in factor scores may reverse if business fundamentals stabilize.
The Avoid rating (composite 27.2/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Elevated leverage (176% D/E) amplifies downside risk and limits management's financial flexibility in adverse scenarios.
Revenue decline of -1% signals business deterioration — declining revenues make it difficult to grow into the current valuation and often precede further negative revisions.
Thin net margins of -17.6% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
We assign a Very High uncertainty rating to BuzzFeed, Inc.. The stock exhibits multiple compounding risk factors: elevated market sensitivity (beta of 1.63), significant leverage (176% debt-to-equity), current negative profitability (net margin -17.6%). The extreme uncertainty around future cash flows makes precise valuation difficult, and the range of outcomes is exceptionally wide. Only investors with high risk tolerance and extended time horizons should consider this name.
Specific risk factors that inform our assessment include: elevated market sensitivity (beta of 1.63); significant leverage (176% debt-to-equity); current negative profitability (net margin -17.6%); below-average price stability (20th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 20th percentile and quality factor at the 38th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our very high uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate BuzzFeed, Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-37.0%), elevated leverage (176% D/E), negative profitability, weak asset returns (ROA -13.4%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — BuzzFeed, Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, BuzzFeed, Inc. receives a Avoid rating with a composite score of 27.2/100 (rank #4681 of 7,333). Our quantitative framework assigns a No Moat (19/100, trend: stable), Very High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 25/100.
Our analysis does not support a constructive view on BuzzFeed, Inc. at this time. The combination of limited competitive advantages, very high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign BuzzFeed, Inc. a meaningful economic moat, scoring 19/100 on our composite assessment. The ROIC-WACC spread of -34.4% is the primary signal of economic value creation. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, reinvestment efficiency, reached only 8/20.
The strongest moat sources are reinvestment efficiency (8/20) and margin superiority (4/20). Capital turnover 2.87x, R&D intensity 6.5%. GM 36% vs sector 55%, OM -13% vs sector 18%. These pillars form the core of BuzzFeed, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include financial resilience (0.8/20) and economic value creation (2.5/20). Interest coverage -4.2x. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect BuzzFeed, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 36% providing a solid profitability foundation, declining revenues (-1%) that pressure the earnings outlook. The margin cascade from 36% gross to -13% operating to -17.6% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality raises some durability concerns, with the quality factor at the 38th percentile.
The margin profile shows gross margins of 36%, operating margins of -13%, net margins of -17.6%. Return metrics include ROE of -37.0% and ROA of -13.4%. Relative to the Transportation, Communications, Electric, Gas, And Sanitary Services sector, gross margins are 19.1 percentage points below the sector median of 55%, and ROE of -37.0% compares to a sector median of 11.9%.
The balance sheet reflects high leverage with D/E of 176%, which may limit financial flexibility, revenue growth of -1%. The sector median D/E is 1%, putting BuzzFeed, Inc. at higher leverage than the typical peer. Elevated leverage in combination with the current margin profile warrants close monitoring for any deterioration in debt-servicing capacity.
Weak momentum (5th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
Above 50MA
37.18%
Net New Highs
+51081
Shares of Stoke Therapeutics, Inc. (NASDAQ: STOK) rose sharply in today’s pre-market trading after the company announced Phase 1/2a data supporting the potential for STK-001 in Dravet syndrome. Stoke Therapeutics shares jumped 69.7% to $11.03 in pre-market trading Here are some other stocks moving in pre-market trading. Gainers Check-Cap Ltd. (NASDAQ: CHEK) shares gained 38.3% to $2.67 in pre-market trading. Nobul AI Corp entered into business combination agreement with Check-Cap. C3is Inc. (NASDAQ: CISS) rose 35.2% to $0.0476 in pre-market trading. C3is is expected to release its fourth quarter financial results before the opening bell on March 26, 2024. OpGen, Inc. (NASDAQ: OPGN) gained 30.4% to $0.6196 in pre-market trading after the company announced David Lazar will invest $3 million in preferred stock and take over as CEO. Mesoblast Limited (NASDAQ: MESO) gained 23.2% to $2.71 in pre-market trading. Mesoblast was notified by the U.S. FDA that available clinical data from Phase 3 trial appear sufficient to support BLA submission for Remestemcel-L in children with steroid-refractory ...
With U.S. stock futures trading higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows: Wall Street expects TD SYNNEX Corporation (NYSE: SNX) to report quarterly earnings at $2.84 per share on revenue of $14.36 billion before the opening bell, according to data from Benzinga Pro. TD SYNNEX shares gained 2.3% to $107.85 in after-hours trading. BuzzFeed, Inc (NASDAQ: BZFD) posted downbeat results ...
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the "Greed" zone on Friday. The Dow Jones index settled lower on Friday but recorded its best week of the year. All three major indices notched gains last week, with the S&P 500 gaining about 2.3%, and the Dow adding approximately 2% to record its best week since December. Shares of Lululemon Athletica Inc. (NASDAQ: LULU) fell around 16% during Friday’s session after releasing fourth-quarter results. Nike Inc (NYSE: NKE) shares fell around 7% on Friday after the company reported results for its third quarter. FedEx Corporation (NYSE:
Shares of Etsy, Inc. (NASDAQ: ETSY) fell sharply during Thursday’s session after the company reported mixed fourth-quarter financial results. Etsy reported quarterly earnings of 62 cents per share which missed the analyst consensus estimate of 78 cents. The company reported quarterly sales of $842.3 million, beating the analyst consensus estimate of $827.81 million. Etsy shares dipped 7.5% to $71.34 on Thursday. Here are some other stocks moving in today's mid-day session. Gainers La Rosa Holdings Corp. (NASDAQ: LRHC) shares jumped 160.7% to $3.6499 after the company said it has acquired a 100% interest in the Company's franchisee - La Rosa Realty Winter Garden LLC located in Winter Garden, Florida. BuzzFeed, Inc. (NASDAQ: BZFD) jumped 91.4% to $0.4150 after the company revealed the sale of Complex Networks to NTWRK, a live-streaming video commerce platform. The deal, valued at $108.6 million, will also result in a 16% reduction in BuzzFeed’s workforce. Monopar Therapeutics Inc. (NASDAQ: MNPR) rose 80.7% to $1.03 after the company disclosed promising preclinical data for its MNPR-101 radiopharma program targeting advanced cancers. Root, Inc. (NASDAQ: ROOT) shares gained 40.8% to $12.21 after posting better-than-expected fourth-quarter results. Novavax, Inc. (NASDAQ: NVAX) jumped 34.7% to $5.36. Novavax has reached a settlement related to the 2021 advance purchase agreement for Novavax's prototype Covid-19 vaccine (NVX-COV2373). EZFill Holdings Inc. (NASDAQ: EZFL) rose 34.3% to $1.86. EzFill announced preliminary 2023 revenues of $23 million, up 54% year over year. Mercurity Fintech Holding Inc. (NASDAQ: MFH) jumped 30% to $2.93. Mativ Holdings, Inc. (NYSE: MATV) gained 27.6% to $15.00 following upbeat earnings. Venus Concept Inc. (NASDAQ: VERO) shares climbed 26.9% to $1.6242 after the company received CE Mark from DEKRA Certification B.V. to market Venus Versa Pro in Europe. Outset Medical, Inc. (NASDAQ: OM) gained 26% to $4.0680 following upbeat results. Ocular Therapeutix, Inc. (NASDAQ: OCUL) rose 22.2% to $9.19 after announcing a $325.0 million private ...
Shares of NVIDIA Corporation (NASDAQ: NVDA) rose sharply in today’s pre-market trading after the company reported better-than-expected fourth-quarter financial results and issued strong revenue guidance for the first quarter. The company reported revenue of $22.10 billion, beating a Street estimate of $20.62 billion. Revenue in the fourth quarter was up 265% year-over-year. Nvidia reported fourth-quarter non-GAAP earnings per share of $5.16, which came in ahead of a Street consensus estimate of $4.64 according to data from Benzinga Pro. NVIDIA shares surged 14.3% to $771.50 in pre-market trading Here are some other stocks moving in pre-market trading. Gainers Agile Therapeutics, Inc. (NASDAQ: AGRX) gained 140.4% to $2.38 in pre-market trading. Agile Therapeutics was granted extension by Nasdaq Hearings Panel to regain compliance until March 25, 2024. The company sees FY23 revenue of $20 million to $21 million. BuzzFeed, Inc. (NASDAQ: BZFD) shares surged 89.6% to $0.4145 in pre-market trading after the company revealed the sale of Complex Networks to NTWRK, a live-streaming video commerce platform. The deal, valued at $108.6 million, will also result in a 16% reduction in BuzzFeed’s workforce. Elevai ...