The document discusses phishing simulation exercises and outlines some key points: 1) Email is the number one threat vector, with over 225 billion emails sent per day and 90% of threats starting by email. 99% of hackers rely on users running malicious code. 2) Phishing simulations measure an organization's susceptibility to these email-based threats, with average click rates of 15% in healthcare, 14% in the public sector, and 11% overall. 3) Educating users is important, as people are the targets of these threats and must be made aware of criminal tactics, techniques, and procedures used in attacks.