The document discusses three challenges facing learning and development (L&D) functions: 1) adapting to the current economic climate, 2) meeting the needs of new users and work styles, and 3) demonstrating their value and effectiveness rather than relying on outdated models. It provides examples of how L&D is often stuck in the past and outlines opportunities for L&D to change their model by delivering appropriate learning that meets needs, showing their value through evaluation, and becoming integral partners for their organizations' future success. The key message is that L&D must innovate and collaborate rather than remain complacent in order to remain relevant and avoid potential cuts.