 It's a little hard to know exactly what the impact of these rules will be, but what do you see as some potential outcomes and things we need to be watching in the space? So I want to start from the top and say that the European countries, the EU, they absolutely have an interest in regulating, right? This is something that they ought to be doing. But have you ever stopped to wonder why the U.S. has 5% of the world's population but functionally all of the world's largest tech companies?