Azeem Azhar

Bill is a long-term friend of mine.

And I think a couple of my readers of Evie are actually part of the founding team of ProRata.

And it's a really, really interesting model.

The question is whether they can sit in the choke point of the traffic, right?

Because right now, the bulk of the traffic

is coming through TatGPT, and then some that's going through Gemini, and some that's going through DeepSeek, right?

So if you're only seeing, you know, fractions, basis points of the traffic flow, it's quite difficult to make a difference in the market.

But perhaps they construct a model that becomes an appealing licensing model for the big companies.

But Bill Gross has been there before because, of course, it was Bill who came up with cost-per-click advertising with goto.com.

before Google had it.

And, you know, GoTo was acquired, I think, by Yahoo.

And then Google copied the model and it built that ecosystem that has powered the web for the last 25 years.

So maybe the sequel, a little bit like Empire Strikes Back, will be, you know, at least as good as the original.

A quick note.

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Okay.

So I want us to get onto the Substack question.

I've been on Substack.

for eight or nine years now, I forget.

We started before they existed.