Azeem Azhar

He's done pretty well out of all of that.

I think the thing that matters for a market like that to work, though, is that the seller and the buyer need to make offers and they have to come and agree.

So that mechanism needs to exist for content creators to say, listen, I'm willing to sell this for a dollar or a cent.

And they have to probably do that in real time.

Now, we do have some infrastructure to do that.

I think, you know, real time bidding across

ad exchanges.

It's something that's running at trillions of transactions every minute.

We've seen these things in the financial markets as well, but it would be a whole new set of skills and capabilities for content companies, especially smaller ones.

You can imagine the New York Times hiring some economists and being able to do this, but you've talked about

the local newspaper in Park City, Utah, and presumably, you know, Bean Blossom, Indiana and everywhere else has got these businesses.

What does that layer actually look like?

What you're describing is a fundamental, almost a financial market for this information between the providers and the AI companies.

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I know that there's a lot we don't know, and we're going to discover this over the coming years.

But I think it's fun to explore where it might end up.

Of course, these aren't commodities.

When I'm buying a barrel of oil or you're buying a barrel of oil,

we already know what we're going to get and we know what it might be worth for us downstream.

The trouble with an information product is I don't know.