Drew Baglino

It is high in the repayment line.

They would have to see really significant impairment to experience any losses or significant losses.

So this is one of the arguments that the private credit industry is coming out with at the moment in defense of software.

saying, you know, our software loan books look good.

In fact, Blue Owl Capital said it wasn't seeing, let alone red flags, it wasn't even seeing yellow flags in its software loan portfolio.

And we've heard the same sort of sentiment from a number of them.

And also saying that it's a bit too early to see any degradation in software right now.

Well, this is, as you alluded to earlier, big tech's big tobacco moment.

It's the moment that tech accountability organizations like mine, as well as countless parents who have been touched in some way by the harms that social media addiction have caused,

where we are going to see Mark Zuckerberg raise his right hand, take an oath before a judge and a jury of his peers, and for the first time explain to a court of law why his company knowingly developed products that targeted children to get them hooked, and then continue to feed them algorithmic content that did irretrievable harm.

And what's different, because he's also told that to Congress, but he's going to have to explain why, despite telling us, the public,

as well as members of Congress that their products were safe for kids, why he systematically buried internal research and data showing there is a connection and showing they did know that their products were addictive and showing they did know that their products were harmful.

So for many parents, this is the first step to hold big tech executives like Mark Zuckerberg accountable.

Well, the evidence has already shown that there have been many internal surveys, again, conducted by Meta, and in some cases partnering with external companies, survey firms such as Nielsen,

to uncover whether there was a connection between social media overuse, social media addiction, or as the Instagram executives euphemistically refer to as problematic use and harmful behavior.

And there was.

After about a week of not using social media, users reported that they felt better about themselves.

They didn't have this compulsive need to pick up their phone.

Their mental health improved.

Instead of alerting the public to this potential health threat, they buried the research and never let it see the light of day, which is why Mark Zuckerberg can testify before Congress, claiming that the research is inconclusive.