Glenn Fogel

Well, thanks for having me, Stephen.

It is an interesting time indeed.

And you're right.

We are an incredible user of technology.

And we also are, of course, regulated by all the new AI rules that are coming into place.

And that can be very complex, particularly because we are a very global company.

Booking.com is one of the largest travel companies in the world.

And as such, we have to deal with business around the world.

And different regulatory environments create different problems.

And one of our problems right now is with EU rules that are more stringent and more complicated and require a tremendous amount of money investment for us versus some of our competitors around the world that are not subjected to the same rules.

they get a competitive advantage.

And that's very disadvantageous to us here in Europe trying to build a very competitive business.

Well, I think there's a lot of things going on right now.

First of all, the rules are complex, not well understood.

There's contradictions.

There's issues of nobody's sure exactly what does it mean

in terms of our own businesses.

So that right away can be problematic.

But certainly the issue of having our competitors who are about the same size, not subjected to the same rules.

That can be very disadvantageous.