Glenn Fogel

So, for example, I have engineers here in Amsterdam who are doing tremendous great work.

But if they can't get the cutting-edge technology, the stuff that's right out front, because the people who create this, the giant hyperscalers, don't want to bring it to Europe right now because they're concerned about the rules in Europe.

so they're not giving it over to our engineers to be able to do things and play with it and learn, well, that puts us at a big disadvantage to a giant player in the U.S., like Expedia is one of our big competitors, or Airbnb is one of our big competitors, or the Chinese company, Trip.com, their big competitor.

They all can get that stuff.

Our engineers may not be able to get it because there's no rule per se, but the issue is that people who create these new technologies are...

are concerned about being in sort of a liability issue.

Well, I think every single AI creator always has to be thinking in the back of their head, should I bring this to Europe right now or not?

Is this allowed or not?

Look, we all saw that.

When OpenAI first brought out ChatGPT, you must remember when Italy said, oh, we don't want that right now.

Do you remember that?

Well, that continues on and on and on.

Where the concern is, as these new technologies are developed, the people creating it look at the EU and they look at the European regulation and they are concerned.

So this is a very complex problem here.

We all agree we want to have safe technology.

Nobody disagrees with that.

And then you come up on the other hand, we don't want to end up far behind other countries and we don't want to end up not having great technology.

innovation that helps society too.

So it's a balancing issue.

The problem is the world is not one set of rules.