Jason Hall

We were all kids.

Tyler didn't exist back then.

The idea of Tyler may have existed.

But we kind of saw this happen when Japanese cars hit U.S.

markets.

They were panned as small, cheap, unreliable.

But it turns out they were exactly the sort of disruption that Western automakers needed to get their act together, because they were making big...

unreliable garbage cars.

The result was, consumers absolutely won.

We've seen Korean automakers over the past 15 years, 20 years, really, do some of the same thing and disrupt.

Cars are far more reliable, they're more fuel-efficient, they're safer, just plain better than ever.

I think that really started with Japan entering Western markets with cars.

I think China is going to do the same thing with the EV market.

Frankly, Western countries have been extremely protectionist of their domestic auto markets.

while at the same time trying to have their cake and eat it too, while trying to take share in the explosive growth of the Chinese market.

Now, there is a legitimate argument that modern cars, with all the connected technology, could present a security risk.

That's one of the things that's been used as the reason for a lot of these trade walls that have been put in place.

But look, that's largely just been cover.

to lock Chinese automakers out of the West and to prop up domestic automakers.

I firmly believe that what Lou said is right.