Jennifer Huddleston

And we've seen this happen in other cases when it comes to questions around large US tech companies and their potential acquisitions.

For example, we certainly saw a large debate around the Microsoft Activision acquisition in Europe as well.

And ultimately, that was able to go through.

We've also seen European regulators trying to put up various structural roadblocks that would allow some of America's leading tech companies to

to continue to innovate, to continue to go into new markets.

So I think it's certainly a worthy question of not only how might such transactions play out when it comes to U.S.

regulators, but if this is something that's a global international debate, are there other regulators where there might be other conversations that get had along the way?

I think one of the big questions is going to be around that market definition.

Is the market, the definition include markets for content creation?

And if so, what does that mean?

In this day and age where we have such significant amounts of user-generated content, is it only about studio-created content?

Or is it also about looking at content more holistically, the way short-form video or even long-form video on platforms works?

like YouTube, have arisen to allow creatives new outlets.

So we'll certainly see that be part of the conversation as well, possibly, if that gets included in the market definition.

Obviously, they've introduced some Apple AI, but I think we're going to see just leaps and bounds going forward, and that's what investors are looking at, that true conversational assistant.

I mean, Apple is near record highs.

Its price-to-earnings ratio is near 15-year highs, I think, for the stock, or at least the highest since 2020.

Very few companies who go viral are like totally prepared for what that means.

Courts are not really supposed to play a big role in choosing our elected leaders.

It's for the voters to decide.