John Skipper

But gee, we don't have the share YouTube has, for instance.

We want more share.

We're going to buy more share.

We think this is a scale business.

And gee, there's a range, clearly.

If Paramount offers $200 billion, they will get it.

But the question I was making is between $83 billion and $86 billion, which is not really, for a company the market size of Netflix, it's not particularly meaningful.

Well, that's what contractors do.

But it really comes down, David, it's not as much of a philosophical difference as a belief in the credibility of that analysis, right?

You know what's happening at Netflix.

They're going, oh, we ran all the numbers.

It's data in, data out.

And somebody's going, you know what?

I bet you that synergy income that we put in that we're going to get from having a larger share or we're going to be able to have relationships with writers and directors, that's probably worth, we had that in at 17%.

Let's take that up to 18.5%.

That's all they do.

Agreed.

And I'm not suggesting we did it every time.

We always ran, okay, here's what we got.

What happens if the ratings go up 5%?