Nilay Patel

And AI makes everyone feel like they can have taste, right?

You can prompt Gemini.

And you can just get a nano banana image of whatever.

And you're like, now I'm creative too.

And the audience can participate in that with your brands and your IP as well.

And there's something there that has a lot of people very skittish.

You can see it actually in games.

You mentioned gamers don't want AI anywhere near their games.

Like even the audience in some categories really doesn't want this to happen.

How are you managing that inside a company like Hasbro?

How are you keeping your designers and your creatives protected or empowered instead of fearful?

We have to pause here for a quick break.

Welcome back.

I'm talking with Hasbro CEO, Chris Cox, about how all the IP licensing Hasbro does turns into actual toys and products.

But I actually want to take one step back and ask the decoder questions to set some of that up.

From the outside, just in talking about Hasbro as we have been, it seems like the IP is at the center.

Whether it's you're going to go get the license from Netflix for K-pop Demon Hunters or you have your own like Magic and Monopoly.

There's other stuff.

It feels like the IP licensing, having that is really at the center of the company and then –

You've obviously restructured.