Theo Jaffee

A little later than that.

And this makes sense, right?

If you were to imagine, very naively again, not to glide over all the differences between present day China and, say, the USSR during the Cold War.

It's like, if you imagine just like... The words USSR clinical trials, that's like a bureaucratic nightmare.

You've got to imagine that's taking 25 years...

It's just like never happening.

So it kind of makes sense.

This is naively what you would expect of a kind of process-driven, centralized bureaucracy with a big civil service that's kind of driving this pretty slowly, right?

So this is naively what you would expect, but that's pre-2016.

And so I assume the next slide is... 2016.

Yes.

Not anymore.

So...

It's very, like, Ezra Klein-pilled.

It's, like, very abundance-pilled.

It's, like, they've been closely following Ezra Klein, and in 2016 they were, like...

Oh, let's do like a very kind of moderate liberal abundance reform about how can we do this sensibly?

Right, right, right.

So I should pause there.

And so if you're joining us right now, MTS Live, we're here with Krem.