… When you talk about the big businesses collapsing, my thesis is that their distribution collapsed. It all ended up on distribution platforms that basically don’t pay you money. Netflix is the last great distribution platform that pays high rates for content. …
… That has been an internal debate for a long time. Before all these companies went to create their own distribution to build their own Disney Plus, they were very happy to be Netflix suppliers. …
… Printers, like so much else of the digital world, would now essentially require permission to work. …
… You mean distribution of product out in the channel? …
… Now, generative AI is pushing the “what is a photo” debate to its absolute limits. …
… Is it just bigger distribution? …
… And I think that’s going to become a big debate. It was even part of the Pope’s encyclical recently. I think it’s going to become a very, very big part of the debate soon. …
… The thing about digital services is that they can be moved. …
… But the unchecked growth of IP law over the last 40 years, particularly the laws that protect digital rights management, which we were talking about before, these anti-circumvention laws in America, it’s Section 1201 of the Digital Millennium Copyright Act. …
… We’ve got distribution; we’ve got about 70,000 game developers using our SDK. We’ve got 150 million gamers on our software platform. We’ve got distribution, I think, across to that. Can the models go out there and try to build the distribution? …