Thanks, Marc.
I'd like to end with some thoughts on Internet regulation.
Facebook welcomes more regulation.
We support strong privacy laws that provide citizens with clear protections and hold companies like ours accountable when they make mistakes. We agree that multilateral tax agreements should be updated through the Organisation for Economic Co-operation and Development, or OECD, process in which Canada participates.
We agree that regulations could set baseline standards for what kind of content is prohibited online and require social media companies to build systems to enforce these standards. The status quo of having private companies decide what is and isn't acceptable speech online is not sustainable longer term and lacks transparency and accountability.
Finally, we agree that more needs to be done to support the future of journalism. That said, we do think it's important to clarify that people and publishers choose to share news links on our platform, not Facebook. Requiring Facebook to pay for this, as proposed in Australia, doesn't recognize this fact.
We look forward to working collaboratively across sectors to develop fact-based frameworks to ensure a thriving Canadian news ecosystem.
With that, Mr. Chair—and apologies for the technical troubles—we are happy to answer any questions from the committee.