Well, I think we are struggling to find one, to be candid about it. One reason for that—and this, of course, extends far beyond just the creative sector discussion and applies more broadly—is we know that capital and individuals are mobile. In the current environment, if we take a look at where the trends are headed—you talked about looking ahead—I think we do run real risks. If we establish regulatory frameworks that send the signal that we'd like to see AI here but only on our terms, we're going to find that many say, “Well, do you know what? We're going to shift elsewhere."
I think we've seen it quite profoundly, even with respect to the EU's approach, which, in a fairly short period of time, has gone from what some perceived to be the model for AI regulation to one in which many who believe that they want to be competitors in the AI space are increasingly wary of, because I think they have real fears that, ultimately, this will essentially extricate themselves from some of those opportunities.