Um, Bill, is there anything you want to add here?

Uh, yeah, just add two things.

Uh, to give some context, most people probably have not heard of Z.AI, but, uh, as we wrote in a recent report, um, China has at least five or six, at least five or six major models that are being developed by different organizations.

Z.AI was one of them, but there's others, one called Moonshot, people have heard about.

Uh, and then there's Alibaba and, of course, DeepSeek and, uh, ByteDance, which, uh, uh, runs the, uh, TikTok app in, in China, uh, called...

Uh, they have a, a model called Duobao.

Uh, all of these are very sophisticated, and it seems like, uh, almost every week, uh, one of them is claiming, you know, a- another frontier, um, milestone.

Where do we go from here? If regulation is too difficult, then do models need to be self-regulated? And what are the problems with self-regulation?