And I'm curious if you can kind of contextualize that and maybe give us a question to sort of poke at in this area.

Yeah.

Well, I mean, maybe one question here or just thought is, so in the context of KYC or KYB, you have an entity that you're trying to obviously identify, make sure that you know who it is.

But then once you've done that, that's sort of that, right? There's more to it.

We're not going to go into detail.

But in this context, we're talking about almost a separate entity.

And I I hate this framing in some ways because I don't like the anthropomorphization of all this.

To me, that's one of the core things we're going to struggle with from a product design perspective, certainly, and probably also from a legal liability perspective on the subject of AI agents because, and I'm already seeing this, right? instinct is funny because it'll do exactly what I ask it to do or at least try to but it will also like kind of just go into my data sometimes and be like hey I noticed something I'd like to help you with this and there's like a short step from that because I didn't authorize it to do that it's a short step from that to like hey given how well I know you I thought I would just do this but there's still time to cancel it if you want me to cancel it like there's this kind of like sliding slope of convenience that I see coming from a product design perspective and that would seem to put a lot of pressure on this question of, did I actually authorize you to do this? And then of course, we're going to get to this, but like, how does that authorization protect me or not when a mistake is made?

This is just, you know, your own personal agent that's being set out to do it.

Well, I guess it depends, right? I mean, like, I guess on the maybe not so rhetorical question, I guess the straightforward answer on 1033 is the statutory text of 1033 refers to consumers and then defines consumers to mean a consumer's agent, trustee, or representative.

And so, actually, 1033 and Dodd-Frank pretty explicitly does create an ability for agents to act on behalf of the consumer, but not only legal agents, very importantly, also representatives, which, to your exact point, is where we came up with this idea of the 1033 rule and this sort of framework around an authorized third party.

Or I think in the new advance notice of proposed rulemaking that came out, I think it was called an authorized representative.

And really what this is, is this is some sort of framework, which is like, OK, maybe it's not a full fiduciary in every use case.

Maybe for some use cases, that's just like way too much, like way too heavy handed from a regulatory perspective to have full fiduciary duty apply to.

I don't know.

models.

Yeah

...

so as an example, uh, one framework that I think is incredibly interesting now, it was, uh, I'll, I'll just be totally honest, and this was probably my own ignorance.

I was a little less interested in in the beginning, was the UK's, is the UK's variable recurring payment scheme.

And so this is basically a way of saying that within certain defined parameters, which might include sort of the amount of a payment that's allowable, uh, the frequency with which one can make a payment, uh, the duration with which one can make these recurring payments, that some, someone or something designated on your behalf can make these payments of varying amounts, right? Now, when it's the same amount, we have a word for this, right? It's called a subscription, right? And so this is not particularly, uh, innovative in that context.

But in the context of a AI agent that is now exercising more discretion, so one example might be, uh, reordering, right? So for example, if you're using a certain input to your business, if you're using something in your home, uh, on a recurring basis, but maybe it's seasonal, you might actually wanna, wanna set something up where you're able to order that and reorder it, but not the same amount every month.

You're not subscribing to something because you don't want the full box of pears at your doorstep every month.

Yeah