Do you think DSPs like The Trade Desk will be able to squeeze more dollars from ad agencies, and will these ad agencies still give their inventory to DSPs?

No, I think there's a lot of competition. The biggest competitor to The Trade Desk is Amazon. Amazon doesn't care. If you move your money from The Trade Desk to Amazon, they will offer you a preferential CPM or rate on their technology. Amazon stands to make more money if you're running on Amazon's inventory in addition to off-platform, non-Amazon inventory. They can afford this margin because they're also a publisher, whereas The Trade Desk is not. The Trade Desk has said for a long time that they're not arbitraging inventory, but they are starting to create business terms with publishers where they get a discount on inventory, which is not transparent. I think there's a lot of risk in The Trade Desk's business from that perspective.