So if the reality you envision happens, what are the consequences for The Trade Desk?

That's a very good question. The consequences for The Trade Desk are that they will find it quite tough to scale because there's consolidation, which means the inventory is combined into one place. It will be very hard for them to spend bigger budgets, especially with audience targeting coming on board, such as keyword and contextual targeting. CTV is trying to figure out their whole targeting piece right now. That is why The Trade Desk built Ventura. Ventura is an OS that can be plugged into OEMs, such as VIDAA, Samsung TV Plus, Vizio, etc. They are thinking ahead about their position in this space and want to have a share of that pie as a technological partner and a demand-side platform.