 Europe has always had a stricter set of privacy rules in the US, but what some hired institutions may not appreciate is that this new GDPR really extends the extraterritorial reach of that European legislation. So even if you're not an institution with major programs in Europe, if you accept European students, if you market to European students, if your website engages Europeans in any way, you're subject to this new legislation. And it requires great detail and specificity. You need to explain exactly how you're using data, who you give it to, you've got to provide access rights, somebody wants to access what you've got about them, delete it. If you fail to comply, the penalties can be as high as 4% of your global revenue. Now, unlikely that a meaning well-hired institution is going to be asked for 4% of its global revenue, but the penalties are on the books and the regulators there are promising that they're going to use their new authority and so organizations around the world are really investing in the work they need to do to make sure they're ready for this law. Almost every country, every Western democracy around the world now has a general privacy law. Privacy is increasingly recognized as a basic human right. In the US we've had a sector-specific set of rules. Student data is protected in one way, financial data another way, health data, credit. But most other data isn't protected at all. What we are seeing is states passing laws, cities putting rules into effect, school boards putting K-12 rules into effect, so it's gotten so complex. And I think reasonable people recognize that. Look, there's a role for marketing in the world, products and services are cheaper when there's good competition, but there need to be boundaries. You don't want to be intruded on. Maybe I know that when I browse the web, their ads target to me based on tracking, I have a smart speaker in my home and I have a TV and I have an echo. Where and how does data about that get used? I have a Fitbit. Where does data about my exercise or other intimate things you can learn about me? We've organized some of the direct-to-consumer genetics companies. They've got your DNA. What's more, it's the code that can describe almost everything about your life. Those aren't covered by the health privacy law because it's not data collected in a medical and insurance example. Clearly, we want commitments that that data is not going to be misused.