 Susan Liotto, you are from the Atlanta School of Economics, vice chair, I think there. You've been talking about ethics and the digital era. What is the ethical problem? The ethical problem, well, we've had ethics for centuries. The particular ethical problem with the digital era is that our understanding of reality is quite far behind that reality. So ethics has a bigger challenge and a bigger role to play. In addition, the digital era makes all of the risk around ethics, what I call in my work the contagion of ethics, ever more important. So for example, social media will be a trigger, bullying on social media is leading to global epidemics of teen suicides. We have various, we've seen the horrors of social media recently with terrorist recruiting on social media. So all of the things that were not necessarily ethical in the past have been magnified exponentially. So it's a kind of a moral and social challenge which should or could be solved through regulation or not? In my view, it can't be solved by regulation. Now regulation is always lagged a little bit behind reality, that's normal. But in this particular case, the gap between how quickly technology is developing and how complex the relationship is between technology and global risks. On the one hand, and then the speed with which regulation can keep up, the gap is widening. And in addition to that, it's very hard to understand now all of that reality. So figuring out how to legislate so that we're effective with legislation, so that we can enforce legislation, and above all, so that we can have legislation function in a dissolving boundaries world is very challenging. Is there a role for self-regulation? There's a role for self-regulation. But you trust it. And there's a role for taking increasing responsibility for what I call ethical decision making. So I'm very careful to distinguish between the law or compliance and ethics which in my view flies higher than the law. So I definitely think there needs to be far greater assumption of responsibility for ethical decision making, but also as you say, self-regulation. And that can happen within industries. It could happen, for example, even across social media companies. But it can happen in other ways as well. Is the WPC a good forum for discussing these things? I mean, is it helpful? I think the WPC is ideal. And the reason, and the beginning of my talk, I mentioned Terry's words from his speech this time, where he basically launched a call to arms about ethics. He basically says it has to underpin all of our thinking in global governance. And I believe that the linchpin of global governance is ethical decision making. So this is the ideal forum. This is Leo Thu. Thank you very much indeed. Thank you.