 I think I will be awake for the next hour for sure. My talk won't last for an hour. I think it is an opportunity to be all together and to discuss the topic where there is no, I think, definite answers. So feel free to prepare all your questions. I may not have all answers, but I will do my best. So in a keynote, I could do, oops, doesn't work. OK, I'm technically sure, but yes, it's working. So here is the agenda. First of all, I would like to give a perspective of the subject, which is growing, but also, and it's not at all a critic of what we are doing or what you are doing. We still have a little knowledge, and I will explain why, in the logistics side of e-commerce and urban logistics. So I will develop what we all know, what are the impacts. And I noticed in the previous presentation that there are ongoing research on that and what we don't know, which is also quite important because it implies that we need to do more research. Question raised. I think we could really question what we are doing and where we are heading to. And then I will go to our proposal. What kind of developments we are doing? It's research is also linked to engineering. As Claire mentioned, I have an engineering background. So it's also about design. So let's start with what we see. Here is a small example, a captation from what's going on in China. China is by far the biggest country where e-commerce is... We see the largest activities and maybe you know, but Alibaba is planning a parcel network for one billion parcels a day. And he's not the single operator in China. There is also SF Express, JD and so on. So it is something really huge, but not only huge, it's also a bit, I would say, crazy because we generate huge peaks of demand. And we have to deal with the peaks when we have to design the capacity to deal with the peaks. And peaks are totally artificial. Here it's something that doesn't really ring the bell for European people, which is the 2011. For us, the 2011 is not really a day for shopping. But in China, it is a single day. It is something that was invented. It's pure marketing and it's completely crazy. The number of parcels they are able to ship and they should receive within the next day or the next days. And a significant proportion of the parcels are returned because, you know, in that crazy day, you buy, buy, buy, there's some kind of fever. And then in the next day, you wake up and say, ooh, what I did? And then you ship back. So you may really question what we are doing. And I used to say that as a logistician, we have been asked to do crazy things. And guess what? We are proud to do it. But that's a big question. So us, we have somehow with some kind of schizophrenic behavior because on one side we buy online and we are happy with that and we could save time and things like that. While on the other side, we always complain about the trucks in the streets and some kind of sorting in the middle of the street to deliver the last meters with some deliverable. And it looks like for me, with, again, engineering background, this is not 21st century operations for me. It looks like it's completely improvised. It is not, of course, there are real professionals behind, but for me it looks like it's a transition phase. It's not the ultimate development of what we may see in the future. And in that sense, it's not sustainable as well. So that's what we have. That's what we see. And usually I'm quite surprised that there is no real investigation of the impact. And one way to measure the impact, and here we have, I think, much more competent economists in the room than I am because I'm more with the management expertise. Here, there is a report. It is originated from TU Delft about the external costs of transportation and freight logistics external costs. And when you do the math for Paris, this is Paris. May have recognized, but this is Paris. When you do the math for Paris, it's something that is about 1 billion per year. So if you compare to the GDP, you say it's OK. But if you take it as this number, you say 1 billion per year, maybe we can do something to mitigate the impact. And as it is, it's hard to find solutions. And maybe if the problem is 1 billion, the size of the problem is 1 billion, it's not just with two bicycles that the problem is going to be solved. Maybe the problem is bigger than that and requires more, let's say, industrial solutions. And what is also quite astonishing is, it's not a quiz, but you may guess how many people are in charge from the Meri de Paris in charge of logistics in Paris to deal with the problem. Sorry? 4 people? 10? No, it's actually 2. OK, so when I met there, I said, I'm very honored to meet you. I said, you're kidding us? I'm honored because you are in charge of 1 billion. So I think there is a lack of knowledge about the impacts. Of course, the impacts are congestion, air pollution, pseudo emissions, noise accidents, and so on. OK? So it's quite a big problem, not that big. And it's a problem that is totally inevitable. By that, and you mean that, and we saw that during the COVID-19, the pandemic, the crisis, you can stop a lot of things, logistic accepted. You cannot stop logistics, and especially in cities, you cannot stop logistic. You can always complain, but there is no city without logistics period. So we have to deal with that problem. So what are the trends? Are we heading the right way? If I look at, and if I make the hypothesis that we consume the same amount, let's say the full, it's quite an important delivery in cities. We consume the same amount more or less every day or around the year. I was almost within Paris the same population. We should have more or less the same volumes. But what we did, we invented different distribution channels. And one of the major one now is e-commerce. But the multiplication of channels is also a multiplication of distribution channels. And maybe sometimes with different packaging, different stock keeping units. So as a first response, we had different supply chains, which means that everything equals, we have less quantity per channel. So we have some kind of fragmentation of flows among the channel. And of course, it's going to be harder to manage all the flows. And there is a risk of stock out. There is a risk also of overstock and scrap and so on. The second point is, and it was well presented before. So I think it's the fragmentation in time. It started long ago with just-in-time policy, which came from the industry. So instead of delivering one thing as a big batch, we have multiple deliveries. Of course, it's not that hard to understand that there will be a consequence for the supply chain. There will be a consequence on the transportation. Means there will be a consequence on the infrastructure and so on. And what we see is now we have we came from 24 hours delivery and then three hours delivery. And then now in Paris, we have up to 10 minutes deliveries. So when you think about, you should think about that. And by the way, if you're not in the city, you need to go fast to reach the consumer. And in e-commerce, there is some kind of a game that is played and mostly by marketing, which is the e-commerce are not really present in the city. And for the customer not to be aware of that, you should propose to deliver fast. Because most of the products you're going to find online, you're going to find them also. If you live in Paris, they are nearby. They are just around you. Paris can be seen also as a huge warehouse, a set of warehouses. But to not think so much about that, the e-commerce should promise and deliver fast. Fast because coming from outside most of the time, except for the 10 minutes, of course, you need to be in the city. And we'll see if it's a real market or not to deliver the chips or the bottle of water in 10 minutes because you never thought that you're going to have an aperitif just before dinner and then you totally forgot. One of the main consequences, which is this one, is that the median weight, and it's not just for cities, but I think it's under a known number. And this study, I would like to have an update, but I haven't know the update. It is we started with 160 kilogram in 1988. And the median weight was in 2004, 30 kilograms, which means that the median weight was divided by 4.5 in 16 years. And of course, in 2004, the e-commerce weight in the economy was close to zero, which means, from my point of view, and I think it's a shame that we don't have an update on that survey, is that here, if we still have the same trend, it means that we are going to maybe four or five kilograms. And in the future, we are heading towards maybe one kilogram as a median weight. And it is something that, of course, has strong consequences on the supply chain design. You can imagine the amount of sorting and everything. So for a personal operator, it could be a very nice opportunity because it means more parcels for the same global amount, but it's also more energy, more packaging, and everything, of course. Here, it's a bit technical, but it's almost the same thing. We have here two curves. So it's a cumulative weight here. And here, it's the number of shipments. So what you see here, basically here, you have the letters, the huge number of shipments, but the total weight that is close to zero. And here, you have, let's say, the pipeline with the oil. You have a single delivery, or almost a serial delivery, but with a lot of tons in a single delivery. And of course, in between, you have all the different logistic activities. What is really important here is that if we go to e-commerce, it means that the curve will somehow like a cliff going to slide, which means that we're going to have here much more activity for the same total amount, and which means that we're going to have much more deliveries, and then also impacts that are going with the deliveries. So I'm not sure we are heading in the right direction from a sustainability point of view, from a congestion point of view, and that kind of problem. So if I want to confirmation, here is the trips done by heavy duty vehicles here. Sorry, it's the French, heavy duty vehicles. More or less, it's flat. And here, you have light duty vehicles, vans, and so on. And you see that in the last, let's say, 30 years, there is a net increase of almost 70% of the traffic. So we are shifting from heavy, consolidated shipments to small shipments, and as a direct consequence, we are going to smaller vehicles. And of course, you may wonder which one has the bigger impact on the environment, but also on the society. So I did the math for you, knowing that here, if I take a truck, here I put it in green. Usually the truck, it's in black, and it's awful. But you can have a payload that is up to 25 tons. Of course, if it is filled just with parcels, you will never reach 25 tons because you will saturate with the volume first, and you never reach the ton limit. And here, you have the gram of CO2 per ton of kilometers, so divided by the weight. Of course, when you are able to completely fill the truck, you have that kind of emissions per ton. And if you are not able to fill it, there is an increase of emissions per quantity delivered. And of course, at some point, it is a good idea to switch to a smaller vehicle. And again, it is a better idea to switch to a smaller vehicle. And at some point here, we have a proposal made by a famous web merchant that is you could go to drone. From a sustainability point of view, is it a good idea? It is not that I'm not sure. I'm sure it is not a good idea. There is a very good paper that I reviewed in Nature Communication that said that the footprint of a drone is at least the equivalent of a van, not to mention the footprint, the real footprint with all the drone ports that you need everywhere. So frankly, it is more advertising than anything else. And if we remember when it was announced, it was just before the Black Friday. And I think that everything was said at that time. But it was quite strange for me to see that we saw so many operators surfing on that wave, knowing that nobody, I think, in the room was delivered once, at least once by a drone in maybe eight years from now, because it was announced something like 2013 or something like that. And what is also quite incredible is that here, the total amount of emissions for a full truck load, for an empty truck load, the total emissions is about 70% of the full truck load, which means that the marginal emissions of a shipment that you're going to put on a truck is really interesting from an environmental point of view. And for a van or a car, it's even more interesting. So the problem that we have now is that's what was released by the European Commission. And it is for transportation. So it is also for freight transportation. It is what we achieved so far. And I can tell you that a lot of things were done in the last decades. And this is the next target that we have in CO2, okay? And that's the ultimate one. And of course, you have to remember that in the meantime, the traffic just sold for the light duty vehicles, which means that there is no real need to target minus 60, you can only target zero. So if you miss it a little bit, it's gonna be okay. But if you target minus 60%, you're gonna miss the target by far. So here we have a real challenge and it's not just about switching to electricity. I just mentioned before I was asked to niche to read in the newspaper that there is a new electric car that you can buy. Nice Swedish, not top end, but medium range car. And electric cars say, oh, it's gonna be environmental friendly. The weight is 2.2 tons, okay? So you think about, I'm coming from EcoDemine. So if you think about all the raw materials that you need to process in order to make the car, 2.2 tons, I'm not sure we are going in the right way. So that's what we have. And I want to mention also that when we're talking about freight transportation and logistics, CO2 is just what we see above the surface because you know that there are all the pollinants and even with electric cars, you still have the brakes that gonna emit some particles that are very, not very human friendly. We have also congestions, we all face that noise. It's gonna be reduced by the electricity, accidents, lots of utilization and so on. And of course, what I just saw in the previous, we shared with you in the previous slides is, well to will and we have to think about the perimeter of the emissions, not only in the city say, oh, it's cool, we have electric cars, so the air is cleaner. But we need to produce the energy and right now we know that the energy is also quite a challenge and it's never without consequences. So here we have also another consequence, which is if we are moving to smaller vehicles, here is the forecast, it's not made by me, it's OECD, about the impact on infrastructure. And the impact is coming mostly from freight because as individuals, we won't spend more time in our cars or on a daily basis. So it's mainly coming from freight. And here you have the picture in 2010, you see that Europe is already quite congested, especially in Germany and the Netherlands. But if we go to 2013, not so far from now and 2050, if everything goes along the trend that was forecasted, this is what we have. You see that kind of snowball effect on the infrastructure and so on. So we are really addicted to logistics. And when you have a 1% increase of growth, usually you have more than 1% of growth in logistics activities. So we are really dependent. And in the last two years, we were also quite dependent. And you know that all the load-downs effects and so on, we diminished the CO2 emission by something by 7%, something that we need to do every year, not 7% every year, but 10% on top of seven and so on. So it's really something that is a challenge. So couple of subjects that I want to raise and share with you. The first one is about the density. I saw, I share with you, sorry, I share with you, I saw that also, it came to my office. So I am responsible for this one. No, I was not there for the packaging, but I order it, so I'm responsible. For me, density is something that is never in the official statistics. It's something that we should ask for. We should have the density of shipments because I think that more and more we are shipping air. And we don't have to ship air. By shipping air, I mean, we have a lot of void, not only in the trailers, but also in the parcels. And the increase of density is something that for me is quite important. So it's not in the statistics, so nobody is aware of it. Really, maybe in the room, we are aware of that, but we are not enough to change everything, but we should be more cautious about that subject. If I think that my record is not like the density of helium, but a little bit below that, but close to the density of air. I received a package with just a very small, tiny plastic part inside. Here, I think that there is also a responsibility for coming from the different companies to charge also not only based on the weight, but also on the weight volume ratio. And when there is a huge volume, it should be charged on the volume aspect, okay? So I know that a couple of companies are already playing that game to charge also the volume. And I think it's something that is really needed to change what we are doing and to at least increase the density of our shipment. Something else, I was invited in Merit Paris to talk about urban logistics. And all the morning, we talked about urban logistics. And at the end of the morning, I was like, you know, we talk about something we don't know, because in Paris and the people in charge themselves, they don't know where it's coming from, from which part of the city the freight enters and what is really the traffic and what are the routes? Of course, each company, they know what they do, but the global vision, there is a lack of global vision. When in France, there is a laboratory that is a specialist in the transportation economics and when they do a survey, it's like a picture. They took a picture, it's something like one million for a picture, one million euro for a picture and 18 months to develop the picture, you know, like the old style. So when the picture is available, the picture is obsolete. So I'm not just there to say that we have problems. We try also to find solutions. And with a company that was in the past, sister company of La Post Orange, we are tracking SIM cards all over the network. It seems a good idea and easy to implement. It's a total nightmare from a math point of view, because the only thing you know is the position of the antenna. And sometimes you have a SIM card that is switching between two antennas and the question is, is the SIM card moving or it is just the network that is balancing the load between the two antenna. But now here you see, we are able to find the freight traces due to tracking of almost a real time. And of course, all of that is done fully compliant of RGBD and all regulations that the telecom operator is subject to because you can imagine that it's quite touchy data not to mention military applications that you can imagine behind that and so on. But now we have that vision, but not in Paris. Because in Paris, so up to now it's too complicated. We are not that accurate. Our picture is too fuzzy. So we could have printed what's going on in Paris. It's just a blue patch and that's it. So if you're interested to collaborate and go further with some kind of machine learning with us and so we can go and proceed and illuminate what's going on in Paris, inside Paris, which is I think the next challenge. But by the way, this is a sneak view. It was never published. But it's going to appear, I think, in a pretty good journal when it's going to be finished. And we have all the freight over France and maps and so on and we'll be able to understand what's going on. So another thing, it's something that was discussed also in the previous presentation. Like in logistic, we have some kind of French behavior. Usually when someone is doing something late and is in the rush, it's not something that is a nice behavior. So it's like you're late, you're not smart. But in logistic, we like to go fast and do things in the last minute. And we like the demand is completely unpredictable. But when you study what is sold with the merchants in two hours or one hour, you're a bit astonished about the things. And I'm working with different companies in my share, like Procter & Gamble, this is the early part of my presentation, but they sell toilet paper. Even 10 minutes is going to be long and embarrassing. And you can predict that you're going to need it. You don't have to wait until the last minute. Okay, it's not smart at all. And here you have all the guys with the bicycles and so on, it seems like I take it is not at all. Of course you have apps and so on to organize the demand and the supply of the service. But from a logistician point of view, just one guy doing one thing, it is, I'm coming from the industry. From an industry point of view, it looks like it's not a very good development, right? It's just the beginning. So, and again, it is really I take, I don't think so, it is desirable. It is really sustainable. It is really the way that we want part of our population to live. Like there is one in the coach that's gonna go fat and one that is bicycling all day long with 40 degrees or minus 10 degrees. Is that what we want? I'm not sure. So again, and I'm coming back to industry side. I think that we lose what we should seek, which is the scale effect. Transportation scale effect is really important. We know that a train is way more efficient than a truck, which is way more efficient than a van, which is way more efficient than a car. So maybe in the future, we may have more logistics and it's gonna be more sustainable if we avoid all the trips with the cars. Because here on this little figure, we have the same amount of goods carried by different transportation means. Of course, when we go to the city center, there is no way we can enter with the rail car or the wagon in Paris in front of each door to do the delivery because it doesn't make any sense. But it means that we have to postpone until the last minute, the switch to a lighter transportation means. Guess what's happening now? The trend was to put the logistics as far as we can from the city center. In the ancient time, maybe 40, 50 years ago, the big market in Paris was not the shopping mall, but was the place where all the shop were gathered to distribute in Paris. Now, of course, it is 15 kilometers away and the suppliers are even further away. So if you start with that kind of vehicles, you lose already. If you start 15 kilometers away, we lose the scale effect. Another thing is, at the beginning, we had just one operator with some kind of monopoly. Monopoly is not a good idea. So now we have plenty of operators and it's a nightmare too and we know all that. We can order online four times and be delivered by four different operators and each of them, they will follow each other in the street and we have to coordinate all that and by no way we were able to find a solution. So everything is gathered and during the weekend, I'm gonna go from one relay point to another to collect all the shipments. So synergies, we are still looking for synergies and what is quite interesting is when you discuss with a company leader, he says, most of the, yes, we are looking for scale effect and we are bigger, the bigger we are, the most effective we are, but it stops at the boundary of the company. And you can take as many companies as you want, scale effect, scope effects, good, but just for us. And maybe at some point, the flows are so fragmented that we should consider that we need to do something else. There is another challenge here which is about the competencies that we need. On one side, it is really the industry and I know pretty well some LaPost sorting centers. It is industry, this is heavy industry and at the end, this is service. What we have is service. So we should decouple the two things in a nice way and we should decouple it in the right position, not too early in the supply chain and not too late also because otherwise there will be some kind of robots and there is still I think a lot of here services to be promoted and done for other people, the neighbors and so on because the last meter is not always the best one. We saw in that field and we still see a lot of innovations but not yet the solution. So if I put everything together, this is what we have. Different schemes. So here I imagine that there is a train that is able to do long distance and go to warehouse or distribution center nearby the city. So you have a footprint in CO2 that is quite small. Then here you have a full truck load going to the supermarket and then you take your car to go shopping, which is not such a good idea. And here you could have, of course, you could challenge the numbers and have different views but more or less it gives you the main schemes that we have. Of course, I could have here a bicycle for the last mile or here a bicycle to challenge the last mile. And you see that we have different options but it will be mainly impacted by the organization, not the technology but the organization. How do we organize ourselves? Where do we shop? What kind of vehicles we're going to use and that kind of things. And another interesting consequence is that the emissions are more or less independent of the distance. When I take my car and I buy tennis balls in the suburbs and I come back, I'm just going to double the emissions for the tennis ball from coming from Asia to the shop because I move more than a ton or maybe 2.2 tons if I have an electric vehicle just to come back with a few grams. In that regard, it's way better to order online and it's been delivered, okay. So if I look at the means that we use now and I'm going to go to some kind of solutions here, we did some kind of computation based on survey made on a thousand trucks and we've been able to compute what we call the overall efficiency. If you're familiar with the industry, we use to assess the performance of an equipment with the overall efficiency, which means that we start with an idea that's going to work perfectly over 24 hours and then we compare the actual performance to the on the same time period and I can do the pie chart or the Camembert in French and look at the losses. Idol, nobody. So maybe with automations, this can disappear. Endling, look how much time we spend in waiting time, waiting at gates to be there for the docking and so on. It's incredible. Some kind of rest, of course, empty strips, capacitors, congestion and efficient trip. Of course, we will never divide the number of trucks by 10. If I do the same math for personal vehicle, it's even worse. It's maybe two to three percent of overall efficiency. And but here it means that there is room for improvement, for sure. So maybe we have too many trucks and we are too wealthy to think about how to better use the resources. Of course, you may think that we're gonna put everything electric and it's gonna be okay. This is not my point. Is we're gonna go to interconnection, which brings us to the postal world. In our work, we think that we should better use resources and share resources like car sharing. So working together and I was really interested to discover in the postal history that we are not even noticed that because we are used to that, but in the postal world, everything is interconnected. You put a postcard that we used to do that in a mailbox and it pops up on the other way of the planet Earth. Try to do that with a pallet, it will never work. Okay, it will never work. And if you think about the world that is not organized like that, you think that if you look for a country, you have as many letterbox that you have as operators. It's completely crazy and you should buy the right stem by the way, otherwise it won't work, okay? So for us, for later, it seems perfectly normal to have just a single box or at home for the internet, it seems perfectly normal to have a single internet box. But when it comes to logistics, we have tons of operators, tons of standards and it seems also perfectly normal, which is for me a little bit crazy. So here what do we, it doesn't mean that there is no competition or it's a monopoly, it's another question. Here I'm talking about interconnection of services. So sources of inspiration have flipped out or lunch boxes in India. One system to bring all the food cooked by the woman to the men at work every day. Really efficient, just one small container, the same for everyone at a coding system to tell where it should go. Here, the maritime container, which is I think the most efficient tool that we have in logistics, this is why it's so affordable to receive goods from China and fully standardized and here in Japan another operator with standardized containers at Chinese level, so at Japanese level, sorry. So here what we are looking at is what does it mean to have a physical internet? The digital internet, we know where it is. It's the interconnection of all computers networks and we don't care about the provider and so on, it goes. In logistics, it's not at all the same thing. So what does it mean to have a physical internet which means where all logistics services could be interconnected with each other, not only to ship, but also to store, to do the, to stock, sorry, not to store, to stock. And so for that, we need obviously some kind of asset sharing, flow consolidation at physical level, digital level process and legal approaches and what we have here is some kind of paradox. We have the traffic on the road and we have a full line of trucks, one behind each other and we always wonder why we need in France the French minister to take in charge the fact that we should have a train between Perpignan and Ranges, which seems a little bit crazy again. And here are the flows. The flows are the different orders from the different companies and so on. Here I'm representing the flows from the first top 100 suppliers of Carrefour and Casino going to the different warehouses. So you have all the major players and they are operated independently. This is why it is so hard to have everything in a train because everything is run independently and the coordination of this is a total nightmare. The pooling and so on, nobody wants that. So here we have a network that does exactly the same services but it's concentrated, it's more hierarchical with the backbone and the end loop and so on. And of course it could be operated by different companies and we are experimenting, what does it mean? What is the power of that concept? And we published a little couple of papers, science included, so I was coming from logistics to publish in the top journal, I was like, phew. And so here we compare the two schemes. Each year, captation is like a thesis of work behind and here you have the number of days of traditional fast moving consumer goods shipments, not fresh products and you spend days, then you run with a truck, you spend days, you run with the trucks, then days and then you end up on the shelves. And here if you have that kind of network that is interconnected, you may go at different speeds, especially if you take a train which is faster than a truck by the way, when it's operating and you go from one hub to another that could be shared. So it means that you don't have to put everything in the same place because even if you're a Procter and Gumber or whatever, you have just one warehouse in France. And if you have a problem or lockdown, whatever or floating in that area, you're stuck. You don't have 50 because you cannot own 50 warehouses, but if it's open and shared, why don't put your eggs, all your eggs in the same basket? And we did the math about robustness of such networks, it's way better and there is no more inventory. At the first, maybe there will be much more inventory, but here there is no more inventory. Why? Because the network is the safety. It's not anymore the stockpile of product that you put in the middle of nowhere. The safety is the network. So we had very good numbers and we were pleased with that. And then we said, okay, what do we need? What we need is to improve handling. So logistic is not a fancy subject, but handling, it's nobody is interested in handling, but handling is key to saturate the transportation means. And here is an example of what the maritime container did to the maritime shipping industry. Here is the cost of a shipment of medicines of pills from Chicago to Nancy in the 60s. Here it's the value that would be today if nothing changed, inflation, okay? And here is the actual cost. And what do you see? You see that the reward transport didn't really change. No real improvement, no real innovation. If you look here, the maritime transport, the cost was really divided, but what is really impressive here is the port transit and handling. The revolution of the container is not the ship, it's the crane. And if you have an efficient train, crane, sorry, or I dream of an efficient train for freight, but if you have an efficient crane, then you can go from one transportation into another without geopolitizing the cost, the lead time and so on. So this is a obscure subject, but a key subject. And if I look at my sidewalk in Paris, I'm not living in 21st century, I'm living in the 19th, 18th century. So we need to find mechanism to help coordination and so on. And with that, I know you have a pretty lot of subjects behind that that you know. So we try to create a game, like the beer game to advocate, to advertise the fact that we need to work on that. We need to work on transshipment. We need to have not only marketplace for spots or for single drives, but also to consolidate freight. So it's the, in addition to an efficient handling, it's a way, I will not disclose all the detail and it's late and it's gonna be lunch soon. But we are working on mechanism so you don't have to disclose your capacity, you don't have to give private information but you're familiar with that. And we are still able to consolidate flows in an efficient manner. So we have to deal with the physical side and the coordination side. We are also working with different companies and operators that just an idea. We are working with JS1 to have all the codes when you think about it, the address. All the operators, they maintain databases about address of customers and concededs. And most of them are not accurate. So there is a, we all duplicates the effort for what I'm not sure. So we are working on something that could be like IP address. So we have a single address and behind that we have all the features that we need to be delivered. And of course, if I own the address, I will be really interested to maintain it accurately. We are working also with startups. I have to mention that Derby and Logi Simo are two spin-off of Lappos that are also doing some kind of consolidation, which I think is a really good idea. It's a stuff, but it's a good idea, should be done, should be tested until it works. And I encourage you to go to the Alice website, which is the Alliance for Logistic Innovation for Collaboration in Europe. And Alice is a European technology platform recognized by the European Commission and the goal is to make happen the physical internet by 2030. So we have 10 years, now eight years from now to test, try and improve the concept and do the work again until we find something that works. Yes, I'm late. Let's speed up. So three things to finish. Smart city. So I have a PhD student working on that. Does it bring value to know all the states of the different assets in the city? Like parking spaces and so on. So we are working on that. Could we do better if we have a better view? That's what we try. Of course, from a technological point of view, it's a nightmare. We need to connect different objects we need the object to discover themselves, to talk to each other, to be authorized to talk to each other and to do the coordination mechanism. It's a nightmare, but if you want to park and find the parking place where you need it, that's what you need to have. Another thing, and I will finish this. I have two slides and I'm done. I'm always wondering why we have such a poor design. In Paris, Paris is a beautiful city. Most of the people we travel on the ground, okay? Why the freight enjoys the view? It seems natural, we are used to that. But when you think about it, say, what happened? Of course, there are reasons for that, but we are stuck in that design. And I think it's a shame. And I think it's something that should be changed in the future. If you want to avoid congestion, if you want to avoid to spend energy like crazy, we should avoid to go and stop and go and stop. The only way to do that is to go where there is still space available, which is deep in the ground. And not only the Swiss, the Chinese as well, there are a lot of projects like that on the way. Right now, we'll see if it's worth it, if there is a business model. Of course, this system gonna be shared. By no way, an operator will be able to pay for its own system, like a port. It will be shared, of course. Okay, so let's see. Another thing that I'm questioning is the time of the delivery in the day. We have peaks. Of course, if you want to have an infrastructure, even a urban consolidation center, if you use it two or three hours a day, it's not efficient and the return on investment is not really easy to achieve. So the big question behind is, do we need to deliver not everything, but most of the things in the morning? Not sure. I just launched a survey with students. So they go to all shops and they ask them when they are delivered, if it's an issue for them. And if they are ready to change. So we are collecting the answers. I will share with you the answers when we will have them. And with that, thank you very much. So thank you a lot, Eric, for this very interesting presentation. No, it's perfect. So if... I'm sorry, when I'm jet-lagged, my English is... I lose my English with the jet-lag. No question. It was perfectly clear. Was it clear? No. This one is... No, I forgot this one, but just one final remark. You know that in France, when we go to ski, we all go to ski on the same day, which is just in France. To mean that there is no... It's not something that is universal or that's like a law of nature or whatever. We decided we're going to go all on Saturday and come back on Saturday, which is a huge nightmare for the infrastructure and so on. Yes, you have a question. It's very... Okay, it's very interesting to hear when you're saying we need more coordination, we need more to work together to smooth things out. But how do we practically do that in a competitive environment where, as you said, companies think of their boundaries as what they need to do? So in a competitive, capitalistic society, how can we realistically move to that more efficient environment? What can we practically do where we are all individuals, but it pays to coordinate? So it's a coordination versus individually. So, yes, it's a very good question. We are working on mechanisms to find incentives for companies to share. Like, if you have a warehouse and you know that you have empty space, it can be a decision to set. But it is at some point that this warehouse is quite costly and I'm ready to open it to others. It's happening. At least a dozen of startups are working on that. Like the booking.com, but for the warehousing.com. Open and shared because when you have the capacity, you're also interested in the capitalistic world to make investment. So it's starting, it's slow because I think there are a lot of barriers, not only in the mindset, but also in the IT systems, all the legacy systems we are not designed. They are designed inside us and they were not designed to be connected to each other. But what we see with the SaaS, you know, the software, the service and things like that, Internet of Things that is coming, I think that a couple of barriers with some kind of universal language, business languages like GS1, 4 FMCG, there will be less barriers in the future. And what we see today, I never gave, when I'm speaking and the oil of price is low, nobody pays interest to what I'm saying. Okay. When nowadays with driver shortages, oil price and so on, you pay attention to that subject. Okay. And you are ready to open your mind. And I have another point to make here. Companies, they put the data in Amazon's web services. That is something quite with some value and quite strategic. And you're not ready to, so they share the data repository, the data warehouse, and you're not ready to share the warehouse. We are still working on that. And transportation is a much more complex problem when you want to solve it from an operational point of view, coordinates all the flows, we are working on that, but it's the NPR, the problems and so on, that are just behind. So we are trying to find, doing some benchmarks and so on, but it is still hard, but I think it's the complexity that we need to tackle to go to the next level. There's economics of coordination and consolidation and economics of coordination and consolidation problem. And I think you need to get the economics and the cost of the consolidation down, because until that happens, you won't get people freely willing to do it. There's got to be an incentive here. Yes, we are working on handling boxes in Germany with maybe 20 companies, big retailers and big suppliers to cut the handling cost. Well, there is another project which I'm not able to talk about, about a container for the city. Again, to cut the handling cost. And then there is also, but all the startups that I mentioned to you have been very fast. They are doing double digit savings by the coordination of flows. Then it pays. And if you ask the customers what you are doing, you are using them for the money, for the economics. But we need more investment in that to make it work for sure. But you know, it's one billion to improve the one person, the yield of diesel engine. We should put the same amount of money. Sorry. A bit of a presentation. It is out of my scope of competency. I'm not an economist. So I'm not able to speak about monopoly and competition. I think that is good to have an open system. Because I'm pretty sure that at the end, if it's like, if there is just Google, we are too dependent of an operator. That's not such a good idea. But my goal is really to have different systems to work together. I think it's the most resilient way. And if there is just one and the one is on strike, it's the power of the union in that system. So it should be distributed from my point of view, both technically and legally and to be robust. Yeah, thank you. We are all nostalgic of the good old types of monopoly. No, more seriously. It's my question just in the middle. I mean, can we really trust the forces of market? Or should there be some regulations, some, some decisions made by municipalities or whoever to, to, to, to maybe just start the dynamics of the market or, or to, to, to arrange things. You're absolutely right. I think that we saw in the last two years, the power of the states of the governments and how they are able to shape or reshape the market and the practices. For me, it will not happen just by, again, I'm out of my confidence zone here. So, but policy regulations, for sure, it's not just a technical issue. And it's also an issue for every one of us. If we are aware, we heard, we talked about, is it a green delivery or an orange delivery or red delivery? What do we do? Are we going to pick the green ones going to be two days later or not? So I think it's a subject, but I'm hoping to any collaboration in the field that I'm not good in. What we're doing, we're putting the subject on the table and try to do better, try, but we are proposing something else. So, no, no other question. So I thank you a lot, Eric, for this discussion.