 Honourable delegates, hosts, ladies and gentlemen, I'm delighted to be here in Buenos Aires. In the interest of time, let me incorporate by reference all of the many thank-yous, well-deserved that have been put forward by the preceding speakers. Instead, let me start with one admission and two assertions. The admission. I was a senior official at the FCC for eight years in the 1980s, and we made plenty of mistakes. In fact, on cellular, I think that's all we did was make mistakes. So, buyer, beware. Now for my two assertions. One, broadband is a key driver for the digital transformation and economic growth, and it's going to play a fundamental role as a component in next-generation technologies like 5G. And I could cite very big numbers here involving billions and hundreds of billions of dollars from private analysts and the World Economic Forum on the impact, the revenues, and so on, but I'm going to spare you all that. Two, broadband is deployment and subscribership is going to occur where and when companies and consumers think they're going to benefit from it. And policymakers can have an enormous impact on where and when that is. First, they can create an attractive investment climate and adopt enlightened antitrust and spectrum policies. And if anyone doubts the significance of those factors, consider the enormous remarkable increase in cellular subscribership in Latin America, Africa, India, and so on, all within a space of a few years in this last decade. It is the most remarkable telecom success story in my 36 years of watching telecom policy. And policymakers can address areas where broadband is unprofitable, either because of costs or income, and then there are special areas where they have roles in infrastructure, security, training and education, and so on. And often it's going to be the case that market-based solutions, public-private partnerships will be the most useful way to proceed there. If you're interested in this, I encourage you to look at a report recently released by Intel and others on the IoT strategy dialogue. One final word on 5G and why it's relevant to developing countries. Consider that 90% of broadband users in developing countries are mobile broadband users. And the surprising effects that that had in many, many cases, the remarkable example of course of mobile banking, 5G is going to surprise us in very much the same way It won't happen all at once or everywhere the same way, but there will be many surprises. For example, will it be the case that low-frequency, low-bandwidth applications for agriculture will save lives, or smart uses for sustainable water management, or high and mid-band frequencies which will make possible more capacious, more reliable data services, which will then free up or make possible remote, rural health applications, remote monitoring and so on, in ultra-rural areas, or in cities and urban areas, autonomous vehicles, again, saving lives. These are all things that may again become possible when these things start unfolding in developed world, the equipment being depreciated and the uses attractive, which brings me back to where I began, which is that policy makers can have an enormous impact on where broadband and next generation broadband will be beneficial. To get that benefit, we're going to need to get the big things right and focus on special roles, and if we do that, we will get big and special benefits. Thank you very much.