
The second is, of course, the technical challenges of AI scraping and people using our content — the technical challenge on our infrastructure. And I think a piece of that that we haven’t seen as much yet, but we will see increasing in the near future, is this: it’s one thing to say there are all these AI companies who are heavily scraping your content — so Enterprise is sorting that problem out and charging them money. But we’re about to see more and more people with very easy-to-use agentic AI on their own machine. So the person who has in the past typically ended up looking at three or four Wikipedia entries in a month may now see zero Wikipedia entries with their own eyes — but their machine might see fifty, as it researches things for them. So then we’re going to have a huge amount of traffic, but no opportunity to ask them, like, could you chip in? So that’s an interesting one.