D-Day for AI: How to Create an End Game That Will Benefit Everyone

00:00:31 Andrew Keen: Hello, everybody. It is Saturday, June 6, 2026. Been another remarkable week in technology out here in Silicon Valley. Anthropic filed for a huge IPO. That was a slip according to the New York Times. Meanwhile, terms have been revealed for SpaceX's unconventional $75 billion IPO. That seems rather small compared now to the Anthropic plans. But, for Keith Teare, the issue this week is more political. He leads his that was the week newsletter with a series of pieces about the political implications of AI. There's a piece in the New York Times about, packs, super packs, funded by AI companies, rivals, OpenAI, of course, and Anthropic. Meanwhile, this week, Anthropic urged a global pause in AI development. Some people think that's used being used by Anthropic in order to, concretize its own domination, and the Trump people are all over the map. Not surprisingly. According to Wired, the Trump administration is at war with itself over AI regulation. So for Keith Teare, that was the week newsletter publisher. He asks in his editorial this week, what is the endgame, of course, associated with technology, AI, and politics? Keith, should we be thinking of endgames? History never ends, so why use this term end game?

00:02:26 Keith Teare: Well, it's another word for a mission. What is the mission? And it's interesting when you look at the politics of AI that there's opinions left and right. And this week, Anthropic doubled down. One of the cofounders went on the record saying, the government's gotta slow it all down.

00:02:46 Andrew Keen: That was Jack Clark. Right?

00:02:48 Keith Teare: Yeah. Because, in his view, AI is getting to the point where it can, iteratively self learn and therefore learn much faster than humans can organize it to learn. And he's scared about that. So it's pretty hard to have an opinion about these opinions unless you have in mind an, at least, a long term end state. It might not be the end in a historical sense, but a set of goals that shape your opinion about the present. And that seems to be missing. So there are so many different opinions this week. None of them state what they'd like to see conclude. And that seems strikingly bad. It's like going into, a World Cup game without a game plan, but you just each player, plays their game spontaneously with no game plan.

00:03:46 Andrew Keen: The World Cup's starting next week. I'm sure that will be the case with some teams. We've been talking, you and I and many other people associated with tech, about tech being the main event, in the world, but now it's becoming self evident. You note in your editorial that AI is no longer only a tech story. It's becoming a story about work, wealth, power, access, infrastructure, and institutional competence. It's a good summary. How self evident, Keith, is this to most people? Because we live in end times in some ways. You talk about an end game. The Economist, you linked to a very good piece in The Economist talking about American capitalism has taken, an apocalyptic turn. Many viewers, commentators, even politicians are articulating things in end terms in the end of the world. So it's a very confusing time.

00:04:49 Keith Teare: Yeah. I actually dropped it from the newsletter because it there was too many articles, but Noah Smith had an article again this week called, it's, we need liberal nationalism to come back, which was, a reaction to that economist piece. And, I think there's a broad narrative. Now if you look at it, the problem is we're so, atomized between what used to be called left and right. I don't think it is anymore that you, we don't really have a proper conversation. And if, if we have a proper conversation, it's very clear that AI represents successful capitalism. And you just say,

00:05:33 Andrew Keen: How are I, Keith? you're just saying, woah, everyone's divided and then you just make the case for AI. You're no different from anyone else.

00:05:41 Keith Teare: No. I'm saying let's break it down in a way that defies labels. And my first point is AI represents capitalism being successful. It's when resources are directed to money making opportunities due to the profit motive, which coincides with innovation and spins up lots of jobs in AI. In fact, most of the recent numbers are suggesting lots of jobs due to AI everywhere, at least in the short term. And that is successful capitalism. What we have is unsuccessful government alongside that. So government is doing two things. The Trump administration is it was hands off. This last week, it decided that, all models have to be submitted for thirty days assessment prior to being launched. So that's

00:06:42 Andrew Keen: Be effective, isn't it?

00:06:43 Keith Teare: That's exactly.

00:06:45 Andrew Keen: Are they gonna do drive up in trucks to, to the White House? They won't get any I was in DC this week. You can't get into the White House because they're building all sorts of weird new things.

00:06:56 Keith Teare: And, and, and then you've got, individual politicians reacting to that, government failure of government to really have a plan. So this week, Bernie Sanders argued for 50% ownership of all the AI companies. Bernie You

00:07:13 Andrew Keen: Talk about that, a onetime 50% tax, and then another of your old friends, Elizabeth Warren, argued for high taxation. I was actually surprised in your editorial. I thought you would trash Sanders and Warren, but you acknowledge that at least they're having the conversation.

00:07:30 Keith Teare: At least they're having the conversation. Unfortunately, it's framed inside of a, a centralized government view of the world. They're not very creative when it comes to how do you distribute wealth to people in modern society. So their theirs is always tax, centralized, and then spend, which, of course, is very unattractive to most people.

00:07:55 Andrew Keen: But what gives you, Keith Teare, the I wanna say the right. That's the wrong word. What gives you the authority to talk about this in any different terms from anyone else? You have a position. You argue that it reflects AI reflects capitalism working well. Many people would strongly disagree with that in terms of monopolization and inequality. We've talked about this endlessly, Keith. Why are you any different from anyone else?

00:08:25 Keith Teare: Well, I do have a PhD in on this subject.

00:08:29 Andrew Keen: So Where did you get your PhD from, and what's it about?

00:08:34 Keith Teare: My PhD was why capitalism never, is never static, and that new entrance always eclipse all of it.

00:08:41 Andrew Keen: Where did you get your PhD from, Keith?

00:08:44 Keith Teare: University of Kent.

00:08:45 Andrew Keen: Where's that?

00:08:46 Keith Teare: In Canterbury.

00:08:47 Andrew Keen: I'm teasing you. I'm teasing you. And when did you get it? the 1970s? my point is that it doesn't give you any more authority than anyone else because you got a PhD in 1972.

00:08:59 Keith Teare: That's a bit of a useless criticism, Andrew, because you could say that to anyone about anything.

00:09:06 Andrew Keen: Yeah. But your point is that everyone has views, and that's bad. And that

00:09:10 Keith Teare: No. I no. I'm not whining about views. I'm saying there's no endgame. And the end game needs defining. The society has to have a conversation. Well, Sanders and Warren

00:09:21 Andrew Keen: Have end games. You may not agree with them.

00:09:24 Keith Teare: I don't think those are end games, but they're at least contributions to thinking.

00:09:29 Andrew Keen: Yeah.

00:09:29 Keith Teare: And you're right. I do give them credit for that even though I actually disagree with both of their specific proposals. At least they're, so for example, 50% ownership of the AI companies. Let's ignore the fact that he wants the government to do that and imagine, through a sovereign wealth fund. Let's imagine he's actually gonna give every citizen a stake in that sovereign wealth fund, which would probably fix the idea. Well then, honestly, 50% isn't enough. It probably should be 90%. If you really want to get the wealth distributed, 50% isn't enough. And

00:10:10 Andrew Keen: I take yeah. I take your point, and I don't disagree with you on in principle, but better than I do that everything's moving so fast. There are gonna be three IPOs this year. They're gonna transform everything, financially, economically, technologically. Yeah. How is it possible to slow everything down so that the conversations you wanna have, maybe Bernie Sanders and Elizabeth Warren, if you don't agree on everything, you agree at least on having the conversation. How is it possible to have this conversation? My guess is that as the 2028 election comes after the midterms, these conversations aren't gonna be had in either party.

00:10:56 Keith Teare: Well, weirdly, I disagree with that. I think, firstly, I don't think you should slow things down. And, anyway, it's impossible to. So it's not a worthwhile conversation to slow things down. I do think, as things speed up, the amount of wealth being thrown off is gonna grow even more and fast. And the ability, of that wealth to, uplift everything is gonna grow. And I think the idea of, if you listen to Altman and Musk in particular, Amodei is silent on this point, but he's probably got a point of view. They're pretty open to the wealth being, figured out societally, to uplift everything. They're both open to that. And so the smart thing to do would be to be having a conversation with them about, how and what and when. And that conversation isn't happening. There isn't there is no conversation. There are various people drawing up manifestos, which I didn't wanna do because who am I to draw up a manifesto? But there needs

00:12:10 Andrew Keen: PhD, Keith.

00:12:11 Keith Teare: But there needs to don't ridicule me, Andrew. It's not fair. But it at least, creates the, that discussion that is absent is very available. So it's it is somewhat tragic. Now if you tie together a couple of things, Trump recently, along with, one of the all in podcast guy no. What's his name? Brad Gerstner, created this thing, the Trump wallet, where every child in America has a thousand dollars of equity, at birth that, sits for eighteen years while before they go to college. You've already got conceptually there the idea of money directly going to citizens from capitalism. And it seems very easy to extend that in a much, much bigger way to the wealth that's gonna be thrown off by AI. And that seems a reasonable conversation to be having, but isn't happening. Instead, what you've got is politicians coming up with one off ideas. Obviously, as politicians, they're focused on the next election, midterms. They have very short term agendas. And I think this week, you gotta say hats off to Bernie Sanders and Elizabeth Warren for at least having, half of an idea. Yeah.

00:13:41 Andrew Keen: And you also know Greg Casar, democrat from Texas, proposing an AI token tax. So people are thinking creatively. The Economist piece was good. It talks about Wall Street being in a fatalistic mood, and it talks about, the great crashes in the past, mentions 1873. They talk about the most read book on Wall Street last year was called 1929. A good bet for this year is 1873. And as it happens, the author of that book, Liaquat Ahamed, was on my show, and I was actually at his book party in Washington DC last weekend. His new book, 1873: The Rothschilds, the First Great Depression, and the Making of the Modern World, talks about 1873 as an example of, the first example of a global crash. I wonder whether there's any chance of these IPOs triggering the crash that happened in 1873 or 1929. Billions of dollars, hundreds of billions of dollars are gonna flow into these IPOs. How fragile do you think the world economy is or at least The US economy when it comes to these IPOs?

00:15:04 Keith Teare: Well, I think it depends on the level of abstraction you discussed it at. I think at the level of AI, The US economy is extremely healthy. The level of jobs, it actually seems quite healthy as well. Yeah.

00:15:18 Andrew Keen: The job numbers are very good that came out yesterday.

00:15:22 Keith Teare: But at the level of global displacement, which is what my PhD was about, it's very clear

00:15:29 Andrew Keen: That Did you talk about 1873 in your PhD?

00:15:33 Keith Teare: I did. I talked about Britain being eclipsed by The United States as being an inevitable outcome of a set of trends that started actually earlier than that in the eighteen fifties. And, and so he's right. I think he's his book is on the money, and I do think America went to the book.

00:15:53 Andrew Keen: Yeah. He's also the author of a very, a very brilliant book about the great crash of nineteen of the 1930s, which actually won the Pulitzer Prize back in, I think, 2010 or '12. So he's a Yeah. He's a very good writer.

00:16:07 Keith Teare: Well, both of those crashes were symptomatic of the changes in the world, which was the relative decline of Britain and the rise of, at least two competitors, Germany and The United States. And that was a 100 long process, that culminated at the end of World War two with The US being supreme and the move off the pound to the gold standard initially and then to the dollar. We are at a similar moment when it comes to The US and China early. We're very early in it. So we're at the ? But it won't take a hundred years this time. Things move faster. And AI is a key driver of

00:16:49 Andrew Keen: Yeah. It never happens quite when you expect it. The Economist makes an interesting point. The best of times, the worst of times. They say, the danger, the real danger in 2026 isn't 2008, 1999, 1973, or 1873, but, actually, 1789, which is, of course, the year of the French Revolution. So like you, The Economist leads with politics. There are economic indicators and data and all the rest of it. But, ultimately, we live in this weird times where everyone seems so pessimistic about Well, look. Technology and progress. As the economist says, American capitalism has taken an apocalyptic turn. And in apocalyptic times, you get a politics of the apocalypse too.

00:17:47 Keith Teare: Well, I think you get both things. Think of it this way. Every crash is a rebirth. And so what came after 1873? And what came after the thirties? Well, the answer in both cases is World War one and World War two. What came

00:18:07 Andrew Keen: And after 1789, and as, Ahamed, tells me in our conversation, you had this long depression that some economists argue existed between 1873 and 1899. So you had a quarter of a century world depression.

00:18:24 Keith Teare: Which happens when there's no catalyst for innovation and therefore no growth. And, and, and, and we're not in that moment. We have probably the biggest ever catalyst for growth in history. I do think the 1789 reference is interesting. 1789 represents the end of feudalism even though literally it took till the Spanish and Portuguese revolutions for it to fully end, but it which was the 1970s. But the end of feudalism started in 1789, and arguably with the American revolution as well. And, we are a moment where capitalism has the potential to deliver the end of wage slavery and this rich poor divide. It actually has that potential. It is on the agenda of history today. There is a legitimate conversation about a post abundant society.

00:19:26 Andrew Keen: So who's having that conversation? You Ted there. Bernie Sanders and Elizabeth Warren?

00:19:31 Keith Teare: No. They're more mechanical. They're looking for instruments. I think Ezra Klein is closer to the conversation. I don't think anyone's really having it in a thoroughgoing way. There are no revolutionaries, really. Probably Sam Altman and Musk are the closest because they're actually discussing what should happen to the wealth. And, they're obviously the wrong people to be doing it, but they need to be in the conversation. And so we are at a an interesting moment in history where the challenge to intellects is what do you want to build societally? That's hence my title, what is the end game? It is the right question for the moment we're living through.

00:20:21 Andrew Keen: Yeah. I maybe it's right in a very abstract sense, but I don't think anyone's has there ever been a time Keith, you're mister PhD. Has there ever been a time in world history where people have had that conversation even in slower times?

00:20:40 Keith Teare: Well, the I think world history is littered with such moments. They don't always pan out, but they mostly do.

00:20:47 Andrew Keen: We Maybe the equivalent given especially this year with the 250th anniversary of the American Revolution, maybe the conversation around the American Revolution, the Federalist Papers, the writing of the constitution, the debate about what a republic should or shouldn't look like. But I don't think America is, in 2026, in the same endgame mood or long term mood as it was in, 1776.

00:21:16 Keith Teare: Well, you're right because a period that's challenging in the way that this one is and in the way that 1873 and thirties were produces doom and gloom and a search for alternatives. Both exist, and the doom and gloom certainly dominates until it doesn't. And so we are very, very clearly in a doom and gloom moment in America, at least, when it comes to AI, the opposite in China. And that is not just gonna go all by itself. Basically, if normal people saw AI as the path to their own better life, that would change, but they don't. And the reason they don't is no one's talking about how to get that path to a better life in any actual, operational way that could be implemented. And Sanders and Warren this week throw something in the ring, which forces you to contemplate.

00:22:21 Andrew Keen: One of the other pieces you link with, which actually is another interesting piece, is by Harry Law. Politics cannot be simulated. There's more to democracy than decision making. Some people see AI as the new operating system for democracy. But law argues that it's all about citizenship. Your AI summary is that, and I'm quoting that, Harry Law argues that AI for democracy projects risk making politics better at aggregating preferences while leaving the dip the deeper work of civic formation untouched. Yes. It's a good piece, and it's an important piece. And it ties very directly with your argument that

00:23:02 Keith Teare: Yeah.

00:23:04 Andrew Keen: You're writing in your editorial. The endgame is political, and yet we can't think politically. That's the problem, at least politically in the way in which Harry Law defines politics. He's certainly not the first or the last to define politics in those terms.

00:23:20 Keith Teare: Well, it's because we're obsessed with fighting the last battle. We're not really looking forward. All of the narrative around The US political, ecosystem, is dated back to the earliest it goes is Reagan, but it's mostly about the '20 the 2020 election onwards. And Biden and the Trump administration and his proclivity to break the law, corruption. It's all this very narrow, stuff that it's like when a family meets at Thanksgiving and argues over the dinner table about something that happened five years ago. We're in that, that mood and clear thinking. And I do think your interview of the week is a representative of clear thinking. Clear thinking is in short supply and certainly at the leadership level doesn't dominate. And that's the fix. The fix is I think the fix is now clear. So who's gonna step up and how?

00:24:29 Andrew Keen: Well, you could have had this conversation, not that we would have because we weren't around in 1788 or 1770, 1787 in France. The Economist, which is a conservative newspaper, some people on the left would say it represents the ruling class or the wealthy class, is fearful of 1789. But there is an argument, Keith, to make that given the dysfunctionality of American politics and capitalism, the inequality, the inability of the state to rein in tech, the incredible wealth that's gonna be that's already been created and will be even more compounded this year, There is an argument to make that America needs its, 1789 or 1776 or even 1917. politics, democracy, it's just not working in terms of addressing these issues. So I take your point, but you only have to switch on you only have to go online, and everyone's saying the same thing, but no one's coming up with any answers. There isn't an end game. There's no real structural conversation. Everyone in their camps, it's like your dinner table conversation in a

00:25:39 Keith Teare: Country. Exactly right. And so if we can put our finger on that as the problem, then you can start thinking about solutions. It I think it makes, intellect and dialogue more important than ever.

00:25:57 Andrew Keen: But you and I can afford that. You and I are both Silicon Valley people. Financially, we're very secure. We have fun with all this stuff. It has no meaning to us. We don't have careers or we're self employed, so we're not threatened by any of this. So it's easy for us to have the conversation. Much harder for people with less wealth, less privilege, less power, certainly in a generational sense too. Young people are increasingly angry and upset. In some ways, perhaps justifiably, and others, perhaps less justifiably.

00:26:32 Keith Teare: I think that's a correct description. I think to make it to, to start being useful, we have to do more than describe the malaise. We, we, because within the malaise, you can point to little beacons of light and, and to give them credit, I do think Sanders and Warren this week were little beacons of light. They're gonna they'll mess it up because unfortunately, the framing that they think of it within isn't gonna pan out. But at least the they've put their finger on something that we should think about.

00:27:08 Andrew Keen: Well, there are two tag teams, Sanders and Warren and Musk and Altman. Maybe we should need to put them all in a room.

00:27:15 Keith Teare: Which won't happen, will it? Because of the way the politics is, but it should. That should happen. In fact, I think the Democrats would run away with the next election if that conversation became central to their entire plan. But unfortunately, they think in terms of monopolies and big tech. And so they're completely immune to having that conversation.

00:27:35 Andrew Keen: What do you think? And, I'm not a big fan of, Elon Musk, certainly, this idea of the end of money. But what would Bernie Sanders and Elizabeth Warren's reaction be to Musk's utopian idea of the end of money? Would they just dismiss him? Would they say he's self interested? Would they say he's mad?

00:27:56 Keith Teare: It's hard to answer at the level of those two individuals, but I will characterize them as being part of a movement or mindset, that is dominated by the old economy. That, their primary relationships are to trade unions and to institutions that, that represent the bureaucracy of the working class, if you will, plus various coalitions. But the black coalition, the LGBTQ coalitions. And, and, and it that so their primary framing is the preservation of the coalitions self interest, which pertains to an old economy. And so I fear that they are not well placed to really, in a relaxed way, think about the future. The future probably means there will be no teachers, for example, in the way that we think of teachers today. Well, it's hard for them as teachers union, sponsored to contemplate that. So I do think that the structure of the past will get in the way of them thinking about the future. It really means that the old Democrat Republican structures are dated now. It's funny. Andrew Yang this week went even further — is it Yang? — is it the guy that was the UBI guy in the, previous election? Yeah. New York based. And he's now part of this forward party or future party. I forget what it's called. He was interviewed on CNBC this week, and he talked about universal capital distribution. I didn't put it in the newsletter. I probably should have done. He's a little bit freer from the past, so his thinking can go further. But I think it really comes down to a new generation of thinkers, that will not be held down by the past.

00:30:03 Andrew Keen: So what's gonna happen this year, Keith, in economic terms with these IPOs? What's your prediction? is it gonna create a new class? I live in San Francisco. Real estate prices doubling, tripling overnight through these remarkable wealth creation machines, these new AI companies. Yeah. Isn't it just gonna compound all the old problems, massive wealth inequality, more and more a tinier group of tech companies, Anthropic, OpenAI, XAI, that dominate every aspect of our economy, as well as Google. You have some interesting pieces on actually on Google this week in which Ben Thompson talks about Google becoming a capital company, a company that really is focusing more on data than anything else. John Battelle, has a good piece in your newsletter this week about Google reinventing itself from search to this big data center company. It just seems as if all the problems are gonna be compounded by the end of the year. This time next year, we're just gonna see more and more of the things that upset people, that make them conspiratorial and, and apocalyptic.

00:31:18 Keith Teare: I think the answer is yes, but, yes. And, certainly, as these three IPOs, pan out and by the way, Cerebras went public a couple of weeks ago, and 800 employees are now millionaires, every one of them. And so the Bay Area housing market certainly has a glut of people who can afford to pay cash for homes, which is gonna lead to prices rising for sure, at least stable stabilizing. And these three IPOs are on a much bigger scale than Cerebras, and will compound that. They will be successful. I can tell you this week in my, in my brokerage accounts, SpaceX shares were offered to everyone. I said I wanna buy them if I can. I suspect I won't get any because I think the demand will be way bigger than the supply. And the price will probably go up, initially, at least from the offering price. So, yes, you're right to describe the growth of rich people is gonna be accelerated, into, some tens of thousands of people. It's not millions. And, everyone else will stay where they are.

00:32:45 Andrew Keen: Yeah. And meanwhile, you just made the announcement that the teaching profession will go away, which certainly teachers aren't gonna be happy with. The Bernie Sanders and Elizabeth Warren aren't. You have a piece on the benefits of AI to the independent writer, but we were often seeing these pieces at times of technological upheaval. Usually, independent writers don't do very well out of all this. We still have the fundamental question, Keith. We don't have a lot of time left on the show. We So I don't necessarily wanna address it, but no one knows what anyone's gonna do. If you're right, if the teaching profession is finished, I don't actually agree with you, but it's certainly gonna change dramatically. It's not clear what everyone's gonna do. Are they all gonna be part of some sovereign wealth system, getting their thousand dollars a month?

00:33:34 Keith Teare: Well, to be clear, I don't think the profession's gonna go away. I think the job is gonna go away. I think teachers will become more like mentors of other human beings. I think the human to human relationship will be enhanced, and the mechanical delivery of content and scoring will go away. It that'll that can be automated. So I don't think the profession goes away, but I think it changes massively. And, I think while whilst we're describing, and I just reinforced everything you said, but the one thing I'd say that's different to you is during this process, enormous amounts of wealth that is not sitting in the equity of the employees will be created for society. And that, therein lies the

00:34:25 Andrew Keen: What does that mean, created for society? Well, what does that

00:34:31 Keith Teare: Profits get taxed, tax goes to government, government buys things. That is gonna massively grow. The GDP of the world is gonna grow probably by two times.

00:34:42 Andrew Keen: Sorry. The GDP of The US. I'm not sure about the world.

00:34:45 Keith Teare: Even the world is gonna go up two times, because these tools will get used in every country. And it may even go up more than two times depending on the time frame. So wealth's gonna be created an unlike ever before. That is the opportunity. The shortcut word is abundance. Abundance opens up political possibility, and that is where the conversation needs to be.

00:35:13 Andrew Keen: Well, let's end. I know you gotta run, Keith. Let's end with something very concrete. You've talked about needing an endgame. I disagree with you. Although, as I said, I don't think you have any more or less authority than anyone else. We all come with a baggage of opinions, of ideology. Give me one concrete thing that you would like politicians on the left or the right or the center to actually take up this year to address

00:35:42 Keith Teare: I would like

00:35:44 Andrew Keen: That possibility and the problems of this new AI economy. One concrete thing.

00:35:48 Keith Teare: I think they should create the institute for the future. It should have Musk, Altman, Amodei, and everyone else, and politicians to talk about the concrete future they want and define actual outcomes that then become consensus within that institute for the future, and then they seek governmental authority to implement it.

00:36:14 Andrew Keen: But they won't all agree. Everyone, is Bernie Sanders and Elizabeth Warren gonna be invited to sit around the table with, Everyone should

00:36:22 Keith Teare: Be invited, but with a clear goal, define the future we want.

00:36:30 Andrew Keen: And that's politics. Not everyone's gonna agree. Some people want inequality. Some people

00:36:34 Keith Teare: Want equality. Some people

00:36:35 Andrew Keen: Want a future with work. Some people want a future without work. Doesn't this go back to Harry Law's argument that you can't you wanna simulate politics. You wanna turn into

00:36:46 Keith Teare: I will give you an I'll give you an example of a multi stakeholder body like that disagrees all the time, nonetheless makes decisions and implements them, which is ICANN. It's a global authority over the Internet. And it is entirely possible for human beings to disagree, but have a process to decide things.

00:37:08 Andrew Keen: Well, there you have it. Keith wants to create an ICANN for society, for AI. Interesting idea. Interesting conversation, Keith. No doubt this subject will reappear next week. It's certainly not one going away. Thank you so much. Have a great week, and we'll see everyone next

00:37:25 Keith Teare: Week. Bye.