taylor: to play off of that, if the stories are monetizing well, do we expect the next logical move to be to go overseas? sarayou will see more monetization from instagram in general. the problem is users are increasingly migrating to the ephemeral format and not posting as much on the main page. the main feed has ads that are much more expensive, so the overall advertising price has been depressed because of this shift to stories. maybe once it becomes more natural, you will see that improve over time. taylor: eric, is this a good sign that, as long as they are monetizing it and ad revenue is rising, is that really what matters? eric: it does appear that it would cannibalize some spending from the instagram newsfeed. , which takes a higher price, currently. that really has not happened, and advertisers are just generally increasing spending. taylor: eric, do these things actually work? i see ads, but are people clicking on them? >> first off, facebook, instagram, they have great tools for advertisers. when you look at attribution, they really are ahead of the pack, in a lot of ways. you can type back if some