the individual mandate in the grand seem of things is a pilgdsy, unimportant, insignificant, stupid kind of regulation. what really matters is the long-term flow of technology and that's what we're killing off. to pam, i can't forget about it. thank you. >> go ahead. >> this ties into peter's question, right, and peter talked i think very persuasively about some of the problems we have had in innovation and what he called the "what" and the why story which i think peter suggests, well, the problem is regulation and richard picks that up directly. it is not my brief here to defend the fda. i actually think that richard may be right on this although i will note that there are some pretty compelling stories on the other side that got the fda involved in this in the first place so the trade offs turned out to be hard, right, from an economic perspective, not to richard. >> not hard, period. >> well, so we will -- i think there are circumstances in which decisions that individuals make have significant effects on other people in the world, whether it is vaccination questions, small pox, or th