Part of the problem with lots of data and innovation is the innovation is lumpy. Is MERS a good system? No – but it’s stupid to think things like MERS will get less prevalent. We now have the ability to store all the data, and parse all the data, and view all the data. The reason Mandelbrot studied financial markets is because of the treasure trove of data. The first written records are financial transaction information. Humans care about financial transactions.