Trade Desk Inc Q1 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: David James Beckel - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I have 2 on UID2. It sounds like there's been significant progress on authenticated users, mentioning multiples of the 50 million that was previously reported. But I did pick up on a comment, Jeff, that you made about there not needing to be a magic number of authenticated users, if I'm interpreting that right, to be sort of on par with the efficacy of cookies. I'm wondering if you could just expand on that a little bit because I think there was some confusion among investors exactly how many people need to be signed up to replicate that effectiveness. But it sounds to me like you're saying that's not even the right way to look at things necessarily. That's the first question. And then second, just on some of the larger platforms, Google, obviously, and Apple have sort of cast aspersions about the acceptance of hashed e-mail identifiers like presumably UID2. Do you anticipate a reconciliation at some point with those platforms to get them on board to the way that you look at privacy through UID2?