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The gripe used to be that Europe had yet to prove it could be home to multiple $1 billion+ businesses. We have decisively put that question to rest. Momentum has accelerated, and now we are able to regularly build businesses that surpass the $5 billion+ threshold and have produced two in the $15 billion+ range. However, what we are missing still is an iconic and enduring category leading business, based in Europe that has scaled globally and is valued over $50 billion. I do believe this too is just a matter of time.