initial thoughts: 1. It really is quite long. lol 2. The stuff on areas that I have expertise and that I fully understood, I almost completely agree with commissioner Peirce's views & takes & questions. 3. There was also a bunch of stuff that was so far in the weeds on topics with details/rules/regulations that I personally am not intimately familiar with. That said -- there's obviously a TON of thought and detail going into the questions they are asking and the solutions they are considering. Which is a huge step up from: "Pretty much everything is a security and we're gonna sue or threaten to sue the entire industry"