48 fail to “account” for reliance interests. Fox Television, 556 U.S. at 515. Quite to the contrary, it expressly considered the claims of reliance and found that “the regulatory status of broadband Internet access service appears to have, at most, an indirect effect (along with many other factors) on investment.” 2015 Open Internet Order, 30 FCC Rcd. at 5760 ¶ 360. The Commission explained that “the key drivers of investment are demand and competition,” not the form of regulation. Id. at 5792 ¶ 412. Additionally, the Commission noted that its past regulatory treatment of broadband likely had a particularly small effect on investment because the regulatory status of broadband service was settled for only a short period of time. Id. at 5760–61 ¶ 360. As the Commission pointed out, just five years after Brand X upheld the Commission’s classification of broadband as an information service, the Commission asked in a notice of inquiry whether it should reclassify broadband as a telecommunications service. Id. at 5760 ¶ 360. The partial dissent finds the Commission’s explanation insufficient and concludes that it failed “to make a serious assessment of [broadband providers’] reliance.” Concurring & Dissenting Op. at 8. With regard to the Commission’s conclusion that the regulatory status of broadband had only an indirect effect on investment, the partial dissent believes that this explanation is an “irrelevance” because “[t]he proposition that ‘many other factors’ affect investment is a truism” and thus the explanation “tells us little about how much” the prior classification “accounts for the current robust broadband infrastructure.” Id. at 5. But the Commission did more than simply state that the regulatory classification of broadband was one of many relevant factors. It went on to explain why other factors, namely, increased demand for broadband and increased competition to provide it, were more significant drivers of broadband investment. 2015 Open Internet Order,