There is the well known problem, or reality, of juvenile and destructive communication on the Internet, normally engaged in behind the protective cover of anonymity. Is this somehow a different problem on the Internet than it is elsewhere and, if so, are there solutions that are effective and justifiable? This CBI affords an opportunity to think about the subject, if it is that, of “Internet Law.” It introduces the idea of a hypothetical bargain among citizens or communicants, as a means of thinking about likely, or perhaps desirable, regulation and practice. It then grapples with the question of whether the interest in, or legal rule protecting, free speech trumps this bargain, or democratic solution. Saul Levmore is William B. Graham Professor of Law and Dean of the University of Chicago Law School. This lecture was recorded November 11, 2008 as part of the Chicago's Best Ideas series. Chicago’s Best Ideas, a lecture series begun in honor of the University of Chicago Law School’s Centennial, highlights the intellectual innovations of the School’s distinguished faculty.