Okay, I need to get this off my chest. I've been trying to pick a new VPN for the agency - security is non-negotiable for us, handling client data. I keep seeing "not based in a Five Eyes country" as a major selling point in every review. So I start researching jurisdictions, and now I'm just...confused AF. Like, if a VPN company is incorporated in Panama but the dev team and all the servers are physically in the US, does the Panama thing even matter? What are the actual legal risks? I read one article that said the Five Eyes alliance shares intelligence anyway, so jurisdiction is just a marketing bullet point. Another said it's the single most important factor. idk what to believe anymore. I feel like I'm reading a bunch of spec sheets that are just parroting the same buzzwords, and nobody's actually digging into the real-world, practical implications of where a company is based versus where it operates. Makes me question the whole 'no-logs' promise too, if the legal ground is this murky. Vent over, but seriously, can someone explain this like I'm a tired marketer and not a lawyer?