 Okay, great, let's get started. I'm Eunice Yoon, I'm with CNBC, I'm the China Correspondent, and I'm very excited to be here with the co-chairs of the forum. And as you all know now, this forum's theme has been to chart a new course by leveraging technology, science, as well as innovation. And so I think it's appropriate that, now that we're winding down, that we really reflect on some of the conversations that we've been having here, and think about what they really tell us about the future of innovation, science, as well as technology. So, first I'd like to introduce the panelists who at this stage you all well know. Chung Wei, who is the head of Didi. Didi. Yep. And Mitchell Baker, of course, with Mozilla. Also, Nathan Blechar-Zick, who of course is the CTO of Airbnb, Ken Hu of Huawei Technologies, Jeff Tarr with Digital Globe, and also, of course, Lee Ray Gong, who is the head of CMC. So, just the first question that I wanted to start off, looking forward for all of you. If you had the power, you were granted the powers today to change one thing in the world that would have the greatest impact to ensure that the future was innovative and that the environment was appropriate to foster innovation. What would that be? What would you change? Please, feel free to jump in. I'll jump in, sure. Well, after the last couple of days and meeting so many people that are really doing cutting-edge work, I think it's become very clear that we are capable of the innovation. The innovation is happening. It's really a question about the values and aligning on in this world and as it changes and as we innovate, how do we roll out that change? And I think that's where some of the more complicated questions come up. I've been in a number of panels and so many good questions were raised about the implications of change. I think there's no question that the change is gonna happen, I think as a society, but the one thing we need to do to make sure this innovation fully, that we get the full benefit of the innovation is to manage the dialogue about the implications of the change. I think this has a lot to do with values and I think ideally government can play a role in helping to have an organized conversation about these values because these value-based conversations quickly become complex conversations. I think that's gonna be our biggest struggle, managing all this change. I think Nathan makes a number of really good points. First of all, the innovation is happening and this event really highlighted innovations that I was aware of and innovations that were new. With regard to values, I do think the values are critically important, especially as innovation requires global collaboration and one place those values are really important is values with regard to cyber threats and privacy, which is our essential building blocks to fueling the innovation that we need going forward. Interesting, I would add to that, expanding the conversation to really super-charge innovation, we should either enable or give tools to more people like the set of people who are able to innovate now is growing but still limited and we have with the innovations and technology so far vast new possibilities between 3D printing, the ability of digital information, we can make innovation available at a micro level and so we can have a spectrum of innovation from the kinds of innovation we see here which often requires high investment, high education down to micro innovation for the billions of people who are in desperate need of the ability to improve their own lives and that will both help with values because you have more people engaged and make the values discussion more complicated because you've got a larger set of humanity involved. Yeah, we've been in a discussion about innovation of technology, innovation on the science and innovation on business model in the past few days and if I'm considering what's gonna be changed in the future, I would say I will make the world more connected to make it as a super connected world. A super connected world means we're gonna have more connections from now observation by the year of 2025, we're gonna have a thousand billions of connections globally and that will enable us to get all the things around us including the your glasses, watches, shoes and everything and even including yourself to be connected with each other and a super connected world means you're gonna have a faster speed connections, super fast which is a hundred times faster than what we have today. That means you're gonna download the high definition video in a second and the super connected world means you're gonna have a very lower latency which means the network will response much, much faster than before. That means you're gonna make the drive this car into the reality. So I believe a super connected world is what I really want to make as a big change. Rekong? It's quite interesting question. I was involved in some workshops and the panels in the past three days and I learned a lot. And actually, because I come from the Chinese media so people when facing this kind of question people definitely will think about how about censorship. That's the kind of the fundamental things happening in China. However, I do think, I think the answer is I always believe in creativity. So creativity I think can surpass everything tried to limit you. So for example, one thing or one debate in one of my panels is about who is going to play more important role, editorial or technology. So the situation is, traditionally there were a lot of TV stations, newspapers playing very inferential role in the media space. And currently there are so many new platforms, especially the social networks. And traditional media should go through those social network to spread their information. So, and also yesterday I saw an article talking about the Chinese company Tencent is going to use the robotic technology to produce news. Actually it's already happened in US and it's kind of the programmatic or robotic technology to use creation service. So in the future, which one will be more important? Editorial side, media influence very powerful. And right now the platform, the channels who plays more important role in the future. I think maybe both sides will continue to grow. However, I think in this world, creativity is the most important, creative content, creative technology, creative of the connection will take over all the boundaries, limiting the business. That's my thinking. So I'd like to speak Mandarin, so you have to put on your earphones. So I'm from China's very young internet company that is DD. So we have changed our name to DD Chu Xing. So with our past three days in diverse, we talked a lot about innovation. So happy, innovation will change our future in the world. So what is the most important for our innovation? So I believe, so we have a lot of encouragement, stimulus of innovation to be more, some of the inclusiveness, more encouragement to those failed people. We have public innovation, a lot of makers, a lot of entrepreneurs. We try to encourage not only the success, we will focus more on the process of innovation. So for most of regulating environment, maybe it's appropriate for the previous generation or the previous century in the innovation. So how to make it more adapted and adaptation to be more relaxed and also for those innovation and the more follow-up of this innovation. This is quite important. We need to have a more flexible environment, a change in values, making sure that there's much more connectivity and creativity. What happens to the global economy if in the next five years we do not have those? Don't all jump in at once. What kind of impact do you think it will have on global growth if we have maybe some incremental changes, but not necessarily something that's so disruptive or something that would really dramatically change the field? I mean, I think simply put there would be slower growth and I think that would come with kind of fits, starts and stops and I think it might not be as inclusive as possible. I think one of the themes that emerged from what I heard from folks saying is the idea of democratizing innovation, including more people in the innovation process and to further creativity, to solve problems that currently aren't being solved, but also in the process of engaging people in innovation, getting them to come to the table and have that values-based conversation about the future. I think so many people right now feel like they're not part of the innovation and that this is kind of happening to them and they feel more of the victim where I think the attitude that would be great to promote is have everybody be innovators, have everyone kind of be envisioning the future and being a part of creating that future. I believe the innovation we're seeing has the potential really to create a much better world and to solve the most complex problems we're facing today. If some of the changes you heard about today were to cease or go backwards or not move forward, then I think it would lead to a less stable world and more people left in poverty, left in hunger, more refugees, it would be an awful situation. But I prefer to be optimistic and I am optimistic. I think this event gave us plenty of reason for optimism. Yeah, I'd like to address this question from another perspective because I'm quite optimistic about the future and what I'm considering is that how to make sure all those interruptions happen. So I believe the key is that to develop a more supportive relationship between some of the key elements for future innovation. I think there are three key elements, technology, regulation, and business model. I think we need to develop a new model which will give more support to each of the elements. For example, the regulation can be a neighbor for new business model. They can trigger a lot of innovation in the business and the technology. And the technology innovation could be a key neighbor for the business model innovation as well. And the business model innovation will really give a lot of guidance for the future technological innovation. So I think the key is to develop a more supportive framework for future innovation. So how do you build that more supportive framework when you look around the world? Growth is slowing down. And when growth slows, you tend to see companies maybe don't want to share as much information as governments, maybe are a little bit more suspicious of each other. So you're trying to build a lot of support. You're trying to create connectivity. And how do you improve the trust? How do you build the trust? How do you ensure that there is enough trust in the system to overcome these obstacles? Yeah, I think we need to figure out what's the fundamental driving force for the framework. And I think the answer is the value. What's the value you're going to create for the consumer? What's the value you're going to create for society? Only when you identify the value, then you're going to have a lot of a chance to develop this framework in a very natural way. Yeah. Hopefully, I think... Go ahead, Roge. Please. I think there are also some traits to the organizations or institutions or process through which you work that enable and develop trust. And so that's a question of sometimes it's really openness, how much do people see and understand what's going on. You know, other times it's can you have a discussion in private and test out really difficult or potentially explosive ideas and try something new. And often when people and organizations are in a defensive mode, as you described, we as humans revert to the closed, secretive protection piece. And so a very conscious effort, especially in a connected society where relations between customers and consumers are important and governments and citizens are more connected. This very conscious question of I feel this protective, be quiet, be secret. What are the right times to actually be open and invite discussion? One thing that the internet sort of life and society has done is make that more important, especially to younger generations that are accustomed to it. And so a very conscious effort of when to practice openness, when to be transparent, when to have discussions, when the leadership... It's productive to really engage in a much more serious level of discussion than your basic defensive posture would suggest. Yes, I mean, talking about the next five years, you know, the business growth, I think I would like to go back to my business and so it's a more vertical, more concrete area. I mean, for example, like the TV business, our business, it's going to be significantly changed, I think in the next five years because of the ongoing technical new development. For example, like the smart TV. So that would be another wave to fundamentally change the whole chain of the TV business in the future. That's kind of an example to this question. Because in the past, the media landscape, the TV media landscape is we had terrestrial, we have cable, we have satellite as a transmission network. But going forward, internet would be open space for all the signal to spread. And the smart TV is kind of the combination of hardware, software, and also content aggregation. So when you launch a smart TV, you play a lot of different roles like you are a TV set manufacturer, you are a software designer, you are also a TV station aggregating contents and packaging contents, delivering contents. And also you deliver the product to the end users. So that's a full chain. It's a closed circle you can manage. So that's the fundamental change of the business model of the TV business in the future. And it will create a lot of opportunities for the startup companies, for the content providers in the future. So I think that's the, you know, everything will, I mean, because the infrastructure of the media landscape will be changed, then so many other things are wrong will change, you know, according to me, will be changed according to me. In that context. Chenglu, did you wanna weigh in? Okay, thank you, thank you. Of course. Thank you, yes. First of all, I think we need to have confidence. I read a lot of news and coverage. In each and every industry, we are focused on innovation, investment, and input in new ideas and research and development. Because the new business model will lead us through this economic crisis. So I think confidence is the most important thing and the most valuable thing. Two decades ago, we couldn't think of internet as so important in our society. And also two decades ago, we couldn't think about some new industries propping up. However, during the economic transition, a lot of entrepreneurs and also enterprises will lead us and guide our way. So confidence is very important. And apart from this, we need to have the support and also inclusive environment so that we can really nurture innovation and also repeat that across the globe. So we're quite optimistic. You raise a really important point. I think one of the great themes of the last couple of days is collaboration. Innovation is enabling new types and forms of collaboration. And collaboration is enabling a new wave of innovation. And that can only continue in an environment of trust. And I think individuals have a role in that, businesses have a role in that, and also governments have a role in that in ensuring that globally when we collaborate, when we share information in new ways, when we create information in new ways that we can trust that it will be used in an appropriate way. If that happens, I believe that we're gonna see a new wave of innovation that is going to change lives for so many. You asked a question at the start of this. How do you build the trust that's necessary? And I think trust is definitely something that's earned over time. But iteration could be an important mindset for building trust, let me explain. So technology innovation is usually the result of a lot of experimentation. Even a lot of failure, but what you learn from the failure and iteration eventually leads to a breakthrough. And I think that same mindset could be applied to regulation, which is a mindset of experimentation, pilots, trials, and some of those will be successful, some of them will not. Either way we will learn, and as we learn we will build trust. So I think there could be some parallels from the innovation process applied to that conversation about values and regulation. So it sounds like everybody's gonna have to have a little bit more faith to start building that trust. When you're talking about the government side. But it doesn't have to be blind faith, right? It's more what is the process that will build the trust, build the confidence over time. And if you could outline that process at the beginning, I think it would go a long ways. So just a building on that when you're talking about the importance of the environment that's created and that there's an inclusiveness or openness, are there certain countries that you, or parts of the world that you think will pull ahead in the next five years, 10 years, compared to others. Right now we see that the West tends to dominate a lot of the innovation. Do you think that there's going to be a shift? Or do you think it's still going to be dominated by a more Western ideology? Hopefully there's a shift. Hopefully everybody becomes the innovator. As innovation gets democratized, as the tools become less expensive, and the networks become tighter, that people around the world can be included in the process of innovation and collaborate together to achieve bigger things. Yeah, I agree with that. New efforts to bring internet access, for example, to Africa have the potential to dramatically raise the standard of living in that part of the world. And that actually raises the standard of living around the world because geopolitical stability is fundamental to economic growth everywhere. Yeah, I would support that the innovation will become a more globalized activity, giving the faster change in technology, giving the stronger and stronger network. All these technologies and tools will help the people around the world. Actually, we can view the global market as a single one. And you can actually, in any village in Africa, you can expect the people there working on some very innovative technologies and business model, and then that promoted that through the global network. So I would say there will be a more globalized approach for innovation. There's two levels. One is where does innovation occur, in which we do, as mentioned, both one and our aiming towards innovation everywhere. Tools, more people being able to innovate. There is also a related question that's come up a number of times at this event of building a global technology platform. And to what extent will global technology platforms be built outside of the West or Silicon Valley? And that piece is both where innovation occurs, as Ken talked about, and also the nature of the environment. So building a technology platform in a very local environment or a very closed environment is difficult to then become global. And so I think we will see innovation in many more places to actually have global technology platforms come from all parts of the world. I think depends on what those parts of the world, what their market is like. Is it a market that is living in an international setting, or is it a pretty local market and something that's really successful locally, getting into a global market is a different stage? Yeah, so I think, actually I'm confident on this. The current stage for China is we are using this market size or market consumption to exchange expertise from outside. And so for example, we set up a joint venture with Dreamworks in Shanghai, doing animation production. And so we brought a lot of expertise, experts with their expertise to China. And so you can see that there is a flow with this best practice transfer happening in China between two sides. And going forward, I think the local creativity will come up, will come up. And eventually the power base will be built in China. And I think that will take some time. And the important thing is, it's not about just some products, exportation or importation. It's just about how you can locally set up a long-term sustainable system to continue to create contents in the future. So I think that's quite important. Yeah, can I add something on the innovation landscape? I believe that the technological platform will provide us an equal support for the future innovation and make the innovation a more globalized approach. However, the landscape of the innovation will highly rely on the regulatory situation from country to country. So I believe that in the country where we can have more supportive regulatory situation, obviously the country will be in a more leading position in the future landscape. So I fully agree our future innovation. So the power will be more equal and also could be recovered, replicate the result of innovation across the world. Look at China's situation. Many graduate students, so they want to find a job. But in China, the first thing they want to do, whether they can have innovation to have entrepreneurship. So many executives in our company, their idea is that in the new era, want to have a startup company to have more innovation and entrepreneurship. So actually we have about 10,000 newly registered companies every day. So I believe this kind of innovation will be more inclusive and spread to every part of the world. And even maybe the emerging countries can be a big power of innovation and also the innovation in a certain area around the world. So normally it takes about 10 years or five years, but now about 10 months or five months could be rapidly localized and replicated. So the speed of innovation in future and also the horizontal influence will be very fast. Specifically, what kind of policy and investment needs to be in place to really encourage the entrepreneurial environment right now? Definitely we've heard already from the Chinese premier talking about the importance of innovation and there's been plenty of money that's put into it. What more do you want to see to make sure that the environment is conducive to getting all of those young entrepreneurs who you're talking about in a good place so that they can innovate? So I believe, so DD is about a three year old company. So we have around 8,000 R&B as the startups three years ago, three years later in China. So we are kind of 1.5 billion years old as a platform. So at the beginning, so it's difficult to imagine it could happen, but we have a lot of similar cases in China. Such a support, we need both hard conditions and also the software environment support for the hard infrastructures. So we have a lot of innovation bases, the software park, a lot of supportive policies and supportive services, including the talents. So we try to reduce the threshold of the innovation. So you need a lot of preparations about 10 years ago for innovation, a lot of limitations of the infrastructure. But now if you have an idea, you can get the fund very fast as well as the talents and also the corporations or partners like payment and the traffic is more and more mature. Secondly, it's our software environment. So we try to encourage innovation and also we can really allow them to fail. So this kind of innovation will change our future's culture. So we have a lot of successful cases in China, in our internet area, that really stimulate generations of the young people to be involved. I think another important input here is the right skills that the young people have skills, specifically in the science, technology, engineering and math backgrounds. And I think that's something that is done very well in China in terms of the absolute number of graduates and the relative percentage of graduates in these fields. But it's something that we certainly struggle with in the U.S. and elsewhere. And as we talk about having a bigger part of society participate in the innovation and we talk about how there isn't necessarily going to be enough jobs in the future, it really comes down to a question of, well, what skills do people have? Because there is a shortage of these science, technology and engineering math skills. And I think that's a good area of focus. You are nodding? Agreeing. So the other question, maybe it's related both again to Cheng Wei as well as to you Nathan, but you're both innovative businesses and who appear to be looking globally. So how do you transform yourself from an innovative business in one country and then globalizing? That almost happens instantaneously now. I think that's been a big change for the last maybe five or 10 years, which is the internet makes this all one planet. There's no difference between two people communicating over the internet inside the U.S. versus on the other side of the planet. And so quickly you see this business models and content and all being transported. And Airbnb's case specifically, we were international from day one and not because we had anybody focused on building out our international user base. It happened just simply because as we, as there was writing about us publicity, people around the world saw that. They started signing up on themselves. So very organically this globalization and internationalization is happening now. And that wasn't true before when there wasn't such good connections. So actually, so for quite a long time in the past, for China's companies, they serve as a more local Chinese customers. So China is a big country and also a very complicated market. So we already have a lot of challenges inside. So more is the Chinese companies serve the Chinese customer and the Western companies serve global customers. But we do see the trend recently like Huawei, like Lenovo, those Chinese science companies, they started to have a new position as international company like Lenovo. 70% of their businesses comes not only from China but from the whole world, which is the same true for Huawei. They have a lot of global R&D centers. So changing from their positioning, so they look at themselves as an international company in terms of the talents, the technology reserves and the business coverage. They are moving slowly to the global. So this is a trend for Chinese company for sure. We have a lot of acceleration in this area. And I'm thinking of mainly because when I look at e-commerce, for example, it seems as though there haven't been a lot of successful cases where an e-commerce company has been able to break out of their home country and then really succeed tremendously in another. There are some smaller, maybe some limited success. But I'm wondering, how do you, as an innovative company, you really doing well in your own country? How do you bring that model to another country and do really well? And that's why I was thinking about Airbnb. How do you come to say, for example, China and then really change the model so that you could do well? Is there any conversations that you had? Certainly, and then there are certain technical and business barriers, things like handling local payments. In the case of China, local social networking apps, local app stores, these are all things that require incremental work to support the native solution. I think the good news is so many companies are becoming more global that there are now intermediaries that are taking the complexity out of that and creating that connectivity so that not each company has to reinvent it, but there's an off the shelf solution that bridges these worlds together. I think with technology, there's often a first mover advantage and a lot of the global companies have come out of the US simply because the US was kind of a first mover on a lot of this internet innovation. But you see that, I think, quickly changing, which is as we democratize innovation, you see innovation happening elsewhere, and you see the cutting edge stuff now coming out of China or now India, I think you're gonna start seeing global companies that were originated from different countries is not all gonna be coming from the US anymore. Yeah, can I ask something about the, actually the proof is two questions about the innovation and globalization. And I'd like to share some of my thoughts on this topic. Actually, compared with the DD and the Airbnb, we focus more on the technological innovation because they're, I think, focus more on the business model innovation. In our operation, I think the innovation and the globalization are the two key considerations on the whole strategy. Actually, for Huawei, there are three stages of our growth. But for the first stage, we are a purely China-based company. And for the second stage, we became a international company headquartered in China. We export our products and the service and even human resource to the rest of the world and collect the money back. And now we globalized our operation more and now we view that we are a global company. And in this process, you need to have a, firstly, you need to have a totally new mentality on your global operation. You need to view the global market as a single one. And you need to view all the places that you're gonna have the best Italian people in all the possible cities around the world. And you're gonna distribute your products and the service, and particularly to develop your technology in any possible places in the world. And secondly, you need to have some fresh mindset in your daily operation. Firstly, you have to identify the best people around the world and to build up your facility of research and development. You cannot just get them to China. You have to get close to the Italian people. Then, so as a result, we have already built up a global research and development network. We have around 30 R&D institutions around the world distributed in Europe, in United States, in Africa, in India, in China. And from the human resource perspective, you need to have a global view as well. You need to give all the employees in your organization the equal opportunity to let them create the value, to let them realize their dream. So from that end, you actually need to make the whole organization in the highway like a global platform to let all the people who really want to do something great, who really want to change the world, to join you and work here and then to share the benefits. So we call that as a mindset of the globalization. You need to have a global view, but you need to localize your operation in any of the markets, where you deliver your service, where you conduct your research and development activities. The company that I lead was thrust into a potentially relevant learning on this front. We were forced to start as a global company because when you operate satellites that are quite costly and are circling the earth, by definition it's a global business from day one. You need to be global to make the numbers work. I think what we've learned is that by starting to think globally day one, the chances of success in a world where network effects and first mover advantage and globalization are so important, I believe is an important success factor. So didn't learn it on purpose, but we have learned it and I think it's relevant for many of the global growth companies that are here at World Economic Forum. How do you think funding innovation will change in the future? Do you think it's going to be mainly through VCs or do you think that there are gonna be new sources of capital, new ways to fund? What do you think? Well, there are new sources of capital and this may be a controversial comment, but I think that some of the valuations that we're seeing actually may have unpredictable consequences because ultimately economics haven't changed. You need revenue and profit and growth. All are part of a formula that ultimately creates economic value. So I think we need to pay attention to what's happening in capital markets. We also have to look through that to the fundamentals of the businesses that many here in this room are investing in. I think what's become clear is there's no shortage of money for good ideas. And so as there's more innovation, I think the funding will materialize. I think what you're seeing is there aren't as many places where you can invest your money and get a good return. And so you have a lot of different types of investors who have money, who are looking for a way to maximize return. And I don't know exactly what that will look like, but I think it's being driven by this desire to find returns. And a lot of it is going to come from the innovation that's going to happen. Yeah, I think although the recently the stock market become quite volatile, I mean the funding for the startup company in China is still very active. And the reason is you can still can, you can see the confidence for the innovation and for the creativity for the future. And one thing I can see in this market is there will be more and more cross-bord investments. Looking at this technology wise and also some other new application wise. So for example, recently we look at a company in US doing VR technology, virtual reality technology. The reason is because we see this technology will be another big change, game changer for the future. And for the whole media entertainment industry, that's a emerging technology. So we invest into that company, then we use this market for them to practice to test the market in this country. And eventually both sides, the people can work together to come up with the new applications for both market. So those kind of models, patterns, I think going forward will happen continually. What do you think the source of the next disruption will be? Data. Data. There is an unbelievable wave of data that's being created that combined with storage, cost coming down and availability of inexpensive computing power. The combination of those three is going to unleash all sorts of insights, all sorts of game changing products. And that's exciting. Yeah, I believe that's artificial intelligence, which is also based on the data. And for the artificial, I think the artificial intelligence will help us to make the world more intelligent, smarter and more efficient. And in order to achieve the artificial intelligence, because we already had a lot of discussion and demo here in summer hours for the artificial intelligence, we will need to have a lot of innovation in big data storage and analytics. And we also need to do a lot of innovation in the related technology areas like the communication technology, like the sensing technology. But I'm pretty sure that that will be the next big disruption. I think. There's also disruption coming in physical things. And in the production and creation and distribution of physical items as we learn just as the internet moves data around and makes it global, we're learning how to build and print and make devices more locally as well. And I think we've had a big centralization, industrial revolution centralized techniques for creating things and not as quickly as data, but not too far after, we'll start to see those effects happen in physical things as well. So you're talking about the manufacturing part as well as the physical products? Yes. I mean, to build off the manufacturing part, I think 3D printing is super exciting because it's going to allow complex systems, like an increase in the complexity of things that are being built. It's going to allow that to happen faster and ultimately that will mean cheaper. It's going to allow for more iterating and experimentation. And I think already there's incredible things being done. You know, Elon Musk is 3D printing a rocket engine. I mean, that's insane. Normally a rocket engine would require so many different individual components that would have to be handmade and put together very precisely. Now, you know, you can just 3D print this thing over and over again. It's incredible. 3D printing of heart monitoring equipment as well. And also the distribution channels may change pretty dramatically as well. I agree that at a technical level, we have many breakthroughs like big data, artificial intelligence and gene technologies. We also note that from the previous ownership technology, and we all work for the ownership of something, like a car, a house or something else. Now we are moving to a new era, and we are faced with some bottleneck, and we are moving to a shared economy. Individual ownership is not possible for everyone. And such ownership will result in constraints of resources. So we are promoting from the ownership shift to a shared ownership, like the DD Taxi Hailing app. We hope that with the internet technology, with the shared economy, and we can reorganize the resources by the better caring of the customers at the terminals, we can provide you a better consumer experience, even better than the ownership experience. We know that in the recent period of time, the vehicle plate numbers are restricted on certain days. But we have less traffic and better traffic conditions, although some of the cars are restricted to be on the road, and many people have the couple and other ways to solve the mobility request. Yes, I agree, I mean the shared economy and also the super connectivity would change the life of human beings for a long run. And I think especially for this country, I think because of internet, especially this social internet will significantly change the organization of the whole society, and to mobilize the more resources, much more efficient than before. So that will be a big change going forward. Is there any one industry that looks as though it's poised for upheaval more so than any other, just because there hasn't been a big change in that industry, from your perspective? I think automotive is the one that stands out. Which one? Automotive, by the time we get to the place where we have self-driving cars that have gone mainstream, I think that will turn a lot of things upside down and create amazing opportunities to reclaim road space and to decrease congestion and decrease pollution. But that's just gonna be a huge societal shift. And there's many players who have invested heavily into infrastructure and into automotive, and that's just gonna be different at some point in the future. I think he spoke what I want to speak. And it seems that we don't need to share the kitchen with someone else. We don't need to share our clothes with someone else. You know, share your clothes with someone naked. But we can share something public. For example, the vehicle sharing. It's not the cost of the manufacturing of automobiles. It's too big, too high. However, because then the road in the cities were initially designed not for so many people. And we also see the car plate restriction or even the restriction to the purchase and ownership of the automobiles with some car parking fees and other aspects. But the essential thing is to experience a better service, provided by the third party, better than your own self. So that will decrease the incentives to own a car or other activities. It's not necessary to 100% ownership of a vehicle for only 50% of the usage. And when you drive, you don't do anything else. And when you have the chauffeur service, you can continue your activity on other aspects. For example, telephone making or other business handling. So that is the upcoming shared economy. The health industry is poised for immense changes with personalized medicine, data collection, ability for each one of us to actually get more information without needing to go to the doctor, the range of devices and understanding, not to mention gene therapy. So that has a highly regulatory component that's also very local, which will be under stress as well. But hopefully within our lifetimes, the nature of healthcare and how we understand ourselves will be radically different. Yeah, my point is that actually, I'm from the ICT industry. I always believed that the first innovative sense should be having here in our industry because we are enabled for everything, for any of the innovation of technologies and business model. So we will provide the super fast network in the next couple of years to enable thousands of billions of connections. And beyond that, we're going to provide the super computing capability running on the cloud base. And we're going to provide a variety of formats of devices, not just a smartphone, but a lot of format of device with much, much stronger function and probably lower cost. I don't know if it's the industry that will experience greatest change, but the one that I'm most optimistic about benefiting from a lot of what's going on is education. And it's fundamental because if we can educate our children around the globe using these new technologies, it becomes a self-reinforcing, very positive cycle that really does make the world a better place. Yeah, for my business, I think everything can be changed because of the new technology, but one thing is still will be long-term sustainable, which is imagination, people's imagination. Well, okay, so we know there's going to be a disruption in the automotive industry, healthcare, education, and behind it all is going to be Huawei making all the changes with the cloud computing and everything else. So just looking forward, I wanted to ask all of you if your daughter, son, if a friend of yours came over and then they introduced you to their 12-year-old and the 12-year-old said to you, I really want to be in your industry. What do I need to do to prepare myself? How would you position them? What advice would you give to them about the future? Should they be in your industry? Should they not be in your industry? Should they be in the ICT part of the industry or should they be in the mobile part? Should they decide, no, I'm not gonna do, it's not good for me to be in imaging. What do you think is actually the future in your own industry? What would you tell them? Well, you mentioned the age 12. I mean, I think that is kind of the right age to target. Me, myself, I learned how to code starting at the age of 12 and so I think never underestimate the potential of a young person and their appetite to learn. It's just a question of how to engage them but increasingly because of the internet and the connectivity, all that educational material is available and hopefully we can have some innovative models for further engaging a broader audience into this but I think once you have them engaged, it's a lesson in making sure that a young person is always challenging themselves, always learning and there was an idea the other day that was tossed out which is why does most education end at the age of 21 or 22? I mean, why is it they're a lifelong learning and maybe that's one way in which education will be disrupted but I think we all have to retrain ourselves and realize that things aren't gonna stand still anymore. Things are gonna move faster and faster and so we need to get out of our comfort zone and get in the mindset of constantly learning. I don't know what advice to give about 20 years from now, what skills will be relevant. I do know it's gonna change a lot between now and then and the only thing I could say right now is develop a mindset of always, always learning. In addition to learning, I think another important skill that will last a lifetime is how to work with other people from diverse backgrounds because in this collaborative economy, this collaborative technology that's creating and the breakdown of boundaries, the ability to work with people from different parts of the world, different backgrounds, different religions is gonna be so important for today's young people. And I would add to that. I think for the 12 year old daughter, there's an additional, well, there's just an additional problem which is somehow or other she needs to be able to be the only girl or woman in her setting and function. Like that needs to change, but if you ask me today, it hasn't changed. And so there's learning to work with diversity but for the daughters and the women, it's how to be the only one or maybe there's two of you and how not to be the aggressive or two, whatever it is. And so there is a layer of figuring out, like there's a practice layer for daughters of being the only girl, being the only woman, like figuring out how to make it work. And that's something that we don't teach and I think the standard diversity of teams has a little ways to go on that one. And so that, thank you. But anyway, so those are not things that like a 12 or 13 year old typically does is find the group that's not like you that is not maybe adjusting to meet you and figure out how to be successful in it or what kind of changes you need. And then you can actually build a really diverse and broader, more inclusive setting. Yeah, that might be a good topic for my conversation with my daughters over the weekend. Actually, they are a enthusiastic consumer of the digital media. They are a big fan of Airbnb and DD. But if they're going to work in my industry and I say industry, I would suggest that. Yeah, probably all your friends are going to be working in a innovative company or in a disruptive company like DD, like Airbnb, but I would encourage you to be the enabler of the disruptor. Cause the ICT in this is actually at the position as the enabler for all the disruption. But in order to be an enabler, you have to firstly to keep a open mind. You have to be curious enough to learn what is happening in all industries. And particularly, you need to put yourself into the shoes of the different industries and to learn what the consumer really wants and to learn what are the real value you can create together with your industry partners for the consumers. So you need to be very open. You need to be good at learning. And I think that's the key in the capabilities they need to have. Yes, actually I do agree. I mean, if I would give the kind of instruction to younger generation, younger people, I think keep hungry, keep a heart of curiosity would be very important for their future career. And because currently in this world, I mean the speed of change is much quicker than expected. So just keep your heart open, keep the correct curiosity. That's the, maybe the smart way to keep moving. Did you want to win? If for 12 year old to get into my business to give him suggestions first, I congratulate him. He did not need to take a driver license test. Secondly, and he does not need to consider he has to have a car in the future. Oh no, he should have a car and he would like to share with other people together. This share economy will get into his blood. And if he wants to get into my business, 12 years is too young. I believe a 12 year old should try to learn more and to be open, to be curious and to understand a diversified culture. And when it's time for him to select his career and he should try to achieve his dream. First he understand what his dream is and then stick to it and then try to realize that. For the next generation that you have to make sure that you keep learning, that you're curious, that you're open, that you're flexible, that you move fast, that, or you could be the very clever one behind all the disruptors who's powering it all. So anyway, I just wanted to say thank you so much for all your time and your insights and for wrapping everything up today. And I want to thank all of you for staying as well. Thank you very much.