 Usually, I end up not standing on the podium. I have fallen off the podium before because I have the habit of pacing while I present. And pretty much most of the subjects I get excited about and I forget that I'm on a podium. This one is going to be tricky and let me see if I can maneuver this. First of all, thank you media evolution for this opportunity. I speak to industry audiences where when I look around the room like this, about 70, 80% of the people are people I've known before in the last 10, 12 years. I've seen them before. Here, most of you, I just met in the last couple of days, so it's wonderful. Being that it is in the afternoon and our attention span is probably not the same as it was this morning during Ben's talk. With your permission, I have a request. Those that are interested are welcome to stand up for a second and stretch yourself a little bit and hopefully this will help. When Martin said I have 15 minutes to give the stock, I was thinking to myself, if he said I have three hours, this is not a problem. 15 minutes is very hard and following these two guys is even harder because they're talking about future trends, right? I love what they said because I'm a marketing guy and this provides me the input roadmap for our research development team to go build these products. Now, if I brought either of these guys to e-ink and had them present to our technology team, we'll have a few heart attacks because what they talked about is the kind of dreams that we need to have to create new technologies. But if you're responsible for building those darn things, that's a very different story. And I'll explain to you in part of my presentation. I'm going to try and focus on two different things. The first one is going to talk about a certain type of media change. We talk about evolution, right? I'm going to talk about a revolution, something that's already starting and hopefully we'll all take benefit of it. To keep it somewhat narrow rather than talk about transparent screens, the OLED screens, the LEDs on so forth, I'll focus mostly on electronic paper, which is somewhat easy because we pretty much make most of it. This is the kind of product that e-ink makes. We make electronic displays that are typically used in the Amazon Kindle, the Bonson Noble Nook that I have in my hand, whole host of other e-reader type devices. And since I'm one of the officers of the company, unfortunately, I have to present that slide, which basically says don't go trade on our company stock based on what I'm going to tell you because next year I won't be here because I will be fired. Please don't fire me. I can fire myself. I have that talent. This is a movie, Steven Spielberg's movie, Minority Report. I'm sure some of you watched it. So from a few years ago, inspiration for this movie came from e-ink. Spielberg sent his people to e-ink and they saw something that created this movie. Let me see if I can play this for you to give you the context. You can see in this movie they have a piece of paper where the content is changing. You see right there? It looks like a regular sheet of paper except the content is changing. That was the dream behind creating this. We are an MIT spin off and the idea was to create electronic paper. But if I look around this room, today most of you have some kind of electronic device, a lot of tablets, but what we were trying to do was to replace that printed paper. Almost every one of you have more printed paper than you even have electronic devices. When we talk about displays, the number one display in the world is not LCD. It is printed paper. And the fact that you're all using printed paper means this dream has not been realized yet. Why not? It takes a long time and here's why. This writing has been around for a long, long time. We talk about tablets today most probably you're referring to the iPad. In previous days, before iPad and some of the other tablets, tablets meant these clay tablets. That's what was the revolutionary thing 5,000 years ago. Followed by paper that came around 2,000 years ago. And the printed paper that we know of today was invented 500 years ago. And when E-ink formed the company to build this thing, nobody was complaining about paper. Even today, nobody's complaining about paper. Paper is a wonderful thing. So when you go into a market where you're trying to replace something that's been around for 500 years and people love it, it's very hard. I know this because this is my job to see if I can convince people to change. We came up with this technology for electronic paper, what you just saw, about five years ago. In the past, I would say we are almost mimicking paper. Now I'll say this is better than newspaper and better than paperback books. Probably not as good as glossy brochure type paper. We're getting there. This is the concept. But why is it so hard for us to change our reading behavior from books? Why is it so hard? So I've been looking at this for the last four or five years. Here are some things that I found. We love books. I have two shelves of books in my home. I will never get rid of them. It's sentimental. I don't read them. I have books from my engineering school. Gosh, that was a long time ago. But I will never throw them away. We need them. Sorry, it skipped one. They're very resilient. The image on the left, I don't know how well you can see it, is an image of what they imagined the Alexandria Library to be. This was in BC. Not that different from our current library because they had scrolls. We have books, but they were always in some really magnificent, beautiful-looking structure. And then the other image is a homage to having burnt books during the war. And you can kill books. They kind of stick around. They're very resilient. These libraries are magnificent, aren't they? I didn't realize that for the last two, three years, I've been using an image that I didn't realize was from right here in Malma. The image on the left-side bottom corner of my slide is the Malma City Library. And even for those of us who don't live here, I think it's an awesome, beautiful-looking library. And the one in the middle is the Harvard Library, not far from where E. Inc. is. One in the bottom is from Austria. One on the top is a library of Congress and so on and so forth. But what is happening to these libraries? You can do research everywhere except for some pockets like China and India and places like that. In general, in the developed world, libraries are on a decline. There are statistics all over. And show of hands, how many of you went to a library in the last one month? You're terrible. Of those, yes, of those of you that went to a library, how many of you actually borrowed a book? Okay, slightly fewer hands, but still a lot of hands. Now, when I do this kind of survey in different audiences, it's amazing to see how few people go to libraries. Pretty much in the U.S., it'll be half of the number of hands that went up here. I have been surveying libraries now for a few years. I even send my staff to all the libraries in their town so they can go in and see who's using library, why they're using and so on. In the U.S., our libraries are full. People don't borrow books. They're looking for free internet to look for jobs. The number one complaint to the librarians is, we don't have enough computers. Not that we don't have enough books because nobody is touching them. I'm sure it is the same here. Our elementary school kids are researching homework and reference material on the internet. They don't say, hey, I have this new homework. I have to now go to the library and borrow a book. That has changed. And the stat I have here, the 50% of the British population haven't visited a library in a year. Clearly, they're different from the folks here. This is the U.S. trend for reference inquiries in research libraries. And you can see the trend is on a decline. What is fascinating is, at the bottom of that curve, ePaper has still not been invented. So don't blame us. It's a trend that started causing some of these changes. So where does this leave us? So I'll tell you the story about two libraries. So the one on the left, traditional. One on the right is the eReader, similar to what I showed you. So both can have thousands of books. And there are low recurring costs pretty much on both because you can get 2 million free books on Google, for example. A whole bunch of other projects that give you a lot of free stuff. But to build a library, in the U.S., it's roughly 1 million U.S. dollars to build it. Probably another million dollars to populate it with books. I could potentially give you a device like this. Most of these things are about 100 U.S. dollars. And I can put thousands of free books on it. Right here. And pretty much your mama city library can be open in Mumbai or Manila, Munich and other places. Any other cities that start with an M. So then we are sort of redefining, aren't we? When you look at these devices, these are some of the popular eReader devices. Probably true here in Europe as well as elsewhere. They are now all new libraries. For some of the reasons that I explained previously. What's happening is you can actually borrow books from your traditional library through one of these devices. And then these libraries are now beginning to go to school. That's a picture of an actual classroom in Russia where there are electronic devices being deployed. These students have access to a library which is not a couple of blocks away, but it's right there at the desk. They have access to a lot of information. We are not seeing this in the developed world as much. It's amazing where this interest is. An average textbook in the U.S. costs about 80 dollars. Somebody's making money. So there's not a lot of pull. We don't get a lot of pull in Europe either. But you go to India, China, Africa, the amount of interest in creating these kind of electronic technologies is pretty tremendous. So after banging our head for two years trying to convince the education sector in Europe and in the U.S., we just said, we'll go empower the guys who want to be empowered. Those that are hungry. Let me show you an example of what is actually happening there. So let me first give you a quote that comes from a school teacher in Nepal in the foothills of the Himalayas. He says, we are too poor to afford education. But until we have education, we'll always be poor. It's so true, isn't it? World Reader, one of the charitable type organizations created this video. I'll play part of it just to give you an idea of what they're doing. There is very much interest in the e-reader. It's good to help every child in the class, especially in reading. Much afraid, but he did not show it. Very patient, he said. The children are on holiday. Kwame and Ifua are at home. Kwame listened to some music on the radio. Ifua read a book. You can see improvement of speed in less than five months. And there are other examples. I'm not going to go through all of them to keep it in my time slot. But the change this is creating is absolutely amazing. And for us, particularly with these reflective type display technologies, it's wonderful because these kids are taking it outdoors. Now you try to do that with your tablet or mobile phone. It's pretty hard. Every now and then you see somebody seeking shade outside because your phone screen is not readable. That's the kind of things I think we're coming to expect as society from our display technologies. Let me come back to the screen that I showed you earlier. It's not there, right? But I will tell you what is in the lab. I'll show you products. None of these are gimmicks. They are real products that I'm going to show you. But they're not there in the market yet. And to give you an idea, I can literally coat that entire wall with the e-Inx electrophoretic material. I can make that entire wall change images. But why isn't it happening? To cover that wall, it will be several million dollars. That's why it's not happening. So our challenge is to try to convert these technologies, process improvements, get the cost down to a point where it's affordable. Kind of like these devices, when they started, they were 500 US dollars. You can get them for less than 100 bucks and make it much more affordable. Let me show you some of the things that we have actually created. Here is a product that was created with a sheet of plastic. It's a real display. You can see the progress we've made. People often ask, why can't you make a scroll? We can absolutely make a scroll. But scrolls disappeared long time ago before any electronic display came about. There's a reason they're not just practical. But when we actually went and built this, we found some very interesting challenges. We put a touch screen and the very first person that pushed, she had long fingernails and she stuck her finger through the display. Ouch! That's a million dollars right there. It is. These things are very, very expensive to build. We spent 200 million dollars getting this technology to the market. To give you an idea on these devices, we talk about how little time these days it takes time to get something in the market. Five years ago, we were doing a million dollars in revenue in the e-reader space. Last year, we did well over 100 million US dollars in a single month. Pretty much every month, we exceeded a billion dollars last year. That's kind of the growth we've seen in this space. Here's another product we built. For those of you familiar with the Dupont's Tyvek material, it's the material that's used on the sides of homes for protection, that sort of thing. Or on the FedEx or DHL envelope. We can literally code that and make a display out of it. Then what about ordinary paper? We worked with this company, Topon in Japan. They gave us a piece of paper. It's nothing special. We coded that material on the left as a connector to run images on it, which is why I say we can put that on a brick wall and make the same thing. Let me show you something which probably, if Kate Hartman is here, she'll probably think it's wonderful, except I hope she wouldn't have one of her students call us. These things are very expensive for us to ship to students. We actually coded a sheet of fabric, a piece of cloth, and we can make a display out of it. So the reason I'm showing you some of these images are, none of these products are in the market yet. I will show you a product that is in the market just recently released, which I think is pretty cool. But this is the direction it's going. Some of the trends that Venkat talked about, Dan talked about, will all happen. We've already built some of these things in the lab. The science exists, but we don't know how to manufacture it in a cost-effective manner. But we'll get there. I don't know when, but as a marketing person, I make a lot of predictions, and I tend to be wrong at least 50% of the time. So this one I won't predict. But there is one prediction I will make. I think every single school, everywhere in the world, will have electronic books replacing traditional books. Every single place. Exactly when that will happen, I don't know. It's not that easy for the reasons I explained. People make a lot of money in the traditional market today. Traditional books don't make sense anymore. Now, for most of us, we will never give up our traditional books. I don't think, some of us probably will. Kids don't care. They don't see the difference between books and traditional books versus electronic versions of them. So let me give you an example of a product that was just launched fairly recently and also give you a sense for where these technologies are going. So the largest display factory in the world is owned by Sharp. It's the Sakai factory in Japan. Before E-Ink, I was responsible for building a product. It was the largest display in the world. It's a 108-inch diagonal display. It's built on a mother glass about 10 feet by 10 feet. And let me tell you something. You can ship it because it's very thin and you have to pack it on either side. It's like shipping a Toyota truck. Not practical. So they cut it. That's why you don't see 100-inch displays. You see smaller, maybe 65, 70 inches, what they're able to pack. Those things still look like a little Toyota car. And the technology that is emerging, which is going to be very fascinating, is when I went to E-Ink, I was very proud that at Sharp, I was part of this world's largest factory. I'm very proud. The E-Ink guy said something very interesting to me. They said, our display is only about that wide or we can go one kilometer long. So let me show you how this is actually made. So this is a real product, the E-Ink display. We make it in a roll-to-roll process. I took a roll. I had my team go close to MIT. We are an MIT spin-off. And this is by the Charles River in Boston. You can see some of the Boston skyline. And we took a forklift, lifted the material up and unfolded. That's a real display. So technically, I can take that display and wrap this room around and I can light it. It's not going to be inexpensive because the display technology exists. The electronic drivers to drive that distance is not easy. A lot of current is required and a lot of technologies need to be improved. That's the direction they're going. So you can imagine the kind of scale. Look at that. It's pretty amazing. And that's not the largest we can make even larger display. Finally, I'll show you a product. We've been talking about dreaming off. Finally, we have it. So this is a latest e-book from a company called Wexler. It uses the E-Ink display. The difference is it's all plastic. So all the displays we've had before, they were made of glass. So today, I'm very happy if there's a volunteer that wants to give me one of your tablets. You can do that. You can do this. Why do you need that? I mean, how often are we dropping these damn things? We don't really drop them that often. I'll tell you somebody that will drop it within five minutes after you give it to them. They're called kids. So I handed over about 300 e-readers to a school district in Massachusetts to get feedback from kids. As we were handing them, they were dropping them. That's when these things become very important. If there are volunteers, I'm happy to take your tablet and drop it. We also have another portion of our company that licenses a technology called FFS where pretty much 80% of all the world's tablet devices uses our technology. So I can guarantee your display on the tablet will break. And that is the beauty of this. This is how far we've gotten. But it is slightly flexible. It's not like paper. Why do we need to have something like paper? Today, you don't sort of read a piece of paper which is kind of floppy. You actually stiffen it and read it. The whole idea is that's a form that paper is available. It doesn't mean it's the most desirable form. Idea is to build something that is shadow proof that there's no glass to break and you can give it to kids. They can treat it just like regular books and take away another disadvantage of electronic technology, but there's a tremendous advantage. In my hands is a library. I can put a few thousand books and give it to a child anywhere in the world and they will have more access than the children that are in Boston or Malmoor somewhere else. That's the beauty of this technology. That's how far we've gotten. Thank you very much.