 My name is Gerhard Leonhard, I'm from Germany originally. Don't hold it against me. I live in Switzerland right now, but I lived in America for 17 years, where I was a musician, producer, and internet entrepreneur. How weird that sounds to you. So if I speak too fast by American habit, please just wave, okay? So I'm on Twitter, gLeonhard, if you are tweeting, then feel free to ask me questions. I have a hashtag called AskGerd, G-E-R-D, where I can, I take questions, there you can ask questions anytime, not what I'm speaking, but later. So, whoop, I have to put this in as well here. Make sure it's as flawless as it should be. Many of you don't know what a future is, there's in fact, it's kind of a strange job, right? People think of futurists as Nostradamus, or Ray Quartzweil, or Paul Seffo. But that's not really what I do, I deal with four sides. And there's a Chinese saying that says, if you want to know about the future, ask your children. That's basically what I do. So there's a lot of things that are really obvious, it's just that when you're operating a company, and you're moving at high speed, you don't have time to think about what's gonna happen in three years, right? You've already bought three days, or three weeks. And that is usually a problem why companies get killed. And I have many examples of this, because you're looking at what's really right in front of you, but not beyond the obvious. If you only look at the obvious, there would be no iPad today. Steve Jobs decided by himself, the benevolent tyrant that he was, rest in peace, that the iPad and the touchscreen was the future. He didn't listen to market research. In fact, he hated focus groups. Jeff Bezos, the founder of Amazon, did not ask a lot of people about the Kindle, because people didn't know what a Kindle was. If Henry Ford had asked people what they wanted, they would have said, we want faster horses. He built cars. So you have to go beyond the obvious if you're gonna live tomorrow, and this is kind of a really tough challenge. Otherwise, you always prolong the obvious. My company, the Futures Agency, advises several hundred companies on future strategies, including technology companies, telcos, publishers, and so on. We'll quick about you. I would like to know from the audience today who is actually Twittering, who is on Twitter. Let me see if I have some hand signs, okay. Well, that's pretty good. I don't have to ask who's on Facebook because it's like asking you if you go to the bathroom. And everybody has a smartphone, right? Everybody has a smartphone, and I tell them, I don't have to ask that, you guys are clueless. Very good. Okay, that's a very good start. You're already somewhat ready for the future, right? Welcome to the Network Society, right? There's a great meme playing out. They said, our society is becoming truly networked, interconnected. That's a huge difference. It's not just the kids who are doing this. I mean, in fact, now the biggest growth in Facebook and LinkedIn or so is not the kids. It's the 30 to 55 year old. And tablets are a favorite thing for old people and for very young people as well. So I bet you that if you go to a meeting today or tomorrow, many of you may be going to LinkedIn to check out who you're going to meet, right? Check out their profile. If you're on a phone call with somebody or by the deal, you go to LinkedIn and check out his profile, right? I mean, everybody does that. So now we're becoming a networked society and if your business model is based on not being networked on being what it used to be, which is disconnected, then you're going to die. I mean, the consequence of that is quite obvious that if the business model stays with what we used to have, you know, this is going to be a major issue. We're living now in a time of network news and media. Look at all the success stories, right? Huffington Post, a blog, took over AOL. I mean, write a blog, take over major media company. The Economist, Flipboard, Quarantz Magazine just launched last week, The Washington Post. I mean, apps, all kinds of business ideas will become a truly network as a media world. And so there's a lot of challenges coming out of this. For example, you know, as a bottom line, the value of online media, for example, if you put all the music or all films online, you sold them, you would get one-tenth of the value of traditional media. In other words, if you would not want people to download music for free, how would you do that? You make the price one-tenth of the physical price. Not one euro, but 10 cents. I mean, would anybody bother downloading a song for free or getting it on YouTube for that matter if it was 10 cents? But can you do that? I mean, this is a real challenge, of course, to the big studios, the big publishers. How do you do that? I mean, advertising on the internet right now, it's worth less than one-tenth of print. But that will change. You know, the question, of course, is when? And how do we survive in the meantime? But I would suggest to you that we're moving into a network society, into a situation of network media and network business. I call this in my first book in 2005, the shift from the network, you know, CBS, Fox, NBC, large companies, to the networked. Today, you don't want to be a network. You can be a network, it's possible. You know, Apple is a cult, a cartel, you could say. You know, I'm an Apple fan, but still it's a walled garden, right? But the future's gonna be about being networked. All of the success is there with Facebook and Twitter and YouTube and Huff and Pose and The Guardian and NPR, and, you know, the story goes on. It's about network media. The reason that I watch CNN today is because they use social media. Twitter and Facebook and Skype is part of CNN now. That's how they keep up the track. It takes 23 seconds to get the news on Twitter. Takes 43 minutes to get the news on television. Of course, it's not the same, right? Different kind of news, of course. But that's a dramatic difference. So now we're living in a world where our kids are getting used to this, right? They're getting used to using those devices. You know, kids are really great with touch screens, of course, because now you can paint on them even. Imagine what happens when you can speak to them, which is what's happening now with Siri, right? I mean, this sounds like science fiction, but give a kid that's used to this a magazine and you know what these kids will try to do? They will try to zoom the page, right? Because they're used to zooming on the iPad, they imagine everything else can be zoomed, right? I mean, if that is a consumer of tomorrow, then you could say, if it can't be zoomed, then you don't exist, right? 3D augmented reality on the mobile, 3D displays. Dutch company called Layer, which is a really great company, makes it possible to connect a magazine with digital media through a tag, right? All you have to do is hold up the camera and it picks up the icon and gives you digital media on top of the text, right? This is a saving grace, of course, for newspapers. Imagine this, right? Imagine I can read a New York Times article, hold my mobile phone over it and see the video of the guy mentioned in the article. I mean, that's a huge shift. So we're talking about technology innovations, habit changes, and business model changes, right? Business models don't change because somebody has a cool gadget. The business model did not change because of the iPhone, but because of the result of the habit changes of the iPhone. In Japan, you can go to a dating place, you can hold up your phone over the face of the person that you're dating and you'll see their social network profile superimposed over the image. And that's okay in Japan, but in Europe, you know, I don't know about you, but, you know, what strikes us is very strange, right? But these are cultural things that are changing truly. And Bouner-Lautour, a French future, says, if you change the instruments, you will change the entire social theory. And that's what's happening now. If you're looking at the future of your business, you have to look at how this is changing, right? How the social theory and the business theory, the business model, the logic is changing. And there have been many that said, you know, we don't really appreciate this like the music business, right? We don't give a damn about what they're changing. We want to do it like this, right? Of course, good luck with that, right? I'll have some slides on that later. But I think you're very lucky now because your business, obviously, judging by the conversation this morning, is going from the water glass into the fishbowl, right? Into a much larger story. Challenge being, of course, when you're used to a nice water glass where it's just you, in this fishbowl, there'll be sharks, right? There'll be other animals, right? So this animal is called social local mobile. And this was a meme invented by Kleiner Perkins, lead investor in Facebook. They said years ago in various presentations that the world is moving towards socially connected through the web, of course, and otherwise, local services, local added values and all these kind of things, social services like Foursquare and others, and of course, mobile. I mean, there are projections saying that about 80% of the entire internet traffic in five years will be on mobile devices. I mean, this is, it sounds kind of like saying, you can be on Star Trek and beam down somewhere or something, right? But imagine this, right? Imagine what happens with your customers if they can't look at your data on a mobile device. Imagine if you can't get inside of the apps because the apps, right? How you're gonna get their data, right? So that's a huge shift coming up. Solar more everywhere. And look at the numbers from America here. Just a year ago, that's in a year ago, more Americans get their online, get their news from online and mobile than from television. Will that happen here in Poland, other countries? Well, of course, it's a largely cultural questions, but content that people buy on tablet devices, I mean, three years there will be not a person left without a tablet. And I'm not talking about the iPad, right? I mean, you can buy a tablet in India called the Arakash for $30. So is it possible to make a 10 euro tablet? It is. In fact, I'll tell you, Amazon Kindle will be free because once we buy enough books, you know, the $6 that a Kindle costs and just give it away, right? I mean, that's gonna be our future. So what will happen here when you can swap houses on Airbnb, which is a new website where you can connect with others to rent stuff to each other when CEOs go on the internet and get social, which is 57% in three years, will be part of their social environment. When you can get coupons on your new iPhone, the iPhone 5, right? You can get actually connect in a real life location with coupons and offers from the brands that you like. This is all going to change landscape like target. When doctors are using the internet to remotely diagnose people, when you can wear an app that sends your medical data to the doctor and he can see it on his screen no matter where you are. I mean, these changes will be huge. Four years ago, Zuck, Mark Zuckerberg from Facebook, I hope you didn't buy Facebook stock, you know, by the way, but if you did, you know, just hold on, I think it won't be as, you know, I won't never get to 44 while, but it's actually not doing so bad. Now, he said already we have the most powerful distribution mechanism that has been invented in the generation, and that was four years ago. And we have a billion people on Facebook today. Facebook is a broadcaster. And you know what they're broadcasting is us. We are the program of Facebook. Some people say, of course, that we are the perpetual reality show on Facebook, exhibiting ourselves. But that's what's happening, right? And Facebook is becoming the broadcasting system of the future. So monitoring media without Facebook will be like saying you don't want to know what search is and deal with Google. You could say what you want about Facebook, about all the difficulties of privacy and stock market valuation and all that stuff. But they are the next infrastructure for how we communicate. You've seen all the depressing numbers about newspaper decline and one advisor would have for you judging from the conversation this morning, don't get too attached to those guys. The magazine's newspaper publishes because the future will be, of course, ultimately nothing like it is today. More people saying they want to be on Facebook than watch television. People wake up in the middle of the night to make an update to Facebook. I don't know why, but they're doing that, right? So here's the problem. Newspapers had a fantastic ARPU, Apple's revenue per user. Compared to the other guys, Guardian, Twitter, Facebook, LinkedIn, because obviously they had a monopoly on the tension. In many countries, including, of course, in Poland and Eastern Europe, newspapers are still very, very important and big. It's a mass audience. So the ARPU is huge, but here's the key question. This is a toxic assumption, what I call a false assumption, the past will not be the future. This kind of relationship of having this kind of lead and having this guaranteed money will not last and hasn't lasted, it won't come back. It was a good time. Like the record labels sold CDs to all of us, they made $40 billion a year doing very little because the music already existed. That doesn't mean we're gonna have the same situation in the future. So we have to think about, maybe this was just history. Maybe there's a whole new thing coming. Good friend of mine, Ross Dawson, from Australia is also a futurist. You can look this up at futureexploration.net. He has a fantastic chart. You can download this from his website. He talked about the newscape of tomorrow. And what's happening here is that newspapers and curators and journalists and professionals will gain from this thing. They won't lose because what they need to create is added values around the news. Relevance, timeliness, personalization, packaging, design. I mean, those are real values. In Western countries, we in general have a lot more money than we have time. Why would we spend going through 50,000 tweets to find something good if we can find a curator that happens to work for a magazine? I mean, we'd rather pay for that, but we wouldn't pay per se to read the news in the New York Times $300 a year. I mean, imagine there's the biggest newspaper in the most influential paper in the world, the New York Times, with the best writers you can possibly think of, right? In a country of 320 million people in the US, you know how many people are subscribing and paying $300 a year? A million. And they think that the paywall is a success, right? I mean, they're talking about how great this is. And the advertising revenue is like, you know, you can't even see it anywhere under this podium somewhere, because there isn't enough traffic. I mean, does that make any sense to you? So basically what's happening here, I think for what you do, you have to build value around the core. All the stuff that you thought was extra in the past, was extra services, that's the future where the real money is, right? The value isn't going to be in selling data and intelligence on clipping, so to speak, media is going to be around all of those things, how you do it, when you do it, and what form you do it, and what languages you do it, and so on and so on, in packaging, in all of these things. Of course, that's a consequence of media moving in this way. As an example, the Economist, which has great writers also, right? They tried to get me to subscribe for years, for $300, for $200, and then for $100. I said, okay, I'll try it, and you know, I found out, the only thing I like about the Economist, apart from the writers, I can listen to the Economist, it has all the versions of the entire magazine that you can listen to while you're driving. That's why I have the Economist. Would I subscribe to the Economist for $100 a year if it wasn't for the audio, clearly not, because the intelligence in the article, I can find other places. But the interface of the audio is worth $100 to me. That's a great example of the added value. This is something you have to think about, because the added value is the future. There's a music service called Spotify, some of you may know. Spotify, Simfy, Morg, Ardeo, do they sell music? Well, it's 10 euros a month for Spotify. They don't sell music. They sell the rapper, right? The way to get the music, and the interface, and the app, and the synchronization. The music is free on YouTube. Why do I need Spotify? I pay extra because it works. So one picture I wanna make to you, again, back to the music business, right? I used to work in the music business for a long time, so I have good experience there. One of the heads of the music business independent label said, you know, they have to be sanctions, ISPs have to be involved to block stuff and have legislation to make our business better, right? Whatever you do, please, don't be like the music business. I mean, you could fastly say, whatever you do, just do the opposite. I mean, if you see what happens to them now, I mean, three years from now, I would have to actually look it up on Wikipedia to see who EMI was. So something to think about. Media is becoming about access, not about ownership. This is the Aakash tablet. Imagine when you have three billion people, which is gonna be our reality. Even here in Poland, you know, where mobile service is bad, and the data service really needs to increase. We talked about this many times. Access is gonna be about access to media, not ownership. And your model of monitoring stuff is gonna be about the access model, not about who's going to own what magazine and what they read, but about how they access it. Of course, mobile has been talked about many times. Increase of data, you know, all that stuff. But here's one fact you may not know from the Google research. 40% of consumers use social media while watching television. It's called the second screen. So while I'm watching, you know, Lost, that's years ago, you know, whatever the big show of the day is, right? I can Twitter and do my Facebook, do my email, make a Skype call, call people on my mobile device, right? So this mobile device is getting more attention than television, right? The attention monopoly of television is over, right? Except for where you can't get on the internet. Well, that problem is gonna be solved, right? So think about what they will do to advertising. Or you're looking at roughly a trillion dollars, you know, 560 billion in advertising and the rest in marketing and data mining and view services. You're looking at a trillion dollars merging in this direction, at least half of that. I mean, it's early, right? Mobile is 1% of advertising budget, it's nothing, right? But clearly, this is where it's going to go. So we have the explosion of disruptive habits. You know, what people are getting used to, touching data on Google Glass, you know, if you haven't seen this, you should take a look, right? And then we have this phenomenon that the users, the consumers, right? I call them the people formally known as consumers. They're becoming content too. Like the Weather Channel, for example, has a service called Social Weather. The Weather Channel is a big TV station. To where they look at tweets from people about the weather and they aggregate them to forecast the weather in any particular town where people are tweeting because there's like, you know, couple million people tweeting about the weather. So they created this interface that's part of the Weather Channel, but the data comes from the users. I mean, it's a great idea because it's free, obviously. Doesn't take that much. Can you create something like this? I mean, this is just a Twitter stream, right? Curated stream, right? Then you can superimpose that there. And people call this, you know, the essentially the participation culture. And let's make no mistake about it. Lots of people who don't want to participate, obviously. Or not always. And not everybody's gonna always treat about the weather. But still, you know, there's a huge amount of data that's being generated that we can tap into. Great report from RICO and from the economists called Disruption in Business. You can download it on the internet. It's just a type in RICO Disruption Report. Read the whole thing, right? 85 is free, 85 pages. They're talking about all the stuff that's happening right now that's disrupting all of our businesses. Whether you're a bank or insurance company or government or a media company. Cheap smartphones, business social networks, data mining, cloud computing, immersive holographics, augmented reality. All sounds like Star Trek a little bit. But remember, today you can be on top of Mount Everest and make a YouTube video and post it from top of Mount Everest. You know, I did last week just joking. But you can do that, right? I mean, it's amazing the stuff that we thought was science fiction. So one lesson that we have to learn from the lives of lots of Chinese companies and other companies who own the business of disruption, you only really have two choices. Either your business will be disrupted by somebody that you haven't even know existed or you're gonna be a disruptor. I mean, Richard Benson has a new book. He has a bunch of books, but he writes some really smart stuff about this. That's his entire procedure is to say, who can I disrupt? And he has 375 businesses, and then he failed in 50 others. But you have to think about being a disruptor or somebody's gonna disrupt you. This is basically your choice, or all of our choice, really. So we're living now in a fairly complex world. It's moving fast and has all these parallel levels. And of course the countries are all different. Whatever is true here in Poland could not be true in Portugal or in Korea or in Germany. It's a cultural phenomenon, how we deal with media. But the publisher of The Atlantic, which is one of my favorite examples for how digital media has taken over, the 57% of their revenues is entirely digital. So it's one of my favorite magazines in the web, a big brand. He said, it's become very clear to me that digital Trump's print, and he says, is also true that pure digital without legacy costs of printing, massively Trump's print. Does that mean that print doesn't have a future? It does, in some places for some time, and printing on demand and augmented print. Yes, they all have a future. But that future isn't going to be like it was yesterday. It's gonna be convergence of the two. In Brazil where I do lots of work, Fulhab, which is a business newspaper, you know what they're saying? They're saying, you know, our printed magazine, our printed newspaper is one of the products that we do. It's one of the screens. In fact, the print is one of the screens. So this is their ad, right? You can read the paper, you can get the iPad, you can look on the mobile phone, you can use a Nokia phone if you want, or text. Print is just another screen. What will that do to your business? To me, it's like, okay, that's a significant threat because the numbers were good before, as I was saying, you know, the newspapers made so much money that they could afford to hire you and the corporate people could afford to hire you, monetize the newspaper and so on and so on, right? But the future ecosystem is going to unfold in this direction. Example from Poland, the Gazeta Wiborska, I think. Media is becoming rapidly disembodied. This is the ad from the newspaper. This is the newspaper ad saying what's happening with newspapers. Basically the message is, it doesn't matter how you read us, right? We can come to you in any which way you want, it could be this form, right? It could be landing on your doorstep in a digital form, right? It could be on the computer, it doesn't matter. But media is becoming disembodied. And that's inevitable, as much as saying, like you don't, you know, the horseshoe people that made horseshoes for horses didn't like the train. Well, that's too bad, the train came anyway and people stopped using horses. And they are still horses, but we don't ride them anymore, right? So basically what's happening is that we have new interfaces, Ray Kurzweil is talking about how internet information is moving into an iris, having essentially a lens. I mean, talk about strange, right? That's what he believes, right? Samsung was building television that you can speak to. You should try it sometime, like Siri, works better than Siri, that you can gesture to. That information with different interface is gonna be absolutely mind-boggling for our future because of what happens there. I mean, this world that we're used to is gonna be turned upside down. We're in that process right now. And I think this is very good news, right? Because clearly in a connected society, if you have a connected model, I think you can really prosper from this. What will this mean for you? Well, no, we talked about this already. Print and digital is converging. Now with the new Apple phone and also with many other Android things that are coming, you can go into a bookstore. The bookstore knows that you're an Amazon club member and he will send you coupon for Amazon-sponsored books in the store or send you a free e-version of the book that you just bought and print in the store. Using what's called the Passbook from Apple. But also many other things that will do the same thing. There's not gonna be an Apple domain, right? We're moving from a paper culture to screen culture. And paper will be around, but this will be one of the options and probably will be sort of a premium option. So what does it mean for your business? I think that it requires two parallel models. You have to be schizophrenic. I'm asking you to be dualistic. I think Leonardo da Vinci said that the true sign of intelligence is to be able to live in two different worlds at the same time. Somebody dropped over there already after I said this would be schizophrenic, but there's the old order, okay? Media monitoring 1.0. You know this old world and it's still here. Lucky you, I mean, you could be a record label. So you're still here. This new model is just starting. So what choice do you have? I mean, you're gonna wait until somebody else invents this and then blows you away. We've seen that already in many different examples. You have to actually start the new one while the old ones still exist, right? You use the current revenues to build the future revenues. And you're hoping that the new model will take over the mothership, right? And eat the old model. If you're gaming freak, you know what this means, right? There's a need for speed. Basically, it's a very un-German thing to say, right? But it's really speed over perfection. Because if we don't have the time today to sit down and make an elaborate plan or watch our neighbors to see what they're doing, right? If you do that, you're in deep trouble. You don't have time to map out a plan and see if it unfolds according to plan, you know? That's something we did 10 years ago. So as Google says, I do a lot of work for Google and their mantra is amazing. They say, you know, fail fast, fail cheap. Spend 5,000 euros here, 10,000 euros there. Try a new model. If it fails, throw it away, try something else, right? But don't try one thing for $10 million. Unless you're really sure that that's what you wanna do. We've talked about this already. So I think there's a dramatic innovation space happening here. The overlap between paper and print and digital mobile, social, social, local mobile, right? I mean, if you could figure out how to morph your model into this space in the middle, I mean, clearly, it's not gonna be either or, it's gonna be both. But not something to be ignored, obviously. I talked about Amazon before. The key thing that Jeff Bezos did right is that he became a market maker. That market didn't exist. He made it. It took a huge leap. Not everybody can be a market maker. Quite clearly, I live in Switzerland. Nobody wants to make a market. They want to wait to see if a market is present to them. But what's happening here is that if you're a market waiter, that's not a very good position. You're a market taker, yes, maybe. But I think to make a market is where we're going. And I think part of the future here is that we're quite clearly seeing that this idea of silos, this silos of media and technology, internet, mobile, and social, these silos don't exist anymore. It's game over for this. I mean, this is why you're all on Twitter, of course, and on Facebook and on LinkedIn, right? Because you're realizing that this is all the future. It's converging, right? You're in the tech business, you're in the media business. You're obviously also going to be in the telecom business because there's lots of data coming from those guys, right? And, of course, technology. Great example is Netflix. I'm talking about media. Netflix is a channel, an offering in the US and Brazil and many other countries that for $10 a month, you get unlimited streaming and watching of any movie you want, including High Definition and DVDs. I think they're stopping that now in America. $10. It's hard to get from here, but you can try it with an IP tunnel, but it's difficult. As opposed to the New York Times, who's saying you can't get any of our cherished stories, you can come, I think, what is it, 10 times a week until they pop up a message saying that you're not gonna welcome, you're interested, but we hate you. So they're asking you to spend $300 a year to go over that wall, right? I mean, you have to be crazy in love with the New York Times to do that, right? And, obviously, there are people who are doing that, but Netflix has 32 million subscribers, right? 32 million, I mean, anybody who says that people are not willing to pay for content on the internet is completely mistaken or has lived under a rock for the last 10 years, right? Just plain not true. So the future, I think, of media is gonna be about pay will, not pay wall. Tell that to your newspaper clients and to clients who are monitoring the newspaper business. I mean, data intelligence clearly is gonna be about finding out how to get beyond that wall because clearly, this is not for me, it's from the American Marketing Association, a guy named Clive Humby. Clive Humby in 2006, right? And this has been picked up all over the web. I mean, this is becoming quite a deadbeat tag, right? But data is the new oil. I mean, you're in the data business. But as was said before, data by itself is useless. I mean, we can get mountains of data, but can we make human sense out of it? Can we create an output that actually matters to people? I mean, we're not robots. If we were robots, then we could easily make sense out of just data, right? But it doesn't work quite that way, right? I mean, if you look at what's happening with machine to machine intelligence, everything is gonna be connected to the web, the car, the scale, the Wi-Fi scale that you're sharing your weight with. People are doing that, right? 50 billion devices connected to the internet is what Ericsson is predicting. Imagine what you can do with all that data and what monitoring will mean like that. You know, big data, there's a lot of slides on this, but you can download my slideshow later on Twitter. I'll put it up and of course, go through the organization as well. Most important part here with big data, hard to see from the back here, is this, that one out of three business leaders in the US make critical decisions without the information they need. I mean, that's obviously your business, right? You're gonna help them make those decisions about which ads to run and what to do, right? I mean, this is clearly going to be an interesting field in the future. I think it's all gonna be about this, about relevance or noise, right? I mean, if you're gonna just offer noise, there's plenty of that already, and the noise is gonna get worse. I mean, it's not gonna be better, because now we have three billion people connecting to the web in India, Russia, China, Brazil, Africa, and the noise is gonna be deafening. I mean, you think it's noisy now? This is a sanatory right now, right? That's crazy gonna be in the future. Okay, so a couple of things that IBM said about data, and you can download this from a smart app planet, talking about the relevance of what's happening and being able to predict and analyze data that's coming. Okay, I need to skip ahead a little bit here because we're heading towards the end here. Important point is that in all the data business and in making sense of data trust is the currency, right? It's actually not the data. People buy from you the relationship where they believe you make sense out of it. This is about trust. Ultimately, you're selling trust, right? I mean, you're not selling software, whatever it is, people will trust you that something comes out the other end. It's a great book called Collaborative Consumption by Rachel Bothman. She's talking about reputation and reputation capital. I mean, this is the currency of trust, of course, is reputation is a measurement of how much a community trusts you. Very important trend for the future. We don't really have time to get into this, so I'll skip this, but you heard about freemium before, and I would encourage you to investigate this idea of free and premium. That's what freemium really means. This idea of creating offerings where clients can get in for free down here, but the real business is in the upselling. I mean, this is a winning model. LinkedIn, you guys are on LinkedIn. If LinkedIn had asked you to pay $20 to join, you wouldn't have joined. But LinkedIn makes $600 million a year now on the 5% of people who are buying access to more emails, essentially, through LinkedIn. It's a freemium model. So this is definitely happening across the web as a huge choice, right? So I gotta skip ahead a little bit here. You can maybe start formulating some questions. As you can see, I was planning to be here for the rest of the day. Okay. Talk about data, as this was mentioned earlier. We're gonna have artificial intelligence everywhere. I mean, this is a huge field as Ray Quartz is talking about the singularity, the conversions of human and machines, very scary stuff. But this data is gonna be absolutely everywhere. I think the key is with all the data is that it has to be newly and truly intelligent, but the other key is that it should never come at the expense of humanity. Because that's what the business is all about, right? It's not going to be about creating a software engine that can pipe out data. So this is where the curation of humans comes in and all that stuff that journalists do well. I think our future is gonna be like this. It's gonna be an ecosystem. We've had in the past a lot of companies that I would call ego systems, including Apple, to where everything was under control by one company, you know, universal music and Warner and the studios and broadcasts, but technology is forcing us to create an ecosystem. Part of that ecosystem is that basically we can't live without the other wheels. We're becoming interdependent on those wheels, like APIs for data. If they shut you down, then you're out of the API, you're out of luck, right? So we're depending on each other, we're creating new ecosystems and that largely relies on open systems. Sorry about this, but I'm gonna do a short summary. Final point is on leadership, and this is very important. Many of you are obviously leaders in this turf. As my good friend Albert Einstein has said, creativity is the residue of time wasted. If you don't allow your people to waste some time on checking out new stuff, you're not gonna get creative output. It's crucial, I think, for devising, especially when you have engineers, right? The Google rule is 20% of your time has to be spent on new projects that are not related to your work. At Google, if you don't do that, you get fired. You get fired if you don't goof off. Okay, quick summary, and then I'm really done, okay? Network society, network business. This is absolutely inevitable, and that is basically where it's going, and that's happening across the board, not just the media, but also energy and transportation. I wanna dream about one thing tonight, dream about Solomo, social, local, mobile. That's where everything is headed, and that is the new revenue source, as was discussed already many times this morning. It doesn't mean that the old revenue source will die, but they're obviously going to converge. At what time you have to be the judge of that. Build value around the core, not from the core. You're not making money with that data, you're making money with how you present it and when you present it and what the interface looks like and the trust and all the other stuff around it. Mobile, old order and new order. We talked about that intellect of this innovation space. Clearly it's gonna be very important. Trust being a market maker, and this new ecosystem I think it forces us for hyper-collaboration. There was talk about earlier about competition. Forget about the competition. It's all about hyper-collaboration. How do you collaborate to be there tomorrow and to be to prosper tomorrow? It's all about that, because competition is from yesterday. By the time you're done competing, you'll be dead because somebody has collaborated. I mean, that's what the whole story on the web is all about, right? Need for speed? Disrupt or be disrupted? Okay, the final saying that I'm really done. This is my message to you. Be an ostrich now, I'm just joking. But Richard Benson says, the brave may not live forever, but the cautious do not live at all. Thanks very much for your time.