 Henry Ford had asked people what they wanted. If he had asked, they would have said faster horses. So what we need, I think, many times is we need to have some foresight, some imagination. We cannot ask people and say, what do you want from television in the future? We can ask people, we get answers. But there's a few things that are not entirely obvious to everyone. And if we just make faster horses, we'll just have horses, but we really want a car. I think if we're looking in this direction, the future of television and of film is to send and to receive, not just to send. And there's this kind of trivial, obviously. Of course we want to receive, but how? How do we do this? I think the end is the important part. What do you make out of this? 2008, American television watches 11.5 hours per week. Internet 8.9, and today, 11.5 hours of television. 14.2 of internet. So has the internet taken away from the television audience? Not according to this, right? Because they're doing both at the same time, right? That's the answers, right? Obvious. Television matters just as much, but the internet is taken over as a secondary channel or sometimes a primary channel. They work hand in hand. It's not one or the other. So if we're following in this direction, we're basically seeing this. We're seeing complete convergence of television and the web and of push media and pull media. Convergence means that both belong together, but of course in a fragmented market that means we have to see where we put what. And clearly in five years we won't be talking about internet and television as separate entities. They'll be completely merged. Let's look at the real aspects of this. What does it mean? It means that we are becoming connectors, not just directors. It's a different role, different ways of looking at it. So in this context, let me introduce you to the teleweb, a television web. What does that mean? I mean, this green box we're all very familiar with, but of course now the teleweb means with the iPad, every magazine is a television station. I don't know if you played with the iPad, but that's basically what it does. You click, you point, you move, you swipe. My grandmother can do it. Then we have the connected television. You will not be able to buy a television that's not connected to the internet in two or three years. Every single television will automatically connect to the internet. Change in television watching because of internet, quite interesting as I said before, same amount, 64%, some more, some less, but by and large not much of a change. So the real hope for television and of course for films also in the future is the convergence of the two. And that's what we're looking at. The TV generation and the net generation is completely different kind of user. One wants to switch off, right? Being in front of TV, you switch off, you disconnect. The television, the net people want to switch on, right? Because they're looking to connect with others. That's a whole different frame of mind. Today we have a multi-culture. We're saying, have you seen Robbie Williams' latest track with the tie overdub? Standard procedure for kids. Multi-culture, fragmented, sending and receiving. So there you could argue because of the power of social networks, Facebook could very well be the next BBC. There's one big difference here of course, right? Facebook does not have a license to broadcast anything. But Facebook is broadcasting us to each other. Facebook is already a broadcaster. So it's a micro-broadcaster. Imagine what would happen if Facebook gets a TV license. With one swoop that'd be as big as the ZTF and BBC and Australian television all thrown together. Think about the commercial opportunities there because Facebook doesn't know shit about television or content for that matter. They're a bunch of geeks. All right, so there's a huge opportunity here. Social networks are the next broadcasters. And if you're currently on the broadcasting business or in the film production business, you won't get around these guys. That's your audience. That's the engagement that comes from there. Look at these numbers from the latest Morgan Stanley report. It's not just Facebook. It's QQ, Baidu, Cyworld, Mixi, Orkut, High Five and all the other stuff that people waste time with for good reason. Think about what it would do if you could think of Facebook TV. What is your role in this ecosystem? You're going to leave this job to Google or to Vodafone or to Facebook. There's a huge potential of collaboration with these companies to create television, film, on-demand content channels. You need to prepare now for total convergence. Again, look at your 13-year-old and you know what convergence looks like. You know what they do at the same time SMS, the mobile phone, the television, the computer, listening to music and whatever, smoking at the same time. Listen to and watch your kids. TV is push, web is pulled, so you have to mix them up together. Blend them. Use the best of both worlds. And of course, this is vastly different in different cultures and different countries. So one thing I cannot give you today is a recipe. I can give you a view. You have to cook your own recipe because all cultures, all countries are different. But please, reduce the time spent on making faster horses. Sometimes you have to do that. But let's look at cars. Let's look what's after the horse. And here's a short warning. These developments aren't linear. If you were unfortunate enough to go to business school, which I didn't, I went to music school. Then you learn that businesses grow like this, right? They go linearly. They have R.I. and all that stuff that you learned about that I only fairly touch on. So it's not linear. These kind of things are explosive or they're dead. One of the two. It's like this. It's a hockey stick. It's not gradual. So if you were hoping that you have time to catch up before the hockey stick takes off, you have to create the hockey stick. You don't have time to sit and say, let's watch this development. Because when it takes off, you're in the middle of it. So just to summarize, the social networks, it's about when you're out and about. It's not about when you're sitting in your office or when you're at your computer. It's when you're out and about. That is the crucial part of social networking. It's within your tribe. A tribe meaning, as Seth Gordon has defined it, about 150 people. In some cases, 500 or 1,000 by the limited number. Things happen in that tribe. You want to get into the tribe of every person who is interested in your movie or film production, your TV show, whatever it is, and you have to activate them. That's the goal. These things don't happen in the wild just because they've seen a link. It's all about the tribe. Which brings me to the next point. It's about people like me. I can't tell you how many people I've found on Twitter. And on Facebook and other places, and of course in real life, who I realized there were a lot like me by what they were saying. And I can see that by just scrolling down the last 50 tweets. Not being like me in the sense of a total sense, but just in terms of the mind. Thankfully, not the body. So people like me finding those, I mean that is the mission of what we're doing on the web. That's after all our culture. The right time, the right place, with transparency and the users in control always. Last point is people will give you money because they trust you. They will not give you money if you force them. They will give you money when, and that's never really been different, except that the web makes an extreme case.