 I'm Richard Pascal and I'm here to talk about avoiding the innovation graveyard. It's almost oxymoronic in a way to think about the question, how does a large company with an established business model that's successful succeed in accommodating disruptive innovation? And the oxymoronic part of this is affected by all of the things that are necessary to be successful in your core business blind you to or prevent you even if you're aware of things going on around you from doing the very things you need to go to where you need to go because those very things almost always do harm to your immediate business and do harm to shareholder's expectations. Inevitably when these sorts of innovations come up they come in the form of features that are less exciting than the current offering. They are usually performing at a lower level. They almost inevitably involve lower margins and they actually go for customers that you don't have. So you're offering something even if you were brave enough to suggest it that your current customers don't want. And how you deal with this as a large organization, we're not talking about kittens and puppies, younger organizations for whom agility comes naturally. We're talking about old dogs and new tricks and it turns out to be really hard. The remedies are hard to come by. For all these reasons you're really hoping for or requiring a very special spirit which really involves every employee somehow internalizing the founder's intent that was courageous enough to do whatever was necessary to get the company going in the first place and to take the hard decisions that in the near term which can be 12, 18 months really disappoint or make a lot of people who are used to what you normally do quite unhappy.