 This is great to be here. And I think our plan is we're just going to talk a little bit about virtual reality and ADI. And virtual reality is all about storytelling. So Tony will talk a lot about that. And I'm going to tell a short story about how we were involved with virtual reality and how we got involved with ADI. So with that, so starting off, just virtual reality, I'm sure a lot of people know about virtual reality and augmented reality. But for a long time in science fiction, there was this idea of virtual reality as this place you could go to and interact with other people and experience whole new worlds and things. And so there were books about this. There were movies about this. And so it's been pretty pervasive. But for some reason, this hasn't really played out until now. There's been these long ideas about VR, but not a lot of actual reality about it. And it's been going on since the 90s. So here you see maybe since 1990, basically what the state of VR tech was. And you see things all the way on the left side that came out around 1990 when a VR headset cost $20,000. Not really something that most people would have. And they were talking about these applications. Like, well, maybe you could practice surgery inside of VR. Maybe you could redesign cities and have civil engineering happen inside of VR. But it didn't really catch on. And then in 1994, you had some Nintendo and Sega came out with their products. Never really caught on. In fact, the Nintendo product was the worst selling product Nintendo ever launched. Yet there had been all these ideas about VR. So what went wrong? And you see also here there was really nothing that happened between the late 90s and today. Very limited efforts. People felt like VR happened and it didn't work. And so now what? But if you think about why it didn't work, it was really five major factors. It was super expensive. Most people couldn't afford it. It wasn't a consumer device. And in these experiences, people got motion sickness because there was so much latency in the devices. And the resolution wasn't there. So you end up with these really boxy environments you were in. It wasn't like reality at all. And then, of course, content was missing. We didn't have enough processing power to fuel this content. So you fast forward a little bit and you can imagine the tech industry took care of a lot of these. And so things like better processors and better display technologies came along. And so Oculus put them all together. And so we were an early investor in Oculus. We thought that the product they had made and the traction they'd gotten amongst developers to create this new wave of virtual reality was really important. And after Oculus, Oculus proved that the tech was ready. This VR dream that people had could actually work this time. And this whole industry emerged around it. And so now you have other headset manufacturers. You have other content makers. You have a lot of different things happening. Now, Oculus was a pretty important company. The question that follows is, could there be another really important company in VR, Hint, at AI? But when we think about important companies, we think you have to be doing something that the market wants. You have to really fill a huge void that's there. Like meet an important market need. You can't just create something that nobody wants and make a difference. So in addition to that, we try and think about, how are you going to be lasting? How are you not only going to create something that people want today, but how are you going to be around for 20 years so that you can make a huge difference? And so usually we think of these various ways that you'd establish yourself as a major player in the industry, network effects, technology, huge scale, having that be an advantage, or just brand. And so these are things we think about. Let's keep them in mind as we go through this. Going back to the things that were missing in the 90s, one major area that was still missing, even after Oculus, even after all these companies that came out in the last couple of years, was content. So if you think about content, in experiencing VR, you've got content that you need to have some place to consume that content, and you need some device to consume that content on. It's not so different from the web. You need a monitor. You need a website to go to. You need things on the website. And so if you break down content, you have computer graphics or computer-generated images, and you've got somehow live action. And within live action, you've got spherical, which is where you have cameras facing out, looking at the world. Almost as if they're projected on the surface, like a planetarium. And then you've got volumetric, which is something you're gonna, you could look at from all sides. And so if you ask yourself, where's the opportunity today? It's in volumetric. People have figured out how to have outward-facing cameras that sit together, not so hard. But having cameras facing in and actually capturing real content and real life to create real virtual reality, like virtual reality where you feel like you're actually there and experiencing things, that hasn't been done. Now, if you think of what goes into creating volumetric content, you've got a lot of different pieces. You've got talent, capture processing, and then destination and device. And for most of these, there's huge amounts of competition. You wouldn't wanna start a talent agency. You've already got many, many actors out there. That's a very competitive industry. Destination sites, they already exist. Devices, we talked about them. But in the middle is capturing what's happening in real life and processing that to put it into the environment. And so that's the hole that ADI fills. And we think that's a really important one. We think it's really defensible. ADI has technology that no one else has. It has a brand amongst filmmakers that's building that. It's gonna have more things that make it really special over time. And that's what helped us believe that, yes, this will be one of the really lasting companies in VR that makes a huge difference and that we wanna be involved with and help anyway we can. And so that's what led ADI to being our first virtual reality investment since Oculus. We were involved in the SEED and Series A round. So with that, that's the short story of how we thought about VR and how we got involved in ADI. And I wanna leave it to Tony to tell the full tale of ADI. What we're doing at ADI is making it possible for virtual reality to become more human. Virtual reality is an extremely promising medium for us to communicate and tell stories in an extremely compelling way. And as Scott's mentioned, there's lots of stages to the technology that's needed to make that possible. But since I'm here in a community of storytellers and people interested in story, I wanna focus on what is it that we bring to storytelling and what tools can we offer? So, yeah, as Scott's been saying, there is an industry emerging now. Virtual reality is sort of the early poster child of this with devices like the Oculus Rift that can put you inside a fully immersive world. But behind that is also coming augmented reality where we digitally augment the real world that we're in. And it's not just headsets, it's other forms of display, holographic projection devices and more broadly a trend where the internet and digital content will increasingly transition to something that is three dimensional and more like the experience of real life, part of this endless march of telling our stories as human beings. So, while it seems that this year in 2016, we're at an inflection point for the hardware display devices that alone is not enough to really catalyze this industry. And so that saying content is king is just as true here in VR and the other associated formats as it has been for past technology. But what type of content do you need in VR? Well, it's got to have certain qualities because the power and the magic of VR is that you can give viewers a real sense of presence in a different place. You're not just asking them to look at images, you're asking them to step inside a volume that has all of the dimensions of real life so that they can move forward, backs up and down, side to side, they can rotate across any axis. And this has this amazing transformative effect in your brain of actually delivering you to a different place and having that compelling feeling. Now, to create content that works in that environment, as Scott said, it has to be volumetric. It can't just be the illusion of three dimensions, it actually has to be digital content that has those dimensions, including the dimension of depth. And for the most compelling content, it must also have motion. We don't just wanna watch static things, we wanna tell moving stories. So where's all this volumetric content gonna come from? Gaming is gonna be the early mover. VR has come from the gaming industry and indeed a lot of genuinely three dimensional content already exists in gaming. Gamers are used to navigating and moving through 3D worlds. Indeed, we're already seeing a whole community of virtual reality game developers emerging really rapidly. But VR has so much potential beyond that and people want to tell more than just gaming stories. So this slide here shows some thumbnails from this year's Sundance Film Festival where dozens of storytellers have come together wanting to tell their stories in virtual reality. Some of those stories have been about fantasy worlds and they've used CG effectively to create these worlds and create three dimensional content. But a great and actually a majority of these content creators have wanted to tell human stories, right? That's no surprise to us, those are stories that we're all interested in. But until now they've really lacked the tools to do that because it turns out that making VR human is actually a really tough problem. What we would define as good human content for VR is content that is genuinely volumetric. It's able to move and it looks real and it moves in a natural way that we all expect humans to behave in. Otherwise it kind of messes with our head. So CG authoring of three dimensional content has some problems. It always runs into this issue called the uncanny valley. The more realistic you try to make the people move, look, the more creepy they actually end up. It's really weird and then you try to get them to move and they can't really move in all of the natural ways and it's really, really disconcerting. This example here is actually one of the best in class in the world. It's made by Nvidia and yet still there's something about this guy that's a little bit creepy. He doesn't have any hair. You know, no offense to bull people but that's a hard thing for them to do. It takes months of work by artists to author one of these. So it's not really very scalable either. Here's another example from the Polar Express which is a film made in CG. You can really see that the characters kind of bridge between cute and creepy but either way you can tell that it's not quite real. Your brain doesn't quite get that. And the same is going in VR filmmaking. So this film was shown at the Sundance Film Festival. It was made by Noni Della Penier and her company Implematic Group. She's known as the godmother of VR and is trying to tell a really human story about domestic violence and the impact this has on communities and yet you can kind of see here from the characters they're still kind of lacking the tools to make that really gritty human story feel like a real true story. The other approach that people try to solve this problem is using the spherical cameras that Scott talked about. The problem with that is that it's not really volumetric. So if you wanna watch that dancer perform from the side or see how he's doing his moves from behind, you can't. It's really just a two dimensional sphere. So it doesn't give you all the freedom to feel just as you would if you're in the street with a dancer. And that's where we come in, making virtual reality human. So our process is that we capture real human performances on a stage. We want to enable those performances to be translated into volumetric VR where the viewer has unlimited perspectives on it. We wanna do this in a way that's really practical. We don't just put a camera in every possible position that the viewer could be, it'd be way too many cameras and way, way too much data. So instead we capture it with a very sparse array of cameras and that's where a lot of our magical IP comes in in the way that we synthesize all of the infinite views and possibilities that lie in between that. Then the other side of the magic is taking that huge kind of array of imagery and compressing it enough so that people can send it, share it on devices and watch it. So we start out with a character shot on our stage and then we can transport that into a different environment like this gladiator here that you can see in a Coliseum. It could be a CG environment, it could be photographic. It's something that you can move around in any direction that you wish. And we can take people out of an empty space, an empty room and allow them to really be present with somebody else. And because of the genuinely three-dimensional nature of that performance, it's fascinating to watch people actually be transported into that other world to move around and explore. They feel a sense of emotional connection. They look back on it, not like something they watched but like something they did, something they actually experienced. So that's a real breakthrough in how we can tell and share human stories and how we can move people. And it's a really exciting time for our company because this has been a very deep technology development exercise but we're now at the point where we can take this and begin to use it to experiment with how we communicate, how we tell stories. Okay, I just wanna show a few seconds of the start of the video. So you get a sense of going back to content and how you move around. You have to keep showing people why you're here. What's about, who's gonna rock the spot tonight? As the internet transitions to 3D, ATI brings you the best way to create and experience content in this new digital reality. Yeah, thanks. So I just wanted you to see how we record someone and then out of that comes something that looks very much like a video but you can move and rotate all around it. And I'm hoping if the Wi-Fi is working well enough out here, you'll be able to experience it yourself after this talk. So some of the applications we're beginning into apply this to. This is a California based rap artist called Chewy. We shot him in our studio and then we took his performance, transported it to Venus Beach where you can stand and watch like you're a front row member of the audience. We've also been trialing in cinematic applications. So here is a scene Mad Max inspired Wasteland without our technology that would be an empty wasteland but we enable volumetric human characters and acting to be a part of this medium. Another application in the fashion industry, we really excel at showing human skin, human hair, the most realistic 360 volumetric human. So it's a great way for people to really understand garments, how they look, how they fall, how they move, what's it like from the back. And something that's really exciting for all of us is capturing human memories and we're really looking forward to the time where more and more people are able to capture and share important events in their life and create a record of that that can be distributed across space to other people and through time. So this is a shot from a scene we took of a mother and her three month old baby. Nine months later, the mother returned to the studio and we captured her child at age one. Rhys is taking her first steps and it was really amazing to start documenting someone's life in this way but also to see the mother go back and re-experience and really feel like she did when she was the mother of her three month old baby. She could actually go into virtual reality and step back into the exact same position she was cradling her baby in her arms. And so it's a type of medium that will allow us to really give people emotional experiences and open up a whole new world of communication and storytelling that way. I just wanted to end actually flipping this over on the other side, so not just the content itself but thinking about how we author that content because that is the other side of democratizing the storytelling medium. So while actually a relatively narrow set of people can author high-end CG or write games, a lot of people make content using video cameras or using the cameras in their phone. And at ADAI what we do is we use off-the-shelf cameras. Right now we use quite small industrial cameras but the approach we're taking is something that can apply to high-end video cameras and also to the cameras that people will carry in their phones. So it's a really exciting future to think of virtual reality and not just as something for super tech, super geeks but for you and I to capture and share experiences with each other and connect across time and place in a really compelling way. Thank you. Thank you.