Technology's Next Investment Opportunities

I think international is key. I think open mobile platforms eventually will come and that
will be another key thing. I think that—Flicker and all these are part of a bigger trend
which is people want to pay to express them selves not to consume. I think that even if
you have main stream content, you’re going to allow people to use that content to express
them selves not just o consume it on their couch. And this is generational thing.

So I think that things that help you express, things that are mobile, and things that are
global, those are all key things. The other thing is that it goes for content, I think to
context. Content is like CD or a book and then you go to something like a video game
and you’re interacting. And then karaoke, it’s you’re participating and then texting,
you’re actually the content. But then what happens is it becomes very much personal and
timing oriented and a lot less copyright oriented.

Twitter and all these new things instead of updates and all that, they’re rally very low
content. Each line doesn’t have that much content value but it has a lot of context value.
And keeping people in touch with each other in real time, anthropologist called this full
time intimate community which is the people who you know what they’re doing right
now. So if you have a Blackberry, you probably know what you’re 10 most close friends
are doing at this moment.

This is a new thing. It’s completely changing the way that you think about time and
space. I think application is that sort of live in that space. This is very vague. But early
stage investing, Rey Hoff and I always take about this, it’s like anthropology. What you
are trying to see how technology changes behavior and trying to see where people go.
And I think the way that people are behaving with this new technology is that they’re
not—like I don’t know where I’m having dinner yet, whom I’m having it with. But I will
know within minutes with my Blackberry.

So how does that behavior changed how restaurants should react. How the train schedule
should work, how media should be presented. Those are the kind of areas I think that
have a lot of innovations still.