Matt Britton Live At Sysomos Summit 3/1/18 New York NY #social media marketing #millennials #keynote

Conference in Florida last week, and the average age was probably 57.5 years old. And there were no Millennials in the room, which was super cool. I just had to change my presentation. I do these presentations all over the world to all different types of people, to college students, to parents of young kids who are trying to figure out what the hell they're doing on their phone all day, to folks like yourself who are really digitally progressive and know where the world's going, or you'd like to think so. And then, of course, people who feel like they're out of the loop and they're really disconnected. I might need to clicker, by the way. Here it is. And I wrote a book, Youth Nation, and why I wrote a book Youth Nation is because your age really doesn't matter. Youth Nation is really about a way of life. The Millennials were the first generation that grew up with the Internet in the household. That's why they matter. That's why people care about Millennials. I'm always asked, why are Millennials such a big deal? Why are they talked about five to seven times as much or more as Gen X did? And the reason why is they're really a different species than everybody else who came before them. If you think about the access to information, the intuitive understanding of technology, and the ability to tear down companies, institutions that have been around for over a century, this generation is unlike none other in history. And I often get asked about Gen Z. Well, what about Gen Z? What about this next generation? I don't think the difference between Millennials and Gen Z is going to be nearly as stark and nearly as disruptive as the change from Gen X to Gen Y. And what really fascinates me is that Millennials still have not filled up the C Suite yet. You still have C suite people, CMOs, for instance, that are golfing buddies with the CEO of a Madison Avenue agency, making decisions in a 1995 world like we're tuning into Must See TV on Thursday night to watch Seinfeld and Friends and Cheers. But that's not the world we live in anymore. But the reason that the world hasn't shifted is in most major organizations, those decision makers did not grow up with either household. But once that changes, once the Millennial generation fills the C Suite, I think all this disruption that myself and everybody in this room says, why isn't it there already? I think that's when you actually really start to see a disruption. And what I tell these generally all white, all male boards of major companies is, you need to Create a shadow board. You talk about Mark Zuckerberg and Evan Spiegel like they're these gods, yet the smart 27, 28, 30 year olders in your organization are or 10 floaters below you, and you don't even know their names. So I think major corporations should have to report their board to the young people in their organization. They should be accountable to them to ask why their printer still has the paper with the holes on the side of it and why they're acting in a way where we're so far in the past. So today I'm here to talk about millennial legacies. Because while all of you people might be proud that raise your hands at millennials, you're actually not even that young anymore. The youngest millennial is actually 21 years old, and they are being replaced by Gen Z. But when the millennials leave, they're going to leave a legacy on the world that's going to be unchanged forever. It's going to be something that we're going to look back at 10, 20, 100 years from now and saying, that was a generation that really changed the world. So I'm going to be talking about those legacies, the things that the millennial generation brought to culture, brought to society, brought to business, that are going to change how things are forever, because we aren't going back. I was driving here this morning, and I heard an interview with Howard Stern and Stephen Colbert talking about how fun it is to cover Trump every single night. And what he said is, it's not just about the person that's in office. We aren't going back again. The next President of the United States is going to be communicating with the public the same exact way. They're not gonna stop using Twitter. They're not gonna stop communicating. They're not gonna rely on news conferences anymore. Things have really changed forever. And that really is the case with this generation as well. So I talk very fast. I think I had like 75 slides in 30 minutes. So we. We'll see how it goes. I put my Twitter handle on each slide. So if you have questions, just hit me up over Twitter and I'll get back to you after the fact and I'll hang out afterwards. So gonna take a sip of water and then we'll dive right in. So when we were born, we stared into our mother's loving eyes. We, meaning my Gen Xers and baby boomers. I just missed the millennial generation, unfortunately. But now the millennials who were born, everyone after it, instead of staring into their mother's loving eyes, they're staring into a phone, their mom wants to take that picture, they want to actually capture that moment. And by the time kids are 3, 4, 5 years old, they're dressing better than everyone in this room, becoming social media gurus, being hipsters, and moving to their own little crib in Williamsburg. And by the time they're 10, 11 and 12 years old, this generation is having group status meetings. I have a 10 year old son, 12 year old daughter. The status meetings always have a multitude of devices. It's just crazy to actually think about how intuitive it is for these technologies to really enter the way they communicate. So I don't think these things are ever changing moving forward. And one of the biggest legacies of this generation is something I call status update is the new status symbol. Status update is the new status symbol. In the 90s and early 2000s, people would build their personal brands by their cars, houses, watches and sneakers. If you would roll into that cul de sac listening to Shania Twain and your new Lexus, you, you felt like you owned the world. Because these brands actually communicate to society who you were, your actual status symbol. Just like the chiefs in the villages back in the day who had three stripes versus one to identify who they were, it was the actual stuff that told everybody you had money, you had status in society. If you think about it, before Instagram, if you climbed to a high mountain, if you snuck down the front row of an NBA game, even though those weren't your tickets, but you took a picture to fool somebody, you had it. If you met a celebrity, the only people you could actually share it with were the people who were right in front of you, who you could actually show your photos to. But now, since Instagram, experiences can be shared at scale, which has brought up a trend, and I talk about my book, youth Nation called Diffty, which stands for did it for the Instagram. Okay. Experiences are so powerful in impacting the relationships that you get the jobs that you get. The people are pursuing experiences not even so much to enjoy them, but but to prove to everybody that they were actually there. This is Mission Peak in Fremont, California. Has anybody been to Mission Peak? Okay, Mission Peak's been around for a very, very long time because it's a mountain. But in the past two to three years, there's been complaints from local visitors. Pollution, lack of parking. Why has hiking gotten 10 times more popular? No. Mission Peak, while it looks like these three women climbed the top of Mount Everest, is actually just a quick, leisurely 15 minute walk up a hill and. And it happens to be conveniently located next to two major highways. But what Mission Peak has is a selfie pole at the top that you can climb up and get the ultimate picture. Now everybody's rugged. Now everybody's outdoors. Now everyone is climbing to the top of Mount Everest. Although did they really? That is what's happening right now. People are going on vacations. They're traveling to places. Not only so much, not one person's hiking up the mountain to enjoy the fresh mountain air of Fremont, California. And everybody is going up. To actually get this picture, people in Russia are renting grounded private jets to take Instagram photos. These jets do not leave the Runway. People are getting there to show the people that they're affluent. If you think about it, it sounds funny, but why would people buy a Lexus, which is the same car as a Toyota? Besides the logo on the outside, isn't this actually the same thing? Black Tap, New York City. Anybody been there? When it first opened, the lines were two and a half to three hours. My kids wanted to go, I took them. But I got a task rabbit to wait in line. Why blacktap is so important and people love it so much, is that these Sundays, which cost in upwards of 20 to 25 hours each, create the most perfect Instagram. People want to take a picture of it. You try to get a bite in and you're with a 10, 12, 14 year old girl before they take a picture, you are in grave danger of your health. So blacktop lines around the corner, because they've created a shareable moment, people are not going to experience and wait in line for something that they're not going to be able to share. So you actually need to make it share worthy. It has to be at the center of actually what you're doing. Museum of Ice Cream open in New York. Miami. I see a lot of head nods. San Francisco, Los Angeles. Tickets sold out when they just extended to Miami last week in the span of one minute. Now, when you go to the Museum of Ice Cream, you don't learn about the cows and the pasteurization of ice cream and the history of Ben and Jerry. Nope. There's 10 to 12 rooms in the Museum of Ice Cream which allow you to take the perfect selfie. Like the sprinkle room, which apparently actually, if the sprinkles get on your clothes, they stain your clothes. So watch out for that. But is this the new museum? Are people going to stop going to the Louvre and the Met and the Tate Modern because they can actually just see those pictures on their computer and it's not that cool and shareable. And instead go to something like this. I actually think maybe. And you're going to have people who are romanticists about museums say, oh, that's terrible. Okay? But this is when people are going to spend their time and their money and go somewhere. Building their personal brand is paramount because learning has been democratized by what's on your phone right now. So they actually don't need to go somewhere and see things that they might have needed to go five, 10 years ago. And that's why the Museum of Ice Cream sells out a lot quicker than the Museum of Natural History. As mad as it might make some scholars who, who are in this room. And that's creating a global hospitality renaissance. For instance, there's an app called gtfo which stands for get the flight out on Friday afternoon. You could see how far you could travel for the cheapest amount of money. It's $199round trip to Peru. I guess we're on off to Peru. You're going to take those pictures. Click it off the bucket list, right? Yolo. People go there, take pictures. When people go to Peru or they go to a new market, they're not going to fotors anymore to see where they should actually travel to. They are clicking that location on Instagram and seeing where the influencers and most influential people have actually traveled in that city and where they got the coolest pictures. And that's where they're going to want to go. They're not looking for somewhere where they can dig deep into museum exhibits and spend a day somewhere. They want to take pictures as many different places as possible. Especially now with Instagram story, you don't have to just blow your load on one picture. You can take ten in a day. And that's what people are doing when they're actually traveling to locations. The festival visits is exploding everywhere because travel is so incredibly important. People are shifting their time and their money to places like Tough Mudder, which allows you to pay $350 to climb in dirt in freezing cold water under barbed wire to show everybody that you're a fucking Navy seal. Okay? I've seen some very, very out of shape people go to Tough Mudder, but it's totally cool. Now what's out of business right now? Bally's Health Club. Why? It was a perfectly fine gym which had machines, but you had to pay a monthly rental. But no one's going to be taking pictures of that. That's not going to build your personal brand. It doesn't just stop with tough mudder. There's SoulCycle, there's Barry's Boot Camp, there's all these incredible fitness experiences. Rumble, which is the boxing chain that started here in New York that people are going to. Because fitness needs to be about the experience. It can't just be about fitness itself. Urbanization will forever transform. I misspelled will. Oops. Transform the global footprint. So this young generation has a completely new notion of what the American dream is. The notion of jumping in the car after you got married and met that special someone and driving out to buy a house with a two car garage and create 1.7 children with the white picket fence and the dog is just not what this generation wants anymore. The cities is where this generation imagines themselves living. They are sacrificing the the space and the privacy for proximity and connectivity. So they're moving out of the suburbs and actually into cities. Because in a 24 hour news cycle, the action is not going on in Long island or Westchester. It's happening in New York and it's happening in Brooklyn. In Brooklyn, real estate prices are up 120% in 10 years. In Westchester and Long island, they're up 2 to 5% in 10 years. The livable boundaries of cities are getting pushed further and further outwards. This is Washington D.C. the light blue which you actually see on the table, but you don't actually see anywhere in the image is the working class. The working class doesn't live in Washington D.C. anymore. The notion of the rough inner city blue collar worker is actually getting transformed. The blue collar workers actually living in the suburbs now. The millennial generation, the creative class, they are invading cities. And it's pushing the livable boundaries of cities outwards and outwards and outwards. You, you know, there are places in Brooklyn where you would not want to be walking outside when it's dark out. They're selling two $3 million townhouses right now because people don't want to leave. They're staying in cities because schools are becoming better, it's becoming safer, there's more parks. And because of it, they're staying in cities. Okay, great. Well, what does that mean? It means everything. It's creating massive pressure on mega consumer sectors. Who's going to want to buy a car anymore? Combined with the cost of gas, tolls, parking and insurance, we. When you have nowhere to park it, you're not driving to Target or Walmart anymore. You're ordering on Amazon versus the ease and ubiquity of Uber auto sales are down 1.7% this year. Last year, 2017, for the first time in 10 years, this young generation, and there might be some auto manufacturers that will give me a stat and disagree, but I just know the data that I see and the people that I talk to that buying a car is no longer the right of passage. It was anymore. And it doesn't mean this is not binary. Not everybody's moving to the suburbs. I always get these questions afterwards. It's just a trend that's actually undeniable and the auto data supports it. People aren't buying houses anymore. They'd rather rent this Flintstone looking house on Airbnb so they can rent out and take great pictures in while they rent out their actual apartment. If you think about it, if you want to stay in cities, you need to have Rockefeller type money to actually buy an apartment when you first move into the city anymore. It's kind of out of reach anyway. So people are spending the most amount of money that you spend. Discretionary expenditures, Cars and housing. Well guess what? They simply do not spend the money on that anymore. Instead they're shifting their money to experiences. What does that mean for savings? The bedrock of America's savings was the home. Well, how did that work out in 2008? You have to remember this generation lived through it. They saw their parents stressing out about their houses going underwater. So for them the house is no longer the bedrock of the financial institution and actually how you save. And they'd rather live their life while they're young and they'd rather spend money on on experiences. Anyway, shopping malls are obviously going under and you're seeing it happen everywhere. Trees are actually going in shopping malls. Although I was at the Mall of America during super bowl weekend and that was kind of booming. So again, this is not a binary thing. It was also super bowl weekend. But people aren't having the cars, they're not loading up the back of their SUVs anymore. And that's why you're seeing pressure on shopping malls as well. But this is generating massive opportunity for the service sector. You look at something like Glam Squad, but people are living in cities, they're living in an apartment. Any ladies in here use Glam Squad or men? Don't want to judge. Ok, so what does Glam Squad do? It's an Uber type service. You hit a button, you have a team of stylists do hair, makeup, blowouts for a big night out, bunch of ladies while they're pre gaming right before they go out, you can have a team come in and actually get you all dressed up and ready to go for Glam Squad. It works great. They don't need to pay Main street real estate prices, which are escalating as people stay in cities anymore. For the consumer, they win because they actually never have to leave their home. So the uberfication of services, whether it's handy where you hit a button and they clean your house, or the various, like Wag the dog walking service where you hit a button and they come walk your dog, people don't want to drive to these places anymore. They don't even want to walk to these places. They just want to hit a button and actually have it go to them. If they're going to expend energy, it's going to be when they're spending $350 climbing through dirt. This is Rent the Runway. Has anyone heard of rent the Runway? OK, so now we're at 15% level rent and Runway is a fascinating, fascinating business model. If I would have told you 10 years ago that women would rent and return upscale clothing, you'd think I'm crazy. Caught in the middle. Brands that are caught in the middle, they don't have much of a future. Amazon, as a result of all this, is going to be closer to 2 trillion at the end of 2018 than 1 trillion right now. Their market cap is about 800, $900 million. They're going to become the first trillion dollar company and I think they're going to be closer to 2 trillion by the end of this year than 1 trillion. People are spending more and more on Amazon. Prime is one of the other big status symbols in this country. Amazon prime right now, on average they get about $1,500 a year from consumers. I think that number is going to be pushed up to 7, $8,000 a year in the next two to three years. How? By predictable shopping. They're going to predict what you want to buy before you even buy it. They know you buy toilet paper every three weeks and you're just going to get toilet paper shopped to you. You actually not even have to think about shopping anymore. They will actually just deliver it to you. The Whole Foods acquisition was an incredible acquisition of well lit, refrigerated warehouses in the center of urban areas around the country. And now they're going to get into every individual category. And what that's going to do to Main street, we're already obviously starting to see it right now. What's it doing to luxury doorman buildings what's stacking up Amazon boxes so high that you actually can't even see the doorman anymore? That's what's happening with Amazon. And Amazon Basics is going to continue to put tremendous pressure on low moment categories. Does anyone know what AmazonBasics is? So that's their private label brand. Amazon's saying, you know what, people don't really care about the toothpaste or the batteries or maybe even the shampoo. There's certain categories where the brand just doesn't really matter anymore. So we're going to get to them for cheaper and easier and they're going to put pressure on. And for the CPG companies that make up such a big percentage of advertising, well, they really need to rethink their business model. Because it used to be if you had one good meeting in Bentonville every year and you got enough shelf space, you were good to go. Because people would go by, they would grab it. That's actually all you need to care about. These big CPG companies, they actually don't even have customer data. They just know as long as they can sell to Amazon, they're good to go. But what's Walmart doing? Well, they're selling great value mustard versus French's mustard for a much cheaper price. So while these CPG brands are scared about going up against the big retailers, the retailers are saying, sorry, guys, we have margin pressure as well. Amazon's killing us too. We're going to launch our own private label brands. And all these companies that make up all of your revenue if you're in a service business or all your job opportunities if you're in a brand, they really are in a lot of trouble, more than I think any of us can actually care to admit that they're actually doing. If you look at the most valuable brands of 2017, they. There's no Hershey's, there's no Pepsi, there's no America's beloved brands that we all know of growing up. They're all utilities. Google, Apple, Amazon, AT&T, Samsung, Microsoft. What do they all have? They give you access to data. They're utilitarian brands. They're not brands where somebody else can just replicate it. And actually there's no private label Google, right? Well, there was one, it was Bing, but I don't think it's no longer. But you know, right now, if you're not one of these brands, you're not actually gonna be able to win. And you really have to differentiate your business model. So it's gonna force a whole new wave of innovation. I'm gonna kind of move a little more quickly because I have a feeling I'm running out of time. Has anyone heard of Brandless out there? So Brandless is a company that is causing a lot of waves. They just raised $50 million. They believe in this notion of the barbell economy. What they're saying is that people really don't care about brands. Brands really aren't as important. Now. People could say Brandless is a brand, okay, but what they stand for is not being a brand. And they sell every product for $3. And they're going to bet you're going to want to buy their Maple syrup for $3 versus Aunt Jemima maple syrup for $4.29, especially if you can have a direct relationship with them. And that's actually what they're banking on. So what does that mean for brands in the future of low involvement categories? Away luggage. They're started by two women in their late 20s. I think they're doing 40, $50 million in business this year. $200 suitcases that have an iPhone charger connected to it. Direct to consumer, not selling on Amazon, collecting customer data. Dirty little secret. If you sell your product on Amazon, you have no customer data. Amazon does not want you to have that customer data. And short term, you might sell a lot of products, but long term, you're screwed. Right, so CPG companies, what do I tell them? Well, I tell them that they need to get in the hardware business. Let's take Tide, for example, which is a very popular brand right now because apparently people are eating the laundry detergent. So if I were Tide, what I say to Tide or any company that makes laundry detergent is you're a software company. You're kind of what Microsoft was. You need to be what Apple is, which means you need to control the hardware and the software. And for a laundry detergent company, their hardware is washing machines. And as more and more millennials stay in cities, they actually don't need as big washing machines because they're smaller households. So if I were actually tied, I would buy a company that makes washing machines, a defunct company, make them super small so you can actually fit into a drawer of your kitchen and make them smart machines that only accept the Tide pods. So people don't need them. And it'll be a smart device. And every time it runs out, it, it'll automatically deliver directly from P and G. That's their distribution. That's their new end cap in Walmart right now. And who's their customer? I would think it's related. And the companies that make all these big buildings, that's who they need to go after, put the machine in there. And it's the same thing as Apple getting the phone in people's hands. So that's a completely new. You're telling Procter and Gamble, what do they know about washing machines? Well, they better figure it out pretty quickly because I think that's actually the way In IKEA bought TaskRabbit. Why they want to differentiate. They want the ability for people to actually go in your homes and actually to collect that customer data. So I think whether it's hardware or services, if I'm P and G, and I definitely hope there's nobody in P and G or maybe I do. But if you're selling CoverGirl or you're selling beauty products, well, then buy Glam Squad, because that could actually be a new distribution. So this whole notion that we're building our whole business around Walmart and Walmart's screwing us and we see it, but. But we don't want to piss them off, well, that's really a bad model. And that's what's happening with every CPG company I talk to out there right now. And they really need to disrupt themselves. So will they or won't they? Or will the future next CPG be brandless or will it just be all Amazon basics? Speaking of Amazon, I believe typing is going to be going away. I got into an argument that handwriting shouldn't be taught in schools with a school teacher. I was very polite. But I got into that argument Columbia a couple years ago because kids aren't going to be handwriting for much longer. They're actually typing. I also don't think they should be taught trigonometry or calculus. I have no idea what trigonometry is. My daughter showed me this thing. I'm like, can't we just ask Siri why? Do you actually really need to figure this out while our counterparts in Japan are being taught algorithms. But back to handwriting. I think handwriting should obviously be not taught in two to three years. I actually don't think typing should be taught anymore. Typing is going to be looked at as a thing of the past. People are going to be entering copy and words into a device by actually speaking into it. And there's a reason that Google and Amazon and Apple through Siri and Alexa and Microsoft through Cortana are investing in voice technology because it's going to be 99.99% accurate. And going back to how screwed brands are, does Anybody who has an Alexa in the audience. Ok, for those of you who don't, if you're in this industry, and you must be because you're here, go home, spend $50 and get the Amazon Alexa dot. Just order it and bring it to your house. It'll be the best $50 you ever spent to understand where things are going. You have no excuse not to do that and just play around with it and actually see how it works. And when you do and you try to buy batteries and you say, alexa, I'd like to buy batteries, Alexa will say, I will send you Amazon Basics batteries. And you say, no, Alexa, I want door cell batteries. Alexa will say, I will send you Amazon Basics batteries. What Amazon's betting is that the ease and ubiquity of being able to order without even opening up your computer or you're looking at your phone will outweigh the power of a multi billion dollar brand like Dorcell or Energizer. And are they right? They actually could be hardware, right? Utility, right? Getting to the center, not relying on mom to roll up in the SUV and see your product on the end cap. That's the biggest way that these companies actually need to change that. That's where they need to be investing all their money. And they're not. And one of the reasons why it goes back, millennials are still not in the C suite. And because of it, they just don't see it. The notion of a big CPG buying a washing machine company just would seem insane to them, but they all need to have ecosystems. And the companies with ecosystems are actually the ones that win. And the very nature of mobile devices itself are still going to transform. I don't think we're going to have phones in five years. I think we'll have tablets if we want to watch something on like a video or something. But I actually think that's it. And you could think I'm crazy, but 10 years ago there was no Snapchat, Facebook was barely a couple years old. Fifteen years ago there was no Skype, no Google, et cetera. The rate of change is accelerating so quickly that I could say things on stage right now that you would think I'm crazy. But if I told you 10 years ago that you'd be able to hit a button and talk to somebody in Uganda in high def for free, or you can get into a car and it would take you somewhere without you talking to a driver and walking out, you. You think I was crazy then. And I think the future of the phone is going to look like this. I was speaking at a conference Chicago in December. I almost swallowed one of my AirPods. I almost became a robot. Side note, but I actually think that this is what the future of a phone is going to be. All the computing power is going to be in these AirPods. I think your visual stimuli is going to be contact lenses. Because I think what's proven through Snapchat's spectacles, which was obviously an epic failure, as well as the Google, whatever they were called, I can't remember what it was, but the glasses, Google Glass is that people who don't wear glasses don't want to wear them. Form factor matters. But I think once you have contact lenses, I think you wear the mixed reality, which is there's virtual reality, which is like you're in a whole new world and there's reality, which is like us right now, where augmented or mixed reality, somewhere in the middle, I think is actually going to be the future. And what that means is you're going to have these contact lenses and you're walking by an incredibly high priced apartment in tribeca. You're like, how much does that thing cost? And you actually see it cost $14.8 million on your eyes. It's going to overlay on your eyes. I can actually see if you guys opted in where all the companies work for us. I'm like, holy shit. I shouldn't say that line about Heinz ketchup. So I'll actually be able to see very quickly who all you guys are because it'll connect to your LinkedIn or if I want to see my email, it'll overlay it. That makes sense, right? That's a world that we can all kind of imagine that and the AirPods you kind of have what a phone actually does. And I think that's where the phone is headed. And in a world where you're not looking at a brand or a logo anymore, I think it's going to be interesting to see what happens to a Google who's still getting 95% of their revenue from search. But if Apple has a device in my hand and I say, hey Siri, where's the latest pizza place? Well then Apple can determine who delivers that search. They have all the leverage against Google because I'm not typing in Google anymore. So think hardware is so important. It's so important. That's why Amazon's going deep in hardware. That's why Apple's pushing out homepods. That's why this hardware push is so incredibly important all over again. Especially in the home. You look at Microsoft, they miss with the phone, they miss with the phone. And if they had a great phone, their company and is doing well now would be even doing better. But they missed and Google kind of missed and they tried to buy Motorola to try to make and they missed. And that's where I think Apple is so strong as to have that device in people's hands. The movie her, I just had to throw it in there. Great movie. You're to going, you guys should check it out. It kind of talks about it. So Google's core search business is I think under tremendous pressure right now. And then lastly, because I have a feeling I'm running out of time is I think the tv. We're basically in the two to three year period right now where I think you're going to start to see disruption really happen. I think this end of TV conversation is finally coming and here's why. So article yesterday in New York Times David Pogue wrote that you can spend $40 a month for YouTube TV and basically get the same thing that you'd get for $250 from DirecTV. I was like a holdout on cord cutting. I'm cutting the cord right now because I just don't see the where's the value right now in actually doing. I never turn to a TV station. If you ask the kid what ABC is, they'll tell you it's the Alphabet. You ask them what Fox is, they'll tell you it's an animal. They have no idea what a TV network. No idea. Literally no idea. But where are brands spending 80% of their dollars? TV networks go. Figures. Kids walk up to TVs and they try to swipe the TV. Why? Because you should be able to. And soon you will. Apple and Amazon both announced plans actually sell a TV and when you do, the TVs going to become a giant iPad hanging on your wall. Which means your TV's going to be in a connected logged in state at all times, which is going to create complete havoc in the advertising industry and the media industry right now. This is what Apple TV looks like. It's a bunch of networks. But tomorrow I think this is what the Apple TV looks like. I don't think you're going to see TV networks. I don't think TV networks have much of an existence moving forward right now because nobody knows what they are. It's hard to exist if no one knows what you are now. Not nobody here in this room but the kids who are going to be the new 18 to 34 demographic is not going to know what a TV network is. Instead, you're going to have individuals. The Kevin Hart network, the. The Beyonce network. I had Logan Paul in here, but I don't think he's going to have a network anymore. Shows. If you can create a great show like Billions, go direct sell that directly or obviously sports leagues, because the NFL is the most powerful figure in media right now. I think this is actually the future. And you're going to be in a login Facebook state because the giant iPad's going to know who you are. Which means that even though the NFL, yes, is the most watched program among male viewers, it also is with female viewers. So why do I only see ads for GMC trucks and Bud Light during NFL games? Because the targeting is actually not there. But I actually think that Joe's Pizza should be able to advertise during the super bowl. And I actually think it should be able to target women who watch the NFL. And soon you'll be able to. So this is what I see as programmatic tv. It's essentially just an extension of the Facebook experience. I think Facebook is in a great position as well as LinkedIn because a lot of people forget Microsoft owns LinkedIn now, but from a B2B perspective, to actually feed and deliver that data. But the biggest question I have is in the barbell economy, where I can either watch Billions for free and be exposed to TV spots or pay without, does that mean only the value side of the equation is going to be exposed to TV commercials? What does that mean for the future of TV advertising if a lot of people who don't want to sit through TV spots will just pay $2 for it? So I think that's another huge thing to actually think about moving forward in terms of tv. And then lastly, Hollywood is really where it's at right now. I mean, what's interesting about. I've been in digital since digital was invented. It makes me feel super old. But it hasn't even been that long. But you think about when digital first started, everything was in Silicon Valley. That's where all the heat was. They had to move to Madison Avenue calls. The engineers figured out we have to actually pay for all the stuff. So they went to advertisers. But now it's in Hollywood now content is everything. That's what's drawing eyeballs. One reason why I think Netflix has a big, real big issue we had of it is that all they have is a deep pocket to buy talent. But Amazon has a deeper pocket and when you pay for Amazon prime, you get Amazon video for free. So why would I just pay for Netflix individually? If all you have is a checkbook as your competitive advantage, I think you're in big trouble. Amazon actually has the ecosystem, which is where I think they're going to be able to win and really put a lot of pressure on Netflix. So the big question for me is what's going to happen to the big four companies, Google, Apple, Amazon and Facebook? I think the regulation and possible monopolistic breakups are going to happen various countries around the world. I don't see any other way around it right now. I'm personally not a fan of it, but happened with Microsoft in the 90s and it's just hard to see a world where these four companies can continue to exist and essentially knock out a company instantly. So it's going to be really interesting to see what happens there. That's all I have for you guys. Thank you very much. This is my info. If you have any questions, tweet me, email me. You guys have been awesome. Thank you.