We believe the first 10 years of the Internet were a warm-up for what's about to happen.
We are in or are entering TWO cycles instead of one broadband Internet and mobile.
We believe that 10 percent of the internet stocks are undervalued, 90 percent may be overvalued.
Among Internet leaders, we think Yahoo!, owing to its revenue concentration, is most at risk to Internet ad spending trends.
Internet TV is replacing linear TV.
You could take the Internet enthusiasm that was happening in 1999 and 2000 here in the U.S., and in China it was three-to-five times more ebullient.
The internet is the most underutilized advertising medium that's out there.