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As I write at the end, if we step back and face the enormity of the torrent, then we have taken the first step to imagining what we might want to do about it.

But I just really think there is a natural extension into other types of media because it's an excellent system for reliably locating and retrieving content.

We have to make the physical music a little more valuable instead of just having a download link and a bunch of songs you downloaded from some torrent site. People try to make the music value-less, and I don't think we're going to stop that train, but the one thing that they can't devalue are things that are in the outside world.

New media is like a megaphone. It amplifies your ability to reach more people.

Direct navigation traffic is by far the most highly targeted form of web traffic available.

To be able to watch something that you start on your television that you then move to your mobile device, I think that's a big benefit for the content business.

3D is a way of organizing things, particularly as we're getting much more media information on the computer, a lot more choices, a lot more navigation than we've ever had before.

I think we have to recognize as an industry that users have a lot more choices and can click away to a lot more media. As a result, the advertising we create really needs to be something users want to see.

The exciting new thing, call it Internet.2, would be where links were updated and moved depending on where people click. That would give you the kind of content screening that you don't get at the moment.