but something cautionary about the idea of exotic new payment systems. the whole society depends on the stability of the monetary system and if there was something that disrupted that -- a dollar bill taken out of your pocket suddenly became worthless or there was a big inflation, the level of havoc that we would have would dwarf anything we have seen, the meltdown in 2008 would be nothing. there is a lot to be protected there and the country and the world has to proceed quite carefully. the other thing is there are interesting payment systems. in kenya you can make mobile payments very easily and there are a lot of not bank people. the cost of those payments is in or miss, i have in mind that it

costs like 30% to make a payment. that is not the kind of percentage we are used here, you write a check in the cost of running the check is very less than that. there is going to be an x oratory process and i think we need to be very cautious. -- exploratory process and i think we need to be very cautious. >> we're seeing a first wave of the internet and 85-2000 was the coming-of-age in the got everyone connect and the last 15 years was the second wave building on top of the internet. facebook and twitter have been the phenomena and the third wave will be integrating the internet seamlessly and almost every

aspect of our lives like internet of things, health care, transportation, energy and food. and a lot of sectors of our economy that are significant. it will be different and builds on what you said in your book -- three things that will be different, first you will need partnerships. you cannot go it alone to change the health care system, you have to partner. second is policy, you have to engage with government and both -- both as regulators and customers. there is a bias in the entrepreneurial world in silicon valley that we don't like government, too bad. the third is perseverance. there have been some product

services that have been overnight successes snapshot being the most recent example in the next wave will require more perseverance. it will require more partnerships or engagement on the policy level and more perseverance. >> it reminds me of a line i contribute to you, agent without execution is hallucination. you always contributed to thomas edison but i search for a. -- for it. >> i said for 25 years that

thomas edison said that but another idea is a african proverb, if you want to go quickly you can go long but if you want to go far you must go together. that's different competitors working with government and not often -- that will drive the next wave. >> we have a few minutes left but let me ask you, as you sit on the board and look at the internet, what gives you the most excitement or the most worry about what may happen to the internet? >> one of each -- the excitement of dramatic expansion, by some measures half the people in the world are using the internet in one form or another. it feels weird but you can have a conversation about how you get the other half on the net and in some sense that is like looking at completion.

there are a lot of difficult when you deal with the non-adapters and the digital divide but nonetheless you are talking about the possibility of a world that is ready well-connected globally. the difficulties are that the internet become so in ordinance that apropos, you have politicians and eight money interest concerned about control. corporate and government and each with their own interest and those interests are different around the world. in some cases some governments what a lot of surveillance and in other cases they want to keep content out and we will have a difficult period. we are in a difficult period sorting all of that out. there are a lot of downsides

possible and if we are lucky wills you are away from all of that. -- we will steer away from all of that. typically, and most developed countries one does not ask the question, are you one the electric grid? the same thing will eventually happen that it won't he a subject for -- are you on the internet? of course you are on internet but what apps do you have? >> i know the commerce secretary gave a good talk here but spoke to you all and put a finger on the very problem 2 -- too many other interest. >> she graced our meeting and another meeting in los angeles and she gave up rock of socko top -- rock em sock em talk.

>> steve, we woke up's morning and you were in ohio on tv, is plain whole thing and this will be our last question, tell us what you are doing now. >> just trying to make sure we remain the most innovative nation that is not just fueling the ideas of entrepreneurs in a few places but recognizing there are great entrepreneurs and ideas all over the country. this year 60% of venture capital will go to restate, yet 76% of fortune 500 companies are in the other state. there is an imbalance and we need to get capital spread more evenly across the country. to create a lot of different things that make it possible to start companies there.

i did this summer with the atlantic to visit nine cities on a bus tour detroit, pittsburgh cincinnati, minneapolis, deadline, kansas city, st. louis, all great cities but not just in the past but in the future because we need to recognize that and celebrated. this is not to be negative about silicon valley, but 50 years ago detroit was silicon valley. that was the most innovative city at the time and silicon valley was orchards. 100 years ago, it's for was silicon valley because it was the steel capital powering the industrial revolution. 200 years ago america itself was a start up but we let the weight in the industrial revolution and we led the way in the digital revolution and that's now why we

are the leader of the world with the leading economy. we need to be the most innovative entrepreneurial nation and we want to try on a policy level get is like immigration reform passed. it is really important that we all do whatever we can to embrace the next generation of entrepreneurs wherever they might be to provide the capital and make it easier to attract the talent and shyness not light on what we might be doing. -- and shine a spotlight on what they might be doing. it is pretty important. [applause] >> thank you. >> in 2006, c-span aired a documentary titled capital which gave viewers an in-depth look at the building and its history.

>> all the way to the right is the southern wing of the building. as you make your way south today called statuary hall you leave the boundaries of the chamber that was used from 1807 to 1857 and come to the south wing extension headed toward the doors of the current house chamber originally opened up in december, 1857. >> the gentleman from michigan is recognized. >> this congress must not walk

away rum its role. this is a >> bill that deals with constitutional right. >> i urge my colleagues to support this bill. >> the chair recognizes the gentleman from pennsylvania. >> members leave -- please remove their conversations from the war. -- from the floor. >> we meet at a location selected by george washington. >> we teach about the lace, the things of dynamic that happen here is unique around the world. >> the legislative body is like a heart, it comes and goes and if you had time lapse photography would be fascinating to watch it go like this. >> the house of representatives

and the united states senate there are some bright ones and dumb ones and they are good and bad and the have all the foibles of the american population. >> you don't come here to fail, you want to make a difference. too often americans think of them as criminals. you know the famous joke of mark twain who said in the united states we don't have the criminal class except for congress. they are windbags and they care only their own interests, they are greedy and such. >> this house is where we fight the battle of ideas and at the end of the day you make the laws that govern the nation. >> i cannot help but look over that chamber and think of previous debate, debates about going to world war ii or coming

out of the depression and debates about world war i and the time when guys like joe were here fighting the progressives in doing what they had to do. it is an interesting place. it is steep in history. >> the house is the people's house and members have to remind themselves. there have been how many thousands of predecessors? the history of this chamber and its traditions is what constitutes for many their love and affection or the institution. >> every day i walk under the floor of the house and i see the american flag and literally the

hair on the back of my neck stands up. >> this is where the kennedys stood and where president reagan stood and president clinton. this is where queen elizabeth stood and resident mandela. -- president mandela. comes through the door and goes around to the first podium and he passed the address to the speaker and to the vice president. >> this place is recognized all over the world. >> [inaudible] >> this is a working building and this chamber is a working chamber, but there is so much you cannot see on television that when you visit the chamber it opens your eyes very much

like the experience of seeing something written on the age and see it come to life in a play or museum. it is a wonderful example of how the day-to-day activities that are so important to the running of the nation and the furthering of our goals as a nation are held up by the declarations -- they don't even begin to describe how important they are.

i want to get the measurement. >> when i walk in the first things i notice are the symbols that are in their. the cornucopia next of the clock -- the traditional american symbol of abundance. there are stars the united states and the stars & stripes. all these little rods were bound together in agent rome individually one would snap but put them together and their strong. the traditional symbol of the roman government in which the people rule.

in the chamber, raise your eyes up and see this one silhouette almost of an eagle with its wings spread. it is up in the sky and like a skylight although it is covered from behind, it is not open to the heavens but it is a wonderful eagle and the thing i know most about it is this thence that spreading its wings over the day-to-day work of the congress are great aspirations and symbols of the nation, foremost among them of course is the american bald eagle. when congress is in session the mace is also there. it to key is a bundle -- it too is a bundle of rods with an eagle on top of it.

>> i believe traditions are important because when you forget about the traditions you forget about the flavor of this place. the mace is an interesting adding -- every time i see the speaker of the british house of commons i accuse him because in 1814 when the british earned the capital down they stole our mace. if you read the stories of warmer speakers, when this place got rowdy or there was a fight on the floor you had to present the mace. so it is a symbol of what this country has invested in the congress, the power of congress and people getting things done. >> members please take your seat s. >> i always have to lane to

students about what is going on on the house floor in the rollcall. this is america coming together like the stock exchange of ideas. the hubbub and discussion -- there is a lot of is this actually occurring because it is one of the few chances member has to find another member. you can see all of this activity in a very exciting time and if the people in the gallery say -- why don't they sit in their seats or behave themselves and yet it is the american exchange. it is very alive and a very human institution for all that is good about that and bad about that. >> there are 435 in the house

and you cannot go around and see everybody and you cannot call them all because there are two key many. every time i go i'm looking for somebody. that is what happens and it does get loud and seems unruly. that is the way a legislative body functions. but we don't vote from our offices or districts is the one thing about technology, if it disconnects people from learning to tolerate and to ask for forgiveness when you need to that is a problem. >> they put in a big scoreboard and it reminds the of a baseball stadium -- the yellow and green lights next to their names and a count going on -- there is more drama because of that, all of the people pouring in and not knowing how the vote is going

and shouting in the commotion. the senate still votes by voice. its nature is very different. the different in the temperament of the two bodies is almost exactly the same. >> when we look over the chamber today, like a birds eye view, we see something that looks vaguely colonial. but a 257 when the space was the same, the architecture has that same what is inside is very different. one of the big inferences you would notice is that the members sat at desks with chairs. today there called wrenches their seats were people said but

since the chamber itself was the office for each member at the time they had desks. the other change that we see in the chamber today is a member from 1857 that came back to life he would be very surprised. colostrum is a piece of beautifully carved wood with some of the words of the great aspirations of our nation. words like justice. at the time, in 1857, the height of showing your architectural respect for the institution would be to create something in marble. the capital itself is white and gleaming and you think of it as marble because it shows the timelessness for the endeavor of the greek and roman temples.

so the rostrum was made of marble and it was significantly smaller as well. we have so many people doing so many jobs there are a lot more folks. you can look at what is going on in the house of representatives. when you go to the chamber yourself and sit in the gallery you're up high and you have the perfect view. >> right above the speaker's podium is a profound quote from daniel webster. >> when you look straight up around the wall from where the speaker said you can see along the corners a quotation from daniel webster. it was and oration he gave -- an

oration he gave in washington dc , a wonderful reflection on what is in horton to us and what we consider to be one of the reasons we are here as citizens and the recent members of congress are here and something like many symbols in the capital, members can look at every day to be reminded of the hype to which they are called -- high purpose to which they are called. the important people throughout human history who created great law and great advances. the other thing i notice most are the posters of washington and lafayette. he had been such a young man during the revolution that as late as the 1820's he was still around and taking. -- around and kicking.

at that time, that picture was presented to the house of representatives. he was the first foreign dignitary to address the congress and because he had been such a good friend of washington as well as one of his strongest allies there is the portrait of washington which was commissioned to match the portrait of lafayette. that is the way the example of how our history continues in a certain way. >> it is here that people can make a difference. i think that is what every member of congress has to recall. they have been given a gift by their constituents to come and make a difference and they

should spend every day toward that end. when they fail to do that they have failed a member of congress and they have failed the american people. >> it is not just what we do in the present, not just the decisions we make that affect present life, it is part of being the thread of the cloth of the history of america. >> it is a great honor to serve in this institution. >> this place is unusual and all the world is here you can come in and have spirited debate and you can disagree and adult with words and ideas and that is what the system is about stuff of all the congress process is about. we don't settle it with pitchforks or guns, here is the

place you can come and have that battle of words and ideas. ♪ >> the 114th congress gavels in this tuesday at noon eastern. watch live coverage of the house on c-span and the senate live on c-span2 and track the jeez -- congress. new congress, s access on he spent. >> next, live, your calls and comments on "washington journal." the discussion on race relations in america.

>> tonight, janet margay, on the status of immigration in america, reform and her personal story. >> i had the great privilege of experiencing the american dream in this country, born in kansas and my parents came to this country in the very early 50's my parents came from mexico with no money and very little education and my dad had an eighth grade education and yet they believed in the promise of this country and they were seeking better opportunities for their children and so they worked really hard and sacrificed as so many latinos

and hispanics have done because they wanted that at her future for their children. they taught us important values that have been our guide for me and my siblings. they taught us the importance of family faith community, hard work sacrifice honesty integrity. all of those were important values. >> tonight on c-span's "q&a." >> this morning, a political roundtable with brian the neighbor -- brian nienaber and stefan hankin. and later the radio show host predicts the economic stories in

2015. "washington journal" is next. ♪ host: good morning. present obama and the first family returning to the white house. they are flying overnight from hawaii after two_week christmas break. on tuesday, president obama will meet with mexico's president. then, he will hit the road. the focus, jobs, the economy, and homeownership. president obama and vice president biden will be in tennessee.