however again they are welcome to spotlight the and soon we shall on r t m l bring up and today my guest in the studio is unity milner. two years ago he went to the u.s. to meet young billionaire mark zuckerberg the founder and owner of facebook they didn't talk about money they talked about the future of the net beauty return zero and a few months later he bought into facebook the russian made it out for the american couldn't refuse this he have and resistible offer for every company he buys his unit mildred the director general of d.s.t. global and the first russian venture capitalist in the fortune top fifty list. during perestroika time employed scientist yuri milner became an entrepreneur started in computer retail but then suddenly quit the business and left the country he started management in the u.s. and soon returned to moscow to work in an investment company he soon smelt real

money virtual reality and he was quick to invest armed with the irresistible charisma he manages to persuade even the most difficult partners to do business you became the first russian venture capitalist to make it into the fortune top fifty some of the deals with wild but at the end of the day they brought you read the v.c.r. the year. hello union welcome to the show hi thank you thank you very much for coming from being with us thank you well for the first time in the history of venture capitalism california davis c.e.o. of the year award was awarded to russian was it was a shock and if it was for you or for america. well it was a shock for me for sure. and very well what about americans that i don't know you don't know but. but i was very lucky to be. nominated.

there was a very strong list of the people who were nominated and you know i was like even to be on this list. why does your investment strategy work so well is it is it true that you have that you have a special offer for every company and you always offer more than the others or is it something else well that's not exactly the case in. the first and last month in facebook we were higher than the others but then in subsequent investments we actually quite invested with other big u.s. funds so our offer was not higher. i think it's just sort of more investor friendly than sometimes other funds offer but. you base your decisions here are freeze on pure intuition or calculation no it's actually

a ninety percent calculation but if you really can calculate computers can calculate well what's special about you. will have a very strong team very international team it's. you know two of the key team members are from india one from germany and one from finland. one from. asia so the team is very diverse it's really global team and because we specialize in a very narrow sector i think we. may be just sometimes do. more comprehensive research just because we're specialized. so our other funds the usual specialized that narrow it is so so so i understand that

the problem with most of the investors in the i.t. business in the internet is that they regarded internet as a whole and were ready to invest wherever it wherever they saw that there's fish in this one while you took like a little little need and put all your all your intellectual abilities into the small to the small sector is that right yeah that's correct and that's basically called social influence everything revolving around social so. are you sure that even today the future of the future of business the most money you can make in that lies in the social networking is going to change well we view it as a big trend for the next five ten years and we believe that social is going to be the underlying platform and a lot of internet businesses will be rebuilt around social. well.

calculation is good but still i think there is something more than calculation because lots of people have good teams lots of people can calculate but i think there is something about your intuition that maybe just because for example of all those trying to make their fortune online as far as the statistics say less than five percent eventually succeed spotlight's ability me that looks at the new and risky business. the. rock stars top polo directors astronauts on the olympic champions should all step aside for the real heroes of all time computer lanyards two million fortunes online the people the stories about them was reflected in the box office takings last year for the social network a biographical drama describing the founding of the facebook website eighteen year old andre to an off sick you from law school may become another mark zuckerberg it

took him three days to build his chat roulette social networking site when the number of users reached tens of millions he appeared on prepared for media attention and business proposals. of course i received offers basically from u.s. investors in venture funds but actually i don't know yet how to speak to those people i'm not sure what goes their pursuing they want to invest thinking the project has a good future i think so too but i'm still hesitating so coming up with an idea for a popular site is only part of the deal the next step is marketing and being a computer genius is not enough here maybe that's why ninety five percent of those who try to make a fortune online sale know that site giant says facebook and twitter are preparing to issue stocks and go public analysts so cautiously reminded them of the dot com bubble burst in two thousand nine hundred ninety s. investors and faith did with internet based companies as stock prices soared until

eventually dot coms turn into dot bombs undermining the nasdaq. you just saw this guy we interviewed him he you say you know you said he had a chance but he blew it is not true not insists he still has a chance to learn. what it was something good will go wrong with well. i don't think something will terribly wrong i think he's given his age he is eighteen years old if i'm not mistaken and he has many more years ahead of him and i think even with this particular project many more good things can happen and he i think he has. he has a first mover advantage still because he was actually the first two or for this new video platform and i wish him

a lot of luck you know he's he's one of the russians so will you know that you met . he was about the same age maybe a couple of years old drea actually he was a lot although he was when he started twenty one his time here was maybe ten years old yeah well couple of years what is going to major difference between this guy and this guy i think there's a major difference between seventeen years old and twenty years old there is yes really yes so the business is so young there are a couple of years kelly as though you are too old you want to over the business yes it's a ten percent difference and i think ten percent difference in this age group actually counts a lot. but but are you too old for this business i am too old for this business here but you still there and you're successful but i'm too old to succeed as entrepreneur and as an engineer but maybe not to all to continue to make

investments but to make investments you should feel i was talking about intuition not only calculate but feel the young generation of what they think you should feel the way they feel because the money made the social that was about feelings it is about making it feel you had been or something yet how can you feel that. your next generation will rather previous generation will i think it's basically about curiosity mostly i mean i'm very curious about. how they live what the interest of them how they spend time. what is their media consumption pattern and how it's different from how we consume media so i think it's mostly about curiosity than anything else. great. great

words. said by an american many years ago is from that mistake and if i knew there was something that is not available in america i would become a billionaire you know i like that phrase so. americans are very good at seeing opportunities so how did it happen that you saw opportunities in america mostly which americans themselves didn't see curiosity or what is something else. i think it's a combination of factors it's all a bit of luck as you as you mentioned it's also we started investing in the u.s. in the middle of the crisis and that was a little bit of a depressed view of the world of the time. and. but also i think. maybe one of the major factors is that at that time we had more experience than other investors in investing in social networks we've invested in

four social networks before facebook and i don't think there was any investor in the world at that time that invested in four social networks as we did so we just had a little bit of a head start at the time. and the four were russian. three russian and one in poland and they also see things including the polish one i didn't hear nothing about it but. they all successful so far and the polish one was sold last year. yes yes so. you're the director general of d.s.t. global and the first russian venture capitalist in the fortune top fifty spotlight will be back shortly after we take a break so we continue this interview in less than a minute stay with us the. wealthy

british style some time to time the.

market why not. come to. find out what's really happening to the global economy with max concert for a no holds barred look at the global financial headlines tune in to kaiser report on our. my. welcome back to spotlight i'm al green of and just a reminder that my guest in the studio today is the military the director general of d.s.t. global and the first russian venture capitalists in the fortune top fifty list. beauty. you are one of the people that is investing money. and your money is developing the internet making it more and more part of our everyday lives is every other thought here a russian here

a russian invest another american reza so you should think about things like like the internet is it good or is it evil. i think it's a little bit of both it's like always a double edge sword that some people use. to make things worse and a lot of people use it to make things better so you as always you have a. you know it feel that if you abuse or it can it can be very damaging to your whole thing abusing you thing you can use you know his pen i mean you can pick someone violent you know send but there's nothing bad about the person that. internet so nothing's about it so so so so what for example what would you prefer what would you recommend you or your kid having a friend or having fifty friends in facebook you know the so-called friends i'll

really never met i'll recommend fifty friends in facebook or in contact for real or or even on mail because actually the statistics show that ninety percent of the friends on social networks are real friends. around here real people know real friends so somebody that you are friends with in real life you are friends with him on social network. so ninety percent so there's a real other around i don't believe there is really i find as i know i heard i heard statistics today in the morning that seventy percent of people in social networks in russia have false identity another song that's not true are you sure have to checked it's. the sister called research that can be provided it's over ninety percent have troy my name my name in your of contact is lady gaga you

know now here really everybody is very very serious so me you're saying to make sure i do that. you know. it's not about ninety percent it's it's interesting because it's a self policing community because ok if you have a false identity you cannot have real friends right so because this network is real the real friend in the internet it's the friend that you knew for a few years in real life even somebody you meet yes but are we moving to a situation when you actually never meet the people yet you make friends with the internet and you don't actually need to realize because all those guys they were they you look at nights you know it's four o'clock in the morning they say this is what when the school is when they're this is when their life begins yes i think what happens is that as the number of friends is basically constant the average number of relationships that any every person has is about one hundred twenty it's

it's a fundamental constant over the last few thousand years and it's called the dunbar number so it's it's a number that was actual established during all kind of research so a hundred twenty relationships you can maintain in your life given the kind of the size of the brain you have everything that goes with it i think i think what internet really needs and especially for you to continue investing in growing is artificial intelligence because because the sooner i get access to artificial intelligence the number of my friends race to thousands and the number of people who i can where can be contacted in contact with what will be a limited is it so well you do believe that this is what is going to happen the pretty soon this sort of artificial intelligence will will start what will be invented and then we'll know living. pretty soon i think maybe of the next ten

twenty years. but i don't believe this will change lives so drastically as you said i think i'd official intelligence is going to be sort of in the hands of what we have. and. i don't believe the change is going to be so drastic but i think artificial intelligence can be useful in many other ways you know it can suggest to you in your relationships for example that you didn't know that you actually mean you know well that you should divorce your wife because there's a better girl alive my facebook is that what you're talking about this will suggest that there are may the right there i'm sure fifteen years ago. for some people yes . but the majority i hope all your wants to. why didn't you what you doing in the silicon valley what why aren't you doing

the same thing in russia i'm doing the same thing and you are yes in fact it was the other way around i started investing in russia ten years ago and then you moved away and made your millions. and then for eight years it was exclusively russia and then the last two years it was a little bit of both and one of the startups here are you doing startups today giving away thousands or tens of thousands of dollars for a start up first and you're not doing it in russia or you already are you know this is actual in the works this is something i'm working on right now to launch a similar project in russia so you think though that the perspective of the same sort of business in russia is also pretty good i'm pretty sure it is is just kind of on a different scale obviously because. because because of the work which are way long because you know other countries have had started to like us you know they're much

more advanced in on the technology front but russia has an advantage in human capital it was the basic advantage if you look at the world championship in programming the russian teams won six out of the last ten years so russia on the wrong russian talent is actually very highly regarded globally. actually i care more about the football world cup we're going to mention that if we talk about catching up but i want to know what is the better not mention of a lesson today when everything's moving so fast i think i think it was you said that today like in three days the the volume of information an accountant developed in that is more than the here the that the human race has developed for. frazier's is that true yes. i did not came up with the. ok this is a fact it's

a fact but to date so when everything so fast do you think that a country like russia that's a little bit behind. can never catch up with will who were the united states with japan with countries like that i think of russia as a ball to retain the talent. which obviously is out there. i think there is a pretty good chart to take a significant chunk of this pie you can catch up when you're running if we if we can there's a track and field if you're running ten miles and somebody out there like a one minute head start you can still catch up only for the marathon but if a sprint and you're one second there are and you never catch up because the still fast yes i think that's i think it's a milestone if it's a marathon this means that more and more people will be making more and more money like yourself in this field. i'm sure that the kids because information technology

is going to be bigger and bigger piece of global g.d.p. does that mean that money will be will be drifting from real business from real life into into virtual life into virtual business because more money more opportunity. things sold but i think virtual will be will become a part of real. convert part of the real. world basically virtual is another way for real life to express itself so i think we're kind of really talking about the same thing. media do you think media will exists. newspapers television radio does anybody need them anymore today i think so i think it will exist i hope it will exist because i am a big consumer of that here. maybe because of the generational gap if you watch news on t.v. yes i can watch news on t.v.

all the news or are in the net and they are faster. than ever and you can choose how you can select them on television to wait for another three hours when the news bulletin goes on you're there and then you hear something about here just like fifty seconds of when what will or what's interesting and then the rest thirty minutes is about nothing i agree i'm a little retarded. in the old ways still. myself so i reading books are you still reading books. really real books are being paid to play paper paper books i am reading paper books but less so. how many books do you read. a month like a month in the last few months i have not read a single one. you could not in a class but probably because of too much struggling i think you becoming an american you know because for russia. it's not about a book

a year isn't it it's not reading books or american a book a year is ok we'll catch up i think it will be catching up ok now air is is russia do you think russia is a place. at which the world's are i.t. technology is a particle you should be looking because we talk a lot today about innovation about building our own silicon valley outside moscow do you think this is going to happen well i can only. see. somewhere where you know i know what's going on which is internet and russia is already in the top five global superpowers. together with us china japan south korea saying russia isn't part thank you thank you very much for being with us and good luck to you just a reminder that my guest today was milner of the doubt general d.s.p.

global and the first russian venture capitalist in the fortune top fifty and that's it for doubtful all of us here if you want to have your sales floodlight or maybe you have someone in mind who you think i should do next time to drop me a line of calgary not at our t.v. diet are you and let's keep spotlight interactive movie back with more than a month i was going on ten so gosh so then they are to take that leap. we'll. bring you the latest in science and technology from around russia.

we've got the future covered.

as colonel gadhafi once again refuses to be prised from power a humanitarian crisis is being played out on the libyan border. we've come to the region to find out firsthand how thousands of people are coping as they see they so many lives join us in a few moments. as the flood of refugees also reaches europe oil prices spike and their fears of radical islamic group take hold hold and look at what implications the young breast could have been far beyond the reach. of the clash of the news titans between america and the world. the u.s. secretary of state hillary clinton says the u.s. is in an information war with foreign media and is losing it among those who are winning the war she named r t i'll be back with more in just a few minutes. live

from our studios in moscow you're watching r t thanks for joining us now the libyan leader colonel gadhafi is promising more violence if u.s. or nato forces there to intervene well it's his latest salvo as he bids to cling to power meanwhile the u.n. is warning of a humanitarian crisis as thousands of libyans flee across the border to tunisia. has more on the situation in the region. at least one hundred eighty thousand people who have so far fled libya and some seventy five thousand of them arriving here in tunisia most of them off foreign labor as they are being housed at the border point intense where they were stealing food and medical supplies aid workers who are on the scene are warning that this is reaching crisis point and we're hearing reports of crisis.