the. long. history. is all cost now are in most cases this is all fresh a thought to find spread out across libya as the country spirals towards civil war incumbent moammar gadhafi is attempting to be in control of key oil rich areas in the east eight hundred thousand people have reportedly been killed during the fortnight by saying. as international calls for end the violence grow louder as fresh concerns over the mounting possibility of u.s. intervention washington is gathering at naval and marine forces near the libyan

border. and hillary clinton says the u.s. is fighting and losing an information war with global media outlets including on t.v. the u.s. state department more billions of dollars from congress to step up its propaganda efforts against the to show off the school. russians all sorts of facebook's mogs. spotlight team talk to u.t. mola he's a single hundred he made russia a significant player in the internet arena that's coming up in just a couple of minutes.

how again a welcome to talk like the interview share on party i'm all grown up and today my guest in the studio is huey 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 you would he returned hell and a few months later he bought into facebook the russians made it out for the americans couldn't refuse this he have a resistible offer for every company he buys his you know you're the director general of d.s.p. global and the first russian venture capitalist in the fortune top fifteen s. during perestroika time employed scientist yuri milner became an entrepreneur started in computer retail but then suddenly quit the business and left the country to start a management in the u.s. and some return to moscow to work in an investment company to some smelt real money

virtual reality and he was quick to invest. with the irresistible charisma he manages to persuade even the most difficult partners to the business you're taking the first russian venture capitalist to make it into the fortune top fifty some of the deals look wild but at the end of the day they brought you read the v.c. of the year. how union welcome to the show i thank you thank you very much for coming from me with thank you. for the. first time in the history of venture capitalism california the v.c. of the year of world was awarded to russian was it was it a shock and if it was for good for you or for americans. well it was a shock for me for sure and very well we're going to be americans. now you have no . but i was very likely 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 a traverse special offer for every company and you always are for more than the others or is it something else and that's not exactly the case. in the first and last month in facebook we were higher than the others but in subsequent investments we actually quite investor what other us fans so our offer was not high. i think it's just sort of more investor friendly than sometimes other funds offer but. you base your decisions here are three years on your intuition

calculation well it's actual ninety percent calculation but it will you can calculate computers can calculate what special value. will have a very strong team very international team it's. going. to of the team members are from india one from germany and one from finland. one from. asia so very diverse it's really global team and because we specialize in a very narrow sector i think we. may be just sometimes do a more comprehensive research just because gas specialist the other funds they don't usually specialize that narrow so so i understand that the problem with

most of the investors in the it's a business in the internet is that they regarded the internet as a whole and were ready to invest wherever it wherever they saw that that this fish of this. well you took like a little little needs 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 work and. everything of all around social so. are you sure that even today the future the future of business and the most money you can make in that lies in the social work 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 a lot because for example all those trying to make their fortune online as far as the statistics say less than five percent eventually succeed spotlight's ability to me the world looks at the new and risky business the. rock stores to apolo directors astronauts on olympic champions should all step aside for the real heroes of all time computing many explain to million fortunes online they peel 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 things book website eighteen year old andree 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 unprepared for media attention and business proposals. of course i received offers basically from u.s. and western adventure pants but actually i don't know yet how to speak to those people i'm not sure what goes they're pursuing they want to invest in the project has a good future i think so too but i'm stuart 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 now that's a giant says facebook and twitter are preparing to issue stocks and go public analysts cautiously reminding them of the dot com bubble huge burst in two thousand and nineteen nineties to investors and thank you aided with internet based

companies as stock prices soared until eventually that const turned into the dot bombs undermining the nasdaq. here you just saw this guy we interviewed him he you say you know you said he had a chance but he blew it is true and i think this he still has a chance to lose it just what was something that. would well. i don't think something was. wrong i think he has given his age is eighteen years old if i'm not mistaken and that he has many more years i have him and i think even with this project many more good things can happen and. i think he has. he has a first mover advantage still because he was actually the first floor for the new video platform and i wish him

a lot of luck you know he has one of the russians so you know you know. he was about the same age maybe a couple of years old drea actually he was a lot older he was when he started twenty one his star was. eighty years old yeah well couple of years. major difference between this guy and this i think there is a major difference between seventeen years old and twenty yes really yes he so that business is so young that a couple of years clearly as though you are too old yes you're too old for the business yes it's a ten percent difference and i think for some difference in this age group actually a council lot. but what are you too old for this business i am too old for this but you still there and you're successful but. to succeed as entrepreneur and as an engineer but maybe not to all too little computer to make investments but

to make investments you should feel i was talking that intuition not only calculate but feel the generation of what they think you should feel the way they feel because the money made the social it was that feelings it is about making it feeling happy or something yet how can you feel that. your next generation or rather previous generation will i think that's basically what curiosity mostly i mean i'm very curious about. how they'll live what the interests of them how they spend time. what is media consumption and how it's different from how will consume media so i think it's mostly was curiosity having us. 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 and i made that phrase so. americans are very good at seeing opportunities so how did it happen that you saw opportunities in america which the americans themselves didn't see curiosity you know what something else i i think it's a combination of factors it's all good or what if you just imagine it's also we started investing in us in the middle of the crisis and it was a little bit depressed view of the world at that time. and. but also i think. maybe one of the major factors is the final had more experience other investors in investing in social networks who invested than for

social networks before facebook and i don't think there was any investor in the world a good time invested in four social networks as we did so we just had a little bit of a head start at that time. and therefore we're rich. three russian and one in poland and they also see it including the polish one i didn't hear nothing but a polish that will be there all successful so far and the polish i was sold last year. yes yes so will your that direction general 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. speech

of your country and republic. russian defense cuts. our secrets to central russia. because of succumbing to the strict.

harsh winter makes please keep the moratorium. on where you can train to be just. a small. push up close up. welcome back to spotlight i'm elder enough and just a reminder that my guest in the studio today is the military the director general of the u.s. to global and the first russian venture capitalist in the fortune fifty list. 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 have you ever

thought here russian era russian invest another american to say you should think about things like like the internet this is good or is it evil. i think it's all the billboards it's like always a double edged sword that some people can use. to make things worse than a lot of people use and to make things better so you as always you. you know. peel if you abuse a coming it can be very damaging to you and you think of using you think you can use you know his pen i mean you can pick someone you know send but there's nothing bad about depend. on the internet so nothing to get it so so so so 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 would never met i'll recommend you to friends on facebook or in contact. or. on mail because actually the statistics shows that ninety percent of the friends on social networks are real friends but our friend here real know real friends somebody that you are friends with in real life your friend with him on social model. so ninety percent then so there's a real. there is russians i know i heard i heard statistics today in the morning that seventy percent of people in social networks in russia have false identity and other stuff that's not true now you have to check it it's it's a system called research the company provider it's over ninety percent have troy

them to my name my name in your of contacts he's lady gaga you know now here really everybody said so me you're saying to make sure i do that. it's not about ninety percent it's it's interesting because it's a self policing community because again if you have a false identity you cannot have real friends. right so because this network has real real friends in the internet it is the friends of you 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 here you make friends with the internet and you don't actually need real because all those guys they were they they look at nights you know it's four o'clock in the morning they say this is what went to school. this is when their life begins yes and i think what happens is that as the number of friends is basically a constant the ever is 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 vanguard number so it's it's a number a little actual established during all kind of research so one 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 they think they think what internet really needs pen especially for you to continue investing and 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 i can be contacted in contact with what will be a literate is it so well you do believe that this is what is going to happen that the pretty soon this sort of a artificial intelligence wall will start will be invented and then we'll know

a little. 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 that change is going to be so drastic but i think artificial intelligence can be useful in many other ways you know it's counsel just you know in your relationships for example that you did not know that you actually mean you know well like you should divorce you why because there's a bit of gear a little like facebook here is that what you're talking just there are they there right there i'm sure fifteen years ago there. were some people yes. but the majority i hope not wants to. why

didn't you oh what you doing in the silicon valley what why aren't you doing the same thing in russia and doing the same thing that you are 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 of american and then for eight years it was exclusively russian and then the last two years it was a little bit of both and look at the start ups here you do start ups today giving away thousands and 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 actually in the works this is something i'm working on great. launching 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 just kind of on a different scale obviously because. because because of the richer work long because you know other countries have had stars like us you know they're much more advanced

. and on the technology front but russia has the advantage in human capital at least 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 got the wrong russian talent is actually very highly regarded locally. actually i care more about the football world cup we're going to mention that if you talk about catching up with what is still a bit in that mission for go today when everything's moving so fast i think i think it was you said that today well in three days the the the volume of information and content the developed in the nets is more than the kids the human race has developed for. for ages is that true yes. i did not came up with the

. ok this is a fact it's a fact but when everything's so fast do you think that a country like russia that's a little bit behind. ever catch up with will who are the united states with japan with countries like that i think of russia as a ball to rethink this talent. which obviously is out there. i think there is a pretty good chart tool pick a significant chunk of this pie you can catch up when you're running if we if we could go to the track and field running ten miles and somebody out there like a one minute head start you can still catch up only for the marathon but if it's sprint then you're one second there i never catch up because the two fast yes i think it's a marathon if it's a marathon this means that more and more people will be making more money like

yourself in this field. i'm sure the kids because information technology is going to be bigger and bigger if you sort 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. i or thing sold when i say virtual will be will become a part of real. or the real. basically a 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 and what i think so i think it will exist i hope it will of the. consumer that there. never was something generational gap he watched news on t.v.

yes i think much news on t.v. all the news are out in the net and they are faster. and then you can choose to select them you can tell who is going to wait for another three hours where the news bulletin goes on and then you hear something about here just like fifty seconds when it will go of what's interesting and then have the rip thirty minutes is about nothing i agree on a little retarded. in the old ways still. myself so i read in books are you still reading books. really really want setting pay pay pay pay pay people don't read in fair books but. how many books do you read. a month like a months in the last few months i have not read so your life. you go demanding the cost but probably because of too much struggling i think you're becoming an

american you know because for russia. it's not enough a book a year isn't it if 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 eric is is russia do you think russia is a place. at which the world's i t think knowledge is of high technology and 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 sanctions in full flight thank you thank you very much for being with us and good luck to you just reminded us my guest today was milner

the doubts general of d.s.d. global and the first russian venture capitalist in the fortune teller fifty that's it for the problem policy if you want to have your sales fart live or maybe you have someone in mind if you think i should do next time to drop me a line of calgary not particularly dark are you and let's keep spotlight interactive movie back with more plays than common summer was going on and so gosh so then they are to. refute. it.

in india all cheese available in the grand central shirts in mumbai the taj mahal in the us the mumbling polish president combining visual made with prison walls home on a beach resort called clothes are going to go on taj mahal hotel charges the actual cement hotel close kind of photo from close up the meridian the leader should be.