as her musky this is aviation enthusiasts from around the world are gathering in moscow for an airfield is the stage for the latest causing edge aircraft technology it's a ten knots show which is also renowned for its spectacular performance is by russia's premier pilots. energy giant shell and the british governments are being accused of trying to play down the scared of a major oil spill off the coast of scotland old and she were under tons of holes the will to have spewed into the north sea following a need for me to be the country's worst in over a decades. and india is becoming

a global marketplace for all kids but the old origins are accused of turning a blind eye to the illegal but thriving business people living in the slums say selling their organs is the only way for them to survive up next spotlight groups of how to make amends from social networking. we'll. bring you the latest in something i'm certainly. over. how again a welcome to spotlight the interview shall i r.t.

i'm holding up until late my guest in the studio is milner. two years ago he went to the u.s. to meet young billionaire mark so consider the founder of facebook they didn't talk about money they talked about the future of the net beauty returned hell and a few months later he bought into facebook the russian made it out for the american couldn't refuse this he has an irresistible outlook for every company he buys his unit knows the director general of d.s.p. global and the first russian venture capitalist in the fortune top fifteen just. during three story time employed scientists 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 soon smelt real money virtual reality and he was quick to invest armed with the irresistible charisma and

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 something to do from mild to the end of the day they brought you read the v.c. of the year. hell union welcome to the show i thank you thank you very much for coming from being with a 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 good 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 know but. but i was very like you to be. nominated. there was a very strong at least 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 the travel special offer for every company and yet always offer more than the others or is it something else but 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 for his own intuition or calculation that it's actually ninety percent calculation but if you really can calculate computers can calculate

well what's special that you. will have a very strong team very international team it's. going. to. team members are from india 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 can. maybe it's just sometimes do. more comprehensive research just because we're a specialist so other. than your little a specialized narrow area so so so i understand that the problem with most of the investors in the 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. well you took like a little little and put all your all your intellectual abilities into the small to the small side is that right yeah that's correct and that's the basic we're called the social environment everything revolved around social so. are you sure that even today the future and the future of business and the most money you can make in that lies in the social networking is a 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. 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 luck because for example of all those trying to make their fortune on line as far as the statistics say less than five percent eventually succeed spotlighting of the me the looks and the new and risky business. rock stores straw poll directors astronauts on olympic champions should all step aside for the real heroes of all time computing many explain to million fortunes online the people whose stories about them was reflected in the box office takings last year for the social network a biographical drama describe in the founding of the facebook website eighteen year old andre to you from moscow may become another mark zuckerberg it took him three days to build his chat roulette social networking site women under of users reach

terms of millions he appeared unprepared for media attention and business proposals . of course i received offers basically from u.s. investors and venture pants actually i don't know yet how to speak to those people i'm not sure who would go there pursuing they want to invest in the project has a good future i think so too but i'm still with 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 fail now that's a giant says facebook and twitter are preparing to issue stocks and go public analysts so cautiously reminding them of the dot com bubble huge burst in two thousand the one nine hundred ninety s. investors infatuated with the internet based companies their stock prices soared until eventually that consternation to drop bombs undermined in the nasdaq.

you would just saw this guy we interviewed you hear you say you know you said he had a chance but he blew it is not true i think this he still has a chance to was just what it was something. that would well. i don't think something or terribly wrong i think he has 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 a new video platform and i wish him a lot of luck you know he's one of the russians so you know it's you know.

he was about the same age maybe a couple of years old riya actually he was a lot older he was when he started twenty all of his time was maybe ten years not here well couple of years but one major difference between this guy and this i think is a major difference between seventeen years old and twenty years old yes really yes he saw the business is so young that's how twelve years clearly as though you are too old your top of the business yes it's time for some difference and i think ten percent difference in this age group question becomes a lot. but what are you too old for this business i am too old for the business you know 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 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 happy with something yeah how can you feel that. your next generation all right the previous generation but i think it's basically about curiosity mostly and i'm very curious about. how they live what they're interested in how they spend time. what is their media consumption how does the from from how we consume media i think it's mostly about truancy 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 and you know that phrase so. americans are very good at seeing opportunities so how do they even opportunities in america mostly which americans themselves didn't see curiosity you know what something else i i think it's a combination of fact factors it's all a bit of luck as you know as you mentioned it's also we started investing in your ass in the middle of the crisis and that was a little bit of the pressed your the world at that time. and. but also i think. maybe one of the major factors is that it will have more experience than other investors in investing in social matters moving faster than for 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 including the polish one i don't hear nothing published really they're all successful so far and the polish one was sold last year. yes yes so will you the director general d.s.t. and the first russian venture capitalist in the fortune top fifty spotlight will be back sure agree arthur we take a break so we continue this interview in less than a minute stay with us.

please. get the flood. plane up ok. if. you're the first order. here this is truly studentships it secrets of the islands times and revealed issues of the soviet files on oxy symbol n. we'll. bring you the latest in science and technology from around russia. we'll dump the future covered. for the full story we've got it firsthand the biggest

issues get a human voice face to face with the news makers. closer . to. the language of. the future flights. large sea types to the max air show. welcome back to spotlight i am now going over and just a reminder that my guest in the studio today is the military the director general of the un the first russian venture capitalists in the fortune top fifty list.

he. he 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 this to say 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 bubble edged sword some people use it. to make things worse and a lot of people use it to make things better so you as always you hear. it you know appeal if you abuse a it comes it can be very damaging thing abusing you thing you can use you know is

when you can prove someone's i love you but there's nothing better than to print. out internet so nothing's better 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 fish to friends in facebook or in contact with other more. male because actually the sadistic strolls that ninety percent of the friends on social networks are real friends the stuff around here real people not real friends somebody like you are friends with a real life your friend with him on social network. so ninety percent mental is a real i'm around i don't believe there is really shines oh no i heard i heard statistics today in the morning that seventy percent of people in social networks

in russia have false identity now that that's not true are you sure that it's it's the sister calls research that can be provided it's over ninety percent his true identity my name my name in your of contacts he's lady gaga you know not really everybody said send me your signs picture 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 real friends in the internet it's is the front of you for a few years in real life even somebody you meet yes are we moving to a situation when you actually never meet the people you're in make friends with and connect and you don't actually need real 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 the 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 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 of the actual established during all kind of research so hundred twenty relationships you can maintain 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 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 the thousands in the number of people i can i can be

contacted in contact with what will be a little it isn't so well you do believe that this is what is going to happen the good pretty soon this sort of artificial intelligence will will start to be invented and then we'll know all of it and not 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 official intelligence is going to be sort of enhancement of what we have. and. i don't believe the change is going to be so drastic but i think that if there's the intelligence can be useful in other ways you know it's cancer just so you and your relationships for example you. know that you actually mean you know well that you should divorce the wife because there's been a girl i love my facebook is that what you're talking to just made the right the

wrong choice fifteen years ago. for some people yes. but for majority. 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. of them for eight years it was excusable russia and then the last two years it was a little bit of both it will be the start up here you do startups and you're giving away thousands and tens of thousands of dollars for a start up and you're not doing it in russia or you already are and all this is actually in the works this is something i'm working on right. launching a similar project in russia so you think the perspective of the same sort of

business in russia is also pretty good i am pretty sure it is just kind of on a different scale obviously because. because because of the language sure what blog because you know other countries have had stars like us you know they are much more advanced. on the technology front but russia has an advantage in human capital at least the basic advantage if you look at the world championship on programming the russian teams won six out of the last ten years so russia on the wrong russian talent is actually very highly regarded locally. well actually i care more about the football world cup but when i will mention that if we talk about catching up with what is still a bit of that notion of the said today everything's moving so fast i think i think it was you said that today like in three days the the the the volume of information

and content. developed in the net is more than the kids the human race has developed for. for ages is that true yes. i did mark came up of the group and said 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 ever catch up with will who are the united states with japan with countries like i think of russia as a will to retain the star. which obviously is out there. i think there is a pretty good shot too thank you significant chunk of the spike you can catch up when you're running if we track and field if you're running ten miles and somebody 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 i think you never catch up because astute fast yes i think that's i think is 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 that's the case because information technology is just 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 saw virtual will be will become part of real. and probably real. 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 exist. newspapers

television radio does anybody need them and what i think so i think it will exist i hope all of this because i'm a consumer of that here. then because of the generational gap watch news on t.v. yes i can watch news on t.v. all the news are in the net and they're faster. and then you can choose i mean you can select we can tell who's going to wait for another three hours when the news bulletin goes on and then you hear something about here just like fifty seconds are going to work well what's interesting in there and the real thirty minutes is about nothing i agree i'm a little retarded. in the old ways still. myself so i read in books are you still reading books i am really real books are being paid for a paper paper but 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 line. of code not even cost but probably because of too much trouble and i think you're becoming an american you know because for russia it's not about a book a year is what it is it's not reading books or american a book a year is ok that will 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 i think knowledge 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 the internet and russia is already in my hand told five global superpowers. together with

us china japan south korea think actions and thoughts like thank you thank you very much for being with us and good luck to you just reminded us my guest today was unity milner of the doubt general d.s.p. global and the first russian venture capitalist in the fortune for fifty and that's it for doubtful politics here if you want to have your sales spotlight or maybe you have someone in mind for you think actually the next time to drop me a line of calgary not party are you and let's keep spotlight interactive movie that it was president coming from a lot going on in side russia so then they are to take your kid.

in india policies available in the move going month joy feel good songs see some of us think if we heard some.