a mint from social network. will. review the latest in science and technology from the realm for sure. we've got the future covered. however again they're welcome to spotlight me and so we shall on our 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 to convert the founder and owner of facebook they didn't talk about money they talked about the future of the net beauty returns how

and a few months later he bought into facebook the russians made it out for they american couldn't refuse this he have an irresistible offer for every company he buys his unit mildred the director general of d.s.t. global and the first russian venture capitalist and the portion 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 ahmed 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 you wild but at the end of the day they brought you read the v.c. of the year. hello union

welcome to the show hi thank you thank you very much for coming from the with thank you well for the first time in the history of venture capitalism california davis c. 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 show. 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. the 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 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 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 three years on pure intuition or calculation no it's actually a ninety percent calculation but if you really can calculate computers can calculate world-war what's special that 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 the very in they're all sector i think we. may be just sometimes do. more response comprehensive. just because we're specialized so other fans the usual specialized narrow media says 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 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 in from everything involving around social so. are you sure that even today the future of the future of business and 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 of eventually succeed spotlights ability me that looks at the new and risky business. the. rock stores to apolo directors astronauts on the olympic champions should all step aside for the real heroes of all time computer many x. making more two million fortunes online. 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 reach tens of millions he appeared unprepared 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 took cautiously reminded them of the dot com bubble burst in two thousand the one nine hundred ninety s. investors and faith traded with internet based companies as stock prices soared until eventually dot coms turn into dot bombs undermining the nasdaq. you just saw this. interview term he used so 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 did go wrong. well.

i don't think something one terribly wrong i think he is 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 you may have to 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 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 is 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 watch over the business yes it's a ten percent difference and i think ten percent of the funds in this age group actually counts a lot. but are you too old for this business i am too old for this business here but you still there and you are successful but i am 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 generation of what they think you should feel the way they feel because the money made the social it was about feelings it is about making it about feeling happier 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 the 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 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 you know what something else i i think it's a combination of factors it's a little 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 at that 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 of investor than for social networks before facebook and i don't think there was any investor in the world at that time that invested and for social networks as we did so we just had a little bit of a head start at that time. and the four were russian. three russian and one in poland and they also see it including the polish one. nothing but.

they're 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. mission . critical should be free. for charges free. free. free. free. download free broadcast live video for your media projects

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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 have you ever thought here russian era russian invest another american vesa 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 edged sword 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 abuse anything you can do you know is i mean you can pick someone violent you know send but there's nothing bad about the pen yet another headline from 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 will really never met i'll recommend this to friends in facebook or in contact with other or. on mail because actually the statistics shows 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 i don't know i don't believe there is rather shyness i know i heard i heard statistics today in the morning that seventy percent of people in social networks in russia have false identity in other soccer that's not true are you sure have to check that it's it's the sister called research that can be provided it's over ninety percent have troy then to my name my name in your of contact is lady gaga you know now here really everybody has a very serious so in 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 you know the life yes but are we

moving to a situation when you actually never meet the people you're you make friends with and the net 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 all the 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 well it will be a limited is it so well do you 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 need you know well that you should divorce your wife because there's a better girl a like a facebook it is that what you're talking about this will suggest there may be 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 in america then for eight years it was exclusively russia and then the last two years it was a little bit of both and whatever start ups 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 language your work long because you know other countries have had started to like us you know they're 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 in programming the russian teams won six out of the last ten years so russia and the raw russian talent is actually very highly regarded globally. well 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 the net is more than the here the human race has developed for. frazier's is that true yes. i did not came up with that ok this is a fact it's a fact but today when everything so fast do you think that a country like russia that's a little bit behind. can never catch up with will do with 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 pick 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 or if a given our fine but if a sprint and you're one second there are and you never catch up because as to 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. i think so 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 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. and then and you can choose i can select them they can tell who is going to wait for another three hours when the news bulletin goes on here that day and then you hear something about it here just like fifty seconds of when what will or what's interesting and then i had the read 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 and reading paper books but less so how many books do read. a month like a month in the last few months i have not read a single one of your code not in a class but probably because of the maestro and 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 is is russia do you think russia is a place. at which the world's 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 and the russians and talk like thank you thank you very much for being with us and good luck to you just reminded us my guest today was a beauty millner of the doubt general d.s.t. global and the first russian venture capitalist in the fortune teller fifty that's it for dow all of us here if you want to have your sales spotlight or maybe you have someone in mind who you think i should do next time to drop me a line of cal going up and party t.v. dad are you and let's keep spotlight interactive movie back with more plays than i'm a fan of what's going on and so gosh so then they are to take. it. in

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