into the cost of just upgrading to 8.8 or even looking to other vendors that are out there like peoplesoft who also have higher ed system. so, i just started asking around. one reason we were given. a new system could take-two years and we don't have that kind of time. our problems were urgent. but this conflicts because you signed a five-year agreement. another reason given was, well, we might not be around in two years so the accjc might sanction us and wonder what we're doing making these big systems investments. that's another failure in logic. because why would accjc sanction the college for expecting to continue to serve its 85,000 students? another head scratcher. (applause) >>> why didn't we even solicit a bid for a new it system? one person without even consulting knowledgeable people about it within city college of san francisco should not be making these no-bid contract decisions with private companies that on the surface don't have the best long-term interest of the students and the faculty at heart. (applause) >> thank you. >>> and i have handouts. >> thank you. next speaker,

i think dave duffield had built eight companies before peoplesoft. >> i have a question about your recentan. are you? >> i have a bet with felix salmon on whether bitcoin is going to succeed or not. >> what does bitcoin look like to you in 50 years? warren buffett think it's gone like tulips. >> wouldn't be surprised if it's gone in 10 to 20 years. he said it ha a tulip feel to it. >> people look at it from a currency stand point and people look it a from a computer science standpoint. >> he was looking at it from the currency stand point. >> the point i understand better is the computer science standpoint and it's a very significant computer science breakthrough in that it solves the problem that we've been trying to solve for 30 years which is how do you transfer not copy but transfer a piece of digital property from one person to another and that could be a stock certificate. it could be a coin. it could be a piece of digital music. >> but mt. gox just got ripped off, how can you prove that you can hold on to it and it can't be stolen? >> well, that is -- people get -- you know, banks