serious radio, microsoft, apple starbucks hbo comedy central and any of the other 300 plus cable networksnow entertaining us every day. even during the great recession americans spend considerably more an entertainment than they did 40 years ago. that means more jobs for artists, actors comedians directors documentary filmmakers, video game creators and -- developers and just to give you an example, you may not know what this is. this is one of the most popular apps for the iphone. it is called i.d. or and if you scroll this into your iphone you can make it look like you are drinking a beer. if you hold it up and down notice how it looks like you are chugging when you turn it towards your mouth. it is one of the most popular iphone applications as i said on the market. it has the virtue of demonstrating to things. the variety and strangeness of the knowledge economy. this little gadget has made its inventor a very wealthy man. what did he tell his parents he wanted to be when he grew up? hard to imagine. [laughter] it is the second thing that demonstrates the knowledge economy and its ass

sirius radio, microsoft, apple, starbucks, amazon, hbo, comedy central, networks entertaining us anytime of the day. even in the great recession americans spend considerably more on entertainment than they did years ago. that means more jobs for artists, actors, comedian, directors, documentary filmmakers, video game creators and apps developers. and just to give you an example, this -- you may not know what this is. this is an app -- one of the most popular apps for the iphone. it's called ibeer. and if you install this into your iphone you can make it look like you're drinking a beer. if you hold it up and down you get -- now notice how it looks like you're chugging when you turn towards your mouth. it is one of the most popular iphone applications as i said on the market. it has the virtue of demonstrating two things, the variety and stranges inness. this has made its inventor a very wealthy man. what did he tell his parents what he wanted to be when he grew up. it's hard to imagine. [laughter] >> it's the second thing it demonstrates is that the knowledge economy and its associated i