tom: i saw john perretti do a presentation and he told the origin tale, i'm sure you have seen this many times and he said when we started buzzfeed we started with the presumption that the ads the banner and pop-up ads he said we start with the presumption that banner ads and public ads suck and we're going to invent a new form that people like as much as the rest of our content and really gave a big impetus to what is called sponsored content. is that 100% of your revenue? aneri: i think so. i do not have to think about that in my area as an editor. tom: you have no involvement in creating this sponsored content. max: no. there is a chinese wall. tom: how about at vice? rocco: that worked for so long so it is church and state and there is a third prong which is technology. technology, you look at ink on paper for so long. technology develops more quickly as we move through time. and you see pop-up ads. those quickly lost their value. you are seeing native advertising. whatever word you want to come up with it. there is going to be new platforms through which content and advertising are