riffer

http://www.tudou.com/programs/view/XH5W4vffBbY

Sorry that the first 10 seconds are shady japanese yogurt commercials, last time I looked the videos were $300 on ebay reportedly because PTJ had gone around buying up all the tapes (maybe the glasses?)

Better take another look at Dodd Frank

http://msdn.microsoft.com/en-us/library/dd251071.aspx

http://bigthink.com/series/62#!selected_item=4845

He starts at 8 mins in, and although the whole video is 2 hours long, he makes a bunch of major points in the first 3 to 4 minutes of his talk, after which he answers questions for 3 to 5 minutes.

His central point is that there is a lot of potential value in getting the fixed costs of the search business down, and that he would prefer to invest there, rather than in playing the zero sum game of trying to take away make share in the $25 Bln search business.

Also worth noting: anybody who can lower the fixed costs of search by an order of magnitude is also going to be in a position to make money from businesses that have similar cost structures.

The successful ones that are a result of an initial good idea are a strict subset of the ones that choose a promising market.