The basis for content on the Internet is now shifting from text to video. This allows advertisers to take advantage of the kind of branding advertising they are used to on television.

The Internet is probably the most significant thing that has come along,

Microsoft withstood an awful lot. First it was the Web, Internet applications [and] Netscape, then cell phones and Linux, and now it's Web 2.0. We've come full circle. Microsoft has already proven they can weather the storm, so you have to assume they're going to play in this game.

Although it is true that national governments would be free to establish controls over Internet use within their own borders, they already enjoy such powers. China may have instituted troubling censorship controls, but many democratic countries have also created national rules that limit online freedoms.

The Internet's great promise is to make the world's information universally accessible and useful.

This is an enormously exciting opportunity to grow content businesses that combine the unique capabilities of the internet with the art and science of traditional programming.