And the VCR did the same thing: the movie industry thought nobody would ever watch movies any more.
Today, over one million people now make their living on eBay, which is astounding.
If you can use a Web browser, you can use Skype.
It is very similar to companies like Google and other internet companies. When you go and search on Google you don't pay for that. But sometimes you click on an advert and Google makes money on that.
You have 1 billion people using the Internet with 200 million of those now using broadband internet connections, so the Internet has become a powerful network. It can carry calls.
When we look at investing, we always think about 'how defensible is this, how likely is it that somebody is going to copy this.' E-commerce tends to be something easy to copy because it's execution.
Angry Birds is one of the fastest-growing online products I've seen, growing even faster than Skype, and the company has done a brilliant job of extending it across different platforms and merchandise.
Video is moving online in a big way. It's proven to be a challenging market for some companies that start out as a pure Internet company such as Joost.
We have 2 million users in the U.S. and about 13 million worldwide in more than 200 countries. We're getting 80,000 new users each day. And more than half a million people are connected via Skype at any given moment.
When radio stations started playing music the record companies started suing radio stations. They thought now that people could listen to music for free, who would want to buy a record in a record shop? But I think we all agree that radio stations are good stuff.
We also have a conference call feature where up to five people can talk on one Skype call.
The Chinese market is very, very unique.
I hope that my investment into Atomico will become my best financial investment to date.
We have just started, and if you compare the number of people using Skype to the number using a telephone network around the world, we're still just starting.
Then people started using it more and more and it became the most downloaded software on the internet.
Skype is easy enough to use so that people don't need to be tech savvy - a lot of users just want to communicate with their friends and family, and they find this is the easiest, cheapest way.
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