00:00What are you looking at for when you read?
00:02You're looking for an interesting company, you're looking for...
00:04Yeah, I'm looking for a business I can understand.
00:06I'm like a basketball coach.
00:09And if I walk down the street, the first thing I look for is seven-footers.
00:13You know, and now once I find the seven-footer,
00:16I still got to figure out, you know, whether he's coordinated,
00:18whether I can keep him in school and all those things, you know.
00:20But if some guy comes up and he says, you know, he's 5'6",
00:22and he says, you know, wait till you see me handle the ball and all that.
00:25I'm not looking for those.
00:26I look for things I can understand.
00:28I think I know what the economics of the business will look like
00:315 or 10 or 20 years from now.
00:33And it doesn't mean that, you know, I understand what a computer does,
00:36but I don't know who is going to be making lots of money off computers 10 years from now
00:40any more than I knew who was going to be making a lot of money off of television sets back in 1960.
00:44Turned out nobody was.
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