Formula One is not just multinationals. It's also about national players wanting to get global coverage.

In the 19th century China dominated the manufacture of porcelain. Then European factories discovered a cheaper method of making pottery of equal quality, demolishing the Chinese industry the exact reverse of what is happening now. World economics have turned full circle.

When you go back to the above names it was a very much narrower situation - the alternatives were far fewer. Today there is much more competition for the 'hero stakes'! And if you think about all the alternatives you have today to spend your time on, the pool of heroes is much broader. It was very much less back then.

Why not look at Indonesia? It will be the third biggest country in the world in population in 25 years' time - after India and China.

I believe that Virtual Reality will hit it big time. I know that some of my colleagues disagree, but I believe in it.

If you run a country and want to put it on the global map you don't have so many choices. You can get the Olympics, the World Cup or a Formula One race. And the first two are only every four years - and you have them only once.

If you look at the sponsorship yields, Formula One - because it happens every year - generates more sponsorship money for a four-year cycle than anybody else. So it is very powerful.