The web attacks traditional ways of doing things and elites, and this is very uncomfortable for traditional businesses to deal with.

It doesn't make much sense and it's nil premium. They're going to have co-CEOs...which is a very uncomfortable structure.

Bernie [Ecclestone] has not been shy to say one or two controversial things. The last person in the UK who described his product as being crap in public was one Gerald Ratner - and he was gone immediately. But not Bernie! What it tells you is that the demand for live sporting rights, the demand for global or regional events, is so powerful that you brush aside some things because there aren't so many of these events.

[Formula One] is entertainment and it competes with other entertainments - and not with other racing formats. It competes with people's time on a weekend. So you have to deliver.

Monaco was my first race of the season and I spoke with a number of people and all seemed to be very optimistic.

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.

In our business, except in media buying, there are few economies of scale. Client perception of creative agencies is that the bigger they are, the worse they are.