Every new thing upsets people. We all know someone that has a teenage kid who sits in the room and the television is on, their iPod is on, they have the computer on and at least three other electronic devices going while they're doing their homework. It drives the dad nuts, but he can't complain because the kid's a 4.1 (GPA) student.

This new world of personal media - the Web, the Internet and et cetera - not only delivers the world to your living rooms, but everywhere. And we get to answer back. And we're expected to answer back.

Sometimes I think we're on this world for three reasons: to be useful, to tell each other stories and to collect stuff. It's the only explanation for eBay. We love to collect stuff, and at least if we're collecting stuff in cyberspace we're not deforesting the Sierra Nevada.

The arrival of television established a mass-media order that dominated the last 50 years. This is a personal media revolution. The distinction between the old order and the new order is very important. Television delivered the world to our living room. In the old media, all we could do was press our noses against the glass and watch.

Every new thing upsets people. We all know someone that has a teenage kid who sits in the room and the television is on, their iPod is on, they have the computer on and at least three other electronic devices going while they're doing their homework. It drives the dad nuts, but he can't complain because the kid's a 4.1 (GPA) student.

Take cyberspace as an example. We had this wonderful utopian vision of a new home for the mind. What we've reaped isn't cyberspace. It's cyberbia. It's this vast, bland wasteland of vulgar people and trivial ideas and pictures of half-naked starlets. But despite all the uncertainty, has there ever been a more fascinating moment to be alive?

Stock prices turn people's heads. When prices are high, we treat a company like gods, and if they drop, we treat them as fools.