I want to say, however, one thing our media in America has done which didn't happen in other totalitarian states is it has very effectively stood up to Donald Trump who has obvious fascist tendencies and his - who's a temptation like all authoritarian figures to try to crush the media or make it obey him. As that - the media has, in fact, stood up to him and has refused to bow out or cower.

If you have a weakness for furry slippers or something, you might end up with that kind of advertising. It's a very complicated algorithmic decision. There's no one dude who's deciding what ads are going with things, and it's very individualized also. And that's the idea of collecting information is that in theory, you're showing people things that they should want to see or for which they are a good target. So, no, there's no master person.

If we generally like the way things are now, we must also ask whether our current situation is really so different from the open ages of radio, film, or the telephone. Might it not also have seemed in those times that the orgy of limitless entrepreneurism would never end? The point is that we are near the high end of a pendulum arc that, so far, has aways begun to swing in the opposite direction -toward greater integration and centralization- with a force that can seem inexorable.

Google's AdWords, they allow you to bid on words that people will type into the search engine, and they cost more or less. For example, I think mortgage refinancing can cost - now, it's probably hundreds, maybe thousands of dollars. So, in other words, they are allowing you to bid on what people are going to type, and that is the AdWords program. So you own certain terms, and then your ads show up as opposed to someone else's.

The Holy Grail of advertising has always been advertisement that people want to watch, which occasionally happens. You know, the Super Bowl, people sit there and watch the advertisements. Some print advertising is very beautiful.

The Internet, you know, 10 or 15 years ago sort of felt like the wild West. You could go out there and do anything and search for things, and, you know, find out about stuff. Now always in the back of my mind, you know, whether it's email or whatever else, it's like, well, is this going to show up somewhere? Is someone going to keep track of this and, you know, know I was searching for - maybe it's an embarrassing disease, maybe it's a weird hobby?

Movies you pay for - well, sometimes they throw some ads at the beginning now - but generally you pay for ads. And that business model - actually, much more ancient, paying for stuff - is much more straightforward in terms of the incentives of the people who are then giving you the stuff.