Host: Now it seems to me that innovation is often driven by competition that you just feel like you have to run fast and out run your competitors. And even internally you have internal competition. You were mentioning about R&D and the people not in R&D and trying to innovate out. From your assessment do you think that in periods where competition is less, where a company is more in a dominant position that innovation doesn't happen as often?
Guest: Well, I certainly have seen companies where if they get a dominant market position they get complacent and then they allow it to slow down, but I've also seen other companies where they see it as an opportunity to innovate and if they have the excess capacity to actually renew. I think today Yahoo is in a position were this is not an issue. I mean we're pushing ourselves. We are being pushed from all angles and also because our business is so broad. We are not in one very narrow business we're in many businesses and because of that there's constantly somebody nibbling at our heels in one area or another. That really creates a good natural paranoia about the ability to maintain the leadership position. And I think that really fosters a lot of innovation that people are constantly looking to improve the existing products as well as creating new products that will leverage what it is that we already have.
==== Transcribed by Automatic Sync Technologies ====
