It's amazing to meet a lot of creative and sharp entrepreneurs in the valley. Everyone has a lot of wonderful ideas, and more importantly put them into reality. I met two great enterpreneurs tonight. Amar Goel and Rajeev Goel set up an online advertising agency connecting publishers and ads network, using auction strategy to serve the advertisers more efficiently. I used to think it's hard for Internet people to understand traditional advertising, but I know I was wrong when I met them. People talk about online advertising more like a thief who stole revenue from newspaper and TV, but that's not true. Pubmatic does provide the service that no one provided before. It is easily set up to target at certain users group, and more importantly, advertisers easily know if they get a good deal.
It reminded me of the managerial economic lesson I learnt today. There was once a fish market in Indian that people only trade verbally. The volatility of the price was very high. However, with the cell network coming to the village, the fish men could call around to look for the price, and then trade. The price became stable since then. It's amazing to see how communications change the village. Now, the same thing applies to Internet advertising: every thing becomes transparent, which means more capital will be willing to come in.
So that's the future.