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Let's begin with the internet people. The internet people wanted convergence with the telephone and later television networks, because they wanted ubiquitous.
让我们从互联网人开始说起,互联网人想要和电话以及后来的,电视网络聚合，因为他们无所不在。
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but they can set up Internet. It gives them access to the information that is on the World Wide Web, so...
他们可以架起网络，这样就可以让这些国家的人利用互联网的资源。所以……
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When we brought US$1.2 million back to China, it was like peanuts comparing to a lot of other Internet startups in China.
当我们成功融资120万美元回到中国,相比其他新兴互联网公司,这些钱简直就是九牛一毛。
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But I was a really good programmer and I wanted to understand the consumer side of the Internet.
但我是个很好的程序设计师,我想了解互联网关于消费者的一面。
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I like to see coalition station push out information through signals or internet increasingly in pushing out information follow the coalition model.
之后我们会看到信息,以符号的形式传播出去,互联网也逐渐,通过联合模式推动信息传播。
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Probably a more important test of the portfolio was what happened around the collapse of the Internet bubble in 2000.
对这个组合更严峻的考验可能是,2000年那场互联网泡沫的破裂
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And in something like a consumer internet company like Facebook, that constant real time interaction and experimentation is something that the very best entrepreneurs do.
像脸谱网这样的,用户导向型的互联网公司，即时交流，不断试验,是企业家最佳的生财之道。
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So, so I guess my only issue with the internet is that people are constantly eating junk food all the time,
所以我想我对互联网唯一的质疑就是，人们在不停地吃着垃圾食品。
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You can take a problem that might be relatively intuitive to solve but when you scale this thing up as is increasingly the case in the web, in large data systems, and so forth, you actually have to now think smart, you actually have to think efficiently and you have to solve this problem effectively.
你可以把一个问题用比较直观的方法解决,但如果你把此类问题的数量增大,正如越来越多的互联网，和大规模数据系统中出现的问题等等,你应该考虑怎样才能更简便，怎样才能更高效,你应该用行之有效的方法处理问题。
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So anything you've, you know, read, anything you've... as long as it's, like, not the Internet,
所以任何你阅读过的内容，只要不是互联网，
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So it's worth looking on the internet for anything that's going on at the moment.
所以很有必要在互联网上查看什么在上映。
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So, the thing about the industry, the internet has taken over the music industry.
所以，这个行业，互联网接手了这个行业。
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Can you tell me about your friends who you found by using the Internet?
能跟我们讲讲你用互联网找到的朋友吗？
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They will be made available free to the public via the internet, so this is a way of allowing the world to benefit from what we all do at Yale.
它们会通过互联网向公众免费开放，这样全世界的人都能从耶鲁的课程中有所收获,我们要做的。
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because China is the largest Internet economy by population.
因为按人口算中国是最大的互联网经济体。
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So quickly I realized that we were too optimistic about the future of Internet in China.
很快我就意识到,对于中国互联网的未来看的太过乐观。
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It can be honed but those are some of the skills for a consumer internet company and one that is growing this quickly that is just essential.
是可以通过磨练而得的,但是对于增长如此迅速的,客户导向型互联网公司来说,有一些技能是不可习得的。
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So will we be using the internet for video on-demand, will that be the killer app? Will millions of people wide watch this video right when they want to watch it?
所以我们会使用互联网实现随需视频么，那会成为杀手级应用么？会有数百万人,就在他们想看的时候看到视频么？
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Now it's all electronic and it's done by the Internet, but it's the same thing.
现在一切都是电子化操作,通过互联网就可以实现，但本质上还是一样的。
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We made a big bet against Internet stocks in 1999 and 2000 that was very profitable for the University.
999年和2000年我们大幅做空互联网股票,为学校赚得了很多利润
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So let's talk about convergence, convergence of the internet, telephone and television networks.
因此让我们讨论一下聚合，互联网,电话和电视网络的聚合。
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Internet industry was in a very difficult time at that time, at that period, and we gradually realized that this company cannot really survive if we stick with the backend technology providers thing.
当时互联网行业正处于困境，如果坚持做后台搜索技术提供商,这个公司将无法生存。
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First is, as you know, we started at the height of Internet bubble.
总所周知的是，公司于互联网泡沫破灭时起步。
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Sometimes the numbers can be pretty dramatic; I mean,2000 was a year of great flux in the markets because that's when the Internet bubble burst.
有些时候投资者的数量很大,像2000年市场的流动性很大,因为在那一年互联网泡沫破裂
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So that happened to a number of American Internet companies.
一些美国互联网公司碰到过这样的情况。
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We now live in the internet age and so Regulation F.D.
而我们现在已经进入全新的互联网时代
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But I believe that the internet, through Wikipedia and other places like that,
但是我相信互联网，通过维基百科和其他类似的网站，
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So I started to talk to the VCs and asking for $10 million at a very, very difficult time in Internet history.
就在互联网历史上最艰难的时期，我开始跟风险投资商接洽，向他们要1000万美元。
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Then lastly, there are things like the Internet bubble, they're not usually called this, but--the lending bubble where--or the subprime mess.
其次，市场上还存在像互联网泡沫，不经常被提及的贷款泡沫,此外还有次贷危机。
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Certainly this is like mid 1990s, we did have the web and the internet but things were slow and it just wasn't really conducive to actually finding things quickly unless you really gave some thought to the problem.
它有些像20世纪90年代，当然我们有网络和互联网,但是做事情很慢,在快速查找东西的时候不是很有效,除非我们对这个问题真正深入思考了。
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