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" I am not an oligarch. I am a servant and I try to align my interests and those of my investors. "
Yuri Milner
I Am
Am
Align
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" Social is a better way to interact with digital world. It is better than search. Implications for... everything. Total change. "
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" We've only made three investments: Facebook, Groupon, and Zynga. "
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" Facebook can be an accumulation of different intelligences. "
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" It's not how much something's worth today, it's what it's worth in five or 10 years. "
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" The problem is that modern fundamental physics is so far from you and me. The mathematics has become so much more complicated that you need at least 10 years to understand it. Fundamental physics has advanced so far from the understanding of most people that there is really a big disconnect. "
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" Russia is one of the places where significant presence of social networks are driven by domestic players right now. "
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" I think there's a time to be private and a time to be public, and I think that companies like Facebook and Groupon are basically transformational companies. You don't come across them very often, and I'm pretty sure that they can continue to grow for a long time even being public. "
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Long
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" Facebook is a platform inside a platform. "
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Inside
Platform
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" I'm trying to learn from various corners of the world. "
Yuri Milner
Corners
Various
Trying
" Facebook now is mostly about people you know. In the future it could be about people you know less but are more important. "
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You
" It's not about revenues: The fundamental economics in digital business is scale and margins. The top line has become the bottom line. "
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Top
Line
Economics
" It is hard to think of practical applications of the black hole. Because practical applications are so remote, many people assume we should not be interested. But this quest to understand the world is what defines us as human beings. "
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World
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" Facebook is at the forefront. It's the company that can fundamentally change the way information is being exchanged and processed. It can be the basis for artificial intelligence to develop over time. "
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Intelligence
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" There is a significant momentum behind the social Internet. A wide range of public investors were very enthusiastic about that. "
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Very
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" Fundamental physics is like an art more or less. It's completely non-practical, and you can't use it for anything. But it's about the universe and how the world came into being. It's very remote from your daily life and mine, and yet it defines us as human beings. "
Yuri Milner
Daily Life
Life
You
" I'm just focused on exploring new opportunities. "
Yuri Milner
New
Opportunities
Focused
" Big Internet companies on average are capable of generating revenue of $1 million per employee, and that compares to 10 to 20 percent of that which is normally generated by traditional offline businesses of comparable size. "
Yuri Milner
Size
Average
Big
" The largest newspaper in the United States is only reaching 1 percent of population. We are kind of assuming that 'Wall Street Journal,' 'USA Today,' and other newspapers are very important. Yes, they're extremely important, but only to 1 percent of the population on a daily basis. "
Yuri Milner
Daily
Street
Today
" I have this ratio that if you divide age of entrepreneur by market cap of company. For Facebook it's one. Every year of his life Zuckerberg has been making $1 billion for investors. "
Yuri Milner
Age
You
Life
" I have invested in four social networks. More than any other. "
Yuri Milner
Other
Social
More
" Facebook didn't know how successful Zynga would be. "
Yuri Milner
Would
How
Know
" The company that creates one global social graph will be very important going forward. It will be Facebook, with maybe 2-3 local social networks able to sustain competition long term. "
Yuri Milner
Forward
Important
Long
" Kai-Fu's Innovation Works is the top very-early-stage fund in China. We are proud to be an investor, and hope that IW will help to produce in China companies on the scale of Facebook, Zynga, or Groupon. "
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Help
Hope
Innovation
" I think top scientists need to be compensated at a different scale in society. Somebody with experience will tell you that true scientists are not motivated by money - they are motivated by the quest itself. That is true. But I think an additional recognition will not hurt. "
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Money
Experience
Think
" I must analyze, from what I do now, what will be the impact two or three or five years in the future. What is the statement I want to make? "
Yuri Milner
Impact
Future
Now
" Science is one of a handful of things that defines us as a very special species. It is amazing how far we have been able to get and how accurate our predictions are. I think understanding how the universe was born is very important. It really gives us a perspective on many things. "
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Perspective
Amazing
Us
" Story was that human civilization started to develop with first social network. Emerged where population concentration was high. Helped propel to where we are now. Facebook is next step of creating a huge human brain to embrace hundreds of million, possibly billions of people. "
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Civilization
People
Brain
" Google never knew how successful key words would be. "
Yuri Milner
Words
Successful
Google
" My background is in theoretical physics, and it's something very close to my heart. "
Yuri Milner
Background
Heart
Physics
" You have to travel globally today to know what's going on and maintain an edge. "
Yuri Milner
Going
You
Travel