Colony: Gateway recession - being digital first

The recession that we are currently in is what I call the Gateway recession. And what I mean by that is that it is going... It is not just a typical recession, but rather what happened before, what happened afterward will be quite different. The worlds will be very different. It is a little bit like the 1973 recession in the United States where the... that recession was the beginning of the end for manufacturing of cars, as an example, in the United States, because of the oil shorts in 1973. Or World War I, in Europe, that changed Europe to a great extent. Europe was very different after World War I. And so this is the Gateway recession, I believe you are going to see many changes. One is going to be in companies: digital will have to come first. In many companies today you still have older management and they do not think digitally. So that they continue to perpetuate their old business model, but after this recession is over, the consumer will have changed during this recession and you will also have demographic change. The many young people now coming up, the children of the baby boom, they will demand technology in a certain way. Companies have to answer that by being digital first. So digital first. This Gateway recession is going to mean that some elites are going to be wiped out, media elites as an example. Media will be greatly changed and some of the elites who used to run the media industry will gone after the Gateway recession is over. So this is a very important time in the history of technology and how it is used. I believe that on the other side of this recession, 2011 to 2012 will begin to look very different.