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There's really very little room for commentary here. This guy is absolutely brilliant and anybody interested in the future of social networking, internet-based ecosystems, or even just the future as it relates to technology needs to watch this video.
I just don't get how this is "genius" material, other than he has cleverly
found a way to state what we all know already: there is always a better
way to spend your free time.
His point wasn't that TV is a waste of time... his point was that people
want to know where they get the free time to do things like Wikipedia, and
his point was that is an absurd question because people have so much free
time given how much of it they spend watching TV. I think you're focusing
on the wrong emphasis from his point. It isn't that TV is this horrible
thing that has no meaning... it's that if you want to find some free time,
you can probably cut out your TV time... In addition, society is moving
toward an age where we don't want to sit down in front of a TV at a set
time to get our programming, we want it delivered on demand when we want it
where we want it, and we want to interact with it in ways that we haven't
been interacting with traditional TV before.