JONATHAN MURRAY: Just two more questions ... How do you hope to make a difference with your foundation, which I know is very important to you?
BILL GATES: Well, one of the great market failures is the lack of investment in R&D on the drugs ... it's a long list of in some cases hard-to-pronounce and often obscure ... because the market mechanism isn't primed. There's isn't the money to buy the drugs, and therefore the work isn't done. And that's just a disastrous market failure that only governments and philanthropy can come in and change that condition, whether it's ... for children, or whatever it is. So it's kind of bizarre ... So hopefully that can be changed.
JONATHAN MURRAY: Final questions ... (Laughter.)
BILL GATES: One of the changes for me a couple of years ago was having to see [ed: Steve] Ballmer. And it was interesting. For the first year my schedule didn't change all that much. And then as we got into the ... group ... love. That's what's fun. A lot of that is mapping scenarios -- like saying, okay, this government wants ... our technology? So it's not just a matter of retreating off to the ivory tower and doing things that are kind of [ed: gay] in nature. It's really sitting down with ... gap. Why don't we read off our screens? Why don't we get rid of government? What are all these steps that still make that too complicated? And you know it's clear that there's a lot to be done. You know ... despite what we have done, we are not anywhere near half of what I'd like to see us do [ed: SP - sue].
And it's kind of fun where everybody thought everything would happen overnight ... because I knew ... valuations were unrealistic, the expectations, and sort of a little bit of the greed around it And there were a lot of things that were misdirected in that time period. And now that things are more back to ... stuff like that -- it's a lot more fun. The industry is focusing ... in a position now -- including Microsoft -- to actually surprise ... systems, easier to ... breakthrough things. And that's a lot more fun than being in the middle of sort of a tulip-bulb-like phenomenon. [ed: WTF?]
JONATHAN MURRAY: Well, we're certainly looking forward to having you for many years to come ... very much Bill[s].
BILL GATES: ... (Applause.)