At and a lot of things are for filling that. This is your fourth company. How is that different at this point in your career versus the earlier ones . One of the things interesting about this, having done it a few times, you spent a lot of times deciding where we want to go. Weve been the lifetime talking about, how do we connect several years of payments . Dewey really have a line on what mobile buying would look like . Speaking of making Global Payments easier, there is something you have wanted to announce right . The one touch buying experience that we started with, and then put in data with paypal two weeks ago will now be generally available. It will be the first in the industry to allow a one touch mobile buying experience. No one will know your credit card information or shipping address, no one will know your password. We are the first to do that across platforms. That is a big part of when i came to braintree early on a big part of how i felt it will play out, we needed this. Now we can put that in the hands of millions of paypal users. This is huge. It has the opportunity to really change the way people interact with mobile device for commerce. When we were talking a year ago, you get into the apps and you click on it and pay and you dont have to think about reentering your credit card. What does the experience look like . We started doing this, creating a coop across different apps. Now that we have access to that paypal users, we have made it so it is even cleaner, where there is a fast switch that lets you pay in a single touch. Can we roll the video . [video clip] is one of those things where you look at it and it looks really slick and simple. And you say, why hasnt it always been that way . It is pretty difficult. It will work for all paypal users, correct . Yes, anyone with a paypal mobile app will have access to this weird. Very exciting news. This is the default way you can buy on a mobile device. The other thing you want to announce as you are now allowing merchants to accept bitcoin. One of the things we have always done is given easy access to sophisticated payments. That started with one touch payments and one of the interesting things happening is it going. As someone who has worked with the ecosystem directly, i think bitcoin as a protocol has that potential to address a love that. We are announcing paypals first foray into bitcoin. We are partnering with going a and we will start coin bay and we will start within the next couple of months to accept bitcoin the our partnership. It will be a slick experience on the consumer side. You can pay with something easily presented for consumers to pay with a highly Adaptive Mobile optimized experience. When did your first interest in bitcoin start . I have had it for a long time. In the early days of bitcoin, as paying i was paying close attention. Around 2009 i was really following it. It was a question of when what is the right time. There was regulatory compliance, and consumer experience. A lot of those things needed to be solved. It seems like we are at the right moment where we can do this in a highquality way. But we are still in the early days where there is a lot of growth to happen. What made it the right time now . I think it is sort of the right confluence of several factors. You have reputable providers like coin bay highquality Consumer Experiences and also demand from merchants that are also interested in looking at the legacy payment. All of those things come together. We are at the right time to really start to step further into this and see how we can help propel it forward. Is this just braintree accepting coin or is it paypal . This is the first time for braintree. It is not just raintree, we are looking at this, and ebay also said he is interested in bitcoin. Paypal is our first move to really embrace bitcoin via braintree. Does this mean some of your bigger partners are going to start accepting transactions in bitcoin, like airbnb . We dont have any specific merchants now, but we will announce them over the next couple of months. We do expect a lot of heavy interests. We are hearing already that they had interest. Both the one touch mobile payments will be announced as well as bitcoin is going to be high interest to a lot of merchants. Great. Inc. You so much. Thank you. [applause] how many of you have gadgets . How many people have one with them right now . Do you guys hear me . I know you can. Chances are, this guy was involved with the creation of that gadget. So please welcome liam casey. [applause] no one can hear anything. There we go. How many of you know this is . Nobody . How many of you own electronic product. This cap probably handled most of them. He personally ships a lot of stuff. I was told that he would wear your traditional irish dress. I feel very out of sorts. That said, you are the guy who does amazing stuff in hardware. And in 2007, he went over to china and did a fascinating article about what china makes and the world takes. You are essentially one of the major figures in that article. You are mr. China. Why do you tell these folks a little bit allowed about Pch International . We are a managing company with development. We take ideas for a product from the concept to the consumer. The development, engineering and manufacturing, packaging and logistics to get it to a consumer in as possible. We work with Tech Companies and hardware stocks startups. Startups are really exciting space to be in at the moment. In 2000 you are mr. China. That was when chinese were building billions of things. Are you still mr. China . For anyone who has been in china, you know very quickly that you know very little about china. I know as little about china today as i did when i went the first day. It is such a big space and so complex. We had fantastic people on the ground who were able to execute. That is what we do. Does it matter if you are mr. China anymore . What has happened over the past decade is that you used to go to china and build one million things. A million routers ipads. Now you can just told one thing. What is happening that is allowing this to change . I dont think it is a geographic thing. I think we track data of our products that moved from production lines right through to the consumers home. We try to replace inventory with data. It is not necessary about making one million things, we just want to make what there is demand for. Sometimes you dont want to make a million things. He just want to make what people would like. When you shrink a supplychain, and in some cases some of the Bigger Companies would have a supplychain to take a product from a production line in china to a consumer in the western world and take up to three months. We can do it in six days. And we have done that for some retailers. We have taken a product reengineered the supplychain, and taking it from reduction in china to the retail source in six days. From production in china to the retail source in six days. We do it based on demand. So the these guys are probably going to be thinking in more entrepreneurial terms. What does it take to be a success in hardware right now . Is very interesting when we look at our startups. When we look at the applicants that supply to come into, we are looking for the same thing that any incubator or accelerator are looking for. We are looking for a great team. We look for in a team. You can have a great idea and products, but if you dont have a great team to deliver, it will not happen. We look for a great entrepreneurs. We have been fortunate to work with phenomenal entrepreneurs with startups. Recently i wrote about how you guys partnered with radioshack unit in my experience i have not been in a radioshack since they stopped giving out battery cards. [applause] i believe i still have some. You guys recently partnered with them. From my understanding, you are going to put items in stores. But you have essentially changed the entire supply chain for them. Yes. I spent 10 years in the retail business. Before i set up pch. In retail there are very different types of retail. Theres destination and highspeed retail. When you look at typical cell phone carriers stores, that is a destination retailer. If someone walks into a destination retailer, they are going to get a cell phone. That is what they want. The products that we work with that is not what we want sold. You want them sold where there is a better experience. Today Consumers Want to have a great experience. They want the entire experience if they are going to brian buy a product. We think that radioshack is a company that can actually do it. Joe and it seemed there have been phenomenal to work with. They understand highspeed retailing as opposed to destination retailing. When actually walk into a high street store like radioshack they are more open to browsing. That is where we can actually create a much better environment for startups to display product. To do that first the most important thing for me was that we created a lien supplychain. For our startups, they wanted to put into his inventory into Distribution Centers around the world. If the capitalist is tied up in a warehouse, then it doesnt matter if it is ecommerce or retail. Some of these companies have 20 30 warehouses. For a started to actually enter inventory in there, it is a huge risk. We have one center in china three hours from factories where we work, where 90 of the consumers apply the product around the world. We wanted a lien supplychain. We did not want to be in Distribution Centers. When you can send an astronaut to the space center in six hours, you dont need Distribution Centers around the world. So from radioshack Distribution Centers, etc. Any weeks to take a piece from when we look at the supplychain, we look at their end to end supplychain. It can take three months. We are not doing it for Radioshack Stores in about six days to the store. Across the whole range of products. Not just our own products but other products. That has released quite a lot of capital because it is coming in set of having it kind of in the channels direct to the store. I remember used to work in fashion. For 10 years you did fashion before you did this. It is not very similar, is it . Is interesting because the convergence of fashion and technology is an interesting space. Especially to highway one companies. At the end of the day, all businesses want customers of some sort. Lets talk about highway one. Highly one is an incubator that you guys just recently started. You are making money hand over fist selling products for Companies Whose name begin with a and l and e. Why did you do something for hardware startups . Product innovation and hardware startups are challenging. The companys popular five years ago, and the pace of hardware innovation is very slow because you have technology roadmaps. Product roadmaps. That can really slow down the whole bringing in ideas ready for a consumer. We find that actually working with this generation of why not entrepreneurs, but actually venture into the hardware space, they want to go into the market. We find that in this space, and experience is a phenomenal innovator. They will ask is, why not . Why cant i think it direct from production line to the consumer . Traditionally companies would not ask that question. They have too much experience. They were too conservative good we like the whole disruption that comes with the incubator space and highway one. And the way entrepreneurs think. They have a fantastic cando attitude. Bringing a product to market is very lean, and it is one that i think any company today, for me this is probably one of the most dynamic things we have done as a company. It actually forces us to be able to react to the startups and to be able to when they say when can we do it . You have to think ok, when can we . You have to ask questions that Traditional Companies would not. If these guys are the big guys, the old guys are exhausted. They seem exhausted. Sony is on its last legs. Samsung is hanging in there. What is the future for those guys, making 500,000 or a million units. Are they going to be able to sell those . What is the way forward for them . For us, being nimble is so important. You have always talked about the money curve and being at the high end of the curve is where we are focused. Engineering and product development. We have retail distribution relationships and the block where we actually sell products. We have been at the bottom of that curve and very focused. For me, we enable startups to take a product from a production line to a consumer, with the same service as a big Company Without having the burden and overhead to do it. To me it is one of the great enablers for hardware. Tell me about some of the highway one guys you have been talking to. Blaze is a bike like that he featured. Did you buy her company . No. Please is out of london. Fantastic entrepreneur. It came to our access program. As did little bits. Again, a great entrepreneur. They have these great ideas for products. They actually take the products and come up with the ideas. We love to focus on companies that understand design and that really invest in designs. We work with companies passionate about designs and brand. They are passionate about the consumer experience. We manage the entire process so we can delivered a great deliver a great experience. It comes down to parties of one. Anywhere in the world we can actually monitor a product that is shipping and manage the experience. We do it with a company like blaze. They were very focused on design. Emily was very focused on making sure there was a phenomenal design. What other cool stuff did you get to see . This week we are shipping a product, a raspberry pie computer. Again, these were all products. Did you and bill young go out and write the rain . [laughter] weve got lively, watching a watch today, for helping parents if they are living alone. If you want to help them extend their time in their own homes so they dont have to go into care. His is one of the best products we have seen for models for working at home remotely and families feel comfortable they can stay connected to their parents. That is a great one that Just Launched a watch connected to the hub and the family. So if they fall down, they press a button . Yes. And it is one that you can wear, a stylish one. And an intelligent George Foreman grill . That is another great one. There are connected scales for baking. To an ipad. What you like better, making a lot of stuff for Big Companies are working with these guys . I just love the energy that comes from entrepreneurs. That is what is really feeling innovation. The Big Companies are really attracted to these startups that we work with. Sometimes they are very envious of the process that we take them through. You are absolutely certain you are not being paid by Big Companies to destroy Small Companies . [laughter] if you want to nod or whatever. We are champions of innovation. So you are helping everybody. I have a couple of last questions. If you look under your chairs, there are apple iphone 6 is there. Is what i wanted to say. Liam does some work for these guys. We need to discuss specifically the iphone 6. You have one in your pocket right now. Are you going to give me one . The iwatch, do you have one for me . Cant hear you. [laughter] how does it feel to hang out with will. I. Am . Another hardware fanatic. What are all of these big guys, bono and neil young getting into hardware for . There is a huge interest in hardware. When i was in the fashion industry, i would go to a fabric mill and by small buy small roles of fabric. You could make any garment you wanted from that role of fabric. When i got into technology, i was so far from what you could do. You could never you had to mwait months and years for new technologies. So we saw innovation where it was a downturn in engineers here going into the garages. They were starting to prototype products. They had we noticed that they had tools for the fabrics of technology were changing. Today you have connected modules , which is phenomenal. You have 3d printing and androids. Now you have the fabrics to actually prototype. Everyone says there was a renaissance in manufacturing. We think there was a renaissance in prototyping. That prototyping generally came out of Energy Around creativity of fee is physical goods. That is where we actually play and what we look for his entrepreneurs i want to build companies around that. That is where we are always looking for. Today, you can sketch a piece of hardware and then in a very short time, you can produce a prototype. You can somebody a prototype and it is far more convincing than a powerpoint presentation. Liam casey, Pch International. Thank you very much. Give this guy around of a pause. A plus. [applause] it would be kind of hard to believe almost that watching other people play video games could become a business where its almost a billion dollars. When i was a kid, they would have called that the couch. These guys have done it. Please welcome twitch founders, and our moderator. Thank you for joining us. The first question is, for the last couple of months i think the assumption was that you guys had been purchased by google. All of a sudden we get this news about amazon. How was getting that set up . Everyone assumed google is the way it was going to go down. It seemed like a natural fit. Why choose amazon . It is an easy assumption to make. Your natural assumption is. Amazon is really great fit for us for a couple of reasons. We pitched them, we talked to them about our future and talk to them. They pitched us on what they thought their future was. We got to get that meeting of the mines on gaming and where we got gaming was going and how we saw the future of the gaming industry. We really had the same vision. We also had a shared vision for it being twitch that did it. We assumed we would be a powerful independent rent. Amazon has a great track record of buying companies that way. Look at imdb which they bought 10 years ago. That mimi really except that that made me really excited to have that level of experience. What is the vision of what you think gaming will become . If you look at the history of gaming and go back to the very beginning, you have this very social atmosphere. People gained in arcades. He spent most of your time waiting are watching someone else play. That was the start. As you look at where video games have gone over time, we have gone from