Bill Gates discusses the importance of content for making money on the internet. He argues that while industries like TV manufacturing benefited from the television revolution, the long term winners were those who delivered information and entertainment over the new medium. Similarly, while software will remain important for Microsoft, the broad opportunities on the internet will involve supplying various forms of information and entertainment. However, monetizing content online remains a challenge, as advertising and subscription revenues are still minimal, and people are hesitant to pay for online content through traditional payment methods. The development of technologies to easily charge small amounts for individual pieces of content will help address this challenge over time.