The PayPalX Innovate 09 conference recap document summarizes key discussions from the event. It notes that smartphones are outselling PCs 4 to 1, representing a major shift to mobile. To capture this growth, PayPal is changing from a software company to focus on payment and other financial services available via their new x.com platform. The keynote speaker Tim O'Reilly discussed how business margins and leaders have historically shifted from mainframes to PCs to the internet and search, and are now emerging around an "internet OS".