The internet will revolutionise the way we watch television within five years, Bill Gates claimed at the World Economic Forum in Davos, Switzerland.
The Microsoft chairman said business leaders and TV companies have been slow to realise the potential of the web but insisted that this will not last for long.
"I'm stunned how people aren't seeing that with TV, in five years from now, people will laugh at what we've had," he said.
The 51-year-old continued to elucidate the virtues of visual streaming over the net.
"Certain things like elections or the Olympics really point out how TV is terrible," he explained.
"You have to wait for the guy to talk about the thing you care about or you miss the event and want to go back and see it."
He added: "Internet presentation of these things is vastly superior."
Last year, Google showed its faith in the televisual power of the net by investing $1.65 billion in YouTube, the video clip sharing website.
Chad Hurley, co-founder of the site said he would be looking at how TV advertising revenue would change by the shift towards the web.
"In the coming months we're going to do experiments to see how people interact with these ads to build an effective model that works for advertisers and for users," he said.
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