This document discusses trends in media, technology, and consumer attention. It notes that the average person's day is fragmented into 120 15-minute periods of attention across various activities like work, commuting, TV, and social media. Emerging technologies like virtual reality and the "internet of things" will further divide attention. The number of media and tech companies serving the next 4 billion users will increase as more offer specialized services across areas like messaging, content, commerce, connectivity and more. The future will see more independent players in each layer and the rise of new attention-grabbing formats, quantified data about humans and the world, and fan-created content dwarfing professional content.