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I'm not sure what's more depressing. How wrong that statement is, or how awful it is that the media are "audience companies" now.
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How do I short Hunter Walk? Seriously, that's an investment I could get behind.
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The most remarkable thing is his claim manages to telegraph a total lack of understanding as to what a media company is *&* the marketplace
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If I was in a VC-funded media company right now that had yet to break even, this would be terrifying.
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These investors really have no idea what is going on, what they're doing, or what a media company is or does or how it makes & spends money.
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I would love if Bloomberg did some serious reporting around this, instead of just interviewing ill-informed VCs. AramZSReads/763766209045299200
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I mean, to start, anyone with a basic knowledge of math can tell you that adding video and audio to your to-do list increases costs. Geez.