David Rosenthal: belief

Transcript context

…Yeah. Can we talk about the fact that the top three are all online advertising? Yeah. Let's talk about that. What I think you're going to say is also my number one theme here. There are a few different ways to attack this. One is a defensibility perspective, which I think is interesting. Once you already have all the advertisers and you already have all the users, it's a far cry to ever break that bond that's created. The other side of that coin is being anti-competitive. The fact that our top three are all online advertising network effect businesses that were bought by other online advertising network effect businesses, that may pay some credence to the drum that Ben Thompson has been beating around. Do we need a new regulatory framework Internet? So, hugely value created for the companies that bought them. Open question of whether it's net positive for the world for this combination to exist. What other angles do you have?…

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