From a sell side note this morning: “Netflix will spend more on content this year ($17B) than TSMC will spend on capex ($15B). One makes Tiger King and Ozark. The other makes 50% of the world's computer chips.” Irrelevant, but still striking.
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Water flows downhill. Much easier to make progress there. But I agree more should be invested in hard industries. That’s why Elons are scarce.
At this point, I might argue the reverse. With how many big different players are fighting over our eyeballs in the streaming wars, this space is likely to be pretty unprofitable and to incinerate capital.
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It’s going to be a very steep power law, like other big tech winners, imo.
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You sure? This looks more like the airline industry to me. There is too much concentration on the supply side. Disney has a huge chunk of all IP. Doesn't feel like the same winner-take-all marketplace outcome we're used to. Could be people subscribing to many "channels".
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