"Malone is certainly entitled to his opinion, but when set against his obvious desire to keep the current business model in place, it has to be taken with a pinch of salt."
He didn't get to be a "billionaire media mogul" due to lack of foresight.
The qualifications of his opinion I'm sure carries much weight, and his not agreeing with some internet-based video business models is far from meaningless. He quite obviously has the financial wherewithall and the abilities to leverage all the technical requiremens to bring internet video to a money-making scheme if he so desires.
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