Bubbles Within Bubbles Within Bubbles

Andrew Ross Sorkin of The New York Times is in Sun Valley, Idaho for Allen & Company’s annual confab.
Yesterday, Internet pioneer Marc Andreessen, who now runs the social networking site Ning, sounded his alarm.

In a morning panel session titled “Looking Around the Corner to the Future” – which, like all meetings here are closed to the press – Mr. Andreessen told the audience, which included many executives from the so-called “old media” world (including Rupe), that non-digital businesses are toast.
“He said, ‘If you have old media, you should sell,’” according to one attendee, who spoke anonymously because the sessions are off-the-record. “If you own newspapers, sell. If you own TV stations, sell. If you own a movie studio, sell.”

I’m probably not as smart as Andreessen, and nowhere near a rich, but his words of doom sound absurd to me.
Allen & Company is a boutique investment bank based in New York was founded in 1922. The firm has quietly become the premier investment house in the media and entertainment sector.

About David Burn

Fired up to write it down. Co-founder and editor of AdPulp. Chief storyteller at Bonehook, a guide service and bait shop for brands.