Keep pulling the thread on Barry Diller.
The plan to launch the Fox network required an initial investment of $1.15 billion for station acquisitions and an additional $150-200 million in subsequent costs.
Rupert Murdoch acquired TV Guide for $3 billion, an asset that later became relatively worthless.
Cash flow from the film "Home Alone" was critical in keeping Rupert Murdoch's company solvent while he was renegotiating a massive loan package with banks.
Over approximately the last 15 years, IAC has spun off 11 of its businesses into separate public companies.
Barry Diller is skeptical about the current wave of AI investments, questioning how the hundreds of billions of dollars being invested will generate a financial return.
IAC acquired a small Texas-based company called Match.com, which became the foundation for its extensive portfolio of online dating brands.
Barry Diller believes he is no longer qualified to be a capital allocator in the current tech environment, stating he is "irrelevant" to it.
IAC acquired a 24% stake in MGM Resorts.
Barry Diller's investment thesis for MGM Resorts is that its business of in-person resort experiences cannot be disintermediated by AI or other technologies.
Barry Diller believes "The Simpsons" is likely the single most profitable entertainment product ever created.
Barry Diller predicts that publishing businesses heavily dependent on search traffic from Google are at risk of becoming "close to extinct."
Sam Altman served on the board of directors for Expedia.