In the new world of digital, there are no must-read publications any more.

Everything I have is a private company. And even though a public company's a great thing, it's great for financing and all of the stuff you need to do. I'm not answering to anybody but my wife and my children and the people who work for me, and my partners.

Before the internet, a journalist would write an article about a company that the company felt was unfair and missed a point. All they could do was write a letter to the editor and wait, and maybe a week later it would be printed, or not. Now, they can go to medium.com and immediately publish a long rebuttal, saying the journalist forgot this and did not consider that, the analyst is wrong here. Everybody pulls that immediately into the debate. So it is a much more democratic field for ideas.

It's very hard to be good. It is self-destructive thinking to think that there is too much good.

Fifteen years ago, nobody thought that content would ever work as a business. It was impossible to raise any money, initial investments were $10,000, seldom $100,000. It is only over the last two or three years that we have started to see very large amounts of capital coming into the digital industry. That has created a lot more competition.

In the era of networks only, I cannot tell you the number of shows that we don't know about that did not survive. They got canceled. But there are a few that survived by accident, because they didn't have anything else to do, and they stayed with it.

The first reaction is, get defensive. Second reaction is, what are we going to do about it?