Arrogance follows distribution strength.

When television came in, everybody thought that was the end of the movie business, which was not and is not.

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

We have more information than ever before, and it is harder to avoid actually seeing what the other side is saying. Yes, we in Business insider focus on publications that we feel speak to us, but that is the same way it was 20 or 100 years ago. In the US, two million people have subscribed to the New York Times and many more millions think it is a terrible, liberal paper they would never read. We can choose to put ourselves in a bubble of only people who agree with us, but in the digital world there are many more ways of saying "Hey, here is something you might want to consider".

People have been predicting the death of television for 20 years now, and so far it's been entirely wrong. But it does seem viewership habits are starting to change.

Digital advertising is now larger than TV.

Some people have made a fortune by being employed. Jerry Bruckheimer does not own his content. Warner Bros. owns his shows. They are on CBS, and he makes a fortune.