The history of media is the market share of advertising dollars has followed.. albeit with a lag.
James PackerIn a perfect world we don't want to be overly dependent on any single asset or be so dependent on the cycle or where one asset is the bulk of this company.
James PackerI'm an ambitious person. I mean, if I did that... I would self-destruct, in the sense that the decadence would be too strong an attraction for me. Whether that be in the form of gambling, fast cars, alcohol, drugs, whatever it happens to be... I think the lure of that lifestyle would be too strong.
James PackerYou can say on one hand the market is crazy but it's not 1999. People have had their medicine from overexuberance. I find it really interesting that those two businesses, Yahoo! and Google, which are just online advertising businesses, are valued at more than the media behemoths in America.
James PackerI got plenty of guesses wrong on things in the past as well. I don't want to pretend I have some great insight... But when the global financial crisis came along in 2008 it was scary times if you were in the middle of building $5 billion buildings. It wasn't perfect... I think that I am the luckiest person in Australia.
James Packer