If you look at cable networks, they almost always start licensing content wherever they can, so they can build a subscriber base. But then they start doing their own content; it's a pretty well-trodden path.
Reed HastingsI'm on the Facebook board now. Little did they know that I thought Facebook was really stupid when I first heard about it back in 2005.
Reed HastingsTechnological revolutions are very hard to predict. My favourite example is someone in 1850 taking care of horses as a farrier. They would have said, "Look, horses have been part of human existence for 5,000 years. We are horse people. It's permanent." But all of a sudden, the internal combustion engine comes along and, with it, oil fields and automobiles, which basically replace the horse completely. So we often have these long periods of stability and then a sudden inflection point.
Reed Hastings