It's all about "value." What is value, I mean, apart from what someone is willing to pay for something? Because if YouTube, which loses almost $500 million a year was worth $1.6 billion three years ago. And Facebook, which makes no money whatsoever, turned down an offer of $8 billion and is valued at $10 billion. Then how can NBC/Universal be worth only around $14 billion?
Forget mere (mere!) profitability. Which entity do you think has a better chance of even existing in 10 years, NBC/Universal or Facebook?
2 hours ago