A profitable company is not necessarily seen as a successful company anymore, because a company’s value in the eyes of investors is no longer based on profit. It is based on the perception that the company will be more profitable in the future, which drives speculative valuation, which in turn creates more value for an investor than the piddly five-year projection type value that normal investors have to settle for. The modern media corporation is effectively a hedge fund—a collection of speculative assets that are expected to grow and grow, year after year. And to feed the dream of fully scalable infinite expansion, in every direction, forever, even a good business like ESPN needs to find new revenue streams.
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https://cohost.org/NireBryce/post/4929459-here-s-my-five-minut
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in reply to @NireBryce's post:
The commercials creep me out, too, with their blend of (probably accidentally) recalling the early days of American professional sports, where bored fans would bet on anything to stay focused, and the Twitter-like "we will find ways to constantly hammer your dopamine triggers until you explode from watching baseball."