Behind The Idea #29: The Rest Of The Disney Story w/Derek Thompson and Brian Langis

Summary: Disney's story is one of the more interesting long-running sagas on today's market. We discuss the company's fate and pending transformation with Seeking Alpha author Brian Langis (the 2-minute mark) and with The Atlantic's Derek Thompson (the 50-minute mark) to figure out whether Disney might be able to cross into streaming. Topics Covered: 2:00 - Reviewing Brian's thesis and the new hope for Disney 7:45 - What are you watching for in the transition to streaming? When does the tipping point come? 16:00 - How big a deal is Fox, how much to worry about $20B extra? (The running cost of content and the offense/defense game). 20:00 - Looking at Netflix across the aisle from Disney 24:45 - Getting to the numbers for Disney. What is the story there? 28:30 - How do we avoid getting attached to Disney shares when we enjoy Disney products? 35:30 - Talking value investing in an expensive market, and a cheesy answer. Getting to Alimentation Couche Tard (ANCUF) and Dollarama (DLMAF) as examples. 41:00 - What has changed in the past five years for your investing? 45:30 - The Iger risk 50:00 - Setting the scene with Derek Thompson on Disney, one of the most interesting companies in the world 54:30 - Why does Disney have a good chance of pulling off the transition to streaming? 56:30 - Why relinquish ESPN to decline? What barriers are there? 1:01:30 - What do the economics look like once Disney makes it to streaming land? 1:08 - Are we at the tipping point where video is too easy to make, thus drowning out Disney's advantage? 1:16 - How important is Fox? 1:19 - Vertical integration - is this business different? Why not work together with Netflix? 1:27 - Let's get into the fintwit discussion.