SXSW Recap: Barry Diller & Ali Velshi

Fifth in a Series

State of the Content Industry 2012
Ali Velshi - Anchor & Chief Business Correspondent, CNN
Barry Diller - Chairman & Sr Exec, IAC

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Barry Diller continues a storied career in media business. His conversation with CNN's Ali Velshi was humorous, pointed, and unapologetic. The conversation bounced around wildly and often deviated from Velshi's matter-of-fact style as Diller offered his raw opinions and thoughts on the industry. Notes below.

• Diller stated that (rather obviously), Technology is providing the biggest and most radical shift in how people access content.
• À la carte content delivery through multiple personal devices is the future.
• Location-based technology has to happen.
• He doesn't tweet - because his wife (fashion powerhouse Diane von Fürstenberg) tweets their entire life apparently.
• Diller understands that sometimes you do things that maybe you don't even like, but you are able to add value - so thats what you do.
• He seems excited about the new show Fashion Star - which connects those on the show, people watching, and retailers.
• He doesn't really believe in the word "entrepreneur" - he called it pretentious, he says "it's work" and that's what everyone should be doing.
• However, immediately after that he said if you're not an entrepreneur, you're not allowed to exist as a young person (think about that!).
• In business, unless you're adapting everyday - you'll be wiped out! (are you listening Corporate America?)
• Diller mentioned Hatch Labs, which is basically an incubator and 'hot house' for corporations.
• Best quote of the whole discussion: "If there is no commercial purpose, then there is no purpose."
• He's interested in the search of actual questions returning actual answers.
• Finally, he wrapped up with a discussion on Aereo - a new service which lets you watch live TV on your mobile device without having to have a cable service subscription. Right now its available in New York City only for just $12 a month.  Check it out here.

Bottom line is this: Barry Diller has a serious track record of success and he's focused on things that create long-term value, even though he isn't on Twitter (which obviously hasn't hurt him one bit. Are you listening 'social media gurus'?). He's also the Chairman of one of my former employers, Expedia, Inc. You can listen to audio of this session on the SXSW website.