The valuations are “mathematically insane”, Diller was quoted as saying. “If there’s a willing dumb buyer, that’s OK. And some of them—a very few of them—won’t turn out to be dumb,” he said in the interview.
Diller added that the current tech climate is “puffing” a new dotcom bubble “pretty nicely”, but he maintains that creating new businesses is something that attracts him.
The media executive’s latest foray is the merger between Newsweek and The Daily Beast, but Diller claims it’s an experiment that might not work. “We’ll see in six or eight months,” he said about the prospects of the merger.
Diller was equally unimpressed by Richard Murdoch’s iPad magazine The Daily. He told CNN he doesn’t see closed ecosystems like Apple’s “surviving in the long-term”.
“Eventually, you’re not going to have 32 closed systems,” he was quoted as saying. “It does not make sense. One way or another, over time, these systems have to crack open and everything is ubiquitous on one, on all.”
The IAC boss, however did have some kind words for Apple’s iPad.
“People, me included, have a truly emotional thing about this iPad,” he told CNN.
[via CNN]
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