Barry Diller

It's got to be clearly differentiated.

And it's got to be of its own unique value.

If it is, don't worry so much.

One way or the other, it'll get recognized.

Our company owns a large interest in MGM Resorts, which has nine resorts in Las Vegas.

There's no way to disintermediate the experience.

I mean, again, if we're in a simulation, we can go into that route.

But there's no way, as humans, you can find an experience that's going to divert you from all the entertainment offerings that a Las Vegas has to offer.

It's impervious to AI or to anything other than whether or not you got something...

That's pleasurable for a family and exciting for people to come and see concerts and all of the things that take place at the kind of scale that takes place in Las Vegas.

What impressed me about that in the very beginning was I said, nobody's ever going to make another one of those.

No matter how much anyone tries, Las Vegas is on its own.

It's not necessarily for everybody.

but no one is going to recreate the infrastructure that exists in that particular place.

That's unique and of, I think, enduring value.

And I'm fascinated by it because I just think it is, again, an example of a place where you can make something up today

And it comes out tomorrow, meaning there's nothing that stands in your way.

We just created a beach club with Cairo at one of our properties that is just original.

And anything you can think of, there's nothing to stand in your way of making it up there.

When did you get involved with MGM?