Dara Khosrowshahi

Other CEOs, you know, they lost a ton of business, but most of these businesses were profitable. We were losing $2.5 billion, and then it just got way worse. So it was a very tough situation to be in, and we had to cut a lot of overhead. We had to cut out businesses that we thought were core to the business. You really had to bet on what's core, what's non-core.

But it was a huge accelerator as it relates to our Eats delivery business. And I think that discipline in hindsight has been great. But I wouldn't want that as that shouldn't have been the precipitating factor. All right.

But it was a huge accelerator as it relates to our Eats delivery business. And I think that discipline in hindsight has been great. But I wouldn't want that as that shouldn't have been the precipitating factor. All right.

So I met Barry Diller when I was an analyst at Allen & Company, which was my first job out of college. It's an investment bank in New York City, specializes in the media and entertainment sector. Now, much more tech. They've made the pretty cool transition. And I was a lowly analyst.

So I met Barry Diller when I was an analyst at Allen & Company, which was my first job out of college. It's an investment bank in New York City, specializes in the media and entertainment sector. Now, much more tech. They've made the pretty cool transition. And I was a lowly analyst.

And I got assigned to this deal where Barry Diller, who at the time was running QVC, he was the CEO of QVC, which was home shopping.

And I got assigned to this deal where Barry Diller, who at the time was running QVC, he was the CEO of QVC, which was home shopping.

Yes, correct. Paramount first, and then he ran Fox for Murdoch. And then he decided he wanted to be his own boss. And at some point, John Malone, I think, had control of QVC. And Barry got the job to run QVC and have control because he wanted to be his own boss. And who can blame him for that?

Yes, correct. Paramount first, and then he ran Fox for Murdoch. And then he decided he wanted to be his own boss. And at some point, John Malone, I think, had control of QVC. And Barry got the job to run QVC and have control because he wanted to be his own boss. And who can blame him for that?

It was golden for a kid like me. And so at the time, Sumner Restone, who was running Viacom... had come to an agreement to buy Paramount Pictures, which was Barry's old home. And Barry thought that he was getting a steal. So he decided to go after Paramount in a hostile tender offer, to come in as kind of a third-party bidder. And it was a huge move because Paramount was bigger than QVC.

It was golden for a kid like me. And so at the time, Sumner Restone, who was running Viacom... had come to an agreement to buy Paramount Pictures, which was Barry's old home. And Barry thought that he was getting a steal. So he decided to go after Paramount in a hostile tender offer, to come in as kind of a third-party bidder. And it was a huge move because Paramount was bigger than QVC.

So it was like the minnow- Swallowing the whale. Yeah, swallowing the whale. It's like Cap Cities.

So it was like the minnow- Swallowing the whale. Yeah, swallowing the whale. It's like Cap Cities.

Exactly, exactly. And I was the analyst on the deal. And it was a whole kind of bidding process. Barry would bid, and then Redstone would bid up, et cetera. It was multiple steps. There was a big court case that was pretty important in terms of, did Barry have the right to come in and actually bid on this thing and break apart a negotiated deal?

Exactly, exactly. And I was the analyst on the deal. And it was a whole kind of bidding process. Barry would bid, and then Redstone would bid up, et cetera. It was multiple steps. There was a big court case that was pretty important in terms of, did Barry have the right to come in and actually bid on this thing and break apart a negotiated deal?

The person who I worked for, the VP, et cetera, she got sick. And so I had to kind of step up and work with Barry directly, like making these pitches to Barry.

The person who I worked for, the VP, et cetera, she got sick. And so I had to kind of step up and work with Barry directly, like making these pitches to Barry.

I was like two, three years out of college. And at some point, Barry's like, you know, there are all these complicated numbers that you put together. And Barry wanted to know, like, who is the person running these numbers? And he's like, I want to talk to the person running the numbers. Herbert Allen comes and he's like, print out your model. Barry wants to talk.

I was like two, three years out of college. And at some point, Barry's like, you know, there are all these complicated numbers that you put together. And Barry wanted to know, like, who is the person running these numbers? And he's like, I want to talk to the person running the numbers. Herbert Allen comes and he's like, print out your model. Barry wants to talk.

So I had to print out my whole LBO model, bidding model, et cetera.