Ed Elson

Because it seems like they're at this almost like an inflection point where, I mean, they were looking at Warner Brothers, and that seems to be sort of more of a legacy IP original content play.

But at the same time, they're experimenting with ads or...

more than experimenting.

They're really growing it into a real business line at this point.

And I even saw recently that they're looking at a short-form video feature.

It seems like there are these two kind of trajectories.

And perhaps you could even put in talks about getting involved in parks or physical assets in some capacity.

I mean, when you look at the business right now, what is the long-term trajectory?

What are they trying to do at this point?

Yeah, it's sort of a question of like, what is the golden goose for these companies?

And to your point, they've been treating it as the TV.

I think the TV versus phone dichotomy is a good one.

But there is a question.

Yeah, really interesting.

Before we let you go, new Disney CEO Josh Damari is about a month into the job.

He just laid off 1,000 employees.

If you had to give him a grade on how he's done so far, maybe it's impossible.

But what do you make of his tenure so far?

Rich Greenfield, co-founder and TMT analyst at Lightshed Partners.

Rich, appreciate your time.