It’s Time to Break Up Disney: Part One

Money quote (ok, paragraph) for me:

Yet another consequence of Disney Plus is that it will erode the basic foundations of capitalism. in his book, Iger notes had to find ways to compensate Disney division heads with arbitrary metrics to get them to put their stuff on Disney Plus, and this was hard, because they were used to hitting revenue targets. The division heads have a point. Capitalism is premised on selling final goods for more than it costs for the initial inputs, otherwise you are destroying wealth. By selling below cost, which is what Disney may be doing, the corporation is reducing aggregate wealth to acquire market power. It’s simply impossible to compete with someone who is willing to gain revenue by paying a dollar for fifty cents. Disney may or may not be doing that with its low Disney Plus price, but the fact that Disney Plus makes it impossible to measure value coming out of each division shows that the breakdown of the price system and potential below cost pricing is likely eroding value.