Internet News Internet Investing Internet Technology Windows Internet Tech. Use our ISP, buy a trip ad your access is free. Some distinction on valuation also relies on interpretation and viewing the correct opportunity vs. the borrowed mindset from other mediums. Services are where the future of value exists, not channels.
Channels are about selling ads and keywords.
Services are about selling services, a much more powerful revenue model. Granted, Yahoo and AOL have generated tremendous advertising revenue and are part of the Web's largest revenue-producing segments. A copper wire or wireless network is completely agnostic to the data on it. I believe Paul Allen gets this concept quite clearly. Not to mention dozens of others.