intrinsicinvesting.com/2018/07/12/net…
![](https://pbs.twimg.com/media/Dh6JUW-U8AAxSFR.jpg)
![](https://pbs.twimg.com/media/Dh6JgciUEAU513y.jpg)
![](https://pbs.twimg.com/media/Dh6Jx0tUcAArbnk.jpg)
![](https://pbs.twimg.com/media/Dh6Kx1pVAAESrAQ.jpg)
![](https://pbs.twimg.com/media/Dh6LHxTUcAEVc1X.jpg)
![](https://pbs.twimg.com/media/Dh6LjtxUEAIbNln.jpg)
Additional thoughts found in the full report, which can be found here:
intrinsicinvesting.com/2018/07/12/net…
Pls see also our previous post discussing media disruption here:
intrinsicinvesting.com/2016/08/16/of-…
10/10
![](https://pbs.twimg.com/media/Dh6MwR-UYAYSnbB.jpg)