Peter Kafka

Recent Posts by Peter Kafka

Providence Equity Sells Hulu Stake

Providence Equity Partners has closed a deal to sell its stake in Hulu, according to a source familiar with the transaction. The sale, first reported by TechCrunch, has been in the works since April, and also triggers a “liquidity event” for the Web video site’s employee shareholders, including CEO Jason Kilar. Hulu’s others owners are Comcast, Disney, and News Corp., which also owns this Web site.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work