Previous | Next
550551552553554555556557558559560561562563564565566567568569570571572573574575576577578579580581582583584 of 755
But once you make the commitment to make investments, you're subject to the call of the
management of this group. The management of the group is excellent, and they've got a good
Are you committed to a certain percentage that you pledge?
Well, for example, let's say you said: “I'll let you have $5 million.” That $5 million
is related to the total pool. Let's say that's one percent of the pool. So if they are going to
acquire something, you put up one percent of the acquisition, and the rest comes from the
other members of the club.
The organization itself can invest, on its own account--and does--but the money that comes in
is usually from the members of the group. And, as I say, it's been very successful.
There's a book just published, privately, about the first twenty years of the operation. It's
called Profit with Honor. I can let you have my copy, because you can't buy a copy. But I
could let you see it, if you're interested in it.
But that's off the track of cable. Now, there's a lot of loose talk about 150 channels
and 500 channels and so forth. If there are 500 channels, a large part of that channel
number will be taken up by sending movies on demand to you as a subscriber. In order to
send out the same movie to several people at the same time, you have to have separate wires-
-because you might want yours at seven and I might want the same movie at 7:30. So you
© 2006 Columbia University
Libraries | Oral History
Research Office | Rights and
Permissions | Help