Well this book certainly checks the John Malone box! An inside look at a cable titan and his industry John Malone, hailed as one of the great unsung heroes of our age by some and reviled by others as a ruthless robber baron, is revealed as a bit of both in Cable Cowboy. But even as they continued to expand, cable companies were pretty much beholden to the major broadcasters, who were the source of all the content on the cable networks. He loved the inherent efficiencies in hybrid vigor, the known improvements in growth or yield in one generation of hybrids over their parents. Few things about him stood out. Incredible bidding wars ensued between cable operators and telcos. His relation with his family and with Magness are intriguing, and his thirst for challenging authority has been chronicled so well.
In this era, well-financed companies would come in to bid for cable licenses in various municipalities, because these licenses were basically a regulated monopoly. While on book leave in 1999, he was awarded a fellowship at the Media Studies Center in New York. The author clearly knows and understands Malone, but stops short on several occasions of making what seem like clear and intuitive conclusions about his character. So, if the cable system defaulted on a loan, only one subsidiary would be threatened. So they set off reinvesting every dime they had in the business and begging banks to let them borrow as much money as possible.
Readable and well researched, this work is unauthorized but was written with Malone's cooperation. Robichaux does a great job of describing how Malone used financial engineering to avoid taxes and increase shareholder value, and I learned a lot about how best to structure deals to maximize after-tax proceeds Interesting read on a colorful character in the industry. When accounting for all that time, they mostly seem pretty normal, nothing surprising in terms of ability. AbeBooks, the AbeBooks logo, AbeBooks. This whole system mostly worked, as long as the bankers went along, which they tried their hardest not to. For instance, he once told an interviewer that he was driven by insecurity and a desire to please his now-dead father.
Few things about him stood out. Well this book certainly checks the John Malone box! Malone and his cohorts had an obsessive desire to avoid taxation. Unfortunately the rest of the book gets very dry. The idea is to have a 1,000 pound cow producing a 550 pound calf at weaning. And he liked to acquire companies. History being written by the winners.
So in that era, the upside from cable companies always seemed a bit capped. Running gas stations is a really hard business. Cable Cowboy reveals the forces that propelled this pioneer to such great heights, and captures the immovable conviction and quicksilver mind that have defined John Malone throughout his career. Written with Malone's unprecedented cooperation, the engaging narrative brings this controversial capitalist and businessman to life. I've had this on order for a while but it's back-ordered and apparently not getting closer to shipping, so I decided to cancel that order and instead just get the kindle version it isn't available in Apple's iBook store. At that point, cable began to really take off, and many, many new channels sprang up to take advantage of this new way of reaching viewers.
You'll see Malone navigate an uncharted industry, relying on deal-making savvy, a brotherhood of cable entrepreneurs, and a passion to create wealth that bordered on pure instinct. His shareholders got very rich alongside Malone. Malone and his cohorts had an obsessive desire to avoid taxation. Tax laws made it attractive to reinvest as cable operators could gradually write off the cost of their systems over a number of years, allowing them to reduce the leftover profits they reported as earnings and thereby sheltering a healthy cash flow from taxation. One of the most important takeaways from this book is the importance of focusing on both value creation the tech and capturing a non-trivial fraction of the value you create the business model. .
Cable Cowboy reveals the forces that propelled this pioneer to such great heights, and captures the immovable conviction and quicksilver mind that have defined John Malone throughout his career. For the first time, we get a sharp picture of the man behind the mogul, an unflinching portrait of one of the business world's sharpest dealmakers. But John Malone seems to be an exception. He had the power to decide which cable networks survived, he defied regulators, and he crushed competitors. As someone old enough to remember the cable business in the '70s and '80s, what customers wanted was for some decent customer service and a network that didn't crash all the time. Malone is cast as a monster as much as a maven, a mere mortal as much as a legend, an insecure sociopath as much as a loving family man.
This paid for the maintenance costs of fixing the wire, and allowed for a small profit. Loved this book when I read it. Perhaps due to Malone's nature, the book is a little light on in depth anecdotes, a feature that would help bring a clearly enigmatic character to life. The smaller the cow, the less grass she eats. You want to own as much of that asset as you can; then you want to finance it as efficiently as possible. But as far as valuable insights.