Barry Diller Interview | Snippet Finance

Worth listening to Barry Diller on the picture right now.
Barry acquired Expedia right after 9/11. Saying “where there is life there is travel“.
He described today as cataclysmic, no sharp reversal and not being analogous to 09 or 9/11.
Diller spoke of advertising as particularly hit as of Q2.
Expedia (he is chairman) typically spends $5bn per year on advertising but revenues at zero it will be lucky to be $1bn this year.
On that topic this is a good article describing what is happening at GOOG and FB in terms of advertising.
Despite their strong positions and likelihood to gain share things are looking bad.