I watched the Barry Diller interview on 20/20 last night. I often get a kick out of the mainstream press covering the latest fad of tech- but this was a good interview, and I actually enjoyed all of the backstory about Barry’s lifelong romance with Diane Von Furstenberg. Barry talked a fair amount about building an online business around the old-business concept of brands. He’s done quite well at it- and IAC’s stock price is almost back where it was in ’03.
Barry wasn’t shy at all talking about executive pay and his seemingly outlandish compensation last year. In fact he even went on to admit that absolutely, he is the one that decides everything, and that shareholders have less say in the company then they do in others.
Listening to the last IAC investor conference call Barry was much less candid and upbeat. In particular the big tightening of mortgages has hit Lendingtree hard. Servicemagic is still going gangbusters though, no sign yet of the housing slowdown hitting there, good news for my venture- 30elm.