In this episode of Yet Another Value Podcast, host Andrew Walker is joined by Byrne Hobart from The Diff for the monthly book club. They discuss Born to Be Wired, the newly released memoir of John Malone. The conversation explores Malone’s strategic mastery, his historical and modern media investments, thoughts on taxation, and media regulation. Andrew and Byrne also reflect on Liberty’s recent underperformance, Malone’s approach to succession, and the evolving media landscape. They close with a playful debate on the future of CNN, potential Saudi buyouts, and what book to read next. Listeners interested in media, cable, and investing will enjoy this deep exploration of Malone's career and legacy.

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[00:00:00] Intro to book and guest

[00:02:52] Malone fit for 1980s market

[00:04:49] AT&T’s dividend inefficiency analysis

[00:08:49] Malone’s era-optimized strategies explained

[00:13:17] Liberty Media’s big split strategy

[00:16:32] Malone’s regulation views criticized

[00:22:02] C-SPAN’s cable subsidization dynamics

[00:24:36] Cable Labs and hostile deals

[00:28:01] Media write-offs and strategic bidding

[00:34:03] Media titan nostalgia and shifts

[00:37:37] Infinite channels end titan era

[00:39:04] Greg Maffei’s underwhelming portrayal

[00:44:13] AI and regulatory survival urgency

[00:45:24] Formula One bullishness and strategy

[00:50:13] Liberty Global optimism despite history

[00:54:31] Timeless themes in cable media

[00:56:18] CNN objectivity vs market demand

[01:00:17] Halloween book club next picks

[01:02:15] Disclaimer and episode wrap-up

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