Every year, nearly 300 powerful media executives gather here [Sun Valley, Idaho] at the secretive Allen & Co. summit, to which the press is not invited. Perennial attendees include Bill Gates, Warren Buffett, Rupert Murdoch and Barry Diller. As the definition of media has expanded to include the Internet, Facebook CEO Mark Zuckerberg and Twitter CEO Evan Williams have been added to the guest list.
From the WSJ.. And the result - the press were not present, but a little leaked:
“No one had any answers” about making money on the Internet, said [Ken] Auletta, who moderated the panel.
Malone said he didn’t think that an advertising model made sense on Twitter, but there was some hope for a subscription model. “Sooner or later people will be willing to pay for these services,” he said. Warren Buffett privately told him that he would pay $5 a month for YouTube, he added.