Inside Sun Valley's 'Summer Camp For Billionaires'
The battle over the future of the Murdoch family's 21st Century Fox media empire was at top of mind for all the business moguls gathered at the 2018 Allen & Co. conference in Sun Valley, Idaho.
Cheddar senior reporter Alex Heath went inside the ultra-exclusive, secretive confab and spoke with former AOL CEO Steve Case, Discovery CEO David Zaslav, and Y Combinator President Sam Altman, among others.
Aside from the future of Fox, the consensus at this year's "summer camp for billionaires" was that tech giants like Netflix and Apple are forcing legacy media players to consolidate their businesses and change how they deliver their content in the streaming era.
"Companies are trying to position themselves for a future where consumers are going to have more choice, more control, and more convenience," Steve Case told Cheddar. "It's going to move from more traditional distribution models ー cable ー into a much more digital model. Clearly, it was going to happen, it's just taken a longer time than we would have thought."
Earlier this month, the completely solar-powered car completed a journey across Morocco. The car was designed by students at the University of Technology in the Netherlands and the vehicle traveled over 600 miles just on solar power. It was dubbed a world first for an off-road solar-powered vehicle.
The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them.
