He speaks from experience

Time Warner chief queries internet prices:
Media companies looking to acquire internet sensations Facebook or YouTube would need to take a "big leap of faith" to pull the trigger on a deal at the valuations of close to $1bn being discussed, said Dick Parsons, chairman and chief executive officer of Time Warner.
This from the head of Time Warner, which gave away half of the company for a worthless POS known as AOL. One billion dollars is nothing compared to what Time Warner flushed down the toilet. The only bright side there was that annoying U.N. cheerleader Ted Turner lost half his wealth in the deal.

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