“Fundamentally, the media industry has never had to distribute content through a platform that didn’t actually need that content to succeed. The power of Facebook and Snapchat comes from the eyeballs they already own and the social utility they already provide. Their embrace of video distribution comes from the at-hand financial opportunity, not a structural need. If this situation seems dire now, imagine a world where Facebook not only owns its social feed, but through Oculus, the distribution infrastructure as well.”