The course is designed to introduce business students to the application of value investing concepts and disciplines to digital businesses. We will cover a wide range of digital business models in companies at a variety of stages and development.
The course is organized around major digital business models and industry verticals. After the introductory sessions, each week will closely examine a leading digital company (or companies) within the model/vertical at issue, as well as an alternative established or emerging digital competitors. The analytical framework will be reflected in an Investment Committee Memorandum template that will serve as a basis for class discussion. The template incorporates the key decision-making variables relevant to a value investing approach. The first half of each class will focus on the overall sector identified and leading company example.
The second half will include Investment Committee Memo presentations by two student groups on the alternative digital business examined. Some sessions will include participation of relevant leading digital investors or executives. In addition to weekly readings, the two textbooks for the class are: Value Investing: From Graham to Buffett and Beyond (VI) by Bruce Greenwald et al. and The Curse of the Mogul: What's Wrong with the World's Leading Media Companies (COM) by Jonathan Knee et al. The reading assignments for class combine chapters of the book with relevant background materials on the general sector and specific companies studied.
Grading is based on:
Final examination (65%)
Group presentations (25%)
Class participation (10%)
Michael T. Fries Professor of Professional Practice of Media and Technology; Co-Director
Professor Knee teaches Media Mergers and Acquisitions, co-teaches The Media Industries: Public Policy and Business Strategy with Professor Tim Wu of Columbia Law School, and co-teaches Digital Investing with Adjunct Professor Jeremy Philips. He also serves as co-director of the Media & Technology Program with Professor Sarvary. Professor Knee is a Senior Advisor at Evercore Partners. Before joining Evercore as a Senior Managing...
Adjunct Assistant Professor of Business
Jeremy Philips is a Founder and General Partner of Spark Capital Growth. He is a member of the board of directors of TripAdvisor. Previously, Jeremy served as the Chief Executive Officer of Photon Group, Executive Vice President at News Corp. focusing on digital strategy and acquisitions, and Co-Founder and Vice-Chairman of ecorp (a publicly traded holding company for leading Australian internet businesses, including ebay...