Excellent essay by the master contrarian.
On Video as a driver of the Net: "Two centuries ago, newspapers so dominated the traffic carried by postal services, accounting for about 95% of the weight. But at the same , newspapers provided only about 15% of the postal revenues."
On the real issue: "Communications service providers do have a problem. But it is not that of a flood of video. Instead, it is … the erosion of their main revenue and profit source … voice."