joe: alan patricof helped grow such companies as apple, aol, and office depot. he cofounder of greycroft partners and joint us now. alix: thank you for joining us. what a pleasure. alan: nice to be here. alix: when you see oil volatility and china falling off a cliff and massive volatility in the markets, what do you think? alan: i think it's amazing the venture capital community has blinders on and be start up -- the startup community has blinders on. whatee them and you think, does it have to do with me? i have been saying this for years -- it's hard to reconcile the fact they seem to be in two different trajectories. if you are raising money on a private transaction startup right now, and i said to them, you realize the stock market's down a thousand points right now, they would say, so what? to get themard conceiving of that. as a result, when the market is down, it seems that my experience is private prices hold up. they just don't want to go down. by the same token, when the market goes up and runs wild, the venture market follows it. it does not go along w

alix: much more with alan patricof. we will be back talking about media. ♪ alix: i'm alix steel.: i'm joe weisenthal. "what'd you miss?" of the things we have seen recently is the legacy media companies really getting hit hard. there's this you that the disruption from startup media is really starting to take its toll. people are cutting the cord and not watching tv. are these legacy companies in terminal decline? this question gets asked a lot. we are certainly seeing a transition from h additional linear television -- we thought move to cable -- we saw it moved to cable and now we are seeing streaming coming in and over the top. aboutk there is concern how that is going to happen in my guess is a lot of these companies are going to have to figure out a way of incorporating the over-the-top technology. we have a whole new set of companies, whether it amazon going into the field of content or apple going into content, hulu, netflix -- netflix doesn't have it all to themselves anymore. you could say it is a natural transition. everyone was nervous when radio was obsoleted so to sp