for twitter, they are repackaging tweets in video form first with their apple tv app, xbox tv app.hey want to make sure people can get into twitter through live streaming. >> we are seeing an increasingly incestuous relationship between the two companies. you have dorsey on disney's board. you have the two of them doing deals together on the content side, through disney's investments in video streaming. previously, we had said media companies are probably not the best to buy twitter because twitter has to stay agnostic, but i think disney could be the unique exception to that rule. >> it has been a tough year for hedge funds globally. has$11 billion hedge fund closed its singapore trading desks. what background do we have here? >> it's a big story on downsizing and restructuring. it is one of the oldest and most respected entities on the street with about $11 billion u.s. it has been in existence since 1980. it had phenomenal returns in the first years after it started. the returns have been lackluster over the last year, and that resulted in pretty sizable investor withdrawals thi

there apple tv at and their xbox tv app they want to make sure , that people can get into twitter throughaming. emily: does disney buying twitter make sense to you? >> i think so. back in july we said we see it as one of the most two realistic contenders, the other being microsoft. how do you operate in a post cord cutting out? -- world? you have to have the investments in video streaming and the second one is distribution through each audience, and that is what disney could potentially provide. we are seeing an increasingly incestuous relationship. you have dorsey on disney's board, doing deals together. thehe content side through investments in video streaming at disney. previously we had said media companies are probably not the best to buy twitter, that i -- because they have to stay agnostic, but i think that disney could be the unique exception to that rule. emily: as you said, jack dorsey on the board of disney and bob iger, the ceo of disney has not shied away from making big bets. he bought pixar. does it make sense to double down on sports and espn itself is struggling? >> espn

tv apps. is there a big video game? you can even buy a controller that sort of looks like an xbox controller for your apple tv.s there a video game opportunity that maybe we're understating for apple? >> i don't think so. i think if we're looking at the size of the market, the video business is vastly the bigger market on a global scale in particular. you get into the console, kind of competitive business, what you're going to do is lose out to the dedicated guys on the high end. you can have an opportunity with casual games. on the television, that's just not that big of a market. and nintendo's performance in the last couple of cycles has probably shown us that. >> in terms of your model, if apple doesn't have any success with any sort of tv product, does that impact it at all or just never made it into the model to begin with. >> more of the latter. hasn't made it into the model. the strategy hasn't been effective. so for us, yeah, video, any success in video would be upside for sure. >> andy, thanks for joining us. appreciate it. andy hargraves, pacific crest. >>> on deck, opportunity for you to make some