Interesting. I take that Mixer example as quite the opposite: throwing money at game streamers only really makes sense if they're trying to get yet another point of integration for gamers, no?

I take your word for it that the execution was lacking - and, perhaps, they were never going to win. Perhaps that's why they keep buying other, successful companies.

But it still builds to the same picture: even if they suck as operators, they're building a pretty darn big machine.