Rupert Murdoch's decision to exit the entertainment business and sell key assets to Disney for $US66 billion in December was motivated by a simple belief.
"From a strategic point of view this is the right [time to sell]," Mr Murdoch said in an interview with the Financial Times. "We are living in an age of enormous disruption."
The octogenarian billionaire was convinced that even though the Fox empire he spent decades nurturing was vast, it wouldn't be able to compete with digital players like Netflix and Amazon.
These internet giants have the financial strength to out-muscle traditional media companies for the best content, and truly global user bases to distribute it across.
In video, Murdoch has retreated to the more familiar terrain of live news and sport, areas Netflix has said it won't touch, and that on face value, look more insulated against.
But what if it's not just the expensive, big budget dramas at risk of being out-manoeuvred by more nimble, digital-native players?
What if another important form of TV is, for want of a better phrase, about to be disrupted? At least one other famous Australian thinks that is eminently possible.
If he is right, the already beaten and bruised TV establishment should be worried.
Even though the disappearing messaging service has struggled since its stockmarket listing, it has become an important part of the internet video landscape.
The unfolding future of TV is one of the themes on Liew's mind as he searches for his next big hit.
"What has started to change is that all these [internet] TV plays, they used to be supplements to regular TV," Liew told Fairfax in a recent interview, "Now they are increasingly becoming substitutes for regular TV, because people are cutting the cord".
It's a well known fact that Americans (weirdly) watch five hours of TV each day. Australians consume about half of that. Much of that viewing is actually passive, or 'companion TV', Liew argues.
For example, think CNN (on in a local context, Sky News) playing while you're in the office or in an airport lounge; or breakfast TV shows while you are getting ready for work; or cooking shows while preparing dinner, sports highlights in the evening.
At the moment, this companion TV is still largely produced by traditional media companies, and distributed through the traditional mechanisms of broadcast and pay TV.
As consumers quit pay TV subscriptions and increasingly stare at their phones, the economics underpinning these shows are also crumbling.
"That [companion TV] has all historically been covered by cable, but if people are cutting the cable cord, then it is going to have to be covered by these [internet TV] plays, somehow" Liew says.
Liew's firm, Lightspeed Venture Partners had made various bets that tie into this theme.
It has backed Cheddar, a live financial news service aimed at millennials (that is expanding into general news) and HQ Trivia, a red hot, live and interactive game show that is said to have attracted as many as 400,000 users.
Both of these shows are streamed on Twitter, the social platform which has suffered its own struggles lately, but now appears to be pinning its hopes on live video.
The Jack Dorsey led service has also launched live shows by Bloomberg and BuzzFeed in recent months. And it has many more shows from well known media companies (including the NFL and PGA Tour) to come next year.
It's to early to gauge the success of many of these experiments, but Wall Street seems impressed.
Last week, JPMorgan analysts upgraded their forecasts for Twitter, based in part on its TV push, and the stock ended 2017 near a two year high.
It will be harder for internet upstarts to with traditional players in live sport, for a simple reason.
"It's expensive," Liew says.
Even Facebook baulked at paying up to secure streaming Indian Premier League cricket matches.
"You can go at it [sport] a couple of ways," says Liew. "If you want to carry the games live, you have to bring a big wallet. That's why it's not a startup opportunity. If you want to do analysis, there might be an opportunity."
This probably helps explain why Murdoch didn't sell the Fox Sports channel in the US to Disney. He didn't sell his controversial 24 hour news channel, Fox News, either.
"Who is going to be the the Fox News of Netflix?" asks Liew.
Maybe the answer is Fox News? Murdoch seems to think so.
According to reports in the US, he is planning a Fox News branded, online streaming service, targeted at the channel's most hardcore fans.
Yet Fox News' audience is rapidly aging (the median age of a viewer is nearly 70). CNN is not much younger. This is leaving a gap in the market for services catered to millennials and generations beneath them.
And Liew is betting that this void won't be filled by the traditional players, but by someone else.