Viacom and CBS Vice Chair Shari Redstone talks with Recode's Peter Kafka at the 2017 Code Conference about the venture firm she co-founded in 2011, Advancit Capital, and why it operates outside of her other companies. She says her biggest mistake there was not investing in Twitch in 2011 because she thought the video game-streaming company was already too highly valued. Redstone also discusses how content companies like Viacom are facing the challenges of the digital age and why they don't necessarily need to sell themselves off, as Time Warner is trying to do. She says she's not too worried about tech companies like Twitter, Google and Facebook making bids for the rights to NFL games, which CBS has locked up for several years. Learn more about your ad choices. Visit podcastchoices.com/adchoices