On a spring afternoon, Xavier Niel enters the boardroom of Iliad SA, the Paris-based telecommunications firm he founded two decades ago. He’s wearing a white dress shirt and jeans, the same outfit he’s sported with Steve Jobs–like regularity for years. With his longish hair and rumpled attire, he looks more like a hacker who’s blundered into the wrong office than a man who’s worth $10.5 billion.
When Netflix agreed to pay Comcast to stream its movies to the Internet service provider's customers without infuriating delays, it essentially yielded to monopolistic extortion. Comcast, which has just agreed to acquire Time Warner Cable, will soon be the biggest ISP in the U.S., and stuttering video transmission to its clients is not an option for Netflix. The outcome, however, is good for consumers: They will not be charged for what they are not buying.