I think given that the iPhone wasn't introduced until 2007 and no one had any idea then what a behemoth iTunes and iPhone would become that's a fairly understandable miscalculation. Perhaps worth noting that neither ABN or any of dominic's businesses are directly competing with any of the giants the way DES was.
I'm quite happy to have someone who's suffered a wipeout on board. The lessons learned from such an experience are priceless and clearly he's learned them if you look closely at how he operates now.
ABN Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held