Ralph Roberts paid $500,000 for a 1,200-subscriber cable franchise in Tupelo, Mississippi in 1963 after spotting a Wall Street Journal advertisement. Sixty years later, Comcast generates $123.7 billion in annual revenue. The intervening period is not a story about a brilliant technological vision — it's a story about what happens when physical infrastructure ownership compounds for six decades in a country that never built duplicate cable networks. Headquartered in Philadelphia, Comcast operates as the largest cable television and internet service provider in the United States and one of the world's largest media and technology conglomerates. The Xfinity brand serves residential and business customers across the cable footprint. NBCUniversal operates broadcast networks, cable channels, film studios, and theme parks — a content and entertainment business that exists partly to differentiate Comcast's broadband bundle and partly as a standalone profit center. Sunday Night Football on NBC has been the most-watched primetime program in American television for thirteen consecutive seasons. That franchise — the combination of NFL broadcast rights, NBC's production capabilities, and Comcast's distribution infrastructure — is the most valuable advertising property the company owns. It is also the property most dependent on the NFL's continued dominance of American sports culture. The $8.5 billion Epic Universe theme park in Orlando represents one of the largest single entertainment capital investments in American history, with Harry Potter and Nintendo as anchor attractions. The bet is that physical experience cannot be streamed — that Comcast's investment in irreplaceable physical entertainment creates revenue streams immune to the competitive pressure that has eroded linear cable.