Barry Diller: "I Mean, We're Not Valley Girls"

Mr. Diller, whom Forbes magazine estimates is worth $1.5 billion, is a man who is used to getting what he wants. In early November, Mr. Diller, who is 65, announced a plan to spin off parts of his company to create five new entities: IAC, which includes several of Mr. Diller's most well-known brands, including Evite, Match.com, Citysearch and CollegeHumor; HSN, home to several catalogs (Garnet Hill, Smith & Noble) as well as the Home Shopping Network and affiliated Web site; Ticketmaster; Interval International, a time-share resort holding company; and LendingTree, the online mortgage broker.

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"We've always been not only willing but maybe even overanxious to not be tied to anything--meaning anything we've written," said Mr. Diller. "We write nothing in stone. I mean, we're not Valley Girls--we don't change our opinion every hour and a half--but we're willing to say we've gone in the wrong direction. We turn on a dime. We don't look back, we don't care, we're very mistake-tolerant--as long as you don't keep repeating the same mistake."

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