Up & Down the Street
In this week’s issue of the New Yorker, there’s an intriguing profile about Netflix CEO Reed Hastings and his company’s boom.
The lengthy piece, penned by Ken Auletta, is an interesting deep-dive on how the streaming site maneuvered away from the edge of irrelevance to the dominant, Emmy-winning, Robin Wright-purveying entertainment powerhouse that it is.
Sometimes, sheer absurdity can be a beautiful thing to watch. Like Karl Rove on Fox News on election night. Or Will Arnett in pretty much any role he’s ever played. Or the behavior of Netflix stock over the past few weeks. After a year in which NFLX has Ping-Ponged between $53 and $133, it was suddenly—and absurdly—a safe haven in the midst of a post-Obama-re-election market meltdown. Apple may be taking over the world, but Netflix stock rose 2.5 percent to $78 last week while that of the Cupertino juggernaut fell by more than 5 percent. In hopes of getting by email spam filters and pesky copy editors, I will pose the resultant question as simply and cleanly as I can: WTF?
It’s been quite a month for shareholders of the DVD rental and online video streaming service.
As Netflix continues to emerge as a powerhouse in the web tv market, the traditional cable companies are trying to cripple the company by jacking up the price to carry their data.
In a letter to shareholders CEO Reed Hastings made it plain the company won’t take this lying down.
“Tomorrow, we’ll publish Read More