I have been psychologically short $NFLX for years and believe this year has vindicated that psychological short. Unfortunately I was way too much of a chicken to actually short/buy puts 😂 In all seriousness, my bear case has always been that they cannot keep up content spend to justify their growth without massive hits. The massive hits have faded away which has significantly hurt the type of subscriber/adgrowth needed for the stock to expand from its premium multiple. YouTube’s algorithm was another bear case. How does Netflix compete with a creator economy that is growing rapidly without spending even more money? The move to buy Warner Bros, live sports, podcasting…all of it was to hide that they just don’t have the massive hits needed to keep growing. HOWEVER…at some point, the c
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