It turns out that the public’s tolerance for degenerate propaganda has limits after all.
Shares in Netflix have slumped by 35% after it revealed a sharp drop in subscribers and warned millions more are set to quit the streaming service.
It wiped more than $50bn off the firm’s market value as experts warned it faced a struggle to get back on track.
The mainstream media are reporting this story like it’s some kind of bombshell. But that’s because smartphones have ruined Millennials’ and Zoomers’ attention spans.
If you have a decent medium-term memory, you’ll recall that Netflix has been facing financial woes for years. The whole company has always been a Ponzi scheme. What they tried to do was buy up all the talent in a bid to monopolize the market. That risky gambit just left them overleveraged, which might have been no big deal if they weren’t also facing stiff competition from a host of other streaming services.
The same strategy killed RKO Radio Pictures in the 20th century, and it’ killing Netflix in the 21st.
Even then, Netflix wouldn’t have taken such a huge hit if their corporate leadership were focused on business.
Netflix faces intense competition from streaming rivals, but was also hit after it raised prices and left Russia.
Whatever you think about the current foreign war, it makes zero business sense for an American company to get involved – especially when that involvement means cutting off 700,000 subscribers.
That financial self-own is proof enough that Netflix’s board do not have a profit motive. Which sucks for them since they’re hurting for profits.
Of course, Netflix’s alliance with the Death Cult brings up another not-too-distant memory:
Sorry for the eyebleach-worthy image, but it’s important not to let the media memory hole the Cult’s atrocities.
In a sign of the unease, one of America’s best known investors, William Ackman, ditched his $1.1bn investment in Netflix on Wednesday, taking a loss of more than $400m.
His hedge fund Pershing Square Capital Management had bought the shares just three months ago.
In a brief statement, Mr Ackman said that while Netflix’s plans to change its business model made sense, investing in the company felt too risky.
“While Netflix’s business is fundamentally simple to understand, in light of recent events, we have lost confidence in our ability to predict the company’s future prospects with a sufficient degree of certainty,” he wrote.
In a trading update on Tuesday, Netflix said its total number of subscribers had fallen by 200,000 in the first three months of 2022, falling well short of its target.
“Get woke, go broke” remains a BoomerCon cope. But the steep decline of Netflix does seem to show that a combination of high time preference, corporate incompetence, and terminal wokeness can break the rigged bank and put a Pop Cult corp in serious danger of collapse.
It also means lots of you have stopped giving money to people who hate you.
And just like that, cancelling your Netflix subscription became a hate crime.
Against demons.
This is where I’d post a Satan soyjack meme, but Bing won’t indulge me. Can somebody spot me?
Almost makes me wish I hadn’t canceled Netflix long before Cuties was ever pitched so I could cancel it again.
The kind of news that make me glad I cancelled my subscription. Nature is healing.
Now let them be brought to trial over their distribution and support of Cooties, and I’ll be the happiest man on the Web!
This. Very much this.