AV Rant #255: Oreo S&M
You’ll have to get all the way to the end of the podcast to figure out the name. Sorry about that. Tom and Liz get their Netflix wish from listener Jason (thank you Jason). Speaking of Netflix, they lost a few subscribers. A Lego man washes up in Florida. Tom found a high-end/cost speaker which sends him on a rant. Meridian has released a “sub” that defies description. The video game industry might be getting a clue about piracy…or maybe not. Joss Whedon has Liz all excited about Shakespeare. Soup to Nuts is listener questions/comments from Alex, Simon, and Ahmed. Thanks for listening and don’t forget to vote for us at Podcast Alley! To see our (mostly) complete collection of show videos, click here. Download Tom’s FREE ebook Bob Moore: No Hero which is pretty much available everywhere. Friend Tom and Liz on Google+ to join in on one of our hangouts.
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Liz: Stockholders may be short-sighted idiotic scaredy-cats, but they OWN the company. If they want to make a change, well, they’re the owners.
I don’t think Hastings should go because he doesn’t know what he’s doing, even though I’m not sure he knows what he’s doing. He should go because of a statement he made while arguing with Whitney Tilson less than a year ago: “The core competitive barrier for direct competitors is brand/subscriber-evangelism. Our large subscriber base is very happy with Netflix, and tells their friends about Netflix. That means that the cost of acquiring the incremental 1m subscribers is lower for us than for a competitor, and thus our net additions are higher. There are also lots of other smaller competitive barriers, but the happy subscriber base is the big one.” http://seekingalpha.com/article/242653-netflix-ceo-reed-hastings-responds-to-whitney-tilson-cover-your-short-position-now
Yep. it was the big one, Reed, and you blew it big time. And I doubt there’s any way to get it back.
Oh, and Tom, as to whether Netflix is now undervalued, try this: http://seekingalpha.com/article/302726-a-response-to-whitney-tilson-s-netflix-flip-flop