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To tell the truth, I think Hastings' decisions were just the straw that broke the camel's back. It's stock price was an unrealistic one -- a bubble just waiting to be popped. IMO, NetFlix has an unsustainable business model in streaming.
For example, a new release on Amazon would cost you $3.99 or so to stream, with about $3 of that cost going to the content provider. How can NetFlix possibly compensate content providers for premium content when they are only charging their customers $7.99 a month?
NY Times Includes Reed Hastings in List of "Worst C.E.O.'s of 2011"
Sydney Findelstein, in "Another View" in the NY Times, put together a list of the worst CEO's of 2011 and included Netflix CEO Reed Hastings: My final entry in the Worst C.E.O.’s of 2011 is Reed Hastings of Netflix. And if ever a chief executive found himself in the midst of what the economist ...
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Nov 22, 2009
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