This is a company that bought back about 1B of their own shares the last three years or so while management sold $1B concurrently and enriched themselves like no comparable. At one point, the most expensive company in the S&P 500. Now they are in serious need for funding to invest in their business. This managment team is just too gimmicky and I have never seen any other like it within the boundary of SOX.
Totally despise Netflix Management
By SFace Follow Tue, 22 Nov 2011, 4:09pm 2,095 views 14 comments
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1,534 comments
Los Angeles, CA
This is how its done! Bravo to thier management.
If they are lucky they can force the company into BK, delist it, then buy it back for 1%(haha) of what they sold in stock and they will then own it outright, the company will still function with most of the existing customers on board and the biggest bonus is anyone dumb enough to invest in stock of a company gets what they deserve. suckers. Buy.com did this. Its legal! Probably its the dream of every CEO.
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Santa Cruz, CA
Only idiots and suckers would have paid a lot of dough for netflix stock.
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Its a DVD rental company.. nothing more nothing less.
I dont know why people market it as a Tech Company...
Thats the problem.. the market slapped a high valuation which wasnt feasible.
Much of the orginal crew at Netflix is gone, replaced by Hollywood types who see only dollar signs.
Good god, my little town of Los Gatos, has been invaded by Hollywood.
The horror of it, the horror.. the horror...
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It's not just that DVD rental company. All those social media, "tech this and tech that and I'm a techie you're a techie, everyone's a techie". It is so Cool, and so Hip, to be "tech".
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thomas.wong1986 says
It seems like those "valuations" have been very much out of touch with reality. Groupon comes to mind really fast.
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At least Netflix is a real company with actual products and customers and (Gasp!) , EARNINGS.
Having lived through too many dot bombs it is nice to see one with staying power. Although i dont own any and i cancelled my membership.
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The most important thing Netflix did was make cinema quality viewing of movies device agnostic. It was, in truth, a considerable achievement in data logistics. The rest of the company was a financial scam and its executives should be thrown from helicopters over the Pacific.
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They sure screwed up a lot lately. Did they not think that splitting services is going to alienate some people. I really thought that was a dumb move by them.
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PockyClipsNow says
I remember that one.
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San Bruno, CA
I dumped this baby at $279 before the crazy dumb decisions (price hike and spilt the company). You just don't see fucking dumbass CEO like Hastings everyday. What a loser.
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Anaheim, CA
I have no use for 'em. They suck..
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$300 a share for Netflix, the only people that thought that was a valid statement, that didn't induce a category F5 headache, are the people that thought $500K for a 1200 sqft ranch house, in Anytown USA.
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Netflix's management doesn't seem to understand that they're not a pre-IPO startup anymore. Reed Hastings is totally right about where video is headed, but if they keep screwing up he won't be there to reap the rewards.
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Boca Raton, FL
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APOCALYPSEFUCK is Tony Manero says
You're confusing Netflix with Torrents and Media Player Classic.