from Hacker News

Elon Musks take on why Netflix is tanking

by node-bayarea on 4/20/22, 1:45 PM with 10 comments

  • by arrakis2021 on 4/20/22, 2:08 PM

    Netflix is churning out an insane amount of content that is background noise at best and barely watchable at worst.

    They also lost a lot of face defending “Cuties” - which was basically kiddie porn disguised as an art house film.

  • by subsubzero on 4/20/22, 4:43 PM

    A few things:

    - Growth stocks will drop and keep dropping as interest rates increase, NFLX does not make money and is classic growth, the companies valuation is $30-50B at best and I expect it to fall to that level.

    - Like others have said NFLX's content currently is terrible, alot of their hit shows have either ended or are on hiatus due to the pandemic.

    - Their monthly prices are high and given the above point households are throwing out the trash so to speak and nothing NFLX has supports a $20 monthly subscription.

    - Supporting kid porn like "cuties" made alot of people mad, unsure why they chose this position but its just shooting themselves in the foot.

  • by kmos17 on 4/20/22, 3:40 PM

    Price increases in the middle of an unprecedented glut of content on so many other competing services, and a lot of strong competition. It’s not surprising. They also need more editing, there is a lot of good content on Netflix but there is so much crap it’s hard to find.

  • by raxxorraxor on 4/20/22, 2:03 PM

    I think the issue is simply that we again had publishers trying to start their own platforms and withdraw a lot of content. Some with success like Disney.

    But I otherwise sympathise with what Musk writes, content might be more enjoyable if we could tune that down a bit.

  • by mytailorisrich on 4/20/22, 3:15 PM

    They seem to be wiping out all the gains from the last 2 years but are still up 55% over 5 years.

  • by sharemywin on 4/20/22, 2:10 PM

    It's pretty simple the content sucks.

    It's a problem a lot of streaming services have.

  • by schwartzworld on 4/20/22, 5:22 PM

    What an astonishing take from musk, quite shocking that the billionaire son of apartheid diamond magnates dislikes wokeness.