The Nadir of Netflix

Nicholas Thompson at The New Yorker:

For a brief moment, the waters calmed. But yesterday, in its earning call, Netflix announced that the past quarter was grim and that future subscriber growth will be much lower than anticipated. The stock is down fourteen per cent today and seventy per cent since the summer. In August, a share of Netflix cost sixty dollars less than a share of Apple. Now it costs four hundred and sixty dollars less.