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Netflix (NFLX) CEO Reed Hastings "seemed to lack an empathy gene" and "just doesn't understand...

  • Thursday, October 11, 2012, 6:28 PM ET
    Netflix (NFLX) CEO Reed Hastings "seemed to lack an empathy gene" and "just doesn't understand the consumer-facing aspects of [his company's] business," says journalist Gina Keating, whose book about Netflix's history went on sale today. Following last year's events, some Netflix critics probably agree. But Keating also has some good things to say. "I hope that people recognize he is a genius ... Wall Street and naysayers are wrong to bet against this company."
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    A Mexican corporation, Cineopolis owns and operates about 1500 theaters in Mexico, Latin and South America. They opened their first theater in the United States in a very trendy shopping center in Del Mar, California about one year ago and a second in La Costa some 5 miles up the coast within the last six months. The theater shows first run films, is designed much like a first class airline cabin with stadium seating and replete with cushy leather seats, standard foot rest, a call button for your waiter and it offers table service from snacks through dinner and wine, beer and cocktails are available. The cost of the movie: $20. The rest is based on what you eat and drink. The theaters are located in two very upscale areas and they are generally 'packed.' It's an experience and without a reservation, you probably won't get in. Simply, put, it's expensive, and it's taken hold as a new kind of date night at the movies. Perhaps this is the future for those who can afford the price of tickets, food and drink. For the great majority of Americans, I would imagine that streaming video is fast becoming the easiest and most satisfying way to 'go to the movies.' And it seems likely that this at-home, immediate and low-cost entertainment lifestyle will 'take' internationally as well. For these reasons, I believe Netflix will stay in the lead position, expand and prosper. The technology is amazing!

    miriam
    11 Oct 2012, 10:02 PM Reply Like
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    As a consumer of Netflix I love the service, and moreover i despise cable more than ever. As a firm I am perplexed. The model appears flawed , as content owners have leverage over Netflix and can destabilize the firm.
    In this phase of expansion overseas it's not clear what the endpoint will be. As an investor I don't have sufficient knowledge to predict Where it will settle . So I will take a pass until I get it.
    11 Oct 2012, 10:50 PM Reply Like
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