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Netflix-pocalypse: The Human Toll

Reed Hastings' recent stock swoon could portend a compensation crisis inside his executive ranks. But the right-sized valuation might just bring some competitive normalcy to the rest of the entertainment industry.

Netflix Golden Globes party
Photo by Tommaso Boddi/Getty Images
Matthew Belloni
January 28, 2022

The only thing people love more than gawking at a fiery car crash is when that crash involves a fancy sportscar. This explains why the recent Netflix stock swoon has consumed so much of the chatter around Hollywood. Netflix shares have swung wildly before, and the price inched up in the past few days, likely thanks to the $1 billion bet made on Wednesday by investor Bill Ackman. But after peaking at around $700 in November, shares closed at $387 today. For now, at least, it’s a full-on retrenchment, and Schadenfreude seems to be everywhere.