The biggest news in the market today is the huge drop in Netflix’s share price. It plunged 35 percent, wiping out $50 billion in market cap.
According to CNN:
The company blames many factors for its subscriber exodus, including competition and widespread password sharing. In its letter to investors Tuesday, Netflix also pointed fingers at “macro factors” that are affecting many companies right now, such as “sluggish economic growth, increasing inflation, geopolitical events such as Russia’s invasion of Ukraine and some continued disruption from Covid.”
Of course, such times are great opportunities for some jests and cynicisms. After all, who do they think they are, always trying to take advantage of us humble consumers, right? Not really. Let’s take a moment and think if we should really feel entitled to such reactive negativity.
Netflix is a disruptor of the film industry, just like how Apple’s iTunes has changed the way we listen to music, Netflix has changed the way we watch movies and dramas. Over the years, it has released some of the most brilliant shows for us and we have to admit it has brought much entertainment and laughter to millions of living rooms around the world.
Netflix is just like any businesses out there, albeit a much bigger one. They will need to make money and in the process, they will have to make difficult decisions that disappoint some people. Some experts say this is just a blip for them. Others say it could be the start of a massive downfall. Obviously, I don’t have a crystal ball and I decline to sacrifice any of my brain cells to indulge in such speculations.
Instead of taking an opportunistic jab, perhaps we can remind ourselves to be grateful and choose to be kind. Yes, why can’t we be kind to a multimillion-dollar conglomerate just like how we are inclined to show kindness to the people around us? Afterall, kindness is kindness and being kind to others is being kind to ourselves.