TMTB: NFLX Post-call takes
Couple nitpicks…First, Jack at JPM points out on paid sharing:
“I got the sense mgmt was slightly walking away from focusing on converting borrowers vs just signing up new members, be it new cohorts or prior borrowers. This is a slightly different message to that given by mgmt at Q3 where in relation to paid sharing, mgmt said “we anticipate that we wil…