Videos by OutKick
We’ve seen several times in sports where big victories are celebrated at Waffle House, and now we have kind of a first cousin of that: Reed Hastings, the CEO of Netflix, celebrated the news that the company reached the 200 million subscriber milestone with a meal from Denny’s:
At 200m, Rich, it was Denny's on Demand at home. pic.twitter.com/VKgr3qJ0So
— Reed Hastings (@reedhastings) January 20, 2021
As I’ve grown older, I’ve come to appreciate Denny’s. While it doesn’t have quite the ambiance of your local greasy diner, there’s something to be said for its comfort and consistency. That being said, I’m throwing a flag on Hastings for what appears to be a dinner order. Regardless of the time of day, if you’re getting Denny’s, you gotta go for their breakfast offerings.
In addition to the 200 million subscriber milestone, Netflix announced in their earnings report on Tuesday that they expect to be around even with cash flow in 2021 and have positive cash flow after this year. What this means is that they would not have to raise cash, either in the form of more debt or equity, in order to fund their considerable content churn. This is a narrative shift as a lot of skeptics doubted they could ever accomplish that, and the news has led the stock to rise nearly 16 percent today to above $581 per share — the company’s total value is now $256.8 billion.