Netflix hasn’t done much wrong, despite a 35% plunge on quarterly results this past week, and a 22% one back in January. The company has convinced 222 million customers worldwide to hand it an average of nearly $12 apiece each month—no small feat.
It did that by creating a peerless streaming experience, reinventing how movies and shows are enjoyed, and, OK, burning through $9 billion over the past seven years to give customers more Hollywood pizazz than they were paying for.
That…
