July 21, 2020

The Razor's Edge #20: Captain Twilio on Netflix's Dominant Position And The Streaming Wars

53 minutes

We're joined by friend of The Razor's Edge and professional investor Captain Twilio, as he's known. As someone who has only owned two stocks in his portfolio since 2012 - Netflix from 2012-2017 and Twilio in the three years since - he has a laser focused approach to growth investing, and it's worked.

In the wake of Netflix's most recent, pandemic-fueled earnings report, we brought him on to see where he thinks the company sits, and what we all make of the report and Netflix's positioning. We also cover Captain's Twilio position at length, though that will be part two of this episode, coming out around Twilio's earnings.

Topics Covered

3:30 - Background on the Captain's positioning

7:30 - Understanding the old Netflix long case and the growth investor mindset

12:30 - Why swap out?

14:30 - Attention span issue and the new threat of Tiktok

21:00 - The competitive landscape

27:00 - The old distribution vs. content question

30:00 - The streaming wars and what attrition looks like

34:30 - The most recent earnings call, and what lands are left for Netflix to conquer?

43:00 - Peak Hollywood and our changing viewing habits

Relevant Links:

Akram's Razor - Netflix: This Stock's Story Is Over