Back in the 1990s, I remember being at a friend’s house in Los Gatos. He was mulling over an offer to become a fairly high-ranking executive at a young company called Netflix, which mailed DVDs on a subscription basis. He decided not to bother.
I guess he can join the rest of us that looks at the NFLX stock chart and thinks about What Might Have Been. The percentage chart below tells the story; indeed, you don’t even have to imagine yourself as being offered a job in the 1990s. Even buying as recently as a few years ago would have yielded an ungodly return. Since the IPO, it’s up about 12,000% and even with a P/E of 330, people are still buying the goddamned thing.