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Netflix: From Builder to Buyer

Thomas Chua by Thomas Chua
23 January 2026
in Investing
14 min read

Insider Stocks · For members

An entry from my investing journal, for members.

For years, Netflix insisted they were builders, not buyers. Then they wrote an $83 billion check for Warner Bros.

Insider Stocks

The rest of this entry is for members

Before I buy a business, and before I sell one, I write up what I see: what it earns, what it’s worth, what could break it. Members read every entry, back to 2021. At least two new entries a month, more during earnings season.

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