A lot has been written about Netflix’s recent announcements, related 60% stock price plummet, and then yesterday’s sooner-than-expected reversal. Most commentators panned Netflix’s tin ear, their inability to communicate, their sheer hubris at making things more inconvenient and more expensive for their customers. What were they thinking?

I couldn’t disagree more.

Breaking Netflix into two separate companies ahead of massive, unavoidable changes in their industry was a bold, visionary m...

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