America's Most Underestimated Company

People who think and write about technology companies for a living are prone to be wrong now and again. Try to find, for example, veteran analysts or journalists who haven’t at some point made a claim about Apple that they didn’t later regret. The technology sector is too dynamic, and the growth of certain technologies too explosive and unpredictable, for anyone to be right all the time. That’s part of the fun.

But there is one company that has been more consistently underestimated than any other, whose innovations, growth, and, indeed, survival have been dismissed and denied for nearly all its corporate life. That’s Netflix. Despite a long-term record of success, the company has repeatedly seen its stock, its technology, and its very business model publicly derided.

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