Opinion and Commentary By Donna A. Westfall – July 27, 2024 We've subscribed to Netflix…
Opinion and Commentary By Donna A. Westfall – July 27, 2024 We've subscribed to Netflix for a number of years and have enjoyed having such a wide range of movies to choose from. But here's the thing. Today I read an article about the Founder and former Co-CEO of Netflix donating $7 million to a super PAC (Political Action Committee) that supports Kamala Harris's campaign for President. Since I rarely take anyone's word, I had to research this. Here's what I found: Wilmot Reed Hastings Jr. was born in 1960 and is the founder and former Co-CEO of Netflix along with Marc Randolph. He is a billionaire and currently holds the title as Executive Chairman of Netflix eligible for $500,000 year base salary + nearly $3 million in stock options. He goes by Reed Hastings. He's been called a Democratic megadonor. After the Trump-Biden debate he said that Biden needs to step aside. Initially he did not support Harris, but flipped almost the next day and made the decision to donate $7 million to the PAC. Incidentally, salaries for employees can range from $35,000 to $400,000. They're based in Los Gatos, California. Apparently, they are a good company to work for. Hastings has certainly earned his place in the history books for his entrepreneurship. Thursday's share price was $636. Now if he were a Republican and wanted to donate to a PAC that supported Trump I would have no problem with that. But that's not the case. Hastings supports a politician that I think stinks. I thought Kamala Harris was lousy as an Attorney General for the State of California. I thought Kamala Harris was lousy as a Senator for California. And, I think she's lousy as Vice President under the worst President in my lifetime, Biden. Bottom line, if you think we've lost freedoms under Biden, if crime is more rampant, interests rates too high, inflation the worst in 40 years, then practically deserting our allies, then just think what life would be like under President Harris. Doug and I are going to have some interesting conversations about whether or not we would be willing to continue to support Netflix. I'm leaning towards canceling our membership. I'm sure this would not make a dent in Hastings net worth. But, it's one small action that can be taken.