The Importance of Reflexivity

I don't necessarily have a strong feeling one way or the other on any metric being better than another, but you have that problem. A lot of companies are too aware of the stuff and then you get the reflexivity things. Wall Street was valuing streaming subscribers like Net subscriber ads at this incredible level and they all bought into it. I remember the housing boom and it was interesting reading interviews or listening to home builder CEOs trying to come up with explanations for why something was happening. They probably didn't believe it. It's just the world that they were living in.