FT News Briefing Netflix rallies despite subscriber losses
Jul 20, 2022
Netflix's shares rise unexpectedly even after losing a million subscribers, surprising analysts. Meanwhile, Chinese venture capital firms are struggling as foreign investors retreat amid rising regulatory pressures. The political landscape in Brazil heats up as former President Lula aims for a comeback, promising economic reforms to tackle poverty. His plans and the opposition's counter-strategies are shaping the nation's future amidst social challenges. It's a mix of entertainment, finance, and politics!
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Netflix Stock Recovers
- Netflix shares rallied despite a significant subscriber loss last quarter, defying expectations.
- This was partly due to the success of shows like 'Stranger Things', indicating content strength.
Chinese VC Funding Crunch
- Chinese venture capital firms face funding challenges as foreign investors withdraw due to government crackdowns, COVID lockdowns, and sanctions.
- While larger firms like Sequoia China continue to raise capital, smaller firms struggle, impacting the broader tech ecosystem.
Lula's Comeback Bid
- Former Brazilian President Lula da Silva is running for office again, aiming to address rising poverty and hunger under Bolsonaro's leadership.
- Lula plans to reinstate social programs, focusing on education and healthcare, but faces questions about funding due to the current economic climate.