Netflix & Paramount’s WBD Fight Heats Up + Oracle Falls as AI Doubts Grow | The Weekly Wrap

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Dec 12, 2025

Steve Eisman dives into the intense Netflix and Paramount showdown for Warner Bros Discovery, raising doubts about Netflix's $83 billion offer. He analyzes Oracle's stock plunge and the rising concerns around AI, questioning the sustainability of large language models. Updates on the housing market reveal weakening earnings, while Eisman critiques corporate governance and compensation at Warner Bros. With insights into the economic implications of AI spending and productivity gains in engineering, this discussion is packed with financial savvy.

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INSIGHT

Oracle's AI Growth Hides Balance Sheet Strain

Oracle's AI-driven revenue boom masks a stressed balance sheet and rising debt levels.
The market punished Oracle after it raised CapEx guidance from $35B to $50B despite strong backlog growth.

INSIGHT

Housing Signals Remain Soft

Housing fundamentals remain weak with falling backlogs and squeezed margins for builders.
Toll Brothers and Home Depot guidance reinforce a subdued outlook for future housing earnings.

ANECDOTE

From Bewkes's Doubt To Zaslav's Payout

Steve Eisman recounts Jeff Bewkes's 2010 disbelief of Netflix and contrasts it with Netflix's rise.
He highlights David Zaslav's tenure, noting huge CEO pay despite poor company performance and a lucrative sale payoff.

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On this episode of The Weekly Wrap, Steve Eisman breaks down the Netflix/Paramount battle for Warner Bros Discovery and why he isn't certain that Netflix's deal will go through. He also discusses Oracle's rough week, the increasing anxiety surrounding AI, housing updates, and more.

00:00 - Intro

02:23 - Fed Cut Update

02:45 - Oracle's Stock Goes Down

04:37 - Housing Update

05:25 - Netflix & Paramount Battle For Warner Bros.

10:26 - Risks in the AI World

15:53 - Mailbag: Benefits For AI

21:03 - Outro

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