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What to expect from the 2027 Medicare outpatient pay final rules
Medicare payment rules for outpatient care are due within days.
Bass and Raman skirmish over treatment of small business. The Valley is a battleground
L.A. mayoral candidates Bass and Raman skirmish over their support for small businesses. The San Fernando Valley is a battleground
AI and IP: The new trade secret frontier
The use of AI creates an opportunity to develop a new type of knowledge that is more valuable than the knowledge a company or an employee had in the past.
Community investments: How affordable financing supports housing and small business growth
FHLBank Chicago’s Katie Naftzger shares how the institution has expanded their Mortgage Partnership Finance® (MPF®) Habitat for Humanity® Program in response to rising costs.
Bass and Raman skirmish over treatment of small business. The Valley is a battleground
L.A. mayoral candidates Bass and Raman skirmish over their support for small businesses. The San Fernando Valley is a battleground
Bass and Raman skirmish over treatment of small business. The Valley is a battleground
L.A. mayoral candidates Bass and Raman skirmish over their support for small businesses. The San Fernando Valley is a battleground
‘Astronomical’ Arab turnout could reshape Israeli politics in key election
Netanyahu’s opponents consider unprecedented alliances to keep him out of power
Michigan Medicine’s new AI chief joins a fast-growing club of hospital executives
The fast-paced ramp-up of AI and financial pressures have health systems scrambling to find an executive to oversee adoption and implementation.
Michigan Medicine’s new AI chief joins a fast-growing club of hospital executives
The fast-paced ramp-up of AI and financial pressures have health systems scrambling to find an executive to oversee adoption and implementation.
Michigan’s new $82M unemployment system launches Nov. 9 after long development process
The new MiUI system will allow unemployed workers to file claims, certify for benefits, view payments and do other tasks through the platform.
Mayor Bibb is building a national profile. Cleveland’s voter turnout is the question hanging over it.
Cleveland's Mayor Bibb is pursuing a national profile but voter turnout may hamper those efforts.
Office of Mental Health to relax prior approval process for changing services
The changes will streamline the state’s review and approval process for more than a thousand mental health programs.
Inside the Trump Administration's Dismantling of a Health Care Research Office
The Agency for Healthcare Research and Quality has few remaining grant officers and has redirected millions in taxpayer dollars without telling Congress.
BGOV OnPoint: Small Business Contracting Competition in Flux
A proposed overhaul of small business eligibility standards could expose nearly 57,000 small federal vendors to larger rivals, including publicly traded companies.
Americans for Prosperity dropped its support for Martina White and other GOP lawmakers over their prevailing-wage vote
The right-leaning group has pulled its endorsements at a time when Republicans in swing districts may need all the help they can get.
Pro wrestling world mourns as former champion, actor dies at 79. Here’s the latest
He had been batlting several serious health issues.
Wieden+Kennedy launches entertainment division to make movies and shows—with and without brands
W+K Entertainment will develop original projects, starting with a Bad Bunny film, and help clients break into Hollywood.
How Beacon Health System Closed an 8,000-Patient Care Gap in Under Eight Weeks
Beacon Health System used agentic AI to reach 8,000 overdue patients, improve colorectal cancer screening and generate measurable ROI.
Is The Traditional Business Plan Becoming Obsolete?
Is the traditional business plan obsolete? Discover how rolling forecasts, AI, and scenario planning help entrepreneurs make smarter financial decisions.
Bipartisan bankruptcy bill will help struggling small businesses
It’s good for for creditors and landlords, too.
Clune Construction: The discipline and adaptability behind our growth
Clune Construction scales nationally through innovation, employee ownership and consistent project delivery while preserving its culture.
Yoonha Sues C9 Japanese yen Entertainment Over Unpaid Settlements
Yoonha Sues C9 Japanese yen Entertainment Over Unpaid Settlements Singer Terminates 14-Year Contract After Legal Dispute; Agency Awaits Court Ruling
IRGC Spokesman Mocks CENTCOM Chief over Hormuz Flight
TEHRAN (Tasnim) – IRGC Spokesperson Brigadier General Hossein Mohebbi urged CENTCOM Commander Brad Cooper to face reality after his flight over the Strait of Hormuz, using the latest oil price to challenge Washington’s claims that the strategic waterway remains open.
Kane primed to pip Yamal, Mbappe to Ballon d'Or glory
England captain Harry Kane is the favourite to win a wide open race to be crowned Ballon d'Or winner at a glitzy London ceremony on Monday, with Lamine Yamal and Kylian Mbappe also in the running to be named the world's best footballer.- 'I deserve it' - Yamal finished second to Paris Saint-Germain's Ousmane Dembele last year and the 19-year-old Barcelona superstar seems destined to be a Ballon d'Or winner one day.
Ministry of Science and ICT Probes Douzone Bizon Breach
Ministry of Science and ICT Probes Douzone Bizon Breach Public-Private Joint Investigation Team Formed to Assess Cybersecurity Impact
He left his Netflix job in Japan and turned a kindergarten into a cinema
After relocating from Los Angeles, Matthew Kelson and his wife decided to raise their two kids in a small Japanese town outside Tokyo.
Ewa Beach shooting survivor overcomes another health scare
Three years after surviving a gunshot to the head, Richianna DeGuzman is heading back to rehab following a week-long stay in the ICU.
Political expert explains what Vice President JD Vance’s upcoming visit means for Kansas
Vice President JD Vance is hosting a rally in Topeka Monday.
Independence family pleads for help finding stolen work truck that supports small business
An Independence mother says her family’s livelihood was stolen from their own driveway.
How Do the Blazers Stop Luka Doncic?
Fresh off a 2-0 start, Portland faces a 52-point fireball in Los Angeles. To survive, the Blazers must stifle the high pick-and-roll while shielding their smaller guards.
Yoonha Leaves C9 Entertainment After 14-Year Unpaid Settlement Dispute
Yoonha Leaves C9 Entertainment After 14-Year Unpaid Settlement Dispute Singer Files Lawsuit Over Unpaid Funds, Continues Music Career Independently
‘Plans to die in office': Bay Area congressman's ex-aides protest challenger's ads
Seven former staffers of Rep. Mike Thompson demand that challenger Eric Jones' campaign remove a commercial targeting the North Bay legislator.
Georgia lands son of music star in notable recruitment win
Georgia football secured a notable win during its bye week Sunday. And in the process, coach Kirby Smart and company win over fans of country star Luke Bryan. That’s because his son Bo Bryan is joining the 2027 recruiting class. The three-star quarterback chose the Bulldogs officially, becoming the newest College Football Recruiting win for […] The post Georgia lands son of music star in notable recruitment win appeared first on ClutchPoints.
Man completes 12,000-mile walk across America’s four corners in Lubec for mental health awareness
Kyndal Ray Edwards, a mental health coach from Jacksonville, Florida, crossed the finish line at West Quoddy Head Lighthouse in Lubec on Sunday afternoon after visiting all four corners of the contiguous United States. Along the way, he raised funds for the nonprofit Never Alone Recovery.
Iowa bishop says White House visit was 'exploited' for politics
Two Catholic bishops criticized how their White House visit was used after being told the gathering would be private.
Politics Unplugged (Full Episode) Oct. 25, 2026
On this week's episode of Politics Unplugged, host Dennis Welch and a panel break down Arizona's election landscape one week out: pessimistic voter mood, suppressed independent turnout, lagging GOP enthusiasm, and Democrats gaining ground. They discuss Elon Musk's late spending in competitive House races and debate the impact of big money flooding the state. The show also covers a widely condemned Ohio attack ad by Vivek Ramaswamy that weaponizes a rival's childhood abuse—drawing praise from Trump and Vance but bipartisan outrage.
Scientists discover Arctic sea ice loss could be far worse than predicted
Arctic winter sea ice could disappear much faster than scientists previously expected, according to new research using climate clues from 6,000 years ago. By comparing ancient ocean sediments with modern climate models, researchers found that future winter ice coverage may be roughly one million square kilometers smaller than earlier predictions suggested.
Tiny magnetic vortices could help computers work more like your brain
Scientists have filmed tiny magnetic vortices called skyrmions melting out of an organized lattice for the first time, revealing new ways to manipulate these unusual structures. The breakthrough could help make brain-like computers a reality, potentially enabling dramatically smaller and more energy-efficient technology.
$5,000 checks, political attacks and winding remarks: Takeaways from Trump’s Michigan rally
12 Fun USB-C Gadgets For Your Home Office Desk
Some fun USB-C desk gadgets include the Dockcase Explorer Smart USB-C Hub, Raspberry Pi 500, Creative Pebble SE, Kodak Charmera, and the Divoom Ditoo Pro.
Veteran Makers Market highlights importance of supporting veteran-owned businesses
The Veteran Makers Market spotlights veteran-owned businesses, encouraging shoppers to support those turning military skills into local success.
Sunday Sports: Section 3 football matchups announced and more
Here’s a recap of your North Country sports this Sunday.
Walnut Ridge business starts coat drive for community
The Farm Service Tire Center in Walnut Ridge is hosting its first-ever coat drive, running now through Dec. 21.
Peoria business leader accused of DUI in deadly UTV crash
A business executive well known in the local sport community has been arrested on drunk driving accusations for a crash that killed a woman late Saturday night in rural Peoria County.
Hinge damage suspected to be behind iPhone Duo screen cracks
The cause behind a repeating pattern in the way a very small amount of iPhone Duo screen cracks may have been discovered, with a failing element of the hinge believed to be causing the most damage.
Novant Health hosting Hilton Head hiring event Oct. 28
Novant Health will host a healthcare hiring event Oct. 28 on Hilton Head Island for nursing, laboratory, pharmacy and other positions.
Is an Academy of Natural Sciences divorce coming?
Hearings for the museum are coming Monday. Will it make a difference?
Mobile County Health Department updates sentinel chicken test
It concerned testing for St. Louis encephalitis
New Sistersville General Hospital marks milestone with final beam signing
Memorial Health System celebrated a milestone for the new Sistersville General Hospital with a final beam signing ahead of its 2027 opening, marking progress on expanded rural health care.
New heist movie starring Pete Davidson to finally hit theaters in November
Billed as ”Point Break" meets “Fast and Furious,” Davidson will share the silver screen with Nicholas Hoult and Zoë Kravitz.
Why is the U.S. accusing Canada of election interference?
the U.S. Embassy accused Canadian officials of meeting with Democratic lawmakers, urging the use of retaliatory levies to hit Republican states, and running anti-tariff political advertising.
Retire Your Old Fountain: The Alternative From Home Depot Perfect For Your Small Patio
The Teamson Solar Gray Stone Wall Fountain from Home Depot is a great fountain for small patios thanks to its compact size and solar powered design.
Orlando Science Center hosts Halloween party
Adults can enjoy an open bar, laser shows, and more at the Orlando Science Center's Halloween After Dark on October 31.
Memorial Health celebrates staff with trunk-or-treat
Memorial Health went all out for its annual trunk-or-treat event, celebrating team members and their families.
The rise and fall of Route 66
Route 66 was one of America's most popular highways, driving business to small towns. But today, the road and its people have been largely forgotten.
ESMO: Roche touts ‘convincing’ phase 3 KRAS data after win over rivals
Roche has shed more light on its investigational KRAS G12C inhibitor's phase 3 victory over Amgen’s Lumakras and Bristol Myers Squibb’s Krazati. The open-label Krascendo 1 trial enrolled 338 people with previously treated KRAS G12C-mutated non-small cell lung cancer (NSCLC). Patients who had already received a KRAS G12C inhibitor or pan-KRAS/RAS inhibitor were excluded from the trial. Participants received either divarasib once daily, Lumakras once daily or Krazati twice daily. Roche announced back in July that divarasib had demonstrated statistically significant improvements in progression-free survival (PFS) and overall survival (OS), meeting the trial’s primary and key secondary endpoints. But the Swiss pharma had been holding back the detailed data until now. At the European Society for Medical Oncology (ESMO) Congress in Madrid, Roche revealed that median OS for the 167 patients who received divarasib was 17.7 months, compared to 12 months for the 171 patients who received Lumakras or Krazati. The benefit was similarly clear when it came to median PFS, which stood at 9.8 months versus 5.7 months, respectively. A total of 44% of patients receiving divarasib were alive without disease progression at one year, compared to 24% of the control group, according to Roche’s presentation. It was a similar story for the objective response rate, which came in at 58% for divarasib versus 32% for the control group, while median duration of response was 11.9 months versus 6.9 months. Stefan Frings, M.D., Ph.D., deputy chief medical officer at Roche Pharma, told Fierce that the data made for a “very comprehensive, strong package, which should be convincing to health authorities.” “It’s an important advance for patients with lung cancer,” Frings said in an interview at a Madrid hotel during the conference. “It's a second-line setting, and patients who receive divarasib benefit compared to the current first-generation KRAS G12C inhibitors by having far longer overall survival,” he continued. “They live longer. They have better progression-free survival, better response rates, and with a safety profile which is—if [anything]—even better,” he said. According to Roche, 4.8% of patients receiving divarasib discontinued treatment due to treatment-related adverse events, compared to 11.7% in the control group. Serious treatment-related adverse events were also less common with divarasib, at 7.8% versus 15.2%. Roche’s confidence in divarasib had been building even before this phase 3 success. The candidate had already shown better potency and selectivity than the incumbent KRAS G12C inhibitors Krazati and Lumakras in preclinical tests. After cross-trial comparisons suggested that the edge translated into better clinical outcomes, Roche axed a study comparing divarasib to the chemotherapy docetaxel and went toe-to-toe with Lumakras and Krazati. “We designed the drug on purpose with higher potency and better selectivity,” Frings explained. “So, based on preclinical models, we clearly knew it would be superior to the first generation.” “It’s honestly not so frequent that pharma companies go head-to-head,” he added. “But if you want to make a point, if you want to convince payers, prescribers and patients … then a head-to-head win is rather rewarding.” While Amgen and BMS reached the regulatory finish line first for KRAS G12C-mutated, locally advanced or metastatic NSCLC in 2021 and 2022, respectively, they have struggled to capitalize on their head start. Krazati brought in $55 million for BMS in the second quarter, while Lumakras delivered $111 million to Amgen. For its part, Roche is aiming for peak divarasib sales of 1 billion to 2 billion Swiss francs ($1.2 billion to $2.5 billion), according to Frings. The Big Pharma is currently recruiting patients into a phase 3 trial comparing divarasib plus Keytruda against Keytruda plus chemotherapy in previously untreated advanced or metastatic nonsquamous KRAS G12C-mutated NSCLC. Roche has previously suggested that sales in metastatic disease would account for most of the forecast. Frings was tight-lipped on the exact timeline for a regulatory filing but said the Swiss pharma is “certainly keen to get this to as many patients as possible around the world.” Roche has more RAS drugs coming up behind divarasib. The pharma has already launched phase 1 trials of a pan-RAS inhibitor called RG6505 and a KRAS G12D inhibitor dubbed RG6620 in solid tumors. Roche’s partner Chugai Pharmaceutical is also testing a pan-KRAS inhibitor called AUBE00. Roche has made a “deliberate effort” to test a range of RAS drugs, Frings said. “If you have many rare mutations and you are scrambling to find sufficient patients, a pan-RAS inhibitor makes a lot of sense,” he explained.
Nonprofit organizes ‘silkies’ hike to support military members’ mental health
During the hike, participants wore military short-shorts known as “silkies” as part of the event’s tradition to foster connection.
Nonprofit organizes ‘silkies’ hike to support military members’ mental health
Veterans, active military service members and community supporters recently gathered for a hike organized by a nonprofit dedicated to suicide prevention.
MCHD: Several people treated at local emergency rooms for bat bites in Baldwin County
The Mobile County Health Department says the patients were bitten at different residences in Baldwin County.
Can social media bans protect young people’s mental health? Early research suggests that bans aren’t the answer
About 20 countries are looking to ban minors from social media. But bans have not always worked as planned. Here are some other ideas to make platforms safer for kids.
Cutting ‘red tape’ is nothing but a red herring
Blaming a moribund economy on too many rules is a hackneyed neoliberal trope – UK plc needs smarter regulation, not less regulation
At Issue: Oct. 25 focuses on political advertisements, Rep. John McGuire candidate profile
In less than two weeks, the votes will be in and you will know who will represent your hometown in Congress. But until then, the political advertisements will target you on every device and platform.
Takeaways from Colorado's disastrous 57-24 loss to Oklahoma State
Oklahoma State fell to Colorado after an abysmal second-half collapse. Here are five takeaways from the Buffaloes' fifth straight loss.
Health Experts Reveal The 1 Thing They Wish Their Older Patients Would Do
Here are a few small ways to do yourself some major favors, from pros like cardiologists and nutritionists.
Small gyms increase health and connection in rural communities
Within the Adirondacks, outdoor recreation keeps people active. But small gyms popping up encourage indoor activity.
Best AI Tools for Small Business Marketing (2026): CapCut Featured for Creating Professional Video and Visual Content by Expert Consumers
Expert Consumers has recognized CapCut in its 2026 coverage of the best AI tools for small business marketing, highlighting the platform's collection of AI-powered features for creating and editing video, images, audio, and other visual content. The recognition reflects growing interest in tools that support practical marketing activities, including campaign development, promotional content production, and adapting creative assets for different digital channels.
18 Once-Common Things That Quietly Vanished From Our Lives
"I texted one of those numbers on the TV to buy a ringtone back then. Good times. Then smartphones came around, and I've kept my phone on vibrate for over 13 years now."
This fifth-generation family business in rural Pa. is making 4,500 brooms for Salem
On Etsy, the Meckleys have made close to 20,000 sales.
The Political Upstarts That May Decide Israel’s Election
The upcoming Israeli election may be decided by two small parties that didn’t even exist a few months ago.
🎥 He's already on a yellow! Linesman sends player tumbling
It's the refereeing team's job to make sure a match is as fair as possible and the players stay on their feet. But that definitely doesn't always work out.During the clash between Monterrey and Guadal...
Country music’s richest singer has a stunning net worth of more than $1 billion
You might be surprised to learn who has the biggest bank account.
Outside View: Sensible steps on health care caused uproar. Now the numbers are in
By Washington Post Editorial Board
Country music star retiring at 51: ‘Now that I’m leaving it’s gonna completely suck’
The singer is calling it quits when his tour is finished.
Country music star retiring at 51: ‘Now that I’m leaving it’s gonna completely suck’
The singer is calling it quits when his tour is finished.
‘Once we lose these, they’re gone forever’: What will become of the dioramas at the Academy of Natural Sciences?
The museum’s closure could endanger the 32 dioramas. Moving them can cost millions.
Democrats Bob Brooks, Paige Cognetti lead GOP incumbents in pair of key Pa. swing seats
Republicans are on pace to lose the two U.S. House seats they flipped just two years ago, according to a new Inquirer/New York Times/Siena University poll.
An Iowa Republican’s Unusual Connection to the Kochs (and Kansas)
In his campaign for governor, Zach Lahn has pitched himself as a self-made businessman. His backstory is more complicated.
We Linked 150 of Ikea’s $10 Speakers to Make a Wall of Sound
WIRED attempts what even the Swedish brand hasn’t: making a sonic monolith using scores of the cheapest Bluetooth speakers on the market. Can you have too much of a small thing?
That Girl Boina: How employee theft is hurting small businesses in Africa
That Girl Boina's post about why she had closed her beauty parlour struck a nerve with other small business owners.
Helen Mirren receives Legend of Entertainment Award at SCAD Savannah Film Festival
Helen Mirren receives Legend of Entertainment Award at SCAD Savannah Film Festival
Adams County Health Department participates in Drug Take Back Day 2026
For Drug Take Back Day, people were encouraged to drop off expired or unwanted medicine and prescription at Adams County Health Department Saturday.
Lawrence Healthcare holds community health fair
Big wheels and free health screenings drew local families out to Walnut Ridge on Saturday morning for an annual community health fair and Touch-a-Truck. The event was hosted by Lawrence Healthcare, a hospital in town.
Health screening event held in honor of Colin Hill
A health screening was held Saturday at McCluer High School in honor of 14-year-old Colin Hill, who died from an undiagnosed heart condition.
Kansas City leaders, non-profits and businesses turn unity into investments
Neighborhood leaders, nonprofits and businesses packed into Kansas City, Kansas, on Saturday, focused on turning unity into real investments.
READERS' CHOICE | Impact Realty Group makes its mark with Best Small Business win
A locally owned and operated real estate brokerage has been named Best Small Business in the 2026 Texarkana Gazette Readers' Choice Awards.
14-year-old entrepreneur’s slim business reaches millions online
A 14-year-old entrepreneur’s slime business has reached millions online and gained 21,000 followers in 23 days.
Fall Family Health Fair brings resources to South Bend community
A South Bend health fair connects families with free resources, including a bloodmobile and mobile health unit, at Innovation Park.
No injuries reported in Grand Junction pet care business fire
No people or pets were hurt after a fire this afternoon at Puppy Love Grooming on North Avenue, according to the Grand Junction Fire Department.
Saturday Sports: North Country football, soccer and swimming over the weekend
Here’s a recap of your North Country sports this Saturday.
Small businesses struggling with inflation amid Trump tariffs ahead of midterms
Adams County Health Department participates in Drug Take Back Day 2026
Residents were encouraged to drop off expired or unwanted medicine and prescription at Adams County Health Department for Drug Take Back Day.
Voters in 2 Democratic strongholds could ban transgender girls from girls school sports
Colorado and Washington are reliably Democratic states where elected officials have rejected moves to ban transgender women and girls from female sports competitions. Now activists have gone around lawmakers to put proposed bans on both states’ ballots.
Rep. Lisa McClain: Rural Michiganians deserve first-class healthcare
No law can make Michigan smaller. But we can make healthcare more accessible in rural communities and use modern technologies to make those miles matter less.
This US House district was once a political battleground. Now it shows why Congress is dysfunctional.
Swing seats, meaning districts that a presidential candidate won by 5 percentage points or fewer in the previous election, are disappearing from the national map.
Jesse Welles sang about politics and insects — and covered Black Sabbath and Bob Dylan
The rapidly rising "Join ICE" protest singer played solo and with a band on North Broad Street, and covered Bob Dylan, Black Sabbath, and Creedence Clearwater Revival.
The Rockets have downgraded Marcus Smart (left forearm …
The Rockets have downgraded Marcus Smart (left forearm …
A woman owned small business opportunity through a popular Valley farmer’s market
Among the rows and rows of homemade items and other one-of-a-kind creations found at the Pinnacle Peak Farmers Market, woman owned business proprietor, Tara J. Harley offers something shoppers have a difficult time finding: handmade jewelry where every piece a unique creation. Harley, owner of Lady J’s Creations, designs unique handmade jewelry and brings her...
Lt. Gov. Juliana Stratton campaigns in Quincy, touts health care plan
Lt. Gov. Juliana Stratton spoke to the crowd about health care and the cost of living for Americans. She said her campaign funding will not come from larger corporations.
Netflix’s Leadership Shake Up…Explained
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, I had a simple article planned for this week. Called “Whoa, I Missed It!”, I’d take a gander at a few important-but-under-the-radar stories I didn’t cover while I wrote about all things “Skydance. (Formerly known as “the saga of Netflix trying to buy Warner Bros., but not Discovery, then Paramount-Skydance bought all of Warner Bros. Discovery”.) Alas, that article will have to wait. Netflix made news. Ironically, my “Whoa, I Missed It!” article would have mostly been about “content” strategy decisions, which is also what today’s article is about. But instead of the entire industry, this article will only cover Netflix’s decision to upend their film and TV content teams. Just that! So that’s the full topic of the day. I’m going to tackle the issue in the opposite direction of the way “stuff” flows: uphill. We’ll start at film, then move onto TV, and then onto the CEOs themselves, and the strategy questions that still remain. But we start with the numbers driving this. Let’s dive in. Subscribe Most Important Story of the Week - Netflix Upends Their Corporate Hierarchy I’ve got a lot of thoughts, but we’ll start with the most common response to yesterday’s article. Let’s Talk Stock Price More than one person, responding to what I published two days ago, pointed out that, well, actually, the thing driving Netflix’s actions is this: In short, stock price! Even if Netflix isn’t obsessed with their own share price—they probably are, but, for the record, my strategic advice to every CEO is to absolutely ignore stock prices, which will, ironically, probably help the stock price long-term—most everyone thinks they are. By the way, I prefer market capitalization to stock prices, because it’s a more apples-to-apples way to compare companies: But there’s an even better way to look at it, and it kinda casts some doubt on the entire push here: price-to-earnings. I have a long list of articles that I wish I had written, and chief among them is an article titled, “Am I Still a Netflix ‘Bear’?” meaning someone who thinks Netflix’s stock is overvalued. As of last summer, Netflix had solved their biggest problem—which for me (circa 2019) was the lack of free cash flow—but their stock was CRAZY overvalued. That’s this chart here: Why did Netflix’s stock price increase to a price-to-earnings ratio of 50 last summer? What financial metric changed so quickly? Nothing. Given that, historically, mature entertainment companies average 10 to 20, with 16 being the average, that increase made little sense. Netflix’s stock swoon these last eight or so months wasn’t irrational; the stock price rise last year was. So if you want a really hot Netflix take, here it is: Netflix’s stock price has been going down because the financial industry recovered its senses, not because of any strategic mistake. Yes, that would imply that cleaning house may have been a mistake. That’s why the charts yesterday are so important, because they show that Netflix did have a strategic problem (a lack of hits) and that’s what they moved to address. (One could also argue the industry drastically overrated Netflix’s growth prospects, but that’s a financial industry problem, not a Netflix strategy problem per se. Some growth estimates are just crazy. *cough* AI *cough*) Now, the last time Netflix’s stock price crashed—circa 2022—it gave them an opening. I’d argue Netflix insiders knew they needed to expand post-COVID-19 crisis, adding advertising, cracking down on password sharing, and dabbling in sports. But if they had done that when their stock price was high, it would give folks a reason to second guess their strategy. (Arguably, last year, when Netflix pursued the Warner Bros. merger, it gave the industry a chance to review their business.) Instead, after the 2022 fall, they had the opening to make strategic changes. We may see Netflix pivot again following this latest slide. For example, the “binge versus weekly” conversation is alive and well again. Same for expanding into theaters even more. And adding both linear channels and streaming bundles. And maybe more either social, user-generated, vertical, or creator content. But the first shift came with who is making the content calls. A Message from Our Sponsor Last winter Pulp Fiction was on Netflix. For those same 90 days, it was also free, with ads, on Pluto TV and the Roku Channel. That is not a glitch, and it is not rare. The title has run on 20 different US streaming services since 2019, across 80 separate windows, and for more than 600 of those days it sat on a paid subscription service and a free ad-supported one at the same time. Almost nobody can see this, because when a title leaves a service, the record that it was ever there tends to leave with it. Reelgood keeps that record, dated to the day rather than the month: 4MM+ movie, show and episode titles across 300+ services globally, with timestamped arrivals, departures and moves across SVOD, AVOD, TVOD and vMVPD. Licensing teams price against every prior window. Rights teams check what a licensee actually delivered, and when. Pick a title you think you know: data.reelgood.com/title-availability Film - Dan Lin Want to know why I don’t opine on individual film or TV executives, especially new hires? Dan Lin. As I always caution, it’s really, really, really tough to predict which executives will succeed in new roles and which won’t. The successful head of co-production/finance partner, Rideback, Lin was considered for the head of DC Studios job before taking the job as the head of Netflix. By all accounts at the time, this was a smart hire. (That’s my read of the news coverage anyways.) But now that Netflix has fired Dan Lin, we got a slew of news stories about how he was doing a terrible job. In sports media, Bryan Curtis, new Substack writer/podcaster from The Ringer, calls this the “now you tell us” story, when you only hear the bad news after a star athlete leaves a sports team. In this case, now they tell us that Dan Lin was bad with talent after he got kicked out the door. So was Dan Lin a flop? It’s actually tough to say. While film moves faster than TV, even two years isn’t really enough time to evaluate a person’s output. The new head hasn’t really taken control. As Emily Horgan noted, it takes much longer than two years to produce animated films, so yeah, it’s definitely too early to judge in that domain. As for live-action films, I just published an article by Brandon Katz called “Netflix’s Summer of Bummer”, but I’d point out Netflix had a bad summer two years ago too. Arguably, their best summer came from KPop Demon Hunters last year and Happy Gilmore 2, the latter of which I saw credited to Lin. Then, the stories came out that Dan Lin clashed with talent, both Ben Affleck and Greta Gerwig, classic “now they tell us” factoids to explain his firing. This may have been true, but also should have been expected given that he was given the mandate to bring budgets back in check, especially after Rebel Moon. So if he made folks upset, well, that’s what he was hired to do! But also, he was described as “well-liked” at his hiring! In that case, I’m a bit sympathetic to Lin, since he may have been undercut by senior leadership, as often happens. Basically, a CEO hires a subordinate to be their “bad cop” and keep budgets in check, but then when talent complains, the CEO ends up undercutting them. That’s how I think you end up with a Narnia movie as expensive as any of the other flops, along with a film executive the town no longer likes. As a result, I think that Netflix is now executing a classic “hire the opposite” move by hiring Peter Rice. This phrase comes from my experience following football and basketball coaching decisions, where teams generally hire the opposite of who they just had. If you have an offense-minded head coach, hire the defensive guy. Or in college football, if you have a strong recruiter, then you pivot to an “X’s and Os” type of guy. Or in pro basketball, if you have a very analytically minded coach, you hire the player-friendly guy. I see that here. After dropping Scott Stuber—arguably a talent-friendly executive with lax budget control—Netflix hired the business guy to keep costs in check. Now Netflix is pivoting back to Peter Rice and presumably a more talent-friendly regime. (Disney, by the way, has done this twice: hiring business guys to succeed talent-friendly Bob Iger. It didn’t work out last time.) When it comes to Peter Rice…we’ll see! Maybe he works out, but maybe he doesn’t. I’d actually say the biggest problem is that Netflix still hasn’t solved its “IP Problem”, in that they don’t own much IP, so they just have a lower hit rate. The new executive won’t solve that. (Though buying Lionsgate would help.) Share “Content” - Bela Bajaria I almost published yesterday’s article after this column, but ended up flipping the order, because it told the story so well. So if you want the data for why Netflix is looking at TV to fix their problems, it’s in that article, this graph in particular: I know I just wrote that it’s often hard to judge executives, but Bajaria ran TV for six years and film for three and a half more. That’s more than enough to judge hit rates, and Netflix needs more hits. That’s the story. Since 2023, Netflix hasn’t had as many hit shows as it used to, and many of its previous power house TV shows have ended their runs (Stranger Things most of all). Also, many shows from 2020 to 2022 probably pre-dated Bajaria’s tenure. (That said, one thing may have been outside of Bajaria’s control, which I explain below.) Let’s lump some content strategy thoughts about Netflix and TV into one place: We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why I partially blame Squid Game for Netflix’s latest troubles… What is “the football trap”... Why it might not be the TV shows or films’ fault at all… What change I don’t think Netflix will make... How Bela Bajaria evolved Netflix’s TV strategy in smart ways… Whose departure likely submarined Bajaria’s final few years… One sneaky explanation for Netflix’s content struggles... And a whole lot more... ...please subscribe! We can only keep doing this great work with your support.