Why Netflix could be facing decelerating growth.
The narrative undeniably going into this quarter was Netflix was going to raise their fullear guidance on operating income and with a $620 million charge that didn't happen and so the fast money is going to get out. Netflix's view was that if there is a Brazilian subsidiary that is buying services from a US subsidi subsidiary but there's no transfer of technical assets that the the tax doesn't apply. And what the courts ruled in Brazil is it does that $620 million charge is the accumulation of the this 10% ...