the sales forecast coming up short we are seeing a decline in investor sentiment what jumped out at you bob the number that jumps out at me is the new subscribers that was three times what people were expect obviously if you think about this from a long term that is a huge benefit for them if they are adding additional people at some point that translate into revenue it will take a couple of quarters for revenues from larger supply of customers to show up this has proven philosophically and practically and economically that the password crackdown works they can now apply eight in other places us was the biggest market there are other market they can do this that is another longterm advantage for them they want to eyes on sets eyes on screens that is a step in that direction that will help this residuals question will they have to pay more given the strikes in the us for the actors they started to talk about how much people are watching these shows which guests to the heart of the residuals question there could be some of those factors to consider it is hard to say how much of a difference it will make in the long term i can  t help but think it is a number of eyes on screens and the global production system and global content they have a lot of things in the can already they can continue or as other streaming services will take a serious it we know that some of it will consolidate netflix is sitting in a good spot haidi it is interesting we have not seen much of cancellations after the password crackdown in terms of the content pipeline netflix is a better place than the competitors you are not worried at all we will be seeing more content out of this part of the world bob exactly we have already seen success of squid game  s and other asian based content you will see a lot of other things along those lines not only the fact things are being produced in other countries have seen there are more than willingness of foreign language content in the us on netflix they are positioned well if this goes on for a long time that is the strikes in the us for sagaftra and wga it will hit everyone at least in the near term they seem to be wellpositioned from the global perspective shery how do you view where the password sharing crackdown goes from here bob they are going to continue it he also announced their lowest  they got rid of their lowest ad free offer that will play into it you will see a larger number of subscribers they will all have to pay more and you will see the advertising revenues grow you put all that together that is a good story i think you will see them continue relatively aggressively it has clearly worked there was the question of how many people they will lose they gained a huge amount they feel confident they can take that amount apply it everywhere around the world which will give them more sets of eyes and that will for them shery will they survive another price hike they have talked about it in a future bob think about it this way if they get rid of their lowest ad free version everyone in that group will have to take a price hike or move to an advertising thing what they did today they will increase the average price across the board even if a lot of people are content with a particular price all of the people at that lower tier a significant percentage they will end up paying more or you will see the move to an advertising supported side which brings more revenue for netflix shery we are in the thick of earnings season on ibm does that give you relief that the slowdown might not be as bad bob it does you  ve got the fact that ibm broad higher revenues on software and other ai initiative those are the growth categories that is where they sell the biggest growth percentage they saw a modest  a big decline in their mainframes that is not surprising that is a seasonal business they saw the growth in the software business in consulting what that suggests to me is we are seeing a lot of businesses saying have to work with generative ai ibm is a trusted partner we can continue to build on these objects leveraged the tools they have it does speak well to the fact we have enterprises continue the fact they maintain  singledigit growth and revenue numbers is pretty good