Netflix's elevation of Ted Sarandos to co-CEO pushes company closer to its true home: Hollywood

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By making Ted Sarandos his co-CEO, Reed Hastings is further emphasizing that Netflix is more of an entertainment giant than a technology company.

, which acquired HBO in its Time Warner deal two years ago, is now trying to turn HBO into something that resembles Netflix, broadening out HBO to HBO Max, a service that includes family shows and mainstream sitcoms.Where Netflix wants to avoid the media comparisons is on Wall Street.much more like a high-growth tech company than a content behemoth. With a market cap of over $230 billion, as of Thursday's close, it's now among the 20 most valuable U.S. companies.

Sarandos doesn't talk much about the stock price, but he can spend hours discussing Netflix's ability to invest so much more than anyone else on a film while still making it profitable. At an investor event with UBS in December, Sarandos described his work with Scorsese and "The Irishman," a three-and-a-half hour mobster film that was viewed by more than 26 million people in its first week.

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Hm. Maybe now netflix will give us a third and final season of Mindhunter since a content guy is co-CEO. (I wish!) The way they drop a show without any conclusion is a numbers guy move that doesn't take into account the ill will it creates towards the company.

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