The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
In a statement Monday, Barr named Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
Lobbying disclosure reports show that Maria Ressa, who founded news website Rappler Inc. in the Philippines, has tapped two partners out of Covington & Burling to help her...Politicsread more
O'Neill announced in a media gathering at police headquarters Monday that Pantaleo "can no longer effectively serve as a New York City police officer."Politicsread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions to its benchmark rate.Marketsread more
Netflix had a "good enough quarter," but the way it's running its business leaves something to be desired, widely followed tech investor Gene Munster told CNBC on Tuesday.
"It is not a good business model," he said on "Fast Money " shortly after the streaming giant reported first-quarter earnings.
He pointed to the fact that Netflix expects its 2019 free cash flow deficit to be negative $3.5 billion.
"At $10 a month they would have to add 30 million [subscribers]," said Munster, founder of the venture capital firm Loup Ventures.
"At the current run rate, that probably puts it toward the end of 2020 before they kind of alleviate that cash burn," he said. "Now they can do some things in terms of making some of the content costs a little bit more efficient. But I think that in general more competition is not good for that."
Netflix reported quarterly revenue on Tuesday that beat estimates but included light guidance for the following quarter.
Netflix CEO Reed Hastings said he isn't worried about the increasing competition. Last week, Disney announced its streaming service, Disney+, will be available starting Nov. 12 for $6.99 per month or $69 per year. Apple also plans a streaming service, Apple TV+, which is expected to launch this fall.
In its quarterly shareholder letter accompanying its first-quarter earnings report, Netflix wrote, "We don't anticipate that these new entrants will materially affect our growth because the transition from linear to on demand entertainment is so massive and because of the differing nature of our content offerings."
Munster said he isn't necessarily concerned about the competition either; he thinks people will own multiple services.
"Netflix will do well. I think they're going to have great market share in the U.S. and globally. I don't necessarily believe that that's a good stock," he explained.
That's because the company is overvalued, he said, and should be much smaller than its current $156.9 billion market cap.
"The more buy-side people that subscribe to either Disney or Apple ... the more some of that shine gets taken off of the multiple," Munster said.
However, right now the stock seems to want to go higher, he added. To him, that's some indication that the international growth story is "generally intact."
The bottom line: "We're probably talking too much about Netflix," Munster said.
"This stock is going to probably chop around here. The multiple could go up or down a little bit. More completion [is] coming. I think there's just a lot better places to play in tech."
Netflix did not immediately respond to a request for comment.
— CNBC's Lauren Feiner and Alex Sherman contributed to this report.