Waskita Amikom A growing startup For years, Wall Street has treated Netflix as a high-profile startup, not as a media behemoth along the lines of The Walt Disney Co. or Paramount Global. Investors cheered when Hastings and Sarandos got into debt to outpace their competitors by spending more money than they made. Now they see that the mature company faces more competition from cheaper alternatives. They start to wonder if broadcasting is a good business. Netflix had to lay off 500 employees and rent unnecessary space. He also promised to cut program costs (although he has no intention of cutting them) and halt dozens of film and television projects.