(https://www.marketwatch.com/story/netflix-investors-are-getting-squeamish-as-amazon-makes-inroads-in-the-battle-for-streaming-dominance-c1c04278?mod=mw_rss_topstories) as Amazon eats into their moat, but the real story isn't competitive pressure — it's that streaming economics are collapsing. The streaming wars have turned into a race to accumulate subscribers on razor-thin margins, and Netflix's operating cash flow is the tell.

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