“TV has gone through major transformations in the past … but this leap dwarfs all others. Netflix doesn’t want to be a streaming, supersized clone of HBO or FX or NBC. It’s trying to change the way we watch television. Whether it can do that while turning a profit is another matter, given the more than $6 billion in debt it’s amassed during its expansion. But Wall Street seems optimistic: In recent weeks, its overall market capitalization has at times grown past $150 billion, surpassing Disney to become the most-valued media company in the world.” Hollywood is being powered by Netflix’s massive and growing debt. It’s a good time to be a content creator. It’s an overwhelming time to be a content consumer. And it’s the perfect time to learn how it all works Inside the Binge Factory.

+ The Verge: Net neutrality is dead — what now?