Netflix reveals plans to go even bigger, Silicon Valley says it's time to disrupt Wall Street, and more trending news

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Netflix will spend a whopping $17 billion on content over the next few years — between $7 and $8 billion just next year. 25% of the company’s content budget goes to original programming, including the upcoming next season of “Stranger Things,” a new film with Will Smith called “Bright,” and future shows by major creators like Shonda Rhimes and Ryan Murphy. Netflix already spends more on content than rivals like HBO or CBS, but the gamble appears to be paying off: According to its latest earnings call, the entertainment firm added 5.3 million subscribers last quarter and saw a 30% year-over-year revenue increase. Its stock broke a new record, hitting $200 for the first time. Netflix is, however, facing increased competition in the streaming space, with players like Disney, Apple (which could spend $1 billion next year), and now Samsung gearing up to enter in a big way. ? Share your thoughts: #NetflixContentBudget

Silicon Valley leaders think they’ve come up with a way to curb capitalism’s short-term thinking: A “Long Term Stock Exchange” (LTSE) that rewards shareholders with more voting power the longer they own shares. “It effectively creates a brand-new approach to corporate governance,” explains The Wall Street Journal — in addition to the “tenure voting” system, companies would need to adopt policies around board oversight, executive pay, and a range of other topics. Critics of the system say it’s another way for founders and tech executives to dodge accountability to shareholders; advocates say it creates long-term incentives for innovation, while also encouraging more firms to go public. The number of public companies has dropped 50% since the 1990s. LTSE’s CEO and founder is “The Lean Startup” author Eric Ries, and the initiative is backed by tech leaders like AOL co-founder Steve Case and LinkedIn co-founder Reid Hoffman. ? Share your thoughts: #LTSE

Nordstrom won’t go private (for now). The Nordstrom family said it has suspended its exploration of taking the company private until after the holiday season. Reports had previously emerged that discussions to take Nordstrom private were in danger of falling apart, amid concerns that the Seattle-based retailer would not be able to secure the necessary financing. “It’s easy to see the temptation” for going private, says Fortune: While its flagship store sales are flagging, the company itself is growing, thanks to its online business, discount Rack stores, and new locations in Canada and (shortly) New York City. ? Share your thoughts: #PrivateNordstrom

The Weinstein Company secured a “financial lifeline” from Colony Capital, an investor “with experience in distressed Hollywood assets,” according to The New York Times. The studio is reeling from sexual misconduct claims against ousted co-founder Harvey Weinstein, with major partners like Amazon and Showtime dropping projects in the wake of the scandal. Weinstein Company board member Tarak Ben Ammar said Colony had entered into negotiations to acquire all or some of the company’s film and television holdings. It could take up to three weeks to seal the deal. ? Share your thoughts: #WeinsteinColony

Japan’s Kobe Steel may have falsified data for more than a decade. The company knowingly sold metal products that had failed quality control tests to as many as 500 corporate customers, including GM, Ford, Toyota, and Boeing. So far, no affected customers have issued recalls or announced any safety concerns related to Kobe's revelation. The future of the century-old Japanese industrial giant remains uncertain; its stock has plummeted 41% and the company could face some $1.8 billion in losses. ? Share your thoughts: #KobeSteelScandal?

Idea of the Day: Although it may seem counterintuitive, great leadership is about teamwork — focusing on the whole rather than the part. Jeff Immelt identifies that as a connecting thread between two soon-to-retire vice chairs at GE, Beth Comstock and John Rice. While the two lead very differently, “both are low ego, high impact leaders; they care deeply about people and customers.”

“Good companies are about collective strength. Their leaders do their job while taking care of each other.”

What's your take? Join the conversations on today's stories: #NetflixContentBudget | #LTSE | #PrivateNordstrom | #WeinsteinColony | #KobeSteelScandal

— Katie Carroll / Share this using #DailyRundown