So we opened up the beach house this weekend, the one my daughter regards as her second home, and what did we discover? She bought a smart TV. But get this, she didn't even bother to attach the cable. Ouch!
I don't know how to live without cable, but she -- a 23-year-old -- doesn't even think about hooking it up (even though I'm paying for cable service).
I wouldn't have noticed if my wife hadn't said: "Don't you wish we could watch Jessica Jones -- the second season -- on your big-screen TV rather than on your computer?" (Even though I have a beautiful screen.)
Jessica Jones, like so many other Netflix productions, is quirky and not for everyone, which is why we like it. So I turn the TV on and next thing you know, it's one click right to Netflix (NFLX) . We binged on Jessica Jones and went to sleep on the floor watching the show.
Now, my wife Lisa is not the least bit interested in Mad Money or TheStreet or anything I do with stocks. So I don't know why, but on the way back from the shore, I decided to bore her and talk about the FANGs and what they mean.
I said that everyone keeps pronouncing the FANGs dead, but that I'll bet that Netflix blows away the numbers on Monday. She said: "Of course, because it's the original content that makes it great. And it doesn't matter what country it's made in, people love it."
This is something I've heard from my daughter over and over again. She's not just a cord-cutter, but a "cord-never" who thinks nothing about watching a program in any language with subtitles.
Personally, I despised subtitles when I was growing up and simply chose not to watch anything with them. But my daughter the cord-never? Netflix taught her to like subtitles.
Obviously, based on Monday night's Netflix earnings number and commentary, she's not alone. Netflix has original content from 17 countries and the content seems interchangeable.
I know that they've thrown everything but the kitchen sink at Amazon, from President Trump's constant nagging refrain about the post office to stories everywhere about Tuesday's U.S. Supreme Court hearing on online-sales taxes. Or the plea from Oracle (ORCL) to Trump not to let Amazon have a Department of Defense cloud-computing contract even though no one outside of Oracle management would really contest that its cloud service could take on Amazon Web Services. And yet, AMZN's stock price keeps going higher.
How about Alphabet? Easy -- the stock likes to go up until we see the quarterly results, and then it gets hammered as it disappoints. It's clockwork.
And Facebook? As I said to CNBC's David Faber on Monday: "What was that Cambridge Analytica thing about any way?"
Now, I stick by my view that Facebook needs someone independent to come in and assess the situation, and that they can't afford to have another Cambridge Analytica. In fact, the lack of an external investigator is why we recently sold some FB stock in my Action Alerts PLUS club's charitable trust.
Nevertheless, I've canvassed packaged-goods companies and found more execs who backed away from Google because of YouTube's problems with ad adjacencies than I've found those who've backed away from Facebook because of the sloppy way it handled Cambridge Analytica.
I'm sure Facebook's bottom line will be hurt by what happened. We said that ourselves when we did repeated write-ups of the stock for AAP, including those covering the sale of some FB shares. But what will happen without a new incident is that Facebook management will have to "own" the decline in the company's growth rate. And then we'll have to see how many investors can handle a growth stock that can only be described as "value" given even a toned-down growth rate.
But this is a Netflix show right now, and while I'm sure there'll be profit-takers following Monday night's earnings release, I know that those who guess management is going to spend too much on original content have to wonder: "Hmm, how could I have been that wrong?"
Yes, the bears will point to Netflix's absurd $3 billion to $4 billion cash burn. But the bulls? They'll point to my daughter ... and the millions of other consumers like her who we didn't even know existed until Netflix came along.
(This column has been updated with new information.)