And then, on the other hand, his CFO explains the $100 million raise it did in April as “building cash reserves to help us compete in a world with Internet delivery of movies against substantially larger companies with much stronger balance sheets.” The two don’t reconcile, Reed. Come clean. Couple of smart-alecky-type one liners from me : — Don’t assume the world will wait around for Netflix to enter the movie downloads market. — Don’t assume the online downloads market will only be movies…there are countless substitutes, now and emerging. Related: Netflix vs Movielink: Hastingspeak Netflix To Invest$5-10 Million in Tech; Yo-Yoing Again