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(PAUL SAKUMA/AP)

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Netflix business model not so virtuous after all

It has been easy to make fun ofNetflix in recent years. Skeptics have had a jolly old time as the streaming-video company’s stock plummeted alongside its profits. The wags were conspicuously silent on Thursday, however, as the company’s fourth-quarter earnings report sent the shares up almost 40 per cent; they are up 165 per cent since October.