Netflix is cool technology but how does it increase productivity in a Schumpeterian context? In that context productivity enhancing technological progress leads to economic growth. How is getting the [relatively few] remaining Americans who are not Netflix subscribers going to lead to productivity enhancement and subsequently economic growth? The same argument applies to Facebook.
Perhaps streaming video saves time and money related to driving to Blockbuster and picking up a movie. But do we do anything with the time and money savings? Do we just spend that saved time and money consuming more Netflix content?