You can quantify in normal domains e.g. probability of seeing a human over 2.05m tall. You CAN'T quantify tail risk in unbounded (for practical purposes) domains, period. This is just ridiculous: "For this example, there’s about a 2% chance losses would exceed $60 million in a year." If you see you can lose everything, you are not quantifying, you are simply not going that way. If you don't know if you can protect yourself from losing everything, you are not going that way. If you can afford losing some limited amount you just write down the loss from the very start. That is that simple.

Netflix is just going straight to hell with such prediction approaches. And, mind that, this is not a prediction, this is a fragility statement.