To be fair they have over 50 million customers paying at least $8 a month. $20B sounds like a lot of money until you realize they have $400M coming in the door every month. They also have $6B in short term assets as of 12/31/16 o they really upside down $14B. This means if they didn't raise rates and didn't add any new subscribers and stopped paying all its employees they would be debt free in less than 3 years.

Frankly I think they could borrow another $10B and be in good shape.