A $40 Mistake
2 days ago
- #Netflix
- #Blockbuster
- #Business Innovation
- Apollo 13 mission faced a critical failure in 1970, leading to a historic crisis management success.
- Reed Hastings forgot to return a Blockbuster rental, incurring a $40 late fee, sparking the idea for Netflix.
- Netflix was founded in 1998, focusing on DVD mail rentals with no late fees, disrupting Blockbuster's model.
- Blockbuster dismissed Netflix's potential, leading to its eventual bankruptcy in 2010 after failed adaptations.
- Netflix's growth contrasts with Blockbuster's decline, highlighting the impact of innovation and customer preferences.
- Recent Netflix attempts to acquire Warner Bros and past decisions like skipping replay.com domain show strategic evolution.