In 2000, Reed Hastings, the founder of a fledgling company called Netflix, flew to Dallas to propose a partnership to Blockbuster CEO John Antioco and his team. The idea was that Netflix would run Blockbuster’s brand online and Antioco’s firm would promote Netflix in its stores. Hastings got laughed out of the room.
Blockbuster went bankrupt in 2010 and Netflix is now a $28 billion dollar company, about ten times what Blockbuster was worth. So what happened that led Blockbuster's demise? We explore that and more today on the show.
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This episode is brought to you by:
Augusto Digital. Augusto Digital is a product engineering team that creates web, mobile, and cloud based digital products. Rocketship listeners get a free wireframe workshop by going to augusto.digital/rocketship.
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