this post was submitted on 04 Aug 2023
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Asklemmy
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Or Blockbuster turning down a $50 million offer to buy out Netflix.
That one really wasn't as obvious at the time. Netflix was in huge debt and hadn't really built their streaming platform yet. In fact streaming was barely possible. Blockbuster should have been able to out-compete Netflix at both dvd by mail and streaming but they screwed it up. Netflix won, but may now end up getting killed by the big studios.
It never is, that's how the investment market works. Blockbuster thought it was still ludicrously high for an ailing niche competitor. That's arguable, but I don't think anyone could guarantee Netflix was actually going to achieve their (at the time very sci-fi) vision.