And everyone would live happily ever after.Īnd it was going great. We would jointly develop a blended model. Which is why, just a few weeks later, you’d have found me, Reed, and our CFO Barry McCarthy sitting at a giant conference table on the 37th floor of the Blockbuster headquarters in Dallas, getting ready to pitch Blockbuster. The obvious strategic alternative for us was Blockbuster. It’s called “pursue strategic alternatives”-code for “sell, and sell fast.” Luckily, there is a Silicon Valley play book for this. We’d spent more than $50 million getting to this point, and now it looked like our success was going to bankrupt us. And with customers flooding in, cash was flying out. com at the end of our name had been a badge of honor now it was three scarlet letters. Over a few short months, the internet bubble finally popped. But it was the height of the internet boom. Running a subscription business takes a lot of cash, since you pay acquisition costs up front while the revenue comes in over time. Customers were pouring in and the company was growing like crazy. Our no-due-dates, no-late-fees subscription model was a hit. We’d been struggling since 1998 to find a way to make it work, and by the summer of 2000, we were finally seeing light at the end of the tunnel.
Reed Hastings and I, on the other hand, were just two Silicon Valley geeks with a DVD-rental-by-mail idea.
Nick jr get a move on movie#
In 2000, Blockbuster was the movie rental king with 9,000 stores and 60,000 employees.
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