I never, ever thought I’d write this.
Blockbuster – a video chain that spawned a few billionaires, a corporation that was once listed in the same breath with the likes of Microsoft as being “maybe too big”…
…is down to one store.
At its prime in the early 2000s, Blockbuster boasted more than 9,000 stores across the nation.
Via CNN
Popular among movie watchers and video game renters, people flocked to Blockbuster to find flicks or games to unwind with. But the company’s business model soon became stale when Netflix and Redbox started providing on-demand digital services.
In 2010, Blockbuster declared bankruptcy and was bought by Dish Network. Soon after, Blockbuster began closing its doors, though some franchise locations tried to stick it out.
By April 2017, only 10 Blockbuster stores remained in the US.
Against all odds, the location in the small town of Bend has persevered.
“We’re proud to still be open,” Harding said.
Free markets have a way of dealing with companies that are “too big”. And I suspect the Blockbuster in Bend will do a booming business being…it.
Books will be written (IF they havent been already) about the rise and fall of Blockbuster. Man I remember going there Fridays after school in elementary and middle school to rent a video game and movie for that night. How times change. And Netflix was originally started in spite because the founder was sick of Blockbusters late fees. Karma is a bitch.
Zuckerberg has nightmares when he thinks about Blockbuster. He knows how quickly FB could become the next MySpace or Friendster. That’s why he is trying to make Facebook an incubator for whatever the Next Tech is.
I have a happy dream that Zuckerberg goes down in flames. He seems to be the type of person who embodies all the worst aspects of the capitalist tycoon: he got where he is because of luck and sharp practice. If he had screwed up his meeting with venture capitalists he’d now be working a dentistry practice like his dad.
I wouldn’t say being too big was the thing. It did get buggy whip obsoleted astonishingly fast…. and they passed up an opportunity to buy Netflix for $50M in 2000.
I dunno though, maybe if Blockbuster buys Netflix in 2000, Reed Hastings is off running a B&B somewhere thereafter and is not the guy that starts ‘streaming’ in 2007.
https://en.wikipedia.org/wiki/Camping_World_Bowl
1990-93, there was even the Blockbuster Bowl, those games had some well-ranked teams as well.
It’s largely about video movies becoming obsolete to me, they made a killing at the time but technology changes sometimes.
Zuckerberg has nightmares when he thinks about Blockbuster. He knows how quickly FB could become the next MySpace or Friendster
MP, as someone who used MySpace it wont become either, it is too engrained in our society and business use it. It is light years beyond what either platform was able to do. Its stock will probably be trading in 5 years where Amazon is now. What Zuckerberg needs to worry about is the censorship going on in the platform, there is a potential civil case there that WILL cost him billions.
I wouldn’t say being too big was the thing. It did get buggy whip obsoleted astonishingly fast…. and they passed up an opportunity to buy Netflix for $50M in 2000.
While true John, Netflix was the desperate one there, they were hemrogging money and were looking for a life preserver. I believe the Netflix CEO at the time was literally laughed out of the Blockbuster boardroom then.
I wouldn’t say being too big was the thing. It did get buggy whip obsoleted astonishingly fast…. and they passed up an opportunity to buy Netflix for $50M in 2000.
https://www.cnet.com/news/blockbuster-laughed-at-netflix-partnership-offer/
^ I don’t doubt it / I agree. Superficially its one of these ironic stories but there’s no reason to say BB buying Netflix for $50m in 2000 would have been prescient
Mrs. Swiftee kept Blockbuster in the black for years with late fees.