One Tweet Shows Just How Badly Blockbuster Crashed
ESPN’s Darren Rovell spent Monday morning reminding everybody just how far and fast Blockbuster came crashing down.
Blockbusters used to be all over the place. I remember as a kid going to the one near my grandparents to get movies when I was a very young child. Now, there is only one in the entire country.
Rovell tweeted, “In 2000, Blockbuster had a chance to buy Netflix for $50 million. Today, Blockbuster is down to one store. Netflix is worth $172 BILLION.”
In 2000, Blockbuster had a chance to buy Netflix for $50 million. Today, Blockbuster is down to one store. Netflix is worth $172 BILLION. pic.twitter.com/22SO52o69b
— Darren Rovell (@darrenrovell) July 16, 2018
This what I believe people call making a very poor business decision. Passing on Netflix at the cheap price of $50 million in 2000 to turn around and pretty much go completely out of business is not a great look. How was Netflix only worth $50 million back in 2000? Would buying Netflix back then have been the greatest investment of all time? I think it very well might have been. (RELATED: THEY ACTUALLY DID IT – ‘IT’S ALWAYS SUNNY IN PHILADELPHIA’ HAS LEFT NETFLIX)
I guess that’s just life. Sometimes you win, and sometimes you pass up on buying a company for $50 million that becomes worth nearly $200 billion in less than two decades. When you fall from the top of the mountain, you fall hard and fast. Blockbuster had a nice run, but we’re all about the streaming game now.
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