They've managed to drive the company's reputation down the tubes in a very short time indeed.
Although I figure Bush Administration officials would be heading up the CD of the Month Clubs.
Hastings also apologized to customers for Netflix’s lack of clear communication with its customers regarding the split. “It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes,” Hasting writes. “I messed up.”
"To compensate myself for this massive trauma, I award myself a $5 million bonus," he could have said.
Their business model works when most the regular subscribers rent a single movie because of mail and replacement costs. With the prolonged Depression, people are cutting out expenditutres, and either people are cutting NetFlix or they are using NetFlix to its fullest potential.
Combined with competition from Red Box, Netflix had some real problems.
Rising Hegemon
5 comments:
Acting prime dumbasses, all right.
Hastings also apologized to customers for Netflix’s lack of clear communication with its customers regarding the split. “It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes,” Hasting writes. “I messed up.”
"To compensate myself for this massive trauma, I award myself a $5 million bonus," he could have said.
Their business model works when most the regular subscribers rent a single movie because of mail and replacement costs. With the prolonged Depression, people are cutting out expenditutres, and either people are cutting NetFlix or they are using NetFlix to its fullest potential.
Combined with competition from Red Box, Netflix had some real problems.
Tweet seen at Jorn's place (http://www.google.com/reader/shared/14569541748422553908):
dwineman: Somebody please leak a photo of the conference-room whiteboard with “Qwikster” circled and 49 even more awesomely bad names crossed out.
what? turns back to cable remote.
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