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Thread: Blockbuster appears poised for mid-September bankruptcy filing

  1. #21
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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Quote Originally Posted by buck View Post
    This doesn't surprise me. I've actually heard (from my company's CEO) that BB had the idea for video kiosks (such as RedBox) and mail order movies (such as Netflix) prior to either of those companies. But they were afraid of competing against their franchisees, so they decided to not go forward with either idea. Fear of change / adapting was what did them in.
    Thank you! As someone who works in that industry: if you're not going to evolve with the industry, you're going to die.

    Too ****ing bad. Evolve or die.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Quote Originally Posted by buck View Post
    This doesn't surprise me. I've actually heard (from my company's CEO) that BB had the idea for video kiosks (such as RedBox) and mail order movies (such as Netflix) prior to either of those companies. But they were afraid of competing against their franchisees, so they decided to not go forward with either idea. Fear of change / adapting was what did them in.
    It pisses me off. I had a blockbuster rewards card for about a month, I had just obtained enough points to get a free rental. I drive to the place walk to the door and the place was completely ****ing empty without a trace of previous existence.
    I have come to believe that the whole world is an enigma, a harmless enigma that is made terrible by our own mad attempt to interpret it as though it had an underlying truth.

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    This is a good example of "creative destruction" as Joseph Schumpeter called it. Netflix simply has a better business model than Blockbuster, and Blockbuster was unable to adapt to the new environment quickly enough to survive. Therefore it gets eliminated, and the better company thrives.
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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    Quote Originally Posted by FilmFestGuy View Post
    Thank you! As someone who works in that industry: if you're not going to evolve with the industry, you're going to die.

    Too ****ing bad. Evolve or die.
    Or they could ask the government for some bailout money. After all, the banksters ran their companies into the ground, and got to collect welfare for it. IMHO, AIG should have gone the way of Blockbuster.
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Blockbuster appears poised for mid-September bankruptcy filing

    They will not be going away I am sure. The way the bankruptcy laws are, they will "reorganize" which essentially means they will stiff their creditors and continue operating their antiquated business until they run up enough debt to go bankrupt again.
    From the ashes.

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