17 of 18 people found the following review helpful
An Incredible Story,
This review is from: Netflixed: The Epic Battle for America's Eyeballs (Hardcover)
The story behind the rise of Netflix has always intrigued me, mainly because it never should have happened: Netflix was a scrappy start-up with some venture capital money, setting out to take over a market that was controlled by corporate titans with enormous brand recognition and tremendous financial resources.
But somehow Netflix managed to reinvent the way that people watch movies and turn a profit; just how improbable was this? So improbable that, for YEARS, Netflix was one of the most shorted stocks in America and America's most famous and probably best shortseller, Jim Chanos, had assembled a list of reasons--all good reasons, by the way--why Netflix was destined to fail.
But it didn't. Netflixed is the mostly never before told story of Netflix's unflappable belief in its business model and Blockbuster's highly leveraged ineptitude that allowed Netflix to execute and topple a titan. It's an incredible story, succinctly well-told by Gina Keating.
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Initial post: Oct 19, 2012 11:54:49 AM PDT
Hasn't failed - *yet*. The still have a mountain of debt not listed on the balance sheet, and that day of reckoning is coming.
In reply to an earlier post on Oct 31, 2012 3:46:13 PM PDT
Douglas S. Gulick says:
Good point, you should have said that it is STILL one of the most shorted stocks in America (30% of float right now, I think).
Despite that, had you bought shares in 2002 at their IPO, you'd have 9x returns today (38x if you sold at the peak in the summer of 2011).
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