10 Business Debacles of the 21st Century

10. Blockbuster Passed Up The Opportunity to Buy Netflix in 2000

We all know that Blockbuster Video eventually completely tanked in the US, and there is only one store left in existance. But they could still be around today, if only they had purchased Netflix. In the year 2000, Reed Hastings, the founder of Netflix, met with the CEO of Blockbuster, John Antioco, and pitched the idea that they could be partners in bringing digital video rentals to customers. Antioco turned Hastings down because he believed that customers would be loyal to their brand.

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