This Week in Startups E1128: Emergency Pod! A Quibi postmortem – Diving into the numbers, what went wrong, lessons learned & more!
Oct 23, 2020
The podcast delves into the rapid downfall of Quibi, unraveling the reasons behind its failure amid a pandemic. It critiques Quibi's high-budget short content model and its misalignment with audience preferences. Lessons on product market fit and strategic decision-making are highlighted as crucial takeaways. The discussion emphasizes the importance of authenticity and engagement with emerging creators for future platforms. Overall, it serves as a cautionary tale for startups navigating the competitive streaming landscape.
AI Snips
Chapters
Transcript
Episode notes
Quibi's Demise
- Quibi, a short-form content platform, failed despite raising $1.7 billion and spending $47 million monthly.
- The platform, founded in 2018 and launched during the pandemic, shut down within 30 months.
Content Format Mismatch
- Quibi's short-form content (5-10 minutes) did not fit established media formats like podcasts or TV shows.
- The platform tried creating a new format, but it failed to resonate with audiences.
David Sacks on Product-Market Fit
- David Sacks tweeted that Quibi's failure highlights the importance of product-market fit.
- Despite raising substantial capital, Quibi couldn't force consumer adoption.