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Season 3, Episode 9: Netflix (Part 2)
Acquired
Learning from Mistakes and Seizing Opportunities
Making ill-advised decisions like announcing Quickster and then cancelling it within a month led to significant negative consequences for Netflix in 2011. The fallout included the departure of a key executive, layoffs, and a damaged company image. However, this misstep prompted Netflix to reassess its strategy and make better decisions in the long run. Amazon capitalized on Netflix's misstep by launching Amazon Instant Video, entering the streaming market successfully. Additionally, Amazon's deal with Epix, similar to Netflix's, further intensified the competition in the streaming industry. This situation highlights the importance of learning from mistakes, making confident decisions, and seizing opportunities that arise from setbacks.
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