Quote of the Day – Reed Hastings

October 10, 2011

“It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs.” – Reed Hastings, CEO of Netflix.

Hahahaha. Looks like he got the point after he lost hundreds of millions of dollars (around $200 billion according to my calculations) when Netflix’s stock fell from nearly $300 per share to $112 per share.

The customer is always right, Reed. Come on, you know that.

2 responses to Quote of the Day – Reed Hastings

  1. A 2/3 drop in stock price will make most CEOs cry uncle.

  2. First HP, now Netflix undoing their bone-headed mistakes of 2011. All we need now is an announcement from BofA that they are scrapping their idea for a $5/month fee for debit cards and we will have a trifecta!