The $1.75 Billion App That Lasted Six Months

Quibi raised $1.75 billion. Six months after it launched, it shut down, and only about 500,000 people were reported to be paying. The people behind it were not amateurs: Jeffrey Katzenberg ran Disney's film studio and co-founded DreamWorks, and Meg Whitman ran eBay and Hewlett-Packard. So what went wrong? Most people blame the pandemic. I think that's only a sliver of the truth. This is the autopsy of Quibi: the "quick bites" pitch, $100,000 a minute for programming, a phone-only service with no TV app, the Turnstyle feature and the Eko lawsuit, the screenshot ban, a launch in April 2020 that peaked on day one, the shutdown letter, the $350 million returned to investors, and the Roku sale. Chapters: 0:00 One Point Seven Five Billion 1:23 Quick Bites 3:18 A Streaming Service With No TV 5:23 April Sixth 6:53 Apples to Submarines 8:51 What's Left Watch next: The Decline of Sears… What Happened?    • Sears Had Amazon's Idea First. Then It Thr...   Sources: TechCrunch, "The short, strange life of Quibi" (23 Oct 2020) Axios, "Quibi says it's shutting down" (21 Oct 2020); PBS NewsHour / AP, "Short-video app Quibi shutting down just months after launch" (Oct 2020) The Ringer, Quibi shutdown piece (22 Oct 2020); The Hollywood Reporter, "Quibi to shut down six months after launch" (Oct 2020) Variety, Quibi and Eko legal settlement (2021); Stream TV Insider, Quibi patent lawsuit (2020) Wikipedia: Quibi, Jeffrey Katzenberg, Meg Whitman, Myspace Images: Photos via Wikimedia Commons: Official White House Photo by Pete Souza, United States Department of State, WSJ (Public domain); Collision Conf, Erik Drost, James Jeffrey from San Jose, CA, Max Morse, Susan Jane Golding from New York City, United States, World Travel & Tourism Council, egg (Hong, Yun Seon) from Seoul, Korea (CC BY 2.0); David Shankbone (CC BY 3.0); Andrew Gray, Indrid__Cold from Halifax, Canada, Solen Feyissa, World Economic Forum, dtstuff9 (CC BY-SA 2.0); Coolcaesar, Thomas LOMBARD, designed by HASSELL (architects)[1], Thomas Wolf, www.foto-tw.de (CC BY-SA 3.0); Coolcaesar, Dead.rabbit, Eric Polk, Fox, HanSangYoon, KKPCW, Potro, Ralph Emmerich, SCBY, TaurusEmerald (CC BY-SA 4.0); Joe Gratz (CC0); 2type / Pexels, Anastasia Shuraeva / Pexels, Artur Apsitis / Pexels, August de Richelieu / Pexels, Daniel Narinian / Pexels, Elias Cherian / Pexels, Eno Eltora / Pexels, Everett Bumstead / Pexels, German Korb / Pexels, Gustavo Fring / Pexels, Hanna Pad / Pexels, Ivan S / Pexels, K / Pexels, Kampus Production / Pexels, La Trucheria Lab / Pexels, Lisa Fotios / Pexels, MART PRODUCTION / Pexels, Mikhail Nilov / Pexels, Mr Pixel / Pexels, Murilo Castro / Pexels, Oleg Gamulinskii / Pexels, Pavel Danilyuk / Pexels, RDNE Stock project / Pexels, Rafael Minguet Delgado / Pexels, Roberto Hund / Pexels, Ron Lach / Pexels, Sergey Meshkov / Pexels, Sora Shimazaki / Pexels, Tima Miroshnichenko / Pexels, Vincuk Konan / Pexels, Vlada Karpovich / Pexels, cottonbro studio / Pexels (Pexels License). Stock video: Pexels. Icons: Phosphor Icons (MIT). Music: "Investigations", "Crypto", "Volatile Reaction", "Hiding Your Reality" by Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 4.0 License http://creativecommons.org/licenses/b... Quibi, Disney, NBCUniversal, Roku, Netflix, TikTok, YouTube, Apple and the other brands shown are trademarks of their owners; this video is independent commentary and not affiliated with or endorsed by them. Statements about the Eko lawsuit describe claims each side made in court; Quibi denied them, and the case was later settled. Subscriber and download figures are reported estimates and differ by source. The views expressed are the narrator's opinion. Real photographs are credited above; illustrations are AI-generated and contain no real people. Narration is AI-voiced. #Quibi #Business #Streaming