Reed Hastings has posted a letter at his Netflix blog (below, the comments are fascinating) admitting that "I messed up," and explaining why he initially separated Netflix's DVD and streaming businesses. Basically, one is the past, which threatens to drag down his company's stock price, and the other is the future, and should continue to thrive and grow. You can tell where Hastings thinks Netflix's future lies because that's the business that's getting the Netflix name. The company that is going to dwindle and die gets called Qwikster. The red envelope will be the same and will add video offerings, but the logo will change. (Here's Techcrunch.)
- By Anne Thompson
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- September 19, 2011 4:35 AM
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- 1 Comment
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