"When Netflix launched in 1997, it was a tiny movies-by-mail operation, run out of a storefront in a Silicon Valley stripmall. It was going up against Blockbuster, a $6 billion behemoth that owned the movie rental business.
Now Blockbuster is gone, and Netflix is a $20 billion business, one so dominant that giant companies like Disney and AT&T are remaking themselves to chase after it.
Even if you don’t know this story, you know this story: Scrappy digital upstart comes out of nowhere, topples the incumbent, and becomes unstoppable.
Except ... this one almost didn’t happen. Blockbuster, it turns out, ended up doing a very good job of fighting back against Netflix and might well have won, but it made some fundamental mistakes that ended up dooming its future."
Land of the Giants - Vox podcast
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