Summary of Alan Payne's Built to Fail

Everest Media

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The VCR led to the creation of the video store and eventually Blockbuster. But, had the studios had their way, it would never have happened. The studios believed copyright laws granted them complete control over their content, which included preventing citizens from recording programs on VCRs for private use. But in 1984, the Supreme Court overruled the lower court in a 5-4 decision.
#2 The VCR was made to record television shows and play them at more convenient times, but when studios began releasing movies on videocassette at prices customers were unwilling to pay, an unintended consequence resulted. The video rental store was born.
#3 The high price of video tapes dictated the business model of the early video stores of the 1980s. It drove a store owner’s approach to everything from the initial investment to open a store to the cost of rent, utilities, insurance, taxes, labor, and everything in between.
#4 The video rental industry also launched and funded an independent film movement. Films that would have never been made found an enthusiastic audience in the video store. As Quentin Tarantino put it, people were getting $800,000 or $1 million to make their little genre movie in 1988.

Sujets

• Marketing
• General
• Business
• Economics
• General officer
• Marketing et communication

Informations

• Publié par: Everest Media LLC
• Date de parution: 20 août 2022
• Nombre de lectures: 0
• EAN13: 9798350016284
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Insights on Alan Payne's Built to Fail
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7 Insights from Chapter 8 Insights from Chapter 9 Insights from Chapter 10 Insights from Chapter 11 Insights from Chapter 12 Insights from Chapter 13 Insights from Chapter 14
Insights from Chapter 1

#1

The VCR led to the creation of the video store and eventually Blockbuster. But, had the studios had their way, it would never have happened. The studios believed copyright laws granted them complete control over their content, which included preventing citizens from recording programs on VCRs for private use. But in 1984, the Supreme Court overruled the lower court in a 5-4 decision.

#2

The VCR was made to record television shows and play them at more convenient times, but when studios began releasing movies on videocassette at prices customers were unwilling to pay, an unintended consequence resulted. The video rental store was born.

#3

The high price of video tapes dictated the business model of the early video stores of the 1980s. It drove a store owner’s approach to everything from the initial investment to open a store to the cost of rent, utilities, insurance, taxes, labor, and everything in between.

#4

The video rental industry also launched and funded an independent film movement. Films that would have never been made found an enthusiastic audience in the video store. As Quentin Tarantino put it, people were getting $800,000 or $1 million to make their little genre movie in 1988.

#5

In 1987, thousands of video stores were generating over $3 billion in sales. The business had been created by entrepreneurs who wanted their share of this exploding business, and many were mom-and-pop stores.
Insights from Chapter 2

#1

The connection between Blockbuster, the dominant force in home entertainment for over 20 years, and Waste Management, the largest garbage company in the world, is that they were both founded by H. Wayne Huizenga. He was a self-made billionaire who loved buying, building, and selling companies.

#2

Huizenga, like many other video store owners, was attracted to the business because of its high profitability. He planned to roll these companies into one giant service company and go public, which would have given him the financial clout to grow even faster.

#3

Blockbuster was a success, and the company went public. However, the Barron’s article questioning the company’s viability caused the stock to drop, and the planned secondary public offering to sink from $18 million to only $4 million.

#4

Huizenga brought legitimacy to the video rental industry.