Blockbuster CEO 'Confused by Fascination' With Netflix

#1

Post by cstejerean » Tue, Aug 19, 2008, 3:32 PM UTC

Blockbuster CEO 'Confused by Fascination' With Netflix
blog.wired.com

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#2

Post by jrockway » Tue, Aug 19, 2008, 3:45 PM UTC

"I've been frankly confused by this fascination that everybody has with Netflix," Keyes told Rafat Ali, in an interview with PaidContent.org.

Translation: "I am not qualified for my job. I know nothing about my industry, or what my customers want. I get a nice paycheck though."

I'm frankly confused as to why a CEO would think that being confused about his competition would bring him more business.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#3

Post by richtaur » Tue, Aug 19, 2008, 3:48 PM UTC

CEO and "confused" in the same sentence is a bad thing. If anybody should know WTF it should be that guy.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#4

Post by alaskamiller » Tue, Aug 19, 2008, 3:51 PM UTC

Wired couldn't pick the money quote, but it's really this:

This is a hypothetical one. Would you be ever interested in buying Netflix?

Keyes: Not really. Netflix doesn’t really have or do anything that we can’t and don’t already do ourselves. So, there’s really no advantage in buying.

And the reason why Keyes won't is because BBI is worth only $288 million while NFLX is worth over $2 billion. Way to bluster through, Keyes.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#5

Post by OneSeventeen » Tue, Aug 19, 2008, 4:00 PM UTC

jrockway wrote: post #2

"I've been frankly confused by this fascination that everybody has with Netflix," Keyes told Rafat Ali, in an interview with PaidContent.org. Translation: "I am not qualified for my job. I know nothing about my industry, or what my customers want. I get a nice paycheck though." I'm frankly confused as to why a CEO would think that being confused about his competition would bring him more business.

Yeah. Way to fail completely at your job, Keyes. This is a guy who can't imagine anyone using his product in a way different from the way he uses it. Fail.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#6

Post by joao » Tue, Aug 19, 2008, 4:03 PM UTC

How does one get a top CEO job and is just clueless?

There are lots of these types of sentences by CEOs that just show they don't understand their target market...

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#7

Post by cdr » Tue, Aug 19, 2008, 4:06 PM UTC

jrockway wrote: post #2

"I've been frankly confused by this fascination that everybody has with Netflix," Keyes told Rafat Ali, in an interview with PaidContent.org. Translation: "I am not qualified for my job. I know nothing about my industry, or what my customers want. I get a nice paycheck though." I'm frankly confused as to why a CEO would think that being confused about his competition would bring him more business.

He might know what his customers want, but the problem is his customers are becoming Netflix customers. The market has changed, but his target customer hasn't.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#8

Post by babyshake » Tue, Aug 19, 2008, 4:10 PM UTC

jrockway wrote: post #2

"I've been frankly confused by this fascination that everybody has with Netflix," Keyes told Rafat Ali, in an interview with PaidContent.org. Translation: "I am not qualified for my job. I know nothing about my industry, or what my customers want. I get a nice paycheck though." I'm frankly confused as to why a CEO would think that being confused about his competition would bring him more business.

Reminds me of how the GOP is "attacking" Obama by ridiculing his popularity.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#9

Post by macebobo » Tue, Aug 19, 2008, 4:10 PM UTC

alaskamiller wrote: post #4

Wired couldn't pick the money quote, but it's really this: This is a hypothetical one. Would you be ever interested in buying Netflix? Keyes: Not really. Netflix doesn’t really have or do anything that we can’t and don’t already do ourselves. So, there’s really no advantage in buying. And the reason why Keyes won't is because BBI is worth only $288 million while NFLX is worth over $2 billion. Way to bluster through,…

Maybe NFLX should buy BBI and fire Keyes! Heck, it is only slightly over $2 a share! It's amazing the arrogance Keyes displayed in the interview and how folks like this are able to stay in power even though BBI stock has been tumbling since mid-2002.

Re: Blockbuster CEO 'Confused by Fascination' With Netflix

#10

Post by sysop073 » Tue, Aug 19, 2008, 4:18 PM UTC

jrockway wrote: post #2

"I've been frankly confused by this fascination that everybody has with Netflix," Keyes told Rafat Ali, in an interview with PaidContent.org. Translation: "I am not qualified for my job. I know nothing about my industry, or what my customers want. I get a nice paycheck though." I'm frankly confused as to why a CEO would think that being confused about his competition would bring him more business.

This was good too: "Why would anyone want to watch anything other than new releases"

And this is why Netflix's share price is a good 15 times higher than Blockbuster's right now