Discussion

• @benmullin Ben Mullin on x

  It's official: Jeffrey Katzenberg is calling investors to tell them he's shutting the company down, sources tell @JBFlint and I: https://www.wsj.com/... https://twitter.com/...

• @tonyromm Tony Romm on x

  RIP Quibi, 2020-2020 A company committed to keeping things short, in a quite literal sense. https://www.wsj.com/...

• @loudmouthjulia Julia Alexander on x

  “Quibi is not succeeding. Likely for one of two reasons: because the idea itself wasn't strong enough to justify a standalone streaming service or because of our timing. Unfortunately, we will never know...” Katz and Whitman open letter re: Quibi. https://quibi-hq.medium.com/ ...

• @joshconstine Josh Constine -SignalFire on x

  Quibi is shutting down — a $1.75B crash due to 4 problems I listed upon launch: -Stodgy Hollywood directors instead of mobile-native creators -No screenshots = No memes -Slow content + weak discovery = no attention -No social or 2nd-screen features https://techcrunch.com/...

• @pkafka Peter Kafka on x

  Thing to underscore: The big media companies that put $ into Quibi didn't put much $ into Quibi at all - $10mm here, another $25mm here. And they got paid at least that to make shows for Quibi, so it's all groovy.

• @benmullin Ben Mullin on x

  Scoop: Quibi has hired a restructuring firm that presented a range of recommendations to the board, including shutting down: https://www.wsj.com/...

• @pierce David Pierce on x

  This is ... an incredibly sad letter. So many things like this are like “failure is the great teacher” and “remember when Michael Jordan got cut from the team” but this just says, we failed and it sucks. Kinda gutting to read https://twitter.com/...

• @levelsio @levelsio on x

  Imagine burning $2 billion dollars of VC funding in 6 months That's $10 million per day $455,000 per hour $7,589 per minute $126 per second https://www.wsj.com/...

• @alexfilho Filho on x

  I worked on a couple shows that were being pitched for this hellhole of an app. Fucking nightmare the entire process internally and externally. https://twitter.com/...

• @newley Newley Purnell on x

  During a video call with employees, an emotional Mr. Katzenberg suggested Quibi staffers listen to the song “Get Back Up Again,” sung by actress Anna Kendrick in the animated film “Trolls,” to buoy their spirits, according to people familiar with the call https://www.wsj.com/...

• @gointothestory Scott Myers on x

  Imagine how many indie films this could have funded. https://twitter.com/...

• @pkafka Peter Kafka on x

  For the record, Katzenberg still thinks launching during a pandemic was bad for Quibi. But also allows that maybe “the idea itself wasn't strong enough to justify a standalone streaming service.” https://twitter.com/...

• @davidsacks David Sacks on x

  Quibbi was a valiant try, but it will go down as a reminder that you can't brute force the process of finding product-market fit. A startup that hasn't launched yet is a seed-stage company, with seed-stage risk, even if raises $2B. You can't skip steps.

• @pt Parker on x

  People root against dumb-but-harmless startup ideas & get *so* upset at expensive craters. The vibe I get is cynics feel this is money out of their pockets. It's good people fund dumb ideas. Grow the pie by being supportive. Here's to your courage, money-burners 🥂! Respect.