MoviePass, the braindead idea of the decade

Interesting... so from the start it was a fail-company, which relied on a lot of hopes and 'IFs'... basically assuming that everything would work out (maybe) if they just got a lot of clients, regardless of cost. I guess what they lost on their sales they thought they'd somehow make up for in volume? (joke!)

Reminds me of the Dot-Com boom/bust with that line of thinking. No one thought of this before hand? How did they not realize it was unlikely to end well (again)?
 
My cousin worked for them. That's what I told him . Crap idea. He was a programmer. He didn't argue with me I think he actually agreed haha.
 
I feel vindicated:

https://variety.com/2024/film/news/...ecurities-fraud-guilty-conspiracy-1236146013/

"Former MoviePass CEO Mitch Lowe pleaded guilty Monday to a securities fraud charge, admitting that he conspired to deceive the public and investors about the sustainability of the company’s $9.95-a-month movie subscription service.

Lowe, 72, faces a maximum of five years in federal prison. His plea agreement has not yet been made public.

Ted Farnsworth, the former CEO of parent company Helios and Matheson, is scheduled to face a trial on the same charges next March.



Farnsworth, 62, has been in federal custody since August 2023, when his bond was revoked after he allegedly used company funds to pay for a sex worker.
"
 
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