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Former MoviePass CEO admits the $9.95 'unlimited' ticket scheme was fraud

3 点作者 achristmascarl8 个月前

4 条评论

legitster8 个月前
&gt; In truth and in fact, and as Coconspirator 1 [Farnsworth] and LOWE knew... The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber growth, and MoviePass was losing money as a result.<p>It&#x27;s really hard to call this fraud (except under the Matt Levine truism &quot;everything is securities fraud). Amazon lost money for 20 years. Spotify burned $4 billion a year until they made money. But history is written by the victors, and Lowe is guilty of a business plan so bad it didn&#x27;t have time to get bailed out.
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toomuchtodo8 个月前
Related:<p><i>Former CEOs of MoviePass and Parent Company Charged in Securities Fraud Scheme</i> - <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=33476838">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=33476838</a> - Nov 2022 (2 comments)
Circlecrypto28 个月前
Great follow up to the MoviePass, MovieCrash documentary on HBO.
chiefalchemist8 个月前
&gt; The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber growth, and MoviePass was losing money as a result.<p>Oh come on now, who didn&#x27;t realize this? It was obviously a loss-leader. Sure they could have done $19.95 or $29.99, but then they would have paid more in marketing &#x2F; advertising.<p>Maybe they were deceptive about how sustainable the biz model was at that price point? But God help any investor who couldn&#x27;t tell that $9.95 didn&#x27;t have a long term future.<p>Love might be blind, but evidently greed can be as well.
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