Will Bitcoin SV (BSV) topple the incumbents of the Fintec and the payment industry like Netflix toppled Blockbuster?
Internet connections were once too slow for people to stream movies from Netflix. Instead, they borrowed videotapes from Blockbuster to watch at home. In September 2000, after months of trying to set up a meeting, Netflix co-founder Reed Hastings and CFO Barry McCarthy finally got together with Blockbuster CEO John Antioco. Netflix was in trouble. It was on track to lose $50 million that year while tens of other internet-based companies just went bust in the dot-com crash. Blockbuster on the other hand, after having just raised $465 million through an IPO the previous year, was doing very well. Reed and Barry hoped to work with John. They could develop and grow the online arm of Blockbuster, while John and his team maintained its stores.