Netflix tried going for quantity over quality, hoping the law of averages would help them out (it didn’t); they favored short-term hype and catering to the zeitgeist rather than having the patience to let shows breathe and find their audience, and after repeatedly failing to improve their product amid increased competition, they regularly jacked-up their price without justification. Netflix is a textbook case of corporate hubris. This is a company that was rolling in capitol and continued to throw the same sh*t at the wall hoping it would stick despite warnings left, right, and center that it needed to step up.
The biggest contribution Reed Hastings and Elon Musk will have made to business are academic debates over who squandered more of a lead in their given industries. From such heights and potential, they’ll be reduced to examples in a long line of mere cautionary tales dissected within the halls of Wharton.