The fall of Quibi: how did a starry $1.75B Netflix rival crash so fast?
I see lot of comments along the lines of &quot;silicon valley hubris&quot;, but how much of Quibi&#x27;s $1.75B actually came from silicon valley?<p>&gt; <i>In 2018, the startup (then called “New TV”) announced that it had raised $1 billion in funding. Among the initial investors were a who’s who of Hollywood studios: Disney, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&amp;T’s WarnerMedia, Lionsgate, MGM, ITV and Entertainment One (now part of Hasbro). Tech investors include China’s Alibaba Group. That funding round was led by VC firm Madrone Capital Partners; other investors were Goldman Sachs, JPMorgan and John Malone’s Liberty Global. The Katzenberg-founded WndrCo investment vehicle also is a Quibi investor.</i><p>It sounds like a bunch of old-school media companies and Hollywood studios trying to play Silicon Valley, and thinking they can build a Decacorn by spending lots of money and hiring famous celebrities, instead of doing small-scale MVPs and market-validation.<p>There&#x27;s a lot of non-techies outside of SV who seem to think that developers&#x2F;designers&#x2F;product-managers are just doing the menial plumbing of building out other people&#x27;s ideas, and that anyone can do the same thing if they just had access to capital. Maybe this debacle will convince them that there&#x27;s more to building a successful business than just capital and &quot;an idea&quot;.