This. As streaming ticked up, they should have found a way to transition their business or cut their losses before winding up in debt. There is no way they shouldn't have seen the end coming.
The people that ran Blockbuster have to be least visionary people to have existed in business. They had a chance to buy Netflix early on but didn't see the value in it. Had they been smarter, all their stores would have still closed, but now Blockbuster would be the big time streaming app and they'd probably be more successful than they ever were as a brick and mortar store. I think Yahoo made a similar goof by passing on buy Google.
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