Culture & entertainment
The $40 late fee that supposedly inspired Netflix
HERE’S THE INTERESTING PART
Spite is genuinely the most powerful driving force in modern capitalism. Legend has it that Reed Hastings was so annoyed by a forty-dollar late fee for a VHS copy of Apollo 13 that he decided to invent a subscription model with no late penalties. It was basically a highly elaborated revenge plot that ultimately destroyed the video rental industry forever.
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