Netflix CEO Reed Hastings Says ‘I Messed Up’ In Mass Email

Though they were once at the top of their game, Netflix has come under a lot of scrutiny lately.

They are being criticized for raising prices significantly, losing Starz content, splitting the company into two parts (Qwikster, the new subsidiary) and generally being douchebags.

At least he’s sort of getting what he deserves, in the form of massive backlash (25,000 comments on their blog) AND a stock plummet. (Check out the 5-day stock chart, bottom left)

The most douchebaggy thing I can think of? Apologizing for something that you blatantly don’t plan on changing.

That’s exactly what Reed Hastings, Netflix co-founder and CEO, is doing.

He recently sent out a very fearful letter, apologizing for the price increase in August ($8.99 to $15.98 for streaming and DVD-by-mail) and explaining all the changes…

Continue reading “Netflix CEO Reed Hastings Says ‘I Messed Up’ In Mass Email”