Summary of Alan Payne's Built to Fail

Please note: This is a companion version & not the original book. Book Preview:

#1 The VCR led to the creation of the video store and eventually Blockbuster. But, had the studios had their way, it would never have happened. The studios believed copyright laws granted them complete control over their content, which included preventing citizens from recording programs on VCRs for private use. But in 1984, the Supreme Court overruled the lower court in a 5-4 decision.

#2 The VCR was made to record television shows and play them at more convenient times, but when studios began releasing movies on videocassette at prices customers were unwilling to pay, an unintended consequence resulted. The video rental store was born.

#3 The high price of video tapes dictated the business model of the early video stores of the 1980s. It drove a store owner’s approach to everything from the initial investment to open a store to the cost of rent, utilities, insurance, taxes, labor, and everything in between.

#4 The video rental industry also launched and funded an independent film movement. Films that would have never been made found an enthusiastic audience in the video store. As Quentin Tarantino put it, people were getting $800,000 or $1 million to make their little genre movie in 1988.

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