this post was submitted on 04 Aug 2023
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Asklemmy
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Didn't really result in a loss, but a huge missed opportunity, when AT&T turned down an offer for them to purchase the early internet.
At least something we can all cheer about :)
This also reminds me of Yahoo turning down the offer to buy Google in their early stage! https://finance.yahoo.com/news/remember-yahoo-turned-down-1-132805083.html
Or Blockbuster turning down a $50 million offer to buy out Netflix.
That one really wasn't as obvious at the time. Netflix was in huge debt and hadn't really built their streaming platform yet. In fact streaming was barely possible. Blockbuster should have been able to out-compete Netflix at both dvd by mail and streaming but they screwed it up. Netflix won, but may now end up getting killed by the big studios.
It never is, that's how the investment market works. Blockbuster thought it was still ludicrously high for an ailing niche competitor. That's arguable, but I don't think anyone could guarantee Netflix was actually going to achieve their (at the time very sci-fi) vision.