Burn Rate

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They sold dollar bills for ten cents and hoped to make it up on volume. The spectacular collapse of the deal that was too good to be true.
For $9.95 a month, you could see a movie every single day. It was the deal of the century for consumers, and a suicide mission for the company. MoviePass became the fastest-growing subscription service in history, gaining millions of users in months. There was just one problem: They paid the theaters full price for every ticket. The more customers used the product, the faster the company died. "Burn Rate" is the wild story of Mitch Lowe and Ted Farnsworth, who tried to "blitzscale" their way to a monopoly by selling dollar bills for ten cents. It is a modern parable of Silicon Valley hubris, data-mining dreams, and the insanity of the "growth at all costs" mindset. Learn how they tried to stop users from going to the movies by changing passwords and blocking screenings, all while the ship went down in flames.

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David R. Clark
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