General World News

If you’re laughing at the death of MoviePass, you probably aren’t paying close enough attention

MoviePass

  • MoviePass, the embattled movie-ticket subscription service, shut down over the weekend after burning hundreds of millions of dollars.
  • The service had become a joke in the industry for its unsustainable business model.
  • Contrary to a popular media narrative, however, venture capitalists were not the ones who lost money on the startup’s downfall.
  • MoviePass’ parent company, Helios and Matheson Analytics, flooded the public markets with millions of new shares to cover the service’s massive losses.
  • Many of the losers were unsophisticated retail investors, some of whom previously spoke to Business Insider about believing in the MoviePass product.
  • One retiree investor named Ken said he had lost read more >>>

    Source:: BusinessInsider.Com