Quibi is a uniquely American billion-dollar failure

Mel Magazine

"Six months after launch, Quibi is exploring the option of a sale, even if just for its tech," says Miles Klee. "What cash they have on hand is left over from spending $1 billion on programming alone. Whether you consider that money “wasted” depends on how much richer you think, say, Justin Bieber’s manager needs to be, but there’s no doubt it could have been better spent. Why, here’s a report from Bridgespan Group, a consultant to nonprofit and philanthropy groups, outlining six different 'Billion Dollar Bets' to create nationwide economic opportunity — the proposed investments, which include projects aimed at enhancing early childhood development, reducing incarceration and fixing dysfunctional social service programs, would likely show a high multiple return in Americans’ lifetime earnings, which you certainly can’t say about Quibi’s model."