Idea for Netflix the Result of $40 VHS Late Fee
As the story goes, Reed lamented the $40 fee he was nailed with upon returning a VHS copy of 'Apollo 13' in 1997. Soon after, he began to research the idea of starting a rental-by-mail outfit. Interestingly enough, the subscription based model that nearly 10 million people enjoy today was something that came after the first concept, but obviously he hasn't tried to mess with the magical elixir very much since.
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