Inspired by the success of Netflix, Hollywood studios pursued Silicon Valley-style hypergrowth with tactics borrowed from the likes of Uber and Lyft.
First, we need to understand why the 2010s may well come to be remembered as the great decade of magical thinking for Silicon Valley. Drunk on a truly transformational first decade of the 21st century — one that saw Google, Amazon, the iPhone and social media storm the world’s stage — flush tech investors turned their sights toward the next generation of start-ups, eager to see them do the same.
We know how it ended. Uber and Lyft have never been sustainably profitable, WeWork collapsed dramatically when it became clear that it was merely a wildly over-leveraged real estate company, and Theranos’ futuristic medical technology was outright fraudulent.
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