Now that MoviePass is dead, can we please start funding sensible businesses?
Get the Full StoryDing dong, the completely unsustainable witch is dead. As we reported earlier today, MoviePass is shutting down. It leaves behind a few now-useless cards, and several major VC funds out of pocket to the tune of 68.7M. Make no mistake, this was a completely predictable turn of events. For over a year, MoviePass has struggled with cash-flow struggles, primarily because it had an utterly doomed business model. In short, it sold a product movie tickets for far less than it cost to acquire, with no concrete plans to reach profitability, save for vague postulations about analytics and partnerships. At first, This story continues at The Next WebShare: