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> In truth and in fact, and as Coconspirator 1 [Farnsworth] and LOWE knew... The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber gr
by legitster 2y ago
> In truth and in fact, and as Coconspirator 1 [Farnsworth] and LOWE knew... The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber growth, and MoviePass was losing money as a result.
It's really hard to call this fraud (except under the Matt Levine truism "everything is securities fraud). Amazon lost money for 20 years. Spotify burned $4 billion a year until they made money. But history is written by the victors, and Lowe is guilty of a business plan so bad it didn't have time to get bailed out.
- Suppafly 2y ago>It's really hard to call this fraud Yeah, I think a lot of the reporting on this is confusing their legitimate business model with the actual fraud they were charged with because it's easier to explain or something.