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Katzenberg: No Shame

Jeffrey Katzenberg On Quibi’s Nearly Two-Billion-Dollar Burn: “I couldn’t be prouder of what we built and delivered. The big idea of a next generation of film narrative, longform stories in quick bites. The content that was made, the talent that contributed to it, the studios that made it. They exceeded my expectations. But I am humbled by its failure. It clearly did not have a product–market fit. We can argue about, was it the product, was it the market at the time we launched, or was it never to be a fit? But we do get up everyday and take a little TV with us and have in-between moments. Will it never be a product–market fit? I’m not sure. So I’m humbled. In life I believe the greatest lessons you learn are from your mistakes and misses and not your successes. Trying to follow your exact path on your next success usually doesn’t lead to success. But the learnings from failure are powerful. I am humbled, but not humiliated by it, because I am proud of what we did.”

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