Quibi and the Perils of Ignoring the Wisdom of the Crowd

The short-lived billion-dollar backed startup got seduced by the fallacy of the visionary entrepreneur

Quibi founder Jeffrey Katzenberg demonstrates Quibi at Sundance in January. Photo: Daniel Boczarski/Getty Images

Quibi’s fate was foreseen by everyone — except, it would seem, the people inside the company. So why didn’t they listen?

The criticisms of Quibi were the criticisms of informed users, and ignoring informed users is a great way to fail.

I’m the author of The Wisdom of Crowds. I’ve been a business columnist for Slate and The New Yorker and written for a wide range of other publications.

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