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Stacey Spikes built MoviePass from the ground up, a subscription model that let you see unlimited movies for one monthly fee, only to watch investors hand his company to someone else.

Alicia and George break down how slashing the price to $9.99 turned three million subscribers into a $40 million monthly loss, why gaming growth metrics is a trap that even smart founders fall into, and what really happens when you take capital from people who want control more than they want your vision to succeed.

They also get into the uncomfortable truth about who gets rescued when a startup is drowning, and why Spikes buying his own company back out of bankruptcy might be the most satisfying ending in startup history.

Timestamps:

0:00 - 1:00 Alicia and George introduce their personal update and episode background

8:00 The initial concept of MoviePass as a gym membership-like subscription

13:00 How aggressive subscriber growth was prioritized over profitability

14:00 The impact of lowering subscription prices from $40 to $9.99

16:00 The unsustainable math: losing $40 million in May 2018 alone

17:00 Changes in strategy: limiting use, locking out users, and the fallout

19:00 The financial shenanigans: loans, SEC issues, and the ultimate bankruptcy

22:00 The return of Stacey Spikes and the lesson in founder resilience

26:00 Critical reflections: why growth without profit is a business failure

28:00 The importance of founder control and avoiding bad investor influence

28:30 Racial disparities in startup funding and investor bias

30:00 The legacy and current state of MoviePass’s innovative idea

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