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Tag: Patrick Bet-David

  • The Moral of the Story is That Netflix Shifted Our Habits, Says Patrick Bet-David

    The Moral of the Story is That Netflix Shifted Our Habits, Says Patrick Bet-David

    Blockbuster was an $8.4 billion company that was taken down by a startup called Netflix that successfully shifted the habits of consumers. Blockbuster thought that people wanted the experience of picking out physical DVD’s and would not want to just download a movie. They were wrong and today Blockbuster is out of business and Netflix is valued at $147 million.

    Patrick Bet-David, successful startup entrepreneur, CEO of PHP Agency, Inc., emerging author and Creator of Valuetainment on Youtube, talks about Shifting Habits:

    Shifting Habits

    I want to tell you a story about a company that’s going to be a love story for some, a horror story for a few, a fantasy type of story for others, and then obviously a money-making story for the people that were involved. But before I tell you the story about this company I want you to be thinking about two words; shifting habits. I’ll come back to those two words in a minute.

    Let me tell you this story about this company. It’s 1984, a company gets started, it has got a yellow and a blue logo and it’s called Blockbuster. Blockbuster is a great story. You’d go to Blockbuster with your girlfriend or your husband or your wife and say, “Do you want to go to the horror section?” “Oh no, maybe comedy. I’m almost certain this movie’s not going to be available.”

    Blockbuster: Nobody Wants to Download Movies

    That’s 1984, the year got started. Blockbuster after only nine years was worth $8.4 billion in 1993. By 1997, a company got started called Netflix and it’s only worth $50 million dollars three years later. At one point Blockbuster could have bought Netflix for $50 million. But they said, “I just don’t think that’s the direction the consumer is going. I don’t think they’re going to shift their habits to this area because people like the experience of coming to Blockbuster and actually seeing the DVDs they pick up. Nobody wants to just download the movies. It’s not going to be taking place. People are smarter than that,”

    Well, 149 million users worldwide disagreed with them. Netflix went from being a $50 million company in 2002 to today it’s a $147 billion company. By the way, Blockbuster on September 23rd, 2010, went out of business. They filed bankruptcy for $930 million and they’re gone. What’s the moral the story? Netflix since Christmas their stock is up 50 percent. Just in 2019, in the first 19 days of the year, Netflix is up 35 percent.

    The Moral of the Story is That Netflix Shifted Our Habits

    Netflix is up. That’s a love story for some, a horror story for a few, a fantasy type of story for others, and an obviously money-making story for those of us that were involved. Now having said that, what do you mean by shifting habits? So many people want to be innovators and shift their industry. I want to be in there, but I want to be disrupting my industry.

    Bezos shifted our habits and we stopped going to bookstores to buy books. He said I’m going to shift your habit of the way you buy books. That’s why Walmart is afraid of Amazon. Instagram shifted our habits of the way we looked at albums. When’s the last time you bought an album? The list goes on. Wikipedia put encyclopedia companies out of business. How many times have you gone to Wikipedia to find out about different things? All the time. The moral of the story is that Netflix shifted our habits.

    Disney is about to come out with Disney Flicks or whatever they want to call it. I know one of the Disney executives said, “We’re not really trying to compete with Netflix. We like Netflix. I use Netflix. We are just going to put out our Marvel products and Star Wars products and all this other stuff.” But Netflix becomes the one that led the way.

    No one even thinks about Red Box anymore because Red Box at first made sense. By the way, if you say I still use Red Box, you’re probably over 40 years old. I’m not trying to offend you, but if you still use Red Box you’re over 40. You go to Kroger or Ralph’s to get your movies.

    Start Thinking About Shifting Habits

    Stop trying to come up with a great idea. Starts thinking about shifting habits. Not Seven Habits of Highly Effective People. Shifting habits. How do people buy your product? How can you shift that habit? How do people buy the product from you? How can you shift that habit? Those who can become the Bezos, become the Zucks, become whatever you want to call it of their industry because they shifted someone’s habit.

    That’s all you got to be looking at. Not all this other crazy fancy stuff. So by the way, well Facebook ever be put out of business? Yes, by somebody who shifts our habit. Zuck says, “There’s no way in the world that’s the direction people are going to go to.” The will go that direction. That could also happen to Amazon and other companies as long as a new innovator is able to shift our habit.


  • Patrick Bet-David: Patriots and Entrepreneurs Make America Work

    Patrick Bet-David: Patriots and Entrepreneurs Make America Work

    Entrepreneur and successful motivational speaker Patrick Bet-David says that there are two groups who really make America work, Patriots who put their life on the line and entrepreneurs who put their salary on the line. He says that entrepreneurs choose choice over force and despite anxiety, they do it because they don’t want to live an average and ordinary life.

    Social Contacts: @patrickbetdavid / @ValuetainmentTV

    Patrick Bet-David recently posted this motivational speech on his 1 million subscriber YouTube channel Valuetainment: 

    Patriots and Entrepreneurs Make America Work

    You know who makes America work? Let me tell you who makes America work. I think the two people who are patriots in America are our Patriots who put their life on the line, but I think the second Patriots are entrepreneurs who put their salary on the line. You may not put your life on the line but let me tell you something you put your salary on the line. Any entrepreneur knows what I’m referencing when I say put your salary on the line.

    When you have a job and you’re making your three, four, five grand every month consistently. It’s security. You feel it’s security, it’s warm, it’s comfortable. You know you get to have your barbecue once a month, you get to have a decent life, you got some nice benefits. Somebody introduces you to an opportunity and you start working but most don’t, 80 percent don’t. They go back to protecting their salary.

    What Happens When an Entrepreneur Goes to Sleep?

    About 20 percent say man this is scary. They have a conversation with their wife and their family and their husband and they say… baby, I’m gonna make this decision. Babe this is scary, I know baby, and they go to sleep. You know what happens to an entrepreneur when he goes to sleep, he has a lot of anxiety attacks, he has worries, she stresses out, they think about their bills, they see savings deplete. They see all of us these things happen, but do you know why they do it? They do it because they have a dream because they don’t want to live an average and ordinary life and neither do you.

    You don’t have to be here today, you’re not an employee. You chose to be here today. It is your choice to be here today. You chose. Whether you get up and walk out right now we cannot fire you. You have chosen to be in this room today because we prefer CHOICE over FORCE. It is what we as human beings prefer is choice. I want to choose because I want what I want to do to.

    People Come Here to Be Free

    The most honorable jobs any human being could take is being in the military and being an entrepreneur because both of them have a lot of risks. If you in the military you could get killed. If you’re an entrepreneur you could get killed. You don’t do it for the small little things. Both of them have the same outcome. You know what the outcome is for both of them? It starts with the letter F. What is it? Freedom. Why do 41 million immigrants come here and the number two country with 11 million coming here is Russia? Why do people come here? Because we want to be free.

    You Are Responsible for Feeling Special

    I think most companies are talking about whether you the hit your numbers or not. I think most companies are talking about the smaller stuff. What they don’t realize is they’re gonna live 80 years and then they’ll die. No one will remember them but a few people and within two generations they’re forgotten and history will not favor them. I mean, I don’t see a purpose in that. I really don’t think the Creator gave you all those unique gifts that you got just to go out and be a regular person. I don’t and I don’t think you do either.

    I think when you’re alone by yourself and you kind of talking to yourself in the car, in front of the mirror, and you think you really are special. Guess what you really are special. But you only believe that for a split second and then you go back to feeling like you’re not special. So we’ve got to get you to feel like you’re special more often. You are responsible for that.