Ep. 92- Let's Discuss Mitch Lowe's Idea Disruption and Innovation with VIDEODROID, NETFLIX, REDBOX, & MOVIEPASS

In Episode 92 of Idea Diary - Today, I talk about the great story of Mitch Lowe. He came up with an idea of VHS Kioks in 1982, building a company called Videodroid. 20 years later in 2003 he got the chance to build REDBOX as an executive for McDonald’s to complete and oversee his vision of people renting movies on the sidewalk. It’s very rare someone gets to complete an idea they had 20 years earlier, but I find it very comforting and special that he got have that achievement. He also was a co-founder of Netflix, and creator of MoviePass. Watch some of these interviews and speeches if you want some business innovation inspiration. Also, I forgot to mention on other ah-ha takeaway from watching his speech today, McDonald’s could have solved their low revenue issue with simply having cleaner bathrooms instead of spending millions of dollars and testing out millions of businesses to raise sales. They simply had lost that nice clean family restaurant feeling, and by bringing back clean excellence as a well-known McDonald’s trait, that brought the food sales back.

“You know when you are disrupting and being innovating when people say there is no way your idea is going to work” - Mitch Lowe

WATCH:

Mitch Lowe, Business Speaker, The Culture of Disruption

https://www.youtube.com/watch?v=lm5rYYePcjQ

Co-founder of Netflix Mitch Lowe Talks Angel Investing

https://www.youtube.com/watch?v=5tEhLA6J_bI&t=2354s

The Decline of Redbox...What Happened?

https://www.youtube.com/watch?v=sc-lrcYI1uo

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"Idea Diary" is a business lifestyle podcast about creative entrepreneurship. "Idea Diary" focuses on building creative businesses, and chronicles how Valerie Aiello uses multiple skills to create products, illustrations, film, music, and businesses.

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Valerie Aiello is a multi-hyphenate brand expert from Austin, Texas.