$1 billion for a video streaming service?? Are these people actually insane? I don't see any way they will make back that much money with a service in a completely oversaturated part of the internet where YouTube, Netflix and other streaming services are pretty much meeting every desire any customer would have.
I mean, power to the people that have invested, but this looks like an investment graveyard.
Youtube wasn't even close to first -- it started in 2005. They were more like third or fourth. Youtube (and later google) got the formula and right -- they learned from the mistake the first movers made.
Sort of like Facebook, Dropbox, Salesforce, Instagram, Google, etc. None of them were first. Being first is dangerous.
I mean, power to the people that have invested, but this looks like an investment graveyard.