Quibi's $1.75 Billion Burn

Quibi burned through $1.75 billion in just six months before shutting down, proving that big names and big money cannot guarantee product-market fit. This burn rate is 40% faster than Quibi's closest rival in speed of capital destruction, with Quibi lasting only half the time of the average failed streaming startup. The service launched with $1.75 billion in funding from Jeffrey Katzenberg and major studios, yet its mobile-only, short-form video pitch failed to attract a paying audience.