The documentary 'MoviePass, MovieCrash' reveals the downfall of MoviePass, showing how Farnsworth and Lowe's decisions led to massive financial losses and subsequent bankruptcy.
Farnsworth dropped the price of MoviePass from $30 to $10 monthly, leading to millions of subscribers, but the unsustainable model ultimately resulted in financial disaster.
Hundreds of millions of dollars were spent not only on the unsustainable subscription model but also on extravagant events like Coachella parties, illustrating poor financial judgment.
The rise and fall of MoviePass under Farnsworth's leadership illustrates a cautionary tale of greed and mismanagement in the startup landscape.
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