This week Blockbuster announced that it was closing the chain's 300 remaining U.S.-based retail stores, as well as its distribution centers.
Here are eight things that the Obama Administration could learn from the fate of the once popular video store.
1. Outdated, faulty technology will doom your operation.
A native online consumer market only has so much patience for outdated, non functioning technology when they are trying to purchase a product. Just ask Amazon.com.
And moving an industry online is harder than it looks.
Especially when you are the last one to arrive.
2. Options don't matter if the product sucks.
3. Getting members is hard, losing them is easy.
4. Prices matter.
5. Hidden fees are never popular.
6. Adaptation after-the-fact is hard, and hurts your brand.
7. You need to hire competent people to run your operation.
8. Using animals to sell your product is cute, but not always effective.
I mean, who doesn't like the Adorable Care Act? But did anyone sign up because of it?