In 1997 Hastings and Marc Randolph co-founded Netflix, offering flat rate movie rental-by-mail to customers in the United States by combining two emerging technologies; DVDs, which were much easier to send as mail than VHS-cassettes, and an online Web site to order them from, instead of a paper catalogue. Headquartered in Los Gatos, California, Netflix has amassed a collection of 100,000 titles and over 100 million subscribers. Hastings had the idea for Netflix after his company was acquired. "I had a big late fee for 'Apollo 13.' It was six weeks late and I owed the video store $40. I had misplaced the cassette. It was all my fault. I didn’t want to tell my wife about it. And I said to myself, 'I’m going to compromise the integrity of my marriage over a late fee?' Later, on my way to the gym, I realized they had a much better Business model. You could pay $30 or $40 a month and work out as little or as much as you wanted."
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