Barnes & Noble = Blockbuster?

In 1994, Blockbuster was worth $8.4 billion.

Today, sixteen years later, it is worth $24 million.

Seventeen years that company had to change it ways, to save itself.

And I recall the words of the Nook-avoiding Chairman of Barnes & Noble, Len Riggio, from 1998 — twelve years ago:

I want to transform this enterprise from what it is into something that is totally different. I mean, totally different.

Let’s see:

1) Still lots of physical stores, like Blockbuster? Check.

2) Still dealing in physical goods, like Blockbuster? Check.

3) Embroiled in a hostile takeover ploy, like Blockbuster? Check.

4) Headed by people who avoid digital, like Blockbuster? Check.

5) Valuation sinking, like Blockbuster? Check.

It’s Friday, Len Riggio. Do your company some good after helping to sink sales of your lifeboat product, the Nook, earlier this week.

Tender your resignation!