Extremely short film only works for the spontaneity of people’s individual creativity and not as a corporately produced product. See: vine, tiktok, etc. When it’s a corporate production it isn’t cool anymore.
Step 1: "I read in the Wall Street Journal that young people's attention spans are shorter these days, and that PewDiePie and Jake Paul make bank on Youtube with 10 minute videos."
Step 2: "I feel my entertainment company was late to the party with things like YouTube, Netflix and TikTok. It would have been better if we'd got in at the ground floor."
Step 3: "I'm told even if those youtube videos look spontaneous, they have scripts and production teams behind them."
Step 4: "So Quibi is like that, but with celebrities? And other entertainment CEOs have already signed up to invest? Then count me in!"
The obvious mistake was going all-in on the first (unproven) concept and leaving no time/budget to experiment with the latter. Smacks very much of the hubris of a entrenched, well-capitalized industry.