When you approach the notion of start-ups and M&A using my lens,
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becomes the next one to fall. Carl Icahn knows this, which is one reason why he decided
to give Reed Hastings a little hell
. Hastings responded, not surprisingly, by making it more difficult for Icahn to make a move; however, the Netflix CEO did this at what could be
his shareholders' expense
That's the kicker here. Companies such as Netflix and
make perfect candidates to go the way of Zipcar, but their CEOs have enough control -- officially or not -- to block an unfriendly party from getting too hostile. While it does not and probably never will require a bailout,
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, controlled by Mark Zuckerberg, operates under the same structure.
If Hastings cares about his company and the future of Netflix as
streaming pioneer, he'll back off like the Zipcar founders did a long time ago. They let corporate executives take over and then make the right move, which, in this case, was giving up independence.
This doesn't mean, however, that Zipcar must cease being a start-up.
-- Written by Rocco Pendola in Santa Monica, Calif.