Do you wish you own Netflix?

Um, welcome to watch Mojo.

And today we're counting down our picks for the top 10.

Dumbest statements by corporate execs.

For more discussion on topics like this, check out our business channel context, TV.

Ah, lot of people don't belong in our clothes and they can't belong.

Are we exclusionary?

Absolutely.

Africans want to work, and its workers are willing to work for less than $2 a day after the fact.

It looks unbelievably stupid for this list.

We're looking at the most out of touch damaging or inappropriate statements made by corporate executives.

Can you think of any other dumb lines?

Let us know in the comments below number 10, the music industry as a sick dog.

Doug Morris.

Whoa, We're not stealing, Okay?

We're just sharing with each other.

You know, it's no secret that the music industry was utterly rocked, no pun intended by file sharing sites like Napster, which allowed anyone instant and free access to every major album and song.

It was on college campuses with high speed Internet that Napster really took off in the fall of 99.

How many MP three do you have on your computer about 600 maybe like 100 or something six or 7000.

The music industry floundered, including Universal Music Group CEO Doug Morris.

During a profile with journalist Seth Mnookin, Morris claimed quote.

They just didn't know what to do.

It's like if you were suddenly asked to operate on your dog to remove his kidney.

What would you dio if hiring someone with digital business acumen sounds like a good idea, then Morris is quick to rebut.

With quote, I wouldn't be able to recognize a good technology person.

Phrases like good technology person tell you all you need to know about the music industry shake up in the two thousands.

The thing about music is that music should be available toe anybody that wants to hear it.

I think that that there should be no such thing as a price tag on Music number nine on Electric Toy.

William Morton from 18 67 to 18 78.

William Morton served as president of the Western Union Telegraph Company.

It was also around this time that Alexander Graham Bell was patenting the first telephone in starting A T and T telephone.

Huh?

What about your telegraph.

I'm going to give that up.

This is much bigger.

And you were in 18 76.

Orton and Western Union actually had the option to buy Bell's patent for $100,000 the considerable sum in the 19th century.

He declined and defended his decision with a question quote.

What use could this company make?

Oven electric toy.

Of course, hindsight is always 2020.

But Orton's disastrous decision may be one of the biggest business blenders in American history.

Telephones quickly spread throughout the world, and Bell became, ah, household name.

Did you know who William Morton was before we told you after the fact it looks unbelievably stupid.

You just can't believe it.

Maybe it's often given is one of the worst business decisions in the history of the United States.

Number eight High value programming.

Jeff Mucus.

Much like Napster, Netflix completely changed the TV and movie industry by introducing streaming as a widespread form of media consumption.

What Napster introduced America to was the idea that you could have a very large menu of content at your fingertips and you could hit a button and get that delivered in Hollywood, the move toward direct consumer business models has been incredibly disruptive.

Back in 2010, Netflix was in its infancy, and it had just made a deal to stream movies from distribution companies like MGM and Paramount.

You watch Netflix on your PC or on your TV through a game console or other devices connected to the Internet.

That's via Time Warner CEO Jeff Books, with quick to criticize their business model, saying quote at 8 to $10 it doesn't have the economics to support high value programming.

He also compared Netflix to the Albanian army, asking quote.

Is the Albanian army going to take over the world?

I don't think so.

He was decisively proven wrong.

Netflix did take over the world, and their economics has supported $200 million.

Blockbusters and Oscar winning films Do.

Do you wish you own Netflix?

Um, okay, you know, you know, the the only good answer for that since it's worth how much?

It's worth 20 or $30 billion.

Yeah, I wish I owned it.

Person number seven.

No ugly people, please.

Mike Jeffries until 2014, Mike Jeffries served as the CEO of popular clothes retailer Abercrombie and Fitch.

In a 2006 interview with Salon, he explained their marketing philosophy as being quote exclusionary.

Specifically, he said, quote candidly.

We go after the cool kids.

We go after the attractive, All American kid with a great attitude and a lot of friends.

Ah, lot of people don't belong and they can't belong.

Are we exclusionary?

Absolutely.

Shoppers on Park Avenue had a few things to say to Mr Jeffries.

I think it's going to affect their business because if they're only letting a certain type of people buy their clothes, then kind of hurt them.

He went on to criticize companies that embraced people of different sizes and ages.

When the comment faced backlash, Jeffries apologized and claimed that Abercrombie and Fitch doesn't discriminate based on quote individual characteristics.

Not only will I not let my kids shop at Abercrombie again, I will not let them wear what they already have in their closet.

Number six cars are a novelty Michigan savings.

When it comes to tech, it's tough to predict the future as such.

More than a few people have spectacularly misjudged the potential of new technologies.

In the early 20th century, Henry Ford wished to incorporate his automaker company, so he hired a lawyer named Horace Rackham.

Rackem personally bought $5000 in Ford stock against the advice of Michigan Savings Bank, their president told Rackham Quote.

The horse is here to stay, but the automobile is only a novelty.

Ah, fad.

In 1919, Rackham sold his stocks for $12.5 million and spent the rest of his life giving money to charity number five less than $2 a day.

Gina Rinehart, worth an estimated $15.6 billion US Australian mining magnet, and Harris Gina Rinehart generated immediate controversy with a video posted to the Sydney Mining Club's YouTube channel.

In the 2012 clip, she lauded Africa on the grounds that quote Africans want toe work and its workers are willing to work for less than $2 a day.

Such statistics make me worry for this country's future.

Indeed, few now could have missed the reports of companies running a ruler again over investments that were in the pipeline.

The Australian prime minister, Julia Gillard, was quick to counter, saying quote, It's not the Australian way to toss people $2 to toss them a gold coin and then ask them to work for a day, She added.

Quote.

We support proper Australian wages and decent working conditions.

Number four Kicking cigarettes James Morgan It's a well established fact that nicotine is addictive and that quitting smoking is difficult.

Chandler, what are you doing?

Chandler.

Oh my God, you're smoking again.

Well, actually, yesterday I was smoking again.

Today, I'm I'm smoking Still, however, according to tobacco executive James Morgan, quitting smoking is similar to acquitting candy.

In 1997 tobacco companies faced a $5 billion class action lawsuit filed by flight attendants who had been diagnosed with cancer due to second hand smoke.

During a deposition, Morgan was asked if cigarettes are addictive.

He claimed they weren't saying Quote.

If they are behavioral, e addictive or habit forming, they are much more like caffeine or, in my case, gummy bears.

Thank you, Theo.

Bizarre correlation was widely touted in the media.

Ah, company spokesperson rushed to do damage control, saying quote If people think he was relating gummy bears to smoking, they would be mis informed or misdirected.

Number three the iPhone.

Steve Balmer, the first iPhone was released in June of 2007, instantly transforming the way mobile phones were made and used.

However, Microsoft CEO Steve Balmer was not having it.

Um, in an interview with U.

S.

A.

Today, shortly before the iPhone was released, Balmer said.

Quote there's no chance the iPhone is going to get any significant market share.

No chance, he continued with quote.

I'd prefer to have our software in 60% or 70% or 80% of them.

Then I would tow have 2% or 3% which is what Apple might get right now.

Well, let's take phones first.

Right now, we're selling million's and million's and million's of phones a year.

Apple is selling zero phones a year.

Six months.

They'll have the most expensive phone by far ever in the marketplace.

And let's see, well, what's the expression?

Let's see how the competition goes.

It is currently estimated that Apple has about a 40% share of the U.

S.

Smartphone market and 11% globally.

This is yet another hilarious case of hindsight being 2020 when the name of your company is Microsoft and your formula works are formula was working number two, right to water.

Peter Brabeck Letmathe, tha this CEO of Nestle, found himself in some very hot water after the release of a documentary called We Feed the World.

In the documentary, Brobeck let Mata infamously claimed quote.

The one opinion which I think is extreme, is represented by the NGOs who bang on about declaring water a public right.

That means that as a human being, you should have a right toe water.

That's an extreme solution.

Human rights advocates were quick to challenge the claim.

Brobeck let Mata later changed his statement, saying that water for survival and hygiene is a right, but not for things like swimming pools or car washes.

Those require a price.

We must transform the way we think about water.

By 2025 1.8 billion people will be living in regions without enough water.

Water scarcity is the greatest challenge we face today.

The damage, however, had already been done.

He wasn't Nestle.

You're supposed to be happy making cocoa.

For people.

This guy is like going well.

People are running out of water.

What if we owned all the water on?

We kept it under our place.

What more mojo context.

TV produces original high quality videos on business, entrepreneurship and politics.

But from a different point of view, the battle is being fought between Netflix and YouTube.

The Federal Reserve should remove all of the current board members who served during the fake accounts scam.

If you want exclusive interviews with industry leaders in depth media analysis and documentaries with a fresh take on the state of business, check out context TV number one Total Crap.

Gerald Ratner.

People say to me, How can you sell this for such a low price?

I say, because it's total craft.

The infamous Ratner blunder may forever remain the most famous and damaging.

Ratner once served as the CEO of a major jewelry chain known as Ratner's group.

The business was prosperous and popular throughout the eighties and early nineties until Ratner publicly condemned his own products.

During a conference speech, Ratner joked that his products were quote total crap and that a prawn sandwich would last longer than the company's earrings.

I have to say the sandwich will probably last longer than the earrings.

But while the jokes were met with laughter, the public was none too happy.

The remarks cost the company £500 million nearly resulted in bankruptcy and lost Ratner.

His job as CEO had a horrendous effect on the business.

Selves collapsed overnight, they said.

I said it in private, behind my customers back.

How could I say in private Behind my customers?

Back at the Albert Hall on it was televised.

The company's name was changed to Signet Group to distance themselves from the controversy, and Ratner's name became synonymous with a major business gaffe.

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