Up next in 10
History Won’t Soon Forget These Expensive Mistakes | 12am News
26K views
Apr 24, 2025
Welcome to 12am News – your go-to source for fresh, informative content at midnight! We bring you daily updates on current events, world news, and intriguing facts, all tailored for a late-night audience. Stay informed with us – subscribe and hit the notification bell!" #12amNews #DailyUpdates #StayInformed
View Video Transcript
0:00
throughout history human error has led
0:02
to some Monumental and costly mistakes
0:05
these blonders ranging from misplaced
0:07
decimal points to missed business
0:09
opportunities have resulted in financial
0:12
losses amounting to millions and even
0:14
billions of dollars the incident serve
0:16
as a stark reminder of the high stakes
0:20
that can be involved in decision making
0:22
and the importance of attention to
0:24
detail one of the most notable examples
0:27
of such an error is the case of
0:30
Blockbuster Video once a giant in the
0:33
video rental industry Blockbuster missed
0:36
a golden opportunity in 2000 when it
0:38
turned down a partnership with Netflix
0:41
Reed hashing co-founder of Netflix
0:43
proposed a mutual promotion agreement
0:45
which Blockbuster CEO John antio
0:48
declined a decade later Blockbuster was
0:51
out of business while Netflix's Valley
0:53
sworded to $15.8 billion revolutionizing
0:57
the way we consume media in the realm of
1:00
international deals Russia sale of
1:02
Alaska to the United States in 1867 for
1:06
$7.2
1:07
million stands out Russian Emperor
1:10
Alexander 2 underestimating the value of
1:12
the territory sold it off today with its
1:15
vast oil and gas reserves Alaska's value
1:18
is estimated at around $200 billion
1:21
highlighting a colossal miscalculation
1:23
on Russia's part the wakaki building in
1:26
London costing $243 million
1:30
became Infamous for its unintended
1:32
function as a giant concave mirror this
1:36
architectural marel focused sunlight
1:38
onto the streets below reaching
1:40
temperatures high enough to melt cars
1:43
this oversight not only caused the
1:45
developers in terms of construction but
1:47
also in compensating for damages
1:50
including a
1:52
$1,151 car repair bill for one
1:55
individual record label Deca records
1:57
made a historic blunder in 19 62 by
2:00
rejecting The Beatles then known as the
2:03
Silver Beatles deas executive dick row
2:07
believed guitar bands were falling out
2:10
of fashion this decision caused the
2:12
label dearly as The Beetles went on to
2:15
become a global phenomenon earning an
2:18
estimated $50 million in record sales in
2:21
1964 alone NASA's Marsh climate Orbiter
2:25
mission in 1999 suffered a $125 million
2:29
setback back due to a metric system
2:32
mishap Engineers using different
2:34
measurement systems failed to coordinate
2:37
effectively leading to the loss of the
2:40
spacecraft this error highlighted the
2:42
need for stringent communication and
2:44
standardization in space missions George
2:47
Lucas creator of Star Wars made a
2:50
decision that cost him a fortune in
2:52
potential earnings by signing over
2:54
merchandising rights to 20th Century Fox
2:57
Lucas forfeited profits from the
2:59
immensely success uccessful line of Star
3:00
Wars toys and other merchandise which
3:03
crossed over $100 million in 1978 and
3:06
billions sequently the story of Ja
3:09
Rollings Harry Potter series is a tale
3:12
of missed opportunities for many before
3:15
Bloomsbury publishing picked up the
3:17
series 12 other Publishers rejected it
3:20
the series has since crossed around $7.7
3:24
billion worldwide a massive loss for
3:27
those who underestimated its potential
3:30
the 2017 Justice League film faced a
3:33
unique challenge during re- shoots Henry
3:35
cavl who played Superman was
3:37
simultaneously working on Mission
3:39
Impossible Fallout which required him to
3:42
sport a mustache Warner Bros had to
3:44
spend $25 million on reshoots and
3:48
digital effects to remove Cav's mustache
3:51
for the Justice League fi a typo in 2005
3:54
cost mizuo Securities company a
3:57
staggering $25 million
4:00
a broker mistakenly listed a stock of
4:03
one yen instead of the intended price of
4:06
around
4:08
$5,000 this error led to a massive
4:10
sell-off cashing the company offg guard
4:12
financially in Spain the construction of
4:15
the ISAC Perl submarine costing $2.3
4:18
billion was jeopardised by a simple
4:21
decimal point error in the design
4:24
causing the submarine to be 77 tons
4:26
overweight and incapable of resurfacing
4:29
correcting this mistake was adjusting
4:32
the submarine size to fit into docks
4:34
cost the Spanish government an
4:36
additional 11.9
4:38
million the Millennium bridge in London
4:41
built to celebrate the New Millennium at
4:44
a cost of $24.1 million was closed
4:47
within hours of its opening due to
4:50
unforeseen sway caused by foot traffic
4:53
this oversight Associated an additional
4:56
$6.6 million in modifications over 2
4:58
years to rectify the issue ating error
5:01
by alalia Airlines in 2006 offered a
5:04
flight from Toronto to Cyprus for $39
5:07
instead of the intended
5:09
$3,900 this typo led to the sale of
5:12
2,000 tickets at the incorrect price
5:15
resulting in a loss of approximately $5
5:17
million for the airline these incidents
5:20
collectively underscore the profound
5:22
impact that seemingly small errors and
5:24
oversights can have especially in high
5:27
stakes environments they serve as
5:29
caution retails and learning
5:31
opportunities emphasizing the importance
5:33
of diligence foresight and the
5:35
willingness to en raas new opportunities
5:37
in business and Beyond
#Business News
#News