1. to fall short of success or achievement in something expected, attempted, desired, or approved: The Netflix business failed because of poor planning.
2. to receive less than the passing grade or mark in an examination, class, or course of study: He failed in running a multibillion dollar entertainment business.
3. to be or become deficient or lacking; be insufficient or absent; fall short: Our common sense failed when we decided to screw our loyal consumer base.
4. to dwindle, pass, or die away: Netflix failed for lack of customers.
5. to lose strength or vigor; become weak: Netflix failed after inception of Qwikster.
Yeah, it got Qwikstered.