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prematurely abandoning an established industry or practice, on the belief that something that is new or cutting-edge will be successful and profitable regardless of its quality or readiness.

Eponym referring to Netflix CEO Reed Hastings, who spun off the DVDs-by-mail service that had defined his company's success, re-branded it poorly, and retained the Netflix name for online streaming in the belief that it alone was the future of the industry.
It's important that we promote green energy, but we need to stop reed-hasting, or we'll just end up throwing more money at failing companies like Solyndra.
by ChunAsperEndao September 23, 2011
The worst business blunder that can made at any given moment which always results in the immediate loss of an important contract.
Our business relationship with the county school board was excellent until Gary pulled a reed hastings and got caught downloading over 60 giga-bites of gay midget kiddie porn on the school nurses computers.
by OXXO and XOOX November 05, 2011