No Rules Rules - Deepstash
No Rules Rules

Edison Ade's Key Ideas from No Rules Rules
by Reed Hastings

Ideas, facts & insights covering these topics:

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Netflix In 2000

Netflix In 2000

In 2000, Netflix co-founders Reed Hastings and Marc Randolph tried to sell their company to Blockbuster for $50 million.

“Of course, [Blockbuster] wasn’t interested. What did we possibly have to offer that they couldn’t do more effectively themselves?”

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556 reads

Netflix Was A Game changer

Netflix Was A Game changer

But as the world changed, it became clear that Netflix did have something different.

In 2010, Blockbuster declared bankruptcy — they’d been unable to transition from DVD rentals to streaming.

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283 reads

Netflix’s Revenue Skyrocketed

By 2019, Netflix had over 167 million subscribers in 190 countries and its original film Roma won three Oscars. Why did it, and not Blockbuster, succeed?

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277 reads

Netflix Work Culture

Netflix Work Culture

NETFLIX’S CULTURE PROMOTES FREEDOM AND RESPONSIBILITY AND HELPS EMPLOYEES INNOVATE AND ADAPT

Netflix has what Hastings calls a “no rules rules” culture. They value “innovation over efficiency” and “people over process.”

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251 reads

Freedom To Explore

Freedom To Explore

This means employees are given free rein to pursue new ideas that they see as in the best interest of the company. 

This flexibility leads to new discoveries and allows Netflix to consistently reinvent itself in a rapidly changing world. 

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240 reads

Netflix Culture Of Freedom

Netflix Culture Of Freedom

It’s important to note that Netflix’s culture of freedom is made up of three elements:

  • building up talent density,
  • increasing candor, and
  • reducing controls.

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219 reads

Talent Density

Talented people make one another more effective.

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218 reads

Increase Candor

Consistent feedback helps turn good employees into great ones.

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167 reads

Reduce Control

Highly successful and creative people can innovate better with more freedom.

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194 reads

IDEAS CURATED BY

buzzedison

Business Strategist, Investing in Africa, Tech Evangelist.

CURATOR'S NOTE

Best book I read in 2020. If you are looking for a book to help you with setting up and managing high performing teams, this is the book for you. How Netflix manages the team, vacation policy etc. you won’t be disappointed.

Curious about different takes? Check out our No Rules Rules Summary book page to explore multiple unique summaries written by Deepstash users.

Edison Ade's ideas are part of this journey:

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