Netflix In 2000 - Deepstash
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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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.

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MORE IDEAS FROM No Rules Rules

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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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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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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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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Talented people make one another more effective.

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Consistent feedback helps turn good employees into great ones.

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

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RELATED IDEA

Goals and directors of a meeting
Without someone clearly responsible, meetings have a high risk of being directionless and unproductive.

Every meeting should be aimed at achieving someone’s goals; that person is the one responsible for the meeting and decides what they want to get out of it and how they will do so. 

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Short Disclaimer

These are 5 tools my multi-millionaire CEO uses to stay productive. But....

My CEO works non stop, from 7am to 10pm, he’s extreme. His only priorities in life are work and family, and he’s told me he sometimes regrets that he lost touch with a few of his good friends.

My point here is:

one, this lifestyle is not for everybody. And

two, you won’t become a successful CEO just because you start using those tools.

This is inspirational advice only; remember to adapt this type of content to your own reality.

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Ancestry testing

DNA-testing is done by millions of people all over the world to analyze their DNA and find out where they originate.

Targeted marketing for DNA home-testing kits shows models under the banner “find out your ethnicity” or urges people to book holidays based on their “DNA story”. It’s estimated the industry will be worth £7.7bn by 2022.

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