Since Netflix started in the late 90s as a DVD-by-mail rental service competing with Blockbuster, it has completely reinvented itself... twice – first, when it went from DVD rental to video streaming platform, and then again when it went from licensing to producing original content.But what does it take to create an organization capable of reinventing itself?In this episode, originally recorded for the Commonwealth Club of California, Netflix CEO and co-founder Reed Hasting talks about his new book "No Rules Rules: Netflix and the Culture of Reinvention" with a16z co-founder and fellow author Ben Horowitz, who also wrote a bestselling book about culture last year. During the conversation, Reed tells the story of Netflix's evolution and his management philosophy, including the hard lesson he learned about what happens when you optimize for efficiency at the expense of creative talent. He also explains why sometimes a more narrow market focus is better for growth and shares the tactics that have helped Netflix expand globally and translate a culture of innovation across different countries, from Japan to Brazil to America.
Netflix co-founder Reed Hastings came to believe that corporate rules can kill creativity and innovation. In this latest edition of the Freakonomics Radio Book Club, guest host Maria Konnikova talks to Hastings about his new book, No Rules Rules, and why for some companies the greatest risk is taking no risks at all.
I’m not going to bury the lede here, and that’s mostly because I need to get back to my Ozark binge: This episode of Business Casual features Reed Hastings, cofounder, chairman, and co-CEO of Netflix.There’s a lot to unpack with Reed. Because companies don’t just become cultural cornerstones overnight. It takes luck, hard work, and, as it turns out, a very distinct corporate strategy. After all, what you watch on Netflix says a lot about you...how you run Netflix might say more.The ways Reed runs Netflix might surprise you. In this interview, he gets candid about his triumphs and failures and gives us the state of play in these so-called streaming wars. Spoiler alert: Netflix is winning. Reed gives an inside look at what makes Netflix tick—and how it became a $200 billion company with more than 190 million subscribers worldwide...some 3x the subscriber count of its biggest competitor.And most importantly, Reed predicts how Netflix might meet its demise. Because for every Netflix, there’s a Blockbuster. And someday Netflix will be the Blockbuster.After you listen, read my column to find out why I disagree with Reed: https://column.businesscasual.fm/timing-beats-culture
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