Reed Hastings: Life After Netflix | First Time Founders with Ed Elson

Today in First Time Founders, Ed speaks with Reed Hastings, co-founder and executive chairman of Netflix. They discuss the company’s path from dvd rental to streaming, the importance of company culture, what it was like to leave Netflix, and the challenges and joys of Reed’s newest venture: a ski resort in Utah.

Timestamps:
00:00 - Ask Prof G: What would retirement look like if you had built a successful, large-scale company?
01:18 - Welcome to First Time Founders
02:57 - What is Pure Software and why was it created?
04:08 - Was becoming an entrepreneur your main plan?
06:02 - What were you doing right to make Pure Software successful?
07:54 - Why did you venture into building another company about movie rentals?
09:29 - Why was Jeff Bezos' offer rejected?
10:19 - Why Blockbuster didn't want to buy Netflix?
11:45 - How did Netflix surpass Blockbuster?
13:54 - Was your team aware of your final goal with Netflix?
15:22 - Break
15:38 - Was it hard to convince your team to switch to streaming?
16:35 - What do you think has enabled your consistent innovation as a leader?
19:03 - What are your thoughts on pivoting to streaming after its rocky start and eventual success?
21:57 - Why was moving fast and aggressively important for Netflix?
23:10 - What does "farming for dissent" mean?
24:57 - What does "extraordinary candor" mean?
25:58 - What does the "keeper test" mean?
26:34 - Break
26:47 - How can a great leader create a great succession plan?
28:34 - Was it hard to leave Netflix?
30:12 - How does managing a ski resort compare to managing a streaming service?
32:16 - How have joy and happiness influenced your career and decisions?
33:52 - What parts in your career were the most rewarding?
34:42 - What has the philanthropic side of your career brought you?
35:27 - Should people embrace being hyper-focused to become successful?
36:48 - What piece of advice would you give to a young man starting his career?
38:10 - What piece of advice would you give to your younger self?
38:57 - How can one be more productive with their self-criticism?


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