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Reed Hastings, Co-Founder of Netflix — How to Cultivate High Performance, The Art of Farming for Dissent, Favorite Failures, and More (#730)

 
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Indhold leveret af The Tim Ferriss Show Archives - The Blog of Author Tim Ferriss. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af The Tim Ferriss Show Archives - The Blog of Author Tim Ferriss eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
Illustration via 99designs

“Hope is everything.”

— Reed Hastings

Reed Hastings (@reedhastings) became executive chairman of Netflix in 2023, after 25 years as CEO. He co-founded Netflix in 1997. In 1991, Reed founded Pure Software, which made tools for software developers. After a 1995 IPO and several acquisitions, Pure was acquired by Rational Software in 1997. Reed is an active educational philanthropist and served on the California State Board of Education from 2000 to 2004. He is currently on the board of several educational organizations including KIPP and Pahara. Reed is also a board member of City Fund and Bloomberg.
He received a BA from Bowdoin College in 1983 and an MS CS in artificial intelligence from Stanford University in 1988. Between Bowdoin and Stanford, Reed served in the Peace Corps as a high-school math teacher.

You can learn more about Powder Mountain at PowderMountain.com.
Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Wealthfront high-yield savings account; AG1 all-in-one nutritional supplement; and Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business.

The transcript of this episode can be found here. Transcripts of all episodes can be found here.

#730: Reed Hastings, Co-Founder of Netflix — How to Cultivate High Performance, The Art of Farming for Dissent, Favorite Failures, and More

This episode is brought to you by AG1! I get asked all the time, “If you could use only one supplement, what would it be?” My answer is usually AG1, my all-in-one nutritional insurance. I recommended it in The 4-Hour Body in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG1 further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system.

Right now, you’ll get a 1-year supply of Vitamin D free with your first subscription purchase—a vital nutrient for a strong immune system and strong bones. Visit DrinkAG1.com/Tim to claim this special offer today and receive your 1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase! That’s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive daily, foundational nutrition supplement that supports whole-body health.


This episode is brought to you by Wealthfront! Wealthfront is an app that helps you save and invest your money. Right now, you can earn 5% APY—that’s the Annual Percentage Yield—with the Wealthfront Cash Account. That’s more than ten times more interest than if you left your money in a savings account at the average bank, according to FDIC.gov.

It takes just a few minutes to sign up, and then you’ll immediately start earning 5% interest on your savings. And when you open an account today, you’ll get an extra fifty-dollar bonus with a deposit of five hundred dollars or more. Visit Wealthfront.com/Tim to get started.


This episode is brought to you by Shopify! Shopify is one of my favorite platforms and one of my favorite companies. Shopify is designed for anyone to sell anywhere, giving entrepreneurs the resources once reserved for big business. In no time flat, you can have a great-looking online store that brings your ideas to life, and you can have the tools to manage your day-to-day and drive sales. No coding or design experience required.

Go to shopify.com/Tim to sign up for a one-dollar-per-month trial period. It’s a great deal for a great service, so I encourage you to check it out. Take your business to the next level today by visiting shopify.com/Tim.


What was your favorite quote or lesson from this episode? Please let me know in the comments.

Want to hear an episode with another Netflix founder? Listen to my conversation with Marc Randolph, in which we discussed changing communication style as a leader, split testing superpowers, what sets good entrepreneurs apart from mediocre ones, best and worst ideas, pushing back when countless people proclaimed Netflix’s business model would never work, and much more.

#496: Marc Randolph on Building Netflix, Battling Blockbuster, Negotiating with Amazon/Bezos, and Scraping the Barnacles Off the Hull

SELECTED LINKS FROM THE EPISODE

  • Connect with Reed Hastings:

Powder Mountain | Twitter | LinkedIn

SHOW NOTES

  • [06:34] Alfred Lee Loomis and Tuxedo Park.
  • [07:53] Risk tolerance: nature or nurture?
  • [10:56] Cultivating culture that “eats strategy for lunch.”
  • [15:41] The logic behind generous severance.
  • [17:02] Adapting to Pure chaos.
  • [18:44] Reference checking potential hires.
  • [20:29] Context vs. control.
  • [22:35] Radical candor.
  • [24:15] Guardrails for maintaining work/life balance.
  • [27:04] Farming for dissent.
  • [28:39] Believing in the green crystals.
  • [30:54] High-performance team, not family.
  • [31:59] The keeper test.
  • [32:49] Fire and replace, or replace and fire?
  • [33:59] Beyond Entrepreneurship and other recommended reading/viewing.
  • [37:46] A favorite failure.
  • [40:32] Outstanding leaders.
  • [41:10] Reed’s two “religions.”
  • [42:19] Powder Mountain.
  • [44:44] How Powder Mountain differs from Reed’s other projects.
  • [46:24] Powder Mountain’s biggest challenges ahead.
  • [47:02] Could Reed ever really retire?
  • [47:19] Best investments of time, energy, or money.
  • [48:49] How can we improve education in the US?
  • [52:48] What class would Reed teach?
  • [53:59] Juggling projects without losing focus.
  • [55:04] Philanthropy: Why Africa?
  • [55:32] Being “big-hearted champions who pick up the trash.”
  • [56:28] Reed’s billboard.
  • [58:01] Parting thoughts.

MORE REED HASTINGS QUOTES FROM THE INTERVIEW

“I’m in the camp that culture eats strategy for lunch. … How do you get human beings to work well together and accomplish amazing things? One of the aspects of that is being around other incredible performers.”
— Reed Hastings

“Customers would love to have everything for free. The challenge is to have great customer satisfaction and to charge them enough to have growing operating income. And that constraint is what makes business challenging, fun, and exciting.”
— Reed Hastings

“The few times I’ve done investing, I’ve lost my shirt. And I realize I’m just so optimistic. Anybody who seems to have a good idea, I’m like, ‘Sure!'”
— Reed Hastings

“Hope is everything.”
— Reed Hastings

PEOPLE MENTIONED

The post Reed Hastings, Co-Founder of Netflix — How to Cultivate High Performance, The Art of Farming for Dissent, Favorite Failures, and More (#730) appeared first on The Blog of Author Tim Ferriss.

  continue reading

282 episoder

Artwork
iconDel
 
Manage episode 410528194 series 1502715
Indhold leveret af The Tim Ferriss Show Archives - The Blog of Author Tim Ferriss. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af The Tim Ferriss Show Archives - The Blog of Author Tim Ferriss eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
Illustration via 99designs

“Hope is everything.”

— Reed Hastings

Reed Hastings (@reedhastings) became executive chairman of Netflix in 2023, after 25 years as CEO. He co-founded Netflix in 1997. In 1991, Reed founded Pure Software, which made tools for software developers. After a 1995 IPO and several acquisitions, Pure was acquired by Rational Software in 1997. Reed is an active educational philanthropist and served on the California State Board of Education from 2000 to 2004. He is currently on the board of several educational organizations including KIPP and Pahara. Reed is also a board member of City Fund and Bloomberg.
He received a BA from Bowdoin College in 1983 and an MS CS in artificial intelligence from Stanford University in 1988. Between Bowdoin and Stanford, Reed served in the Peace Corps as a high-school math teacher.

You can learn more about Powder Mountain at PowderMountain.com.
Please enjoy!

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Brought to you by Wealthfront high-yield savings account; AG1 all-in-one nutritional supplement; and Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business.

The transcript of this episode can be found here. Transcripts of all episodes can be found here.

#730: Reed Hastings, Co-Founder of Netflix — How to Cultivate High Performance, The Art of Farming for Dissent, Favorite Failures, and More

This episode is brought to you by AG1! I get asked all the time, “If you could use only one supplement, what would it be?” My answer is usually AG1, my all-in-one nutritional insurance. I recommended it in The 4-Hour Body in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG1 further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system.

Right now, you’ll get a 1-year supply of Vitamin D free with your first subscription purchase—a vital nutrient for a strong immune system and strong bones. Visit DrinkAG1.com/Tim to claim this special offer today and receive your 1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase! That’s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive daily, foundational nutrition supplement that supports whole-body health.


This episode is brought to you by Wealthfront! Wealthfront is an app that helps you save and invest your money. Right now, you can earn 5% APY—that’s the Annual Percentage Yield—with the Wealthfront Cash Account. That’s more than ten times more interest than if you left your money in a savings account at the average bank, according to FDIC.gov.

It takes just a few minutes to sign up, and then you’ll immediately start earning 5% interest on your savings. And when you open an account today, you’ll get an extra fifty-dollar bonus with a deposit of five hundred dollars or more. Visit Wealthfront.com/Tim to get started.


This episode is brought to you by Shopify! Shopify is one of my favorite platforms and one of my favorite companies. Shopify is designed for anyone to sell anywhere, giving entrepreneurs the resources once reserved for big business. In no time flat, you can have a great-looking online store that brings your ideas to life, and you can have the tools to manage your day-to-day and drive sales. No coding or design experience required.

Go to shopify.com/Tim to sign up for a one-dollar-per-month trial period. It’s a great deal for a great service, so I encourage you to check it out. Take your business to the next level today by visiting shopify.com/Tim.


What was your favorite quote or lesson from this episode? Please let me know in the comments.

Want to hear an episode with another Netflix founder? Listen to my conversation with Marc Randolph, in which we discussed changing communication style as a leader, split testing superpowers, what sets good entrepreneurs apart from mediocre ones, best and worst ideas, pushing back when countless people proclaimed Netflix’s business model would never work, and much more.

#496: Marc Randolph on Building Netflix, Battling Blockbuster, Negotiating with Amazon/Bezos, and Scraping the Barnacles Off the Hull

SELECTED LINKS FROM THE EPISODE

  • Connect with Reed Hastings:

Powder Mountain | Twitter | LinkedIn

SHOW NOTES

  • [06:34] Alfred Lee Loomis and Tuxedo Park.
  • [07:53] Risk tolerance: nature or nurture?
  • [10:56] Cultivating culture that “eats strategy for lunch.”
  • [15:41] The logic behind generous severance.
  • [17:02] Adapting to Pure chaos.
  • [18:44] Reference checking potential hires.
  • [20:29] Context vs. control.
  • [22:35] Radical candor.
  • [24:15] Guardrails for maintaining work/life balance.
  • [27:04] Farming for dissent.
  • [28:39] Believing in the green crystals.
  • [30:54] High-performance team, not family.
  • [31:59] The keeper test.
  • [32:49] Fire and replace, or replace and fire?
  • [33:59] Beyond Entrepreneurship and other recommended reading/viewing.
  • [37:46] A favorite failure.
  • [40:32] Outstanding leaders.
  • [41:10] Reed’s two “religions.”
  • [42:19] Powder Mountain.
  • [44:44] How Powder Mountain differs from Reed’s other projects.
  • [46:24] Powder Mountain’s biggest challenges ahead.
  • [47:02] Could Reed ever really retire?
  • [47:19] Best investments of time, energy, or money.
  • [48:49] How can we improve education in the US?
  • [52:48] What class would Reed teach?
  • [53:59] Juggling projects without losing focus.
  • [55:04] Philanthropy: Why Africa?
  • [55:32] Being “big-hearted champions who pick up the trash.”
  • [56:28] Reed’s billboard.
  • [58:01] Parting thoughts.

MORE REED HASTINGS QUOTES FROM THE INTERVIEW

“I’m in the camp that culture eats strategy for lunch. … How do you get human beings to work well together and accomplish amazing things? One of the aspects of that is being around other incredible performers.”
— Reed Hastings

“Customers would love to have everything for free. The challenge is to have great customer satisfaction and to charge them enough to have growing operating income. And that constraint is what makes business challenging, fun, and exciting.”
— Reed Hastings

“The few times I’ve done investing, I’ve lost my shirt. And I realize I’m just so optimistic. Anybody who seems to have a good idea, I’m like, ‘Sure!'”
— Reed Hastings

“Hope is everything.”
— Reed Hastings

PEOPLE MENTIONED

The post Reed Hastings, Co-Founder of Netflix — How to Cultivate High Performance, The Art of Farming for Dissent, Favorite Failures, and More (#730) appeared first on The Blog of Author Tim Ferriss.

  continue reading

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