Netflix famously hires based on talent density, believing that when talented people are brought together, they will create unimaginable systems, infrastructure, and ideas. This approach allows the company to pull back on some controls, like PTO policies and expense reporting, and trust that their talented employees will act responsibly.
Reed Hastings, the founder of Netflix, changed the business model from perpetual to subscription license, which led to its success. The mistake people make is iterating on the "what" instead of the "who" and "how" of a business model.
Former DreamWorks CEO Jeffrey Katzenberg has raised $2 billion pre-launch for his new startup, Quibi, which will focus on short, 10-minute videos. The success of streaming services like Netflix has made this a good time to start a production studio like Quibi.
In this podcast, Brandon Riegg discusses the importance of giving creative freedom to professionals. He also shares his fear of losing integrity and becoming a status quo like Netflix.
The diminishing returns of Netflix are hitting hard as their monitored regime leads to employee unrest, with the company's excessive returns on the verge of getting competed away due to their lack of innovation, which hasn't secured a lock-in value.
The co-founder of a rental company discusses their decision to walk away from 98% of their revenue in order to focus on solving a bigger problem, and the importance of being willing to take risks in order to achieve success.