It cost Netflix about $60 million a season to create the popular political drama House of Cards. Yet it took just 30 minutes for Reed Hastings, the CEO of the popular streaming service, to authorise the show. The pace at which things are done comes down to staff having a high degree of autonomy in making decisions. He admits that sometimes entire quarters pass by without him making any decisions, empowering employees to take charge.
So far, his faith in the ability of employees to make the best decisions has paid off. Netflix’s estimated worth sits at around $150 billion, ranks high in employee satisfaction, and is well- positioned to keep its status as one of the main sources of entertainment for millions of people across the globe. This week, we look at unique CEO Reed Hastings and draw motivation from his top quotes which we hope can inspire!
“Most entrepreneurial ideas will sound crazy, stupid and uneconomic, and then they'll turn out to be right.”
“Stone Age. Bronze Age. Iron Age. We define entire epics of humanity by the technology they use.”
“Taking smart risks can be very gratifying”
“Companies rarely die from moving too fast, and they frequently die from moving too slowly”
“Great leaders, like Steve Jobs or Jeff Bezos, also focused on the long term”
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Robbie Duncanson and the Pendleton team!