In 2011, we made the aggressive decision to separate our DVD and streaming services, which led to significant backlash and a drop in stock, teaching us the importance of balancing innovation with customer expectations.

Our primary responsibility at Netflix is to entertain our customers, and we take that very seriously, focusing on providing great entertainment rather than reflecting our values in every show.

Netflix can pre-cache content for known releases, while YouTube must adapt to constantly changing data and viewer preferences.

In the early days of the internet, we started AudioNet, the first streaming content company, which evolved into broadcast.com, the largest multimedia site at the time.

In 2005, it became common to see people huddled around laptops watching the latest viral videos, marking a dawning era of the internet, with videos like a Saturday Night Live clip and a Nike ad reaching a million views, while we also realized that YouTube was consuming a significant portion of the internet's bandwidth, a technical achievement that many didn't fully understand at the time.

During my 25 years at Netflix, the company was the dominant non-family aspect of my life, but now I have a more varied focus, including charter schools and philanthropic projects.

Inclusion at Netflix means ensuring everyone can contribute at their highest ability, which is in our commercial interest.

Back in 2005, when YouTube was founded by Steve Chen, Chad Hurley, and Jawed Karim, broadband was just emerging in the United States, and it wasn't clear that the internet could even support video, let alone at the massive scale we take for granted today. YouTube was a longshot idea, and initially, almost no one noticed it.

Investing in the internet was a strategic choice in 1994, as it was a growing field with significant potential, and that focus has continued to guide investments.