RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I made a $100 million bet on 'House of Cards' based on a partial script and casting, which was an instinct call without real data to support it.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

To be world-class at anything, whether it's sports, cooking, or business, you have to be maniacal, obsessive, and give a tremendous amount of energy.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

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.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I bought Powder Mountain not as a capitalist venture, but to save the mountain because I live there.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

At Powder Mountain, we've created a culture of big-hearted champions who care about performance and take responsibility, contrasting with the cutthroat perception of Netflix.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I believe in hiring people based on instinct and giving them a chance, rather than relying solely on the hiring process, which can be imperfect.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I find that having a meal with candidates and observing how they interact with service staff is one of the most telling aspects of their character.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

We rarely ask for references because they tend to be biased; instead, I look for intermediates who can provide honest insights about the candidate.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I treat severance packages as a management tool to ensure we keep the right talent at Netflix.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I think talent density isn't just about bringing in talent; it's also about removing people who are no longer suitable for their roles.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I use severance packages as a management tool to give managers permission to let go of employees, making it easier for everyone involved.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

We don't do performance improvement plans because they create a false sense of legal protection; instead, we prefer to offer generous severance packages.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

Processes can be the death of innovation, so I focus on adding processes that support creativity while removing those that stifle it.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

To prevent bureaucracy from creeping in, we eliminated rigid expense policies and adopted a freedom and responsibility approach.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

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

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I believe that customer satisfaction and operating income are the two core principles of business; everything else is just a tactic.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I placed a $100 million bet on House of Cards without watching the pilot because I trusted Ted Sarandos' instincts and the potential of the project.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

The decision to invest in House of Cards was based on instinct rather than concrete data; we had a partial script and casting, but no definitive metrics to predict its success.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

Creating content that resonates is often harder than acquiring existing hits, as the latter implies it has already been shown and tested.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

AI has the potential to revolutionize education by providing personalized tutoring, allowing each student to learn at their own pace, which is a significant shift from the traditional classroom model.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

In the future, AI could enable a complete K-12 and university education accessible via a phone or tablet, transforming how we learn.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

The role of teachers will evolve to focus more on social and emotional learning, as AI takes over instructional duties.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I believe that charter schools, which operate independently as nonprofits, can provide more flexible and effective education compared to government-run schools.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

I think technology, particularly AI, is the biggest driver of increasing equality of opportunity in education, making quality learning accessible to all.

RH

Reed Hastings

06/10/25

@ The Knowledge Project Podcast

Success for me is having a positive impact on others, whether through business, nonprofits, or government service.

Netflix Founder: The Hidden Rules Behind Success | Reed Hastings

Takeaways