Why could Netflix repeatedly adapt, and Blockbuster couldn’t? The latter had the brand, the power, the resources, and the vision. They had pivoted from the DVD rental business, to become an internet streaming service with 167 million subscribers in 190 countries. On the other hand, 2019 was a significant year for Netflix. Their film Roma had won three Oscars. By 2010, Blockbuster declared bankruptcy and by 2019, only a single store remained. In 2002-two years after the meeting-Reed took the company public. They sat around the table and heard the offer of 50 million from Blockbuster. That year alone, the losses were 57 million, but they were eager to make a deal. Their 2-year-old startup, which lets people order DVDs on a website and receive them through the US postal service, only had 100 employees and 300,000 subscribers and was off to a rocky start. In early 2000, Netflix tried to sell themselves to Blockbuster, a company that was 1,000 times their size. No Rules Rules is an overview of how Netflix co-founder and CEO Reed Hastings built a culture that focused on freedom and responsibility. Tapping into Netflix’s work culture, No Rules Rules explains the philosophy behind one of the world’s most successful companies.
0 Comments
Leave a Reply. |