Venture capital funds dried up and Hastings was forced to lay off a third of his 120 employees, including many who worked hard and produced adequate work. Step 1: Hire and Keep Only the Best EmployeesĪ few years after Netflix’s 1998 launch, the company was hit with the repercussions of the 2001 dot-com crash. Through this book, Netflix CEO Reed Hastings tells the story of Netflix’s evolution and his logic in cultivating this kind of culture, while co-author and business professor Erin Meyer provides context for how these unusual business practices shaped the company’s success. These practices have created a company culture that focuses on empowering employees to innovate and take accountability, rather than conditioning them to simply follow protocol.
Today, Netflix produces award-winning content, it has more than 167 million subscribers across 190 countries, and it’s consistently listed among the best places to work. When Netflix launched in 1997, the company was basically a mail-order version of Blockbuster, the video rental store that dominated the home entertainment industry at the time. Keep reading for more about the No Rules Rules book by Reed Hastings. Author and Netflix CEO Reed Hastings discusses the often unconventional strategies that have been used to bring and maintain success for Netflix. The No Rules Rules book is the guide to how Netflix operates. What is the No Rules Rules book about? What does Reed Hastings share about the unconventional and unique business practices at Netflix? Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading.
This article is an excerpt from the Shortform book guide to "No Rules Rules" by Reed Hastings.
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