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Zusammenfassung von No Rules Rules

Name: No Rules Rules
Rating: 4.6 (399 reviews)
Author: Reed Hastings and Erin Meyer

Reed Hastings and Erin Meyer

Netflix and the Culture of Reinvention

4.6 (399 Bewertungen)

22 Min.

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Arbeitskultur Erfolg Führung Gründergeschichten Start-Ups Entscheidungsfindung

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No Rules Rules
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What’s in it for me? Get an inside look at Netflix’s revolutionary company culture.

With its 183 million subscribers worldwide, Netflix has become a touchstone of modern culture. Having started off 20 years ago as a DVD-by-mail service, it streams Oscar-winning movies. Movies like Roma and The Irishman that the company itself produces.

But Netflix isn’t successful because of streaming. It’s successful because the company was founded on a culture that allows it to nimbly pivot wherever it needs to go. Indeed, millions have studied Netflix’s 127-slide Culture Deck, hailed by Facebook COO Sheryl Sandberg as perhaps the single most important document to have come out of Silicon Valley.

In these blinks, we take a deep dive into the Netflix culture, understanding its key components – and how you can apply them to make your company more efficient.

In these blinks, you’ll learn

why rock-star salaries are critical to Netflix’s success;
how one embarrassing moment taught co-author Erin Meyer a critical lesson; and
the reasoning behind Netflix’s no-policy vacation policy.

Netflix has been successful because of its unique company culture.

It was the year 2000. Reed Hastings, co-founder of Netflix, was in Dallas, Texas. He was shaking in his boots as he waited to meet with the CEO of Blockbuster, a giant company worth $6 billion, which boasted 9,000 stores all over the world. It was 1,000 times the size of Netflix, Hastings’s scrappy young start-up.

Hastings and his partner made a pitch to the CEO – buy Netflix for $50 million and let them run Blockbuster’s website as an online video rental service. The CEO flatly refused.

This proved to be a mistake. Ten years later, Blockbuster filed for bankruptcy because it couldn’t keep up with Netflix, which by then had 167 million worldwide subscribers and was producing its own award-winning films and TV shows.

How was Netflix able to nimbly pivot, succeeding where the behemoth Blockbuster failed? That’s easy.

The key message here is: Netflix has been successful because of its unique company culture.

The Netflix culture values people, prioritizes innovation, and has few control mechanisms.

With this as a foundation, Netflix has built immense value, growing 300 times faster than the NASDAQ stock index over 17 years. What’s more, a 2018 survey rated it the top place to work in Silicon Valley.

Perhaps most impressively, it’s responded nimbly to four seismic industry shifts. Netflix started out as a DVD-by-mail subscription service, then transitioned to streaming. From there, Netflix began licensing original content produced by other studios, and finally, it began producing its own in-house movies and TV shows.

Hastings believes that all this stems from the fact that at Netflix, his employees enjoy more freedom than any other company he knows of. That freedom inspires them to make better decisions. It also makes it easier to hold them accountable.

But you can’t just set your employees free and expect your business to automatically do as well as Netflix. True freedom comes from careful planning. Three things are necessary to unlock the potential of radical employee freedom and the responsibility that comes with it. First, high talent density. Next, high levels of candor between employees and managers. And finally, the courage to remove controls which waste everyone’s time – and company money.

In these blinks, you’ll learn more about each of these three mechanisms. On the way, you’ll also hear Netflix’s start-up fairy-tale story, and how one plucky company became one of the most recognized words in the world.

High talent density encourages employees to perform at their very best.

Hastings’s first eureka moment sprang from one of his lowest points as a CEO.

Netflix launched in 1998 and was doing pretty well. After three years, it had 400,000 subscribers. But while Hastings had learned some lessons from his previous company about running a start-up, he freely admits that Netflix wasn’t a great place to work.

Radical candor helps Netflix employees improve, even if it can be difficult to hear.

When co-author and INSEAD professor Erin Meyer began consulting for Netflix, she was in for a nasty shock. Her very first job with Netflix was to deliver a keynote conference address to 400 managers from around the world. Halfway through, she divided the attendees into discussion groups.

As she observed, one woman beckoned her over and told her, in front of everyone, that the way Meyer was fielding answers from the international audience was undermining her message about cultural diversity. Meyer had been choosing people who raised their hands to answer her questions, which had an unintended result: only Americans got a chance to answer. She hadn’t taken into account that hand-raising might not be as common in other countries.

Getting rid of useless policies made Netflix employees more accountable.

When employees feel comfortable speaking up when things don’t make sense, amazing things happen.

For example, in 2003, an employee pointed out that the company wasn’t tracking how many hours or days people worked, so why should it track how many days they took off? Good point, thought Hastings. So he abolished the official vacation policy. Since then, Netflix guidance regarding vacations has been: Take some!

Maintaining a talent-dense team requires a lot of intense effort.

The end of 2018 was pretty great for Netflix. The Netflix-produced film Roma had been released and hailed as a “masterpiece” by the New York Times. Bird Box had also been released, and within a week over 45 million households with Netflix accounts had watched it, the best first week ever for a Netflix original.

When Hastings called up Ted Sarandos, Netflix’s Chief Content Officer, to congratulate him, Sarandos said, “We’ve all picked well!” Hastings picked Sarandos, who then picked the best people, who then picked those excellent films to produce. As we learned earlier, this is what talent density is all about.

At talent-dense organizations, dispersed decision-making is most efficient.

Adam Del Deo, the Netflix employee in charge of original documentary programming, was at the Sundance Film Festival in 2017 when he saw something so great it made him feel sick. The sports documentary Icarus was one of the greatest films he’d ever seen, and he wanted to buy it for Netflix. He felt sick because he would have to pay an incredible, unprecedented amount of money to obtain the film – as much as $4 million. Would his boss, Chief Content Officer Ted Sarandos, ever sign off on such a thing?

But when Del Deo asked his boss, Sarandos didn’t say yes or no. Instead, he set broad context and encouraged Del Deo to make the decision himself. “You’re the doc guy, not me,” Sarandos said. “We pay you to make those decisions. But ask yourself if it’s the one. Is this going to be a massive hit?”

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Worum geht es in No Rules Rules?

No Rules Rules (2020) sets out the principles of Netflix’s unique company culture, based on employee freedom and responsibility, and optimized for maximum innovation. In doing so, it charts the incredible journey of Netflix, a start-up fairytale.

Wer No Rules Rules lesen sollte

Anyone who works at a start-up
Fans of the film The Social Network
Those who are wary of Silicon Valley’s increasing dominance

Über den Autor

Reed Hastings is the cofounder and co-CEO of Netflix, as well as a software developer. Erin Meyer is a professor at INSEAD and the author of The Culture Map, in which she shows how to successfully do business across international borders.

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