Netflix

“When Netflix came out, they didn't say we are a better version of Blockbuster. Instead, they said we deliver media to your home.”

“The only way to build really big subscription businesses, Netflix or internet internet access companies is to have very large market demand. So you have to sell into very large markets as opposed to niches.”

“On the thousands and thousands of people that have adopted the single-use case version of Amy, I never talked to the New York Times, or Netflix, or Amazon, or Salesforce, but those companies, they just have employees in pain, and since there's no integration, …”

“There's no network effect to Netflix. There's no network effect to Google. There's no network effect to a lot of the, to Apple products, but you love them, and if you love them, you're going to tell all of your friends about them, and that's what defines viral…”

“I think that venture capital is going to go the way of past financiers of creative mediums where usually you have, you know, the early folks end up being pretty comfy execs because they took a risk on the industry and on early creatives when there weren't too …”

“Netflix mentioned Fortnite in a recent earnings call as, you know, being a potential competitor, right?”

“These weren't just values that were thrown up on a wall or mentioned it in all hands once or twice. They really embodied what it was like to work there.”

“Kind of the example that I use, the parallel example, is Reed Hastings when he switched the business from CDs to streaming, which, or DVDs to streaming, sorry. You know, he had no streaming revenue, and, you know, the DVD business was, not only was the entire …”

“So Facebook, obviously, network economies. Apple is, they're a variety. Brand switching costs, scale. Amazon is primarily scale. Netflix is primarily scale. Google is probably network economies.”

“For Netflix, on the other hand, if they go into another market, if there is sharing across markets, and I suspect there is, say you go into India and the Indian audience likes, say, 20% of your catalog in the U.S. Is something that Indians like to watch. That'…”

“I hope that venture funding becomes less of a closed circle, and actually that these networks become less important, and that access to this life-changing financial tool is democratized for many more people who didn't have the incredible luck That Jana and I h…”

“People are willing to pay more to subscribe to one writer on Substack than they'll pay for, like, Netflix, because this sort of relationship that they've built up over time reading somebody has so much value to them.”

“At the end, around 16 and 17, I got a new management team in place. Niklas had left, and the marriage quarrel were gone. And so we were finally able to sit down seriously and talk through how do we think we create a culture and a setup that works. And we decid…”

“I remember when Netflix was actually going down after After the dot-com bust, we were running out of money, even though we were going, we're doubling every year, but the world is in meltdown. You couldn't get capital from anybody. And he stepped up in a moment…”

“90% of what Blockbuster rents is new release. 30% of what Netflix rents Disney release and 70% is catalog.”

“As I've said to our employee base here, and as we said to the employees at Netflix, we are not a family. We are a professional sports team, and you will want to work here because you will be afforded the opportunity to work with some of the most talented peopl…”

“Well, his original vision was to be retired and to fund the company and be its chairman. And the performance kind of got sideways and he came in off the sidelines. And replace Mark Randolph as a CEO.”

“And then eventually we found product market fit as a subscription model, as it turned out, not as an a la carte business. And once we stumbled into the subscription model, the business literally started doubling each year. And for gosh, five or six years, it j…”

“In this particular quarter, we had, I don't know, 30 or fifty million dollars to spend. And Reed Really wanted Ted to invest it in, in in feature film content, and which Ted thought was a really stupid idea and argued about it for weeks, and finally, you know,…”

“Daniel was using my pattern recognition skills as exceptional in his own way as Reed was exceptional in his way. Kind of, you know, one in twenty-five million.”

“It was great idea. It was about two decades too soon. And that Netflix ended up doing it after, but”

“We've Kind of dramatically changed our approach to content and not to slander either of these two companies. It's just two different strategies. Moving more from the Netflix approach to the HBO approach”

“Our biggest customers would sign up with us, like, customers like Netflix, Heineken, Adobe, sign with us on these times where people were not traveling because, again, change management, The easy thing to do at that time.”

“So we took about a billion dollar position in Netflix after the stock fell about 50%. And then, you know, we're a long term investor, but we learned information within a few months of the initial investment, i.e. The next quarter's results at Colt, caused us t…”

“So in web two, if you take the top three clouds and you look at their market cap, so AWS, GCP, and Azure, it's about a 2.1 trillion dollar market cap just for the cloud businesses. And then if you take the top 100 publicly traded cloud companies, both on B to …”

“Sometimes I've placed more weight than I should have on this stellar linked list of awesome brands that you worked at. I did X at, let's just name random companies for the sake of it. Apple, Google, Amazon Netflix. And you look at that and you're like, well, f…”

“One of our very interesting stats I've noticed more recently was, so in the US, more hours are consumed of YouTube on connected TVs than Netflix.”

“There was some insinuation that Netflix was a customer. They were not. There was zero customers when I showed up.”

“So in web two, if you take the top three clouds and you look at their market cap, so AWS, GCP, and Azure, It's about a 2.1 trillion dollar market cap just for the cloud businesses. And then if you take the top 100 publicly traded cloud companies, both on B to …”

“If you remember Blockbuster, right. First, I mean, let's look at the history of that. You're exactly right. First, we used to drive to Blockbuster to get a DVD, right, or a video. Then Netflix was mailing them to us, right? And then we got broadband. And there…”

“ChatGPT is the fastest, even though Sam Lesson said he's not sure it's important, it's the fastest Gain of users in, in the history of the world. Zero to eight hundred million in 17 months. Okay. That's, it took Netflix 15 times longer. It took TikTok five tim…”

“It's right up there with the top consumer subscription companies in the world. I mean, it's comparable to Netflix, Spotify.”

“It's monopsony power, right? If Netflix becomes the biggest single buyer of content, Then if you're making content, which is what Hollywood does, making, right, you have to sell to, you know, the media buyer for Netflix becomes the most important person in you…”

“And as of the last 45 days, you can watch an incredible short on YouTube that was entirely AI generated where you can watch Star Wars stories that are better than the crappy last three movies that are AI generated. That's utterly disruptive to Netflix.”