Netflix is said to have exceeded 300 million

1. Netflix is said to have exceeded 300 million paid subscribers. As a result, Netflix became the first service in human history to have more than 300 million paid subscribers,

2. The most ideal transfer of power is currently taking place on Netflix, given that its founder, Reed Hastings, stepped down as CEO at a time when growth has slowed since the pandemic, and has regained growth since the founder stepped down.

3. Of course, Reed Hastings is still the chairman of the board, and Ted Sarandos and Greg Peters' co-representative system has just been completed, so we have to watch the situation more closely, but isn't it common for a founder to grow more explosive after he steps down to a second term?

4. There are many reasons for this, including the introduction of an advertising pricing plan, but one of the things that cannot be left out is Netflix's unique organizational culture and system.

5. In particular, Reed Hastings, who experienced many failures and trials and errors during his tenure as CEO, thought that leaders should deliberately receive counter-feedback from members because they were not perfect,

6. Employees who did not argue with the leader were told that they were doing nothing more than abandoning their duties. So, Reed Hastings periodically asked top executives, "If you were in charge of the company, what part of the company do you think you should change now?"

7. He asked top executives "what I'm doing wrong as CEO now and what I need to change for the company," and not only reflected on himself through this, but also determined who is suitable as a successor to replace him.

8. In fact, Reed Hastings, who thought the introduction of an ad-free subscription model was the number one contributor to Netflix's success, continued to ignore the internal opinion that "ad pricing plan should be introduced before growth slows down."

9. After the first reverse growth in paid subscribers in Netflix's history since the pandemic, Reed Hastings frankly admitted and confessed to his misjudgment, said it was time for him to step down as CEO after opposing the introduction of an advertising pricing plan, and stepped down from management after putting Greg Peters as a common representative.

10. How surprising is this? That the founder admits to his misjudgment and leaves after handing over a position to a talent who will lead the company better than him.

11. Since then, Netflix has seen explosive growth again, becoming the first service in history to hit the 300 million mark on paid subscribers, and Netflix's stock price has also hit a new high.

12. There was once a time when Disney and Netflix's market cap were similar, but now Netflix's corporate value is more than twice that of Disney.

13. In addition, Netflix continues to widen this gap with a new leadership regime called Ted Sarandos-Greg Peters, and Disney is struggling with Bob Iger coming back from the CEO?

14. It's a hasty conclusion, but isn't Netflix's system much better at cultivating new leaders for now? Disney has been unable to find a character since Bob Iger.

15. And isn't a new leader made when an existing leader makes every effort to embrace dissent and have someone around who has a better opinion than him? No, maybe a new history isn't about getting stuck in one's thoughts after all, but when a leader moves to find a better opinion. Anyway, fighting! 😉

#Today's random words