This article is a long-form profile of Netflix, covering its history, evolution, and current state. Here’s a summary:
Early Days
- Netflix was founded in 1997 as a DVD rental service by two entrepreneurs who saw an opportunity to provide customers with a more convenient way to rent movies.
- In the early 2000s, Netflix went public and began expanding its operations.
Self-Disruption
- By 2002, one of the co-founders felt he had gone as far as he could with Netflix, but Reed Hastings stayed on and continued to grow and evolve the company.
- In 2007, Netflix recognized that sending DVDs through the mail wouldn’t be the optimal viewing experience forever and began moving towards digital downloads and streaming.
Innovation
- Between 2007 and now, Netflix has continued to innovate, including:
- Pushing into original content in 2013 with "House of Cards," which was a hit.
- Experimenting with interactive content, like "Bandersnatch."
- Entering the mobile games market.
Challenges
- In the past year, Netflix has seen some waves of layoffs and a re-org of its original content studio, which is planning to make fewer but better original movies.
Conclusion
- The article concludes by noting that Netflix has a long history of being "absolutely brutal" to work for but also being laser-focused on building a better company at every step. It’s an interesting and thought-provoking piece that provides insight into the evolution and challenges faced by one of the world’s most influential media companies.
Let me know if you’d like me to summarize anything else!
