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I got the idea for Netflix after my company was acquired. I had a big late fee for Apollo 13. It was six weeks late and I owed the video store $40. I had misplaced the cassette. It was all my fault.

Reed Hastings

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Reed Hastings
Age: 64
Born: 1960
Born: January 1
Chief Executive Officer
Entrepreneur
NZ
Wilmot Reed Hastings
Jr.
Late
Acquired
Week
Store
Company
Fault
Cassette
Bigs
Weeks
Cassettes
Idea
Stores
Owed
Ideas
Video
Misplaced
Faults
Fees
Six
Apollo

More quotes by Reed Hastings

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I hate the photo shoots. I hate all that stuff.
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Interactivity and a better experience aren't always the same thing.
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Stone Age. Bronze Age. Iron Age. We define entire epics of humanity by the technology they use.
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I watch mostly independent films.
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The best managers figure out how to get great outcomes by setting the appropriate context, rather than by trying to control their people.
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Comparing Apple to Netflix is like comparing apples to oranges, especially if the oranges made so many mistakes that people stopped eating oranges and just went back to Blockbuster.
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When we think about online learning, it's such 'early days.' Bill Gates is a wildly smart insightful guy. Yet, even a guy as smart and insightful as that, 30 years ago can say things like,'Who's every going to need more than 640K of memory?'
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The Costa Rican government is prioritizing laying fiber optic over paving roads. Costa Rica is trying to become one of the Internet societies. This is happening throughout the world.
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The Netflix brand for TV shows is really all about binge viewing. The ability to get hooked and watch episode after episode.
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Not every show has to work equally well. It just has to work better than any competitor because then we can outbid for the content.
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If you look at cable networks, they almost always start licensing content wherever they can, so they can build a subscriber base. But then they start doing their own content it's a pretty well-trodden path.
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Be big, fast and flexible.
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Most entrepreneurial ideas will sound crazy, stupid and uneconomic, and then they’ll turn out to be right.
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I think there will be 20 years of evolution from linear broadcast to internet television.
Reed Hastings
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On the Internet you get continuous innovation, so every year the streams are a little better.
Reed Hastings
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When there's an ache, you want to be like aspirin, not vitamins. Aspirin solves a very particular problem someone has, whereas vitamins are a general nice to have market.
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It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs.
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Truly brilliant marketing happens when you take something most people think of as a weakness and reposition it so people think of it as a strength.
Reed Hastings
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In the long term, you have to believe that movies and TV shows will be like the opera and the novel, pretty nichey businesses.
Reed Hastings
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Do not tolerate brilliant jerks. The cost to teamwork is too high.
Reed Hastings