Ever wonder how Netflix became the giant it is today?

In this episode, we are chatting with Marc Randolph, co-founder and first CEO of Netflix. Marc is a veteran Silicon Valley entrepreneur, advisor, and investor. As founding CEO of Netflix, he laid much of the groundwork for a service that’s grown to 150 million subscribers and fundamentally altered how the world experiences media.

Marc’s career as an entrepreneur spans four decades. He’s founded or co-founded six other successful startups, mentored hundreds of early-stage entrepreneurs, and as an investor has helped seed dozens of successful tech ventures. Most recently, he co-founded analytics software company Looker Data Sciences, where he now serves as director. Outside of the tech and startup world, Marc sits on numerous other company boards and is an outdoors enthusiast.

In this episode, we discuss how Marc started his career, his wilderness experiences that shaped his leadership style, and the importance of experimentation. We’ll also talk about why there’s no such thing as a ‘perfect’ idea, how Netflix rose to dominance, and Marc’s perspective on the importance of culture. 

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Check out our website to meet the team, view show notes and transcripts: www.youngandprofiting.com

Timestamps:

00:51 - Marc’s Childhood 

03:51 - How a Wilderness Organization Shaped Marc

8:25 - Marc’s Advice for Recent Graduates and The Beginnings of His Career

14:35 - The Importance of Experimentation 

17: 25 - Why There’s No “Perfect” Idea

20:58 - Marc’s Experience with Panhandling 

28:46 - Netflix’s Pitch To Blockbuster and What Went Wrong 

34:08 - How Blockbuster Was Disruptable and How Netflix Won

38:38 - The Hardest Situation in Marc’s Career

41:40 - Why Marc Doesn’t Like Performance Plans

44:12 - How Netflix’s Culture Developed

52:34 - Marc’s Secret to Profiting in Life

Mentioned in the Episode:

Marc’s Website: https://marcrandolph.com/

Marc’s Podcast: https://marcrandolph.com/podcasts/

Marc’s Book, That Will Never Work: https://marcrandolph.com/the-book/