1/ 7 Aspects of Netflix's Culture
- Let's go through each one and I'll summarize the most important parts
- Let's go through each one and I'll summarize the most important parts
2/ Actions speak louder than words
3/ Aspect #1 - "Values are what we value"
9 company values for promotion
- Judgment
- Communication
- Impact
- Curiosity
- Innovation
- Courage
- Passion
- Honesty
- Selflessness
9 company values for promotion
- Judgment
- Communication
- Impact
- Curiosity
- Innovation
- Courage
- Passion
- Honesty
- Selflessness
4/ Aspect #2 - "High Performance"
The keeper test for managers - "who would I fight hard to keep at Netflix?" Otherwise, give them a generous severance and get a superstar
The keeper test for managers - "who would I fight hard to keep at Netflix?" Otherwise, give them a generous severance and get a superstar
5/ Very results-focused
6/ 10x employees
7/ Aspect #3 - "Freedom and Responsibility"
The bigger a company gets, the more processes it has and shrinks talent density
Peter Principle: the tendency in most companies for every employee to rise until they reach a level of respective incompetence
The bigger a company gets, the more processes it has and shrinks talent density
Peter Principle: the tendency in most companies for every employee to rise until they reach a level of respective incompetence
8/ How to combat this?
Focus more on the quality of the people than the processes
Focus more on the quality of the people than the processes
9/ Examples of good processes
- No vacation policy but leaders are encouraged to actually take vacation.
- Expensing policy: "act in Netflix's best interest"
- No vacation policy but leaders are encouraged to actually take vacation.
- Expensing policy: "act in Netflix's best interest"
10/ Aspect #4 - "Context, not control"
11/ "If you want to build a ship, don't drum up the people to gather wood and give out orders. Instead, teach them to yearn for the vast and endless sea."
12/ Aspect #5 - "Highly aligned, loosely coupled"
Three models:
1. Monolith (top-down decisions)
2. Silos (no coordination)
3. Highly aligned, loosely coupled
Three models:
1. Monolith (top-down decisions)
2. Silos (no coordination)
3. Highly aligned, loosely coupled
13/ Get the "why" right and the tactics matter less, especially if you have 10x employees
14/ Aspect #6 - "Pay Top of Market"
15/ If employees are always getting paid at the top of the market, there's no ambiguity/frustration.
16/ This is interesting. The focus is so much on getting superstars that a bonus isn't necessarily required.
The bonus is the stock that employees can choose and it's a self-inforcing loop for retaining only the best.
The bonus is the stock that employees can choose and it's a self-inforcing loop for retaining only the best.
17/ Aspect #7 - "Promotions and Development"
End/ So those are the 7 aspects of Netflix's culture
In summary:
- find the best people you can and pay them top of market
- if they aren't producing, give them a generous severance
- set context and trust people a lot
In summary:
- find the best people you can and pay them top of market
- if they aren't producing, give them a generous severance
- set context and trust people a lot
