Reed Hastings and Erin Meyer, No Rules Rules: Netflix and the Culture of Reinvention
The book highlights the fascinating story of Netflix and the approach followed by its co-founders. The workplace ensured high performance and top pay with total independence which led to the super success of the streaming giant.
Since its inception in 1997, Netflix now has 7,000 employees with successful TV shows and almost 150 million streaming customers. The firm was criticized for the harsh firing of its underperforming employees. But Hastings celebrates the culture at Netflix and says they emphasize innovation and creative success. They have hired the best creative talent at high pay and have removed controls to maintain innovation. The employees can make good decisions on their own and do not need approvals from higher-ups. The company culture doesn’t ask you to seek to please your boss to advance the company. Self-motivated and self-disciplined staff is a critical element. The book has conversations, sidebars, graphs, and charts, and some anecdotes too. The company culture of responsibility and freedom is most effective in creative companies like Netflix. They stress speed, innovation, and flexibility.
The book is self-congratulatory but it’s has a fascinating approach to storytelling that makes it an interesting read.