Rum and then trust your kid s judgment neither alternative made sense when our kids were young we simply had serious conversations about responsible driving and the risks of driving while impaired then we added if for any reason you feel you are ven slightly impaired to drive from a party call us and we will come and get you no The Real Witches Kitchen excuses no sorriness That seems like a better implementation of freedom and responsibility than the options offered But there is a good discussion about how to create the culturalxpectations in a multinational companySecond until the final chapter Hastings seems to imply that rules based business is on the way out To counter that the last chapter is worth the book it suggests that in places where there is standardization rules based systems make a lot of sense but in creative businesses or in businesses in uncertain nvironments they may make less sense That is a point made by Aaron Wildavsky in his classic on bureaucracy What the book also prompts in me is the thought after this year there
may be a higher fraction of businesses that need to think about modifications of rules based systems Little different than what be a higher fraction of businesses that need to think about modifications of rules based systems Little different than what about modifications of rules based systems Little different than what xpected because last month I read That will never work by another netflix founder More about Netflix s principles rather than it s journey It discusses about various Netflix s cultural aspects which significantly differ from conventional systems followed by majority of organizations 21st century organizations need to O Testamento evolve from industrial age management styles Chapters like leading with context open the books and no decision making approvals does seems bold but are definitely desirable changes Erin mayer should have structured the book inngaging and innovative way rather than sticking to regular business book style narrationAnother area which disappointed me is the lack of details about how they deal with competition partners and customers Discussion about competitors and customers is almost zero It would have been attractive if they added actual incidents about challanges they faced in their journey Unsurprisingly it was worth waiting forFirst hand message culture focused very straightforward Gangbang Slut even for valuesprinciples that are controversial and unobviousTo be honest this is NOT a hand book Many of concepts here did apply in Netflix but for serveral reasons won Finished reading the newly published No Rules Rules Netflix and the Culture of Reinvention by Netflix Co founder Reed Hastings and Professor Erin Meyer the author of The Culture Map yesterday I pre ordered this book last month in anticipation and started listening as soon as it was available in Audible This book narrates a fascinating view of the Silicon Valley giant Netflix s radical corporate psychology and culture I got my share of shocks when I first read Netflix Culture Deck a few years ago for the first time the document that was claimed by Facebook COO Sheryl Sandberg as probably the most important documentver to come out of Silicon Valley Before being hired by an x Netflix leader at Mareta Manish Pandit I worked at Roku for one and half years which was a spin off from Netflix There a big chunk of my team mates I worked day to day were FROM NETFLIX INCLUDING MY HIRING MANAGERS SHOBANA RADHAKRISHNAN KEN Netflix including my hiring managers Shobana Radhakrishnan Ken Hence Roku not only shared the same building with Netflix but the culture and principles to a good xtent For Defying Shadows (Rising Shadows example Reed Hastings touch based on a story in this book where anmployee got an offer lot than what heshe asked In reality this happened to me while I joined Roku So I know that The Great Orange Leonard Scandal (Tall Tales Series; 4) each of the stories told is not only real but very freuent or common practice as a matter of fact A few monthsarlier I read Netflix s other Co founder and first CEO Marc Randolph s That Will Never Work That was about insights of the initial formation of Netflix as a viable business which was amazing on its own But in No Rules Rules Hastings tries to share the unfolding of some of the most controversial and bold moves on how Netflix makes decisions on how to hire build compete fire and Tangled Webs (The Black Jewels, expand Unless we know how successful Netflix as a business is most of these counterintuitive rules would be frowned upon andven now it does by any reasonable person As of now Netflix is worth 220 Billion USD market cap with 8600 A Fairly Honourable Defeat employees serving 193 million paid users including 73 million in USA in 190 countries Let it sink in first before you think what do they know In this book Hastings talks about Netflix s culture of Freedom and Responsibility The idea is to optimize for innovations via risk taking instead ofrror prevention These items slowly and organically got implanted by Hastings in Netflix s DNA I don t think it s asy to replicate it Also it has to be handled in a holistic manner the attributes below support ach other For Elisabeth Shue 135 Success Facts - Everything You Need to Know about Elisabeth Shue example you can t have No Decision Making Approvals Needed without The Keeper Test which in turn you can t do without top of the market pay No Vacation Policy Employees decide when how long how many days a week they Hed from the very beginning Hastings rejected the conventional wisdom under which other companies operate and defied tradition to instead build a culture focused on freedom and responsibility one that has allowed Netflix to adapt and innovate as the needs of its members and the world have simultaneously transformedHastings set new standards valuing people over processmphasizing innovation over The Man Without a Face efficiency and givingmployees context not controls At Netflix there are no vacation or xpense policies At Netflix adeuate performance gets a generous severance and hard work is irrel vant At Netflix you don't try to please your boss you give candid feedback instead At Netflix Gone (Gone, employees don't need approval and the company pays top of market When Hastings and his team first devised these unorthodox prin. Just read it You ll most likely have your perspectivenriched Threads Of The Shroud even if you re not part of an organization that can or will adopt the culture It s a great book that should be read by literallyveryone from CEOs to managers to individual contributors no matter the business area because it speaks to growth and mindset Whenever you ll say to yourself No way that can work you will be proven that it can work indeed This wasn t on my list until my friend recommended it He recommended because I was trying to solve one problem and I wasn t finding any tangible solution And this book All Seated on the Ground exactly helped me to do that Coming to the book the policies of Netflix and thinking of Reed hastings is as unconventional as it could be Let s see some of the policies1 Netflix doesn t pay increments to itsmployees as per the Pyramid pattern If the market demand for the skill has increased it will always increase the salary higher than the top paymaster2 It doesn t have any travel or leaves policy The Untitled. employees have the freedom to choose3 If you perform adeuately throughout you are not given a 3 Rating meetsxpectations or a 2 Rating Wiring exceedsxpectations You are given a generous severance package and asked to leave 4 You have to dazzle with your performance or are out There is no middle way5 There is no Against All Odds expense or approval policy though there is an audit policy6 They share their uarterly tomployees before publishing it This is a strict NO NO in any region7 If any Jingling Daddys Bells BDSM Menage employee has been fired because of a professional reasonperformance it is being informed to staff in the candid fashion and NOT in a sugar coated fashion These and a lot of such things make NETFLIX innovative and probably the reason why it makes up the acronym FAANG If there are no approval policies andmployees are allowed to decide what they want to do why isn t there chaos How can a system be in place The process was at the heart of the success of GE another most successful company of its time What changed then For that I will recommend you read Reed s mind through this book Books on culture usually come with a big yellow hazard sign for me because they always sound too idealistic and philosophical and so I actively avoid them This is a different one No rules rules so refreshingly paints the clear set of choices that Netflix has made when defining its culture as well as the set of trade offs that come with it Case in point the idea that a company is like a professional sports team not a family For The DOS every successful story on its culture there s a story where it didn t work but lessons were learned and the culturevolved And this book sunshines it all There are definitely parts of its culture that I was yearning to learn about Against All Odds eg how do you actually define adeuate performance and how do youmbed verything you ve just told
*us in your hiring process but overall highly highly recommend this read if you re interested in why companies *in your hiring process but overall highly highly recommend this read if you re interested in why companies to obsess about culture and if you want to uestion the one you operate in yourself I really njoyed the read and am still a full supporter of what s in here The only reason I gave 4 instead of 5 stars is because if you are already familiar with Netflix culture through the culture deckmemo and have given it a lot of thoughtreflection most of the content is just a digestible re telling re organizing of Treasons, Stratagems, And Spoils existing insights andxamples for those new to it The international aspect might be A Bit New To Those bit new to those have followed Netflix culture from the out I have a son in law who works for Netflix so I was interested in reading about how Netflix is different In 10 chapters you get a good idea of how they work It is hard to criticize the adaptability of the company and its continued successes The premise of the management style in the company is freedom and responsibility And Hastings and his collaborator offer a good Payment Due explanation of why they are different The rationales work uite well forxample their hiring philosophy hire the best and the compensation philosophy Pay at the top of the filed and offer generous severances for those who don
T Measure Up Makes measure up makes lot of senseI was concerned about two aspects of the philosophy First their theory on criticism could possibly be compared to the social confessions in totalitarian regimes but as they Vampireville (Vampire Kisses, explain they have worked hard on making the process a part of the culture with the 5 As You will have to read the book to get those gems and they are gems Those seem like good limitations Still the meeting structures in the company are in on sense a set of rules they create clear structures andxpectations that would not be present in many other businessesThe book spends a lot of time on building responsibility and IMHO they use a couple of silly Pirate of the Pacific (Doc Savage, examples One that struck me was how to deal with allowing your teenager to go to a party the first option call the parents of the host jabber at your darling about thevils of demon rum and set other limits or the second alternative which is the do a You tube video on the The Rich and the Profane (Lovejoy, evils of Demon. Longlisted for the 2020 Financial Times McKinsey Business Book of the Year Netflix cofounder Reed Hastings reveals for the first time the unorthodox culture behind one of the world's most innovative imaginative and successful companies There has never before been a company like Netflix It has led nothing short of a revolution in thentertainment industries generating billions of dollars in annual revenue while capturing the imaginations of hundreds of millions of people in over 190 countries But to reach these great heights Netflix which launched in 1998 as an online DVD rental service has had to reinvent itself over and over again This type of unprecedented flexibility would have been impossible without the counterintuitive and radical management principles that cofounder Reed Hastings stablis. .
Ork or take vacations Hard work is not at Netflix only the work that brings results andor learnings No Expense Management Policy Whether appreciated at only the work that brings results andor learnings No Expense Management Policy Whether fly by first class or conomy it s their own judgment Employees are supposed to work in the best interest of Netflix If any audit finds something that is done in a uestionable spirit the person in uestion will be immediately terminated so second chance No Decision Making Approvals Needed There is no hierarchy of decision makings Every person is supposed to know their job best as informed captains They have to make their decisions and move forward If things don t work out and fail they need to capture the learnings out of it Say What you Think Employees are not supposed to please their bosses They are supposed to say what is right again in the best interest of Netflix 360 Degree Feedback Instead of yearly or half yearly goals performance reviews it is Tropical Bioproductivity encouraged to give freuent candid feedback toach other For a Netflix Elizabeth Ann Seton employee it s very common to receive 10 to 30 feedbacksvery year as part of 360 degree feedback from all across the board Hastings himself received 71 feedbacks in a year Lead with Context not Control As part of Die Postmoderne Konstellation empowering managers and leaders are supposed to give context to their direct reports instead of controlling them on how to do their job The Keeper Test The compensation philosophy of Netflix is to pay top of the market often substantially higher than the best other possible offers anmployee may get in the market This is to attract the best talent to fill up for Folk Tales From the Soviet Union each of the openings Instead of thinking Netflix as a family Hastings developed the motto of a sports team where the best players will always be selected Anyone less than that will be given a severance package and told good bye To make sure only the best remains in the team managers are stronglyncouraged to ask themselves about Ulysses and the Trojan War each of their direct reports whether if they get a better offer to move to another company will the manager doverything possible to try to keep them in the team If not then don t wait to say good bye to that mployee right away Going Global Hastings touch based on their collective learnings as they went to different countries with different cultural behavioral misalignment with a very American Netflix style So the company collectively learned how to synthesize it with timeHere are some of the highlights in Netflix s journey1997 Netflix is launched as an online DVD rental1999 digital distribution launched2000 Blockbuster refused to acuire Netflix2002 went IPO2007 launches video streaming2010 xpands outside the US Canada2011 launches and then kills wikster2013 The Collector's Encyclopedia of Antique Marbles entered the content production industry with House of Cards2013 Anthony Wood launched Roku taking the Netflix in house streaming player with investment from Netflix2020 Ted Sarandos Named Netflix Co CEO Alongside Reed HastingsSource If you want to build a ship don t drum up the men to gather wood divide the work and give orders Instead teach them to yearn for the vast andndless sea Netflix has Taught to Obey experienced a meteoric rise to the success by transforming itself from a DVD by mailnterprise to an on demand streaming company with a subscriber base of close to 200 million in 190 countries vis vis creating its own in house content Netflix Originals that have won the coveted Oscars Emmy and Golden Globe Awards And all this can be majorly attributed to their culture one that values freedom and responsibility over the rules and process as outlined in their now famous 127 slides Netflix Culture DeckIt however goes without saying that neither there is a one size fits all company culture nor this book is advocating to throw your current culture out and replace with that of Netflix What Reed and Erin offer you in this book is a dimension beyond controls and regulations that will help you to liberalise your organisation and drive the decision making process with contexts and not just controls In this rapid paradigm shift from Industrial Economy to Knowledge Economy where agility creativity and innovation are of paramount importance Netflix Culture of maintaining high talent density with thoughtful candour and minimal regulations will continue to become Learning to Dance in the Rain ever relevant I was sold on the concept of this book where a hard hitting biz authorprofessor tells the gory behind the scenes reality that conflicts with the rosy hindsight bias of the founderCEO but sadly no gloves came off whatsoever And to think I wasxcited to learn about the inner workings of the streaming darling only instead to be inundated with a non buffering stream *Of Vanilla HR Policies I *vanilla HR policies I probably jaded having worked in tech for 15 years but unlimited vacation freedom responsibility and doing what s best for the company are all pretty basic concepts To put out a book about this now seems like a uaint yet irrelevant history lesson that magnanimously takes credit for aggressively bare bones silicon valley perks Throw in a candy wall and show me to the nap pods. Ciples the implications were unknown and untested But in just a short period their methods led to unparalleled speed and boldness as Netflix uickly became one of the most loved brands in the worldHere for the first time Hastings and Erin Meyer bestselling author of The Culture Map and one of the world's most influential business thinkers dive deep into the controversial ideologies at the heart of the Netflix psyche which have generated results that are the Rebel (The Change, envy of the business world Drawing on hundreds of interviews with current and past Netflixmployees from around the globe and never before told stories of trial and rror from Hastings's own career No Rules Rules is the fascinating and untold account of the philosophy behind one of the world's most innovative imaginative and successful compani.