Read: January 2021
Inspiration: What is the story of Netflix?
Written with the help of ChatGPT, below is a brief summary to understand what is covered in the book.
“No Rules Rules”, published by author and Netflix co-founder Reed Hastings, discusses the company’s unique corporate culture and how it has evolved over time. Hastings argues that Netflix’s culture is characterized by a lack of rules and bureaucracy, and a focus on innovation, risk-taking, and personal accountability. He discusses the ways in which the company has embraced this culture, and how it has helped drive its success and growth. The book also provides insight into Hastings’s own leadership style and philosophy, and the role that he has played in shaping the company’s culture. Overall, the book offers a unique and thought-provoking perspective on corporate culture and the ways in which it can drive innovation and success.
Direct from my original book log, below are my unedited notes (abbreviations and misspellings included) to show how I take notes as I read.
Important to have high talent density (adequate workers bring down performance of all so need to ensure all workers are high performing and collaborative), candor and feedback are very important to facilitate (shouldn’t be afraid to speak up to seniors) but key is to deliver positively and calmly (not out of frustration), freedom breeds accountability and responsibility (F&R–removing controls is good), expense policy is “act in netflix best interest) coupled with no vacation policy at all (trust people, honesty key), freedom leads to feelings of ownership, lesser controls require context and examples from boss to guide practices, freedom in expenses may lead to some overspending but gain in freedom is worth it, sunshining mistakes only works once proved competence and trust (builds warmth, see as human–but have to establish self as leader first), lead with control to eliminate mistakes but lead with context for freedom and innovation, netflix decentralizes decision making (not all approved by c-suite, let department do their thing), in loosely coupled company like netflix context from leadership is key to keep all aligned, animated content great for international bc speak that language vs live action with subtitles and looks off, KPIs and pay for performance stifle innovation bc more incentive to continue as is, want organization like a tree not a pyramid where c-suite at roots set context and branches are decision makers who understand context clearly, have to be aware on international culture differences related to communication/interaction/trust and many other areas, for example japan gives indirect feedback and is conflict avoidant vs netherlands is very direct, with less direct cultures need more formal feedback moments (give instructions and time to prepare), americans learn to give positives before negatives in feedback but this is weird for dutch (don’t give both positive and negative in same feedback), americans hearing only negative think whole thing disaster when dutch not intend that (just don’t preface with positive like americans learn to do), 4As-aim to assist, actionable, appreciate, accept or decline then 5th A is adapt for international culture, rules and process necessity when can’t have errors (e.g. hospital) but in creative economy R&F is valuable–keep organization loose and adaptable but aligned