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1595: Your Ideas Suck… How to be an Entrepreneur With Netflix Co-Founder Marc Randolph
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In this episode Sal, Adam, and Justin interview Netflix Co-Founder Marc Randolph
- Are you born to be an entrepreneur or is it something that can be developed? (1:52)
- Why would you want to be an entrepreneur? (3:35)
- An example of colliding your idea with reality. (6:45)
- The birth of Netflix. (12:04)
- The evolution of his relationship with Reed Hastings. (15:57)
- Was Netflix laughed out of the room pitching their idea to Blockbuster? (22:00)
- How did they generate enough revenue to stay afloat during those dark days? (30:14)
- Why if these companies do not have the courage to disrupt themselves, someone else will do it for them. (32:33)
- The importance of being comfortable with uncertainty. (36:39)
- How if you don’t know what you want, the opportunity of getting it is very slim. (39:30)
- Why you should never fall in love with your ideas. (42:42)
- Why there is no substitute for trial and error. (45:52)
- What is success if not the ability to go and spend your day with the things you love? (46:54)
- What characteristics does he look for in an entrepreneur? (49:26)
- The distinct layers of scaling a business. (51:10)
- His take on the two different models of streaming. (56:10)
- The essential ingredient of the algorithm. (59:58)
- The interesting dynamic of the growing podcast space. (1:01:36)
- What up and coming businesses excite him? (1:04:48)
Related Links/Products Mentioned
- July Promotion: MAPS HIIT and the No BS 6-Pack Formula 50% off! **Promo code “JULYSPECIAL” at checkout**
- Visit ChiliPad for an exclusive offer for Mind Pump listeners!
- That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea
- That Will Never Work Podcast
- Mind Pump Podcast – YouTube
- Mind Pump Free Resources
Featured Guest/People Mentioned
- Marc Randolph (@thatwillneverwork) Instagram
- Reed Hastings (@reedhastings) Twitter