Matt BrittonFounder & CEO powering AI-driven consumer insights

Don't Be Romantic About the Future

Name: Don't Be Romantic About the Future
Uploaded: 2018-10-17T21:52:22Z
Channel: Matt Britton
Description: A short YouTube monologue ("Don't Be Romantic About the Future") that uses Netflix's transition from DVD shipping to streaming—driven by CEO Reed…

17 Oct 2018

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A short YouTube monologue ("Don't Be Romantic About the Future") that uses Netflix's transition from DVD shipping to streaming—driven by CEO Reed Hastings' willingness to cannibalize his own business—as an illustrative anecdote to argue businesses and individuals should not cling to the past. The speaker urges embracing change, avoiding short-term thinking, and proactively disrupting existing models to move forward.

When Netflix first started, they were shipping out DVDs. Reed Hastings, the CEO, very early on, said, you know what? I don't think this business is going to last. People aren't going to have DVDs in 5, 10, 15 years from now. So what he did is he cannibalized and disrupted his own business and shifted to streaming. He was able to go three steps back, to take 20 or 50 or 100 steps forwards. Most businesses today, especially ones that are publicly traded, will never do that. They're too scared. They're too much thinking about the short term. So. Or that employ all of you guys in this audience, no matter what you're doing, is don't be romantic about the future. Don't hold on to the past. Embrace what's moving forward.