Reed hastings “American entrepreneur”

REED HASTINGS “American entrepreneur”

By Abraev Lazizbek XBA-91

BIOGRAPHY

Reed Hastings is an entrepreneur and philanthropist who is the co-founder and chief executive officer of Netflix. He is also on the board of the social networking website Facebook and several non-profit organizations
Hastings was born on 8th October 1960 in Boston, Massachusetts. He graduated in 1978 from Buckingham Browne & Nichols School in Cambridge. After high school he sold vacuum cleaners door to door for almost a year. He attended Bowdin College where he majored in mathematics and gained the Smyth Prize and Hammond Prize in 1981 and 1983. He joined the Peace Corps for some time where he built on his risk-taking spirit. After his return from the Peace Corps he enrolled into Stanford University and graduated with a master degree in computer science in 1988.

Reed Hastings co-founded Netflix with Marc Randolph in 1998. When he started the company he was not sure whether it would even have any customers or not, whether customers would get the idea of making online queues. Another concern that he had was growth issues. He wanted to create an entertainment company but in a way that it would not lose its entrepreneurial spirit along the way. Netflix grew rapidly and its new management techniques got a lot of attention. Hastings is a big believer in internet television. So in 2007 he started streaming movies and TV shows to the users’ laptops and computers. In 2011 Hastings made some decisions which led to customer reduction, cancellation of orders, less subscribers and decrease in stock prices. Two months later the announcement of spinning off Netflix’s famous DVD business into a new name resulted in further customer confusion. Hastings was asked to resign but he refused on the grounds that he had founded the company and it was the first time in 12 years that there it was facing problems.

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Reed Hastings co-founded Netflix with Marc Randolph in 1998. When he started the company he was not sure whether it would even have any customers or not, whether customers would get the idea of making online queues. Another concern that he had was growth issues. He wanted to create an entertainment company but in a way that it would not lose its entrepreneurial spirit along the way. Netflix grew rapidly and its new management techniques got a lot of attention. Hastings is a big believer in internet television. So in 2007 he started streaming movies and TV shows to the users’ laptops and computers. In 2011 Hastings made some decisions which led to customer reduction, cancellation of orders, less subscribers and decrease in stock prices. Two months later the announcement of spinning off Netflix’s famous DVD business into a new name resulted in further customer confusion. Hastings was asked to resign but he refused on the grounds that he had founded the company and it was the first time in 12 years that there it was facing problems.

INVENTION

Netflix disclosed the annual salaries and stock option allocation for 2022 for its executive officers in an SEC filing Tuesday. Hastings' salary for next year will remain $650,000 and he is to receive options valued at $34 million.

Netflix disclosed the annual salaries and stock option allocation for 2022 for its executive officers in an SEC filing Tuesday. Hastings' salary for next year will remain $650,000 and he is to receive options valued at $34 million.

Reed Hastings

“I’ve worked very hard but,

My life’s always been fun”

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