Netflix founder Reed Hastings is known for placing big bets on bold ideas. One was turning conventional corporate culture on its head by stripping away limitations on employees, so they could be more free – and more accountable – to achieve shared goals. It worked so well that he published the blueprint online as the “Netflix Culture Deck.”

TCV’s Founding General Partner Jay Hoag, a long-time Netflix board member, chats with Patty McCord, Netflix’s chief talent officer for 14 years and co-creator of the Netflix Culture Deck, for this exclusive podcast about her new book: “Powerful: Building a Culture of Freedom and Responsibility.” Together, they detail the origins of the culture deck, what happened when it went viral (it’s been viewed more than 15 million times), and how CEOs can apply the principles that made Netflix a magnet for high-performance talent.

The path to industry leadership is rarely smooth, and those that make it to the mountaintop must adapt to both market opportunities and dynamics. Jay and Patty anchor their conversation in historic pivots and lessons learned from Netflix’s evolution to become the world’s leading internet television network. Patty reveals how vigorous management debate and candor with employees kept morale high during both peaks and troughs. The podcast includes numerous lessons for successful recruiting and creating the conditions for people to do their best work. Topics covered include:

  • What really attracts top talent
  • How to ensure that employees link their work to high-level strategy
  • Why employee compensation should not be secret
  • How to sustain the speed of a small company as you build a large one
  • Why lavish perks do not promote higher performance
  • How to use a product-development perspective to enhance culture

 

For an inside story on the cultural principles that made Netflix a household name worldwide, settle back and click play.

 

TCV is an investor in Netflix and Jay Hoag serves on the board of directors of the company.

The views and opinions expressed in the transcript above are those of the speakers and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). This transcript is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified above, if any, are not necessarily representative of all TCV investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit www.tcv.com/all-companies/. For additional important disclaimers regarding this document, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at http://www.tcv.com/terms-of-use/