This Netflix Co-Founder Turned His Idea Into A Company Worth Over $100 Billion | Marc Randolph
ฝัง
- เผยแพร่เมื่อ 22 ก.ค. 2024
- Are you an entrepreneur or a dreamer? Most dreams never come true, and if you really want to succeed in business, you finally have to take action on your ideas and overcome every obstacle getting in your way. People you love will tell you, “that will never work.” But with that said, your dreams can come true if you have the courage to pursue them.
In this episode of Impact Theory, Tom Bilyeu is joined by Marc Randolph. As co-founder and founding CEO of Netflix, Marc laid much of the groundwork for a service that’s grown to 150 million subscribers and fundamentally altered how the world experiences media. Tom and Marc explore how Marc managed to take action on his dreams and succeeded against all odds. Marc shares how he started Netflix and how they tweaked their business and stopped it from failing like most businesses.
Marc shares the single most fundamental problem why most people never take action on their ideas. Furthermore, Marc reveals the skill he is good at, which he calls “the entrepreneur’s secret weapon” and how running for a plane taught Marc the right mindset to chill in the midst of chaos and much more.
SHOW NOTES:
The one-sentence Marc has heard 1000 times from his friends, his family, basically everyone when pitching the idea of Netflix. [1:24]
What Tom tells his team of what’s really important when it comes to good ideas. [2:30]
The fundamental things Marc learned in his 50s while skateboarding that helped him build Netflix [3:25]
How Marc started Netflix and how they tweaked the idea to stopped it from failing like most businesses. [5:27]
The even better approach to “there are no good ideas” to generate winning ideas. [7:49]
The single most fundamental problem why most people never take action on their ideas. [9:05]
What separates an Entrepreneur from a dreamer. [9:46]
What Marc looks for in Entrepreneurs when Angel Investing to see if they´re on the right track on how to apply this principle to any other business. [10:14]
The fundamental misunderstanding of Entrepreneurship and the deep-seated psychological fear everyone (even Marc) struggled with for years. [15:41]
The idea of “two-way doors” Marc teaches young Entrepreneurs to practice to escape the traps of perfectionism and take immediate action. (And prevent them from taking too much risk.) [20:21]
The fundamental truth about knowing what to test. [21:42]
Where 98% of Netflix´s revenue did come from initially and why Marc decided to give up that revenue. [24:06]
The skill Marc is good at, that he calls “the entrepreneurs secret weapon” [27:20]
This “Canada principle” made Netflix strong and beat the competition. [29:42]
This brutal moment destroys most business relationships and how Marc handled this “big ego” moment. [32:48]
Why the person who starts a company is not necessarily the right one to run it when it´s big. [37:58]
The real challenge in Marc’s life that he is most proud of when he looks back. [41:10]
How Marc managed to maintain his relationship while building his businesses. [43:04]
How running for a plane taught Marc the right mindset to chill in the midst of chaos. [45:26]
The three reasons why Marc loves running in Alaska. [47:24]
The rules Marc´s father taught Marc, and he passed them to his children. [49:14]
The core principles Marc instills in his kids. (Not what you think.) [52:07]
Marc’s new podcast about how to take ideas and make them real. [54:40]
QUOTES:
“You don´t need to build an app. You don´t need to start a business. You don´t need to raise money. You just need to figure out a way to quickly test your idea and collide it with some reality.“ [15:15]
“Most ideas are not one-way doors. Most things are two-way doors. You can step through, look around, and if you don´t like what you see, you step right back. Train your ability to separate a one-way door from a two-way door. Then you just blast through that door because you know: If I don´t like what I see, I can step right back. No harm.“ [20:42]
“We decided that it was way better to take this long shot at a great success than to take this pretty sure path to mediocrity and eventually to go out of business.” [26:50]
“It´s extremely rare that the person who had the skillset to start something, to grow something, is the same person who takes it all the way.“ [38:23]
FOLLOW MARC:
“That Will Never Work” Podcast:
Apple Podcast: podcasts.apple.com/us/podcast...
Spotify: open.spotify.com/show/3AABlfn...
Google Podcast: podcasts.google.com/feed/aHR0...
Website: www.marcrandolph.com
Facebook: / marcbrandolph
Twitter: / mbrandolph
Instagram: / thatwillneverwork - บันเทิง
Here are the topics we covered in this video:
The one-sentence Marc has heard 1000 times from his friends, his family, basically everyone when pitching the idea of Netflix. [1:24]
What Tom tells his team of what’s really important when it comes to good ideas. [2:30]
The fundamental things Marc learned in his 50s while skateboarding that helped him build Netflix [3:25]
How Marc started Netflix and how they tweaked the idea to stopped it from failing like most businesses. [5:27]
The even better approach to “there are no good ideas” to generate winning ideas. [7:49]
The single most fundamental problem why most people never take action on their ideas. [9:05]
What separates an Entrepreneur from a dreamer. [9:46]
What Marc looks for in Entrepreneurs when Angel Investing to see if they´re on the right track on how to apply this principle to any other business. [10:14]
The fundamental misunderstanding of Entrepreneurship and the deep-seated psychological fear everyone (even Marc) struggled with for years. [15:41]
The idea of “two-way doors” Marc teaches young Entrepreneurs to practice to escape the traps of perfectionism and take immediate action. (And prevent them from taking too much risk.) [20:21]
The fundamental truth about knowing what to test. [21:42]
Where 98% of Netflix´s revenue did come from initially and why Marc decided to give up that revenue. [24:06]
The skill Marc is good at, that he calls “the entrepreneurs secret weapon” [27:20]
This “Canada principle” made Netflix strong and beat the competition. [29:42]
This brutal moment destroys most business relationships and how Marc handled this “big ego” moment. [32:48]
Why the person who starts a company is not necessarily the right one to run it when it´s big. [37:58]
The real challenge in Marc’s life that he is most proud of when he looks back. [41:10]
How Marc managed to maintain his relationship while building his businesses. [43:04]
How running for a plane taught Marc the right mindset to chill in the midst of chaos. [45:26]
The three reasons why Marc loves running in Alaska. [47:24]
The rules Marc´s father taught Marc, and he passed them to his children. [49:14]
The core principles Marc instills in his kids. (Not what you think.) [52:07]
Marc’s new podcast about how to take ideas and make them real. [54:40]
QUOTES:
“You don´t need to build an app. You don´t need to start a business. You don´t need to raise money. You just need to figure out a way to quickly test your idea and collide it with some reality.“ [15:15]
“Most ideas are not one-way doors. Most things are two-way doors. You can step through, look around, and if you don´t like what you see, you step right back. Train your ability to separate a one-way door from a two-way door. Then you just blast through that door because you know: If I don´t like what I see, I can step right back. No harm.“ [20:42]
“We decided that it was way better to take this long shot at a great success than to take this pretty sure path to mediocrity and eventually to go out of business.” [26:50]
“It´s extremely rare that the person who had the skillset to start something, to grow something, is the same person who takes it all the way.“ [38:23]
Great episode Tom!
I love your show!!!! The best!
Good one
**Dam your pinned comments are amazingly helpful**
This is the first time I’ve read a pin comment of yours, after watching more than 100 of your videos over the past 3-4 years.
Just like you say - it’s all about implementable actions. Your pinned comments help me implement a lot better.
Thanks #NoGoodIdeas #ThatWillNeverWork
Xxç
*"Pain of regret is so much worse than pain of discipline."*
Heard it before, but thank you- cuz now it's going into favorite quotes.
There is no pain in thinking about regret because of the learning processes involved. There is only the pain of not learning from regret or the pain of feeling regret after regret and not learning through the experience. Push through the pain, learn to thrive with pain and something seemingly magical will happen.
@@ChapsShrugged I don't understand why have regret in life when the first step is to start
Better be sure of the decision you make
I could NOT get it together today. Listened to this and all of a sudden I got dressed, things got done, and my business/career plans got less impossible. Love it. He was literally a delight... that happened to be successful and smart too 😊
Aaaaand this just might be the best episode of impact theory.
Dude I absolutely agree with you 💯. I just bought his book didn’t even wait to finish the episode!
My thoughts exactly 👌
My personal favorites are Sadhguru and Wim Hof, but yes this guy drops some gems that I will for sure use. Thanks Tom
Yep, definitely up there. The joy in the guy’s eyes is palpable.
I agree
Collide your idea with reality and learn. Good lord what wisdom. Let’s gooooooooo!
I like the interview on your youtube channel Jason. Have you considered idea's around book reviews? On facebook my name Aarron Brunner send through a friend request if you'd like to be friends
"Take your idea, and quickly collide it with reality" --- Brilliantly said. Agreed...
We, humans, have a tendency to take the harder route when validating an offer.
“Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all.”
―Dale Carnegie
Have a Nice Day! 🖤
The "Important",things in this life simply aren't important, what is important is that if you die tomorrow that if through Gods legacy, we are reborn tomorrow? What is important is tomorrow that we are happier than we are today. So instead of thinking about how important your day job is think "how can I be happy or happier".
This was one of the most actionable and relatable interviews on entrepreneurs I’ve seen. I love that he decided his relationships and outdoor pursuits had to be woven into his life as a business person and not just a sometimes or side thing. He made it work!! Feeling inspired. Thanks Tom!! 👏🏼💯
"Most overnight successes take at least 10 years."
You have to put in the work if you want the results!
It takes longer than 10 years to become an over night success if you include being born and breast feeding.
What I think they mean that from the time they decide to actually start
lol if you want to get technical
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html
th-cam.com/video/KlAQB8-CrFI/w-d-xo.html
I like him! He is cool and humble! He looks good in his 60s
It must have been hard for him growing up with a father who was a banker. I mean he's a good looking guy with some great idea's but no-doubt girls would look first at how deep his fathers pockets were.
@@annnnn9074 That's every girl out there...
@True That is absolutely false
He's related to Edward Bearnaise who is the nephew of Sigmund Freud
This is one of the best Impact theory episodes I have ever seen. Collide your idea with reality as fast as possible
This was probably the best you tube video with regards to entrepreneurship that I’ve ever watched.
There were so many gems, actionable tips, and moments of clarity. I’m sharing it. And, I’m sitting here listening to his podcast and writing down the 2 to 3 areas I need to focus on.
I love your shoe and your interviewing style. Thank you. 💓💓💓 Seriously. I’m so grateful. I think the two of you just gave me a guide to save my little business. I’m so very thankful, and forever in your debt. 🌹
Hi there 👋😀
This is one of the best and most refreshing interviews I've watched in a while.
This show just gets better and better
Definitely we keep watching we are all going to be rich.
@@jehriasean6379 I don't know about getting rich but it definitely helps develop your mind
@@jehriasean6379
Not if we just think about it. We
Need to start doing it.
@@Memoiana u watch it enough and u will start taking action.
MORE INTERVIEWS WITH ENTREPRENEURS PLEASE.
This was an amazing interview. Learnt so much about entrepreneurship. Very helpful for an aspiring entrepreneur! Thank you 🙏
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html
So inspiring: difficult conversations, honesty, trading big dream for bigger dream, choosing balance, culture is behavior. I constantly recommend Impact Theory! Never run for a plane! Chill!
Thank you Tom and Marc for this amazing conversation .
Omg, his eyes literally twinkles in excitement. He is undeniably radiating with aliveness! As always, thanks for this great interview Tom!
Thank you so much! Never heard of him. Already picked up his book. I'm an entrepreneur with modest success. I'm so grateful his words. Looking back he was spot on and excited to push more into the future
This was a wonderfully life rearranging interview. My mind swims with ideas, some of which I act on with some success, but most stay in my head. I subscribed to Marc's podcast and sent this as a link to my young cousin in business school. Good interview Tom.
“We must all suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons.”- Jim Rohn
Every aspiring entrepreneur should watch this. Infact you can apply these to various aspects of every day life. Thank you Tom.
Great lesson of resourcefulness! “When you have exhausted all possibilities, remember this, you haven't.”
Thomas Edison
Edison forgot to add, "Even if it means screwing over others and taking advantage of their complacency." 😂 Sorry! Broad sense of humor here, I had to! (If ya want me to edit that out, lmk I'll do so happily!)
But na, for real- that's where personal responsibility comes into play, and why I love Tom's
"And now what?"
This is going into my favorite quotes right now- thank you!
Society is very cruel if you say that your priority is your kid or the loved one.
So encouraging to hear when big entrepreneurs are so vocal about it !
Thank you for this interview. I was fretting over all the things that needed to be done to have a successful launch for my service idea. However, I did nothing except plan and think about how much cash and help I would need. After listening for a few minutes, I took action and put up a post about my service. Within a few days, I will know if my idea is viable or not. Really
Great guest!"Action cures all" - love this! Thank you for the motivation, that you sharing with us!
I love how happy Marc is! And how he was able to create balance in life. This is true achievement! Thank you so much for this super positive and helpful episode! 🥰🥰🥰
This guy is amazing. Thank you for constantly providing us incredible value Tom and IT team!
New to your channel and I absolutely love the content- super profound & inspiring and "easily digestible". Thank you for sharing this with us. Very grateful to have found you (I know I'm late to the party!).
What a golden smile he has!!!!!
Amazing amazing amazing! You both inspired me today to act rather than research so much and then finally feeling overwhelmed to be perfect.
This is an incredible interview. Thank you so much!
after he wasted my 3 years of life ...he has the guts to give an interview as if he has not done anything wrong...thou nice and insightful info...tom thanks for improving my life everyday...
I felt the need to have a multiple like button. Liking this video 1 time is definitely not enough. Liked it more and more as I was watching it. Awesome.
It strikes me that the extraordinary quality of life we are experiencing can be credited almost solely to entrepreneurs- those who did not react to the indictment of “ that will never work”
This is Another great one Tom thank you guys for this gem 💎 of a conversation 🔥
Awesome content as usual! Tom thanks so much! Marc thanks for the tips!
Ooooooh this is JUST what I needed today! Very cool chat! Thanks both!
“Not a born entrepreneur”?
I don’t think that’s true. I think every human being naturally starts innovating to solve their problems and trading with others to get what they need.
That’s what a baby is doing when it’s screams for its bottle. Every kid knows how to negotiate. They negotiate at bedtime every night.
Every animal is entrepreneurial too. They all have their own little business and they all live off of it.
Our natural entrepreneurial instincts get driven out of us by our conditioning. And by 12+ years of sitting in a classroom being taught to regurgitate what we are told.
You seem very wise to mention the classroom, t'seems like vaccines - to some they are a saviour, to others, a curse
He is so self-aware, just wow! Inspiring talk ❤️
Dope interview. I feel inspired! 🔥
Thanks Tom. These videos are really good to inspire us. Keep at it
Omg I just had a lightning rod moment, me listening to all these successful motivators w their stories is like I was in the same room w them that is crazy and it’s 5:10am.
Hello there
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html
Thank you Both and your teams for putting the brilliant thoughts in my mind!!!! IMPACT 💖
This was amazing. He is just so down to earth and so full of awesome insights for everyone!
Thank you for this! Definitely a lot of GEMS were shared! #Sharpened💪🏾🔥
So true, we’re living the information golden age ideas ain’t worth shit it’s those that execute that will be rewarded.
Learnt it the hard way. I always thought more than I acted. He seems like a good guy!
So far one of the top 2 episodes I have seen along with the one featuring Lisa Nichols
This might be your best one yet!!!! ( actually it is for me) thanks for reminding me/us just to really test/experiment and see if we're onto something or not. Simple and cheaper is always better than perfect and expensive which is usually a failure/monument
I like all the interviews on IT but this one is by far one of my favorites
Perfect for me to listen to while working, no doubt lots of value to be gained here!
Love Marc's approach and personality
"The difference between average people and achieving people is their perception of and response to failure."
*― John C. Maxwell*
Failures are the only way to success.
King of quotes on this thread 🤣🎙
I listen to that "Failing Forward" audiobook on YT abt 4x's a year.
Thank you Tom and Marc!
Learn so much from this video. Thanks for doing this Marc
One of my favourite interviews!
Extraordinary interview! He is so great!
What a great interview! Worth every minute.
So valuable! Thank you!
"Motivational quote" - Famous person
Thanks for this interview Tom. Admire Mark's ideas!! Some serious eye openers ..
Hi there 👋😀
I've heard several interviews with Marc. It always sounds like he's either given the questions he wants to be asked, has told these stories 100x's or just comes across like a well-planned man. Solid stories though :)
Love love love whatever he shared!hes so smart and knowledgable!
Nice intro. Theorising is great but it'll never get you anywhere without action. Take a close look at those reasons you're holding back right now and see if you can figure out a way to move forward regardless of those things. See if you can actually identify them as excuses disguised as reasons.
Thank you I have took so many note from this I hope I will apply it and see a change in me.
So wonderful listening to his experienced knowledge :)
11:20
Validate ideas quickly.
Mini MVP. Way more minimal and less viable.
12:00
Collide idea with reality quickly
52:52
Persistence/not taking a no for answer
Just show up and sit in the class regardless
Pain of regret is worse than pain of failure.
Thanks Marc and Tom!
Amazing interview. Thanks
Thanks Tom, it was really nice to hear these stories! Made me a bit stronger everyday mentally! ;)
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html
Wow! This was a truly great interview Tom! The only one that might be better is Goggins.
Awesome questions as always Tom
Excellent! So many insights
This is by far my Biggest problem, I am a dreamer but never action. Have so much written but that's where they end on a note book.
Very good interview, nice job.
This interview is so good
of course there are better and worse ideas but yes its the process that counts
The best TH-cam channel ❤
Thank you for this video. It was excellent!
Thanks for the comment, 𝙄 𝙝𝙖𝙫𝙚 𝙨𝙤𝙢𝙚𝙩𝙝𝙞𝙣𝙜 𝙧𝙚𝙖𝙡 𝙗𝙞𝙜 𝙄 𝙬𝙤𝙪𝙡𝙙 𝙡𝙤𝙫𝙚 𝙩𝙤 𝙞𝙣𝙩𝙧𝙤𝙙𝙪𝙘𝙚 𝙮𝙤𝙪 𝙩𝙤
T.e.x.t m.e
+.•1 •6• 1 •9 .•7 •3• 6•. 9 .•6•.5•. 7
Tom Bilyeu, you are a fucking G when it comes to interviews! You ask the best questions!!! Thanks for making this available for me!
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html
There are plenty of good, and bad ideas out there. The execution, and the investment, in those ideas makes all the difference. "The Shake Weight" for example is a horrible idea, but if you throw enough money, publicity and execution of marketing at the idea, you will find enough suckers to make a bad idea into something great. Somebody made tens of millions of dollars on a horrible idea. "The Pet Rock" is another one.
I suspect allot of people lead a dull life and so when an idea comes along if it's great or not doesn't matter to the investor, what matters is that when the investor helps that they feel there is a greater goal than the boredom of their current reality. Something to inspire them and the people around them every morning when they wake up that their is something worth living fore
This is just too good! I fell like I just got an MBA
This is a master class
Huge right there. TY!!!
one of best episodes
Wow great guy, super energetic!
Amazing interview
love this episode
Great talk! Thank you.
Really great talk
Great interview! Thank you 😃
Hello there
29:40! Great one
Thanks @TomBilyeu & @MarcRandoloh !
💥Action beats Intention, To triumph, you must first Try!🙌
Make mistakes. Fail fast.
Avoid perfectionism.
Focus on what is most important.
That. Was. Awesome.
Stop thinking and just do it is my motto for life. Thinking of the perfect plan, the perfect opportunity, the perfect girlfriend/boyfriend etc. will do you no other good than to waste precious time. And before you know it, you are stuck in a rut and can't get anywhere in life because you've wasted too many opportunities.
Trust me on this one, find out what you would like to do and just go for it. Even if it's not the right thing it is much better than ending up with nothing. So go hard for what you want in life and if it doesn't work out, then just go for something else. Who knows, it might actually be better for you.
Also, don't listen to others and what others are doing. If you let yourself be influenced by others, you won't be able to make good decisions for yourself. So be independent and stay grinding!
Mark can I ask, as a creative. How do you approach a nAngel Investor and share the idea with them? When you know - like your wife, they will say no, or, if it's a good concept is great you expect it's so simple and easy that the Angel Investor will take your idea and build with someone else? I imagine a number of Tom's viewers, people like me who have been following through on their plan, have similar thoughts? So perhaps if you do have a question for Marc leave it in the comments now, and, over the next week we can all see where this goes?
th-cam.com/video/ZUW-OGUeXFU/w-d-xo.html