TED: How Netflix changed entertainment -- and where it's headed | Reed Hastings

Reed Hastings discusses Netflix's strategic shift from DVD rentals to streaming original content, highlighting the introduction of binge-watching with 'House of Cards'. He explains Netflix's significant investment in content creation and the company's unique culture that emphasizes freedom and responsibility. Hastings also touches on the role of data and algorithms in Netflix's success and shares his passion for education, particularly through charter schools.

What was the significant decision Netflix made around 2011?

• To invest in original content

• To stop DVD rentals

• To merge with HBO

• To acquire Blockbuster

What new viewing concept did Netflix introduce with 'House of Cards'?

• Weekly episode releases

• Pay-per-view

• Live streaming

• Binge-watching

What is a key aspect of Netflix's company culture?

• Strict hierarchy

• Process obsession

• Freedom and responsibility

• Limited employee information

What is a unique feature of Netflix's employee management?

• Fixed vacation days

• High employee turnover

• Open information sharing

• Strict dress code

How does Netflix primarily use its vast trove of data?

• To track competitor activities

• To improve content recommendations

• To monitor employee performance

• To sell to advertisers

What shift did Netflix make in its recommendation system?

• From user ratings to viewing habits

• From manual curation to random selection

• From genre-based to actor-based recommendations

• From global to local content focus

What was the outcome of Netflix's algorithm competition?

• No improvement was found

• A 10% better algorithm was developed

• The algorithm was sold to another company

• The competition was canceled

What is Reed Hastings' main focus in his educational philanthropy?

• Developing online courses

• Funding university scholarships

• Supporting charter public schools

• Building private schools

What is a common criticism of charter schools?

• They are too expensive

• They lack qualified teachers

• They have low student enrollment

• They divert resources from public schools

What motivates Reed Hastings' involvement in education?

• His background as a math teacher

• His desire to enter politics

• His interest in technology

• His partnership with Disney