Reed Hastings, the co-founder of Netflix Inc (NASDAQ:NFLX), recently revealed that he has been following a business philosophy inspired by Jeff Bezos, the former CEO of Amazon.com Inc (NASDAQ:AMZN).
What Happened: Hastings, who co-founded Netflix in 1997 and now chairs the $260 billion streaming giant, shared his approach to taking risks in a recent conversation on entrepreneur Tim Ferriss‘ podcast.
He emphasized the importance of taking “recoverable risks” to boost productivity and creativity. This approach, according to Hastings, is borrowed from Bezos’ leadership style at Amazon, where risks are categorized as “one-way doors” or “two-way doors.”
“A two-way door risk is easy to take because it’s reversible, so you can come back in and pick another door,” Bezos explained in a ‘Lex Fridman Podcast‘ last ...