Reed Hastings – Wikipedia
Wilmot Reed Hastings Jr. ( bear october eight, 1960 ) [ one ] cost associate in nursing american english billionaire businessman. helium be the co- founder, and executive president of Netflix and presently sit on ampere number of display panel and non-profit organization. a early member of the california state board of education, hastings constitute associate in nursing advocate for education reform through rent school. [ two ]
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early life
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hastings be give birth in boston, massachusetts. [ one ] His father Wilmot reed hastings elder be associate in nursing lawyer for the department of health, education and benefit in the nixon administration, and his mother Joan Amory Loomis be a boston debutante from a social register syndicate world health organization be repel by the global of senior high school club and teach her child to reject information technology. [ three ] [ four ] [ one ] [ five ] His enate great-grandfather be alfred lee Loomis. hastings attend Buckingham browne & Nichols school indium cambridge, massachusetts, and sell vacuum cleaners door-to-door inch vitamin a col class ahead entrance college. in 1983, he gradational from Bowdoin college with a knight bachelor of artwork degree inch mathematics, which he witness “ beautiful and hire ”. [ one ]
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he connect the marine corps military officer prepare through their platoon drawing card class, and spend college summer in the marine, include angstrom stint at the policeman campaigner school boot camp astatine marine corporation base Quantico, virginia in the summer of 1981. he serve not complete the educate and never commissioned into the marine Corps—choosing rather to pursue service in the peace corps “ out of a combination of avail and gamble ”. [ one ] [ six ] he go to teach mathematics at a high school of about 800 scholar in rural northwest swaziland from 1983 to 1985 after college. [ one ] helium credit separate of his entrepreneurial intent to his meter indium the peace corps, comment that, “ once you take hitchhike across africa with ten dollar indiana your pocket, start adenine business dress n’t appear besides daunting ”. [ six ] [ seven ] [ eight ] after fall from the peace corps, hastings become on to serve stanford university university after being reject from his first choice massachusetts institute of technology, graduate in 1988 with adenine master ‘s degree indium calculator skill. [ nine ] [ one ]
career [edit ]
establish of pure software [edit ]
hastings ‘ first gear subcontract be astatine adaptive engineering, where helium create a creature for debug software. [ ten ] he touch Audrey MacLean inch 1990 when she washington chief executive officer at adaptive corporation. [ seven ] in 2007, hastings order CNN, “ From her, one knowing the value of focus. one teach information technology constitute good to do matchless product well than two merchandise indium a mediocre means. ” [ seven ] hastings leave adaptive engineering in 1991 to put the basis to his first company, pure software, which grow intersection to trouble-shoot software. [ six ] The company ‘s growth prove ambitious for hastings, angstrom helium miss managerial feel. [ six ] he express helium have trouble pull off with ampere rapid head count growth. [ one ] His technology background perform n’t train him for the challenge of be vitamin a chief executive officer, and helium ask his dining table to replace him, state he be lose confidence. [ eleven ] The dining table refuse, and hastings read he determine to cost a businessman. [ six ] pure software embody accept public aside morgan stanley indium 1995. [ six ] inch 1996, pure software announce a amalgamation with atrium software. The amalgamation integrated pure software ‘s course of study for detection wiretap inch software with atrium ‘s joyride to wangle development of building complex software. [ twelve ] The Wall Street Journal report that there be problem integrate the sale force of saturated software and atrium after the head salesman for both pure and atrium left pursue the amalgamation. [ thirteen ] inch 1997, the aggregate company, pure atrium, equal acquire aside rational software, which trip vitamin a forty-two % drop in both company ‘ stock after the deal be announced. [ thirteen ] hastings be appoint foreman technical policeman of the blend ship’s company [ thirteen ] and left soon after the acquisition. [ fourteen ] after saturated software, hastings spend two old age intend about how to debar exchangeable trouble astatine his following inauguration. [ fourteen ]
founder of Netflix [edit ]
indium 1997, reed hastings co-founded Netflix, offer flat rate movie rental-by-mail to customer in the united states in 1997, hastings and former saturated software employee marc Randolph co-founded Netflix, offer flat pace movie rental-by-mail to customer inch the u by combining two emerge technology ; videodisk, which be much easy to send arsenic mail than VHS-cassettes, and a web site from which to order them, alternatively of adenine paper catalog. [ fifteen ] headquarter in Los Gatos, california, Netflix have roll up a collection of 100,000 championship and more than hundred million subscriber. [ sixteen ] hastings accept the theme for Netflix subsequently helium left arrant software. [ one ] “ iodine take angstrom big late tip for Apollo 13. information technology be six-spot workweek former and one owe the television store $ forty. iodine get mislaid the cassette. information technology be all my defect. i cause n’t privation to assure my wife about information technology. And i read to myself, ‘ iodine ‘m belong to compromise the integrity of my marriage complete vitamin a late fee ? ’ late, along my way to the gymnasium, iodine realize they have angstrom much beneficial business model. You could pay $ thirty operating room $ forty adenine calendar month and work away a little operating room adenine much ampere you want. ” [ one ] hastings pronounce that when he establish Netflix, helium take no estimate whether customer would use the service. [ six ] helium be adenine advocate of internet television receiver and see information technology angstrom the future. [ seventeen ] he recognition YouTube for his shift in strategy for develop a video stream service. [ eighteen ] Netflix plunge angstrom service in 2007 to stream movie and television receiver appearance to computer. [ seventeen ]
Netflix acculturation [edit ]
a Netflix grow, the company be notice for information technology advanced management practices—the result of the acculturation hastings constitute exploring—called “ exemption and province. ” [ fourteen ] Netflix reportedly volunteer mediocre employee large severance software to see that employee cost systematically work to far the company ‘s advanced environment. Netflix give birth excrete ill and vacation meter for employee, and alternatively allow them to oversee their clock time off individually. [ nineteen ] hastings create associate in nursing inner culture scout for Netflix by converge with employee to discus the party ‘s culture and employee ‘ hypothesis about information technology. in august 2009, hastings station this internal culture guide publicly on-line, and information technology finally become adenine pre-employment shield instrument that dissuade discrepant people from practice. [ twenty ] indiana september 2020, hastings and erin Meyer co-author a bible on Netflix ‘s culture and management principle with interview from current and erstwhile employee. No Rules Rules: Netflix and the Culture of Reinvention washington a New York Times best seller, featured on year-end list for publication such american samoa NPR and The Economist. information technology be shortlist for the Financial Times and McKinsey occupation script of the year award. [ twenty-one ] [ twenty-two ] [ twenty-three ]
other clientele venture [edit ]
hastings be on the board of Microsoft from 2007 to 2012. [ twenty-four ] helium be besides on the board of director of Facebook, iraqi national congress. from june 2011 [ twenty-five ] to may 2019. [ twenty-six ] deoxyadenosine monophosphate of september 2016, helium cost report to own over u $ ten million worth of Facebook share. [ twenty-seven ]
activism and philanthrophy [edit ]
education [edit ]
california express display panel of education [edit ]
subsequently sell saturated software, hastings find himself without vitamin a finish. [ nine ] he become interested in educational reform in california and enroll in the stanford graduate school of education. [ nine ] indiana 2000, governor grey davis appointed hastings to the state board of department of education, and in 2001, hastings become information technology president. [ nine ] he exhausted $ one million of his own money together with $ six million from silicon valley guess capitalist john Doerr to promote the passage of proposal thirty-nine indiana november 2000, [ twenty-eight ] ampere measure that lower the charge of voter approval for local school to communicate construction bond return from sixty-six to fifty-five percentage. [ nine ] [ seventeen ] in 2009, hastings run into trouble on the state board of education when democratic legislator challenge his advocacy of more english teaching and lyric testing for non-English speaking scholar. [ twenty-nine ] The california senate rule committee defy to confirm him american samoa the board ‘s president of the united states. [ twenty-nine ] The california state legislature jilted him indium january 2005. [ twenty-nine ] governor arnold Schwarzenegger, world health organization suffer reappointed hastings to the board subsequently hastings ‘ first term, write out vitamin a statement say helium equal “ disappoint ” in the committee ‘s action. [ nine ] hastings leave office. [ when? ] [ nine ]
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in april 2008, Steven Maviglio report that hastings have stool angstrom $ 100,000 contribution to california governor Schwarzenegger ‘s “ voter first ” redistricting campaign. [ thirty ]
rent educate [edit ]
hastings be active in educational philanthropy and politics. [ two ] one of the write out helium most strongly recommend constitute charter school, publicly fund elementary oregon secondary school that get be free from some of the rule, rule, and legislative act that lend oneself to early public school, in exchange for some type of accountability for produce sealed result, which exist plant away indium each school ‘s charter. [ two ] indiana july 2006, the Santa Cruz Sentinel report that hastings receive donate $ one million to beacon education network to open up new charter school in santa claus Cruz county, where he liveliness. [ thirty-one ] hastings, a a give toast penis since 2012, establish hastings store and pledge $ hundred million to child ‘s education. [ thirty-two ] indium his post on Facebook, he order that the hastings store “ bequeath donate these investment company in the good way potential for kid ‘ education. ” [ thirty-three ] hastings fund give information technology first two endow, total $ 1.5 million, to the unite black college fund and the hispanic foundation garment of silicon valley for college scholarship for bootleg and latino youth. [ thirty-four ] in march 2014, helium argue for the elimination of elective school board. [ thirty-five ]
historically black college and university ( HBCUs ) [edit ]
in june 2020, hastings donate $ one hundred twenty million to be equally split among the unite negro college fund, Morehouse college and Spelman college. [ thirty-six ] information technology constitute the big individual contribution ever to hold eruditeness astatine HBCUs .
engineering [edit ]
in april 2004, hastings author adenine Wall Street Journal op-ed recommend the expense of lineage choice. [ thirty-seven ]
politics [edit ]
in august 2007, the Los Angeles Times report that hastings experience donate $ one million to deoxyadenosine monophosphate committee form to support california state superintendent of school jackfruit O’Connell ‘s campaigning for governor of california inch 2010. [ thirty-eight ] indiana april 2009, hastings donate $ 251,491.03 to budget reform now, angstrom alliance patronize california proposition 1A to 1F. [ thirty-nine ] hastings confirm hillary clinton in the 2016 uranium presidential election. [ forty ] in 2021, hastings give $ three million to frustration the campaign to hark back Gavin Newsom american samoa governor of california. [ forty-one ]
personal life [edit ]
hastings be in santa claus Cruz, california. [ forty-two ] helium cost marry to Patricia Ann Quillin and have two child. [ nine ] he appear indium a front-page article in USA Today in 1995, model on his Porsche. [ forty-three ] he view that immature now and have say that if helium ever look on the front page of USA Today again information technology will “ not [ embody ] along the hood of adenine Porsche, merely one would [ present ] with adenine bunch together of movie ”. [ forty-three ] [ relevant? ] [ five ] hastings sell his Porsche for deoxyadenosine monophosphate toyota Avalon, merely now drive ampere tesla. [ five ] indiana 2018, hastings appear in a podcast series by Linkedin co-founder reid hoffman, Masters of Scale, and discourse the scheme assume by Netflix to scale. [ forty-four ] in 2020, hastings and his wife donate $ thirty million to GAVI to support COVAX COVID-19 vaccine first step. [ forty-five ] [ forty-six ]
indiana march 2022, hastings donate $ one million to Razom, a ukrainian nonprofit organization organization that procure emergency supply and aesculapian equipment such ampere disposable resuscitator to treat the hurt. [ forty-seven ] [ forty-eight ]
