Ruthless advice from Netflix's founder...

Brace yourself for a face-melting, spine-tingling journey into the heart of Netflix's culture, where mediocrity goes to die and only the most ruthless, cut-throat motherf**kers survive.

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👇 Today’s Briefing

• Insight: Netflix Builds Teams, Not Families 🥇

• Story: Adequate Performance is for Losers ☠️

• Action: Jack Welch’s Rule for Non-Producers 📈

INSIGHTS

Netflix Builds Teams, Not Families 🥇

We’ve all heard the “we’re a family” bullshit from a boss or two (or all of them) in our time. Well, Reed Hastings knows this is bullshit and he’s all about making a great team, not a family. For Hastings, it all comes down to culture.

1. High performance is paramount: Hastings believes in creating a culture that demands excellence and does not tolerate mediocrity. He wants employees who are driven, innovative, and always striving to be the best in their field.

2. Adequate performance is not enough: Netflix's policy of offering generous severance packages to employees who are merely adequate sends a clear message that the company values high performance above all else.

Hastings has consistently prioritized building a strong, distinctive corporate culture across his ventures, recognizing that a high-performance culture can drive success in any industry.

Here’s how it all got started at Netflix…

THE STORY

Adequate Performance is for Losers ☠️

We all know what Netflix became, but how did it happen? What singular vision led the streamer’s global takeover? Let's rewind and talk about how Netflix came to be the entertainment juggernaut it is today.

It all started with Reed Hastings, who's got a track record of building remarkable companies.

So, how did Hastings turn Netflix from a DVD-by-mail service into a global phenomenon? By creating a culture so hardcore, it makes Navy SEAL training look like a f**king cakewalk.

Hastings didn't want a bunch of mediocre employees sitting around, watching cat videos and collecting paychecks. No, he wanted a team of ruthless, cutthroat motherf**kers who were ready to take on the world.

To make this happen, Hastings came up with a policy that's as savage as it is brilliant: if you're not bringing your A-game, you get a fat wad of cash (four months minimum) and a one-way ticket to F**koffville. 💸🖕 

It's like Willy Wonka's golden ticket, but instead of a lifetime supply of chocolate, you get a lifetime supply of "thanks for playing, now GTFO."

When Hastings dropped this truth bomb on the world, two-thirds of the job candidates were like, "Hell yes, I want to be part of this high-performance cult!" But the other third? Nope, so there’s a filtration built in.

One of the most mind-blowing parts of the Netflix culture was the whole "team, not family" thing. Hastings was like, Look, I know family is important and all, but we're not here to hold hands and sing 'Kumbaya.' We're here to dominate, like the 1992 Dream Team at the Olympics.

And all of this goes back to Netflix’s 125-page deck on their culture that highlights things such as:

• Judgement (identify root causes, not treatment)

• Communication (listen in order to understand)

• Impact (focus on results rather than process)

• Curiosity (seek to understand strategy and customers)

• Innovation (challenge prevailing assumptions)

• Courage (say what you think, even if controversial)

• Passion (inspire others with a thirst for excellence)

• Honesty (you are known for candor and directness)

• Selflessness (ego-less when searching for best ideas)

It's not for the weak or the timid, but if you can embrace the chaos like Hastings, you might just create something that changes the world — or at least provide enough binge-worthy content to keep people glued to their couches for the next decade.

Key takeaway: The filtration process ensures that Hastings’ companies maintain a high caliber of talent.

TAKE ACTION

Jack Welch’s 20-70-10 Rule for Non-Producers

Like Netflix’s Reed Hastings, CEO Jack Welch was the pioneer for showing mediocrity the door.

Here’s a look inside how can implement his 20-70-10 rule, which meant categorizing workers into top performers (20%), adequate (70%), and non-producers (10%)

1. Establish clear performance metrics: Define measurable goals and objectives for each role, ensuring employees understand what is expected and how their performance will be evaluated.

2. Conduct regular performance reviews: Use an evaluation process to identify top performers, adequate performers, and non-producers.

3. Make tough decisions: Based on the performance, identify the bottom 10% of employees and show them the door.

When you cultivate a posse of merciless, skull-crushing barbarians over a warm and fuzzy, "participation trophy" family gathering, you're effectively mainlining a potent cocktail of pure, unadulterated "f**k you" energy into your company's veins before the Industry Obliteration Hunger Games.

Memes of the Week 🤣 

Bite-Sized Reads 📚

[Read] Slide Deck: “Imagine if every person at Netflix is someone you respect and learn from…”

[Read]: Reed Hastings: “We wanted to make sure that they could land on their feet and have a generous severance package.”

[Read]: Reed Hastings: “To disagree silently is disloyal.”

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Publisher: Jordan Belfort

Editors in Chief: Brock Swinson and Davis Richardson

DISCLAIMER: None of this is financial advice. This newsletter is strictly for educational purposes and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.