The DOAC subscriber raffle is staying open until we hit 7 million subscribers where we will announce money can't buy prizes... If you're subscribed to the channel you're in the raffle, we will be picking subscribers at random 🎉 Good luck!
That was powerful when he said "We only care that you get the job done and if you can do it by only working 6 hours a week then more power to you". That is very appealing to most people.
This is something that made sense to me since I entered the work force. I could never work for an employer who made me do pointless tasks because I was on the clock.
Sounds nice for their branding (which is the reason they say that) but doesn't work like that in real life. The work they give you will require much more of your time so you will end up working hard anyway
😂 it does not work like that! I worked for several big companies. If you can do your tasks in 6 hours, it means you are reliable & good at your job. You will just receive more tasks 😂 But there are always guys who will do the tasks you do in 6 hours in 2 to 3 working days. They will not receive more taks, belive me. You will be the person who will get overworked 🥂 cheers to the effecient employee!!!
I’ve done this throughout my entire mgt career and it depends a lot on being a successful middleman, which many are not. You have to sell executive mgt. on the fact that the goals will be met as promised, and ensure that those goals are easily attainable by your team so they can attain them with a reasonable/minimal amount of work. This applies mostly to knowledge work. That sale is more an art than a science.
Marc spoke to my MBA class and I couldn't believe how real he was. He wasn't trying to cultivate some persona, he was just an entrepreneur with a ton of experience. He was an open book. It was refreshing and inspiring! Thanks Marc!
This has been a masterclass in entrepreneurship!It’s a powerful example of how entrepreneurship involves a blend of vision, adaptability, and strategic decision-making!
This guy seems like the perfect boss, gives people freedom to be creative and accountable, flexibility to live life around work, inspire you to develop professionally and just generally understanding. Just ordered his book to learn more. Great podcast.
The real deal boss doesn’t have people working for him/her, they work with him/her as a team. The boss is there to serve them and make them be their best everyday day.
Definitely one of the best podcast episodes I’ve ever watched. As a young entrepreneur in Africa, this just super inspired me. Thank you Steve and Marc 🙏🏾
probably one of your best podcasts.somebody said it in the comments above 'this is a good man'. obviously he is very smart,creative,bold,perseverent but what is indeed striking is exactly that the guy is honest,humble,human.we do not appreciate it as much as we should.being a good person.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
The rich Invest in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment...
I thought about investing in the real estate market, I heard that people make millions , but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $460,000 but it's hard to bite the bullet and do it. Money is hard to come by
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Can't believe these valuable pieces of advice are provided for free. As a young entrepreneur in Vietnam, trying to navigate all the challenges of starting a business, I'm deeply grateful for your time and efforts in making all this happen. I've learned a lot from this episode.
The mainstream advice on making money is overrated. The best thing you can do is invest in your own knowledge. Books are the ultimate learning tool. For instance, The Hidden Truths Of Wealth by Oliver Mercer gave me the foundation to start my first business and separate myself from 90% of people.
I don't normally comment but watch a lot of DOAC videos. I Wanted to say that some of the topics in other videos seem off track in regard to the podcast's intent, and that this interview was what I originally came to this channel for. The questions were directed towards the highs and lows of the business and did not stray too far off course with unrelated topics. MORE OF THIS PLEASE.
He once talked about the book Forbidden Laws of Wealth by Victor Hayes and can’t believe how underrated it is. The insights in this book are game-changing definitely deserves more attention!
My life and career has nothing to do with entrepreneurship or business BUT, I was glued to every word he said! There was SO much incredible wisdom and inside information about how businesses start and the ups and downs of trying to make them a success. He is a great communicator and a super nice guy! I’m also old enough to remember joining Blockbusters when they first launched… and yes, I HATED the late fees.😂..
You know we currently have Netflix in our house. I was a massive fan of Blockbusters. Weirdly, I have never heard of Marc Randolph. Absolutely love his authenticity, honesty and candour. Thank you Steve and Marc for another epic episode.
Hard work doesn't matter. Struggles build an empire, do your best, leave the rest to the universe. Netflix literally proved that. Great interview, great conversation. I appreciate both of you Steven for doing it, and Marc for sharing.
It's quite fascinating that you can learn and relearn so many things through another person's experiences but it takes ages for us to learn certain things from ourselves.
Yes that is correct. Because you see him in a third person view. Most people can't reflect or have a sense of out of their own body experience. Also people are too prideful to ask others how they are perceived. In their conversation he said that he didn't like to be criticised or shown from his colleague in the PowerPoint where he was wrong. It was only when he stepped down for the greater good that he was grateful that he diminished his ego. The same thing happened when he was mentioning his girlfriend in order to transition to becoming his now wife. From my own experience I had a tremendous boost in skill when I was watching myself dancing. I am a bachata salsa dancer/instructor and saw the difference, in mannerisms and behaviour with people in general not only in skill. Therapy also works, talking to people and taking bad and good feedback works, journaling works, meditation works. Manifestation works. 2 books that I 've read that helped me tremendously were Attached (The New Science of Adult Attachment and How It Can Help You Find and Keep Love) and Psycho Cybernetics.
This was an amazing episode! Thank you so much team DOAC for bringing Marc on, and thank you Marc for your generosity in sharing your wisdom. This episode came at the perfect time🙏🏽
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
What a beautiful, informed and ubiquitous response to the handling of tough conversations (40:46 min) my goodnest, yes! thats what it is, pure and raw empathy, Marketers and Sales people are optimistic in nature, they are always going in expecting a positive outcome. I can now imagine if you had to ask them to deliver bad news,,,, they'd probably design a campaign around it just to prepare a soft landing. Kudos to the presenter for the way he asked the question.
I watch the podcast everyday, this is my first ever comment. This was a great episode. It's unbelievably valuable. Obviously all the episodes are great, but this one is top notch
Worth 1000 MBA'S Steve......really thanks a ton for the podcast....you really have an absolutely amazing depth in your voice which makes the other person to reveal thier secrets and your questions are just spot on brother....love from INDIA❤
It is so great to have some real entrepreneur content on this channel again. The lifestyle stuff is cool but for me this is what the show is all about. Titans of industry open up to Steve because he's been on their journey. That's the unique appeal of the Diary of a CEO for me. More please!
Agree! This episode is the literal definition of "Dairy of a CEO", a golden one that learnt and reflected and more importantly, shared openly, not glorified
One aspect I admire about Netflix's approach to running the company is their understanding of who builds their competitive advantage. They offer top salaries to attract talented engineers and UI/UX designers. Imagine being just a simple streaming platform, they’ve positioned themselves alongside tech giants like Meta, Amazon, Apple, and Google as a gold standard for engineers and ui/ux designers to aspire to work for.
to every STAR aspiring entrepreneur looking for a SIGN to start their great journey. THIS IS IT! THE IDEAS IN YOUR HEAD EXIST FOR A REASON. YOU CANNOT ALWAYS BE THE BEST BUT YOU CAN ALWAYS DO YOUR BEST!!! NOW GO GET THEM, SOLDIER!! LOVE AND LIGHT.
He says his big regret is that he didn’t think of the idea to do the subscription model before 2 years, but the real beauty of it was that his idea came at the same time that DVDs were really gaining momentum. Would Netflix have survived if they were sending VCR tapes through the mail instead? That is a huge question that I’m not so sure they would have made it work!
They started Netflix when the DVDs started, as a pay per day of rental system, but the no late fees monthly subscription model was started much later. He was referring to that.
Netflix teaches us key business lessons: innovate constantly, prioritize customers, stay agile, make data-driven decisions, invest in quality content, and think globally!
One of my favourite episodes so far. Marc communicated his success and challenges with grace and humility, and I saw something different in Steve’s expression as he was listening too that made me wonder what he was thinking.
Imagine paying for your work and college, rent, food, utilities, and having no time with your family friends self, but have to be grateful for making one individual a lot of money
2008 I was living in Denver and saw my first RedBox outside of McDonalds. then my friend showed me Netflix. He loved it because you could get up to 3 DVDs at a time and replace them in 2-3 days if you mailed them back fast enough. He was supper excited about the idea of a new movie each night after work....
“They’re not failures, they’re tests that didn’t work” excellent way of thinking but not if you have all to loose. Great topic, don’t get me started on subscriptions i have only had Netflix 2 yrs hardly watch it 😮
I didn’t hear it that way. I heard that it was the quantity that was the issue. To much empathy leads to not doing what is needed emotionally. It was hindering him not helping. Like a parent that never punished their kids because punishment feels bad. Bad team members must be corrected quickly or let go. If empathy was stoping that process or even slowing it down that’s not good. And the meeting shows this. His partner notice the failure and addressed it no matter how it made them feel. And it was for the better.
@@centurialinc And where has it gotten us as a society? People are more miserable as a whole than ever today. There's more division, we're working longer hours. Standards of living may have increased but I can assure you that happiness and overall well-being has signficantly decreased and the rise of most adults being on multiple forms of medication just to regulate their mood proves it. It's a very sad state of affairs.
@@universesixhit642 That people are more miserable is a flaw of humanity itself. Human life has absolutely never been this good. A thousand years ago, half your siblings would've died before you became an adult. You may easily have died from some random plague, or some random drought. The world has never been very kind. And kinder societies have never expanded very far... Making them meaningless to history. But anyway, one of the bigger problems is that humans judge their own worth and happiness by comparing themselves to others... And these days, you can easily see far too many people who may be doing better than you.
@universesixhit642 That isn't what's being applied today, mass layoffs aren't the proper level of analysis, the problem originated well before the layoffs or the rat maze, why aren't executives incapable of maintaining a healthy pace of hiring that isn't cyclical even when the business is stable, why aren't the failed executives laid off when they make repeated mistakes and allowed to instead gut the company's future eventually ruining it for absolutely everyone, workers, owners and the customers.
I think that Marc is such a wise self aware and honest person. He is also humble enough and increadibly mature to listen and understand to allow Reid to be CEO...That takes incredible strenght especially how complimentary he is about Reid. His fighting for balance in life. What a fantastic lesson from a great person...
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 40, I am thrilled to share that my passive income exceeded $100k in a single year for the first time. This success reinforces the importance of the advicmonth e mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
I loved how Mark emphasized the importance of humility and being open to feedback. It's so easy to get caught up in our own ideas and lose sight of what customers really want.
I could listen to Marc speak all day. Such a genuine person with an incredible journey. Thank you for your honesty. Thank you for sharing the ups and downs of being an entrepreneur.
that opened my eyes in so many ways. I can't thank you enough. In general, this podcast format gave me so many ideas and helped me develop my personality
This was such a good talk - I'd go as far as saying the most inspirational DOAC so far. Marc is such a genuine person - I don't think I have heard such a successful CEO be so humble in everything he said and the way he said it. I had kinda come to believe you need to be of a dominant, even selfish style to succeed as an entrepreneur, but Marc just crush that. You can be successful and nice! Steven - awesome job, you got the very best out of Marc.
Diary of a CEO has always been one of my favorite podcasts because of the content and Steven's questions, but I gotta say, I have definitely noticed in increase in production value. Cinematography and shots lookin super crisp. Great work to the production team!
What a quality human being to get to spend time with. Thank you so much for this awesome interview/chat.. and letting him just speak and not interrupting him and thereby losing out on any gold nuggets from all his wisdom and experience ❤❤❤❤
Steven you are always inspirational! We see your vision in both doac and Flight studio, that's why we made for you a video about why we'd like to join, we hope you'll see it!
The problem with late fees is not even the punishment from the vendor, it's the discomfort of feeling you missed the date, of remembering you have that stuff rented the days you already owe it but have no time. People hate feeling guilt. Even the expectation that you might be late, the necessity to keep track of the time you are renting, people are too busy with other stuff to be bothered. PS Thanks for this great conversation!
He is in a good position, I’d say. If you weren’t a friend of your boss or your skip-level manager, you would be doing a lot of work to free up their friends to do the meaningful tasks.
What a Masterclass in Startups. The Prototype Modeling and 1st Sale are magic. I've done it using a 3D modeling app and some copywriting on a sales page. That company (1990) ended up with millions in sales and 50 employees. Thanks to this podcast, I'm headed back to that aproach STAT!
First, this is my go to podcast, so a super fan here. Commenting is something I have never done as I am a very private person, and this is completely not my area of expertise, but I got the sense from some of Steven’s follow up questions during the interview, that he was working through a list of pre-prepared questions that he had to ask, rather than rolling with the last answer from the guest. Almost as though there was a little impatience from our host that day…Just an observation, which may be used constructively if taken in the vein it is being given. Otherwise, thanks for the great guests and content DOAC team ❤.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly... Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them..
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Nuggets 1. Get many experiences, u'll need them to solve business problems. 2. Generate many ideas 3. Don't do business plans, Test your top ideas cheaply instead. 4. Be brutally honest with yourself 5. Culture is the way senior management treat eachother. That creates a model for the next 10people and the next 100 and the next 1000. 6. Life work balance is possible. Its a choice Dad's advice 1. Do 10% more than what's asked of you 2. You can be successful and be a decent guy 3. Don't argue on what you don't have facts for. 4. The only sometimes is thru.
If this interview was written into a book, it would be a best seller. Thanks for the incredible CEO stories and lessons Marc Randolph. It was a Gooooood one DOAC
I listened to 'That will never work' many times than any book in my. I am blocking out time for uninterrupted listening for this on. Zambia 🇿🇲 in the house
There are so many great pieces of wisdom in this episode. I need to rewatch it and write them all down. Just the latest one that comes to mind is his analogy of sprinting for the plane or not. Most of the time it’s something about the fundamentals that you got wrong weeks or months ago that lost you a deal.
Wow, such a fascinating story. Really enjoyed hearing about the whole history, he's a great storyteller. I remember the Netflix envelopes coming in the mail back in the 90s. It was a game changer back then. Just drop the envelope in the mail, postage already on there.
I love that one of the themes here is about forming and building the right relationships, up and down, and building them on values that you do not and will not violate; another is clear and appropriate communication; and another being appropriate knowledge about skills and abilities, including about oneself, in terms of pursuing and actualizing you goals; and the final one being that the most successful ideas are reality-tested and testing this should always aim to be more simple, pragmatic and (relatively) inexpensive.
From $10K to $110K, that's the minimum range of profit return every week. I think it's not a bad one for me, now l have enough to pay bills and take care of my family.
i just want to say that i'm grateful for this channel. to be sitting on my butt at home, listening, watching, gaining wisdom from a successful person living miles way. Thank you as always.
This conversation is highly empowering. I learned so much here that I will review and watch for months. Many thanks for sharing and for communicating clearly and compassionately with each other. Cheers.
@@marshmccarthyContent (strategy) is almost 100% different. They used to license big ticket movies and series, them then incumbent launched their own streaming services, so Netflix had to start producing their own content. Some love it, some hate it.
This is a masterclass in entrepreneurship and business, period! I recently cam up with a framework to testing and validating ideas super quickly. The framework prevents me from falling in love with the idea until it has been validated. Love this podcast!
I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor. I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next. Is now the right moment to buy stocks, or should I wait for a better opportunity?
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
Sharon Marissa Wolfe is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
![BRASIL vs. URUGUAY [1-1] | RESUMEN | ELIMINATORIAS SUDAMERICANAS | FECHA 12](http://i.ytimg.com/vi/-hWBAuxF1eY/mqdefault.jpg)
The DOAC subscriber raffle is staying open until we hit 7 million subscribers where we will announce money can't buy prizes... If you're subscribed to the channel you're in the raffle, we will be picking subscribers at random 🎉 Good luck!
1:30 Max mistakenly heard “ Diversity Raffle” the first time and thought “WTF?!!” 😅😅😅
@@TheDiaryOfACEO We also won and hope so much to have a chance to talk with you, it would be our greatest moment! Thank you for doing this!
Wish I could win been subscribed for a while now
Hi @TheDiaryOfACEO this appears to be an interesting interview thank you 🙏
15 Million to purchase the pedo company? WOW!
That was powerful when he said "We only care that you get the job done and if you can do it by only working 6 hours a week then more power to you". That is very appealing to most people.
This is something that made sense to me since I entered the work force. I could never work for an employer who made me do pointless tasks because I was on the clock.
Sounds nice for their branding (which is the reason they say that) but doesn't work like that in real life. The work they give you will require much more of your time so you will end up working hard anyway
😂 it does not work like that! I worked for several big companies. If you can do your tasks in 6 hours, it means you are reliable & good at your job. You will just receive more tasks 😂 But there are always guys who will do the tasks you do in 6 hours in 2 to 3 working days. They will not receive more taks, belive me. You will be the person who will get overworked 🥂 cheers to the effecient employee!!!
I’ve done this throughout my entire mgt career and it depends a lot on being a successful middleman, which many are not. You have to sell executive mgt. on the fact that the goals will be met as promised, and ensure that those goals are easily attainable by your team so they can attain them with a reasonable/minimal amount of work. This applies mostly to knowledge work.
That sale is more an art than a science.
This is ridiculous. The tasks necessary to keep a business running are never ending. Everyone who’s held a job for any length of time knows this.
Marc spoke to my MBA class and I couldn't believe how real he was. He wasn't trying to cultivate some persona, he was just an entrepreneur with a ton of experience. He was an open book. It was refreshing and inspiring! Thanks Marc!
Sounds like he really left his Marc on you!
This has been a masterclass in entrepreneurship!It’s a powerful example of how entrepreneurship involves a blend of vision, adaptability, and strategic decision-making!
And living off of hard work of others while claiming that you didn't put in any! Nice.
This guy seems like the perfect boss, gives people freedom to be creative and accountable, flexibility to live life around work, inspire you to develop professionally and just generally understanding. Just ordered his book to learn more. Great podcast.
Check out: Yvon Chouinard - "Let My People Go Surfing" 2006
- Flextime scheduling
The real deal boss doesn’t have people working for him/her, they work with him/her as a team.
The boss is there to serve them and make them be their best everyday day.
@@sogcezar aka Communism, or at least what some think it may be ...
So perfect that if you extrapolate your theory above that he will be happy to pay you for simply being ... you.
@@cy-villian Funny how this is associated with communism, a regime that when put on action ends with dictators leading the country xD
Definitely one of the best podcast episodes I’ve ever watched. As a young entrepreneur in Africa, this just super inspired me. Thank you Steve and Marc 🙏🏾
stop wasting your time here and get to work. It´s the best advice you will get
51:35 "I stopped searching for a way to do it that doesn't hurt". What a profound statement.
YUPPPP!!!🔥🔥🔥🤬💪🏾
@@jcc8206the end is nigh
probably one of your best podcasts.somebody said it in the comments above 'this is a good man'.
obviously he is very smart,creative,bold,perseverent but what is indeed striking is exactly that the guy is honest,humble,human.we do not appreciate it as much as we should.being a good person.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
The rich Invest in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment...
I thought about investing in the real estate market, I heard that people make millions , but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $460,000 but it's hard to bite the bullet and do it. Money is hard to come by
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Fantastic! Can you share more details?
Can't believe these valuable pieces of advice are provided for free. As a young entrepreneur in Vietnam, trying to navigate all the challenges of starting a business, I'm deeply grateful for your time and efforts in making all this happen. I've learned a lot from this episode.
I have an MBA and I hope Business Schools use your podcasts for teachings. You provide the best free education through dialogue exchange. Thank you.
The mainstream advice on making money is overrated. The best thing you can do is invest in your own knowledge. Books are the ultimate learning tool. For instance, The Hidden Truths Of Wealth by Oliver Mercer gave me the foundation to start my first business and separate myself from 90% of people.
Can I ask what is your need to separate yourself from 90% of people?
Because he did not brush his teeth and shower. He will be back.
Tai lopez told us all this when he showed us his lambo in his garage but made it about the bookshelf behind him.
I don't normally comment but watch a lot of DOAC videos. I Wanted to say that some of the topics in other videos seem off track in regard to the podcast's intent, and that this interview was what I originally came to this channel for. The questions were directed towards the highs and lows of the business and did not stray too far off course with unrelated topics. MORE OF THIS PLEASE.
And I am a subscriber precisely for the "unrelated topics" that go "off track" so you can't please everybody
Thanks for this wonderful opportunity I got through your channel and I love and appreciate your words of encouragement.
You will miss a lot of good opportunities to make money online if you don’t have money.
As a new beginner you surely need a professional to assist you through this processes.
How can I reach her ?
This is her WA. Line..👇👇
🇺🇸+1
Marc comes across as a very modest, reflected and honest person. I also learned a lot from the episode.
He once talked about the book Forbidden Laws of Wealth by Victor Hayes and can’t believe how underrated it is. The insights in this book are game-changing definitely deserves more attention!
I got it, truly a good book
I heard about that
@@meditim2032 it's you again. I see you've found a new genre to try and scam.
Warning, don't Google this book. This is a scammer.
This guy has hundreds of bot accounts to like his own comments, its a scam people, dont fall for it.
I think I learned more about how to be an entrepreneur from this talk than in my two year business studies course!
I've listened to 10,000 of these same interviews about business, but without money and without an environment it's impossible to do anything.
Best thing about RUclips!
My life and career has nothing to do with entrepreneurship or business BUT, I was glued to every word he said! There was SO much incredible wisdom and inside information about how businesses start and the ups and downs of trying to make them a success. He is a great communicator and a super nice guy!
I’m also old enough to remember joining Blockbusters when they first launched… and yes, I HATED the late fees.😂..
He sure is and real nice of him to invest in Meghan Markle and Prince Harry
And the fees if you didn’t rewind! “Be kind, rewind”
I like these ceo interviews better than the health ones that are already everywhere.
He's an amazing story teller I could listen to him talk all day, so enthusiastic and engaging! Great guest with great stories 👏
He has a gentle strength and business acumen that I wholeheartedly applaud in this day and age. Marc is so authentic, humble and honest!
You know we currently have Netflix in our house. I was a massive fan of Blockbusters. Weirdly, I have never heard of Marc Randolph. Absolutely love his authenticity, honesty and candour. Thank you Steve and Marc for another epic episode.
Hard work doesn't matter. Struggles build an empire, do your best, leave the rest to the universe. Netflix literally proved that. Great interview, great conversation. I appreciate both of you Steven for doing it, and Marc for sharing.
I love the total honesty of this content and channel- always a very good watch . Mark comes across as someone I’d enjoy watching for
He and Reed Hasting (other founder), who I’ve met, are decent human beings and have loads of integrity. Love these interviews.
@ 1:40:40 "If success is nothing else it's the ability to be able to do the kind of things you want to spend your time doing" Love that quote!
Bizarrely I read your comment at the exact moment he said this... Must be profound
It's quite fascinating that you can learn and relearn so many things through another person's experiences but it takes ages for us to learn certain things from ourselves.
Yes that is correct. Because you see him in a third person view. Most people can't reflect or have a sense of out of their own body experience. Also people are too prideful to ask others how they are perceived. In their conversation he said that he didn't like to be criticised or shown from his colleague in the PowerPoint where he was wrong. It was only when he stepped down for the greater good that he was grateful that he diminished his ego. The same thing happened when he was mentioning his girlfriend in order to transition to becoming his now wife.
From my own experience I had a tremendous boost in skill when I was watching myself dancing. I am a bachata salsa dancer/instructor and saw the difference, in mannerisms and behaviour with people in general not only in skill. Therapy also works, talking to people and taking bad and good feedback works, journaling works, meditation works. Manifestation works. 2 books that I 've read that helped me tremendously were Attached (The New Science of Adult Attachment and How It Can Help You Find and Keep Love) and Psycho Cybernetics.
This was an amazing episode! Thank you so much team DOAC for bringing Marc on, and thank you Marc for your generosity in sharing your wisdom. This episode came at the perfect time🙏🏽
Steve you just blew my mind with this podcast. So many real-time takeaways. Speechless.
An idea is just an idea until you put it into action. The best lesson from this pod.
One of the best entrepreneur interviews ive seen. Man is a founder through and through.
This is the best crash course in Entrepreneurship I’ve ever watched. There is so much gold in this….
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
The very first time we tried, we invested $2500, and after a week, we received $19,750.
That really helped us a lot to pay up our bills
Started with $5,000 and Withdrew profits
$89,000
Alright thanks for the recommendation, but how do I reach her?
Sure! She interacts on what's Apk using the digit below👍👍
+1520
What a beautiful, informed and ubiquitous response to the handling of tough conversations (40:46 min) my goodnest, yes! thats what it is, pure and raw empathy, Marketers and Sales people are optimistic in nature, they are always going in expecting a positive outcome. I can now imagine if you had to ask them to deliver bad news,,,, they'd probably design a campaign around it just to prepare a soft landing. Kudos to the presenter for the way he asked the question.
I watch the podcast everyday, this is my first ever comment. This was a great episode. It's unbelievably valuable. Obviously all the episodes are great, but this one is top notch
Worth 1000 MBA'S Steve......really thanks a ton for the podcast....you really have an absolutely amazing depth in your voice which makes the other person to reveal thier secrets and your questions are just spot on brother....love from INDIA❤
It is so great to have some real entrepreneur content on this channel again. The lifestyle stuff is cool but for me this is what the show is all about. Titans of industry open up to Steve because he's been on their journey. That's the unique appeal of the Diary of a CEO for me. More please!
Agree! This episode is the literal definition of "Dairy of a CEO", a golden one that learnt and reflected and more importantly, shared openly, not glorified
Marc Randolph is such an amazing storyteller. His book 'That Will Never Work' is definitely one of the best things I have ever read!
One aspect I admire about Netflix's approach to running the company is their understanding of who builds their competitive advantage. They offer top salaries to attract talented engineers and UI/UX designers.
Imagine being just a simple streaming platform, they’ve positioned themselves alongside tech giants like Meta, Amazon, Apple, and Google as a gold standard for engineers and ui/ux designers to aspire to work for.
Steve is such a good listener that makes other person beside him talk his heart out
to every STAR aspiring entrepreneur looking for a SIGN to start their great journey. THIS IS IT! THE IDEAS IN YOUR HEAD EXIST FOR A REASON. YOU CANNOT ALWAYS BE THE BEST BUT YOU CAN ALWAYS DO YOUR BEST!!! NOW GO GET THEM, SOLDIER!! LOVE AND LIGHT.
He says his big regret is that he didn’t think of the idea to do the subscription model before 2 years, but the real beauty of it was that his idea came at the same time that DVDs were really gaining momentum. Would Netflix have survived if they were sending VCR tapes through the mail instead? That is a huge question that I’m not so sure they would have made it work!
It didn’t work. He answered your question here 13:38
They started Netflix when the DVDs started, as a pay per day of rental system, but the no late fees monthly subscription model was started much later. He was referring to that.
Netflix teaches us key business lessons: innovate constantly, prioritize customers, stay agile, make data-driven decisions, invest in quality content, and think globally!
They didn't keep customers in mind. I got rid of my Netflix account 🤌
Prioritize customers is such a meat riding quote. That is almost the last thing they do.
I don't think 3 different confusing sub tiers & randomly axing shows is "prioritizing customers"
And don't go woke or you go broke
Most of their content has been woke trash and they've been bleeding customers for a while now.
One of my favourite episodes so far. Marc communicated his success and challenges with grace and humility, and I saw something different in Steve’s expression as he was listening too that made me wonder what he was thinking.
What a lovely person, a truly good human with an amazing work ethic and you know without a doubt he has an amazing wife.
Imagine paying for your work and college, rent, food, utilities, and having no time with your family friends self, but have to be grateful for making one individual a lot of money
2008 I was living in Denver and saw my first RedBox outside of McDonalds. then my friend showed me Netflix. He loved it because you could get up to 3 DVDs at a time and replace them in 2-3 days if you mailed them back fast enough. He was supper excited about the idea of a new movie each night after work....
“They’re not failures, they’re tests that didn’t work” excellent way of thinking but not if you have all to loose. Great topic, don’t get me started on subscriptions i have only had Netflix 2 yrs hardly watch it 😮
Love his interview. It is very understandable to the general public and it’s not corporate speak all the way through . What a story!
Mark is a man I always wish to talk to face to face. He cares to everyone who works for him. A real humble man!
Very sad that in today's world that being empathatic in business is seen as a weakness.
The world needs a lot more of it.
I didn’t hear it that way. I heard that it was the quantity that was the issue. To much empathy leads to not doing what is needed emotionally. It was hindering him not helping. Like a parent that never punished their kids because punishment feels bad. Bad team members must be corrected quickly or let go. If empathy was stoping that process or even slowing it down that’s not good. And the meeting shows this. His partner notice the failure and addressed it no matter how it made them feel. And it was for the better.
@@centurialinc And where has it gotten us as a society?
People are more miserable as a whole than ever today.
There's more division, we're working longer hours.
Standards of living may have increased but I can assure you that happiness and overall well-being has signficantly decreased and the rise of most adults being on multiple forms of medication just to regulate their mood proves it.
It's a very sad state of affairs.
@@universesixhit642then do something about it?
@@universesixhit642 That people are more miserable is a flaw of humanity itself.
Human life has absolutely never been this good.
A thousand years ago, half your siblings would've died before you became an adult. You may easily have died from some random plague, or some random drought.
The world has never been very kind. And kinder societies have never expanded very far... Making them meaningless to history.
But anyway, one of the bigger problems is that humans judge their own worth and happiness by comparing themselves to others... And these days, you can easily see far too many people who may be doing better than you.
@universesixhit642 That isn't what's being applied today, mass layoffs aren't the proper level of analysis, the problem originated well before the layoffs or the rat maze, why aren't executives incapable of maintaining a healthy pace of hiring that isn't cyclical even when the business is stable, why aren't the failed executives laid off when they make repeated mistakes and allowed to instead gut the company's future eventually ruining it for absolutely everyone, workers, owners and the customers.
One of the most sincere, inspirational and uplifting podcast that I've heard in 2024. Definitely buying the book. Thank you 🎉
Oh wow today you interview the man who turned me into a netflix queen those days. . It's wonderfull to hear this soft spoken voice. Bless his heart.
I think that Marc is such a wise self aware and honest person. He is also humble enough and increadibly mature to listen and understand to allow Reid to be CEO...That takes incredible strenght especially how complimentary he is about Reid. His fighting for balance in life. What a fantastic lesson from a great person...
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 40, I am thrilled to share that my passive income exceeded $100k in a single year for the first time. This success reinforces the importance of the advicmonth e mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Fantastic! Can you share more details?
was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
I loved how Mark emphasized the importance of humility and being open to feedback. It's so easy to get caught up in our own ideas and lose sight of what customers really want.
This guest was just lovely, smart, thoughtful and insightful!! I really enjoyed listening to this interview!!
One of the best interviews at DOAC! Thank you! It sounds like the company was definitely built on hard work!
I love this channel so much! Thank you for all your podcasts! You are the best! ❤
I could listen to Marc speak all day. Such a genuine person with an incredible journey. Thank you for your honesty. Thank you for sharing the ups and downs of being an entrepreneur.
that opened my eyes in so many ways. I can't thank you enough. In general, this podcast format gave me so many ideas and helped me develop my personality
This was such a good talk - I'd go as far as saying the most inspirational DOAC so far. Marc is such a genuine person - I don't think I have heard such a successful CEO be so humble in everything he said and the way he said it. I had kinda come to believe you need to be of a dominant, even selfish style to succeed as an entrepreneur, but Marc just crush that. You can be successful and nice! Steven - awesome job, you got the very best out of Marc.
You did it again Steven, really good episode. Loved it!
Marc Randolph’s wisdom and experience has revolutionized both my business and personal life. Everyone needs to watch this episode…and take notes.
More guests like Marc please.
So glad to see an interview with an amazing business person ❤️ I know there have been a lot of health focused episodes, but I love these ones the most
This guy seems like such a good person. Has the same smile and happiness my grandfather had talking.
Diary of a CEO has always been one of my favorite podcasts because of the content and Steven's questions, but I gotta say, I have definitely noticed in increase in production value. Cinematography and shots lookin super crisp. Great work to the production team!
Of the many incredible and informative DOAC interviews I've watched, this is, without a doubt, one of my favorites! Thank you!!
❤😂 lol 😮😅
What a quality human being to get to spend time with. Thank you so much for this awesome interview/chat.. and letting him just speak and not interrupting him and thereby losing out on any gold nuggets from all his wisdom and experience ❤❤❤❤
Love this - "We only care that you get the job done and if you can do it by only working 6 hours a week then more power to you"
Unless you are MM or Prince Harry.
Loved this podcast. Learned so much about entrepreneurship and business. Will definitely be listening to it again.
The Diary Of A CEO, I cant stop watching your videos!
I have watched a lot of DOAC, but this has to be one of the best for business! Loved it
Steven you are always inspirational! We see your vision in both doac and Flight studio, that's why we made for you a video about why we'd like to join, we hope you'll see it!
The problem with late fees is not even the punishment from the vendor, it's the discomfort of feeling you missed the date, of remembering you have that stuff rented the days you already owe it but have no time. People hate feeling guilt. Even the expectation that you might be late, the necessity to keep track of the time you are renting, people are too busy with other stuff to be bothered.
PS Thanks for this great conversation!
He is in a good position, I’d say. If you weren’t a friend of your boss or your skip-level manager, you would be doing a lot of work to free up their friends to do the meaningful tasks.
He's moving about all over the place, and the sound is spot on. Bravo.
it's always inspiring watching your podcast Steve from 🇪🇹 Ethiopia
What a Masterclass in Startups. The Prototype Modeling and 1st Sale are magic. I've done it using a 3D modeling app and some copywriting on a sales page. That company (1990) ended up with millions in sales and 50 employees. Thanks to this podcast, I'm headed back to that aproach STAT!
He looks like Phil Spencer from Location, Location, Location. Now I can’t unsee it.
First, this is my go to podcast, so a super fan here. Commenting is something I have never done as I am a very private person, and this is completely not my area of expertise, but I got the sense from some of Steven’s follow up questions during the interview, that he was working through a list of pre-prepared questions that he had to ask, rather than rolling with the last answer from the guest. Almost as though there was a little impatience from our host that day…Just an observation, which may be used constructively if taken in the vein it is being given. Otherwise, thanks for the great guests and content DOAC team ❤.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly... Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them..
Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Could you possibly recommend a CFA you've consulted with?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Nuggets
1. Get many experiences, u'll need them to solve business problems.
2. Generate many ideas
3. Don't do business plans, Test your top ideas cheaply instead.
4. Be brutally honest with yourself
5. Culture is the way senior management treat eachother. That creates a model for the next 10people and the next 100 and the next 1000.
6. Life work balance is possible. Its a choice
Dad's advice
1. Do 10% more than what's asked of you
2. You can be successful and be a decent guy
3. Don't argue on what you don't have facts for.
4. The only sometimes is thru.
If this interview was written into a book, it would be a best seller. Thanks for the incredible CEO stories and lessons Marc Randolph. It was a Gooooood one DOAC
I listened to 'That will never work' many times than any book in my. I am blocking out time for uninterrupted listening for this on.
Zambia 🇿🇲 in the house
There are so many great pieces of wisdom in this episode. I need to rewatch it and write them all down.
Just the latest one that comes to mind is his analogy of sprinting for the plane or not. Most of the time it’s something about the fundamentals that you got wrong weeks or months ago that lost you a deal.
Wow, such a fascinating story. Really enjoyed hearing about the whole history, he's a great storyteller. I remember the Netflix envelopes coming in the mail back in the 90s. It was a game changer back then. Just drop the envelope in the mail, postage already on there.
Engrossed from the moment he opened his mouth. Awesome guest.
he's an incredible storyteller
I love that one of the themes here is about forming and building the right relationships, up and down, and building them on values that you do not and will not violate; another is clear and appropriate communication; and another being appropriate knowledge about skills and abilities, including about oneself, in terms of pursuing and actualizing you goals; and the final one being that the most successful ideas are reality-tested and testing this should always aim to be more simple, pragmatic and (relatively) inexpensive.
From $10K to $110K, that's the minimum range of profit return every week. I think it's not a bad one for me, now l have enough to pay bills and take
care of my family.
Damn that's huge. How do you make that
much ? l'm 37 and have been looking for
ways to be successful, please how??
What is it you do?
Oh, yeah. I was able to achieve that with the help of my coach /Mrs Sandra Maria Ferraguti❤️❤️❤️❤️❤️❤️
She's a licensed broker and successful
entrepreneur from the state.
Her top-notch guidance and expertise on
digital market changed the game for me.
i just want to say that i'm grateful for this channel. to be sitting on my butt at home, listening, watching, gaining wisdom from a successful person living miles way. Thank you as always.
Perfect start to the morning. Super inspiring!
your channel looks interesting. you’re also very beautiful. I like the one about changing your voice; something i’ve been interested
in. good luck
@@Mr_Boifriend ty!!
This conversation is highly empowering. I learned so much here that I will review and watch for months. Many thanks for sharing and for communicating clearly and compassionately with each other. Cheers.
My organisation is about to go broke. This podcast has given me hope.
Just bought the book. Have been following Marc for quite some time , and he always has amazing insights- a great person overall
Netflix is a shell of what it used to be
Why? What changed?
@@marshmccarthyContent (strategy) is almost 100% different. They used to license big ticket movies and series, them then incumbent launched their own streaming services, so Netflix had to start producing their own content.
Some love it, some hate it.
This is a masterclass in entrepreneurship and business, period!
I recently cam up with a framework to testing and validating ideas super quickly. The framework prevents me from falling in love with the idea until it has been validated.
Love this podcast!
I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor. I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next. Is now the right moment to buy stocks, or should I wait for a better opportunity?
The current market conditions may provide opportunities to increase revenues swiftly; however, experience is required to carry out such a plan.
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
That's impressive ! I could really use the expertise of one of these advisors. Any chance you could recommend one?
Sharon Marissa Wolfe is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Thank you Steven and team. This is vintage wisdom. Practical actionable advice for entrepreneurs.
Thanks Marc