That Will Never Work Summary

Summary of That Will Never Work Book by Marc Randolph

Name: That Will Never Work
Rating: 4.6 (3118 reviews)
Author: Marc Randolph

4.6 . 3118 reviews

Short summary

That Will Never Work is a memoir based on the events that happened to Marc Randolph more than 20 years ago. Marc discusses the personalities of Netﬂix’s founding team as vividly and as accurately as possible. He also reveals what Netﬂix was up against in the past years and how they succeeded despite the odds. Marc Randolph is the co-founder of Netﬂix. He served as the first executive producer of Netflix’s website, CEO, and a member of the board of directors until his retirement in 2004. Additionally, he has founded or co-founded more than half a dozen other successful startups, mentored rising entrepreneurs, and invested in numerous successful tech ventures. Marc frequently speaks to companies and at industry events nationally and internationally. “Success is what you achieve; it’s being in a position to do what you like, do what you do well, and pursue the things that are important to you.” ~ Marc Randolph

16 min

10 key points

10 insights

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Table of content

Summary of That Will Never Work
About the author
What is That Will Never Work about?
Who should read That Will Never Work
Topics in That Will Never Work

first key point

Inside information on one of the most leading companies in the world

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00:00

Every successful company had days of small beginnings. Netflix didn’t begin from a spontaneous thought, that is, a point where everything happened at once. More importantly, the idea for Netﬂix didn’t appear in a ﬂash; it came out of a thousand bad ideas.

Netflix, one of the world’s largest media companies, came from the desire to start a business and sell on the Internet.

This summary is a story about how Marc and his team went from the idea of selling personalized shampoo to Netﬂix and from a dream to concept to a shared reality. It is about how the things they learned on that journey changed their lives.

This summary also answers some fundamental questions about taking a leap of faith in business or life. It reveals how to begin a business, how to weather disappointments and failures, and how you can deal with success. Marc shows how to generate ideas, build a team, and when it’s time to let go.

When an opportunity comes knocking, you don’t have to open your door; but you should try to look through the keyhole. ~ Marc Randolph

second key point

Netﬂix wasn’t borne out of a moment of divine inspiration; it took a long process

In 1997, Marc sold his startup company called Integrity QA to his friend Reed Hastings. After Reed bought the company, he kept Marc on as his VP of corporate marketing. For 4 months, the two companies were undergoing a corporate merger. Marc found himself in a redundant state alongside Reed and two other staff, Christina Kish and Te Smith. Marc and his friends were still going to work every day, getting paid, but had nothing to do. At ﬁrst, Marc ﬁlled his time with athletic pursuits, but he knew he wanted something more purposeful. Hence the ideas for a new company. He kept a little notebook of ideas in his backpack and carried it with him everywhere he went. Marc wanted to start his own business, and he wanted it to involve selling things on the Internet.

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third key point

Telling people about your idea will help reﬁne it and make them interested in being part of your story

fourth key point

Other People’s Money: the most important principle of starting a company

fifth key point

Netflix has a culture of freedom, responsibility, and radical honesty

sixth key point

Startups need support to withstand many of the issues they encounter

seventh key point

Your dream goes beyond raising funds or customer conversion; it’s a pursuit that gives your life meaning

eighth key point

Netflix: a culture born out of raised voices, argumentative meetings, and blunt statements about how an idea wouldn’t work

ninth key point

Layoffs: The cost of turning a DVD by mail idea into a publicly-traded company

tenth key point

Conclusion

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What is That Will Never Work about?

"That Will Never Work" is a captivating memoir that delves into the birth of Netflix and the incredible journey of an idea. Written by Marc Randolph, one of the co-founders of Netflix, this book takes readers on a rollercoaster ride through the highs and lows of building a groundbreaking company. With candid anecdotes and valuable insights, Randolph shares the challenges, triumphs, and pivotal moments that shaped the streaming giant we know today.

Who should read That Will Never Work

Entrepreneurs seeking inspiration from the birth of a groundbreaking idea.
Technology enthusiasts interested in the evolution of streaming services.
Business professionals looking for insights into successful startup strategies.

Topics in That Will Never Work

Business Management Entrepreneurship Startup Leadership Innovation Marketing Strategy Sales Financial Independence Self-Help for Women Digital Transformation Advertising Customer Service Product Development Career Development

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