Netflix co-founder Marc Randolph credits stepping down as CEO in 1999 as a key factor in the company's success.

Netflix co-founder Marc Randolph credits stepping down as CEO in 1999 as a key factor in the company's success, calling it "probably the smartest decision I ever made." Co-founder Reed Hastings suggested Randolph take a COO role, citing weaknesses in judgment and problematic hires. Randolph initially resisted but ultimately agreed, leading to Netflix's prosperity, IPO in 2002, and a current market cap of $298.58B.

August 28, 2024
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