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Netflix's co-founder talks about hiring and the mistakes companies make
- Netflix co-founder Marc Randolph advises companies to be cautious in hiring and to hire only when absolutely necessary, citing the importance of focusing on company needs and execution.
- Randolph emphasizes the need for companies to identify significant capability gaps before hiring, highlighting that many companies go out of business due to running out of money rather than a lack of hiring.
- He also emphasizes the importance of balancing strengths and weaknesses, highlighting the value of diverse perspectives in complementing skill sets.
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Netflix under I-T scanner, facing tax liability in India for streaming services income: Report
- India's tax authorities are reportedly imposing a tax on the income generated by Netflix in the country.
- The tax authorities have attributed an income of approximately $6.73 million to Netflix's permanent establishment in India for the assessment year 2021-22.
- This move is part of India's efforts to regulate the digital economy and ensure that foreign companies pay taxes on the revenue they earn in the country.
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Netflix loses 1 million users as a result of crackdown on password sharing
- Netflix loses over a million users in Spain in Q1 2023, according to Kantar research group.
- The streaming giant's crackdown on password-sharing could backfire as two-thirds of the users who discontinued their subscription were sharing their log-in details, says Kantar's global insight director.
- The introduction of a monthly fee for users who share their log-in details with another household and technical measures to detect such sharing caused a steep drop in users, according to Kantar's research.
- Subscription cancellations in the first quarter tripled compared to the previous period, and one-tenth of remaining Netflix subscribers in Spain plan to unsubscribe in Q2.
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India a big prize, have to get pricing and payment methods right: Netflix co-CEO
- Netflix's co-CEO Ted Sarandos sees India as a big prize and important for the streaming giant to get pricing and payment methods right.
- A price reduction in December 2021 increased user engagement by 30% and revenue growth of 24% in 2022 compared to the year prior.
- Netflix slashed prices in India by 20-60% across its plans in December 2021 amid competition from other streaming platforms.
- Sarandos notes that India is a specific market where viewers like local content, but a lot of Indian content is also popular worldwide. Netflix aims to invest and do great in India in the long run.
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Netflix Down For More Than 11,000 US Users
- Netflix experienced an outage on late Sunday, affecting over 11,000 users in the US and delaying the streaming of 'Love is Blind: The Live Reunion', its second-ever live event, by more than an hour.
- After experiencing further glitches, Netflix issued an apology on Twitter at 9:30 pm (ET), informing users that the show was being filmed at that moment.
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'Refused Amazon's offer to buy Netflix 25 yrs ago', says Co-founder
- Netflix's Co-founder, Marc Randolph, revealed in a tweet that the company had rejected an offer from Amazon to buy Netflix for $15 million, 25 years ago.
- Randolph stated that the decision was made because the company was onto something and had finally gotten the engine to turn over. They were not ready to give up the reins to someone else.
- The decision turned out to be the right one as Netflix is now one of the largest streaming services in the world, with a market capitalization of over $200 billion.
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Had ideas on customised dog food, bats before Netflix: Co-founder Marc Randolph
- Netflix co-founder Marc Randolph shared his previous business ideas on Twitter, including personalized shampoo, customized baseball bats, and customized dog food.
- Randolph admitted he believed these ideas were better than Netflix's eventual idea, highlighting the gradual and iterative nature of developing a successful business concept.
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Netflix faces backlash for showing Princess Diana death scene
- Netflix faces backlash for replicating the mangled Mercedes that Princess Diana died in for a controversial scene in The Crown - Season 6.
- The makers had earlier insisted that they will not create the "exact moment" of the tragic Paris car crash that killed Princess Diana in 1997.
- The streaming giant previously faced criticism for confusing truth with fiction in its storylines.
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Netflix's 'Pornhub' documentary sheds light on the adult Industry
- The new Netflix documentary "Money Shot: The Pornhub Story" explores the rise of the porn industry and the controversies surrounding Pornhub, including anti-porn and anti-sex work movements.
- The documentary features interviews from those within the industry as well as those who oppose it, offering a fair yet clear look into the growing censorship battle and the role of porn performers in this battle.
- Performer Siri Dahl notes in the documentary that the attack on porn is also an attack on women's and queer sexuality, as well as on people's ability to express themselves openly online.
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Netflix streaming down for thousands of users: Downdetector
- On Thursday, Netflix's video streaming service experienced an outage that affected thousands of users, according to Downdetector.com.
- The website received around 1,800 reports from various sources, with 55% of users reporting issues with the Netflix website.
- Despite the outage, Netflix remains a leading and dominant streaming service with over 200 million paid subscribers globally. Netflix has not yet commented on the outage.
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Netflix accidentally reveals password-sharing rules, quickly removes
- Netflix accidentally launched guidelines for its measures to curb password sharing globally, but they have since been taken down.
- The measures, already tested in a few South American and Central American countries, require users to connect their device and open the Netflix app every 31 days.
- Critics argue that making it difficult to use the service may result in losing more subscribers, especially since the company lost 200,000 subscribers last year.
- Netflix has introduced several methods to recover from the loss, including the crackdown on password sharing and cheaper ad-supported plans, set to go live worldwide in Q1 2023.
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