This Netflix Co-Founder Turned His Idea Into A Company Worth Over $100 Billion | Marc Randolph

In this episode of Impact Theory, Tom Bilyeu is joined by Marc Randolph. As co-founder and founding CEO of Netflix, Marc laid much of the groundwork for a service that’s grown to 150 million subscribers and fundamentally altered how the world experiences media. Tom and Marc explore how Marc managed to take action on his dreams and succeeded against all odds. Marc shares how he started Netflix and how they tweaked their business and stopped it from failing like most businesses. SHOW NOTES: The one-sentence Marc has heard 1000 times from his friends, his family, basically everyone when pitching the idea of Netflix. [1:24] The fundamental things Marc learned in his 50s while skateboarding that helped him build Netflix [3:25] How Marc started Netflix and how they tweaked the idea to stopped it from failing like most businesses. [5:27] The even better approach to “there are no good ideas” to generate winning ideas. [7:49] The single most fundamental problem why most people never take action on their ideas. [9:05] What separates an Entrepreneur from a dreamer. [9:46] The fundamental misunderstanding of Entrepreneurship and the deep-seated psychological fear everyone (even Marc) struggled with for years. [15:41] The idea of “two-way doors” Marc teaches young Entrepreneurs to practice to escape the traps of perfectionism and take immediate action. (And prevent them from taking too much risk.) [20:21] The fundamental truth about knowing what to test. [21:42] Where 98% of Netflix´s revenue did come from initially and why Marc decided to give up that revenue. [24:06] The skill Marc is good at, that he calls “the entrepreneurs secret weapon” [27:20] This brutal moment destroys most business relationships and how Marc handled this “big ego” moment. [32:48] Why the person who starts a company is not necessarily the right one to run it when it´s big. [37:58] The real challenge in Marc’s life that he is most proud of when he looks back. [41:10] How running for a plane taught Marc the right mindset to chill in the midst of chaos. [45:26] The core principles Marc instills in his kids. (Not what you think.) [52:07] Marc’s new podcast about how to take ideas and make them real. [54:40]  Check out our Sponsors Butcher Box: Ground beef for life is back! For a limited time, new members can get 2 pounds of free ground beef in every Butcher Box order by signing up today at ButcherBox.com/impact Athletic Greens: Go to athleticgreens.com/impact and receive a FREE 1 year supply of Vitamin D AND 5 free travel packs with your first purchase! Helix Sleep: Go to HelixSleep.com/impact for up to $200 off your mattress and 2 free pillows. Skillshare: Explore your creativity at skillshare.com/impacttheory for a free trial of Premium Membership. Are You Ready for EXTRA Impact? If you’re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you. This is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day. Subscription Benefits: New episodes delivered ad-free Exclusive access to Tom’s AMAs, keynote speeches, and suggestions from his personal reading list You’ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more: Legendary Mindset: Mindset & Self-Improvement Money Mindset: Business & Finance Relationship Theory: Relationships Health Theory: Mental & Physical Health Power Ups: Weekly Doses of Short Motivational Quotes  Subscribe on Apple Podcasts: https://apple.co/3PCvJaz Subscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices