Hola amigos! Happy Monday, hope we all had fabulous weekends. I successfully made it to Medellin, but not before I thought I’d lost my passport. After three hours of searching my suitcase and multiple taxis to-and-from the airport and my hostel, turns out my passport’s ‘safe place’ was the inside pocket of my suit jacket. Classic.
Today I’m visiting Comuna 13, which until 20 years ago was considered among the most dangerous neighborhoods in the entire world, due to infamous drug gangs and traffickers that controlled the city. It’s among the most fascinating and important transformations in modern times, so I’ll have more on that for you Friday.
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Today also marks 25 years since Netflix was founded. The speed at which Netflix has grown into the company it is today is truly amazing, and its influence on our culture and disruption to so many different industries is remarkable.
Aside from ‘Netflix and chill’ being one of the most-used euphemisms on the internet, Netflix was one of the first companies to change and dominate an industry with the subscription business model. Not only did Netflix help spur a spate of other online streaming services — YouTube Red, Hulu, Amazon Prime Video, Disney+ to name just a few — it also fueled the growth of the ‘subscription economy’ that’s become the dominant business model for so many organizations.
In 2007, Netflix saw what was coming down the pike pertaining to consumer behaviour, and switched from a movie rental postal service to online streaming. Today, more than 220 million of us around the world have a Netflix account.
I also find fascinating how life can serve up completely alternate paths based on different internal and external forces, and that also includes businesses. It doesn’t feel so long ago that some of us spent our weekends perusing the endless shelves of movies that the local Blockbuster had in stock.
But the folks at Blockbuster failed to adapt for the future quick enough and took with them their adorable fines for returning a movie late. They wound up declaring for bankruptcy in 2010, and strangely only one store remains open in Bend, Oregon? In a sick and ironic twist, it was the founders of Netflix who were originally rejected by Blockbuster to buy their fledgling startup for $50 million. Netflix is now worth almost $100 billion.
Part of that value is down to the number and type of industries it’s not only disrupted, but outright changed. From TV to film, documentaries to comedy specials, no other company has ever benefited global entertainment than Netflix has.
Here’s to Netflix.🥂
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