Chapter 278 Netflix
This year Netflix has once again developed a library system that can intelligently recommend movies according to members’ preferences. It will greatly save users’ time and they do not need to search in a huge video library. Find your favorite movie.
This new feature has allowed Netflix users to exceed 500,000, and revenue has further increased.
In the five years since 1997, Netflix has gone through the most dangerous period of entrepreneurship. Our model has been verified and our foundation has been laid very solidly.
Just like a person has passed through the relatively fragile teenage period and is about to enter the youth period of stable growth.
I believe in a successful future for Netflix, just as I believe in a great future for you today.
Thank you, I'm done. "
Crash...
Warm applause rang out again.
The fat old man who went down before came up again.
"A very wonderful speech. Next is the communication session. Who has any questions to ask?"
Before the words could be finished, all arms were raised.
"Aha, it seems Mr. Hastings is very popular." The fat old man pointed, "The girl in black clothes in the third row."
A young black man The girl stood up excitedly, and someone from the student union next to her handed over the microphone.
"Hello, Mr. Hastings. I saw in "Silicon Valley News" that Netflix lost $60 million in the Nasdaq winter last year, and this year you lost $32 million. .
So, Mr. Hastings, is Netflix's operating model really sustainable? After all, this is no longer before the Nasdaq winter. "
"Hastings, this question is very acute. "
The fat old man smiled.
"It seems I should be careful in my answers. "After a bit of humor, Reed Hastings continued, "As the lady said, Netflix is indeed losing money now, but we should also see Netflix's losses continue to decline.
Why?
The reason is simple, our number of paying users continues to grow.
We have done professional statistics. When Netflix users exceed one million, our expenses and revenue will be balanced. According to Netflix's user growth curve, we will be able to achieve this goal by 2003 at the latest.
So, Netflix’s model can continue to operate and is very healthy. ”
“Mr. Hastings…. ”
The girl was about to continue, but was interrupted by the fat old man.
"Madam, time is precious, so everyone only has one chance to ask questions."
Although the black girl was a little unwilling, she still returned the microphone in her hand.
“Who’s next?”
Whoosh….
Another arm was raised.
"The gentleman in the fifth row wearing a white shirt."
A young white man wearing a white velvet shirt stood up excitedly.
"Mr. Hastings, does the library system developed by Netflix that can intelligently recommend movies according to members' preferences violate the privacy rights of users?"
"A very insightful question.
First, we need to understand what privacy is?
This is a seemingly broad concept, but we can simply understand it as information that you don’t want the second person to know.
So is your hobby private?
I think most people would deny it.
Because this is our common social means, I like basketball, I will join the school's basketball club or interest group; I like riding bicycles, I can join similar clubs.
Watching movies is the same concept.
Netflix is like a person, a friend. After he understands your preferences, he recommends movies you like. The purpose is to save your time and not for other purposes.
So, there is no privacy violation issue. ……Thanks. "
The white young man frowned. He always felt that something was wrong, but he couldn't say it for a while. In the end, he had to return the microphone in his hand.
"Let's take a look at the third one. Who is the lucky one? "
"The Asian classmate wearing a cyan jacket standing on the steps. ”
After the other party takes over the microphone.
“I would like to ask Mr. Hastings, is Netflix still accepting financing?”
Yes, the person asking is Xu Liang.
After Reed Hastings’ introduction just now, he finally remembered who Netflix was.
The global leader in streaming media, Netflix has a peak market value of nearly US$200 billion.
In China, people call them Netflix or Netflix, and the English name Netflix is rarely mentioned, so he didn’t think of it immediately.
When I just listened to Reed Hastings share his entrepreneurial experience, I suddenly remembered that it is so similar to Netflix, no, it can be said to be exactly the same.
Now that you have encountered such a super potential stock, there is no reason to miss it.
Such a question that was very different from others instantly attracted the attention of everyone around him.
Reed Hastings glanced at the other person, and he keenly noticed the difference in the other person.
Among the youthful students, he seemed too calm, with an indescribable temperament about him.
He is very familiar with this temperament, which is found in many successful entrepreneurs.
But the other person is too young, and his youthful appearance is no different from the students around him.
After pondering for a moment.
“Netflix accepts financing, but our business model is very mature, so the valuation will be high.”
In fact, he didn't have to say the rest of it, but he did say it in the end. Just when he was about to put down the microphone and finish his answer, the students in the audience suddenly became commotion, especially a few Asian faces who looked even more excited.
"Hongmeng Xu Liang!"
"He is Xu Liang, the founder of Hongmeng Company, the richest man in China!"...
Excited voices After it was converted into English, more people came to read it.
Of course Xu Liang also heard the sound, and couldn't help turning his head to look at Li Jiawei, "Are they also Hongmeng's interns?"
Li Jiawei shook his head, "No. But now, Mr. Xu, you are our Chinese youth People’s entrepreneurial idol, all Chinese students at Stanford know you.”
Xu Liang didn’t expect this.
At this time, even the dullest person can see that his identity is not simple.
Hongmeng is also well-known in Silicon Valley because of its valuation of US$2.8 billion half a year ago.
"This gentleman, please come to the stage."
The fat old man said.
Looking at the other person’s words, Xu Liang didn’t hesitate any longer.
After telling Huo Gang and the others not to follow, they stepped onto the podium.
Take the initiative to extend his right hand to Reed Hastings.
"Mr. Hastings, a very wonderful speech. I hope we have the opportunity to have dinner together next time."
Hastings doesn't know Xu Liang, but he knows Hongmeng.
"Thank you, I am very honored to receive Mr. Xu's invitation."
After Xu Liang smiled slightly, he turned to look at the fat old man next to him.
He doesn’t know the other person.
The latter Zhiji introduced himself as "Peter Elkind, Department of Computer Science, Stanford University."
"Xu Liang, founder of Hongmeng Company."
In his ears, Peter... Elkind's eyes showed excitement.
As one of the top Internet companies in the world, he is no stranger to Hongmeng Company. I also know that Hongmeng boss Xu Liang never accepts media interviews.
It’s such an unexpected surprise to be able to appear at Stanford this time.
After shaking hands warmly.
Voice of Peter Elkind.
“Let us welcome Mr. Xu Liang, one of the world’s largest Internet companies, the overlord from the East and the founder of Hongmeng Technology Company, with the warmest applause.”
Wow….
Warm applause broke out.
Although most people who study at Stanford University do not know Xu Liang, they all know Hongmeng.
The applause paused.
“Thank you, thank you for your welcome. I came here mainly to visit the best IT schools in the world, but I didn’t expect an unexpected surprise: I met Mr. Reed Hastings’s speech. .
From his story, I heard about Netflix, a good company with unlimited potential, and I sincerely hope that you can apply for jobs at Netflix or Hongmeng after graduation. I believe we will not let you down."
After saying that, he took a step back and handed the painting tube to Elkind next to him.
"Mr. Xu, this is a rare opportunity. Can you share your entrepreneurial experience?"
Xu Liang shook his head, "Today is Mr. Hastings's speech, so I won't overshadow it."
"Mr. Xu, I have said everything I want to say. In fact, I am personally very interested in Mr. Xu's entrepreneurial experience." Reed Hastings smiled.
Now that he said so, Xu Liang didn’t hesitate anymore.
Taking the microphone and speaking.
"I won't share my entrepreneurial experience. Every country has its own current situation, and the entrepreneurial environments in China and the United States are even more different.
What I say will not be of much help to you.
Let me briefly talk about my understanding of the Internet.”
After a pause, Xu Liang organized his language.
“Because of the cold winter of Nasdaq, the global financial and industrial circles are not optimistic about the future development of the Internet. But I am just the opposite.
Precisely because of the NASDAQ winter, I firmly believe that the future of the Internet is bright.
Because it eliminates speculators who are just trying to make money and play with concepts, squeezing the water out of the industry, and allowing those companies that are truly promising and can promote the healthy development of the Internet to stay.
This is progress.
Just like the human body, it will become healthier after the viruses in the body are eliminated. ”
In order to deepen the impression on everyone, Xu Liang affirmed.
"If we say that the first industrial revolution of mankind was the steam engine, the second was the application of electricity, and the third must be the popularization of computers and the Internet."
The categorical words have attracted more and more people to accept I didn't have any extra thoughts and listened carefully.
Xu Liang continued: "Maybe some people think I am exaggerating. But you also listened to Mr. Hastings's speech just now. Netflix has completely subverted the DVD rental industry with the Internet.
I can conclude here that Netflix will completely replace Blockbuster and become the dominant player in the DVD rental industry. It won’t take long.”
Everyone’s eyes can’t help but focus on Reed Hastings. .
The latter picked up the microphone and smiled: "Thank you very much for Mr. Xu's praise. Netflix will do its best to move in the direction you want."
(End of this chapter)
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