Reed Hastings became executive chairman of Netflix in 2023, after 25 years as CEO. He co-founded Netflix in 1997. Reed is also a majority owner of Powder Mountain. He is currently on the board of several educational organizations including KIPP and Pahara.Timestamps for this episode are available below.Sponsors:AG1 all-in-one nutritional supplement: https://drinkag1.com/tim (1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase.)Wealthfront high-yield savings account: https://wealthfront.com/tim (Start earning 5% interest on your savings. And when you open an account today, you’ll get an extra fifty-dollar bonus with a deposit of five hundred dollars or more.)Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business: https://shopify.com/tim (one-dollar-per-month trial period)Timestamps:[06:34] Alfred Lee Loomis and Tuxedo Park.[07:53] Risk tolerance: nature or nurture?[10:56] Cultivating culture that “eats strategy for lunch.”[15:41] The logic behind generous severance.[17:02] Adapting to Pure chaos.[18:44] Reference checking potential hires.[20:29] Context vs. control.[22:35] Radical candor.[24:15] Guardrails for maintaining work/life balance.[27:04] Farming for dissent.[28:39] Believing in the green crystals.[30:54] High-performance team, not family.[31:59] The keeper test.[32:49] Fire and replace, or replace and fire?[33:59] Beyond Entrepreneurship and other recommended reading/viewing.[37:46] A favorite failure.[40:32] Outstanding leaders.[41:10] Reed’s two “religions.”[42:19] Powder Mountain.[44:44] How Powder Mountain differs from Reed’s other projects.[46:24] Powder Mountain’s biggest challenges ahead.[47:02] Could Reed ever really retire?[47:19] Best investments of time, energy, or money.[48:49] How can we improve education in the US?[52:48] What class would Reed teach?[53:59] Juggling projects without losing focus.[55:04] Philanthropy: Why Africa?[55:32] Being “big-hearted champions who pick up the trash.”[56:28] Reed’s billboard.[58:01] Parting thoughts.*For show notes and past guests on The Tim Ferriss Show, please visit tim.blog/podcast.For deals from sponsors of