PG's commentary is interesting but I think he is leaning towards an unsatisfactory conclusion. He's trying to simplify management into modes but in reality life is more complex and nuanced.
Chesky's experience instead says to me that as managers we should be be wary of all advice and management styles and playbooks. For sure it's good to listen to advice and learn about management but life and managing a business are so much more complex than any set of rules or observations can describe.
In fact, since every organization's situation is unique, then managers should take all advice and accepted wisdom with a pinch of salt and forge ahead with their own unique set of principles for their own unique set of challenges. This is what Chesky deduced.
I would also go one step further and assert that it's a positive sign if a founder goes against the grain and breaks the rules - success is more likely than if they follow the established way of doing things. This is innovation.
Perhaps this is the 'founder mode' that PG is trying to uncover: think different.
This was my takeaway too. We are all different, in the skills we bring to the table and the problems in front of us, and a good leader is self aware and discovers the solutions for their problem, not blindly copy someone else’s.
Has the company not already declined? I've been subscribed for years, but I cant remember the last time I watched something on it. The next time I do a round of canceling subscriptions, there is a very real chance it's gone. I have so many other subscriptions, I'm just not sure it's important enough to me anymore to make the cut.
I'd argue decline lags value fundumentals. Sears decline took decades. The early metric is probably "viewer hours" per customer or some use base metric. That will probably dip before the revenue dips.
Zoom out on the chart. Sear's stock looks nothing like Netflix. Sears was killed by totally different circumstances.
We're at covid peak ATH again. Anyone who bought the dip in 2022, is looking like a genius with fantastic gains.
The more money Netflix has, the more they invest into better content. People look at the base metrics, which is why they are investing... along with a healthy dose of dump money into stonks that are earning more than interest rates. Once the fed starts to cut rates, things go even higher.
I don't think Netflix is for you and me. I can't remember the last time I watched a Netflix show. The content is bad, the UI is bad, everything is bad compared to what I remember of the early Netflix days.
_But_ the stock is way up and their subscriber count keeps increasing. They have obviously found a formula that keeps the masses happy. And they are succeeding despite heavy competition. Can't argue with the facts.
But, I predict that once Reed Hastings leaves Netflix, the company will begin to decline.