Gotta hand it to Reed Hastings, CEO of Netflix, the ingenious all-you-can-watch mail-order DVD service. He’s not one of these people whose idea of sacrifice includes everybody but himself.
I’ve always liked Hastings and the Netflix idea. I did a couple of stories on the company when they were first starting out, back when the skeptics were constantly saying, “Uh, Reed, there’s a Blockbuster Video store every 220 feet in America.” But Hastings and Co. built a deep, quality library that no bricks-and-popcorn Blockbuster could match. (Try finding a movie they don’t have here.)And now they’re ready to lead the way in streaming flicks to the home screens.
I liked the Netflix idea so much I was an early investor in the company back when I was investing. Talk about a rocket ride. My only regret is I didn’t buy 50,000 shares instead of 500.
Anyway, awash in all those DVD dollars, Hastings now calls for huge tax increases on him and his CEO buddies. He explains this apparently masochistic move here.