The James Altucher Show

EP 67: Netflix Co-Founder Mitch Lowe - Stealth Success


Often many of the key people who help create great companies work behind the scenes, out of the publicity spotlight.   Mitch Lowe is one of these people.    As fate often has it, Mitch was working to develop another idea. While displaying at a trade show, he met Marc Randolph who happened to stop by his booth. After a long talk about DVDs Marc started to walk away. Mitch grabbed him by the back of his backpack and said, "Wait a minute, we should talk some more."    That "grab" changed his life, and Netflix was born.   James asks Mitch three things he's learned from building one of the most successful companies created in the last decade.   Mitch gives huge credit for the growth of Netflix to another of the original founders, Reed Hastings.   #1) Focus. Find that one thing you know you can absolutely be the best at and force yourself to drop all the others.   #2) Use analytics to make decisions. Use analytics directionally; don't worry about if they're 100% sure. Just use them to point you in a direction.    #3) Pour your money into those things that are working best. Cut medium to poor performers, whether that's people or ideas.   James asks Mitch why he left Netflix. You'll hear a story about a passion that he just couldn't let go of and felt he had to pursue.   From Netflix to McDonalds to Quarterly. co, Mitch has quietly helped many of today's best companies continue to grow.      You don't always have to be the "name" that most people associate with growing companies to be super-successful