My 1999

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 can find their favorite movies without having to search in a huge library.

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 starting a business. Our model has been verified and our foundation has been laid firmly.

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. "

Wow….

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. Does anyone have any questions?"

Before he finished speaking, all of his arms were raised.

"Ah ha, it seems that Mr. Hastings is very popular." The fat old man pointed, "The girl in black clothes in the third row."

A young black 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 during last year's Nasdaq winter, 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 is a tough question."

The fat old man smiled.

"It seems I should be careful with my answer." After a humorous remark, Reed Hastings continued, "As the lady said, Netflix is ​​indeed losing money now, but we should also see that Netflix's losses are continuing. decline.

Why?

The reason is simple, our number of paying users continues to grow.

We have made professional statistics and found that when Netflix’s 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.

Therefore, the Netflix model can continue to operate and be 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 reluctant, she still returned the microphone in her hand.

"Who's next?"

Uh-huh….

Another arm went up.

"The gentleman in the white shirt in the fifth row."

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 based on members' preferences violate the user's privacy?"

“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 basketball club or interest group; I like cycling, I can join similar clubs.

The same concept applies to watching movies.

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.

Therefore, there is no privacy violation issue. ……Thanks. "

The young white man frowned, feeling that something was wrong, but he couldn't explain it for a while. In the end, I had to return the microphone in my hand.

"Let's see who the third lucky person is?"

"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 who asked was Xu Liang.

After Reed Hastings’ introduction just now, he finally remembered who Netflix was.

Netflix, the global leader in streaming media, 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 listened to Reed Hastings share his entrepreneurial experience just now, I suddenly remembered that it was so similar to Netflix. No, it could 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, which was very different from others, instantly attracted the attention of everyone around him.

Reed Hastings glanced at the other party, and he keenly noticed the difference in the other party.

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 was too young, and his youthful appearance was no different from the students around him.

After pondering for a moment.

"Netflix accepts financing, but our business model is already 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!"...

After the excited voice was converted into English, more people looked over.

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 the entrepreneurial idol of our Chinese young people. All Chinese students at Stanford know you."

Xu Liang didn't expect this to happen.

At this time, even the most obtuse 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.

Seeing that the other person had opened his mouth, Xu Liang didn't hesitate any longer.

After telling Huo Gang and the others not to follow, they stepped onto the podium.

He took the initiative to extend his right hand to Reed Hastings.

"Mr. Hastings, a very wonderful speech. I hope to have the opportunity to have dinner with you 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."

Listening to this, Peter Elkind's eyes showed excitement.

As one of the top Internet companies in the world, he is no stranger to Hongmeng. I also know that Xu Liang, the boss of Hongmeng, never accepts media interviews.

It's such an unexpected surprise to be able to appear at Stanford this time.

After shaking hands warmly.

exclaimed 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 all 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 endless potential, and I sincerely hope that you can apply for jobs at Netflix or Hongmeng after graduation. I believe we will live up to your abilities. "

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.

He took the microphone and spoke.

“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 won't help you at all.

Let me briefly talk about my understanding of the Internet. "

After a pause, Xu Liang organized his words.

"Because of the cold winter of Nasdaq, the financial and industrial circles around the world 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 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 attracted more and more people to put away their unnecessary thoughts and listen 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. This will not take long. "

Everyone's eyes couldn't help but turn to 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."