Not quite. Netflix was doing fine, and yet he kept trying to do his shit to them so that he could chop the company up and sell it off, piece by piece. I'm glad the Netflix board was successful in telling him to go fuck himself.
He is being "relieved of his duties as CEO" according to the report. Saying he's "stepping down" is IMHO like saying a fugitive "turned himself in" when police arrived at his house with an arrest warrant. (Although I don't think he is being accused of anything criminal here.) Most of the incidents appear to stem from technical errors and poorly implemented processes, but the whole list points to his inability to lead this kind of company effectively.
I'm always skeptical of whether replacing a few executives can actually fix the cultural problems that were fostered/ignored in a company over time. The new leadership has to overcome a lot of inertia, and that's assuming they're any better than the old. They're also still answering to the same investors and pressures.
Yes, of course. He didn't handle it well at all. The problems aren't going away with him stepping down, unfortunately, and considering his replacement, it doesn't seem like there's any interest in fixing the real issues that are plaguing the company.
He's such a bad CEO that I can't believe he's still in the seat. Just the way he let the employees revolt and embarrass him. If he had any dignity or pride he would have resigned then. He may know all the facts on how businesses should be run and is a good guy, but he has 0 leadership skills. Just an awful, terrible leader. The ChatGPT fiasco is further evidence the place has been mismanaged the last 8 years.
Management failed him. Getting slowly shut out for months, one bit of cryptic feedback from the CEO, and then fired a few months later without warning? This is how a company destroys its talent base.
There's a big ego issue. Admitting the CEO failed requires admitting they failed.
The board picked out the CEO in the first place. They decided it was worth spending millions on them. And they likely approved of the CEO's plans whe it was discussed.
Companies in the past have definitely made dumb decisions you are right about that, but typically they don't just kill off their main cash cow for no apparent reason. That's all I'm saying. All of the "why would he do this?!?" posts are dumb for thinking that someone like the CEO of Netflix doesn't know that this would be a pretty stupid split of the business if he didn't have to do it to survive.
Umm the CEO and co-founder needs to step down! But alas with Travis Kala!ick none of the rightfully terrible things happening is his fault rather he's firing his staff to make it seem like he's trying to improve.
I know in Twitter everyone is inflammatory, however a CEO should exercise restraint and show leadership, and hold judgement until facts are clear, in this case he clearly failed.
Sounds to me like he made a couple unfortunate moves:
- Propose a 5 year plan (lol)
- Don't lead the incident with leadership, but with blame
- Speaking about problems more than solving problems (hard to do)
- Lack of relationship building
On one hand, I empathize with Chris. On the other hand, this sounds to me like he just didn't know how to perform in this environment. And that's totally fine! Not everything should learn how to perform in the bureaucratic knots -- startups are simpler in this way. And there's a reason the big guys lose their edge over time, and then some exec in a board room is faced with -10% YoY loss without any truthful VPs around the table.
Come on, this is the Netflix CEO stepping down. React, please.
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