Podcasts Technology Lenny's Podcast: Product | Growth | Career How Netflix builds a culture of excellence | Elizabeth Stone (CTO)

How Netflix builds a culture of excellence | Elizabeth Stone (CTO)

Published: Feb. 22, 2024, 1:01 p.m.

Elizabeth Stone is the chief technology officer of Netflix. She previously served as vice president of product data science and engineering, and as vice president of data and insights, at Netflix. Before Netflix, Elizabeth was vice president of science at Lyft, chief operating officer at Nuna, a trader at Merrill Lynch, and an economist at Analysis Group. In our conversation, we discuss:

\u2022 Elizabeth\u2019s advice for career advancement

\u2022 Netflix\u2019s unique high-performance culture

\u2022 How, and why, Netflix maintains a high bar for excellence

\u2022 Intentional leadership practices

\u2022 How to foster an \u201copen door\u201d culture within your team

\u2022 The Keeper Test and how it contributes to maintaining a high bar for excellence

\u2022 The power of transparent communication

\u2022 Much more

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Brought to you by:

\u2022 Vanta\u2014Automate compliance. Simplify security.

\u2022 Sendbird\u2014The (all-in-one) communications API platform for mobile apps

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Find the full transcript at: https://www.lennysnewsletter.com/p/how-netflix-builds-a-culture-of-excellence

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Where to find Elizabeth Stone:

\u2022 LinkedIn: https://www.linkedin.com/in/elizabeth-stone-608a754/

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Where to find Lenny:

\u2022 Newsletter: https://www.lennysnewsletter.com

\u2022 X: https://twitter.com/lennysan

\u2022 LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Elizabeth\u2019s background

(04:36) Life as CTO vs. VP of Data

(05:57) The role of economists in tech companies

(08:32) Using economics to understand incentives

(10:07) Success and career growth

(20:15) Setting expectations

(25:02) Advice for how to avoid burnout

(27:44) Netflix culture: high talent density

(30:31) Netflix culture: candor and directness

(31:45) The Keeper Test

(39:01) Maintaining a high bar for excellence

(43:54) Netflix culture: freedom and responsibility

(46:18) Unconventional processes at Netflix

(47:55) Examples of candor

(51:44) Data and insights team structure

(01:00:12) Staying close to teams

(01:02:31) Advice on being present

(01:07:40) Lightning round

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Referenced:

\u2022 What to Know About the Netflix Cup, Today\u2019s First-Ever Live Sports Event: https://www.netflix.com/tudum/articles/netflix-cup-live-event-date-news

\u2022 Ann Miura Ko interview | The Tim Ferriss Show (Podcast): https://www.youtube.com/watch?v=h2GO0Ks_VGg

\u2022 Netflix culture: https://jobs.netflix.com/culture

\u2022 No Rules Rules: Netflix and the Culture of Reinvention: https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention/dp/1984877860

\u2022 Reed Hastings on LinkedIn: https://www.linkedin.com/in/reedhastings/

\u2022 Netflix\u2019s \u201cKeeper Test\u201d and Why You Need It | Lorne Rubis: https://www.highlights.lornerubis.com/2015/08/the-netflix-keeper-test-and-the-courage-to-take-it/

\u2022 The Hunger Games: https://en.wikipedia.org/wiki/The_Hunger_Games

\u2022 Nan Yu on LinkedIn: https://www.linkedin.com/in/thenanyu/

\u2022 Work Life Philosophy: https://jobs.netflix.com/work-life-philosophy

\u2022 The Scoop: Netflix\u2019s historic introduction of levels for software engineers: https://blog.pragmaticengineer.com/netflix-levels/

\u2022 Chaos Monkey: https://www.techtarget.com/whatis/definition/Chaos-Monkey

\u2022 Ali Rauh on LinkedIn: https://www.linkedin.com/in/ali-rauh/

\u2022 Keith Henwood on LinkedIn: https://www.linkedin.com/in/keith-henwood/

\u2022 Jeff Bezos\u2019 Morning Routine of Puttering Around\u2014How It Works: https://medium.com/illumination/jeff-bezos-morning-routine-of-puttering-around-how-it-works-9d73f359ac8d

\u2022 What I Talk About When I Talk About Running: A Memoir: https://www.amazon.com/What-Talk-About-When-Running/dp/0307389839

\u2022 A Fine Balance: https://www.amazon.com/Fine-Balance-Rohinton-Mistry/dp/140003065X

\u2022 Triangle of Sadness on Hulu: https://www.hulu.com/movie/triangle-of-sadness-f60937bd-45f4-469a-938f-db95026953a1

\u2022 Beef on Netflix: https://www.netflix.com/title/81447461

\u2022 Fellow pour-over coffee set: https://fellowproducts.com/products/stagg-xf-pour-over-set

\u2022 Peloton bikes: https://www.onepeloton.com/shop/bike

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.



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