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This Day, That Year – October 8

Sat 08 Oct 2022    
EcoBalance
| 2 min read

This day in history we feature Reed Hastings. An American businessman, co-founder, chairman, and CEO of Netflix, was born on this day in 1960.

Trivia – Reed Hastings

A former member of the California State Board of Education, Hastings is an advocate for education reform through charter schools. Hastings studied mathematics at Bowdoin College in Brunswick, Maine, graduating with a bachelor’s degree in 1983. After serving in the U.S. Marine Corps, he spent two years with the Peace Corps, most of the time teaching math in Swaziland (now Eswatini). He returned to the United States and went to Stanford University, where he received (1988) a master’s degree in computer science. Hastings’ first job was at Adaptive Technology, where he created a tool for debugging software. Subsequently Hastings became a software developer, and in 1991 he founded Pure Software (later Pure Atria Corporation), which he sold in 1997 for a substantial profit.

Related read – Netflix is finally discarding a feature that’s been frustrating users for years

In 1997, Hastings and former Pure Software employee Marc Randolph co-founded Netflix, offering flat rate movie rental-by-mail to customers in the US by combining two emerging technologies; DVDs, which were much easier to send as mail than VHS-cassettes, and a website to order them from, instead of a paper catalogue. Hastings is a proponent of Internet television and sees it as the future. He credits YouTube for his shift in strategy for developing a video streaming service. Netflix launched a service in 2007 to stream movies and television shows to computers. Hastings has been a director of Facebook, Inc. since June 2011. As of September 2016, he was reported to own over US$10 million worth of Facebook shares. In April 2019, Facebook announced that Hastings would leave the board as of May 2019. Hastings was on the board of Microsoft from 2007 to 2012.

Source – Wikipedia

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