1) Hire extraordinary people who fit the needed role extraordinarily well. In certain fields (like Netflix’s software and entertainment business), the best people can be more than 10 times as impactful as their closest peers. How do you get and keep these people? Simple - pay top market rate. 

2) Talent density reduces the need for talent management. Once you have great people, give them real responsibility. Netflix deliberately removes approvals, policies, committees, and other friction that exists primarily to prevent people from making mistakes. Employees—including junior ones—have been trusted to spend large amounts on shows, launch unconventional marketing campaigns, and make decisions that would require layers of approval elsewhere. Some decisions will be wrong. Netflix believes the cost of occasionally being wrong is lower than the cost of making everyone slow.

3) Vacation! Hastings takes roughly 2 months of vacation every year, setting the tone for many others at Netflix to use their unlimited time off to recharge, come up with creative ideas, and sustainably keep contributing to the company. 

4) Candid high frequency feedback. This is a key part of their culture - tell people what you really think, whether good or bad, whether junior or senior, whether publicly or privately. Employees got better and made smarter collective decisions because of feedback they got quickly and honestly. And Hastings himself describes changing decisions and behaviors because employees told him directly when they thought he was wrong.

5) Experiments are often much riskier not to run than to run. Launching a new business line (like producing instead of just buying content) or betting on a show that doesn’t fit neatly into an existing genre (like Stranger Things) may fail. But not taking those swings almost guarantees a company won’t evolve, innovate, or hit business home runs. A failed experiment has a visible cost. The great idea that was never tried doesn't. Building a culture that encouraged these experiments, and accepted the failures that sometimes came with it, has been a key reason for Netflix's success, creativity, and ultimate ability to play such a loved role in our lives today.