ACQ2 by Acquired

Netflix's Journey, Building TCV, and Investing Through Downturns (with TCV co-founder Jay Hoag)

Nov 10, 2022

Jay Hoag, co-founder of Technology Crossover Ventures (TCV), shares captivating insights from his journey in tech investing since 1995. He recounts Netflix's transformative shift from DVDs to streaming, highlighting crucial decisions during challenging times. The conversation dives into customer retention strategies that emphasize easy cancellations and a focus on consumer experience. Hoag also discusses the mindset needed for investing through downturns, underlining resilience and strong leadership as key to navigating market challenges.

45:57

Creator website

Episode guests

Jay Hoag

AI Chapters

Episode notes

Intro

3min

Reflections on Technological Evolution and Personal History

3min

From Middle-Class Roots to Wall Street: A Journey of Lucky Choices

3min

Navigating Investment Challenges: The Netflix Journey

24min

Customer Retention Strategies: The Netflix Approach

3min

Navigating Investment Downturns

9min

We had the rare opportunity to interview Jay Hoag, cofounder of the first tech crossover investing firm, TCV, at TCV’s Engage Summit in Half Moon Bay earlier this fall. Jay and Rick Kimball started TCV back in 1995 and have been part of the private-to-public journeys of storied companies like Netflix (which Jay shares some great war stories about on this episode), Spotify, Zillow, Expedia, Facebook, Airbnb, Peloton and many others. Jay and TCV were kind enough to let us release the conversation as an Acquired LP episode, and we’re excited to share it with all of you. We cover the firm’s history, how companies should calibrate the magnitude of their future-looking product investments (a topic we didn’t realize would end up being so timely) and perhaps most importantly, pivotal moments where now seemingly unstoppable companies almost died amidst big macroeconomic changes. We hope you enjoy!

Links:

Sponsors:

Statsig: https://bit.ly/acquiredstatsig24

Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.