Lenny's Podcast: Product | Growth | Career

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

Feb 22, 2024

Elizabeth Stone, the Chief Technology Officer at Netflix, shares her journey from VP of Data to CTO, revealing the challenges and excitement of her new role. She discusses Netflix's unique high-performance culture, emphasizing the importance of high talent density and the 'keeper's test' for team dynamics. Elizabeth highlights how economics informs decision-making and the balance between excellence and team well-being. With insights on fostering open communication, she champions an environment of freedom and responsibility that drives innovation and builds trust.

01:13:44

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Episode guests

Elizabeth Stone

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Quick takeaways

High talent density at Netflix fosters a culture of excellence through hiring top performers and radical candor.

Economists play a valuable role in tech leadership, offering unique problem-solving perspectives and incentives.

Elizabeth Stone's leadership style emphasizes setting high standards, delivering quality work, and fostering continuous improvement.

Deep dives

The Importance of High Talent Density at Netflix

High talent density at Netflix is crucial for cultivating a culture of excellence, where employees thrive and contribute to exceptional outcomes. Reed Hastings, Netflix's founder, instilled this belief since the company's inception. Maintaining high talent density involves hiring top performers, fostering radical candor, and promoting freedom and responsibility.

Dedication is about excellence, not just long hours

00:49

Embrace Uncomfortable Conversations and Timely Decision-Making

00:51

Setting Clear Expectations and Providing Direct Feedback

01:02

Introspection Through Storytelling

01:40

Intro

4min

Navigating the Transition to CTO: Challenges and Excitement

2min

Navigating Tech with an Economic Lens

21min

Cultivating High-Performance Culture at Netflix

15min

Fostering a Culture of High Talent Density and Excellence

4min

Innovating with Freedom: Netflix's Unique Culture

5min

Evolving from Chaos to Intentional Learning in Engineering Practices

2min

Inside Netflix's Data and Insights Structure

20min

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:

• Elizabeth’s advice for career advancement

• Netflix’s unique high-performance culture

• How, and why, Netflix maintains a high bar for excellence

• Intentional leadership practices

• How to foster an “open door” culture within your team

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

• The power of transparent communication

• Much more

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