Nikhil Kamath x Netflix Co-CEO, Ted Sarandos | People by WTF | Ep. 10 Here's some actionable advice from Ted Sarandos's conversation, especially helpful if you're looking to build something in media or content: For Building a Business & Team: Focus on Talent Density: Don't "idiot-proof" your business with too many rules, as this can attract less talented people. Instead, set a very high bar for performance. Think of your team like a high-performing sports team, not a family, where performance is key. Prioritize Execution: Especially for complex problems, aim for "incredible execution." You need to be better and faster than your competitors, constantly striving for "better, faster, cheaper." Understand Your Niche & Distribution: You might have a small, niche audience, but they could be spread out globally. A broad distribution strategy can make these small niches profitable by rolling them up into bigger ones. Deeply Understand User Psychology: People value the experience of choosing content and the feeling of picking something others will enjoy. Go beyond the simple transaction and understand the deeper psychological value users derive from their choices. Embrace Production: Producing content is a great area for potential returns right now, as delivery and monetization models are rapidly evolving. For Content Creation: Quality is King: Regardless of genre, "the good version" of whatever you set out to make will always work because people have incredibly diverse tastes. Go Authentically Local: Counter-intuitively, authentically local storytelling often proves to be the most globally valuable. Don't try to create a "hodgepodge" for a global audience; focus on what's true to your local context. Let the Story Lead the Format: Don't force your story into a specific length or format (like a movie or series). Let the story dictate whether it needs to be a 30-minute episode, an hour-long show, or even an eight-hour series. Don't Reverse Engineer Your Pitch: Instead of trying to guess what a platform or audience wants, focus on the quality of your storytelling. Create a world people will want to spend time in, with characters they care about. Write a story that you genuinely feel needs to be told. Trust Your Gut (and the Creator): When greenlighting projects, especially with new talent, sometimes you have to bet on the creator's vision and your gut feeling, even if they haven't done something similar before. Be Daring & Learn from Failure: Don't be afraid to take "big swings" and fail. Learn from those failures and move on. Don't let past failures dictate future decisions. For Career Growth (especially for young people): Start at an Agency: If you're a 20-year-old looking to get into media, consider working for a talent management agency (like CAA or UTA) first. This will give you a broad, hands-on understanding of the business, how deals are made, and why things succeed or fail, all within about six months. Find What You're Good At: While passion is great, sometimes finding what you're really good at can lead to even greater passion and pride. Use your 20s to try different things and discover your strengths. Don't Be Afraid to Move On: If a job isn't making you happy in your 20s, it's okay to quit and try something else. Keep moving until you find your fit. Learn from the Bottom Up: To successfully run a media business, you need to understand how everyone operates. Don't be impatient; take your time to learn the roles and jobs by starting at the bottom (e.g., production assistant, writer's room assistant). This hands-on experience can also help you discover what you truly want to do and find mentors. Watch Everything: To develop a strong "gut" for content and understand what works, watch as much diverse content as possible. Build a vast frame of reference to understand the nuances of storytelling and audience appeal. Master the Pitch: Surprisingly, very few people are taught how to give great pitches, yet they are often "make or break." Focus on developing this skill. For Independent Creators Dealing with Platforms: Co-opt, Don't Just Compete: Instead of viewing large distribution platforms as just competition, explore ways to "co-opt" or work with them. Create Direct Touchpoints: If you rely on platforms like YouTube for distribution, actively find ways to create direct engagement and "touch points" with your audience outside of the platform. This helps you gather data and build a more direct relationship with your subscribers. (He notes a trend of building distribution on YouTube, then transitioning subscribers off-platform). Ted Sarandos, Netflix Co-CEO, offers key advice for media and content. For business, prioritize high talent density, "incredible execution," understanding global niches, and deep user psychology. Content creation demands quality, authentic local storytelling over global hodgepodges, and letting the narrative dictate format. Career growth benefits from starting at an agency for broad exposure, learning roles from the bottom up, and constantly watching diverse content. Finally, independent creators should "co-opt" platforms while building direct audience touchpoints. Embrace daring choices and learn from failures to thrive in this evolving landscape. Here are the key takeaways: Focus on Content Production: Investing in producing content is highlighted as a promising area for return, especially for those looking to build a business in media. Embrace Versatility: For aspiring media entrepreneurs, particularly young individuals, it's crucial to learn and understand all aspects of media operations to achieve success. Bet on Creators and Stories: Success in content often involves trusting and investing in the vision of creators and the stories they pitch, even if they lack prior experience. Diversity Drives Success: For global platforms like Netflix, diversity in the workforce (those picking, making, and promoting content) is essential to resonate with and serve a vast, varied audience, contributing directly to business success.