Netflix CEO on Price HIKE: 'Got Too Cocky'

 “I SLID INTO ARROGANCE”

  by Hillary Reinsberg

  

When a CEO starts a letter with, “I messed up. I owe everyone an explanation,” you know you’re in trouble. Or, in this case, it turns out you’re in for what might be the most apologetic, sappy letter from a CEO we’ve seen in recent memory.

Netflix founder and CEO Reed Hastings wrote an email to users this morning, which also appeared on his blog —  in which he apologized for price hikes at Netflix and announced that the company is splitting into two parts. While the main takeaway from the note was the news that Netflix is spinning its DVD-by-mail service into a separate business called Qwikster, the letter felt a bit more like something you’d get from a cheating boyfriend.

We’ve got here what we think are the sappiest highlights of the letter, and tell us if you agree:

“We lacked respect and humility.”

“I need to be extra-communicative.”

“I slid into arrogance based upon past success.”

“I should have personally given a full justification.”

“It would have been the right thing to do.”

“I want to acknowledge and thank our many members that stuck with us, and to apologize again to those members, both current and former, who felt we treated them thoughtlessly.”

In the past, we’d felt that Hastings was perhaps too cocky. Seems that those days are now long gone.

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