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Reed Hastings steps down as Netflix co-CEO

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Reed Hastings – the man responsible for changing the media landscape forever is stepping as co-chief executive of Netflix

The 62-year-old Hastings co-founded the company in 1997.

Back then, Netflix delivered its subscribers movies on DVDs sent in the mail.

But he’s not walking away entirely – Hastings will move into the role of chairman.

As for his successor – Greg Peters, the company’s chief product and chief operating officer, will join Ted Sarandos as a co-chief executive.

Sarandos became co-CEO back in July 2020.

In a statement, Hastings says the new leadership duo have already earned their stripes – steering the company through Covid and upheavals in the industry as he began to step back over the last two and a half years.

Netflix has been under pressure as consumers reduce their spending and companies including Disney, Amazon and Paramount bite into a share of the streaming pie.

Late last year, Hastings says the once niche market is now a bloodbath. #Netflix

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Boeing’s bad luck continues following Starliner malfunction

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Long-awaited first crewed test flight of the new Starliner space capsule was called off over a technical issue that launch teams could not resolve in time.

Originally scheduled for liftoff from Florida’s Kennedy Space Center, the mission aimed to demonstrate Starliner’s capabilities and certify it for regular crewed flights to the ISS, as reported by Reuters.

 

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Will Australia’s foreign investment rule create an economic boost?

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Is Russia planning a sabotage across Europe?

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Intelligence agencies across Europe have issued warnings of a potential plot orchestrated by Russia aimed at sabotaging key infrastructure and destabilising nations.

On this episode of Hot Shots – Russia could be planning a sabotage across Europe, Trump is facing jail, a painting valued over ten million is discovered and Beoing look to ignite the commercial space race.

Ticker’s Ahron Young & Veronica Dudu join to discuss.

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