about the reality as employees experience it. >> host: erin meyer, you are pretty aghast when reed hastingsent out an unfinished draft of the chapter, weren't you to employees? >> yes, i'm sure reed is happy to hear about thatgain. one of reid's leadership attendance is the imptance of being transparent with your employees and my time there that level of transparency is way beyond companies and that is spearheaded by reed. one of the experiences i had is that i worked at length on the chapter but it was nowhere near finished and i sent it to reed to start working on and probably i was doingnterviews at the netflix amsterd office and one of the netflix employees said to me during the interview when i was reading the chapter that you wrote and i was like what? he saidh yeah, reed sent that chapter out to the managers at netfli and i was like all of the managers? what i found out was that wn they talk about transrency he means helping everybody see what is going on even before it's finished. >> host: you are quoted in the book as saying i love the netflix culture for its honesty and load it fo

we caught up with the co-ceo and cofounder reed hastings to talk about how netflix will continue to meethe moment. reed: our culture is built around flexibility instead of efficiency. we have very few rules. we are inventive. we are on the edge of chaos. that happens sometimes, but that helped you adjust. we had to do a lot of adjustment, coming from dvd by mail in the u.s. to then doing streaming of other people's television, rerun tv, to then figure out after break into original series and later, original movies, and how to expand around the world. so now, about two thirds of our members are not in the u.s.. so a big, successful expansion there, successful expansion building our studio, "stranger things," and that is due to the culture of attracting incredible people and being very flexible, so that we didn't stay focused on the dvd by mail business. emily: how is the pandemic changing the way you run the business and create a culture of maximum and or, when soapy that its only people work from home. some ceo's like jack dorsey say we will be working from home forever. is that ok in yo

co-ceo and was co-founder of netflix reed hastings.ow, while some executives like reed hastings would like to see employees back in the office, others are allowing mobile work to be the new normal. we asked lincoln co-founder reid hoffman about whether working at home will be a net positive or net negative. net positive,be a but there will be challenges. for some organizations, it will continue to work well, i think ed is right, a lot of people need the office in order to work. [inaudible] and once you start having a workplace, in fact all the studies show there is a real impulse for everyone to be there, because the earliest promoted, who gets permission to do a thing, who is in the office meeting with people, so there is pressure to get back to that. family: your job is to try to predict the future. are we out of this in five years, where we are -- where are we any year, what is your time horizon? reid: some of the other economic impacts will have a persistent, multi--year work through period. the question about inventiveness in tech

riche public side, it's barton and reed hastings. shopper five.f you do google searches, they all say the exact same thing, which is companies are too afraid to go public and there are massive benefits to being first in category being public, having control of the narrative with the buy side. there was a long blog coast -- long blog post on this that you can read. but there were voices in silicon valley five or 10 years ago raising late stage funds and wanted to pick off the investments before they got public that started this stay private longer thing. but i like the analogy of football which is -- if there was some college quarterback that was in the top 50 list of the draft that held a press conference and said i don't think i'm going to go into the nfl yet because i'm really afraid of scrutiny and they track every single stat and i don't want to be that short term oriented. if someone did that, they would fall immediately. but that's the behavior of some of the founders in silicon valley that buy into this stay private ink. the minute you star

we are seeing netflix and reed hastings and people saying, let me deposit $100 million. j.p. morgan,can, let's open branches in these communities, but we also need to charge them with capital and loan capacity. a man who is going to be on the transition with biden, he was on a board where a year ago they modernized the lending infrastructure. they processed over 7400 loans in over four months. that is what modernization can do. the average loan was $11,000, which changes the dimensions of a small business. part of what we have to do is get this concerted effort across many dimensions. andrew and i, our alma mater cornell, the agriculture school, we are working with them on ways to spearhead racial equity across health and food in the u.s. do isf what we have to work and give institutions, corporations, and hopefully the federal government to come in and write some of these wrongs and repair this achilles that has been torn. otherwise, we will be hampered in the face of global competition. michael: i want to tell white folks, it's in your best interest. i'm not going to take t

but 2020 ushered in the biggest donations in hbcu history. 120 million from netflix ceo reed hastingseff bezos. >> these big gifts mean that american philanthropy is beginning to see that equity and equality mean equitable giving as well. >> reporter: students tell me you can't put a price tag on what they gain at hbcus. >> i feel like i'm getting a foundation to help develop the framework of how i'm going to live the rest of my life. >> fisk gave me confidence i could be myself in every arena. i didn't have to change who i was. >> reporter: for "cbs this morning," hbcu brad and howard alum michelle miller. >> i love that. >> we're a better country because hbcus exist. >> to hear that stat, 80% of the nation's black judges, 50% of its black doctors, but then you look at the endowments, that's huge, that you don't have the samehbcus. impact of the pandemic on nzie the rest of the royal family. your local news is next. come on back. >>> this is a kpix 5 news morning update. >>> good morning. i'm anne makovec. san ramon police say an officer fired shots at a man in a specific vehicle thi

, he and his wife spun around $24 million to democrats and the other co donated $7 million and reed hastingshink it's pretty obvious and it's not something we don't know is that most of the money for these big tech companies go to the side of the democrats. stuart: it's interesting that big tech contributes all this money and then blocks the hunter biden's story from getting out there to the general public but i find that extraordinary. i think chemist russell from "the wall street journal" will also find it extraordinary. it is amazing, isn't it kim. yet these executives from big tech donating all this money and then they block the story about hunter biden and then they stack the biden transition team so what on earth is joe biden supposed to do now about big tech? >> stuart, i think that puts more focus yet again on these georgia senate races because we talk about how everybody in washington is mad at facebook and that is true. matt at all the social media companies but their solutions are very different. republicans want to force these companies to stop censoring and to allow more free sp