I’ve followed certain Netflix employees on LinkedIn and through Rand’s Leadership Slack channel. For years, the place seemed like “heaven on earth” for people smart enough to be employed there. Great compensation. Great severance (if you don’t work out). Seemed to be the ultimate place to work (along with Apple, and Google). The culture had the typical silicon valley elitist atmosphere. So, it’s fascinating to watch now as Netflix experiences their first major subscriber loss in years. This adjustment has had some employees wondering why the party is over. Compensation plans are changing. Teams are being cut. Confidence about the future is waning.
All the weeping and gnashing of teeth seems typical of the millennial coder who lives in an alternate universe where a mid-six figure salary is adequate but not great. Couple that with free food, free laundry, free haircuts, and, well, almost free everything, and these individuals are accumulating life expectations that can’t possibly be sustained.