Its co-founder Reed Hastings made his pile by co-founding and selling a company in 1997, in what was then the biggest deal in Silicon Valley, worth $750 million.
Netflix began life as a DVD rental business. Venture capital started scouring the global for opportunities, leaving the comfort of Silicon Valley and Boston for the hustle and bustle of Shenzhen and Bangalore.
It revealed the reality of the vibrant distribution of artistic, entrepreneurial and intellectual talent across the world. Globalisation exposed previously insular cultures to the delights of diverse foreign cultures, including cuisine, music and movies. For example, Japanese auteur Akira Kurosawa’s Seven Samurai was remade in 1960 as The Magnificent Seven, a western that won critical acclaim and commercial success.īut that was pre-globalisation, a phenomenon that took off in the early 1990s, when goods, people, technology and capital started crossing borders in ever-larger numbers and with ever-greater speed. Hollywood film folk have long known the power of good cinema made abroad and adapted it to their audiences.
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