Netflix CEO Predicts Gigabit to the Home by 2021 May 13, 2011

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Netflix CEO Reed Hastings discusses how the company has been focused on streaming video via the Internet since its beginnings, but "the network wasn't big enough." Now he predicts gigabit to the home access within the next ten years.

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Reed Hastings co-founded Netflix in 1997 and has led the company since its earliest days. The firm's innovative business model soon transformed the video rental landscape, as little red envelopes supplanted brick-and-mortar chain stores. Netflix withstood copycat challenges from large, established retailers and in 2007 lapped its competitors by launching Internet streaming. Today, the company has more than 20 million subscribers.

An engineer by training, Reed also founded Pure Software in 1991, a company that created software development tools. He built Pure into one of the world's 50 largest software firms before selling it in 1997. Reed is an active educational philanthropist and served as president of the California State Board of Education from 2000 to 2004. In 2005 he was named to Time magazine's list of the world's 100 most influential people, and in 2010 he was honored by Barron's as one of our most respected CEOs and by Fortune as Business Person of the Year.