Netflix changed the world of entertainment -- first with DVD-by-mail, then with streaming media and then again with sensational original shows like "Orange Is the New Black" and "Stranger Things" -- but not without taking its fair share of risks. In conversation with TED curator Chris Anderson, Netflix co-founder and CEO Reed Hastings discusses the company's bold internal culture, the powerful algorithm that fuels their recommendations, the $8 billion worth of content they're investing in this year and his philanthropic pursuits supporting innovative education, among much more.

Reed Hastings: How Netflix changed entertainment -- and where it's headed

How Netflix changed entertainment -- and where it's headed

The introduction of binge-viewing by Netflix redefined consumer habits, illustrating adaptability and innovation in content consumption.

Netflix's dive into original content with 'House of Cards' was a bold $100M risk that redefined its brand and industry influence.

Shifting to binge-viewing, Netflix introduced a consumer mode untested by traditional TV, enhancing series engagement and retention.