Netflix faces cultural shift amid layoffs, subscriber losses

Hi, I’m Matt Turner, Insider Business Editor-in-Chief. Welcome back to Insider Weekly, a roundup of some of our top stories.


On today’s agenda:

But first: Josée Rose, Executive Business Editor at Insider, takes us behind the scenes of our new top report on the unfolding food crisis around the world. So without further ado…


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Approaching a developing crisis

Collage of photos of cheese, tomatoes, cows, roe and oranges.


Jeremy Meek/Fati Abubakar/Andri Tambunan/Junya Inagaki/Octavio Jones for Insider


A global food crisis is unfolding, and Insider spent the last few months unpacking what this means for consumers, executive editor Josée Rose writes.

This week we publish our Food Crisis pack, revealing the struggles around the world with rising costs, as well as growing, selling and buying food.

The series focuses on the street food markets of Singapore, orange groves in Florida, Japanese fish markets and Spanish tapas restaurants to show how the food crisis is wreaking havoc on local economies, changing cultures and, in some cases, it has the potential to trigger civil unrest. .

“If you care about domestic politics, if you care about environmental issues, if you care about immigration issues, if you care about diplomacy in the military, you should be paying attention to the food crisis, because it’s lurking in bottom, pushing those things,” Chris Barrett, an economist and food policy expert at Cornell University, told Insider.

There are 16 pieces in total, including a main analysis piece, broader stories about climate change and fertilizers, and 13 stories about the scarcity of different staple foods. Even if you are well fed, you should still be concerned about our food supply.

Check out the full package here.

Now, let’s move on to this week’s top news.


At Netflix, a culture shift is underway

Netflix signs in August 2020.


Aaron P/Bauer-Griffin/Getty Images


Insider spoke with current and former Netflix employees, creators, producers and other stakeholders, who said that as the company faces new challenges, its culture is undergoing change.

Many described executives that are more dispersed than ever, a creative environment driven by “fear-based” decision-making, tighter budget oversight, and concerns that layoffs in certain teams have disproportionately affected people in the workforce. color.

What is happening inside Netflix.


A seismic shift is changing the way Americans are paid

Wages are changing in the US

Tyler Le/Insider

Tyler Le/Insider


Wages have long been determined based on where workers live. But with much of the country continuing to work remotely, a new phenomenon is emerging.

As companies routinely hire for remote roles in cities and towns far beyond their headquarters, white-collar wages across the country are tantalizingly close to those in San Francisco, meaning workers from Minneapolis to St. Louis could start making money from the big city.

Get ready for the “Great Salary Convergence.”


Inside the Quantitative Battle of Wall Street

Black and white cutouts of Ken Griffin and Jim Simons against a green commercial display on a black background, with cutout squares of their eyes scattered around,


Patrick McMullan/Getty; Michael Kovac/Getty; Marianne Ayala/Insider


At major trading companies, paranoia and competition for top-tier talent have fueled an ever-increasing race to lock employees into quantitative trading, where billions in profits are at stake.

Many quant professionals have been frustrated with the restrictions, former employees tell Insider. Are these intellectual property guarantees or thinly veiled employee retention measures?

Behind the aggressive non-competitive in business enterprises.


How “super savers” save big

elkins bike

The author resides in Los Angeles, California.

Courtesy of Kathleen Elkins


As Insider’s senior investment reporter, Kathleen Elkins has heard plenty of money-saving tricks: a Google employee who lives in a truck parked in her company’s parking lot; a YouTuber who leads a simple and minimalist lifestyle; a couple living off the income from her side job.

Thanks to tips gleaned from super savers, Elkins has found ways to increase his own savings, and he shares them here.

Three expert-backed strategies to save $1,000 each month.


This week’s date:

“Most people are not okay. Founders especially are not okay.”

—Seven Seven Six investor and partner Katelin Holloway on the mental health of startup founders.


More of this week’s best reads:

Plus: Stay up to date with the latest trading news throughout the days of the week by checking out The Refresh from Insider, a dynamic audio news digest from the Insider newsroom. listen here tomorrow.


Curated by Matt Turner. Edited by Sarah Belle Lin, Jordan Parker Erb, and Lisa Ryan. Sign up for more Insider newsletters here.

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