Taking smart risks can be very gratifying.

If you look at cable networks, they almost always start licensing content wherever they can, so they can build a subscriber base. But then they start doing their own content; it's a pretty well-trodden path.

What's got me excited about the education space is the growth of the Internet over the next 10, 20, 30 years.

I've worked very hard, but my life's always been fun.

I founded Netflix. I've built it steadily over 12 years now, first with DVD becoming profitable in 2002, a head-to-head ferocious battle with Blockbuster and evolving the company toward streaming.

Something will eventually replace the Internet. But it's hard to know what and when it will happen.

Technological revolutions are very hard to predict. My favourite example is someone in 1850 taking care of horses as a farrier. They would have said, "Look, horses have been part of human existence for 5,000 years. We are horse people. It's permanent." But all of a sudden, the internal combustion engine comes along and, with it, oil fields and automobiles, which basically replace the horse completely. So we often have these long periods of stability and then a sudden inflection point.