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Netflix faces a culture shift amid layoffs and subscriber losses

Hello, I’m Matt Turner, Business Editor at Insider. Welcome to Insider Weekly, a roundup of some of our best stories.


On the program today:

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


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Focus on an ongoing crisis

Photo collage of cheese, tomatoes, cows, eggs and oranges.


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


There’s a global food crisis unfolding, and Insider has spent the past few months unpacking what that means for consumers, editor-in-chief Josée Rose writes.

This week we published our dossier on the food crisis, revealing the struggles around the world with rising costs, as well as growing, selling and buying food.

The series zooms in on street food markets in Singapore, orange groves in Florida, fish markets in Japan and tapas restaurants in Spain to show how the food crisis is wreaking havoc on local economies, changing cultures and, in some cases, can trigger civil unrest. .

“If you’re worried about domestic politics, if you’re worried about environmental issues, if you’re worried about immigration issues, if you’re worried about diplomacy in the military, you should pay attention to the food crisis, because it lurks in the background, pushing these things,” Chris Barrett, an economist and food policy expert at Cornell University, told Insider.

There are 16 articles in all, including a main analysis article, broader stories about climate change and fertilizers, and 13 stories about shortages of different food staples. Even if you are well fed, you should be worried about our food supply.

Check out the full package here.

Now let’s move on to this week’s top stories.


At Netflix, a culture change is underway

Sign Netflix in August 2020.


AaronP/Bauer-Griffin/Getty Images


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

Many described executives more dispersed than ever, a creative environment driven by “fear-based” decision-making, tighter budget control, and concerns that layoffs from some teams have disproportionately affected people of color.

What’s going on inside Netflix.


Earthquake shift changes how Americans get paid

Wages are changing in the United States

Tyler Le/Initiate

Tyler Le/Initiate


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

While companies routinely hire for remote positions in cities far beyond their headquarters, white-collar salaries across the country are approaching temptingly close to those in San Francisco, meaning workers in Minneapolis in St. Louis could start making money in big cities.

Get ready for the “great wage convergence”.


Inside Wall Street’s Quantum Battle

Black and white cut-outs of Ken Griffin and Jim Simons on a green commercial visualization on a black background, with cropped squares of their eyes scattered around the,


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


At large trading companies, paranoia and competition for top talent has fueled a growing race to lock employees into quantitative trading – where billions in profits are up for grabs.

Many quantitative professionals have grown frustrated with the restrictions, former employees told Insider. Are these intellectual property safeguards or thinly veiled employee retention measures?

Behind the aggressive non-competition of trading companies.


How “super savers” save big

elkins bike

The author resides in Los Angeles, California.

Courtesy of Kathleen Elkins


As a senior investment reporter for Insider, 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, minimalist life; a couple who live on the income of their parallel work.

With tips from super savers, Elkins has found ways to increase her own savings — and she shares them here.

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


This week’s quote:

“Most people are not well. The founders are especially not well.”

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


More of this week’s best reads:

More: Keep up to date with the latest business news throughout the week by checking out The Refresh from Insider, a dynamic brief audio from Insider’s newsroom. Listen here tomorrow.


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