Business

How Netflix burns $10 million a day

Netflix CEO Reed Hastings once called his company a "rerun TV" company. Its transformation into an original content machine is impressive — and really expensive.

Data: YCharts, FactSet; Note: Share price adjusted for stock splits; Chart: Harry Stevens/Axios

Videoconferencing startup Zoom's happy IPO

Zoom CEO celebrating IPO
Zoom staff celebrating IPO. Photo: Kena Betancur/Getty Images

Eric Yuan shattered one of the weirdest corporate taboos on Thursday, becoming the first Chinese CEO of a major U.S. publicly-listed corporation. (Indian CEOs, by contrast, including Microsoft's Satya Nadella, Pepsi's Indra Nooyi, and Citi's Vikram Pandit, have been highly visible for years.)

The backdrop: Yuan's triumph came in the highly competitive world of videoconferencing. It's a world he knew very well when he founded Zoom in 2011: He had been the head of engineering at one of Zoom's competitors, WebEx, which was sold to Cisco for $3.2 billion in 2007.