Netflix founder says he almost dropped out of Stanford for a different business: 'I was equally as committed to that terrible idea'

Netflix co-founder Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy.

Hastings, who currently serves as Netflix's executive chairman, said he's always believed his business ideas could change the world — his streaming service was just the first time he was right. Over the years, he's attributed that commitment and confidence to his success, and the success of other startup founders.

He even hired a mechanical engineering graduate student to mockup a prototype. Forty-eight hours later, he realized it wouldn't work.

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