Interesting piece by Bloomberg’s Wall Street Week featuring the co-founder and former CEO of Netflix, Reed Hastings, who purchased a majority stake in Powder Mountain back in September 2023.
Shortly thereafter the billionaire entrepreneur announced plans to make massive infrastructure upgrades to the beloved Utah resort while turning part of it into a members-only ski club which was a big give and take for the folks who called Powder their home mountain.
Much has been made about Powder Mountain since Hasting took the reins and implemented his first of its kind model fusing public skiing with private and the jury is still very much out.
Hastings sat down with host David Westin to explain his thought process on buying a resort, what lessons he has taken from his former carrier and applied to the ski business and where Powder Mountain is headed in the future.