Do not underestimate Hastings, he has proved the skeptics wrong before. When he started Netflix they said it would not survive against market leader Blockbuster. Netflix put Blockbuster out of business. Then they said downloading movies from the internet would put Netflix out of business. Netflix became the leader in internet video.
Multibillion dollar company? Blockbuster was a multibillion dollar company and Hastings put it down. Downloading movies from the internet was technology that was far above what Netflix did but they became the technology leader in internet video.