Netflix is blowing the doors off its business, with $3 billion in annualized revenue and a $12 billion market cap driven by the transition to streaming online video. In terms of hours watched, streaming surpassed DVDs for Netflix in the fourth quarter, but CEO Reed Hastings has been preparing for this moment for more than decade. The name Netflix itself always held the promise of movies delivered over the Internet. The problem, says Hastings in an interview today at the Wired business conference, was that back then they couldn't stream movies over 56K modems. But there was Moore's Law and improvements in bandwidth which could be plotted, and that is exactly what Hastings did. "We took out our spreadsheets and we figured we'd get 14 megabits/sec to the home by 2012, which turns out is about what we will get." So what does his spreadsheet tell him about the next ten years? "If you drag it out to 2021, we will all have a gigabit to the home."
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