Fresh powder that stays untracked a full day after a storm is the dream for most skiers. For Reed Hastings, it’s part of the business model. Speaking with journalist Graham Bensinger on In Depth, Hastings described his vision for Utah’s Powder Mountain — a resort where snow can remain “only partially tracked 24 hours after the powder,” thanks to limited access and a growing private ski community.
Hastings, who stepped down as co-founder and chairman of Netflix in January 2023, took a majority stake in Powder Mountain in 2023. “This is sort of my rebound business,” he said, after what he described as a “25-year marriage with Netflix.”
Hastings said the deal came together quickly. “When the opportunity strikes, you kind of move quickly,” he explained, noting the purchase was completed in just seven days.
What draws him to the project is its tangible, hands-on nature. “I could do something impactful that I cared about, something totally different than Netflix. Very visceral. Working on everything from menus, to lifts, to design of different buildings, to creating a community, compared to a high-scale internet business.”
When asked what first attracted him to the area, Hastings pointed to a stark contrast with nearby resorts. Having previously skied in Park City, he described growing crowds and the increasing risk of collisions. Powder Mountain, by comparison, felt “peaceful and serene.”
He now envisions a community of roughly 600 families, with minimal crowds and no lift lines. “I’ve been enormously pleased with what we’ve done and how we’ve improved both the public side and the private side,” Hastings said.
Access to the private side comes at a premium. Members pay roughly $3 million for entry into the community, which includes access to a clubhouse, a homesite, and what Hastings described as “mind-blowing views in every direction.” Demand has been strong — 40 lots released last summer sold out, with another release expected soon.
Bensinger also asked how the investment compares to Hastings’ expectations. “Considerably bigger,” he admitted. “Because I just get more excited, and let’s get it done fast.”
Despite the scale of the project, Hastings says he isn’t trying to overhaul the ski industry. “There are about 4,000 private golf courses in the U.S., and they have some of the same benefits as private skiing. There are only three private ski areas,” he noted, predicting the model could grow globally. “But the bulk of ski areas are public… it’s one sector of the market that I think will grow.”
Beyond the business, Hastings also shared how he’s preparing to keep skiing long-term. His routine includes regular cardio and strength training, along with a more disciplined diet following his retirement. “The key for me to skiing until I’m 90 is to dial it back a little bit every year in like 25 years,” he said.
For Hastings — and many dedicated skiers — the motivation is simple. “Getting fresh powder is a drug. Once you’ve tasted it, you kind of just want more and more.”
Watch the full interview here: