Lessons on hiring, firing and company renewal: The secrets behind Blackmagic Design’s success
Grant Petty is the founder of Blackmagic Design, a technology company that designs and manufactures AV equipment for the film and television industries.
The company was created to democratise film and television production by making the highest quality video equipment affordable to everyone, and thereby removing barriers to the post-production and television industry.
In 2001, when Petty started the company, TV video equipment cost over $1 million, with businesses buying the devices and hiring them out for thousands per hour.
“This meant really creative and artistic people were working incredibly hard in what was effectively an equipment hire business dressed up as the TV industry. Back then, it wasn’t a creative industry, but there were so many creative people in it,” Petty told SmartCompany in 2017.
Only by removing those barriers to entry can the industry be truly creative, Petty reasoned.