Logo
    Search

    Building minimum lovable products, stories from WeWork and Airbnb, and thriving as a PM | Jiaona Zhang (Webflow, WeWork, Airbnb, Dropbox)

    enJuly 02, 2023

    Podcast Summary

    • Shifting the Focus from Solutions to Understanding User Problems: A Key Lesson for New Product ManagersNew product managers should prioritize understanding user problems and adopt a user-centric mindset to create products that truly meet the needs of their users.

      It is crucial for new product managers to avoid jumping to solutions and instead focus on understanding the problems of users and the real world. Many new PMs make the mistake of becoming attached to their own ideas and wanting to have the power to dictate what gets built. However, as JZ points out, product managers have limited authority and must rely on influence to drive product decisions. By shifting the mindset towards user-centric thinking and problem-solving, PMs can better identify opportunities and create products that truly meet the needs of their users. It is important for new PMs to untrain their tendency to jump to solutions and instead prioritize understanding the problems they are trying to solve.

    • The role and responsibilities of a product manager explained.Prioritize understanding customer needs and leverage existing resources to deliver value rather than reinventing the wheel.

      The role of a product manager is often misunderstood. Many people assume that being a product manager means having complete control and making all the important decisions. However, the reality is that a product manager's job is to identify opportunities, evaluate different possibilities, and make informed decisions based on market demand and strategic strengths. One common mistake is being too solution-focused and not taking a step back to understand the actual problem. For example, in the case of Airbnb Plus, the focus should have been on addressing the trust issue instead of trying to manage inventory through inspections. The lesson here is to prioritize understanding customer needs and leverage existing resources, such as guest reviews, to deliver value rather than reinventing the wheel.

    • Balancing big vision with thoughtful execution and avoiding the cost fallacy.Companies should have a clear vision, specific goals, and milestones for each phase of development. They should also avoid investing resources for too long in failing initiatives and encourage product leaders to challenge flawed approaches.

      It is important for companies to have a big vision and think big in order to innovate. However, this big vision should be coupled with thoughtful execution. It is crucial to be clear about the phase the company is in and set specific goals and milestones for each phase. This allows for learning and experimentation in the early stages while also providing opportunities to reassess and pivot if necessary. It is also important to avoid falling into the trap of the cost fallacy, where resources are invested for too long in a failing initiative. By setting clear go/no-go points and quarterly milestones, a company can prevent wasting significant time and resources. Additionally, product leaders should feel empowered to push back and challenge leadership when they believe an approach is flawed.

    • Effective strategies for pushing back on founder's ideas and presenting alternative solutions.By demonstrating conviction, understanding the founder's goals, and providing better solutions based on data and reasoning, the founder is more likely to consider alternative approaches for a successful minimal lovable product.

      When pushing back on ideas that the founder is enthusiastic about, it is important to have conviction and provide alternative options based on the spirit of what they are trying to achieve. Understanding the founder's goals and aligning with them is crucial. By demonstrating a deep understanding of the user and the business, and presenting better solutions backed by data and thoughtful reasoning, it is likely that the founder will be willing to consider alternative approaches. Additionally, it is important to consider the feasibility and potential profitability of the proposed idea. Ultimately, the concept of a "minimal lovable product" is emphasized as a more compelling and effective approach than the traditional minimal viable product.

    • Achieving a Minimal Lovable Product: Prioritizing Quality over Quantity and Focusing on User ExperienceDeveloping a minimal lovable product requires understanding user needs, prioritizing quality over quantity, and adding small but impactful details to enhance customer satisfaction.

      When developing a minimal lovable product, it is crucial to understand the options and needs of the user. The goal is to create something that is not just viable, but also enjoyable and valuable to the user. While there may be pressure to add numerous features, it is important to prioritize quality over quantity. Instead of trying to do everything in a mediocre way, focusing on doing a few things exceptionally well can make the product more lovable. Additionally, small details like keyboard shortcuts or extra "pixie dust" can make a significant difference in customer satisfaction. Ultimately, a strong point of view and understanding of the user's experience is essential in achieving a minimal lovable product.

    • The Power of Storytelling in Project RoadmappingBy incorporating storytelling and themes into project roadmaps, teams gain a deeper understanding of the purpose and significance of their work and enable flexibility in the face of changing circumstances. Documentation ensures clarity and accessibility.

      When roadmapping and prioritizing projects, it is important to focus on telling a story rather than simply creating a spreadsheet with a list of projects. Instead of just filling out impact, cost, and effort columns, it is crucial to articulate the why behind each body of work. This storytelling approach helps the team understand the purpose and significance of their projects. By creating a narrative and themes for the roadmap, it allows for more flexibility and adaptability as new information and insights arise. Additionally, it is recommended to document the roadmap in a written format, such as a doc, to ensure clarity and accessibility, especially in remote or hybrid work environments.

    • Utilizing effective artifacts and systems and establishing a reputation for excellence can enhance a product manager's performance and career growth.Embrace tools and platforms like Jira for real-time updates and accurate product roadmap management. Establish a reputation for excellence in a specific area to attract more responsibility and career opportunities.

      It is important for product managers to create and utilize artifacts and systems that their teams actually use. Instead of relying on outdated spreadsheets or documents, linking out to the actual tools and platforms, such as Jira, allows for real-time updates and accurate snapshots of the roadmap. It is also beneficial to have templates and common structures for laying out the product development story, which can be customized based on the specific quarter or year. Additionally, becoming known for and excelling in a particular area can greatly accelerate a product manager's career. This reputation for excellence attracts more responsibility and opportunities for growth. In the case of Jiaona Zhang, her strong analytical background helped establish her reputation early on in her career.

    • The importance of execution and career evolution for success as a PM.Success as a PM requires not only strong execution skills, but also the ability to evolve in one's career, prioritize innovation, and adapt to changes for tangible impact.

      Being known for getting things done and working hard is crucial for success as a PM. Jiaona Zhang emphasized the importance of execution and the ability to manage complex projects and teams. By showcasing her skills in meeting launch deadlines and handling difficult tasks, she gained more responsibility and recognition. However, she also highlighted the need to evolve in one's career and not solely rely on execution as a core strength. As a PM, it's essential to be clear on the qualitative outcomes that define success and focus on the spirit of achieving goals rather than just meeting targets. It's important to prioritize innovation and swiftly adapt to changes to ensure both the company and users experience tangible impact.

    • Balancing Ambition and Strategy: The Importance of Culture, Clear Planning, and Leadership in Product ManagementProduct leaders should foster a culture of innovation and growth by encouraging risk-taking and providing support for ambitious goals, while also implementing a clear plan and demonstrating effective leadership.

      Product leaders should prioritize delivering great products to customers and not simply focus on OKRs for the sake of OKRs. It is essential to create a culture where taking risks and failing is not punished, as this encourages innovation and growth. However, it is also important for product managers to have a clear plan and milestones to achieve their ambitious goals. Dreaming big is encouraged, but it should be supported by a feasible roadmap. Building something safe and suboptimal wastes resources, whereas taking calculated swings at ambitious goals can lead to significant success. Overall, the story, roadmap, and effort put in by the team should be considered when evaluating a product manager's performance. Additionally, the conversation also highlights the importance of empathy and effective leadership in managing teams and dealing with challenges.

    • The Negative Effects of Over-Hiring and the Importance of Operational EfficiencyPrioritize meeting customer needs and maintaining operational efficiency over excessive expansion and technology-driven ambition.

      It is important to be mindful of hiring practices and not over-hire in order to avoid the difficult task of laying off employees. The conversation highlights the negative impact of over-hiring by discussing the experiences at WeWork and how it led to layoffs and a sense of responsibility for the person who brought in those employees. It emphasizes the need for companies to be clear about their hiring milestones and to prioritize operational efficiency over excessive expansion. The key lesson is to understand the core desires of customers and focus on delivering on those desires, rather than getting caught up in a technology-driven and overly ambitious approach.

    • The importance of empathy and prioritizing employee well-being in leadership decisionsIn leadership, it is crucial to consider the well-being of employees and prioritize their interests, especially when making decisions that may impact their job security or personal circumstances. Building context in a new role quickly is essential, particularly when facing time constraints like impending maternity leave.

      Leadership involves empathy and understanding the needs of both employees and the company. Jiaona Zhang faced a difficult decision when hiring someone on a visa and had to consider the potential impact of laying them off. She realized that as a pregnant woman, she would have more time and freedom to find a new role compared to someone on a visa. This experience highlighted the importance of considering the well-being of employees and making decisions that prioritize their interests. Additionally, Jiaona emphasized the significance of building context quickly in the first 90 days of a new role, especially when time is limited due to impending maternity leave. This involves proactively seeking conversations with various team members to understand the challenges they face.

    • Building Context and Creating a Plan for SuccessConnect with peers and various functions, have a plan in place, communicate clearly, involve the entire leadership team, and build trust for effective collaboration and decision-making.

      Building context quickly and creating a plan is crucial when joining a new team or taking a leave of absence. Jiaona Zhang emphasized the importance of connecting with peers and various functions within the organization to gather as much information as possible. It is not just about understanding your team, but also about gaining insights from different areas. Jiaona stressed the significance of having a plan in place before taking time off, ensuring that the team continues to move forward and address any gaps or issues that arise. Clear communication, assigning research tasks, and involving the entire leadership team and board were crucial for Jiaona in her first 90 days. Trust plays a vital role in this process, as it is the foundation for effective collaboration and decision-making.

    • The Importance of Trust for a Product ManagerBuilding trust with cross-functional partners and the CEO is crucial for effective product management. Avoid pushing for change without established trust, as it can lead to ineffective outcomes. Invest in understanding why people love a product for sustainable success.

      Trust is crucial for a product manager (PM) to be effective. Jiaona Zhang emphasizes the importance of gaining trust from cross-functional partners and the CEO before implementing changes. She acknowledges that she made mistakes in her first 90 days as a PM by pushing too hard for change without establishing trust. Jiaona compares trust to a bank, where building trust is like depositing money and using that trust to drive change is like withdrawing money. However, she warns against spending trust before it has been fully established, as it can lead to ineffective outcomes. Additionally, Jiaona shares a high-level learning from her experiences at different companies - understanding why people love a product and investing in that core concept is crucial for sustainable success.

    • The Importance of Investing in Core Strengths and Prioritizing ResourcesUnderstanding and leveraging a company's unique strengths and focusing resources on improving those areas can lead to exceptional products and experiences for users. Asking for help is also important for leaders to overcome challenges and make informed decisions.

      Understanding and doubling down on what makes a company special is crucial for success. Jiaona Zhang emphasized the importance of investing in the core strengths of a business rather than spreading resources thin across different areas. For Dropbox, focusing on performance and syncing speed was vital for improving the user experience. Similarly, Airbnb should prioritize ensuring the quality and reliability of their home listings rather than diversifying into unrelated ventures. WeWork should concentrate on perfecting inventory management instead of investing in unnecessary features. This lesson applies to many companies, including Webflow, where prioritizing the powerful design features and CMS brings the most value. By understanding why people love a company and leveraging that advantage, businesses can deliver exceptional products and experiences to their users. Asking for help is also crucial for leaders to overcome challenges and make informed decisions.

    • Embracing the Power of Asking for Help in Personal and Professional GrowthAsking for help is essential for continuous learning and improvement. Being open about what you don't know and seeking guidance leads to better outcomes and ensures personal and professional growth.

      Asking for help is crucial for personal and professional growth. Jiaona Zhang emphasizes the importance of seeking guidance and support from others, even when in a leadership or managerial role. She recognizes that not knowing everything is okay and that relying on others' expertise can lead to better outcomes. Whether it's seeking advice from partners, peers, or team members, Jiaona believes that being honest about what you don't know and actively asking for help is essential. She exemplifies this by discussing her experience in developing a product strategy and seeking assistance from AI experts and engineers. By embracing the value of asking for help, individuals can continuously learn, adapt, and improve in their roles and responsibilities.

    • Assessing a Product Manager's Ability to Navigate AmbiguityWhen interviewing for a Product Manager position, look for candidates who are skilled at providing structure, seek input, make data-driven decisions, and adapt processes based on specific challenges faced by the company.

      When interviewing candidates for a Product Manager (PM) job, it is important to ask behavioral questions that assess their ability to navigate ambiguity. Good answers are those that demonstrate the candidate's ability to provide structure and a way forward through ambiguity, rather than feeling overwhelmed by it. It is also important to look for candidates who seek help and input, rather than being overly confident in their own ideas. Additionally, it is valuable to see candidates who can identify milestones and make decisions based on whether their approach is working or not. In terms of product discovery, Jiaona Zhang mentions the SNOO and Midjourney as products she loves, emphasizing the importance of both functionality and creativity in product development. Finally, the conversation highlights the effectiveness of making small process tweaks based on the specific challenges faced by a company, such as conducting tech spikes to assess difficulty or involving cross-functional partners in kickoff meetings.

    • Making Webflow Easier: Enhancing User Experience and AccessibilityWebflow is dedicated to improving user experience by developing new tools and resources, integrating AI, and valuing user feedback to ensure user satisfaction and success.

      Webflow is continuously working to improve user experience and make the platform more accessible. Jiaona Zhang, a representative from Webflow, acknowledges that the learning curve for Webflow can be high due to its powerful features. However, she emphasizes that they are actively developing new tools and resources to make it easier for users to learn and utilize Webflow. They are bringing together the magic of Webflow University and AI to provide a more seamless and contextual learning experience within the product itself. Additionally, Jiaona encourages users to provide feedback and share their challenges to help refine their upcoming course on managing a PM career. Overall, Webflow is committed to enhancing user satisfaction and empowering them to be successful.

    Recent Episodes from Lenny's Podcast: Product | Growth | Career

    Lessons from a two-time unicorn builder, 50-time startup advisor, and 20-time company board member | Uri Levine (co-founder of Waze)

    Lessons from a two-time unicorn builder, 50-time startup advisor, and 20-time company board member | Uri Levine (co-founder of Waze)

    Uri Levine is the co-founder of Waze, the world’s largest community-based traffic and navigation app, acquired by Google for over $1 billion. He’s also founded nine other companies, been on the board of 20 companies, and advised more than 50 companies. He’s most recently the author of Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs, hailed by Steve Wozniak as the “Bible for entrepreneurs.” Uri is dedicated to creating impactful startups that solve real-world problems and has seen everything from failure to moderate success to big success. In our conversation, we dig into:

    • Why falling in love with the problem is key to startup success

    • The phases of the startup journey and how to navigate them

    • Why firing is more important than hiring

    • How Waze iterated to achieve product-market fit

    • Tactics for telling a compelling story when fundraising

    • Much more

    Brought to you by:

    Vanta—Automate compliance. Simplify security

    Mercury—The powerful and intuitive way for ambitious companies to bank

    LinkedIn Ads—Reach professionals and drive results for your business

    Find the transcript at: https://www.lennysnewsletter.com/p/lessons-from-uri-levine

    Where to find Uri Levine:

    • X: https://twitter.com/urilevine1

    • LinkedIn: https://www.linkedin.com/in/uri-levine

    • Website: https://urilevine.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Uri’s background

    (02:50) Falling in love with the problem

    (09:03) Signs this is a big enough problem

    (10:54) The importance of passion

    (12:06) A pivot example

    (14:01) Where to find startup ideas

    (21:57) Finding product-market fit at Waze

    (29:45) The different phases of a startup journey

    (36:47) What investors don’t want to hear

    (39:53) Fundraising tips

    (48:02) How to make your presentations stronger

    (50:32) A wild fundraising story

    (53:46) Firing and hiring

    (59:50) The 30-day test

    (01:04:12) Understanding users

    (01:12:10) Talking to the right users

    (01:15:36) Lightning round

    Referenced:

    Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs: https://www.amazon.com/Fall-Love-Problem-Solution-Entrepreneurs/dp/1637741987

    • Waze: https://www.waze.com/

    • Ben Horowitz on LinkedIn: https://www.linkedin.com/in/behorowitz/

    • Ben Horowitz quote: https://quotefancy.com/quote/1635284/Ben-Horowitz-As-a-startup-CEO-I-slept-like-a-baby-I-woke-up-every-2-hours-and-cried

    • Michael Jordan quote: https://www.forbes.com/quotes/11194/#:~:text=I've%20lost%20almost%20300,that%20is%20why%20I%20succeed.

    • Steph Curry: https://en.wikipedia.org/wiki/Stephen_Curry

    • How Airbnb Used Word of Mouth to Change the Travel Industry Forever: https://truested.com/story/airbnb

    • Space Mountain: https://en.wikipedia.org/wiki/Space_Mountain_(Disneyland)

    • How Netflix builds a culture of excellence | Elizabeth Stone (CTO): https://www.lennysnewsletter.com/p/how-netflix-builds-a-culture-of-excellence

    • Steve Wozniak on LinkedIn: https://www.linkedin.com/in/wozniaksteve/

    • Uri’s post about the conference in Guatemala with Steve Wozniak: https://www.linkedin.com/posts/uri-levine_jewishnewyear-speakers-book-activity-6980089544079486976-0ADa/

    • Leonardo da Vinci quote: https://www.goodreads.com/quotes/9010638-simplicity-is-the-ultimate-sophistication-when-once-you-have-tasted

    • Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market: https://www.lennysnewsletter.com/p/geoffrey-moore-on-finding-your-beachhead

    • Nana Korobi Ya Oki: https://ikigaitribe.com/vlog/nana-korobi-ya-oki/

    That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea: https://www.amazon.com/That-Will-Never-Work-Netflix/dp/0316530204

    Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299

    • 8 Great Chess Apps for Beginners and Grand Masters: https://www.wired.com/story/best-chess-apps/

    • Pontera: https://pontera.com/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Inside Canva: Coaches not managers, giving away your Legos, and running profitably | Cameron Adams (co-founder and CPO)

    Inside Canva: Coaches not managers, giving away your Legos, and running profitably | Cameron Adams (co-founder and CPO)

    Cameron Adams is the co-founder and chief product officer of Canva. Canva is one of the world’s most valuable private software companies, used by 95% of Fortune 500 companies. Since its launch in 2013, Canva has grown to over 150 million monthly users in more than 190 countries, generating $2.3 billion in annual revenue. Prior to Canva, Cameron ran a design consultancy, worked at Google on Google Wave, and founded the email startup Fluent. He is also an author of five web design books and a regular speaker at global conferences. In our conversation, we discuss:

    • Why they spent a year building their minimum viable product (MVP) before launch

    • Why Canva has no managers, and their unique approach to coaching and performance reviews

    • Why they encourage employees to “give away their Legos”

    • Insights into Canva’s SEO growth strategy

    • Their three-pillar framework for integrating AI into their product

    • Stories from the early days

    Brought to you by:

    WorkOS—Modern identity platform for B2B SaaS, free up to 1 million MAUs

    Attio—The powerful, flexible CRM for fast-growing startups

    Vanta—Automate compliance. Simplify security.

    Find the transcript at: https://www.lennysnewsletter.com/p/inside-canva-with-cameron-adams

    Where to find Cameron Adams:

    • X: https://twitter.com/themaninblue

    • LinkedIn: https://www.linkedin.com/in/themaninblue

    • Website: https://themaninblue.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Cameron’s background

    (02:00) Reflecting on the success of Canva

    (04:50) Reflecting on hard times

    (10:01) Canva’s product-obsessed culture

    (12:02) Why they prioritize internal promotions and hires

    (13:56) What makes Canva unique

    (16:31) The concept of giving away your Legos

    (21:44) Why Canva has no managers

    (24:29) Product management at Canva

    (27:56) Reflections on working with a married couple

    (30:37) Why they spent a year building their MVP before launch

    (33:49) Advice for building an MVP

    (41:23) Canva’s onboarding transformation

    (44:25) Canva’s SEO strategy

    (50:37) The success of Canva’s freemium strategy

    (54:24) Integrating AI into Canva’s product

    (01:01:50) Where to find Cameron

    Referenced:

    • Canva: https://www.canva.com/

    • Melanie Perkins on LinkedIn: https://www.linkedin.com/in/melanieperkins

    • Cliff Obrecht on LinkedIn: https://www.linkedin.com/in/cliff-obrecht-79ba9920

    • Jennie Rogerson, Head of People, LinkedIn post about “season opener” events: https://www.linkedin.com/posts/jennierogerson_season-opener-is-one-of-my-favourite-events-activity-7006815614556135424-73bD/

    Game of Thrones on HBO: https://www.hbo.com/game-of-thrones

    • Woodstock: https://en.wikipedia.org/wiki/Woodstock

    • ‘Give Away Your Legos’ and Other Commandments for Scaling Startups: https://review.firstround.com/give-away-your-legos-and-other-commandments-for-scaling-startups/

    • Minimum viable product (MVP): https://www.productboard.com/glossary/minimum-viable-product-mvp

    • Canva’s SEO Strategy Is Elite: https://thegrowthplaybook.substack.com/p/canvas-seo-strategy-is-elite

    • The SEO Strategy That Led Canva to a $40 Billion Valuation: https://www.youtube.com/watch?v=INyGKt6LAqM

    • Andrianes Pinantoan on LinkedIn: https://www.linkedin.com/in/andrianes/

    • Canva Create: https://www.canva.com/canva-create/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    The surprising truth about what closes deals: Insights from 2.5m sales conversations | Matt Dixon (author of The Challenger Sale and The JOLT Effect)

    The surprising truth about what closes deals: Insights from 2.5m sales conversations | Matt Dixon (author of The Challenger Sale and The JOLT Effect)

    Matt Dixon is one of the world’s foremost experts in sales and the author of The Challenger Sale, which sold over a million copies worldwide and was a #1 Amazon and Wall Street Journal bestseller. His most recent book, The JOLT Effect, focuses on overcoming customer indecision—one of the biggest challenges to closing deals. Outside of writing, Matt co-founded DCM Insights, a boutique consultancy helping organizations understand customer behavior, and is a frequent contributor to the Harvard Business Review, with more than 20 print and online articles to his credit. In our conversation, we discuss:

    • Why 40% to 60% of qualified sales opportunities are lost due to customer indecision

    • Why dialing up FOMO doesn’t work, and what to do instead

    • The “pings and echoes” technique to catch issues early

    • The JOLT method for overcoming indecision

    • Key lessons from The Challenger Sale

    • Practical examples of how to apply these principles to close more deals

    Brought to you by:

    Enterpret—Transform customer feedback into product growth

    Webflow—The web experience platform

    Heap—Cross-platform product analytics that converts, engages, and retains customers

    Find the transcript at: https://www.lennysnewsletter.com/p/close-more-deals-matt-dixon

    Where to find Matt Dixon:

    • LinkedIn: https://www.linkedin.com/in/matthewxdixon

    • Website: https://www.jolteffect.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Matt’s background

    (01:57) The research behind Matt’s books

    (06:08) Insights from The JOLT Effect

    (10:15) FOMO vs. FOMU

    (18:18) An example of selling software

    (26:04) The JOLT method Step 1: Judge their level of indecision

    (29:41) The “pings and echoes” technique

    (34:49) Step 2: Offer a recommendation

    (38:36) Step 3: Limit the exploration

    (41:43) Step 4: Take risk off the table

    (45:58) When to hit the pause button with a customer

    (47:27) Insights from The Challenger Sale

    (49:07) An example of a challenger sale

    (55:23) Where to find Matt

    Referenced:

    • A step-by-step guide to crafting a sales pitch that wins | April Dunford (author of Obviously Awesome and Sales Pitch): https://www.lennysnewsletter.com/p/a-step-by-step-guide-to-crafting

    The Challenger Sale: Taking Control of the Customer Conversation: https://www.amazon.com/Challenger-Sale-Control-Customer-Conversation/dp/0670922854

    The JOLT Effect: How High Performers Overcome Customer Indecision: https://www.amazon.com/JOLT-Effect-Performers-Overcome-Indecision/dp/0593538102

    • Gartner acquires CEB: https://www.gartner.com/en/about/acquisitions/history/ceb-acquisition

    Tiger King on Netflix: https://www.netflix.com/title/81115994

    • Why sourdough went viral: https://www.economist.com/1843/2020/08/04/why-sourdough-went-viral

    • Neil Rackham: https://en.wikipedia.org/wiki/Neil_Rackham

    • Status quo bias in decision-making: https://en.wikipedia.org/wiki/Status_quo_bias

    • Omission bias: https://thedecisionlab.com/biases/omission-bias

    • Gartner Magic Quadrant & Critical Capabilities: https://www.gartner.com/en/research/magic-quadrant

    • Dunning-Kruger effect: https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

    • Stop Losing Sales to Customer Indecision: https://hbr.org/2022/06/stop-losing-sales-to-customer-indecision

    • Dentsply Sirona: https://www.dentsplysirona.com/

    • “We happy?” Briefcase scene from Tarantino’s Pulp Fiction: https://www.youtube.com/watch?v=FGchDuOpbhE

    • Nupro Freedom Cordless Prophy System: https://www.dentsplysirona.com/en-us/discover/discover-by-category/preventive/hygiene-handpieces.html

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Unorthodox frameworks for growing your product, career, and impact | Bangaly Kaba (YouTube, Instagram, Facebook, Instacart)

    Unorthodox frameworks for growing your product, career, and impact | Bangaly Kaba (YouTube, Instagram, Facebook, Instacart)

    Bangaly Kaba was an early growth PM at Facebook, head of growth at Instagram, and VP of Product at Instacart and is currently Director of Product at YouTube overseeing a global team working on creator monetization. Bangaly has also been a growth advisor to dozens of companies, including Twitter, on the board of multiple companies, and is an active angel investor. In our conversation, we discuss:

    • A simple framework for choosing where to work and what to work on

    • The importance of “understand work”

    • The “adjacent users” theory and how it can help you drive growth

    • Advice for coaching product managers

    • Invaluable lessons from his time at Instagram, Facebook, and YouTube

    • Much more

    Brought to you by:

    Uizard—AI-powered prototyping for visionary product leaders

    Mercury—The powerful and intuitive way for ambitious companies to bank

    Vanta—Automate compliance. Simplify security.

    Find the transcript and references at: https://www.lennysnewsletter.com/p/frameworks-for-growing-your-career-bangaly-kaba

    Where to find Bangaly Kaba:

    • X: https://twitter.com/iambangaly

    • LinkedIn: https://www.linkedin.com/in/iambangaly/

    • Instagram: https://www.instagram.com/iambangaly/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Bangaly’s background

    (06:31) Choosing where to work and what to work on

    (08:39) The impact factor

    (10:53) Evaluating the environment

    (15:53) The manager component

    (18:27) The skills part of the equation

    (23:49) Advice on finding a mentor

    (25:42) The power of “understand work”

    (31:17) Operationalizing understand work

    (37:55) Balancing understand work

    (41:25) Managing complex change

    (45:26) Effective management of product managers

    (51:35) The role of product managers as coaches and team leaders

    (54:52) Driving growth through flywheels and value proposition

    (01:03:14) Understanding adjacent users

    (01:08:41) The role of partnerships and SEO in Instagram’s early growth

    (01:16:08) The secret behind Instagram’s growth

    (01:25:37) Lessons from Facebook

    (01:29:15) Failure corner

    (01:31:58) Lightning round

    Referenced:

    • Impact = Environment x Skills: How to Make Career Decisions: https://www.reforge.com/blog/how-to-make-career-decisions

    • Thinking beyond frameworks | Casey Winters (Pinterest, Eventbrite, Airbnb, Tinder, Canva, Reddit, Grubhub): https://www.lennysnewsletter.com/p/thinking-beyond-frameworks-casey

    • Casey Winters’s blog: https://caseyaccidental.com/

    • Ben Thompson’s newsletter: https://stratechery.com/about/

    • Elena Verna on how B2B growth is changing, product-led growth, product-led sales, why you should go freemium not trial, what features to make free, and much more: https://www.lennysnewsletter.com/p/elena-verna-on-why-every-company

    • George Lee on LinkedIn: https://www.linkedin.com/in/geolee/

    • Bangaly Kaba: The Path to 1 Billion: Lessons Learned from Growing Instagram—CXL LIVE 2018: https://www.youtube.com/watch?v=L9ZHlb6kj_E

    • What Is ‘Dogfooding’?: https://www.nytimes.com/2022/11/14/business/dogfooding.html

    • Bloom’s taxonomy: https://en.wikipedia.org/wiki/Bloom%27s_taxonomy

    • Kevin Systrom on LinkedIn: https://www.linkedin.com/in/kevinsystrom/

    • Mike Krieger on LinkedIn: https://www.linkedin.com/in/mikekrieger/

    • LeBron James: https://en.wikipedia.org/wiki/LeBron_James

    • Kobe Bryant: https://en.wikipedia.org/wiki/Kobe_Bryant

    •  Mike Krzyzewski: https://en.wikipedia.org/wiki/Mike_Krzyzewski

    • John Calipari: https://en.wikipedia.org/wiki/John_Calipari

    • Stripe: https://stripe.com/

    • Chief: https://chief.com/

    • Jobs to be done framework: https://jobs-to-be-done.com/jobs-to-be-done-a-framework-for-customer-needs-c883cbf61c90

    • The Adjacent User: https://brianbalfour.com/quick-takes/the-adjacent-user

    • How the biggest consumer apps got their first 1,000 users: https://www.lennysnewsletter.com/p/how-the-biggest-consumer-apps-got

    • Alex Zhu on LinkedIn: https://www.linkedin.com/in/keepsilence/

    • From Brush to Canvas with Alex Zhu of Musical.ly: https://www.youtube.com/watch?v=ey15v81pwII

    • Selena Gomez on Instagram: https://www.instagram.com/selenagomez/

    • Kim Kardashian on Instagram: https://www.instagram.com/kimkardashian/

    • Rob Andrews on LinkedIn: https://www.linkedin.com/in/robby-andrews-64669720/

    • Instagram’s growth speeds up as it hits 700 million users: https://techcrunch.com/2017/04/26/instagram-700-million-users/

    Range: Why Generalists Triumph in a Specialized World: https://www.amazon.com/Range-Generalists-Triumph-Specialized-World/dp/0735214484

    Deep Work: Rules for Focused Success in a Distracted World: https://www.amazon.com/Deep-Work-Focused-Success-Distracted/dp/1455586692

    Start at the End: How to Build Products That Create Change: https://www.amazon.com/Start-End-Products-Create-Change/dp/0525534423

    • Flighty app: https://www.flightyapp.com/

    • Adam Grant on Instagram: https://www.instagram.com/adamgrant/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Why not asking for what you want is holding you back | Kenneth Berger (exec coach, first PM at Slack)

    Why not asking for what you want is holding you back | Kenneth Berger (exec coach, first PM at Slack)

    Kenneth Berger coaches startup leaders on how to prevent burnout, advocate for their desired lifestyle, and make a meaningful impact on the world. He’s spent more than 20 years in the tech industry, is a former founder backed by top investors, and was the first product manager at Slack. Kenneth’s core mission is to help startup leaders change the world by learning to ask for what they want, living with integrity, and building genuine relationships even with the people they find most challenging. Currently he is writing a book, Ask for What You Want, in which he aims to share his actionable strategies for creating change in the world. In our conversation, we explore:

    • Why asking for what you want is so impactful

    • Three steps to effectively ask for what you want

    • Challenges that arise when people struggle to ask for what they want

    • Why hearing “no” is a normal part of the process

    • The “dream behind the complaint” technique for uncovering desires

    • Kenneth’s experience of being fired three times from Slack

    • How embracing fear and discomfort is key to getting what you want

    • Why discipline is overrated

    Brought to you by:

    Sidebar—Accelerate your career by surrounding yourself with extraordinary peers

    Webflow—The web experience platform

    Vanta—Automate compliance. Simplify security

    Find the transcript at: https://www.lennysnewsletter.com/p/ask-for-what-you-want-kenneth-berger

    Where to find Kenneth Berger:

    • X: https://twitter.com/kberger

    • Threads: https://www.threads.net/@kberger

    • LinkedIn: https://www.linkedin.com/in/kberger/

    • Website: https://kberger.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Kenneth’s background

    (04:31) The importance of asking for what you want

    (06:36) Challenges that arise when people struggle to ask for what they want

    (08:09) A personal example of failing to ask for what you want

    (09:17) Signs this is a skill you need to work on

    (10:49) How to get better at knowing what you want

    (15:28) Why hearing “no” is a normal part of the process

    (17:29) Getting a “yes” vs. a “hell yes”

    (19:20) Step 1: Articulate what you want

    (24:07) Doing an integrity check

    (26:56) Step 2: Ask for what you want intentionally

    (30:45) Understanding your influence

    (34:48) Using complaints as inspiration

    (36:24) Internal family systems

    (38:00) Giving feedback

    (41:24) Step 3: Accept the response

    (45:22) Kenneth’s experience of being fired three times from Slack

    (57:30) Advice on being the first PM at a company or startup

    (01:04:58) Contrarian corner: anti-discipline

    (01:05:52) Lightning round

    Referenced:

    • Joining as the first product manager: https://www.lennysnewsletter.com/p/joining-as-the-first-product-manager

    • Internal Family Systems: https://ifs-institute.com/

    • How to build deeper, more robust relationships | Carole Robin (Stanford GSB professor, “Touchy Feely”): https://www.lennysnewsletter.com/p/build-robust-relationships-carole-robin

    • Leaders in Tech: https://leadersintech.org/

    • The Three Realities Framework | The 15% Rule | Feedback Guidelines: https://www.lennysnewsletter.com/p/build-robust-relationships-carole-robin

    • T-group weekends at Stanford: https://www.gsb.stanford.edu/experience/learning/leadership/interpersonal-dynamics/facilitation-training-program/intro-tgroup

    • DBT skill DEAR MAN: https://www.therapistaid.com/therapy-worksheet/dbt-dear-man

    • Dialectical behavior therapy (DBT): https://my.clevelandclinic.org/health/treatments/22838-dialectical-behavior-therapy-dbt

    • Vision, conviction, and hype: How to build 0 to 1 inside a company | Mihika Kapoor (Product at Figma): https://www.lennysnewsletter.com/p/vision-conviction-hype-mihika-kapoor

    • Stewart Butterfield on LinkedIn: https://www.linkedin.com/in/butterfield/

    • How to fire people with grace, work through fear, and nurture innovation | Matt Mochary (CEO coach): https://www.lennysnewsletter.com/p/how-to-fire-people-with-grace-work

    Radical Candor: Be a Kick-Ass Boss Without Losing Your Humanity: https://www.amazon.com/Radical-Candor-Kick-Ass-Without-Humanity/dp/1250103509

    • Radical Candor: From theory to practice with author Kim Scott: https://www.lennysnewsletter.com/p/radical-candor-from-theory-to-practice

    • Jonny Miller’s Nervous System Mastery course: https://nsmastery.com/lenny

    • Managing nerves, anxiety, and burnout | Jonny Miller (Nervous System Mastery): https://www.lennysnewsletter.com/p/managing-nerves-anxiety-and-burnout

    The 15 Commitments of Conscious Leadership: A New Paradigm for Sustainable Success: https://www.amazon.com/15-Commitments-Conscious-Leadership-Sustainable-ebook/dp/B00R3MHWUE

    Break Point on Netflix: https://www.netflix.com/title/81569920

    Living on Netflix: https://www.netflix.com/title/81582076

    • Wimbledon tennis: https://www.wimbledon.com

    • Wenshan Baozhong tea: https://redblossomtea.com/products/wenshan-baozhong?variant=31629962820

    • Tea From Taiwan: https://www.teafromtaiwan.com/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Be fundamentally different, not incrementally better | Jag Duggal (Nubank, Facebook, Google, Quantcast)

    Be fundamentally different, not incrementally better | Jag Duggal (Nubank, Facebook, Google, Quantcast)

    Jag Duggal is chief product officer at Nubank, a decacorn neobank founded in Brazil. It’s valued at over $30 billion, is bigger than Coinbase, Robinhood, Affirm, and SoFi combined, has 100 million customers (more than Bank of America!) while only operating in three countries in Latin America, and 80% to 90% of its growth comes through word of mouth. Prior to Nubank, Jag was a director of product management at Facebook, a senior vice president at Quantcast, and a product leader at Google. In our conversation, we discuss:

    • How Nubank builds a fanatical user base

    • Tactics for driving word-of-mouth growth

    • Measuring customer love through the Sean Ellis score

    • The importance of strategic clarity

    • The role of category design in creating successful products

    • Why companies should strive to be “fundamentally different,” not “incrementally better”

    • Nubank’s vision for an AI-powered banking future

    Brought to you by:

    WorkOS—Modern identity platform for B2B SaaS, free up to 1 million MAUs

    Mercury—The powerful and intuitive way for ambitious companies to bank

    OneSchema—Import CSV data 10x faster

    Find the transcript at: https://www.lennysnewsletter.com/p/be-fundamentally-different-jag-duggal

    Where to find Jag Duggal:

    • LinkedIn: https://www.linkedin.com/in/jagduggal/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Jag’s background

    (04:34) Nubank’s remarkable achievements

    (06:01) Nubank’s product development process

    (11:23) Nubank’s values

    (12:16) Building products people love fanatically

    (15:21) The Sean Ellis score

    (21:27) An example project using the Sean Ellis score

    (25:07) Picking up the phone and calling customers

    (28:20) The importance of starting small and iterating

    (30:42) Pushing back effectively

    (34:10) Uncovering pain points through customer research

    (37:53) An example of setting a clear hypothesis

    (42:01) Developing a strategy

    (52:16) “Be fundamentally different, not incrementally better”

    (53:10) Category design

    (57:37) Nubank’s founding story and goals for the future

    (01:00:46) Advice for adding new product lines

    (01:03:46) The future of fintech and banking

    (01:09:23) AI corner

    (01:12:34) Failure corner

    (01:20:24) Key takeaways

    (01:22:11) Lightning round

    Referenced:

    • Nubank: https://nubank.com.br/en/

    • Coinbase: https://www.coinbase.com/

    • Robinhood: https://www.robinhood.com/

    • SoFi: https://www.sofi.com/

    • Affirm: https://www.affirm.com/

    • Lemonade: https://www.lemfi.com/

    • Bank of America: https://www.bankofamerica.com/

    • Nubank achieves a world record with more than 7 million people participating in NuBolão in one month: https://building.nubank.com.br/nubank-achieves-world-record-with-nubolao

    • Nu México carries out first financial transaction 20 meters under the depth of the sea: https://www.bnamericas.com/en/news/nu-mexico-carries-out-first-financial-transaction-20-meters-under-the-depth-of-the-sea

    • David Vélez on LinkedIn: https://www.linkedin.com/in/david-v%C3%A9lez-1004875

    • Cristina Junqueira on LinkedIn: https://www.linkedin.com/in/crisjunqueira

    • Edward Wible on LinkedIn: https://www.linkedin.com/in/adamedwardwible

    • Sequoia Capital: https://www.sequoiacap.com/

    • Churrascaria: https://en.wikipedia.org/wiki/Churrascaria

    • Nubank’s real foundation: our culture and values: https://building.nubank.com.br/nubank-culture-and-values/

    • Working Backwards Press Release Template and Example: https://www.linkedin.com/pulse/working-backwards-press-release-template-example-ian-mcallister/

    • Sean Ellis test: https://productcoalition.com/using-sean-ellis-test-for-measuring-your-product-market-fit-c8ac98053c2c

    • How to know if you’ve got product-market fit: https://www.lennysnewsletter.com/p/how-to-know-if-youve-got-productmarket

    • Reid Hoffman on LinkedIn: https://www.linkedin.com/in/reidhoffman/

    • Ultravioleta: Nubank expands its premium card offer and adds new features on the product’s first anniversary: https://international.nubank.com.br/company/ultravioleta-nubank-expands-its-premium-card-offer-and-adds-new-features-on-the-products-first-anniversary/

    • Jeff Bezos: Amazon and Blue Origin | Lex Fridman Podcast #405: https://www.youtube.com/watch?v=DcWqzZ3I2cY

    • The Innovation Method Behind Swiffer Madness: https://www.fastcompany.com/3006797/innovation-method-behind-swiffer-madness

    • Kevin Systrom on LinkedIn: https://www.linkedin.com/in/kevinsystrom/

    • Good Strategy, Bad Strategy | Richard Rumelt: https://www.lennysnewsletter.com/p/good-strategy-bad-strategy-richard

    Good Strategy/Bad Strategy: The Difference and Why It Matters: https://www.amazon.com/Good-Strategy-Bad-Difference-Matters/dp/0307886239

    The Crux: How Leaders Become Strategists: https://www.amazon.com/Crux-How-Leaders-Become-Strategists/dp/1541701240/

    • How to become a category pirate | Christopher Lochhead (author of Play Bigger, Niche Down, Category Pirates, more): https://www.lennysnewsletter.com/p/how-to-become-a-category-pirate-christopher

    Play Bigger: How Pirates, Dreamers, and Innovators Create and Dominate Markets: https://www.amazon.com/Play-Bigger-Dreamers-Innovators-Dominate/dp/0062407619

    Playing to Win: How Strategy Really Works: https://www.amazon.com/Playing-Win-Strategy-Really-Works/dp/142218739X

    • A framework for finding product-market fit | Todd Jackson (First Round Capital): https://www.lennysnewsletter.com/p/a-framework-for-finding-product-market

    • Citi: https://www.citi.com/

    • Santander Bank: https://www.santanderbank.com/

    • Fidji Sumo on LinkedIn: https://www.linkedin.com/in/fidjisimo/

    • Harvard Kennedy School: https://www.hks.harvard.edu/

    • Susan Wojcicki on LinkedIn: https://www.linkedin.com/in/susan-wojcicki-b136a99/

    • Coldplay—“Lost+” ft. Jay-Z: https://www.youtube.com/watch?v=PkCDRm_YRFg

    • Google Buys DoubleClick for $3.1 Billion: https://www.nytimes.com/2007/04/14/technology/14DoubleClick.html

    • Real-time bidding: https://support.google.com/authorizedbuyers/answer/6136272

    From Third World to First: The Singapore Story: 1965-2000: https://www.amazon.com/Third-World-First-Singapore-1965-2000/dp/0060197765/

    The Gilded Age on HBO: https://www.hbo.com/the-gilded-age

    • Lomi: https://lomi.com/

    • Nubank careers: https://international.nubank.com.br/careers/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    A framework for PM skill development | Vikrama Dhiman (Gojek)

    A framework for PM skill development | Vikrama Dhiman (Gojek)

    Vikrama Dhiman heads all things product at Gojek, including product management, design, program management, and research, across Indonesia, Singapore and India. He has over 16 years of experience building internet products, consults with Fortune 500 companies, and is among the most well-known and respected product leaders in all of Asia. In our conversation, we discuss:

    • The most common traits among successful product managers

    • The 3 W’s framework for PM career growth

    • The Four A’s of leveling up in product management

    • The right way to push back as a PM

    • Common pitfalls that stall PM careers

    • Vikrama’s advice for transitioning into product management

    • Why intent alone is not enough

    Brought to you by:

    Uizard—AI-powered prototyping for visionary product leaders

    Webflow—The web experience platform

    Coda—The all-in-one collaborative workspace

    Find the transcript at: https://www.lennysnewsletter.com/p/a-framework-for-pm-skill-development

    Where to find Vikrama Dhiman:

    • X: https://twitter.com/vikramadhiman

    • LinkedIn: https://www.linkedin.com/in/vikrama/

    • Website: https://www.vikramadhiman.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Vikrama’s background

    (03:56) Three common traits among great PMs

    (07:09) The first W: What you produce

    (15:40) The second W: What you bring to the table

    (18:58) The third W: What’s your operating model?

    (20:36) Three traits that make you a great PM to work with

    (21:49) How to improve the quality and quantity of your outputs

    (23:26) The art of the pushback

    (26:55) Common factors that impede career growth

    (33:39) Vikrama’s personal reflections

    (39:33) Choosing which skill(s) to focus on developing

    (46:28) The ambiguity of the PM role

    (51:47) The 8 axis for PM growth

    (56:57) Contrarian corner: Why intent alone is not enough

    (59:30) Lightning round

    Referenced:

    • Taxi mafias, cash vaults, and 100% MoM growth: The story behind Southeast Asia’s biggest startup | Kevin Aluwi (Gojek): https://www.lennysnewsletter.com/p/taxi-mafias-cash-vaults-and-100-mom

    • How to scrappily hire for, measure, and unlock growth | Crystal Widjaja, Gojek and Kumu: https://www.lennysnewsletter.com/p/how-to-hire-for-measure-and-unlock

    • Gojek: https://www.gojek.com/en-id

    • SQL: https://en.wikipedia.org/wiki/SQL

    • Oracle: https://www.oracle.com/

    • Crystal Widjaja on LinkedIn: https://www.linkedin.com/in/crystalwidjaja

    • Raditya Wibowo: https://www.linkedin.com/in/raditya-wibowo-a0845436/?originalSubdomain=id

    • Sidu Ponnappa on LinkedIn: https://www.linkedin.com/in/sidup

    • Leveraging mentors to uplevel your career | Jules Walter (YouTube, Slack): https://www.lennysnewsletter.com/p/leveraging-mentors-to-uplevel-your

    • Kevin Aluwi on LinkedIn: https://www.linkedin.com/in/kaluwi/

    • Workday: https://www.workday.com/

    • Salesforce: https://www.salesforce.com/

    Small Data: The Tiny Clues That Uncover Huge Trends: https://www.amazon.com/Small-Data-Clues-Uncover-Trends/dp/1250080681

    Originals: How Non-Conformists Move the World: https://www.amazon.com/Originals-How-Non-Conformists-Move-World/dp/014312885X

    Thinking, Fast and Slow: https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555

    Miss Congeniality on Prime Video: https://www.amazon.com/Miss-Congeniality-Sandra-Bullock/dp/B002R5HQDK

    Schitt’s Creek on Prime Video: https://www.amazon.com/Schitts-Creek/dp/B083LDRW9F

    • DramaBox: https://www.dramaboxapp.com/

    Am I Overthinking This?: Over-Answering Life’s Questions in 101 Charts: https://www.amazon.com/Am-Overthinking-This-Over-answering-questions/dp/1452175861/

    Crazy Rich Asians on Prime Video: https://www.amazon.com/Crazy-Rich-Asians-Constance-Wu/dp/B07JGJFXBF

    • 9 Best Hawker Centers in Singapore—and What to Eat There: https://www.afar.com/magazine/best-hawker-centers-in-singapore-and-what-to-eat-there

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Business strategy with Hamilton Helmer (author of 7 Powers)

    Business strategy with Hamilton Helmer (author of 7 Powers)

    Hamilton Helmer is one of the world’s leading experts on business strategy and the author of the seminal book 7 Powers: The Foundations of Business Strategy, which provides a comprehensive framework for understanding what it really takes to achieve and sustain a competitive advantage. With more than three decades of experience in the strategic consulting industry, Hamilton has advised over 200 companies—from burgeoning startups to Fortune 100 giants—on how to identify, build, and leverage their unique strategic powers. In our conversation, we discuss:

    • Potential sources of power that startups should develop from an early stage

    • Common misconceptions among companies about the types of power they possess

    • How power relates to strategy

    • The difference between a moat and a power

    • Practical strategies for non-leaders to leverage insights about power and strategy in their work

    • AI’s impact on competitive advantages and barriers to entry

    Brought to you by:

    WorkOS—Modern identity platform for B2B SaaS, free up to 1 million MAUs

    Vanta—Automate compliance. Simplify security

    Paragon—Ship every SaaS integration your customers want

    Find the transcript and references at: https://www.lennysnewsletter.com/p/business-strategy-with-hamilton-helmer

    Where to find Hamilton Helmer:

    • X: https://twitter.com/hamiltonhelmer

    • LinkedIn: https://www.linkedin.com/in/hamilton-helmer-42983/

    • Website: https://7powers.com/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Hamilton’s background

    (04:08) When power becomes important

    (08:24) How strategy relates to power

    (12:09) How power informs strategy

    (14:46) The sequence of powers

    (21:13) Common misconceptions

    (24:39) Network effects vs. network economies

    (26:58) Uber’s success

    (29:16) Moats vs. powers

    (31:12) Strategies for non-leaders to leverage power and strategy

    (37:51) Advice on how to become a strategic thinker

    (39:27) AI’s impact on the seven powers

    (45:43) Why moving fast is not a power

    (50:24) Three things that create value in a company

    (51:16) The debt trajectory of the U.S.

    (56:35) Optimism for the future

    (59:25) Lightning round

    Referenced:

    7 Powers: The Foundations of Business Strategy: https://www.amazon.com/7-Powers-Foundations-Business-Strategy/dp/0998116319

    • John von Neumann: https://en.wikipedia.org/wiki/John_von_Neumann

    • Pearl Harbor: https://www.history.com/topics/world-war-ii/pearl-harbor

    • Where the Japanese Went Wrong at Pearl Harbor: https://pearlharbor.org/blog/where-japanese-went-wrong-pearl-harbor/

    • The ‘7 Powers’ of business success—from one of Netflix’s early investors: https://www.qualitycompounders.com.au/post/the-7-powers-of-business-success-from-one-of-netflix-s-early-investors

    • 7 Powers: Foundations of Business Strategy (Key Takeaways): https://www.linkedin.com/pulse/7-powers-foundations-business-strategy-key-takeaways-nikita-maloo/

    • Strategy Capital: https://strategycapital.com/

    • Warren Buffett: https://www.forbes.com/profile/warren-buffett/

    • Charlie Munger: https://www.forbes.com/profile/charles-munger/

    • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger: https://www.stripe.press/poor-charlies-almanack

    • Bill Gates reveals why Warren Buffett was an invaluable source of support during the stormiest period of his career: https://www.businessinsider.com/bill-gates-interview-warren-buffett-support-microsoft-antitrust-lawsuit-2019-6

    •  Billionaire Warren Buffett’s Secret Love Affair With Castles, Revealed: https://www.thestreet.com/opinion/billionaire-warren-buffett-s-secret-love-affair-with-castles-revealed-14290973

    • Netflix didn’t kill Blockbuster—how Netflix almost lost the movie rental wars: https://www.cnbc.com/2020/09/22/how-netflix-almost-lost-the-movie-rental-wars-to-blockbuster.html

    • Michael Porter on LinkedIn: https://www.linkedin.com/in/professorporter/

    • What Is Strategy?: https://hbr.org/1996/11/what-is-strategy

    • TSMC: https://www.tsmc.com/english

    • Toyota Production System: https://en.wikipedia.org/wiki/Toyota_Production_System

    • America will be left with ‘severe, irreversible scars’ if national debt goes unchecked. Now, a blockbuster report warns the bill is higher than believed, hitting $141T by 2054: https://fortune.com/2024/04/01/america-social-economic-scars-us-debt-gomes-price/

    • Ben S. Bernanke: https://www.federalreservehistory.org/people/ben-s-bernanke

    • Forty-four of 50 U.S. states worsen inequality with ‘upside-down’ taxes: https://www.theguardian.com/us-news/2024/jan/10/states-wealth-inequality-taxes

    • Joseph A. Schumpeter: https://en.wikipedia.org/wiki/Joseph_Schumpeter

    Theory of Economic Development: https://www.amazon.com/Theory-Economic-Development-Science-Classics/dp/0878556982

    The Road to Reality: A Complete Guide to the Laws of the Universe: https://www.amazon.com/Road-Reality-Complete-Guide-Universe/dp/0679776311

    The Gene: An Intimate History: https://www.amazon.com/Gene-Intimate-History-Siddhartha-Mukherjee/dp/147673352X

    American Fiction on Prime Video: https://www.amazon.com/American-Fiction-Jeffrey-Wright/dp/B0CQKR72NX

    • Farahan Sarouk rugs: https://nazmiyalantiquerugs.com/persian-sarouk-farahan-rugs/

    • Rory Sutherland on LinkedIn: https://www.linkedin.com/in/rorysutherland

    • Ogilvy: https://www.ogilvy.com/

    • Clint Eastwood quote: https://www.brainyquote.com/quotes/clint_eastwood_168005

    • Winston Churchill: https://en.wikipedia.org/wiki/Winston_Churchill

    Michelangelo, God’s Architect: The Story of His Final Years and Greatest Masterpiece: https://www.amazon.com/Michelangelo-Gods-Architect-Greatest-Masterpiece/dp/0691195498

    The Last Judgment: https://en.wikipedia.org/wiki/The_Last_Judgment_(Michelangelo)

    • Theodore Roosevelt: https://www.whitehouse.gov/about-the-white-house/presidents/theodore-roosevelt/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    This will make you a better decision maker | Annie Duke (author of “Thinking in Bets” and “Quit”, former pro poker player)

    This will make you a better decision maker | Annie Duke (author of “Thinking in Bets” and “Quit”, former pro poker player)

    Annie Duke is a former professional poker player, a decision-making expert, and a special partner at First Round Capital. She is the author of Thinking in Bets (a national bestseller) and Quit: The Power of Knowing When to Walk Away and the co-founder of the Alliance for Decision Education, a nonprofit whose mission is to improve lives by empowering students through decision skills education. In our conversation, we cover:

    • What Annie learned from the late Daniel Kahneman

    • The power of pre-mortems and “kill criteria”

    • The relationship between money and happiness

    • The power of “mental time travel”

    • The nominal group technique for better decision quality

    • How First Round Capital improved their decision-making process

    • Many tactical decision-making frameworks

    Brought to you by:

    Vanta—Automate compliance. Simplify security.

    UserTesting—Human understanding. Human experiences.

    LinkedIn Ads—Reach professionals and drive results for your business

    Find the transcript at: https://www.lennysnewsletter.com/p/making-better-decisions-annie-duke

    Where to find Annie Duke:

    • X: https://twitter.com/AnnieDuke

    • LinkedIn: https://www.linkedin.com/in/annie-duke/

    • Website: https://www.annieduke.com/

    • Substack: https://www.annieduke.com/substack/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Annie’s background

    (03:53) Lessons from Daniel Kahneman: humility, curiosity, and open-mindedness

    (09:15) The importance of unconditional love in parenting

    (15:15) Mental time travel and “nevertheless”

    (20:06) The extent of improvement possible in decision-making 

    (24:54) Independent brainstorming for better decisions

    (35:36) Making sure people feel heard

    (42:41) The “3Ds” framework to make better decisions

    (44:49) Decision quality

    (55:46) Improving decision-making at First Round Capital

    (01:05:05) Using pre-mortems and kill criteria

    (01:10:15) Making explicit what’s implicit

    (01:10:55) The challenges of quitting and knowing when to walk away

    (01:19:23) Where to find Annie

    Referenced:

    • Daniel Kahneman, Who Plumbed the Psychology of Economics, Dies at 90: https://www.nytimes.com/2024/03/27/business/daniel-kahneman-dead.html

    • Adversarial collaboration: https://en.wikipedia.org/wiki/Adversarial_collaboration

    • Does more money correlate with greater happiness?: https://penntoday.upenn.edu/news/does-more-money-correlate-greater-happiness-Penn-Princeton-research#

    • Income and emotional well-being: A conflict resolved: https://pubmed.ncbi.nlm.nih.gov/36857342/

    • Strategic decisions: When can you trust your gut?: https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/strategic-decisions-when-can-you-trust-your-gut

    • Cass Sunstein on X: https://twitter.com/CassSunstein

    • Dr. Becky on Instagram: https://www.instagram.com/drbeckyatgoodinside

    • A framework for finding product-market fit | Todd Jackson (First Round Capital): https://www.lennysnewsletter.com/p/a-framework-for-finding-product-market

    • First Round Capital: https://firstround.com/

    • Brett Berson on X: https://twitter.com/brettberson

    • Renegade Partners: https://www.renegadepartners.com/

    • Renata Quintini on X: https://twitter.com/rquintini

    • Roseanne Wincek on X: https://twitter.com/imthemusic

    • Josh Kopelman on X: https://twitter.com/joshk

    • Bill Trenchard on X: https://twitter.com/btrenchard

    • Linnea Gandhi on X: https://twitter.com/linneagandhi

    • Maurice Schweitzer on X: https://twitter.com/me_schweitzer

    • Problems with premortems: https://sjdm.org/presentations/2021-Poster-Gandhi-Linnea-debiasing-premortem-selfserving~.pdf

    • Create a Solid Plan on How to Fail Big This Year: https://www.forbes.com/sites/forbesfinancecouncil/2020/02/07/create-a-solid-plan-on-how-to-fail-big-this-year/

    Quit: The Power of Knowing When to Walk Away: https://www.amazon.com/Quit-Power-Knowing-When-Walk/dp/0593422996/

    • Richard Thaler on X: https://twitter.com/R_Thaler

    • Stewart Butterfield on X: https://twitter.com/stewart

    • Glitch: https://en.wikipedia.org/wiki/Glitch_(video_game)

    • How the Founder of Slack & Flickr Turned Colossal Failures into Billion-Dollar Companies: https://medium.com/swlh/how-the-founder-of-slack-flickr-turned-failures-into-million-and-billion-dollar-companies-7bcaf0d35d66

    • The Most Fascinating Profile You’ll Ever Read About a Guy and His Boring Startup: https://www.wired.com/2014/08/the-most-fascinating-profile-youll-ever-read-about-a-guy-and-his-boring-startup/

    • The Alliance for Decision Education: https://alliancefordecisioneducation.org/

    • Make Better Decisions course on Maven: https://maven.com/annie-duke/make-better-decisions

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Twitter’s former Head of Product opens up: being fired, meeting Elon, changing stagnant culture, building consumer product, more | Kayvon Beykpour

    Twitter’s former Head of Product opens up: being fired, meeting Elon, changing stagnant culture, building consumer product, more | Kayvon Beykpour

    Kayvon Beykpour was the longest-serving head of product at Twitter and was GM of Twitter’s consumer division until the platform was acquired by Elon Musk. He originally joined Twitter in 2015 through the acquisition of his company, Periscope, the largest live video streaming platform at the time. Periscope pioneered technology that inspired Instagram Live, TikTok Live, Facebook Live, and other social networks’ expansion into video streaming. In our conversation, we discuss:

    • The story of being let go from Twitter after Elon’s acquisition

    • How he turned Twitter’s stagnant culture around

    • Kayvon’s thoughts on the limitations of frameworks like Jobs to Be Done

    • Why Periscope failed

    • Advice for building consumer products

    • When to copy, when to innovate

    Brought to you by:

    Enterpret—Transform customer feedback into product growth

    OneSchema—Import CSV data 10x faster

    Heap—Cross-platform product analytics that convert, engage, and retain customers

    Find the transcript at: https://www.lennysnewsletter.com/p/twitters-former-head-of-product-kayvon-beykpour

    Where to find Kayvon Beykpour:

    • X: https://twitter.com/kayvz

    • LinkedIn: https://www.linkedin.com/in/kayvz/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • X: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Kayvon’s background

    (04:31) Getting Elon up to speed at Twitter

    (11:34) The story of being let go from Twitter after Elon’s acquisition

    (21:09) Changing the product culture at Twitter

    (29:44) Building the “hide replies” feature

    (32:02) Sacred crows, taking bold bets, and reigniting growth

    (34:28) Aquihires and their impact

    (42:40) Tips for successful acquisitions and staffing

    (47:00) The limitations of frameworks like JTBD

    (53:20) Signs you’ve gone too far with a framework

    (57:44) Lessons from building Periscope

    (01:00:41) Reasons why Periscope failed

    (01:07:24) The challenges of implementing video at Twitter

    (01:12:05) Copying ideas in good taste

    (01:17:58) How to get better at building consumer products

    (01:19:51) What Kayvon is building

    (01:20:31) Lightning round

    Referenced:

    • Lessons on building product sense, navigating AI, optimizing the first mile, and making it through the messy middle | Scott Belsky (Adobe, Behance): https://www.lennyspodcast.com/lessons-on-building-product-sense-navigating-ai-optimizing-the-first-mile-and-making-it-through-t/

    • What it’s like to sell your startup for ~$120 million before it’s even launched: Meet Twitter’s new prized possession, Periscope: https://www.businessinsider.com/what-is-periscope-and-why-twitter-bought-it-2015-3

    • Walter Isaacson on LinkedIn: https://www.linkedin.com/in/walter-isaacson-b8b81520/

    • Elon Musk on X: https://twitter.com/elonmusk

    • Parag Agrawal on LinkedIn: https://www.linkedin.com/in/parag-agrawal-5a14742a/

    • Jack Dorsey on LinkedIn: https://www.linkedin.com/in/jack-dorsey-a43b07242/

    • Blackboard: https://en.wikipedia.org/wiki/Blackboard_Inc.

    • Keith Coleman on X: https://twitter.com/kcoleman

    • Esther Crawford on LinkedIn: https://www.linkedin.com/in/esthercrawford/

    • Twitter acquires Chroma Labs: https://tech.hindustantimes.com/tech/news/twitter-acquires-chroma-labs-story-aqvcRPAoYXqXJuAbefA6cN.html

    • John Barnett on LinkedIn: https://www.linkedin.com/in/johnbarnettt/

    • Jobs to Be Done framework: https://jobs-to-be-done.com/jobs-to-be-done-a-framework-for-customer-needs-c883cbf61c90

    • Hot takes and techno-optimism from tech’s top power couple: https://www.lennyspodcast.com/hot-takes-and-techno-optimism-from-techs-top-power-couple-sriram-and-aarthi/

    • Nike Is Unveiling the Kobe 11 Tomorrow Using Periscope: https://sneakernews.com/2015/12/13/nike-is-unveiling-the-kobe-11-tomorrow-using-periscope/

    • Chris Sacca’s website: https://chrissacca.com/

    • Facebook Live: https://www.facebook.com/formedia/tools/facebook-live

    • Kevin Hart on X: https://twitter.com/KevinHart4real

    • Clubhouse: https://www.clubhouse.com/

    • Vine: https://en.wikipedia.org/wiki/Vine_(service)

    • Paul Davison on LinkedIn: https://www.linkedin.com/in/davison/

    • Rohan Seth on LinkedIn: https://www.linkedin.com/in/rohanseth/

    Cryptonomicon: https://www.amazon.com/Cryptonomicon-Neal-Stephenson/dp/0380788624

    Reamde: https://www.amazon.com/Reamde-Novel-Neal-Stephenson-ebook/dp/B004XVN0WW

    The Name of the Wind: https://www.amazon.com/Name-Wind-Kingkiller-Chronicle-Book-ebook/dp/B0010SKUYM

    Star Trek official site: https://www.startrek.com/

    Dune: part 2: https://www.dunemovie.com/

    Oppenheimer on Peacock: https://www.peacocktv.com/stream-movies/oppenheimer

    • Tokyo Vice on Max: https://www.max.com/shows/tokyo-vice/e7d93204-7f98-4e62-ab52-6c1da053f942

    Devs on Hulu: https://www.fxnetworks.com/shows/devs

    • Nick Offerman on X: https://twitter.com/nick_offerman

    3 Body Problem on Netflix: https://www.netflix.com/title/81024821

    • Perplexity AI: https://www.perplexity.ai/

    • Particle: https://www.particle.news/

    • Crokinole board game: https://boardgamegeek.com/boardgame/521/crokinole

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Related Episodes

    Building high-performing teams | Melissa Tan (Webflow, Dropbox, Canva)

    Building high-performing teams | Melissa Tan (Webflow, Dropbox, Canva)

    Brought to you by AssemblyAI—Production-ready AI models to transcribe and understand speech | Mixpanel—Product analytics that everyone can trust, use, and afford | Eppo—Run reliable, impactful experiments

    Melissa Tan is an advisor, investor, and growth expert. She’s worked with fast-growing startups like Dropbox, Canva, Grammarly, and Miro, and for the past 2.5 years has been the Head of Growth at Webflow. There, she led the company's self-service business across Product, Marketing, and Growth, in addition to leading the charge on pricing and packaging. Prior to Webflow, she was Head of Growth for Dropbox’s B2B product, where she played a pivotal role in propelling their growth. In today’s episode, we discuss:

    • Attributes of high-performing teams

    • Tips for developing talent and seeking a mentor

    • How to create a strong culture of ownership

    • Frameworks for hiring PM and growth talent

    • Common pitfalls companies face when implementing growth strategies

    • Lessons from scaling Dropbox

    • The DACI framework for increasing team velocity

    • How to actually embrace first-principles thinking

    Find the full transcript at: https://www.lennyspodcast.com/building-high-performing-teams-melissa-tan-webflow-dropbox-canva/#transcript

    Where to find Melissa Tan:

    • Twitter: https://twitter.com/melissamtan

    • LinkedIn: https://www.linkedin.com/in/melissamtan/

    Where to find Lenny:

    • Newsletter: https://www.lennysnewsletter.com

    • Twitter: https://twitter.com/lennysan

    • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

    In this episode, we cover:

    (00:00) Melissa’s background

    (04:12) What’s next for Melissa

    (06:45) Lessons learned from Dropbox

    (11:49) When to add sales to product-led products and vice versa

    (14:28) Managing people with a people-focused and results-oriented approach

    (17:14) An example of people-focused leadership

    (20:26) The importance of talent development and why Melissa invests in it

    (22:26) Tips for finding a mentor

    (24:58) Specific questions to ask when you are interviewing for a role

    (27:49) Companies Melissa has worked with

    (28:33) Attributes of high-performing teams

    (31:38) Creating a sense of ownership among team members

    (34:36) Building a team-first culture

    (36:54) Avoiding burnout by knowing your limits

    (39:24) Developing talent and unlocking potential within your organization

    (42:45) Melissa’s hiring practices and what she looks for in a product manager

    (44:40) The exact interview sequence Melissa utilizes

    (49:58) Common pitfalls when creating growth teams

    (53:43) “Flying formation” and the DACI framework

    (56:48) Who should own revenue

    (58:19) When to invest in growth

    (1:01:06) What to look for in your first growth hire

    (1:04:35) When it’s appropriate to hire an advisor

    (1:06:19) First-principles thinking

    (1:09:50) Lightning round

    Referenced:

    • Jiaona Zhang on LinkedIn: https://www.linkedin.com/in/jiaona/

    Lean In: Women, Work, and the Will to Lead: https://www.amazon.com/Lean-Women-Work-Will-Lead/dp/0385349947

    • Tim Ferriss: How to Find a Great Mentor: https://www.youtube.com/watch?v=RVo1aZCyfO4

    Radical Candor: Be a Kick-Ass Boss Without Losing Your Humanity: https://www.amazon.com/Radical-Candor-Revised-Kick-Ass-Humanity/dp/1250235375/

    • How to Monetize a Freemium Business: https://www.ycombinator.com/blog/how-to-monetize-a-freemium-business

    • DACI framework: https://www.productplan.com/glossary/daci/

    Leaders Eat Last: Why Some Teams Pull Together and Others Don't: https://www.amazon.com/Leaders-Eat-Last-Together-Others/dp/1591848016/r

    The Untethered Soul: The Journey Beyond Yourself: https://www.amazon.com/Untethered-Soul-Journey-Beyond-Yourself/dp/1572245379/

    The Four Agreements: https://www.amazon.com/Four-Agreements-Practical-Personal-Freedom/dp/1878424319

    Winning Time: The Rise of the Lakers Dynasty on HBO: https://www.hbo.com/winning-time-the-rise-of-the-lakers-dynasty

    • ChatGPT: https://chat.openai.com/

    • Webflow: https://webflow.com/

    Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

    Lenny may be an investor in the companies discussed.



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Une startup marocaine en passe de révolutionner la logistique ?

    Une startup marocaine en passe de révolutionner la logistique ?

    Et si une startup marocaine rejoignait la short-list des champions du monde du digital ? Freterium, startup dans le domaine de la logistique vient de rejoindre l'incubateur américaine Y Contributor, l'un des plus grands incubateurs américain. Dropbox et Airbnb y sont passés.
    Dans Le Scan, le podcast d’actualité de TelQuel reçoit Mehdi Cherif Alami, cofondateur de Freterium.

    [Rediffusion de l'épisode du 15 juillet 2021]

    New York Real Estate News

    New York Real Estate News

    The world’s population is getting richer, and the evidence shows that many of the world’s rich want to spend their new wealth on luxury real estate. The international luxury residential market will see more demand than supply over the next three years, according to a report published by the Real Deal, with 25 percent of high-net-worth individuals expected to buy high-end real estate compared to the 17 percent who want to sell. The report also noted the numbers of wealthy people across the world is increasing significantly.

    There were 1.6 million households around the world with more than $10 million in net worth during 2016. That figure is an 11 percent increase from 2015 and a whopping 91 percent increase since 2010. Most of the world’s wealthy consumers live in North America, with the number of $10 million-plus households increasing 146 percent in the last eleven years. Europe is the second largest “wealth region” in the world and is home to nearly 20 percent of the world’s wealthy households.

    The Asia Pacific region has seen an explosion of wealth, with the high-net-worth individuals in that part of the world increasing more than 20 percent between 2015 and 2016. China is producing 100,000 new millionaires each year, according to a report earlier this year. Despite the report’s rosy outlook for the international luxury market, New York City continues to experience an excess of high-end product. Manhattan real estate sales of over $10 million in the first half of the year increased 12 percent from the same period the year. However, that jump is driven largely by both closings from contracts signed in 2014 and luxury sellers’ growing willingness to negotiate on price. In Los Angeles this year, there were 65 sales in the $10 million to $20 million range, up from 50 during the same period of last year.And in Miami, there have been 46 properties sold in the over-$10 million market so far this year.

    https://therealdeal.com/2017/09/27/demand-will-outstrip-supply-in-global-luxury-market-report/

     

    In London news, the London housing market hasn’t looked this bad since 2009, with its housing prices posting the first annual decline in almost a decade, according to the Nationwide Building Society. The cause of the slow is generally blamed on Brexit. Despite this, analysts claim there is cause for optimism - consumer confidence appears to be on the upswing, while Lloyd’s Bank saw business confidence rise from its lowest point. TRD reported this summer that the sky-high prices London is known for may be a thing of the past — and if London real estate prestige falls internationally, New York City would stand to gain.

     

    WeWork and Airbnb have formed an alliance in a bid to take over the corporate travel market.

    Customers who book a room on Airbnb will also be able to reserve a desk at the nearest WeWork co-working space under a pilot program in six cities, Bloomberg reported.

    As of Thursday, the service will be available in Chicago, New York, Los Angeles, D.C., London and Sydney. Earlier this year Airbnb introduced a feature allowing users to search for homes with a desk and high-speed internet. WeWork, meanwhile, has offered overnight stays at its WeLive co-living location in Lower Manhattan. The company recently raised $4.4 billion from Japanese conglomerate SoftBank to bring Wework’s valuation to $20 billion.

    https://therealdeal.com/2017/10/04/airbnb-and-wework-are-joining-forces/

     

    In far west side news, the online retail giant Amazon just signed a 15-year lease for 360,000-square-foot at Brookfield Property Partners’ 5 Manhattan West. It will serve as New York’s main location for Amazon Advertising, and jobs at the site will include software engineers, data analysts, and economists.

     

    Amazon will take all of the sixth and seventh floors of the 16-story building on 10th Avenue between 31st and 33rd streets, as well as parts of the eighth and 10th floors. It will bring the building’s occupancy rate to 99 percent, with other notable tenants including JPMorgan Chase and Whole Foods, which is anchoring the building’s ground floor with 60,000 square feet of space.

     

    Amazon’s expansion into 5 Manhattan West will create 2,000 new jobs with average annual earnings of $100,000, according to Gov. Andrew Cuomo’s office. The company was offered up to $20 million in tax credits to expand in the state, and it will invest $55 million to outfit its new space with energy-efficient standards.

     

    5 Manhattan West is part of an eight-acre, six-building mixed-use development that Brookfield is constructing on Manhattan’s west side from Ninth Avenue to 10th Avenue and 31st Street to 33rd Street. It will feature roughly 6 million square feet of office space, residential space and a boutique hotel. Amazon has set up multiple projects in New York State over the past five years, including investing $9 million into a fashion photography and videography studio in Brooklyn and setting up a 350,000-square-foot administrative office at 7 West 34th Street. The company is also planning to open its first distribution center in New York on Staten Island’s West Shore, which is expected to create over 2,200 jobs.

     

    The Seattle-based company most recently shook up the business world by announcing that it would seek to open a second headquarters, which should represent a $5 billion investment. Although New York is expected to be in the running for this as well, Related Companies chairman Stephen Ross recently said in an interview with Bloomberg Television that he “can’t see them really coming to New York, realistically” because of the city’s high cost of doing business.

    https://therealdeal.com/2017/09/21/its-official-amazon-is-coming-to-5-manhattan-west/

     

    In Brooklyn news, workers with the U.S. Environmental Protection Agency are set to start scooping toxic sludge from the bottom of the Gowanus Canal the first week of December and will begin prepping for the excavation next week. Starting this week, barges will cruise into the heavily polluted canal's Fourth Street Basin, where dredging will clear the way for EPA equipment to access the sludgy sediment, known as "black mayonnaise," marking a key step forward in the canal's $506 million cleanups.

     

    Before work on the Superfund site begins, the EPA will "stabilize the shore" with bulkheads along the basin's neglected banks, with that work likely to occur during the last week of October. Come December, workers will begin scraping muck from the basin's floor for a pilot study that will work out the logistics of the project and inform the EPA's final plan for the entire 1.8-mile waterway.

     

    The pilot dredging is expected to last until the spring of 2018 and will culminate with a report to help shape the EPA's overall plan, including where excavators will eventually dredge the canal.

    It is possible that the agency will unearth some hidden gems, or at least buried junk, during the work. Last year, debris removal from the the Fourth Street Basin yielded two boat wrecks, eight support pilings, a tree and 25 other items that measured greater than 5 feet across. Toxic sediment removed from the canal will be ferried down the waterway and mixed with cement to ensure it does not leach contaminants, Tsiamis added. EPA officials anticipate finalizing plans for cleaning up the northern portion of the canal by February 2019. The cleanup for that portion of the canal will be completed around 2022 at the earliest, this according to DNA Info.

     

    In Downtown Brooklyn news, JEMB Realty is planning to bring a 37-story building to the heart of Downtown Brooklyn at 420 Albee Square. The tower would span about 385,000 square feet and contain office and commercial space, including a 300-seat school on the first six floors. FXFOWLE Architects is designing the project, and JEMB received a $56.5 million loan for the project in July. JEMB originally planned for the tower to be significantly higher but scaled down the proposed height from 65 stories to 35 stories in March 2015

    https://therealdeal.com/2017/10/05/the-top-10-biggest-real-estate-projects-coming-to-nyc-6/

     

    In Upper West Side news, an apartment building at 200 Amsterdam that would be the tallest tower on the Upper West Side recently received the green light from the Department of Buildings.

    The 51-story, 112-unit building is being developed by SJP Properties and Mitsui Fudosan America, and has faced vehement opposition from the local community, Crain’s reported. Critics of the project claimed in was in breach of the building code. The DOB had shut down the site, but last week, the DOB said the companies had addressed all concerns. The developers will need to refile for permits. SJP and Mitsui Fudosan paid $275 million for the parcel at 200 Amsterdam Avenue in 2015 and filed permits with the DOB last year.  [Crain’s] — Miriam Hall

    https://therealdeal.com/2017/09/27/city-allows-construction-on-uws-skyscraper-to-resume/

     

    Resources:

    Organifi

    Wix

     

    -

    Our Proud Sponsors: 

    The RATNER Team 

    Spartan Renovations

    Sanchan Saxena (VP of Product at Coinbase) on the inside story of how Airbnb made it through Covid; what he’s learned from Brian Chesky, Brian Armstrong, and Kevin Systrom; much more

    Sanchan Saxena (VP of Product at Coinbase) on the inside story of how Airbnb made it through Covid; what he’s learned from Brian Chesky, Brian Armstrong, and Kevin Systrom; much more

    Sanchan Saxena is VP of Product at Coinbase. Before Coinbase, Sanchan was Head of Product and GM at Airbnb, founder and Head of Product of Instagram Shopping, Director of Product Management at Yahoo, and Lead PM at Microsoft.

    Thank you to our sponsors for making this episode possible:

    • Dovetail: https://dovetailapp.com/lenny

    • Persona: https://withpersona.com/lenny

    • Productboard: https://www.productboard.com/

    In this episode, you’ll learn:

    [3:50] How Sanchan worked his way up to VP of Product at Coinbase

    [6:15] Sanchan’s best advice to early-stage PMs

    [9:41] What to look for in a company to join

    [12:09] What Sanchan learned from Airbnb

    [16:40] Behind the scenes of how Airbnb survived the Covid downturn when travel completely stopped

    [21:49] How Airbnb tactically planned in two-week cycles

    [25:00] How to keep morale up during a disaster

    [29:00] What Sanchan learned from Brian Chesky, Brian Armstrong, and Kevin Systrom

    [36:08] How to know when to trust your gut vs. A/B testing

    [41:57] How Coinbase makes decisions

    [46:30] How teams use the RAPID decision-making process

    [47:00] How to operate in an ambiguous industry like web3

    [49:00] How to know if you should get into web3

    [51:46] How to hire and close amazing candidates

    [54:40] What to look for in product leaders

    [57:13] Lightning round

    Where to find Sanchan:

    • LinkedIn: https://www.linkedin.com/in/sanchans/

    • Twitter: https://twitter.com/sanchans



    Get full access to Lenny's Newsletter at www.lennysnewsletter.com/subscribe

    Sujata Burman and Ali Morris on design in 2019

    Sujata Burman and Ali Morris on design in 2019

    We kick off season 2 of the podcast with a chat with two journalists; Sujata Burman, who’s the online design editor at Wallpaper* and Ali Morris - a freelance writer whose articles you can spot on the pages of Wallpaper*, Dezeen and many other publications.

    Our conversations centres around design in 2019, key trends, long-term movements and the areas of our lives affected and improved by design every day.

     

    Presented by Justyna Green

    Music by James Green