Billion dollar failures, and billion dollar success | Tom Conrad (Quibi, Pandora, Pets.com, Snap, Zero) | Lenny's Podcast: Product | Growth | Career | Podwise
This podcast episode provides valuable insights and perspectives on various topics in the tech and product management industry. The speakers discuss personal journeys in the tech industry, the evolution of products like Apple's Finder and Pandora, and the challenges faced by startups such as Pets.com and Quibi. They emphasize the importance of team dynamics in product leadership roles and share lessons learned from both successes and failures. The role of a CEO, unit economics, and business optimization are also highlighted. Additionally, maintaining mental health and work-life balance, as well as the value of relationships and collaboration, are discussed. The speakers stress the significance of passion, attention to detail, strategic thinking, adaptability, specialization, and finding fulfillment in one's career. They also recommend books, TV shows, interview questions, and products. Overall, this episode offers comprehensive insights and lessons for individuals in the tech and product management industry.
Takeaways
• Tom's journey from being an intern at Apple showcases determination, passion, and the power of pursuing one's dreams.
• The evolution of Apple's Finder highlights the importance of careful consideration and attention to detail in product design.
• When choosing the ideal workplace, consider passion for the product/project and the people you collaborate with.
• Compatibility and team dynamics are essential for Chief Product Officers (CPO) and VPs of Product to build strong teams that contribute to an organization's success.
• Learn from failures and consider timing and market readiness when launching a product or service.
• Quibi's rise and fall serve as a cautionary tale, emphasizing the importance of strategic thinking and business modeling.
• The impact of COVID-19 disrupted Quibi's content production and challenged its unique selling points.
• The challenges of marketing and distribution strategies in the digital product space require complex math and constant improvement.
• Successful products like Pandora and Snap require understanding unit economics and business optimization.
• Prioritize mental health, find fulfillment in work, and balance personal and professional life.
• Focusing on relationships and collaboration can lead to rewarding career journeys.
• The CEO's role involves finding the right balance between involvement in details and setting direction.
• Founders play a vital role, but the industry would benefit from a smaller number of founders and more collaboration.
• Recommended books: "High Growth Handbook" and "Hyperion." Recommended TV show: "Mrs. Davis."
• Interview questions should assess problem-solving abilities and natural inclinations.
• Pay attention to product design details, as they make the design.
• Pronounce GIF as "GIF," despite the creator's pronunciation as "Jif."
