Kevin Systrom and Mike Krieger How to Build a Great Product
b'My guests this week are Kevin Systrom and Mike Krieger, the co-founders of Instagram. I met Kevin and Mike a few months ago over a shared interest in business and investing. I have found them both to be extremely good people who have a rare talent for finding and solving interesting problems. Indeed, problem-solving and jobs-to-be-done is a big part of our conversation. I realized walking into the podcast that Kevin and Mike have a rare set of experiences: having both built and sold an extremely successful product from scratch, but then also operated and scaled inside one of the largest businesses in the world. This means they have unique knowledge to offer just about anyone interested in business and products. We dig into all those lessons here. I am working on hosting more founders and CEOs on the podcast, and can\\u2019t think of a better pair to show you why I want to do so. Please enjoy my conversation with Kevin and Mike.\\xa0\\n For more episodes go to InvestorFieldGuide.com/podcast.\\n Sign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.\\n Follow Patrick on Twitter at @patrick_oshag\\n \\xa0\\n Show Notes\\n 1:38 \\u2013 (first question) \\u2013 Projects they\\u2019ve been working on since leaving Instagram\\n 5:22 \\u2013 How they can apply what they are learning in machine learning\\n 7:18 \\u2013 Most interesting experience diving back into data and machine learning\\n 8:42 \\u2013 How startups compare today to when they founded Instagram\\n 13:23 \\u2013 Judging founders and whether they know how to use their data effectively\\n 14:26 \\u2013 The jobs-to-be-done framework\\n 19:14 \\u2013 Laying out a vision vs solving problems that pop up\\n 25:20 \\u2013 Developing and sharing the principles of the company with the team\\n 30:48 \\u2013 Creating a community when it includes almost the entire world\\n 39:03 \\u2013 The most popular ways people used the platform\\n 41:24 \\u2013 What was the jobs-to-be-done rational behind the stories feature\\n 44:15 \\u2013 Interesting things that they saw as Instagram entered the developing world\\n 46:40 \\u2013 Their thoughts on how Instagram shaped culture and if they focused on those\\n 52:58 \\u2013 The new waves that they are observing right now\\n 55:11 \\u2013 How their thinking on leadership and teams changed during their time at Instagram and Facebook\\n 1:03:23 \\u2013 The pillars of a good business, including humility and confidence\\n 1:06:06 \\u2013 Focus on growth and distribution in a startup\\n 1:10:01 \\u2013 How early were they thinking about monetization on this free platform\\n 1:13:43 \\u2013 How do they think about how they invest their money and allocate resources\\n 1:17:36 \\u2013 Mentors for Kevin and Mike\\n 1:20:30 \\u2013 Their passion for learning to fly and the someday/maybe list\\n 1:23:01 \\u2013 Their interest in coffee\\n 1:26:24 \\u2013 Advice for everyone else\\n 1:30:00 \\u2013 Kindest thing anyone has done for them\\n \\xa0\\n Learn More\\n For more episodes go to InvestorFieldGuide.com/podcast.\\xa0\\n Sign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub\\n Follow Patrick on twitter at @patrick_oshag'