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20Product: What Facebook, Monzo and Deliveroo Do and Do Not Do To Build Great Products | How to Structure Product Teams For Success | Is Simple Always Better in Product and The Art vs Science of Product Design with Mike Hudack

Sep 13, 2024

Mike Hudack, Co-Founder and CEO of Sling, shares insights from his tenure at Facebook, Monzo, and Deliveroo. He discusses the balance of art and science in product design, emphasizing that simplicity should endure over time. Hudack reveals key lessons learned from leading ads at Facebook, reflecting on critical product missteps. He shares experiences from Deliveroo, highlighting the importance of intuition versus data. The conversation also touches on the dynamics of product prioritization and the role of collaboration in crafting successful consumer products.

01:06:50

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Episode guests

Mike Hudack

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Quick takeaways

Successful products stem from understanding user needs and simplifying processes to enhance efficiency and satisfaction.

An ideal product team structure includes diverse roles, prioritizing collaboration, accountability, and a clear focus on user-oriented goals.

Experiences from agile environments like Facebook and Deliveroo underscore the significance of quick adaptations based on real-time user feedback.

Deep dives

Understanding User Needs

The essence of creating successful products lies in truly understanding what users want to achieve and facilitating that with minimal effort. This means that product teams should be focused on simplifying complex processes, ensuring that users can accomplish their goals efficiently. The ideal product team structure consists of six to eight individuals, predominantly engineers, with designated roles for a designer and data scientist to enhance the user experience and functionality. A well-rounded team empowers members to develop solutions that cater directly to user needs, resulting in products that resonate with consumers.

Optimal Team Structure Enhances Productivity

00:36

Harnessing viral growth through initially small communities and network effects

01:44

Prioritize Goals over Opinions

01:24

Demand Trumps Distance for Delivery

00:49

Intro

4min

Navigating Founder Mode in Product Development

12min

Balancing Product Prioritization and Marketing

20min

Navigating Data and Product Development Challenges

17min

The Positive Impact of Advertising, Connection, and Work-Life Balance

3min

Balancing Work and Family Life: A Holistic Approach

3min

Navigating Product Development Challenges

5min

Exploring Monzo's Innovative Products and AI's Future Impact

4min

Mike Hudack is the Co-Founder and CEO of Sling, a peer-to-peer payments app whose vision is to simplify the way the world connects financially. Previously, he held roles at Monzo Bank as Chief Product Officer, Deliveroo as Chief Product and Technology Officer, and Facebook where he led ads product and sharing product.

In Today's Episode with Mike Hudack We Discuss:

1. Product: Art vs Science:

What is the true art of product? What makes the great product leaders and PMs?
Is simple always better in product? How do you retain product simplicity with time?
When should data be used over intuition in product building?

2. Lessons from Leading Ads at Facebook:

What are Mike's single biggest product lessons from building the ads product at Facebook?
How did a meeting with Mark Zuckerberg discussing a product change, alter how Mike thinks about product today? What makes Zuck so special on product?
What are the biggest mistakes that Facebook made when it came to the ads product?
What did they not do that he wishes they had done?

3. Leading Product at Deliveroo: What I Learned:

What are Mike's biggest takeaways from his time at Deliveroo on how to make consumer products?
What did Deliveroo do from a product perspective that worked so well? What did he learn?
What were the single biggest product mistakes that Deliveroo made? What did he learn?
How fast do you know when a consumer app is working or not working? When do you go against data and follow your intuition?

4. Building the Biggest Bank in Britain with Monzo:

What are Mike's biggest lessons on product building from his time at Monzo?
What did Monzo not do that he wishes they had done?
Why does Mike think the US is crucial for Monzo?
How did Monzo change how Mike thinks about competition? What do you do when your competitor, Revolut, is outshipping you at such a speed?

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