The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Instagram Founders Kevin Systrom and Mike Krieger on Why Social Networks Should Be Less Social & The Next Wave of Social | Why San Francisco Will Return with a Vengeance and The Future For Remote Work | Let's Get Personal: Relationships to Money, Be

40 snips

Feb 22, 2023

Kevin Systrom and Mike Krieger, co-founders of Instagram, dive into the future of social networks with their new project, Artifact. They discuss the flaws in current social media, advocating for less social engagement and more tailored experiences through AI. Reflecting on their partnership, they reveal how remote work has shifted their dynamic and how past experiences shape their new venture. The duo also explores the balance between simplicity and scale in tech, and their vision for a collaborative future in the digital news landscape.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ADVICE

Worst Idea for a Second Company

Start with the core idea, launch quickly, and gather feedback.
Iterate based on user data to improve recommendations and product-market fit.

INSIGHT

The Future of Social Networks

Social networks should prioritize personalized content discovery over solely relying on social graphs.
People's interests are diverse, and algorithms can better cater to individual tastes.

INSIGHT

The Importance of Team in Social

Success in social isn't about copying features, but having the right team and growth skills.
Focus on attracting talented individuals who can execute and learn quickly.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Kevin Systrom and Mike Krieger are the co-founders of Instagram. Since its release in 2010, Instagram has become of the most significant products in modern society shaping the way millions of people engage with the world around them. In January this year, Kevin and Mike announced their return to the founding arena with the launch of Artifact, a personalized news feed driven by artificial intelligence.

In Today's Show with Kevin Systrom and Mike Krieger We Discuss:

1.) The Perfect Partnership:

Question from Josh Kushner @ Thrive: What makes Kevin and Mike such a great partnership?
What was the last disagreement they had? How was it resolved?
They built Instagram in person, in an office. They are building Artifact remotely, what has changed in the way they operate when comparing remote to in-person?

2.) Why Social Networks are Broken & The Next Frontier:

Why does Kevin believe social networks today are broken and should be less social?
What fundamental premise are social networks built on that Kevin believes is wrong?
How will AI and machine learning be central in the next wave of social?
How do Kevin and Mike evaluate TikTok and the next wave of content discovery?

3.) Welcome Artifact: The Comeback:

Why does Kevin believe they chose the worst idea for their new company? Why is it?
Were they nervous about founding Artifact and expectations being so high given Instagram?
Why does Kevin argue that Artifact is not actually a "news app"?
What does Kevin believe is the biggest lesson Apple taught us about messaging?

4.) Family, Money, San Francisco:

Why does Kevin believe that SF will return as the centre of tech once again?
Why does Kevin believe that many millennials in the workforce today are entitled and soft?
How has becoming a father changed the way Kevin and Mike operate and execute?
How do Kevin and Mike assess their relationship with money today? How has it changed?

5.) Hiring, Investing, Managing:

What are some of Kevin and Mike's biggest lessons when it comes to hiring?
What are the single biggest hiring mistakes they have made?
Is it wrong to not hire someone because they are really really boring?
What are the biggest lessons for Kevin and Mike from their angel investing?