The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20Product: Nubank's CPO on Why Product is 90% Science and 10% Art, Why Execution is Overrated and Strategic Clarity is Under-Appreciated, Why You Should Never Fall in Love With Your Own Ideas & Nubank's Biggest Product Challenges Scaling to 80M Users
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Mar 29, 2023 Jag Duggal, Chief Product Officer at Nubank, shares insights from his journey in tech, transitioning from Silicon Valley to Brazil's fintech scene. He argues that product management is 90% science, emphasizing the importance of strategic clarity and effective customer feedback methods. Jag warns against falling in love with your own ideas and discusses the true challenges of scaling a product for 80 million users. His advice on hiring the right team highlights the crucial role of dynamics and strategic alignment in product success.
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Career Shift
- Jag Duggal left a secure job at Facebook to join Nubank.
- This was influenced by David Vélez and Doug Leone, and the opportunity to apply his skills to a different market.
Product: Art vs. Science
- Product management is 90% science, quantifiable and metrics-driven.
- The final 10% is art—intuitive empathy with the customer, understanding unmet needs.
Understanding Customer Needs
- Observe customers to understand unmet needs; do not simply take dictation.
- Ask about their lives and routines, not just the product or problem directly.