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
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.
51:42
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Quick takeaways
- Strategic clarity is crucial for success, as execution without a clear strategy is just frenzy.
- Product management can be made predominantly scientific by focusing on metrics-driven approaches and understanding product-market fit.
Deep dives
Importance of Strategic Clarity and Execution
Strategic clarity is crucial for success, as execution without a clear strategy is just frenzy. While execution is important, it should be aligned with a well-defined strategy to drive progress and forward motion. Without a clear strategy, execution becomes aimless. Therefore, product leaders should focus on developing a sharp hypothesis and be open to changing their minds based on evidence and customer feedback. Balancing customer research and observation allows for a better understanding of unmet needs and helps create products that resonate with customers.
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