Kevin Systrom is the co-founder and former CEO of Instagram. Please support this podcast by checking out our sponsors: – Theragun: https://therabody.com/lex to get 30 day trial – NI: https://www.ni.com/perspectives – GiveWell: https://www.givewell.org/ and use code LEX to get donation matched up to $1k – Blinkist: https://blinkist.com/lex and use code LEX to get 25% off premium – Fundrise: https://fundrise.com/lex EPISODE LINKS: Kevin’s Instagram: https://www.instagram.com/kevin/ Kevin’s Twitter: https://twitter.com/kevin Kevin’s LinkedIn: https://www.linkedin.com/in/kevinsystrom PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: – Check out the sponsors above, it’s the best way to support this podcast – Support on Patreon: https://www.patreon.com/lexfridman – Twitter: https://twitter.com/lexfridman – Instagram: https://www.instagram.com/lexfridman – LinkedIn: https://www.linkedin.com/in/lexfridman – Facebook: https://www.facebook.com/lexfridman – Medium: https://medium.com/@lexfridman OUTLINE: Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) – Introduction (08:26) – Origin of Instagram (50:33) – New social networks (1:09:38) – Selling Instagram to Facebook (1:32:40) – Features (1:36:47) – Facebook (2:13:28) – Whistleblower (2:24:47) – Machine learning (2:34:45) – Advice for startups (2:40:37) – Money (2:46:37) – Love (2:48:54) – Meaning of life

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?

Kevin Systrom and Mike Krieger launched their photo-sharing app with a server that crashed every other hour. Despite a chaotic start, Instagram became one of the most popular apps in the world. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

After a quick rundown of Kara’s Twitter feud with SVB-enthusiast David Sacks, we turn to an interview with a former Silicon Valley Bank customer: Kevin Systrom. When you found one of the most successful social media apps at 27, it’s tough to figure out where to go with Act Two. But after leaving Facebook (now Meta) in 2018, Systrom is back with an AI-powered news-reader called Artifact which has been dubbed a “Tiktok for Text.” Onstage at SXSW this weekend, as the SVB crisis was playing out, Kara and Kevin discuss his regrets about Instagram, his plans to crack the news business and what’s wrong with tech bros.  Questions? Comments? Email us at on@voxmedia.com or find us on Twitter @karaswisher and @nayeema   Learn more about your ad choices. Visit podcastchoices.com/adchoices

Kevin Systrom is the co-founder of Instagram and co-founder of Artifact, a news app that uses AI to determine your preferences and show stories you might be interested in. Systrom joins Big Technology Podcast to discuss the implications of all social media — Facebook, Instagram, TikTok, YouTube, Twitter — starting to look like each other. We speak about how the rise of AI recommendation feeds impacts the future of competition among these apps, creativity upon them, and distribution for people looking to get a message across. Tune in for a fun, in-depth discussion about social media's future in a new era.---Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice.For weekly updates on the show, sign up for the pod newsletter on LinkedIn: https://www.linkedin.com/newsletters/6901970121829801984/Questions? Feedback? Write to: bigtechnologypodcast@gmail.com

My guest today is Doug Colkitt. Doug has spent his career searching for and trading inefficient markets, first at Citadel’s high-frequency trading group, then for himself, and then as an operator building CrocSwap - a decentralized exchange or DEX designed to bring modern functionality to crypto markets, which is closer to what large traders have come to expect from a modern electronic market like the NASDAQ.  My interest in market infrastructure has continued to grow since my great conversation with FTX founder Sam Bankman-Fried. So my conversation with Doug covers the evolution of market and trading infrastructure. We unpack the trading stack as it exists today, dive into DeFi’s innovations, and explore the new category of single contract DEXs that Doug is creating. After learning so much from Doug about how markets function and how crypto markets should function, I became an investor in his new business via my venture capital firm Positive Sum. Please enjoy this great conversation with Doug Colkitt. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. -----Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Show Notes[00:03:31] - [First question] - Doug’s career and history working with markets[00:08:55] - Defining what a trading stack is [00:13:41] - How HFT firms are such reliable money-making models[00:16:27] - What’s at the cutting edge of traditional markets that provides an edge[00:18:45] - The mechanical parts of infrastructure involved in building an exchange[00:21:00] - Classes of data that matter for operating an exchange[00:22:11] - Capacity and what good returns are as an HFT firm[00:28:45] - Overview of the mechanics of an AMM[00:31:53] - Earning a yield as a liquidity provider[00:33:59] - Other ways to think about AMMs and liquidity providers[00:36:42] - Key players in the AMM space and the evolution of them[00:41:20] - How asset holders can approach DEX tools and be liquidity providers[00:42:55] - The function of an exchange’s native token[00:45:25] - Token distribution and how to earn them without buying them[00:48:31] - How you receive payment for providing liquidity[00:51:31] - What CrocSwap will do and what a single contract DEX unlocks[00:57:36] - How CrocSwap is able to do this when other exchanges can’t[00:59:27] - What single contracts will improve for users [01:00:43] - The impact CrocSwap will have for all participants writ large[01:02:28] - Whether or not CrocSwap will cultivate an ecosystem[01:03:30] - What’s next for CrocSwap in the near future[01:04:58] - The promise of DeFi and the future of blockchain technology[01:07:04] - Whether or not DeFi is a threat to centralized exchanges[01:09:52] - Defining what MEV is and why it’s important for DeFi[01:13:04] - Missing pieces in the DeFi world and how we can address them[01:15:24] - The kindest thing anyone has ever done for him

“I think a big part of knowing that you’re right is working as hard as you can to prove that you’re wrong. And if you can’t, well, there’s only one option left, which is: you’re probably right.” — Kevin SystromKevin Systrom (@kevin) is an entrepreneur and the co-founder (with Mike Krieger) of Instagram. While at Instagram, Kevin served as the CEO, where he oversaw the company’s vision and strategy and daily operations. Under his leadership, Instagram grew to over one billion users and launched dozens of products including video, live, direct messaging, creative tools, Stories, and IGTV.The company also grew to over 800 employees with a campus in Menlo Park, new offices in New York City, and a new headquarters in San Francisco.Prior to founding Instagram, Kevin graduated from Stanford University with a BS in management science and engineering. Kevin currently lives in San Francisco with his wife and daughter.Please enjoy!*This podcast is brought to you by Helix Sleep. I recently moved into a new home and needed new beds, and I purchased mattresses from Helix Sleep.It offers mattresses personalized to your preferences and sleeping style — without costing thousands of dollars. Visit Helixsleep.com/TIM and take the simple 2-3 minute sleep quiz to get started, and the team there will build a mattress you’ll love.Its customer service makes all the difference. The mattress arrives within a week, and the shipping is completely free. You can try the mattress for 100 nights, and if you’re not happy, it’ll pick it up and offer a full refund. To personalize your sleep experience, visit Helixsleep.com/TIM and you’ll receive up to $125 off your custom mattress.*This podcast is brought to you by FreshBooks. FreshBooks is the #1 cloud bookkeeping software, which is used by a ton of the start-ups I advise and many of the contractors I work with. It is the easiest way to send invoices, get paid, track your time, and track your clients.FreshBooks tells you when your clients have viewed your invoices, helps you customize your invoices, track your hours, automatically organize your receipts, have late payment reminders sent automatically and much more.Right now you can get a free month of complete and unrestricted use. You do not need a credit card for the trial. To claim your free month and see how the brand new Freshbooks can change your business, go to FreshBooks.com/Tim and enter “Tim Ferriss” in the “how did you hear about us” section.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We're hard at work planning our upcoming live shows, so we bring you this favorite from the last year: Instagram. Kevin Systrom and Mike Krieger launched their photo-sharing app with a server that crashed every other hour. Despite a chaotic start, it became one of the most popular apps in the world. PLUS in our postscript "How You Built That," we check back with Dave Weiner of Priority Bicycles, a low-maintenance bicycle brand. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kevin Systrom's background, early interest in computer science, and experience attending a private school. His journey from intern at ODO to the creation of Instagram. Instagram's grand vision of collecting visual data from around the world. Challenges of building a company and competition for people's time. Advice for new entrepreneurs on putting your product out there and prioritizing the right features.

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’t think of a better pair to show you why I want to do so. Please enjoy my conversation with Kevin and Mike.  For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes 1:38 – (first question) – Projects they’ve been working on since leaving Instagram 5:22 – How they can apply what they are learning in machine learning 7:18 – Most interesting experience diving back into data and machine learning 8:42 – How startups compare today to when they founded Instagram 13:23 – Judging founders and whether they know how to use their data effectively 14:26 – The jobs-to-be-done framework 19:14 – Laying out a vision vs solving problems that pop up 25:20 – Developing and sharing the principles of the company with the team 30:48 – Creating a community when it includes almost the entire world 39:03 – The most popular ways people used the platform 41:24 – What was the jobs-to-be-done rational behind the stories feature 44:15 – Interesting things that they saw as Instagram entered the developing world 46:40 – Their thoughts on how Instagram shaped culture and if they focused on those 52:58 – The new waves that they are observing right now 55:11 – How their thinking on leadership and teams changed during their time at Instagram and Facebook 1:03:23 – The pillars of a good business, including humility and confidence 1:06:06 – Focus on growth and distribution in a startup 1:10:01 – How early were they thinking about monetization on this free platform 1:13:43 – How do they think about how they invest their money and allocate resources 1:17:36 – Mentors for Kevin and Mike 1:20:30 – Their passion for learning to fly and the someday/maybe list 1:23:01 – Their interest in coffee 1:26:24 – Advice for everyone else 1:30:00 – Kindest thing anyone has done for them   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag