Giant Robots Smashing Into Other Giant Robots

Aarish Shah is the Founder of EmergeOne and Projected.ai and host of Off Balance and Nothing Ventured Podcast. Will talks to Aarish about having the venture capitalist money idea and having that "aha!" moment that it could work, what drives him and having a purpose of helping others, and using his podcast to teach lessons that he's learned along the way. EmergeOne Projected.ai Off Balance and Nothing Ventured Podcast Follow EmergeOne on LinkedIn, Facebook, YouTube, or Twitter. Follow Aarish Shah on LinkedIn or Twitter. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: WILL: This is The Giant Robots Smashing Into Other Giant Robots podcast, where we explore the design, development, and business of great products. I'm your host, Will Larry. And with me today is Aarish Shah, Founder of EmergeOne and Projected.ai and host of Off Balance and Nothing Ventured Podcast. Aarish, thank you for joining me. AARISH: It's great to be here, Will. Really happy to be talking to you today. WILL: Yeah, I'm excited. I can't wait to dive in and learn more about you. Tell me about your journey, how it all started. AARISH: Wow, it's a bit of a long run. I'll try and condense it. But I am 44 years old at the moment. About 20 years ago, I came out of uni with a degree in languages which I found was sort of useful but not essential. So I ended up for a few years doing kind of the normal corporate thing. I worked with PriceWaterhouseCoopers, Nortel Networks, and then Deutsche Bank. And I qualified as an accountant along the way, so I'm effectively what you guys would consider a CPA over in the U.S. I then kind of up sticks, and I spent the next ten years of my life running a group of manufacturing and trading businesses alongside a property portfolio out in Papua New Guinea, which is a very, very interesting place to be, definitely one of the hardest environments to be building and running businesses for many reasons. I've had everything from people coming into one of my offices with guns. I had one of my factories burned to the ground and everything in between. So really, really great learning experience and certainly amazing to learn about physical products, you know, the manufacturing and distribution and sales and so on of actual physical products. And then, in 2015, I came back to the UK. I didn't really know what I wanted to do. And so I had a bunch of coffees with people and ended up as founding CFO in an EdTech venture, which was a joint venture between Eton College, which is one of the premier schools here in the UK where famously all of our Prime Ministers seem to come from, and Founders Factory which is an accelerator that was founded by Brent Hoberman of lastminute.com fame. So that was really exciting. I was straight off the boat from Papua New Guinea, sitting 10 feet away from Brent Hoberman, learning everything that there was to learn about the tech sector here in the UK and beyond. And had a really great couple of years working in that business and learning really everything there was to know about the VCA ecosystem, the early stage ecosystem, how to build products, how to finance them, how to sell into new territories (We were operating in China at the time.) and all sorts of other things. And then, in 2017, I decided it was time to move on. And I became what you guys would probably call a fractional CFO. So I worked across C through Series C businesses, everything from EdTech to FinTech, D2C, B2B marketplaces, beauty tech, you name it, kind of been there, seen it, and done it. And in 2019 and 2020, started getting approached by FDs and CFOs that wanted to work with me. And I really doubled down at that stage and decided to build EmergeOne into what it is today, which is a consultancy providing CFO services to venture-backed tech startups and scaleups. So we work with a huge bunch of businesses here in the UK that are backed by VCs, some of the big names here like Hoxton Ventures, Stride, Octopus, Outlier, Founders Factory, and others. And I'm really, really passionate about helping founders build their businesses in a scalable and sensible way, I guess, especially in the current environment. And so we're really lucky that we're trusted by these VCs and the founders that we work with to deliver really great services to them. And then, a couple of years ago, because I've been working kind of in the tech sector for so long, I started noodling around with a couple of ideas of projects that I wanted to move forward with. I raised a really small kind of pre-seed back in 2021 and started building a product, which is today Projected.ai, which we have just launched. We're in the process of launching at the moment. And what that is is effectively an email newsletter, if you can believe it, providing internal and external data to our client businesses. So effectively, it's like a flash report of your financials alongside some really sort of personalized news about what's going on in your industry, alongside some other sort of bits and bobs that we're currently building in. On top of that, a couple of years ago, again, I realized that I had a really good network of people that I had relationships with, and I decided to launch the Nothing Ventured Podcast to start speaking with people that operated in the VC ecosystem here in the UK and beyond. So I've been really fortunate to have guests like Hussein Kanji from Hoxton Ventures, Mac Conwell from RareBreed ventures in the U.S., and various others. And I really got to talk to them about why they got into venture, what they see is happening in the market, what are they excited about. And all those sorts of things. Because, to be honest, I'm really passionate about learning and understanding about where people are coming from, why they do what they do, what drives them, what they're passionate about, but equally, the sort of challenges they've also faced. And that's been going now for 60-odd episodes. We're launching Season 4 shortly. And I'm really lucky and fortunate to have been able to do that. And then finally, at the back end of 2022, so in December, actually, just as I was jumping on a plane, I sort of released something on LinkedIn, which was like 100 lessons that I've learned as a CEO and CFO over the last 20 years of operating. And unexpectedly, the thing went viral. I've had close to a million views on it, thousands of likes, hundreds of comments, and reshares. And I decided to turn what was effectively just a list into a short-form podcast, which has turned into Off Balance. So we're releasing that daily and kind of expanding on each and every one of those topics that I went through in that list. So, yeah, look, I mean, I'm someone with a finger in a lot of pies. I'm a massive generalist, so I love getting involved in different projects at different times. But I'm really fortunate to be able to do what I love doing. It's just been a wild journey for the last seven years, certainly, but the whole 20 years of my life. WILL: I love it. I love it. I love every idea that you had weaves into that venture capitalist money idea. So let's start at EmergeOne. When did you have that aha moment that this could work? AARISH: So I work a lot in strategy, so there are two forms of strategies, emergent and there's defined. So most people know about a strategy that is written down; it's a playbook. They go out, and they pursue it. For me, it was really emergent. Firstly, I realized that there were not that many great CFOs operating in tech, certainly here in the UK, because it's, to an extent, a nascent industry. And whilst there are great accountants, and there are great finance leaders in larger businesses, actually doing that in a startup or a scaleup is very, very different. Now, don't get me wrong, there are some great CFOs out there. It's just that I think there are far fewer than many people [laughs] assume there to be. So that was kind of the first thing that twigged with me. And I was seeing a lot of businesses picking up people and calling them a CFO when I knew for a fact there was no way that they really had the experience to be able to call themselves a CFO or to operate as one. So I guess that was the first aha moment. And the second aha moment was as I started talking to more and more VCs via the podcast, and just generally because I was out in the ecosystem talking to them, I realized that actually, the work that I was doing was not being driven necessarily by the client companies but actually by the VCs themselves because they wanted to make sure that having invested 1,2,5, 10 million pounds or dollars that those companies were in good hands and safe hands and that capital was being managed effectively and efficiently. And obviously, we're sitting in January of 2023 now. Never has that been more appropriate. More and more businesses are struggling. They're struggling to raise. They're having to extend their runways and figure out how to manage their cash in a much, much more significant way than maybe they had to two or three years ago. And so, for us, that's like a massively important thing. And having a great CFO in your business is going to help you do that. And therefore, we are getting approached more and more both by VCs as well as by companies that are just on the lookout for someone to help them. It was sort of a series of aha moments. But as I said earlier, it was an emergent strategy. It was something that kind of developed over time. But also, I'm someone that learned quite early on in my life to back myself. I think I took the punt on building this agency, if you like because it felt right. And it felt like something that I would enjoy doing, and it felt like something that I could actually make a difference in. And I think all of those things kind of culminated in really making EmergeOne what it is today, and I'm really proud of what we've been able to achieve. WILL: Yeah, I love that idea because I feel like, especially in startups, like you said, that excellent CFO is really hard to find. It's really hard to find. But if you don't have the numbers, you don't have a business. Let's be honest, the numbers you just don't have it. AARISH: Yeah, it's crazy to me that over the last decade or so, we've had, obviously, this period of super cheap money, super cheap capital. People have been raising at very inflated valuations. But we're seeing all of that come home to roost. We're seeing that in the public markets. A lot of these companies that IPOed over the last several years, obviously, have had their valuations drop significantly, you know, companies like Peloton, I guess, and others. People are starting to realize that actually cash is king. They need to understand how the cash is flowing through their business and to know that they need to have an intimate knowledge of their numbers. And, in fact, a lot of our role as a CFO in a business is to kind of coach the founder to make sure that they do understand those numbers and how they need to present them to internal stakeholders, external stakeholders, whether that's your board, whether that's investors, or whether that's your employees to make sure that people have a good idea of not only how they're tracking but where they're heading and where the end goal is. And I think it's massively important. I've always been a massive advocate for people getting to grips with their numbers, even if you're not a numbers person. Because especially if you're a founder or you're the leader in the business, the CEO, ultimately, the buck stops with you. You've got to know those numbers. It's not good enough to say, "Well, my CFO, my accountant has a handle on them." Like, if you're sitting in an investor meeting trying to pitch them to raise 5 to 10 million bucks, you're going to need to know those numbers inside out. And it's astonishing how many people actually ignore those. And what I would say is, you know, ignore them at your peril. WILL: Yeah, that just blows my mind because if I put myself in an investor seat if I'm giving you money, I want the head person, the CEO, to know exactly how to handle that money. So yeah, I love that idea, and I love what you're doing. Let's go on Projected.ai. And if I understand this correctly, this is more of a kind of [inaudible 10:51] the words. AARISH: So it's like a newsletter on steroids. WILL: Yeah, but it's to be honest about your numbers to board members and investors, correct? AARISH: Yeah. So Projected.ai was born out of this understanding that I guess I have, which is that CFOs and finance professionals working in startups and scaleups and SMEs they have dashboard fatigue. We interviewed CFOs, and they're operating off like 20 different dashboards, each of them giving them different numbers, each of them telling them something different. And they don't even have time to look at those dashboards, let alone make decisions based on the numbers that are coming out of them. So what we wanted to do with Projected was provide a touch point for that CFO where they could check in with their numbers in a really easy way on a consistent, regular basis. When I thought about this really clearly, I don't live in dashboards; where I live is in the tools I communicate in, so that's my emails, that may be my Slack channel, that may be WhatsApp or iMessage, or whatever it is that you use. But certainly, for business, it's going to be email and Slack for the most part. So I thought, what is the easiest way to communicate with someone in their business? It is via one of those channels. And what are the things that they want to know? Well, they want to know what's happening in their business, what's changed in their numbers over the last week, or two weeks, or month, but also what's happening outside their business. Because often, in startups, we get so kind of tunnel-visioned into what's happening inside the business. We don't take the time to look outside and figure out what others are doing or what may be happening in the macro environment that may have an impact on our business. And an obvious case of that at the moment is interest rates having moved up quite significantly over the last several months and still going to, as well as sort of inflation numbers also on their way up, and central banks everywhere trying to rein those in. All of that is going to have an impact on your business, especially if you're a consumer business, for example. And if you don't factor in all of those things or if you don't look at all of the things that could impact your business, you're going to make decisions with imperfect information, and, therefore, you'll make imperfect decisions. Now, you're never going to have perfect information. But the more information, the more pertinent information you have, the more transparent you can be, exactly as you said, to your board, to your shareholders. Tell them exactly what's happening, and get their advice to help you through those rough patches. Ultimately, we've got some tricks up our sleeves in terms of what we're going to be doing with those numbers, and how we're going to be presenting them, and how we're going to be manipulating them when we do show them to our users. But I kind of felt like we've moved past that time where CFOs were only about the numbers looking backwards. A really great CFO today is all about communication, information. It's about turning data into information, turning numbers into a narrative. Yeah, that's what we wanted to build, a tool that could support them and help them really be the best CFO they can be. WILL: Yeah, that's amazing. Transparency is the word I was looking for. So you nailed it, yeah. So I love that idea, the transparency of the numbers of the business just using AI. So that's amazing. It makes it a lot easier to send it out and to make it happen. So I love that idea. AARISH: Yeah. I mean, the interesting thing is; obviously, we've all been hearing a lot about generative AI and large language models at the moment. And we've definitely got plans to incorporate that into what we're doing. But the other side of that is you got to be really, really careful, obviously, because, as we all know, there are biases that can creep into any of those sort of AI-driven models. But equally, there are inaccuracies. And, in fact, a lot of those models tend to be great with words, not great with numbers. So one has to be really, really careful about bringing those tools into play. And because we know what we're doing, we can assess for that and make sure that the information that we're putting out there is the right sort of information, but actually, what we can do in terms of modeling our cash flows and revenue and effectively forecasting out a business. Because bearing in mind a lot of startups, most startups, most scaleups, most SMEs don't have the balance sheet. They don't have the money to go out there and build an AI tool themselves. They just simply don't. And they may not have the wherewithal in-house, but they almost certainly don't have the cash. So what we're doing is hopefully providing a bridge for them to get better information in terms of what's happening today but also maybe an inkling of what might happen tomorrow, which helps them, again, to plan better. And, again, it comes back to this whole thing around decision making, transparency, and making sure that they're able to look at their numbers with confidence and communicate those to others with confidence, and really understand what's driving those numbers as they keep building their businesses. But everything we do at Projected, everything I do definitely as a founder and as someone that operates in this ecosystem, is all driven by how do we make the ecosystem better? How do we help founders? How do we help their companies? How do we make sure we can drive that number down from 90% of startups failing within the first three or five years? How do we turn that number into 70%, 60%, or less? So that's all about information. It's all about giving those hard-won lessons, hard-learned lessons back to founders and guiding them, I guess, in the best way we can. WILL: Yeah, I love that. I love that. MID-ROLL AD: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator. WILL: Let's transition to talking a little bit about you. I love to just ask questions to the founders because, honestly, what founders go through just amazes me that you continue to go. You wake up, and you do it over and over again. So it's amazing, so kudos to you. So let's talk about that; why? Why do you wake up every morning and do EmergeOne, do Projected.ai, do the podcasts? What's your why? AARISH: I'm in therapy trying to figure that answer out myself. WILL: [laughs] AARISH: No, look, I mean, I think what drives me, again, it's that sense of purpose of helping others. It's also scratching the itch. I think a lot of founders, it's about scratching that itch. There is something that you can see that is wrong in the universe, and you want to fix it. And if I think about those various sorts of businesses or podcasts, each of them attracts me in different ways. So EmergeOne, we get to help lots of businesses, providing them really, really significant support. And we're working with great VCs, with great clients, great startups, and scaleups. At Projected, we get to expand that range because you're no longer reliant on one person providing a CFO service or a bench of 20 people or whatever. We can now do that across hundreds, thousands of startups if need be. With the podcasts, it's a combination of learning and hopefully also providing some learning to others, helping them understand a bit more. So the Off Balance podcast these are like two-minute short episodes, which go into the detail of those 100 lessons that I've learned. And some of them are very, very personal to me, but they're probably applicable across most businesses. And all I'm doing is exploring those in a bit more detail and hopefully passing that on so that some other founder somewhere doesn't have to go through the same pain of learning that lesson. They can look out for the signals and figure out how to deal with it in advance. And Nothing Ventured scratches my itch to learn more about the VC ecosystem. If you imagine I'd spent ten years out in New Guinea, I had no idea what venture capital was out there. I really didn't understand what the tech ecosystem was. When I arrived there, we were still on dial-up. There were no mobile telephones. It wasn't until 2008, 2009, that mobile telephony really kind of picked up over there. So when I came back to the UK, I was just surrounded by all of this stuff which I was massively curious about. And so everything I've done since then is about scratching that curiosity and learning. And I think that that drives pretty much everything that I do in life in general, which is this huge passion to learn and understand the world a bit better and to hopefully pass on whatever I can to others because I think life's too short to hold it all for yourself. The more you can give, the better the world is. WILL: Yeah, definitely, definitely. Let's give a sneak peek into Off Balance. You said that you use that to teach lessons that you've learned along the way. What have been some of the big obstacles that you've come across? AARISH: Oh wow. I mean, there are 100 lessons in there, [laughs] so I'm going to have to pick a couple of my favorites. Okay, so one which actually I posted about today on LinkedIn it was like the episode we dropped today, which is "Hire Slow, Fire Fast." And I got a lot of flak about this actually talking about it on LinkedIn when I first posted it. And the reason I think that I got a lot of flak was all people read were those four words: hire slow, fire fast. And they just assumed what I was saying was you should fire in the vein of a lot of the larger tech businesses over the last couple of years where maybe they've sent a mass text message or email and just sacked a bunch of people. And that's absolutely not what I'm advocating for. I think you should always be human when you are dealing with people all the time. But the things that I've really learned is if you don't have a process to hire people well, you end up hiring the wrong people. And you end up hiring people that either don't have a fit in the business or are just not the right people in terms of their ability to do what you need them to do. And we're all probably aware of this fact by now, but it bears repeating, right? All of us when we are talking to other people, we look for reflections of ourselves. So when we are hiring people, we look for people that emulate how we see ourselves, whether that's in the way they talk, in the way they dress, whether they look like us, or whether they come from a similar background. And I think those are all obviously negative biases that we all need to remove. And the way you can remove those is in a couple of ways, so, one, use data wherever possible and use data points. Secondly, have a process that makes sure that you have a really strong top-of-the-funnel, bringing in candidates from across all sectors, all experiences. I make sure that there are several people involved in that process so that you're all giving your feedback on an individual so that you can make sure that, actually, I thought this person was going to be great in this role, but maybe my CTO thinks they're not; they're going to be mediocre. We can have that conversation and understand where those challenges have come up, and hopefully get to a place where we either decide actually, yeah, you know what? We shouldn't hire this person. Or, actually, yeah, you know what? I think you're right. I'm convinced that this is the right person. We should go for them. But I think the point is companies can lose hundreds of thousands of dollars hiring the wrong person, that's in recruitment fees, in training fees, and lost time, et cetera, et cetera. So it makes sense to do it right, right from the beginning. And the flip side of that is if you have hired someone and they turn out to be a toxic person or not fit for purpose in terms of the role that they're doing; the point is not to then just send them an SMS and say, you know, "You're fired." The point is, you know, Donald Trump style, no. WILL: [laughs] AARISH: The point is actually to take the decision really quickly. So if you realize that that person is not working out, then make the decision and execute on that decision as quickly as possible because I've seen it too often and have done it myself to the business' detriment. I've seen too often people sitting on a decision to move someone on. And that's ended up leading to problems in the business because other employees, other members of the team will recognize that toxicity or that person isn't pulling their weight, or they aren't able to do the job even. And that will just lead to negative impact on the rest of the business as well. So that's definitely one I would always come back to is, like, hire slow, fire fast. I think I'm happy to take more flak on it because I strongly believe it is something that more founders and more businesses should take heed of. And the other one, I think it was number one on my list for a reason, and that's cash trumps everything and today, even more so than anything else. I think businesses over the last, certainly in the venture ecosystem, over the last sort of five years, growth at all costs has been the mantra, and that's throwing dollars at marketing and just building new customers, or buying new customers, I should say, to supercharge growth when actually that isn't sustainable. And it doesn't necessarily lead to good outcomes in the future. My preference is twofold, one, spend as much time and money as you can in cultivating your existing customers, make sure you're really giving them delight in whatever product or service you're providing them because that means that they're going to stay with you longer. They're going to pay themselves back in terms of how much it costs to acquire, and hopefully, they're going to be advocates for your business. And all of that basically leads to a better cash bottom line. And today, always, but today over and above any other period, I think over the last 5, 10 years cash trumps everything because you are only as good as your runway. And when you run out of money in this market, it is very hard to go out and try and raise additional capital, and raising capital at the sort of valuations that people have also been used to over the last several years is getting harder and harder, if not impossible. So those are probably the two that I would always come back to; it's the hire slow, fire fast, cash trumps everything. And it's better to spend money retaining and loving your customers than trying to constantly acquire new ones. WILL: Yeah, I love that. I love that. Let's flip it to the other side, what have been some of your biggest wins in life? AARISH: I mean, I'm going to say the obvious one. My biggest wins are my family, you know, my wife, my kids. I've got two beautiful daughters, one's 21, one's 15. I hope we've raised them to be well-adjusted children. We've given them, I think, the ability to go out and do what they want in life. And that's really important to me. My wife, her, and I have been together for 20 years. We've had our ups and downs, but today I think we make an amazing team. And I'm really fortunate to have her in my life. If I think about wins and success in business, it's really hard for me and, again, because I think success is a state of mind. It's not something that you can chase. And I think too many people get caught up in this sort of idea of I'll be successful when. And what I mean is I'll be successful when I've raised that big series A, or I'll be successful when I've exited my business, or I'll be successful when I've made that huge sale, or when I've hired that rockstar employee or made it to founder, or whatever it is. If you approach success with the attitude of you are already a success, whatever you're doing, you are alive today, living in one of the most exciting times on the planet. You are a successful human being; whatever anyone else says, that's a major win in itself. And understanding that state of mind that you have to be in is something that it takes a really long time to understand and really internalize. And I think the way that I've managed to get to that place is I've realized that in the past, either I was chasing success or I was waiting for someone else to tell me that I've been successful. When in reality, if I judge success based on my own benchmarks, then it's impossible for me to look at what I've done and say I haven't been successful. I've got two businesses, two podcasts. Who knows? One of those businesses may fall over, one of those podcasts may not get a single listener or whatever. But the mere fact that I've shown up and broken ground on all of that stuff for me is, I think, an indication of success. It's something I'm really proud of. And as I move forward in life, I'm always going to try to do better. But I already know that whatever successes or failures I may have in the future, I've already been successful. And I think that's the thing that all of us should hold on to in life. WILL: Yeah, I totally agree with that, and I really, really like that. So I'm going to close it out with this: what advice would you go back and give yourself when you first started at the very beginning knowing what you know now? AARISH: I would say from the age of like 15 to the age of getting on 37, 38, I was a product of what other people wanted, what I did at school, what I studied...well, what I studied at university was what I wanted to do, but it was almost in retaliation for what others wanted me to do. Where I worked, the sort of path that I trode was very much based on culturally, familiarly what was expected of me kind of growing up in a very middle-class and privileged background. It wasn't until I came back to the UK from Papua New Guinea, where I basically came back with nothing to my name and no idea what I was going to do, and I started doing things that I wanted to do and started backing myself in spite of what other people were saying. So even when I left that first job working at the EdTech business, one of my cousins turned around and said, "Why are you leaving that job? It is paying you a really good salary. Like, why would you leave that to do this thing?" And I had someone else, an angel investor who's one of my closest friends; she turned around and said, "Well, if one of my portfolio companies came and said, oh, they're looking to bring in a CFO, I'd tell them they're stupid and spend their money elsewhere." And I was like, "No, I can see that there is something to be done in this space. I'm going to go and do it." And, lo and behold, again, it's paid off. And so I think the one piece of advice I would have given to myself, and I would give to everyone, is back yourself early on. You may not have the experience to do everything. You may not have the network. You may not have the cash. You may not have the friends and family that can invest in you or whatever it might be. But take that first step, back yourself because ultimately, if you can't back yourself, no one else is going to. WILL: Wow, that's really good, really good. Wow, I really like that. Yeah. Yeah, I really liked that because it's kind of the initial stage of that self-care, especially as a founder. Like, if you don't believe in yourself, how can you even ask someone else for it? Because they can see, like, well, is this a good investment? Are you going to see it through, or are you going to quit? AARISH: Yeah, and in fact, I'd add to that one of the other things I've said is, but I came to this late in life, is if my mind and my body aren't healthy, then my business can't be either. I realized quite late in life, as I say, probably mid-30s, again, that I'd probably done more damage to my body than I needed to through my diet, through whatever proclivities I may have had. The most amazing I've ever felt is today, where I'm exercising daily, where I'm taking care of myself mentally, taking the time to think about what is important to me, and to show gratitude for a lot of stuff as well. And exactly as you say, if you're not looking after yourself, it's really, really hard to look after a business, to look after team members. And certainly, when other people are looking at you, they're going to kind of sit there and say, "Well, how safe is my money in this guy's hands? Or do I think that this person is going to be able to see it through?" So 100% the two things are back yourself and look after yourself. I think those are two really important things. WILL: All right, to close out the podcast, is there anything that you would like to share with the audience? AARISH: I mean, I think it's been awesome speaking to you. I would love for everyone to come and check out Nothing Ventured and the Off Balance Podcast. And please connect with me on LinkedIn, follow me, follow me on Twitter. My handle is @adsinuk, so that's @A-D-S-I-N-U-K, both on LinkedIn and on Twitter. You can find me at Aarish Shah on LinkedIn, obviously, as well. I'm always keen to hear from people, learn from people, talk to them. All I would ask is be gentle with each other. Come find me. Come have a chat. And, yeah, it's been awesome speaking to you today. WILL: Yeah, it's been great talking to you too. And I'm going to lead by leadership. And I'm going to look you up on LinkedIn, Twitter; check out the podcast. I'm excited about that. So I'm looking forward to it. AARISH: Amazing. Thanks, man. WILL: Yeah, thank you. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have any questions or comments, email us at hosts@giantrobots.fm. You can find me on Twitter @will23larry. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening. See you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Special Guest: Aarish Shah.Sponsored By:thoughtbot Incubator: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator.Support Giant Robots Smashing Into Other Giant Robots

Nadia Odunayo is the Founder and CEO of The StoryGraph, a new website and app for avid book readers because life's too short for a book you're not in the mood for. The StoryGraph helps you track your reading and choose your next book based on your mood, favorite topics, and themes. Victoria talks to Nadia about coming up with a product based on the concept of mood, what you're in the mood for to read, i.e., this book made me feel this way. How do I find a book that makes me feel similar? They also talk about keeping yourself open to feedback, the ability to flow and change direction, and developing a reviewing system that keeps biases in check. StoryGraph Follow StoryGraph on LinkedIn, Instagram, or Twitter. Follow Nadia Odunayo on LinkedIn or Twitter. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is The Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido. And with me today is Nadia Odunayo, Founder and CEO of StoryGraph, a new website and app for avid book readers because life's too short for a book you're not in the mood for. StoryGraph helps you track your reading and choose your next book based on your mood and your favorite topics and themes. Nadia, thank you for joining me. NADIA: Thank you for having me. VICTORIA: And you are a repeat guest at Giant Robots. But for those who missed that episode, tell me a little bit about your journey. And how did this all get started? NADIA: Okay. Yeah, so that first time was in 2015, and that was not too long after I had just got into tech. I did a bootcamp in London in 2014, Makers Academy, and that's where I learned to code. My degree was in philosophy, politics, and economics, so rather different. I worked at Pivotal for about a year and a half after I graduated from Makers Academy. And during my time at Pivotal, I got into conference speaking, and my first talk was around game theory. So I took my favorite topic in economics, game theory, and I combined that with distributed systems because that's what I was working on at the time in Pivotal on their Cloud Foundry PaaS. I think I gave it at RailsConf, and I think someone there recommended me to Giant Robots. And so Ben Orenstein interviewed me, and it was all about different types of conference talks and that kind of thing. So after Pivotal, I left and started a hybrid kind of consultancy/product company with a colleague, did that for about a year, left that, worked for about a year with my friend, Saron Yitbarek, on her company CodeNewbie. And then, when that partnership ended, I essentially had five years of runway from money that I got from the company that I started after Pivotal because we did some consulting with a bank. I'd always been entrepreneurial. I'd been doing various entrepreneurial things since secondary school, actually, high school. It was time for me to just have time on my side projects. And so I started hacking away on one of my side projects at the beginning of 2019 in January, and I haven't stopped since. That's what the StoryGraph has developed into. VICTORIA: Wonderful. And yes, I saw that the very early stages of StoryGraph started as a creative writing e-publication. Is that right? NADIA: So what happened was when I was at university, I started a creative writing e-publication, came up with the name The StoryGraph. Because we had won or we were going for some grant funding or something like that, I set up a corporate entity. And when I stopped working on that e-publication, I remember my mom saying to me, "Don't shut down the entity. I really like the name. I feel like you'll use it for something," that was in 2012. And so fast forward to 2019, and the side project that I was working on was called Read Lists. And it was very specifically focused on tracking and sharing progress through reading lists on a dashboard. But when I was doing customer research, and the scope of the project grew, Read Lists didn't fit anymore. And that's when I realized, oh, I can use The StoryGraph thing again. And so it's basically had two different lives or two different forms, the StoryGraph company. VICTORIA: That's wonderful. And I'm reading about StoryGraph and how it's an Amazon-free alternative to Goodreads. Can you talk a little bit more about the product and why people would want to use it? NADIA: So, as I said, it started life as a very specific focused side project. And I just had so much fun working on it and working in the book space. I'd always been a reader since I was a kid such that I said to myself, I need to find a way to make me building a books product a full-time thing. And so that's when customer research came in because the only way that you're going to make sure that you don't build something that people don't want is by talking to people. As I was doing customer research and figuring out, are there pain points amongst readers, people who track their reading? What would happen was the pain points that came up drove me towards building a more fully fledged reading, tracking, and recommendations product. It actually started as a very focused recommendations product. And then, we got to the point where we needed to build more around it for it to be a compelling product. And as it was growing, we never advertised ourselves as a Goodreads alternative or as an Amazon-free alternative to what was out there. But that was clearly a pain point in the market. There were tweets about us saying, "Finally a Goodreads alternative. It's small; it's independent; it's Amazon-free. And so thousands and thousands, hundreds of thousands of people have come to us because of that. VICTORIA: Wow. NADIA: And so it got to the point...mainly when we launched our payment plan, and we were trying to figure out the reasons why people were pre-ordering the plan, it was at that point where we decided to lean into the Amazon-free Goodreads alternative because that was what the market wanted. VICTORIA: Was that surprising for you? Or were there other things that came out of your research on your marketplace that kind of were different than what you thought it would be going in? NADIA: I think the most interesting thing about the product development journey was that I at least originally felt like I was building a product that wasn't for me. So what I mean by that is in my earliest rounds of research, what I was finding was that people still didn't think that they had one place to get consistently good book recommendations. And so then I started to explore, well, how do you even give somebody consistently good book recommendations? And one of the factors that kept on coming up was this concept of mood, what you're in the mood for. This book made me feel this way. How do I find a book that makes me feel similar? And so it got to the point where I said to myself, oh wow, I'm building a product for mood readers right now; that seems to be the gap, that seems to be the thing that nothing out there yet had properly attacked. And I had never considered myself a mood reader. I just thought I'm a planner. I'm an organized person. I typically decide what book I want to read, and then I read it. And so there was a point where I was concerned, and I thought, wait, am I now building something that is not for me? But then, as I started to work and do more research and talk to more and more people and thinking about my reading experiences, I developed the hypothesis or the viewpoint rather that I think everybody's a mood reader; it's just the scale. Because there are probably some books that I may have rated lowly in the past that if I had read it in a different frame of mind, or at a different time in my life, different circumstance, it probably would have resonated with me a lot more. Now, that's not to say that's true for every single book. There are some books that are just not going to work for you, no matter what. But I do think we're all on the scale of mood reading. And sometimes we say a book is a bad book, but we just read it at not the right time. And so I think the most surprising thing for me is going on that journey of realizing that, oh, I am a mood reader too. VICTORIA: [laughs] NADIA: And I ended up building an app that's a lot less focused on just the pure ratings. I was someone who, on Goodreads, if it had less than four stars, I'm not interested. And the ethos of the product is more about, well, hang on; these ratings are very subjective. And someone else's two, three-star could be your next five-star. What are the factors that really matter? Do you want something dark, adventurous? Are you looking for something funny, light? And then what kind of topics do you want to discover? And then it doesn't matter if the five people before you thought it was average; you might think it's excellent. VICTORIA: Yeah, it reminds me thinking about how bias can come in with authors and writing as well. So a simple five-star system might be more susceptible to bias against different genders or different types of names. Whereas if you have more complex numbers or complex rating systems, it might be easier to have different types of authors stand out in a different way. NADIA: That actually relates to what was going through my mind when I was developing the reviewing system on StoryGraph. You can just, if you want, leave your star rating and say no more, but the star rating is lower down on the page. And up front, we say this book would be great for someone who's in the mood for something...and then you've got checkboxes. And how would you rate the pace of the book? And if it's a fiction book, we ask you, "Are the characters lovable?" Is there a flawed narrator? Is it plot-driven or character-driven?" Questions like that because the thinking is it doesn't matter whether you are going to give the book two stars in your own personal star rating. You can still help someone else find a book that's good for them because they will be looking at the summary on the StoryGraph book page, and they'll go, "Oh wow, 80% of people said it's lovable. There's a diverse range of characters, and it's funny. So the topics fit things I'm interested in, so I care less about the average rating being like 3.5 because everything else seems perfect. Let me see for myself." And actually, we've also had a lot of feedback from people saying that "Oh, normally, I never know how to review a book or what to say. And this system has really helped me, almost give me prompts to get started about explaining the book, reviewing it for other people to help them decide if it's for them. So that's great." VICTORIA: That makes sense to me because I read a lot of books, maybe not as much as I would like to recently. But not all books that I love I can easily recommend to friends, but it's hard for me to say why. [laughs] You know, like, "This is a very complicated book." So I love it. I'll have to check it out later. It's been four years since you've been full-time or since 2019, almost five then. NADIA: Yes. VICTORIA: If you could travel back in time to when you first started to make this a full-time role, what advice would you give yourself now, having all of this foresight? NADIA: Have patience, trust the process because I can sometimes be impatient with, ah, I want this to happen now. I want this to pick up now. I want these features done now. I'm a solo dev on the project. I started it solo. I have a co-founder now, but I'm still the solo dev. And there were so many things, especially now that we've got a much larger user base, that people complained about or say is not quite right. And that can be really tough to just have to keep hearing when you're like, I know, but I don't have the resource to fix it right now or to improve it. But I think one of the things is, yeah, having faith in the process. Keep going through the cycles of listening to the customers, prioritizing the work, getting the work done, getting the feedback, and just keep going through that loop. And the product will keep getting better. Because sometimes it can feel, particularly in the first year when I was so low, you sometimes have moments of doubt. Or if a customer research round doesn't go super well, you start to wonder, is this only a nice-to-have? And is this going to go anywhere? And so that's one piece of advice. And I think the other one is knowing that there are several right paths because I think sometimes I would agonize over I want to do the right thing. I want to make sure I make the right choice right now. And, I mean, there are some things that are not good to do. You want to make sure that you're setting up your customer interviews in a non-leading way. You want to make sure that there are certain standards in the product in terms of the technical side and all that kind of stuff, so there's that. But I think it's understanding that you kind of just have to make a decision. And if you set yourself up to be able to be adaptive and responsive to change, then you'll be fine. Because you can always change course if the response you're getting back or the data you're getting back is going in the wrong direction. VICTORIA: I love that. And I want to pull on that thread about being open to changing your mind. I think that many founders start the company because they're so excited about this idea and this problem that they found. But how do you keep yourself open to feedback and keeping that ability to flow and to change direction? NADIA: I mean, I didn't set out to build a Goodreads alternative, and here I am. VICTORIA: [laughs] NADIA: I just wanted to build this specific side project or this specific...it was a companion app, in fact. Like, the first version of the thing I built, the first thing you had to do was sign in and connect your Goodreads account so that we could pull in your shelves and start creating the dashboards. So as a solo bootstrapping founder, building a Goodreads alternative was not something that I thought was going to lead to success. But through years of experience, and just hearing other people's stories, and research, I just learned that it's such a hard space just running a startup in general, and 90% of startups fail. And I just said to myself that, okay, the only way I can kind of survive for longer is if I am open to feedback, I'm open to change course, I'm patient, and I trust the process. These are the things I can do to just increase my chances of success. And so that's why I kind of feel it's imperative if you want to go down this route and you want to be successful, it's vital that you're open to completely changing the product, completely changing your direction, completely going back on a decision. You'll either lose customers or you'll run out of money, whatever it is. And so yeah, you've got to just basically be quite ruthless in the things that are just going to minimize your chances of failing. VICTORIA: That makes sense. And now, I have a two-part question for you. What's the wind in your sails? Like, the thing that keeps you going and keeps you motivated to keep working on this? And then, conversely, what's kind of holding you back? What are the obstacles and challenges that you're facing? NADIA: I think this kind of role...so I'm like founder, CEO, and developer. In general, I think I thrive under pressure and pushing myself, and trying to always be better and improve. So I'm always trying to be like, how can I improve my productivity? Or how can I run the company better? All these kinds of things. So I feel like I'm getting to explore maximizing my full potential as someone in the world of work through doing this. So that just intrinsically is motivating to me. I love books, and I love reading. I think it's such an amazing hobby. And the fact that I get to make other readers happy is awesome. So even just as the product has grown, the messages that we get about if someone got a perfect recommendation from StoryGraph, or they hadn't read for years, and now an easy form of, you know, what are you in the mood for? Check a few boxes, and we'll show you some books that fit, whatever it is. That's just so...it's so awesome just to be able to enhance readers' lives that way in terms of the things they're reading and getting them excited about reading again or keeping them excited. So those are the things that keep me going, both the personal nature of enjoying my work and enjoying trying to be the best founder and CEO that I can and building a great product. It's always great when you build something, and people just enjoy using it and like using it. So I'm always incentivized to keep making the product better, the experience better. I'm currently mid a redesign. And I'm just so excited to get it out because it's going to touch on a lot of repeated pain points that we've been having for years. And I just can't wait for everyone to see it and see that we've listened to them. And we're making progress still like three and a bit years on since we launched out of beta. What's tough? Previously, what's been tough is navigating, remaining independent, and bootstrapped with just personally trying to make money to just live my life. So I had five years of runway. And it was this tricky situation about when I had a couple of years left, I'm thinking, wow, I really like doing this, but I'm going to need to start earning money soon. But I also don't want to get investment. I don't want to stop doing this. I can't stop doing this. We've got hundreds of thousands of customers. And so kind of trying to balance my personal needs and life situations with the work I've been doing because I've been working so hard on it for so long that in the last couple of years, it's gotten to a point where it's like, how do I craft the life I want out of a product that is very not set up to be an indie bootstrapped product? [laughs] Typically, you want to do a B2B. You want to start earning money from your product as early as possible. And I feel like I've landed in a product that's typically funded, VC-backed, that kind of thing. So kind of navigating that has been a fun challenge. There's not been anything that's kind of demoralized me or held me back, or made me think I shouldn't do it. And it's just kind of been a fun challenge trying to...yeah, just navigate that. And we've been doing things like we're currently in the process of transitioning our...we have a Plus Plan. And when we launched it, it was essentially a grab bag of features. We're completely changing the feature set. And we right now have six and a half thousand people who are on that plan. But we don't have product market fit on that plan, and I can tell from when I do certain surveys the responses I get back. And so we're completely transitioning that to focus in on our most popular feature, which is the stats that we offer. And so that's kind of scary, but it's part of making that Plus Plan more sticky and easier to sell because it's going to be for your power users who love data. So they want all the data when they are reading. And then the other thing is, okay, what kind of business avenue can we start which fits in with the ethos of the product but brings in more revenue for StoryGraph? And so, we launched a giveaway segment in our app where publishers and authors can pay to list competitions for users to win copies of their books. And it's essentially a win-win-win because publishers and authors get another channel to market their books. Users get to win free books, and readers love winning free books. And StoryGraph has another revenue source that helps us stay independent and profitable, and sustainable in the long run. VICTORIA: That's wonderful. And there are two tracks I want to follow up on there; one is your decision not to seek funding; if you could just tell me a little more about the reasoning and your thought process behind that. And you've already touched on a little bit of the other ways you're looking at monetizing the app. NADIA: Since I was a teenager, I've always been interested in business, economics, entrepreneurship. I've always felt very entrepreneurial. I've read so many founder stories and startup stories over the years. And you hear about venture capitalists who come in, and even if it's fine for the first year or two, ultimately, they want a return. And at some point, that could come at odds with your mission or your goals for your company. And when I think about two things, the kind of life I want and also the nature of the product I'm building as well, VC just doesn't fit. And I know there are so many different funding programs and styles right now, a lot more friendlier [laughs] than VC. But I'm just focusing on VC because when I was younger, I used to think that was a marker of success. VC funding that was the track I thought I was going to go down, and that was what I kind of idolized as, oh my gosh, yes, getting a funding round of millions and millions and then building this huge company. That was how I used to be, so it's so interesting how I've completely gone to the other side. That idea that you could have mismatched goals and how it's ruined companies, once you take the first round of funding and you grow and expand, then you've got to keep taking more to just stay alive until some liquidation event. That just doesn't appeal to me. And I just think there's something ultimately very powerful and valuable about building a product without giving up any ownership to anybody else and being able to make it into something that people love, and that's profitable, and can give the people who run it great lifestyles. I just think that's a mark of an excellent product, and I just want to build one of those. And then I think also the nature of the product itself being a book tracking app. I think the product has done well because it is run and built so closely by myself and Rob. And so it's like, people talk about how, oh, you can tell it's built for readers by readers by people who care. And I run the company's Instagram, and it's not just me talking about the product. I'm talking with a bunch of our users about books and what we're reading. And it really feels like it's just got such a great community feel. And I worry that that can get lost with certain types of investment that I've previously thought that I wanted in my life. And so, yeah, that's the reason why I've kind of strayed away from the investment world. And then it's gotten to the point, like, now we're at the point where we don't need funding because we've been able to get to profitability by ourselves. So we don't need any type of funding. And we're just going to try and keep doing things to keep making the product better, to convert more people to the Plus Plan. And, hopefully, our giveaways platform grows in the way we want such that our goal is to just stay profitable and independent forever for as long as possible. And we think that way, we're going to have the most fun running the company, and the product is going to be the best it can be because there's not going to be competing incentives or goals for the product. VICTORIA: That makes sense. And it sounds like, in reality, in the real case, you had a team, and you had the skills yourself to be able to move the product forward without having to take on funding or take on additional support, which is awesome. And I actually really like your background. I also have a degree in economics. So I'm curious if the economics and philosophy, all of that, really lends itself to your skills as a founder. Is that accurate? NADIA: I don't think so. VICTORIA: [laughs] NADIA: I love my degree. I get sad when I meet econ grads or econ majors, and they're like, "Oh, I hated it. Oh, it was so boring," or whatever. I'm like, "No, it was so great." I'm a big microeconomics fan, so I was all about...I didn't like macro that much. I was all about the game theory and the microeconomic theory, that kind of stuff. I don't think there's anything that really ties into my skills as a founder. I feel like that's more to do with my upbringing and personality than what I studied. But, I mean, one of the reasons I did love my degree is because there are elements that do crop up. It's such a widely applicable...the subjects I did are so widely applicable, philosophy, different ways of seeing the world and thinking and approaching different people. And then, obviously, economics that's essentially behavior, and how markets work, and incentives, and all that kind of stuff. And when you get to pricing and all those sorts of things, and business, and then politics as well, I mean, everything is politics, right? People interacting. So there are definitely things and conversations I had at university, which I see things crop up day to day that I can tie back to it. But yeah, I think it doesn't really...my specific degree, I don't think it's made me a better founder than I would have been if I'd studied, I don't know, English or Math or something. VICTORIA: Right, yeah. I think economics is one of those where it's kind of so broadly applicable. You're kind of using it, but you don't even realize it sometimes. [laughs] NADIA: Yeah. MID-ROLL AD: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator. VICTORIA: So what made you decide to go to a bootcamp right after finishing school? NADIA: So I'd always been entrepreneurial. I remember...I don't know where exactly it started from, whether I got it from my mom. I know she's always been very entrepreneurial and into business. The earliest memory I have of doing something that was very specifically business-oriented was in what we call sixth form in the UK, which is essentially the last two years of high school before you go to university or college; we had this scheme called Young Enterprise. And essentially, you got into teams of people, small teams, or they could be quite big, actually. It could be up to 20 people. And you started a business, and there were trade shows, and pitch meetings, and all that kind of stuff, so I remember getting involved in all that sort of stuff at school. But I'd always been on the investment banking track because when I was young...so my parents...we come from a poor background. And so my parents were very much like, you know, try and find high-paying careers to go into so that you can pay for whatever you want and you have a much better lifestyle. So I had gotten onto the investment banking track from the age of 14 when I went with a friend...at the school, I went to, there was a Take Your Daughter to Work Day. My dad said, "Oh, you want to go to try and find someone whose parent works in an investment bank or something like that. That's like a great career to go into." And so I went with a friend's dad to UBS. And I remember being blown away, like, wow, this is so fascinating. Because I think everything seems so impressive when you're 14, and you're walking into a space like that, and everything seems very lively. And everyone's walking around dressed sharp. They've got their BlackBerries. So from the age of 14 until 20, it would have been, I was very much I am going to work in an investment bank. And I did all the things that you would do, like all the schemes, the spring programs. And it got to my final internship. And I just remember at the internship being rather disillusioned and disappointed by the experience. I remember thinking, is this it? I was studying at Oxford, and I put so much into my studies. And I remember thinking; I'm working so hard. And this is what I come to? Is this it? And so around the time as well, I was also meeting a lot of people in the entrepreneurship space, social enterprises, people doing their own ventures. And I just remember thinking, oh, I feel like I've got to go down that track. And I ended up winning a place on a coding course. It was set up specifically to help more women get into tech. And it was called Code First Girls. I won a place that started...it was just part-time. What I did was I actually...I got the banking job from Deutsche Bank, it was, but I decided to turn it down. It was a very risky decision. I turned it down, and I stayed in Oxford after graduating and worked in the academic office for a while. And then, twice a week, I would go to London and do this coding course. And during it, on Twitter, I remember seeing a competition for a full-paid place at this bootcamp called Makers Academy. And I just thought to myself, having tech skills, I'd heard the feedback that it's a very powerful thing to have. And I remember thinking I should go for this competition. And I went for the competition, and I won a free place at the bootcamp. If I didn't win a free place at the bootcamp, I'm not sure what would have happened because I'm not sure whether at that point I would have thought, oh, paying £8,000 to go to a software bootcamp is what I should do. I'm not sure I would have got there. So that's how I got there, essentially. I won a competition for a bootcamp after having a taste of what coding was like and seeing how freeing it was to just be able to have a computer and an internet connection and build something. VICTORIA: Oh, that's wonderful. I love that story. And I've spent a lot of time with Women Who Code and trying to get women excited about coding. And that's exactly the story is that once you have it, it's a tool in your toolset. And if you want to build something, you can make it happen. And that's why it's important to continue the education and get access for people who might not normally have it. And you continue to do some of that work as well, right? You're involved in organizations like this? NADIA: Like Code First Girls? No. I did some years ago. I would go and attend Rails Girls workshops and be a mentor at them, at those. And while I was at Pivotal, I helped with events like codebar, which were essentially evenings where people who were learning to code or more junior could come and pair with someone more senior on whatever project they wanted to. So I did a bunch of that stuff in the years after leaving Makers Academy. And I was even a TA for a short time for a couple of weeks at Makers Academy as well after I graduated. But in more recent years, I haven't done much in that space, but I would love to do more at some point. I don't have the bandwidth to right now. [laughs] VICTORIA: And you're still a major speaker going and keynoting events all around the world. Have you done any recently, or have any coming up that you're excited about? NADIA: So before the pandemic, my last talk, I keynoted RubyWorld in Japan. That was in November 2019. And then the pandemic hit, and 2020 June, July was when StoryGraph had some viral tweets, and so we kicked off. And amongst all of that, I was being invited to speak at remote events, but it just didn't make sense for me. Not only was I so busy with work, but I put a lot of hours into my talks. And part of the fun is being there, hallway track, meeting people, being on stage. And so it just didn't appeal to me to spend so much time developing the talk to just deliver it at home. And so, I just spent all the time on StoryGraph. And I remember when events started happening again; I wondered whether I would even be invited to speak because I felt more detached from the Ruby community. Most of the conferences that I did were in the Ruby community. StoryGraph is built on Rails. Yeah, I just thought maybe I'll get back to that later. But all of a sudden, I had a series of amazing invitations. Andrew Culver started up The Rails SaaS Conference in LA in October, and I was invited to speak at that. And then, I was invited to keynote RubyConf, that was recently held in Houston, Texas, and also invited to keynote the satellite conference, RubyConf Mini in Providence, that happened a couple of weeks earlier. And so I had a very busy October and November, a lot of travel. I developed two new talks, a Ruby talk and a StoryGraph talk. It was my first ever time giving a talk on StoryGraph. It was a lot of work and amongst a lot of StoryGraph work that I needed to do. All of the talks went well, and it was so much fun to be back on the circuit again. And I'm looking forward to whatever speaking things crop up this year. VICTORIA: That's wonderful. I'm excited. I'll have to see if I can find a recording and get caught up myself. Going back to an earlier question, you mentioned quite a few times about market research and talking to the customers. And I'm just curious if you have a method or a set of tools that you use to run those experiments and collect that feedback and information. NADIA: Yes. So I remember one of the first things I did years ago was I read "The Mom Test" by Rob Fitzpatrick. And that's great for just getting the foundation of when you talk to customers; you don't want to lead them on in any shape or form. You just want to get the raw truth and go from there. So that's the underpinning of everything I do. And then, I learned from friends I made through Pivotal about how you put together a script for a customer research. You can't just have bullet points or whatever. You should have a script. And the foundation of that script is a hypothesis about what you're trying to find out in that round of research. And once you figure out your hypothesis, then you can put together the questions you want to ask and understand how you're going to measure the output. So the first ever thing I was trying to find out when I first started interviewing people was just very general. It was just like, are there any pain points? I was just trying to figure out are there any pain points among the avid reader group of people? And then I remember the results from that were, "No place for consistent, high-quality recommendations." And so then I said, okay, how are people finding recommendations now, or what are the factors that lead to people thinking a book was great for them? And that's how I ended up getting to the moods and pace. But when I do my interviews, I record them all. I watch them back. And I condense everything on sticky notes. And I use a virtual tool. And I try to take word for word. When I summarize, I still just try and use their specific words as much as possible. So I'm not adding my own editing over what they say. Every single interviewee has a different color. And I essentially group them into themes, and that's how I unlock whatever the answers are for that round. And then I use that...I might have been trying to find out what to build next or whether we should go down a certain product direction or not. And so, depending on the outcome, that helps me make up my mind about what to do. So that's the high-level process that I follow. VICTORIA: Well, that sounds very methodical, and interesting for me to hear your perspective on that. And you mentioned that you do have a redesign coming out soon for StoryGraph. Are there any other particular products or features that you're really excited to talk about coming up soon? NADIA: Yeah, I'm so excited about the redesign because we're bringing out...it's not just a UI improvement; it's a user experience improvement as well. So there are a lot of little features that have been asked for over the years. And actually, it was trying to deliver one of them that sparked the whole redesign. So people really want a marked as finished button. There's no way to mark as finished. You just toggle a book back to read. And some people find this quite counterintuitive, or it doesn't quite explain what they're doing. And so when I came to deliver the mark as finished button, this was months and months ago now, I realized that the book pane was just becoming so cluttered, and I was trying to fight with it to squeeze in this link. And I remember thinking; this is not the only thing people want to see on the book pane. They also want to see when they read the book without having to go into the book page. They also want to be able to add it to their next queue. And I just said, you know what? I need to redesign this whole thing. And so I was able to luckily work with Saron Yitbarek, who is married to my co-founder, Rob. There's a funny story about all of that. And she helped me do this redesign based on all my customer research. And so I'm just so excited to get it out because the other thing that we're bringing with it is dark mode, which is our most requested feature in history. And it's funny because I've always felt like, ah, that's a nice-to-have. But obviously, for some people, it's not a nice-to-have; it's an accessibility issue. And even me, I'm quite strict with my bedtime. I try and be offline an hour before bed. In bed by 11, up at 6, and even me if I want to track my pages, I'm like, ooh, this is a bit bright. And my phone itself is set on adaptive, so it's light mode during the day and dark mode during the night. And even me, I can see why people really want this and why it would just improve their experience, especially if everything else on your phone is dark. So I'm really excited to get that out, mainly for the UX improvements. And the other thing I'm really excited to do is transition the Plus Plan to being the advanced stats package rather than the random selection of features right now. Because not only will the people who pay us get more complex stats functionalities such that they feel like, wow, the subscription fee that I pay not only does it still make me feel like I'm supporting an alternative to Goodreads, an independent alternative to Goodreads I also get such value from these extra features. But the other thing is what I found from my customer research is that if you're a Plus customer, there's often one or two of the Plus features that you love and that you don't really use the others. But they're all really great features. And so what I'm really excited about is that we're going to make all the non-stats features free for everybody. And so I'm so excited for, like, we have a feature where if you put in a group of usernames, we look at all of your to-read lists and suggest great books for you to buddy-read together. Now, there's a bunch of Plus users who aren't social and don't care about it. But there's going to be a bunch of our free users who are so excited about that feature, probably will use it with their book clubs, things like that. We have up-next suggestions where we suggest what you should pick up next from your to-read pile based on a range of factors. It could be, oh, you're behind on your reading goal; here's a fast-paced book. Or this book is very similar to the one that you just finished, so if you want something the same, pick up this one. And, again, that's behind a paywall right now, and I'm just so excited for everybody to be able to use that. When I remember starting out with StoryGraph, I remember thinking, wow, the way this is going, wouldn't it be so cool if we could just suggest books that would be the next perfect read for you? Because a lot of people have a pile of books by their bedside table or on their shelves, and they're just like, well, which one should I start with? And this tool literally helps you to do that. And so I can't wait for everyone to be able to try it. And so that's why I'm excited about that transition because the Plus Plan will be better, and the free product will be better. VICTORIA: That sounds amazing. And I'm thinking in my head like, oh, I should start a book club with thoughtbot. Because there are some engineering management and other types of books we want to read, so maybe we could use StoryGraph to manage that and keep ourselves motivated to actually finish them. [laughs] NADIA: Cool. VICTORIA: No, this is wonderful. And what books are on your reading list coming up? NADIA: Yes. I am excited to read...I'm not sure...I'm blanking on the series' name. But the first book is called "The Poppy War." I don't know whether it's called "The Burning God" or if that's the third book in the series. But it's this very popular trilogy, and I'm excited to read that soon. I'm doing a slow chronological read of Toni Morrison's fiction. I recently read "Song of Solomon," which was great, really, really good. And so I'm excited to read more of her novels this year. I'm also on a kind of narrative nonfiction kick right now. I love narrative nonfiction. So I just finished reading "American Kingpin," which is about Silk Road. And I've picked up "Black Edge," which is about SAC Capital and Steve Cohen and that whole hedge fund insider trading situation. So I'm probably going to look for more of the same afterwards. VICTORIA: Well, that's very exciting. And it's inspiring that as a founder, you also still have time to read [laughs] and probably because StoryGraph makes it easy and motivating for you to do so. NADIA: Yeah, everyone thought that my reading would tank once I started the company, but, in fact, it's multiplied severalfold. And a couple of reasons; one is it's very important in general for me to make time for me because I'm in a situation that could easily become very stressful and could lead to burnout. So I make sure that I make time for me to read and to go to dance class regularly, which is my other main hobby. But then, secondly, I feel like I can justify it as work. Because I say, wow, me being a reader and being able to communicate with people on Instagram and on Twitter about books, not just the product, adds legitimacy to me as the founder and developer of this product. And so it's important that I keep reading. And it also helps the product be better because I understand what features are needed. So, for example, I never used to listen to audiobooks. I'm a big podcast person; I love music. So between those two, when does audio fit in? And also, I didn't like the idea that I could just be absent-minded sometimes with some podcasts, but with a book, you don't want spoilers. It could get confusing. But I started listening to audiobooks because we had a large audiobook user base. And they would ask for certain features, and it was really hard for me to relate and to understand their needs. And now that I have started listening to audiobooks as well, we made some great audiobook listeners-focused additions to the app last year, including you can track your minutes. So you can literally get you read this many pages in a day, but you also listened to this many minutes. You can set an hours goal for the year, so not just a reading goal or a pages goal. You can set an hours goal. Or maybe you're someone like me, where audiobooks are the smaller proportion of your reading, and you just want it all calculated as pages. And so I've got it on the setting where it's like, even when I track an audiobook in StoryGraph, convert it to pages for me, and I just have my nice, all-round page number at the end of the year. VICTORIA: That's so cool. Really interesting. And I've had such a nice time chatting with you today. Is there anything else that you'd like to share as a final takeaway for our listeners? NADIA: If you are someone who wants to start a company, maybe you want to bootstrap, you've got a product idea, I think it's honestly just trust the process. It will take time. But if you trust the process, you listen to customers and really listen to them...research ways to talk to customers, and don't cut corners with the process. There have been so many times when I've done a whole round of research, and then I say, oh, do I have to go through all these now and actually do a synthesis? I think anecdotally; I can figure out what the gist was; no, do the research. You don't know what insights you're going to find. And I think if you just trust that process...and I think the other thing is before you get to that stage, start building up a runway. Having a runway is so powerful. And so whether it's saving a bit more or diverting funds from something else if you have a runway and you can give yourself a couple of years, a few years without worrying about your next paycheck, that is incredibly valuable to getting started on your bootstrapping journey. VICTORIA: Thank you. That's so wonderful. And I appreciate you coming on today to be with us. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Mastodon at Victoria Guido. This podcast is brought to by thoughtbot and produced and edited by Mandy Moore. Thank you for listening. See you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Special Guest: Nadia Odunayo.Sponsored By:thoughtbot Incubator: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator.Support Giant Robots Smashing Into Other Giant Robots

Dr. Aadeel Akhtar is the Founder and CEO of PSYONIC, a company whose mission is to develop advanced prostheses that are affordable for everyone. Victoria talks to Dr. Akhtar about the gaps in the market he saw in current prosthetic ability, advancements PSYONIC has been able to make since commercialization, and essential principles and values that were important to him when building out the PSYONIC team. PSYONIC Follow PSYONIC on LinkedIn or Twitter. Follow Dr. Aadeel Akhtar on LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is The Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host Victoria Guido. And with me today is Dr. Aadeel Akhtar, Founder and CEO of PSYONIC, a company whose mission is to develop advanced prostheses that are affordable for everyone. Aadeel, thank you for joining me. DR. AADEEL: Thank you for having me, Victoria. This is fun. VICTORIA: Yes, I'm excited to meet you. So I actually ran into you earlier this week at a San Diego tech meetup. And I'm curious just to hear more about your company PSYONIC. DR. AADEEL: So, as you mentioned, we develop advanced bionic limbs that are affordable and accessible. And this is actually something I've wanted to do my whole life ever since I was seven years old. My parents are from Pakistan. I was born in the Chicago suburbs. But I was visiting, and that was the first time I met someone missing a limb; and she was my age missing her right leg, using a tree branch as a crutch, living in poverty. And that's kind of what inspired me to go into this field. VICTORIA: Wonderful. And maybe you can start with what gaps in the market did you see in current prosthetic ability? DR. AADEEL: When we first started making these prosthetic devices, we were 3D printing them. And we thought that the biggest issue with prosthetic devices was that they were way too expensive and saw that with 3D printing, we'd be able to reduce the prices on them. And that's true; it was actually one of the biggest issues, but it wasn't the biggest issue. After talking with hundreds of patients and clinicians, the number one thing that we found that patients and clinicians would raise issue with was that their super expensive bionic hands were breaking all the time. And these were made with injection molded plastics and custom-machined steel. And they weren't doing anything crazy with it. They would accidentally hit the hand against the side of a table, but because they were made out of rigid components, they would end up snapping up those joints. And a natural hand, for example, if you bang a natural hand against a table or a rigid object, then it flexes out of the way. It has compliance in it, and that's why it's able to survive those types of hits and impacts a little bit more. It forced us to think outside the box of how can we still leverage the low-cost manufacturing of 3D printing but make this hand more robust than anything out there? And that's when I started looking into soft robotics. And with soft robotics, instead of making rigid links in your robot, so instead of having rigid joints and components, you'd use soft materials like silicone that are more akin to your skin and your own biological tissues that are more flexible and compliant. So we started making the fingers out of rubber and silicone. And now we've been able to do things like punch through flaming boards, and I dropped it from the roof of my house 30 feet up in the air, and it survived. We put it in a dryer for 10 minutes, and it survived tumbling around in a dryer. I've arm wrestled against the para-triathlete national champion and lost. So this thing was built to survive a lot more than just hitting your hand against the side of a table. VICTORIA: Wow, that sounds incredible. And I love that you started with a premise, and then you got feedback from your users and found a completely different problem, even though that same problem still existed [laughs] about the low cost. DR. AADEEL: Absolutely. VICTORIA: Wow. So taking it back a little bit more to the beginning, so you knew you always wanted to do prosthetics since you grew up in Pakistan and saw people without their limbs. Take me a little bit more from the beginning of the journey. When did you decide to start the company officially? DR. AADEEL: And just to clarify, I was just visiting Pakistan for the summer, but I grew up and was raised here in the U.S. So I went to Loyola University Chicago for undergrad, and I got a bachelor's degree in biology there, followed by a master's in computer science. And the original plan was to actually become an MD working with patients with amputations and developing prosthetics for them. But while I was an undergraduate student at Loyola, I took my first computer science class, and I absolutely loved it. I loved everything about coding, and programming, and engineering. And I realized that if I became a straight-up MD, I wouldn't get to do any of the cool things that I was learning in my computer science classes. And I wanted to figure out a way to combine my passions in engineering and computer science with clinical medicine and prosthetics. And right down the street at a hospital formerly known as The Rehabilitation Institute of Chicago...it's now the Shirley Ryan AbilityLab. It's the number-one rehabilitation hospital in the U.S. for the last 31 years. They made these huge breakthroughs in mind control bionic limbs where they were doing a surgery where they would reroute your nerves to other muscles that you already have on your body. And then, when you try to imagine bending your phantom elbow or making a phantom fist, your chest muscles would contract. And then you could use those signals to then control this robotic limb that was designed by Dean Kamen that was sponsored by DARPA and cost hundreds of thousands of dollars. That was just absolutely incredible. And it was this perfect mixture of engineering and clinical medicine, and it was exactly what I wanted to get into. But, as you'd mentioned, we're all about accessibility, and a $100,000 cost hand would not cut it. And so I ended up finishing a master's in computer science. I taught at Loyola for a couple of years and then went to the University of Illinois at Urbana-Champaign, where I got another master's in electrical and computer engineering, a Ph.D. in neuroscience. And then I finished the first year of medical school before I left to run PSYONIC because it is a lot more fun building bionic limbs [laughs] than finishing medical school. And while I was a graduate student, we started 3D printing our own prosthetic hands, and we got the chance in 2014 to go down to Quito, Ecuador, where we were working with a nonprofit organization called The Range of Motion Project. And their whole mission is to provide prosthetics to those who can't afford them in the U.S., Guatemala, and Ecuador. And we went down there, and we were working with a patient who had lost his left hand 35 years prior due to machine gunfire from a helicopter; he was in the Ecuadorian Army. And there was a border war between Ecuador and Peru. And Juan, our patient, in front of international news stations, said that he felt as though a part of him had come back. And that was because he actually made a pinch with his left hand for the first time in 35 years. And you have to imagine the hand at that time was three times the size of an average natural hand, adult human hand. Had wires going everywhere, breadboards, power supplies, the walls, you name it. And despite that, he said that a part of him had come back. And he actually forgot how to make a pinch with his left hand, and we had to retrain his brain by placing a mirror in front of his left side reflecting his right hand, tricking his brain into thinking that his left hand was actually there. And he would make a pinch with both sides, and it would reactivate the muscles in his forearm on his left side. And when he said that, that's when I realized that if I stay in academia, then this just ends up as a journal paper. And if we want everyone to feel the same way that Juan did, we had to commercialize the technology. And so that's when PSYONIC was born. VICTORIA: I love that you're working on that as someone who's from Washington, D.C., and has done a lot of work in veterans and homeless organizations and seen how life-changing getting access to limbs and regaining capability can be for people. DR. AADEEL: Absolutely. In fact, our first user in the U.S. is a U.S. Army sergeant who lost his hand in Iraq in 2005 due to roadside bombs, Sergeant Garrett Anderson. He used a hook on a daily basis, and with our hand, he's actually able to feel his daughter's hand, which is something that he wasn't able to do with any other prosthesis. And for him to tell us that that is why we do what we do. VICTORIA: Right. And I saw on your website that you have several patents and have talked about the advances you've been able to make in what I'm going to call the sensorimotor bionic limbs. Can you tell me a little bit more about some of the advancements you've been able to make since you decided to commercialize this? DR. AADEEL: The first thing that usually users notice is that, and clinicians notice as well, is that the hand is the fastest bionic hand in the world. So the fingers close in about 200 milliseconds. And to put that into context, we can wink our eyes in about 300 milliseconds. So it's technically faster than the blink of an eye, which is kind of a cool statistic there. So it's super fast. And the fingers are super resistant to impact, so they're very durable. And so we've got a couple of patents on both of those items in particular. And then there's the touch feedback aspect. So this is the only hand on the market that gives users touch feedback. And so the methods that we have to mold the fingers to enable that sensory feedback that is what our third patent is on for the hand, and it just looks really cool. It's got like this black carbon fiber on it that just looks really futuristic and bionic. And it just gives users the confidence that this isn't something to be pitied; this is something that's really cool. And especially for our war heroes, that's something to be celebrated that I lost my hand for our country, and now I've got this really cool one that can do all of the things that my hand used to do. VICTORIA: And I also saw that it's reimbursable by Medicare in the U.S. And I was curious if you had any lessons learned from that process for getting eligible for that. DR. AADEEL: Yeah. And that was part of the goal from the very beginning. After we did our customer discovery process, where we figured out what the pain points are and found out that durability was one of the biggest issues, obviously, one of the other issues was the really expensive price of the other hands, and typically what we call a multi-articulated hand, so that's one where each one of the fingers move individually. Those are only covered by the VA, so if you're in the military or workman's comp so if you had a workplace accident. And that only accounted for about 10% of the U.S. market. And what the clinicians kept telling us over and over again was that if you can get the hand covered by Medicare, then usually all the other insurance companies will follow suit, like your Blue Cross Blue Shield, your Aetna, your Kaiser, et cetera. So that was our design goal from the beginning. So how can we hit a price point that Medicare would cover but also make this fully featured that no other hand can do any of these other things? What it primarily came down to was hitting that price point. And as long as we hit that price point, then Medicare was going to be fine with it. So we invented a lot of the manufacturing methods that we use in-house to make the hand in particular. So we do all the silicone molding. We do all the carbon fiber work. We do all the fabric work. We do all the assembly of it in-house in our warehouse here in San Diego. And by being so vertically integrated, we're able to then iterate very quickly and make these innovations happen at a much more rapid scale so that we can get them out there faster and then help more people who need it. VICTORIA: So you've really grown tremendously from when you first had the project, and now you have a team here in San Diego. Do you have any lessons learned for enabling your team to drive faster in that innovation? DR. AADEEL: Yeah, the biggest thing that I feel like a lot of things come down to is just having grit. So especially with a startup, it's always going to be a roller coaster ride. And for us, I think one of the big motivating factors for us is the patients themselves when they get to do these things that they weren't able to do before. So another one of our first patients, Tina, had just become a grandmother, and she was able to feed her granddaughter for the first time because she was able to hold the bottle with her bionic hand, The Ability Hand, and then hold her granddaughter with her natural hand and then feed her using The Ability Hand. It's, like I said, moments like that is why we do what we're doing. It gives us that motivation to work those long hours, make those deadlines so that we can help as many people as possible. VICTORIA: Right. So you have that motivating power behind your idea, which makes a lot of sense. What else in your customer discovery sprint was surprising to you as you moved through that process? DR. AADEEL: So there was definitely the robustness that was surprising. There was the cost that wasn't necessarily the highest priority thing, which we thought would be the highest priority. And the speed and just having to rely on visual feedback, you have to kind of look at the hand as you're doing the task that you're doing, but you have to look at it very intently. So that takes a lot of cognitive load. You have to pay attention very specifically to am I doing the right movement with my hand? In ways that you wouldn't necessarily have to do with a natural hand. And by making the hand move so responsive as it is and move so quickly, in addition to having that touch feedback, that reduces, or at least we believe it'll reduce a lot of that cognitive load for our patients so that they don't have to be constantly monitoring exactly what the hand is doing in order to do a lot of the tasks or the activities of daily living that they're doing on a day to day basis. The whole customer discovery process drove what features we were going to focus on in actually making this hand a reality. VICTORIA: Yeah, that makes sense. And I love hearing about what came up that surprised people. And I appreciate your commitment to that process to really drive your business idea and to solve this problem that happens to so many people in the United States. Well, how widespread is this issue? And, of course, I'm sure you're targeting more than just the United States with rollout, but... DR. AADEEL: So, globally, there are over 10 million people with hand amputations, and 80% of them actually live in developing nations, and less than 3% have access to affordable rehabilitative care. So it's a huge need worldwide, and we want to make sure that everyone has access to the best available prosthetic devices. VICTORIA: That makes sense. So I guess commercializing this product leads to more room, more availability across for everyone. DR. AADEEL: Absolutely. And interesting thing about that, too, is that as we were developing these, the hand in particular, we've optimized it for humans to do human tasks. And we have a programming interface that we put on it that allows researchers to control each one of the fingers like you control the speed, the position, and the force from each one of those fingers as well as you can stream all of the touch sensors like over Bluetooth or over a USB connection, and then also the location of each one of those fingers as well. A lot of robotics researchers who are building humanoid robots and robot arms to do other tasks like manufacturing and robotic surgery and things like that have been purchasing our hand too. So notably, for example, NASA and Meta, so Facebook Meta, have purchased our hands, and NASA is putting it on a humanoid astronaut robot, which hopefully will eventually go into space. And then, on Earth, they'd be able to control it and then manipulate objects in space. And it's opened up an entirely new market, but the critical thing here is that it's the exact same hand that the humans are getting that the robots are getting. And what this allows us to do is just expand our volume of production and our sales so that we can actually further drive down the costs and the pricing for the human side of things as well. So if we're talking about places like India, or Pakistan, or Guatemala, or Ecuador where there are no government incentives in place to reimburse at a rate that they might in the U.S., then we can actually get the price point to one that's actually affordable in those areas as well. And I'm really excited about those prospects. VICTORIA: That's so cool that future robot astronauts will be financing people who have no ability [laughs] to go into space or anything like that. That's a cool business idea. I wonder, when did that happen for you, or what was that like when you realized that there was this other potential untapped market for robotic limbs? DR. AADEEL: It's interesting. It was always in the back of our minds because, as I was a Ph.D. student, I was in the Ph.D. group that focused on robotics, in particular more so than prosthetics. And I was the first one in the group to actually kind of have the prosthetic spin on things. And so I had an idea of where the market was for the robotic side of things. And I had some connections as well. And so I was actually giving a talk at Georgia Tech early last year. The Director of the Georgia Tech Robotics Institute, Dr. Seth Hutchinson, he was telling me that...he was like, "You should go to the big robotics conference, ICRA, because people are going to be like...absolutely love this product for their robots." And we were just like, huh, we never considered that. And so we decided to go, and it was just absolutely nuts. We've had researchers from all over the world being like, "How can I get this hand?" And compared to a lot of the robotic hands that are out there, even on the robotic side, this is a much lower price point than what they've been dealing with. And by solving a lot of the problems on the human side, like durability, and sensory feedback, and dexterity, and the pricing, it actually solved a lot of the problems on the robotic side as well. So I was just like...after we had gone to that conference, we realized that, yeah, we can actually make this work as well. VICTORIA: That's really cool. And it sounds like tapping into this robotics market and networking really worked for you. What else about your market research or strategy seem to be effective in your business growth? DR. AADEEL: This is interesting as well. So half of our sales actually come from social media, which for a medical device company is usually unheard of. [laughs] Because usually the model is, for medical devices, where you have a group of sales reps located across the regions that you're selling and so across the U.S. And they would visit each one of the clinics, and then they would work with the clinicians directly in getting these on the patients. That usually accounts for like 99% of sales. And so for us, for half of them to come from social media, it was a goal that we had set out to, but it was also surprising that that accounted for so much of our volumes and our revenue. The way we set it up was that we wanted to make videos of our hand that highlighted things that our hand could do that were novel and unique. And so, for example, we wanted to highlight the durability of the hand as well as the dexterity and the touch feedback. And so some of the first videos that we made were like arm wrestling against a bionic hand. And what's cool about that is that the general public just found that very interesting in general. But also, when a clinician and a patient sees that, wow, this hand can actually withstand the forces of an actual arm wrestling match, then they're also just as impressed. And the same thing with punching through three wooden boards that we set on fire; if it can handle that, then it can handle activities of daily living. General public seizes, and they're just like, "Whoa, that's so cool." But then clinicians and the patients they see that, and they were like, "My prosthetic hand couldn't do this before." And so then they contact us, and we're like, "How can we get your hand?" And then we'll either put them in contact with a clinician, or we'll work with one of the clinicians that they are already working with then go through their insurance that way. And so it's just been a really exciting and fun way to generate, like, expand our market and generate sales that we didn't necessarily think was going to be a viable way from the start. VICTORIA: Right. I totally get it. I mean, I want one, and both my hands still work. MID-ROLL AD: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator, that's tbot.io/incubator. VICTORIA: Have you ever seen someone rock climb with the prosthetic hand? DR. AADEEL: Not yet, but that is something that is definitely on our docket. VICTORIA: Okay, well, we need to do it. Since we're both in San Diego, I can help you. [laughs] DR. AADEEL: Sweet. I love it. [laughs] VICTORIA: Yeah, we can figure that out because there are, especially in the climbing gyms, there are usually groups that come in and climb with prosthetic limbs on a regular basis since it's a kind of a surprisingly accessible sport. [laughs] DR. AADEEL: So one of the great things about being here in San Diego is that there's like a ton of incredible resources for building prosthetics and then for users of them as well. So the Challenged Athletes Foundation is located 10 minutes from us. So we're located in Scripps Ranch. And the Challenged Athletes Foundation they're like over in the Sorrento Valley area. They hold the para-triathlon every year. And so we just went to their event a couple of months ago, and it was absolutely incredible. And so we've got like a five-year goal of making an ability leg. So we have The Ability Hand right now. So the ability leg, we want to actually be able to perform a triathlon, so run, bike, and swim with the leg. And I think that would be a phenomenal goal. And all the pieces are here in San Diego. We got the military hospital, and so we've got the veteran population. We've got the Challenged Athletes Foundation. We've got UCSD, and they're incredible at engineering. We've got two prosthetic schools right around LA, so Loma Linda University in California State University, Dominguez Hills. And there are only 11 in the entire nation, and two of them just happen to be right around here. It's a med tech hub. There's like a bunch of med tech companies and both startups and huge ones like NuVasive that are in the area. And it's a huge engineering place, too, with Qualcomm. And so we want to bring all of those resources together. And it's my goal to turn San Diego into the bionics capital of the world, where people from all over the world are coming here to have the most advanced devices ever created. VICTORIA: Oh, I love that idea. And you just moved to San Diego a few years ago. Is that right? DR. AADEEL: Actually, six months ago, so it's very new for us. VICTORIA: Six months? [laughter] Well, you sound like me when I moved to San Diego. I was like; it's great here. [laughter] DR. AADEEL: Well, I hope you still find it to be great. [laughs] VICTORIA: Yeah, I love it. I've been here for two years now. And, yes, there's more to it than just the weather being good all the time. [laughter] There's a lot here. DR. AADEEL: [laughs] It doesn't hurt, though, right? VICTORIA: Yeah. And, I mean, I love that I can still do my networking events outdoors all year long, so going on hikes and stuff versus being indoors in the winter. But I find it fascinating that San Diego has just so much biotech all around, and I will happily support how I can [laughs] turning it into a bionic limb capital. I think that's a great idea. Well, so I wanted to get back...we're talking about the future right now. I wanted to ask about building your team. So you started the company almost seven years ago, and you've grown the team a lot since then. Did you have any essential principles or values that you started with when you were building out your team? DR. AADEEL: Yeah. So when we were first hiring, I was still a Ph.D. student when I started the company. Our first employee was actually my undergraduate student. He's currently our Director of Engineering, Jesse Cornman. And we specifically were recruiting people that did stuff outside of the lab, so the electrical engineers and the mechanical engineers that we initially hired. We wanted to make sure that it wasn't just like the university projects that they were working on. And we would find a lot of our early people from like car team so like this was like building like a solar car, so Illini Solar Car was one of our places where we'd get a lot of our early employees as well as the electrical vehicle concept team and design, build, fly, and these student organizations where they had like competitions, and they had to build real, tangible things to compete in with. And the thing is that those are the people who do this stuff for fun, and you learn the most when you're having fun doing this stuff. And so we would always look for that stuff in particular. And there were some litmus tests that we'd have to be able to weed out very quickly what people know what. And so for electrical engineers, we would always ask if they know surface mount soldering because it's not like your typical soldering on a perf board or even like using a breadboard. It's like you have a circuit board, and you have to solder these very small components on there. And if you know how to solder those small components, you typically know how to code them as well. So they have some embedded systems background as well and some PCB design experience as well. And so that was like a quick litmus test that we use for the electrical engineers. For the mechanical engineers, it was typically if they knew how to do surface modeling. And so we would ask them, "How would you make the palm of a hand where you got these complex structures and these complex surfaces that have different geometries and different curvature?" And if they were able to do a surface modeling, then we knew that they'd be able to CAD that up pretty quickly. They probably have some sort of 3D printing experience from that as well, and that they can just rapidly iterate and prototype on the devices. And so that worked really, really well. And so we were able to get a lot of bright engineers who early on in the company...and many who were student interns at the time that eventually even went on to Microsoft and Google or some of the students went to MIT and places like that. And we were very fortunate to be in the University of Illinois at Urbana-Champaign's ecosystem, where it was just one of the best engineering schools in the world to develop this kind of stuff. VICTORIA: That's great. So you had really specific skills that you needed. [laughs] And you kind of knew the type of work or an experience that led to that. As you've expanded your team and you're building a culture of collaboration, how do you set expectations with how you all work together? DR. AADEEL: As a startup, we all wear many, many hats. So my job, I feel like, is to fill in all the gaps. And so some days, I might be doing marketing; some days, I might be visiting a clinic and doing sales. Other times I'm working with the engineering team to make sure that we're on track over there. And it's like all this stuff in between. And so being able to work cohesively like that and put on those many hats so that you know every part of the process from the marketing and sales sides but also the engineering and operations side, I think that's really allowed us to get to the point where we have by doing all these different functions together. VICTORIA: That makes sense. So you are all located in San Diego now, so you have to be in person to work on robot hands? DR. AADEEL: Yeah, we found that it was much easier to build a physical object in person than it was to do things remotely. At the beginning of COVID, we actually did try to, like, you know, we moved 3D printers out into people's houses and the manufacturing equipment. And then I remember just to put together a power switch that usually took like one hour to do in the lab. It took us a day and a half because one person had the circuit board, the other person had the enclosure, the other person had the thing to program it. And then each thing depended on each other. So you had to keep carting that small piece back and forth between houses, and it was just a nightmare to do that. And so after a couple of months, we ended up moving back into the offices and manufacturing there with staggered work hours or whatever. And at that point, we were just like, okay, this is much more efficient when we're all in person. And honestly, a lot of our best ideas have come from just me sitting here and then just walking over to one of the engineers and being like, "Hey, what do you think of this idea?" And it's a lot harder to do when you're all remote, right? VICTORIA: That makes sense. Yeah, just the need to physically put pieces together [laughs] as a group makes it hard to be fully remote. And you get a lot of those ideas flowing when you're in person. What is on the horizon for you? What are you most excited about in your upcoming feature set? DR. AADEEL: Like I said, one of the reasons why we moved here was to work with the military hospital, and so some of the work that we're doing with them is particularly exciting. The way you typically wear these prosthetic devices...so you'll have muscle sensors that are embedded in a...it's like a shell that goes around your residual limb. We call it the socket. Think about it as like a shoe for your residual limb. And the thing is, as you're wearing this throughout the day, it starts to get sweaty. It starts to get uncomfortable. Things shift around. Your signals don't control the hand as well because of all these changes and everything. And with the military hospital, we're working on something called osseointegration. So instead of having this socket that's molded to your residual limb that you shove your arm into, you have a titanium implant that goes inside your bones and then comes out of your body, and then you directly attach the hand to your bones like a limb naturally should be. And then, on top of that, instead of using these muscles sensors on the outside of your body, we're actually working on implanted electrodes with some of our collaborators. For example, at University of Chicago, they're doing brain implants to control prosthetic limbs. And a company in Dallas called Nerves Incorporated that's working with the University of Minnesota and UT Southwestern; they're doing nerve implants in your forearm and in your upper arm to control prosthetic limbs. And with those, you get much more fine control, so it's not like you're just controlling different grips, like preset grips in the hand, but you're actually doing individual finger control. And then, when you touch the finger, it's actually stimulating your nerves to make it feel like it's coming from your hand that you no longer have anymore. And this is where we're heading with all of this stuff in the future. And so we built The Ability Hand to work with clinically available systems now, like sockets, and muscle sensors, and vibration motors that are all outside of the body. But then also, when these future technologies come up that are more invasive that are directly implanted on your nerves as well as into your bones as well, we're really excited about those prospects coming out in the horizon. VICTORIA: That's really cool. [laughs] I mean, that would be really life-changing for a lot of people, I'm sure, to have that ability to really control your fingers and get that extra comfort as well. How do you manage quality into your process, especially when you're getting invasive and putting in nerve implants? What kind of testing and other types of things do you all do? DR. AADEEL: With The Ability Hand itself, there was actually an FDA Class I exempt device, meaning that we didn't have to go through the formal approval process that you typically do. And that was primarily because it's attached to your residual limb as opposed to going invasive. But with going invasive, with our clinical partners they're actually doing FDA clinical trials right now. And so they've gone through a lot of those processes. We're starting to enroll some of our patients who are using The Ability Hand to get these implanted electrodes. We're kind of navigating that whole process ourselves right now too. So I think that was one of the reasons why we moved to San Diego, to work with and leverage a lot of the expertise from people who've done it already, from the med tech device companies that are big that have gone through those processes and can guide us through that process as well. So we're excited to be able to leverage those resources in order to streamline these clinical trial processes so that we can get these devices out there more quickly. VICTORIA: That's very cool. I'm super excited to hear about that and to learn more about PSYONIC. Is there anything else you want to share with our audience today as a final takeaway? DR. AADEEL: Absolutely. So in order to make all this stuff happen, we're actually in the middle of raising a round right now. Our biggest issue right now is actually that we've got more demand than we can produce, so we're working on scaling our manufacturing here in San Diego. So we're in the middle of an equity crowdfunding round. And we're all about accessibility, so about making our hand accessible to as many people as possible. So we were like, why don't we make the company accessible as well? And one of the most beautiful things about doing this as an equity crowdfunding round is our patients actually have invested in the company as well. And so it's like, we're making these devices for them, and then they get to be a part of it as well. And it's just this beautiful synergy that I couldn't have asked for anything more out of a crowdfunding campaign. And so we've raised over 750k already on StartEngine. And you can find out more and invest for as little as $250 at psyonic.io, so that's psyonic.io/invest. And the other thing I was going to mention, especially Victoria since you're in San Diego as well, is that I happily give tours to anyone who is in the area. So if anyone wants to see how we build all these bionic hands and just a cool robotics startup in general, we'd be happy to have you come visit us. VICTORIA: That's very cool. I'll have to connect with you later and schedule a tour myself. [laughs] That's wonderful. I'm excited to hear all the things you're working on and hope to see you more in the San Diego community coming up. And we'll share links to the funding page and other information about PSYONIC in our show notes. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Mastodon at Victoria Guido. And this podcast is brought to by thoughtbot and produced and edited by Mandy Moore. Thank you for listening. See you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Special Guest: Aadeel Akhtar.Sponsored By:thoughtbot Incubator: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator.Support Giant Robots Smashing Into Other Giant Robots

Irfan Alam is the CEO of Frontrow Health, a startup with a mission to finally put Americans in the front row of their own healthcare. Will and Victoria talk to Irfan about his background in business strategy and development for healthcare companies, how he went about searching for and building the perfect team, and how he started the culture of Frontrow Health on a level where there is balance and people want to join because it has a good culture. Frontrow Health Follow Frontrow Health LinkedIn. Follow Irfan Alam on LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: WILL: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Will Larry. VICTORIA: And I'm your other host, Victoria Guido. And with us today is Irfan Alam, Founder, and CEO at Frontrow Health, a startup with a mission to finally put Americans in the front row of their own healthcare. WILL: Hi, Irfan. Thank you for joining us. IRFAN: Thanks for having me; super excited to chat more about the whole process of building and launching Frontrow Health. VICTORIA: Yes, we're super excited. Of course, I know you as a client of thoughtbot, and I'm excited to hear your story. And you have this background in business strategy and development for healthcare companies. But what led you to decide to start your own platform? IRFAN: I think it was a combination of two things; one was a lived experience being inspired by the power of entrepreneurship with my family and then working at Everlywell. And then two, it was discovering and being reminded of a critical problem that I saw in the industry that I then became excited about solving. So growing up, I was raised by my two parents and my grandparents. My grandfather was an entrepreneur himself and also an immigrant and kind of brought our whole legacy of my family into the U.S. from Southeast Asia. He has always motivated me to take risks and to build something great for the world, and that's what he's always wanted for me. And so I joined Everlywell, a small digital health startup, back in 2019 because I was excited to get my feet wet in the world of startups. It was just within a number of months after that I had joined where COVID-19 hit, and Everlywell, a home lab testing company based out of Austin, got swept up into the storm of COVID and, in a lot of ways, threw ourselves into the center of the storm when we ended up launching the first home COVID-19 test. And it was that summer of 2020 when I probably had the most profound personal and professional growing experience of my life, just trying to handle this chaos and confusing world that we were all living in. But then also simultaneously watching how a small team could make an outsized impact in the world during a time of need. And that really led me to want to pursue my own startup ambitions. So I started thinking about business school. The founder and CEO, Julia Cheek, went to Harvard Business School in 2009 and publicly talks about it being sort of this magical moment in time where people were flooding in from the downturn economy, excited about solving new problems. And her class of graduates is sort of like a famous class of entrepreneurs. And so I brought it up with her, and she was super supportive. And I went through the process and got super lucky. And I decided to take the summer off in 2021 before coming to HBS and moving back to Boston. And it was during that summer where I started thinking about the problems that companies like Everlywell and direct-to-consumer health brands faced that I realized was not just at the fault of their own but because the industry didn't have the right digital tools necessary to succeed. That's sort of the origin of how Frontrow Health came to be. WILL: Sweet. So perfect segue; tell us more about the mission of Frontrow Health. IRFAN: We're on a mission to put people on the front row of their own healthcare. And we really just want to reimagine how people shop for their healthcare online. What I learned at Everlywell was that this boom of consumer health which means people who are taking charge of their own health and are able to do that directly through these digital health companies was a form of healthcare that could create a tremendous amount of value in people's lives. But that was only really accessible to a small niche audience. And it didn't feel like it was equitably accessible to the average American. And so some of those barriers that I realized as a part of my work at Everlywell for why the average American wasn't engaging with consumer health, this otherwise really powerful form of taking charge of your own health and wellness, was because of these three blockers that we're trying to address at Frontrow Health. The first being that people just don't know about what kinds of solutions are out there that can address their health issues beyond just taking a prescription medication given to them by the doctor that they visit in their office. The second is if they do know, they don't know what to trust. They don't know whether this spam of healthcare companies that they're getting advertisements on from Instagram are the right companies, whether these products are safe and effective for them uniquely because of their unique health issues their unique health history. And then finally, even if they are aware and they do trust the health product, at the end of the day, a lot of Americans just can't afford to spend money out of pocket to pay for these consumer health and wellness products like consumables, devices, virtual services, et cetera. And so Frontrow Health is all about trying to break down those barriers in order to unleash consumer health to the average American. VICTORIA: And were you always drawn to that healthcare industry from the beginning? IRFAN: Yeah. So I grew up very privileged with two parents who are physicians. My mom is a psychiatrist, which is quite rare for women of color, specifically of South Asian descent, to be a psychiatrist. And then my dad was a gastroenterologist. They were always the gut-brain connection between the two. And so, growing up, I somewhat classically assumed that I was going to be a doctor. Got to college, thought that that was going to be my path. I realized quickly that there is a whole world outside of being a physician yourself that I could still be a part of in healthcare without being a doctor. My parents actually, interestingly enough, began to encourage me to think beyond just being a doctor, with them both feeling like the amount of scale of impact that they could have would never be the same as someone who could do that through business or policy or these other facets that are important to healthcare. And so I got to undergrad, started studying policy economics. I started doing internships at different healthcare consulting firms. And I ended up first working at a life science business strategy consulting firm out of college. And it was great, but it ended up not being what I was most excited about because it was really focused on the biopharmaceutical and medical device industry. And what I realized when I got there was I just had this growing passion for digital health and technology, as I saw that it was kind of the future of how people were going to be able to take more preventative charge and improve their health over the long term. And so I was working on this digital health white paper with a partner at the consulting firm I was at, and I was doing research and stumbled upon Everlywell. And then, they had a job opening for this business strategy role. So that's why I ended up taking the leap into the startup world, into the digital health world, and just loved it and kept wanting to continue to grow my experience in that space. WILL: That's amazing. Your parents encouraged you to step outside of just the doctor-physician role and to think higher. So, as a founder, you know, it was amazing that your parents, as physicians, encouraged you to think higher and think into different roles. And as a founder, what were some of the decisions you had to make? What were some of the easier ones? What were some that were surprisingly difficult? IRFAN: I think the biggest misnomer of the founding experience is that founding a company is extremely linear. Sometimes you go one direction forward, and then you take a direction diagonally back, and then you go horizontally straight, and that was my story. When I do my pitch about Frontrow, I try to make it feel a little bit more linear, so it makes sense to people. But the truth is the quote, unquote, "hardest decisions" were about every time there was a direction changing point, and it required a decision about is this the right idea? Do I want to spend more time on another idea? Have I validated this enough? Should I validate it differently? Should I pursue this one further? What does that pursuit look like? Who should I pursue it with? Is it time to raise money? Do I drop out of school? Like, those direction-changing points that then create this much more complex map of the founder experience versus a linear line up into the right is, I think, the more challenging parts of being a founder. VICTORIA: That makes a lot of sense that you have to really go through this iterative process to figure out where are you spending your time, is it in the right place? A lot of hard decisions to make. And while you were founding Frontrow Health, you were also a part-time investor at Rock Health and reviewing other healthcare startup proposals. So did you see any trends or patterns that influenced how you progressed as a founder? IRFAN: Totally, yeah. That was actually instrumental to Frontrow Health. So the story is when I took the summer off before business school, I started thinking about different problems in the world, healthcare, and non-healthcare. Or actually, to be clear, I started thinking about lots of different solutions and ideas and then quickly began to realize that that was not the right approach to founding. I think the first step is to think about problems, problems you've seen, problems you've experienced, that you know others are experiencing, and then work to a solution from there by starting with what the user is experiencing. And so as I was going through that hacky journey over the summer, just randomly, a number of small healthcare companies started reaching out to me asking me for my opinion and advice about how or whether they should go direct-to-consumer, whether they should sell healthcare products direct to the consumer, which is what I did a lot of work on at Everlywell as one of the pioneering consumer health brands in the space. And I started to notice this trend of me telling these companies, "No, don't do it. It's really expensive. It's really ineffective and unprofitable to acquire customers through traditional paid media avenues like Instagram, TikTok, Snapchat, Facebook, et cetera." And, unsurprisingly, you could imagine Everlywell was trying to sell a home diabetes test for people who are type 2 diabetics but were only able to target people based on their interest in yoga and running, which is not really a substitute for a severe chronic condition. And as a result, thousands of people would see our ads every day that had no clinical relevance to our solution. And that was one of the deep problems of why consumer health companies weren't able to reach out to the audiences that actually really needed their solutions. And so when I got to Rock Health at the first semester in business school, doing this sort of part-time investor gig, on the first day, the partners basically told me, "Oh, we don't invest in consumer health." And I was like, "Oh, whoa, okay, that's my jam. That's a bummer. That's like [laughs] the only thing that I know about." And as I started to see the data and the pipeline of companies that were looking for investments and understanding what their unit economics looked like, what their go-to-market approaches looked like, that's when I started to put the dots together that this was not just an Everlywell problem; this was an industry problem. Mark Zuckerberg didn't build Facebook so that direct-to-consumer healthcare companies can cost-effectively target clinically relevant patients online. That just happens to be what it's being used for today. And so that's when I started to realize that there had to be a quote-unquote, "better way." WILL: You bring up social media at Frontrow Health. Have you had to combat the medical advice of social media? IRFAN: Yeah. You mean like this concept of quote, unquote, "Instagram medicine?" WILL: Yes. Yes. IRFAN: It's a great question. So as the story continues, I began to think about what is the right solution to this problem? And instead of Everlywell, I started thinking about the right solution to this problem. What I realized was instead of Everlywell wasting away millions of dollars to big tech companies that wasn't going to improving the health of anybody, what if we gave that money back to the consumer in reward for sharing their health information which would allow us to target them with the right clinically relevant products? That was the first version of Frontrow Health. I called it Health Mart back then. And so I basically started to get people to fill out a Google Form with their health data. And then I worked with my parents to send weekly product recommendations over email based on their unique health needs; you know, I want to sleep better; I'm a diabetic, whatever it is. And then, I wanted to see if I was just going to Venmo them cashback upon purchase if they were going to be any more likely to buy these products for these health brands. And at first, people were incrementally more likely to buy. It wasn't mind-blowing. And so, as I started to talk to the participants of the study, I started saying, "You know, you said that you have high cholesterol. These supplements have active ingredients that have been shown to reduce LDL levels. It's pretty cheap. I'm giving you 25-30% cashback. Why haven't you bought it?" And what they started saying was, "Well, I don't know what these active ingredients are. And before I put that in my body, I want to check with my doctor first." And so that was the final aha moment that led us to Frontrow Health, which is, what if we could bring the doctor into the fold? And instead of consumers just experiencing this Instagram medicine where they're just being blasted with Instagram ads every day about different health products, and they don't know what to trust, that second barrier that I talked about earlier, what if the doctor could instead of just being a guide for what prescription medications you should be taking could also be a guide on what health and wellness products you can be using? And so I added my dad to the email thread, and I said, "Okay, you can talk to an independent medical provider and ask them questions about the products that you're being recommended." And that's when people started buying because then they were able to find the trust in the products that were being curated based on their unique information. WILL: Wow, that's really neat. So to help the audience understand your iteration today, so the first iteration was just giving products and then Venmoing them back cashback. And then the second was bringing in a provider. So what does the product look like today? IRFAN: We went through, like you mentioned, a lot of different iterations of this. There were even prior iterations to this that are more representative of that founder map versus the linear line that you've sort of just heard now. But in terms of where the story went from there, I began to think about how to validate this idea further. I came into winter break; the pilot went well. People were buying a lot of products. And so, I decided to sunset my part-time investor gig at Rock Health and decided to reallocate all my time to working on Health Mart at the time. What I started to think about was, well, what if the doctor was able to earn compensation for writing private product reviews regardless of their opinions? So that was the next iteration was like, how do you incentivize a doctor to take time out of their day to do this new behavior that doesn't exist? Doctors are not writing personalized private product reviews for their patients on supplements, home medical devices, apps, et cetera. And how could we get them to? And so, I started thinking about what are the different motivations of providers? Their time is extremely valuable. How do you incentivize them correctly without incentivizing them to give good or bad feedback but just honest feedback? Then I started basically having my dad recommend Health Mart to his patients every day to see would patients sign up. Like, if doctors were intrinsically motivated to get their patients on the platform so that they can help them get away from Instagram medicine and at the same time earn compensation for themselves as an additional revenue stream, could independent medical providers see that as valuable and a good use of their time? And the first piece of that about whether patients would sign up worked unsurprisingly very well. If your doctor is telling you to sign up for something, or it's free to sign up, and you only pay when you want to buy a product, and they're going to, for the user, be able to ask for feedback from the provider, they were pretty excited. But then the question of would doctors sign up, I started...basically, I had my mom. The next iteration was I had my mom make a couple of posts in these doctor Facebook groups. I put together a little website, a very ugly version of what we have today for a provider marketing page. And I had my mom drop the link in a couple of different doctor Facebook groups. And we actually started getting signups from the doctors. And then, as we started talking to them, what we realized was two things; it was like a win-win. The doctor was happy because they were getting compensated, and they were happy because their patients' health was improving. So when Obama was in administration, he passed a really fundamentally important piece of legislation called The Sunshine Act. And that basically ended this quote, unquote, "golden era" of pharma companies giving kickbacks to doctors. WILL: Oh wow. IRFAN: And so since then, doctors have been very eager to find additional revenue streams that they can leverage their decades of medical expertise to earn. They got medical bills to pay off loans to pay off. They spent 20 years training for this job. And so they were excited about an additional revenue stream that leveraged their medical expertise and also helped their patient. Because they also started saying things like, "Well, my patients are always asking me like, 'What about these supplements I saw for these ads online?'" And the doctor says, "I don't know what these supplements are. WILL: [laughs] IRFAN: I don't have the data in front of me. I don't know what the ingredients are. I don't know whether to trust the company or not." And we are building a platform where it's all streamlined for the provider. The provider is able to review the clinical information. They're able to review their patient information. They're able to really quickly write reviews. We give them templates. We give them suggestions. They're able to reapply recent reviews. And so that was sort of the next iteration. And that's actually when thoughtbot came in and when I started thinking about raising a small round, getting a dev shop to help me build the MVP. And that's kind of how the semester ended up closing out. VICTORIA: I love that your mom and dad were so supportive, it sounds like, of you going full-time on this startup. Was that scary for them for you to do that? IRFAN: It's so funny, yeah. So what happened next was I decided I wanted to start raising a small round because I had the conviction that there was a problem to be solved for consumers, for doctors, and for health brands. And we could build this one unique multi-sided marketplace to solve them. I ended up going back to Austin for spring break partially to visit my family and partially because I wanted to pitch to Julia, the founder of Everlywell, who I thought of all people on planet Earth would understand what I'm trying to do. She would get it because I am building a SaaS solution for health brands like Everlywell and her consumers. And she got it. She was jazzed. And so, she decided to angel invest. And that basically spurred a ton of interest from venture capital firms. I wasn't originally thinking about raising an institutional round but was very lucky with the timing. Just before the market crashed, it was a very hot market. And so we ended up closing a real seed round with the question on hand about whether I should pursue this full-time because the capital that I raised necessitated building a real team. Or should I just take a smaller amount of money and go back to school? And it's unsurprisingly, every different person in my life had some opinion about this, from my wife to my investors, to my parents, to my friends. What I wanted was somewhere nestled in between all of those things. And when I caught my dad up on the phone a couple of weeks after spring break and told him of all the crazy stuff that had been happening...and it was just happening and unfolding so quickly. I was like, "Okay, dad. I'm laying out all my cards here. You have full liberty to be mad at me for wanting to drop out of Harvard." And his first reaction was, "Well, you know, I don't really see the downside. Like, you could either start a company that you're really passionate about and it could go well, or you could be the worst entrepreneur of all time and then just come back to school during this leave of absence," or deferral thing that I'm on right now. And that was the first time where I was like, "Oh, you know what? I think you're right." And the truth was I decided to just continue to let the summer go by to think about the decision a little bit more before I formally submitted my deferral to HBS. As the markets turned, we realized that we needed to hire internally to save on cash burn a little bit. And so once I had built this really awesome team that I'm so lucky to be surrounded by, that's when I was, you know, without a doubt in my mind, I was like, I got to keep pushing for this because now we have this awesome team that just wants to keep driving this mission forward. And we were getting traction. We were talking to hundreds of doctors over the summer. We were talking to health brands. And it really felt like we were onto something. MID-ROLL AD: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator. That's T-B-O-T.I-OVICTORIA: I-N-C-U-B-A-T-O-R. WILL: I hear you have an amazing product team. How did you go about searching and building the right team? IRFAN: We got lucky in a second way because of timing, where the first time was I raised the capital when the market was really hot in April. And then, I started hiring when the market crashed. And, unfortunately, as you all know, lots of people have been getting laid off since the summer, particularly in the tech world: designers, engineers, marketers, et cetera. Now, all of a sudden, there was a flood of really great talent on the market. And that was also what spurred me to start thinking about hiring sooner than I was originally planning to. My forecast was to hire people end of this year, maybe in a month or so from now, to start that process. Versus, we ended up making our first full-time hire, I guess in July, maybe. And it was...the best way I can describe it is like dominoes falling where once you get the first one in, then it builds trust and credibility, and then the next one comes, and the next one. And so the first couple of folks were these two brilliant engineers who were close friends of my interim CTO and classmate, Amit, who was helping us build the foundation of the product this past summer. He did an amazing job of basically recruiting one engineer, Anand, our first engineer who started his career as a PM at Microsoft and then turned into a software engineer at a number of different startups and studied comp sci and electrical engineering at Berkeley with Amit, where they first met. And then the second engineer was Nupur, who was a colleague of Amit, a machine learning engineer at Google Brain and the moonshot X team at Alphabet. And they were both, I think, just kind of tired of big tech and were ready to bet on the upside and their career. And the timing was right based on where the market conditions were. And so they decided to take the leap of faith with me. And then after that, or around that time, kind of in the middle, we were able to bring on our head of design, Jakub, who is like a unicorn human with so much rich experience in the product world. So he was a computer animator and then studied visual arts, but then started his career very early in the coupon website space as a product designer actually. And then led product design as a founding designer at a number of different startups. And then, most recently, was a senior product designer at Roman, which is a really large digital health company similar to Everlywell. And Ro, Everlywell, Truepill, all these companies had mass layoffs in the middle of the summer. And so when Jakub took my call...He talks about a really funny story where he wasn't taking me seriously at all. Convincing these excellent, talented people to come join my dinky startup at the time was not easy. WILL: [laughs] IRFAN: And so he just kind of took it because there was a mutual connection. Or he just said, okay, I'll explore what's going on given how crazy the market is. But once he heard what we were building, he was immediately on board, actually, because Roman has also struggled with the same customer acquisition problems. And it's a huge reason why a lot of these digital health companies continue to remain unprofitable. And so he understood the problem deeper than I think anyone because of the experience he had in the same space that we were in. And he realized that there was an opportunity to build a solution to solve these problems. So that was the first core team. And then from there, it kind of just snowballed, you know, there was more and more interest from other folks to join. And we brought in a great junior product designer. We just hired our platform engineer. But that was the original core team from the summer who took the big leap of faith and joined because of the market conditions, the belief in the space. And we actually just met up in San Diego for the first time for a company retreat in person. And it was just fun meeting everyone in person for the first time because now I get to know them as real people and see all their personalities. And we're really psyched about coming to product launch pretty soon here. VICTORIA: That's wonderful and, you know, that compelling vision and having those first initial people join and brought in everyone else. You know, I think part of the reason people are hesitant to join startups is because there is that reputation for kind of unhealthy work-life balance. So you're a healthcare startup. So how do you start the culture of your company on a level where there is that balance and people want to join because it has a good culture? IRFAN: It's a super interesting question that we spent a lot of time actually talking about in San Diego as a team. And it was brought up because I have a somewhat unhealthy relationship with work. And I am constantly working. And this is the most important thing right now in our life. And so Nupur, one of our engineers, had a phenomenal analogy that I think is the right framework to think about this from a company culture perspective. Because I've always tried to share with a team, like, I don't expect them to work nearly as much as I do, and I don't want them to either. I think the analogy was such a fun, helpful way to think about why that was the case. And so she kind of said, "I'm like the aunt, and you're like the single father. And the aunt doesn't have to take care of the baby at nighttime and on the weekends, but the single father does. And it's not that the aunt doesn't care about the company, but there's some space and boundary in that relationship." And so that's actually our motto right now is like, yeah, we all care about this product and this company, quote, unquote, "baby," but there's always biologically intrinsically going to be a deeper relationship between me and this company, for good reason. And so that is going to require me to work harder and longer than anyone else, probably for a long, long time. And I had to be ready for that. My wife and I had to be ready for that. And so far, honestly, I've never been busier. But I've also never been...or, like, I've never had this ratio between busyness and stress where I'm really busy but not that stressed. And I think it's just because I love what I'm doing every day. I haven't ever found this happy balance where I actually just enjoy what I do. And I'm constantly excited about continuing to build the right product to help people. WILL: Wow. VICTORIA: I'm actually babysitting my niece and nephew this weekend. [laughter] My brother would say, "You need to be here on the weekends with them." IRFAN: Maybe not the perfect analogy. But-- VICTORIA: I like it, though. It makes sense. [laughs] WILL: There's a difference. [laughter] VICTORIA: Oh yeah. Will knows; he's a dad. WILL: Yeah. I know company values can be so...we have them. Do we follow them? Or sometimes they get put on the shelf. I was reading your company values, "People first, bias for curiosity, and dream big." For Frontrow Health, how does that play a role in the day-to-day? IRFAN: When Jakub, Nupur, and Anand had all joined like that first core team, we actually spent time writing all this out and creating a document that discussed what the company culture and values were. And we looked at different examples of other companies. Amazon famously has, I don't know, these 16 principles. And we kind of said, okay, we want to pick just a couple because you can't always focus on everything at the same time. And we need some sort of guiding North Star if you will. And so these were the three that we came up with, the ones that you mentioned. So we are people first; we have a bias for curiosity, and we want to dream big. So people first to us means that our mission like we talked about, we want to increase access to healthcare at home for the average American. And so every decision that we make at the company has to pass that litmus test first. Whatever feature we're building, whatever business model approach we're taking, whatever go–to–market approach that we're taking, is what we're doing going to increase access to healthcare at home for the average American? Yes? Then we continue onwards, and then we continue deliberating and deciding; if not, we pass. And so that is how we determine whether we can continue to be people first because that is our mission. And as we're going down that thread, we want to push ourselves to constantly be bettering and asking questions about how we can be better. That is the bias for curiosity. That was one of Everlywell's company values and was the one that I resonated with the most. I find tremendous value in asking questions. Nupur on our team, one of our engineers, is a great example of bias for curiosity. She's constantly challenging and asking the right questions. And that helps us be better at being people first and increasing access even more than we can because we're never settled with what exists today. And then dreaming big is about finding answers to those questions and not settling for the tried and true paths. Some of the greatest companies that have ever been created are the ones that invent new behaviors that have never existed before. So Airbnb, now all of a sudden, people are comfortable with strangers living in their homes. Uber, now all of a sudden, people are comfortable driving in a stranger's car. At Frontrow Health, we're dreaming big in a world where doctors are not currently engaging with their patients related to their home health and wellness journeys when they leave the four walls of their clinic. How can we change the behavior where doctors are more involved in that relationship in a way that doesn't exist today? And so that's a part of what we're trying to do, and dreaming big to go and increase access, like I said, is our ultimate North Star. WILL: Wow. You said something I think that was...it seemed very small, but I think it said a lot about you and your company. You said that you encourage your engineer to ask the hard questions. I think so many times, people hate the hard questions. They are fearful of that. But I think in your field, you have to be able to ask the hard questions. So that's amazing that you brought that up, and you're talking about that. IRFAN: Yeah. And it doesn't...it's not just me, for sure. I think my team is...and it's kind of you to point that out. But yeah, my team does such a great job of holding true to these values on their own and pushing me to remind myself of these values. Nupur actually is Slacking me right now about some thought that she had coming out of a meeting. WILL: [laughs] IRFAN: And two points about different alternative ways to think about things. And yeah, I want to keep encouraging them and our future employees to do that. Because you look at the worst examples in healthcare, in particular, tech as well, the worst examples of companies are the ones where the employees were not able to or encouraged to ask questions; that's when things go south. So Theranos is the simplest example of this where they were hiding everything from their employees, and people had questions constantly but never asked them. And that's when more and more bad decisions were made. So I don't want that to be the case for Frontrow. And so it has to start with, yeah, this bias for curiosity. VICTORIA: That makes sense. And I wonder if that's part of your success, being someone who doesn't have a background in engineering or programming specifically and enabling your technical team to build what they need to get done. IRFAN: Yeah. I can't honestly explain to you guys how much I've learned over the past six months from my product and dev team. And you're right that I think one could see my lack of programming as a weakness which, in a lot of ways, it is. But what has also manifested as a result of that is I have naturally had to lean more heavily on my dev team to be owners of decisions that affect our business and to challenge them to think about are we being people first if we build and design solutions in the way that you're describing? I don't know the right approach about how to build this, or on what tech stack, or in what capacity we have the ability to. You guys have to take ownership of thinking through those, solving those problems, and coming up with the right decision. And as a founder, that's scary to do. You're giving up control of the decisions to others. But at the same time, by giving them that autonomy and encouraging them to take ownership of it, they feel I think more and more invested in what we're building. And that hopefully builds the habit of what you guys were talking about around wanting to constantly seek better solutions, challenge because they know that they have a voice in how things turn out. VICTORIA: Right. Maybe you've discovered this naturally or through your education and background. But studies that are done around high-performing technology organizations find that no matter what processes or tools you have if you have that high-trust environment, you'll have better security, more software development throughput, all of those things. So I think you're doing it right by setting your values and creating that kind of high-trust environment. IRFAN: Super interesting. I didn't know that, actually, but it makes sense. [laughs] We've been seeing it. I actually want to give some credit to thoughtbot because thoughtbot helped us set a lot of this important engineering culture at the very beginning, where I had to rely on my thoughtbot engineers, folks like Jesse, Dave, and others, to help me make the best decision for my company. They taught me a lot of these things at the earliest stage back in May around, okay, like, you guys are a consulting firm at the end of the day, technically speaking. But they pushed me to think of it more as how do we co-make these decisions? Like, how do we leverage each other's strengths to make the right decisions? The thoughtbot design team and engineering team...one of our designers through thoughtbot, Steven, is so funny because...and I gave him this feedback, which is great feedback, which is like, he constantly asked questions. And if he hears this, he'll laugh because he's constantly pushing, like, "Why are we designing it this way? Why do you think it should be this way? Where is the evidence that the user wants it to be this way?" And it was a great setup for when our internal team came on because I just kept up that momentum. And then they just kind of took with it and ran. VICTORIA: How did you find us, or how did you find the right technical partners in the very beginning to help you build your vision? IRFAN: It was not an immediately simple process. But when I found thoughtbot, it kind of unraveled quite quickly in a good way. So I was working with Amit like I mentioned, who'll become our interim CTO, one of my classmates at HBS. And he helped me put together an RFP where we outlined all the different feature requirements, all the different intentions for our solution or timeline, our costs, et cetera. And I just did a lot of Google research about different dev shops, and I started talking to dev shops in lots of different locations, U.S.-based, European-based, Asian-based, Latin America-based, started comparing prices. We had questions where we wanted to see their creativity in developing solutions. We started accepting proposals, reviewing those proposals. I somehow stumbled upon thoughtbot's website during this process. And I noticed that Everlywell was one of thoughtbot's clients, Everlywell, the home lab testing company that I used to work at before business school. I was like, oh wow. I knew that our engineering team and our engineering leadership had a really high bar for when we worked with outsourced talent. And so I thought that that spoke volumes about choosing thoughtbot. And so then we actually ended up asking Everlywell CTO an unprompted question of like, "If you had to pick any dev house that you've known or have worked with, et cetera, that was supposed to build you custom software from scratch, who would you pick?" And he said, "thoughtbot." It wasn't even like a question of, what do you think of thoughtbot? Or, what was your experience? It was just like, imagine you had to pick, and, unprompted, he said thoughtbot. So that was actually what did it for me. And I kind of threw aside all the other logistical hoopla that we were going through and said, you know, I got to trust the people who I know and trust, and having verbal confirmation of that was huge. And then, of course, I enjoyed speaking with Dawn at thoughtbot, who was helping broker the whole discussion, and it felt easy. And their proposal was also quite strong. And then, as I dug deeper into thoughtbot, it became clear that no pun intended, you guys are kind of the thought leaders in a lot of ways. WILL: [laughs] IRFAN: It's funny, our head of design, Jakub, when I mentioned that he's a unicorn, it's because he also taught himself coding and programming. WILL: Wow. IRFAN: So he's like a pseudo designer and programmer. He can do a little bit of everything. And he actually...when I told him that we were working with thoughtbot, he was like, "Oh, I learned Ruby on Rails back in the day from thoughtbot with whatever content they had published back in time." And then, as I spoke to other dev shops about going with thoughtbot, they started saying things like, "Oh, thoughtbot, yeah, they're kind of the OGs of Rails and a lot of the core tech stack that's been around for a while." And so it was just continued validation of the right approach. And then, we started working with the team in May, right after my second semester of business school ended. And it's been an incredible process. We have never missed any deadlines, and we're actually two months ahead of schedule. And it's not just because they're good at what they do, but it's also because of the culture and the teaching me about the best way to run retros, and sprint planning, and things to think about in terms of trust in your engineer and building that trust, and all the soft, intangible things. It wasn't just like thoughtbot came in and built code. It was thoughtbot came in and helped establish the company in a lot of ways. VICTORIA: That's great to hear. Thank you for saying all those wonderful things. I'm sure me and Will agree 100%. [laughter] IRFAN: Yeah, it's been an awesome process. And yeah, we've even ended up basically bringing on as a full-time independent contractor someone who worked through thoughtbot because we love them so much. And they were just so excellent at what they did. And just, yeah, I think that probably speaks the most volumes about the kind of organization that you guys are running. WILL: I appreciate you saying that. That means a lot. It really does. I want to take a second to kind of circle back and kind of talk about how you find the providers because I think, for me, one of the most influential classes I had in college was my professor said, "Hey, meet me at the pharmacy." So we went to the pharmacy, and he started asking us questions. And he was like, "What medicine do you think would be the most impactful?" And we would try to pull it out. He taught us how to compare the active ingredients. IRFAN: Wow. WILL: Like how some stuff is just marketing, and it's not really helpful and things like that. But I also saw the side, you know, the amazing providers like your parents. You talking about your parents just reminded me of my parents and how supportive they are. So it's just amazing. You had your parents as providers. How did you find providers beyond that that you have to extend that trust to them? IRFAN: I guess two reactions. The first is how do we talk to doctors to get feedback on our solution as we're building it? And then how do we get doctors to sign up and use our solution with their patients? Those are the two chronological steps. So for the first one, we very liberally use a platform called usertesting.com, which we used at Everlywell, where I first got introduced to it. And it's amazing. We have the unlimited package, and we run tons of user tests a day. So, over the summer, we were literally having unmoderated tests from medical professionals, about ten healthcare professionals a day who were coming to our website, coming to our product, giving their feedback through these unmoderated tests. We were quantitatively assessing qualitatively assessing their responses to specific questions that we were asking them. Like, was it easy enough to write a review? What were you expecting to see? How did that compare to what you did see? Like, all the traditional kind of user research. They really helped us build the product, and then we were able to follow up with them, get on the phone with them, ask them more questions about their experience, about their current experience in their clinic, whether patients are asking them about these things, about their interest in certain supplements, et cetera. And then we actually had one medical provider, a family practice nurse practitioner from Vermont, who was so excited about what we were building. She was sending me all this other information and content about how to reach out to other doctors and stuff. And then, at the end of the summer, when we were just about ready to start getting our beta off the ground, we were going to choose one provider to work with who was going to recommend it to their patients, and they were going to slowly kind of monitor the experience. This nurse practitioner actually just happened to reach back out, and we happened to connect again. And she's like, "Okay, what are you guys up to? Are you guys done with your product? I really want to use it." And I was like, "Oh, wow. Well, it's great timing because we're looking for our first medical provider." WILL: [laughs] IRFAN: And so that's where we ended up launching beta with, which was awesome. And since then, I've been spending a lot of time thinking about the go-to-market approach beyond just one medical provider. How do we scale to thousands of medical providers? And luckily, selling to doctors is a solved problem, like; the biopharma and medical device industry has been doing this for decades. And so it was really just a part of me brushing up on a lot of the work that I was doing in life science consulting about helping Big Pharma and whatnot go to market and just stealing a lot of notes out of their playbook. So, for example, there are companies that allow you to run ads online that just target physicians. So instead of my dad seeing a Lululemon ad while he's reading The Wall Street Journal, he'll see an ad for Frontrow Health. And so we actually run marketing tests over the summer, towards the end of the summer, with a newer provider landing page that we had built to see what percent were going to click on the ads, what percent were going to come to the website and sign up, and then how much cost would that be per acquisition of a provider. And the results were actually much better than we thought. It was half as expensive as what we originally predicted, which is awesome. WILL: Wow. IRFAN: And that was before Jakub, our new head of design, had even touched the website. We're actually just revamping it right now because he's been going through and revamping other aspects of our product and marketing experience. And now we're at the provider part. So we're actually going to be just about a week or so away from launching the marketing tests and actually getting every day more providers on the platform. The product is now done, so they can start getting their patients on the platform. We just signed our first health brand. So now people are getting real product recommendations and getting ability to earn cashback. And we can be revenue generating, which is also super exciting that we're, like I said, a couple of months ahead of schedule, actually. VICTORIA: That's really exciting, and that certainly sounds like enough on your plate. But is there anything else on the horizon for Frontrow Health that you're excited about? IRFAN: Yes. We are super excited that we're just coming out of stealth mode and launching our full product experience for consumers, medical providers, and DTC health brands. Going forward into 2023, we're really looking to try to find this quote, unquote, "product market fit." Are doctors excited about signing up and getting their patients on the platform? Are those patients excited about the products that we're selling on our marketplace? And are we delivering new lifetime customers for these health brands at a more cost-effective rate than they've ever seen before? And solving that original problem that came to me while I was at Everlywell. And by doing all three of those things, hopefully, we'll begin to increase access to healthcare at home where people who are not suburban high-income folks who can afford to pay out of pocket for preventative healthcare; we can now make that more equitable by bringing down the cost through the cashback, by introducing the element of trust, by engaging with a medical provider, and by opening up people's eyes to thousands of different consumer health and wellness companies that now exist in the world that we want to be able to connect the right products to the right people with. VICTORIA: That's so exciting. I'm really glad we got a chance to talk to you today and hear more about your story. Is there anything else that you want to add before we wrap up? IRFAN: This has been super fun being able to even just reflect and think about our whole story. For anyone else listening who's interested or excited about entrepreneurship, there's a really good book that I read last summer as I started thinking about entrepreneurship for the first time called "The Hard Thing About Hard Things" written by Ben Horowitz, who co-founded the VC fund, Andreessen Horowitz. He was an entrepreneur himself. And it's one of my favorite books because, as the title [laughs] explains, it just talks about the difficulty of the experience and the journey that's still ahead of me. But I think the overall takeaway of the book and my experience over the past year is that it's just the single greatest learning experience of my life. And that's actually really all I'm trying to optimize for personally is I want to keep growing and learning, and learning about the space, learning about myself, learning about how to work on a team, how to lead a team, how to grow a team. And if you're at all interested in any of those things, keep trying to think about all the right problems that are being experienced in the world. And we still live in a world wrought with problems and don't have nearly enough founders trying to go and solve all of them. VICTORIA: That's a really great perspective, I think, to bring to it about your own personal growth. And that's what it's really all about. [laughs] And hopefully, we're able to solve some big challenging problems along the way. IRFAN: Hope so. WILL: You can subscribe to this show and find notes along with a complete transcript for this episode at giantrobots.fm. VICTORIA: If you have questions or comments, email us at hosts@giantrobots.fm. WILL: You can find me on Twitter @will23larry. VICTORIA: And you can find me on Twitter @victori_ousg. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. WILL: Thanks for listening. See you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Special Guest: Irfan Alam.Sponsored By:thoughtbot Incubator: thoughtbot is thrilled to announce our own incubator launching this year. If you are a non-technical founding team with a business idea that involves a web or mobile app, we encourage you to apply for our eight-week program. We'll help you move forward with confidence in your team, your product vision, and a roadmap for getting you there. Learn more and apply at tbot.io/incubator.Support Giant Robots Smashing Into Other Giant Robots

Kasha Stewart is the Director of Growth Engagement at Adobe Express. Victoria talks to Kasha about finding advocates that encourage her to chase problems, getting more women into product development and why it's essential to bring different perspectives into this area, and ways to bring connection between the end users and customers, engineering teams, and the rest of the organization to the business. Adobe Express Follow Adobe LinkedIn or Twitter. Follow Kasha Stewart on LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido and with us today is Kasha Stewart, Director of Growth Engagement at Adobe Express. Kasha, thank you for joining us. KASHA: Well, thank you for having me. VICTORIA: Well, I thought I'd start off by asking you to tell me a little bit more about your background and how you found your way to product from starting out in film and video production. KASHA: I originally started...I have a fine arts background and did a lot of digital story narrative, post-production. Back in the day (I'm going to date myself.), you had to do...it was a very manual process of chroma keying and removing backgrounds, or refining someone's skin, or some type of background. That was where I kind of...it was my bread and butter. I really loved it. It was creative. Then in 2008, 2009, the housing market crashed, and the recession happened. And I thought, you know, I'm not a homeowner. What does it have to do with me? I'm taking these freelance jobs. I had just finished my grad program. And then all the jobs kind of disappeared. And I was thinking; here I was; I had gone to grad school. I had a really specific skill set. And then everything just poofed overnight, disappeared. And I thought, okay, well, what's more stable? Like, what could I do to secure a little bit more stability in my job, career? So I started applying for jobs in all these very different tech, like, they wanted people to be what we used to call a preditor, like, a producer and editor, someone that knew how to do this but also knew how to like FTP massive asset files and also knew how to flag something for when things were going wrong. And so I thought, okay, well, let me just apply for one of these. I have some of the skills. I tick the box on some of the requirements. And there was a job...it was actually on Craigslist. I actually didn't even know if it was a real job or if it was a scam situation, but I applied. It had a very unusual title; I think it was content distribution editor. And I thought, okay, well, this is interesting. And it was for abc.com. And this is about 2010. I applied. They called me. I thought, okay, why is ABC on Craigslist? But never mind, it was a legitimate job. And I got into what we call content distribution, so understanding content management systems. And I would be the last person that would actually process the content that would then be delivered to Hulu platforms, abc.com, many different affiliates. There were also Verizon mobile deals at this time, where the cell phone carriers had their own television networks that they tried to stand up. In that process, I started to really learn about licensing, how content is distributed, meta-tagging, and then also the architecture of a CMS. And I just for the life of me couldn't understand why this was built this way. It was a very cumbersome tool. And like clockwork, around 11:00 p.m. at night, it would crash. And if you hadn't saved your metadata on a notepad or in a spreadsheet, you're basically starting over from scratch. And I remember asking all these questions, and they were like, "Well, it's proprietary software, and it was built in Seattle." And I was like, "Yeah, but did they ever talk to the, you know..." I didn't know the terminology like end user at the time. But they never talked to any of us that were part of this small team that had this really pivotal role of publishing the content. And I remember asking all these questions. I had a supervisor at the time. And he jokingly said, "Well, you should go into product management since you love to ask questions." I didn't even know what product management was. I was like, well, I'm on a producer's track; that's my goal. I have this film and narrative background. And a role came up internally, and it was for a product specialist. I would say I needed a little bit of convincing to apply. I had some advocates in HR that saw this role and thought I would be perfect for it. And I was like, I don't know, it has all this data analytics. And what does this have to do with people and storytelling? And they were like, "We think you should apply for it." And I made the transition, which is rare sometimes in corporate and internal transitions. But I did make the transition, and I became a product specialist. And I kind of dived deep in into understanding consumer products from a front-end experience. So before, it was more from a distribution and back end. And now it was really focusing on the UX flow, the UI. What are the targets? And how do we position the content? And then, what are our consumers saying about the content? So I did open up a whole new world for me. I went ahead, and I made plenty of mistakes. There were times that I was like, I don't know if I'm for this if this is right for me. And people definitely weren't shy then. They would tell me, "You don't look like a product manager." Or "You don't have that background of CS or data and analytics person." And I totally didn't, and I never sold myself as a false representation. But what I did have was I had this really strong inclination of really understanding from the consumer perspective. I always took it back to even in my own circle. And I think I'm an early adopter. I love technology. But I also have friends that are still using Yahoo or Hotmail. And I'd be like, "Oh no, you got to try Gmail, or what about Gchat? This thing came out. You have to check it out." And I would think...back when I was building out these products, and this was, to level set, this is around the time of Web 2.0. I would think, oh, well, how would my friend in New York use this? Or how would my mom find her content? Or, how would my brother... And I think sometimes we get very seduced when you're building something, especially as a product manager, that everything is from your lens and from your perspective. And the data and then also the feedback was telling us that we weren't really hitting it where consumers were. They weren't able to find the content as easily as we hoped. And from there, I jumped into kind of entertainment streaming platforms, building out architecture, CMS, and then eventually transitioning into growth-led roles and then leadership roles later in my career. And so I've had the pleasure of working for startups like Beachbody, which was a fitness company big in the fitness space but smaller on the digital perspective, all the way to going back to Disney leading a team at Movies Anywhere. And now, I'm leading a growth team at Adobe. VICTORIA: Wow, thank you so much. That's so interesting. And we have a couple of different tracks we could get into here. One thing I want to note that I thought was interesting is when you got into your new role, what really kind of presented itself to you is that you identified a problem in the UX. Like, you kind of lateral moved, and then you found this problem, then you had advocates who pushed you to go in that direction. And so, if you have advice for people who are looking to make that transition, how do you find those advocates that encourage you to chase the problems that you find? KASHA: Oh, that's a great question. People ask me this frequently because I think on paper, it is hard. And no one's going to find you in your cubicle...or now a lot of us are working remotely in our houses. So you have to be your best cheerleader and campaign manager. I also think, like, what is it that is on your top three lists? In product, we have nice-to-have, must-haves, and then we kind of prioritize or stack rank our work backwards from that. So I ask people, "What's the most important thing for your next role?" And then those are the things that you need to either lean in and start to amplify that you're already doing and how you would make a great candidate. I think internal candidates do have an advantage because they know the culture, or they may know the players, or they may see something from a different perspective, but they know what the company's challenges are. So I would start by first talking to your manager, and you can have a great manager or not-so-great manager, but start there. Show them that, you know, I'm on this track plan, but I really want to be here. Are there things that I can do in my current role that would support that transition? Are there people that you can recommend? And sometimes, you can get traction with your manager, but if you can't, then start to search within your network. And if there's a product manager who's maybe in your org or actually would be maybe at the same leveling or someone new, start to explain to them, "Hey, I would love to set up a coffee chat, a 15-minute informational just to hear how you did it or what's your perspective?" And constantly, as you're taking notes...people usually like it when they get an opportunity to share their story or talk about themselves. And as you take notes, "Ah, I am actually looking to transition to that. Do you have any advice for me? If you had something in an open role, what would you want from that candidate?" And so you're constantly planting those seeds of like, I am this candidate, here's why. And product managers and, I think, also hiring managers, we have a room full of distractions. But if something's laid out to me in concise language and it's showing results of like, oh, well, I did this on the content management side, and I think this would be transferable, and here's why. And you don't have to be long-winded. I'm not into people writing dissertations and producing 20-page decks. I don't always have the time to read that, as lovely as it sounds. Drive in on your skills. How are they relatable or transferable? And then, what are the goals that you've been able to achieve in your current role? And what are you looking to do in your next role? And I think if you start to place yourself there...and definitely get out and start talking to people in your employee resource groups. And then also, internally, there's always, at some companies, there are HR or employee resource groups that will have at least a blog post on how to transition within the company, and if they don't, search out those people. And it's not an overnight process. I've seen people where it's been a flip of the switch, and they're on a rocket. And I've seen other people where it's taken time, but they've built those rapports with people that started to get to know them outside of their current role. VICTORIA: That makes a lot of sense. And you're also involved in many professional networks. And so, do you also get a benefit for your career growth from that? KASHA: Yes. I feel like I never stop learning. As much as there's always something new coming out, I mean like now I'm into the chatbots and AI. And I'm like, okay, here's another thing I got to learn. Let me [laughs] add this to my to-do list. So I never want to take that for granted. So I feel like the communities kind of keep me, you know, it's a temperature check of what's going on, either from a challenge perspective or what type of new technologies people are integrating into their existing platforms, and how it's actually growing or benefiting them, whether it's from a machine learning and building out recommendation engines that have saved time, and then actually gets smarter. And we're building out algorithms all the way to, you know, what would it be like to have AI enhancements on an existing platform and still help drive that high-value consumer experience? So I don't take for granted. I also recommend people that, even if you're not in product to, join product communities so that you start to hear the language and you start to see how product managers think and how hiring and leadership think. And LinkedIn is a great resource. I belong to Women in Product, Black Product Managers. There's a slew of Tech Ladies. And I'm always kind of looking. There are newsletters that I love, Lenny's Newsletter. And I'm always like, oh, that's a nice one. Let me take that away for my team, or, oh, I didn't actually see that. I didn't think about that. I didn't see that playing out with NFTs in that way; hmm, really interesting. Or that TikTok is taking over search. And now I'm like, okay, how can my product that I'm growing from an engagement standpoint also have really strong representation on TikTok in a way that's authentic and users can find us, and we can continue to engage with users that way? Start small. Find the right community that works for you. There's also Product-Led Growth, Product Alliances. There are so many of them. And I think you just start to kind of join them if you can. Some of them are free, some of them have dues. And they're really worth it. It's a value add. And you never know who's going to be posting in these Slack community groups too. You might see something where they're okay with associate level or okay with someone transitioning, or looking to help someone transition. And I often mentor and direct some of my mentees in that direction so that they don't feel like they're in the passenger seat of their career and waiting for something to happen. You have to be active in this pursuit. And you also have to be a driver in it. VICTORIA: Right. I felt that myself in my career. I felt like my network was my number one source of learning like you said. And also, when you're considering a career change, sometimes you don't even know what else is out there or what other types of jobs are out there. [laughs] I love what you said about that. And you also mentioned Women in Product and Black Women in Product. How can we promote those groups more [laughs] as we get more women in product? And why is it important to bring a different perspective into product? KASHA: Yeah, that's a great question. I mean, I think podcasts like this, you know, letting people know. And then also, when I do a post on LinkedIn, I do the hashtags of all the groups that either I belong to, or I might tag them. One thing that I do when I do start to mentor someone I say "Be active in the community, share your voice. You're going to start to get comfortable." Product managers have it...it's not a career for the weak, I'll say that. [laughs] And you have to have an opinion, so start small and start promoting yourself in those groups or hearing what people are saying. And even if my company is hiring or someone else, another hiring manager, and it has a post, I'll say, "Oh, did you think about posting this or adding this hashtag to this? This would definitely help give you a different type of candidate and also get more traffic." And it's important to me because if I think about the world population and how we're changing, and who's showing up, you want that representation of the people that are working on it. They're going to be thinking about it from a different lens that I didn't even realize that that was an issue or oh, wow, we need to really tap into that. Or actually, we should promote this in a different way because we're going to cast a wider net, or we're going to cast a really specific net. With this demo, it can grow by 10x. Versus us thinking very generally and saying, "Well, we're happy with a 2x growth." So that's why it's important to me. I'm also always balancing, like, do I have enough representation of women? And do I have enough representation of men on the team too? I don't want to go one side too far and then I'm out of balance and I'm just hiring the same people that are like me. It is kind of challenging sometimes because I have to think about what does the team need? What is the team dynamics missing? And who is that person that can bring in or usher in that different perspective? And then also work cohesively with the existing team. And so that's a lot of balancing act that I do in my current role and really thinking about okay, well, we're serving small businesses. We're serving social entrepreneurs. Has anybody ever done that? We can be very kind of elitist in tech, especially in product of, like, well, I do it this way. I've [laughs] got Discord, and I have all the NFTs that I've ever wanted to collect. And I can hear and listen to all that, and I can geek out. But then I'm like, if I go back to my friends, they'll be, "Kasha, what are you talking about? Can you speak English to us?" [laughs] And they'll be like, "Can you please calm down?" And I'm like, "Oh, but there's this thing." And then I'm like, well, maybe I need to have someone who is not like me because they're going to be thinking of that person who really just has a simple task they're trying to solve for. They have a limited amount of time, and they also have limited patience. They're not in a place where they want to learn and go on YouTube and watch a tutorial. They're really just, you know, "Hey, I need to get this birthday card or this invitation out for my kids. And this was a free product that I saw from SEO results, and I'm here." And that's the value in finding that person and then carrying them through a journey. Me, I'm going to be picky. I'm going to probably research. I'm going to look at reviews. I'm going to look at two other competitors that I'm going to start to line up. [laughter] And then you've lost me by that point. You want to get that person, and you want to make it a frictionless experience. So I do encourage, when I'm building teams, to think about the dynamics, always going for people that are, you know, want to be there and that are really dedicated to the product but also bring a different perspective than I did. And I come from an untraditional background in tech, so I think that's probably why I'm so conscious of this and how we can make these changes. And I think, historically, or the data proves that diverse teams often excel faster and better than traditional teams. VICTORIA: Right. And teams that are diverse and are in an inclusive environment where they feel like they can bring their authentic selves. KASHA: Correct. Yeah, it's one thing to have diversity, but then it's also another, you know, the counterbalance of inclusion. And how do you set people up for success that have different backgrounds? And I have a great strong team of rock stars, as I say, but they all are different. They all need different things. They all have different kinds of needs from a coaching or leadership perspective. Some I'm more hands-on, others I'm hands-off. But as a leader, it's being perceptive of that and saying, okay, well, this person likes to run their own ship. I'm going to be here on the sidelines. And this person I'm going to be out front. I'm going to be walking with them side by side. I don't know why I have all these sports analogies because I was terrible at sports in junior high, in high school. But I always feel like I'm this coach out here with a whistle and a clipboard. And I'm telling them I'm like, okay, I'm going to set this person up. This person is going to happen here. And that's how I look at it from a growth perspective. When I'm really assessing the roadmap and the backlog and what's going to be our impact, I'm also thinking about, well, how is everybody working cohesively? And is there a way that we can have shared experiences so that that way, oh, we learned from such and such an experiment, and that's going to influence the other half of my team? Or, actually, I'm going to have them focus, or I know that we're going to have too many mobile tests at the end of Q2 because the monetization team is also trying to test something very similar. So it's a constant juggling act in my role. VICTORIA: Right. I very much relate to that. I was a competitive rock climbing coach a few years ago on top of my full-time job. KASHA: Oooh. VICTORIA: And my kids would ask me if I was also a motivational speaker [laughs] because I was always pumping people up while they're climbing. So yeah, I find it fascinating how you think about the needs of your team and your own growth from an individual contributor into a leader. And how do you coach people in your team along that path, like making that transition from being really strong in product to managing a team of product people? KASHA: Oh, that's a great question. And I love that you're like a rock climbing...I love that. I'm like, [laughs] what we call thumbs. I would just be looking; I mean, just thinking about rock climbing, my hands are probably getting sweaty right now. [laughs] And for my team, I do have people that they're getting to a senior PM level, and they're like, "What's next?" And I really like to do an assessment of, like, "Well, what do you think is next? And what is really going to help your career growth?" And some of them are like, "Well, I want to do leadership. I want to do this." And I ask, just like I ask in any product question, "What's the why behind that? Is it a financial contribution? Is it a recognition? Or is it that you are really invested in people development?" Because one thing I do like to preference, especially people that are in early or mid-level careers, is that managing a product versus managing people are two different skill sets. And I didn't even understand that when I started to get into management; I kind of fell into it. I had a leader that exited the company, and it was like, "Oh, gosh, what will we do next?" And I was just like, "I think we should still continue to pursue the roadmap [laughs] is what I would think to do first." So one of the things I do say is that your work is going to change. I don't PM, and I'm not regularly with the engineering team on a day-to-day basis. And so I will say to the team that first, at certain points, you can balance it. You'll have both where you might own still part of the portfolio, but then you have maybe one or two direct parts. But as you start to grow, you will start to transition out of the day-to-day or building individual features or initiatives. And I do ask my PMS, are they ready for that? And if they check all the boxes and say that they have a strong why, then I start off by, okay, well, let's see if our team is eligible for an internship. We're going to open up an internship this summer, and instead of this intern reporting to me, they're going to report to you. What's your onboarding plan? What's your growth strategy for this person? And then, what do you want this person to accomplish at the end of the internship? And it's a baby step for them to kind of get their feet wet on what is it like to lead someone? And then also, what are the challenges? There's always a perfect storm where things go great. But what about the times when things are not going great, and how do you communicate with that person? What are the nudges that they need to give for them to either redirect them, or what are the things that you need to do to kind of show them the happy path to success? So those are where I start. We have international teams and people onboarding. I work for a huge company, so there are more opportunities there. But then I will also say if someone wants to drive and be in a leadership role, what are the mentoring opportunities within the company? So, how would you mentor somebody? And what would be your advice? How do you set up a weekly cadence? What are your expectations of this? How should they measure success and goals? All these are things that are going to be transferable when that opportunity comes up. And then also, too, what is the right situation? Is it a mix of where I'm 50% IC and then I'm, you know, this other 40%-50% of people management? I encourage them to look at opportunities internally, even if I'm at the sacrifice of losing what I call one of my rock stars. I know that it's inevitable for people to grow. And I never want to be the person that held someone back out of jealousy, or fear, or my own insecurities. And I do have a strong network that when I post something, I get so many candidates. It's almost to the sense of like, wow, this person is greater. Wow, this person...wow, they went to Stanford, and they did this, and now they're transitioning. And I'm like, oh my gosh, they want to work with me. And so that's always very exciting. So I never want to get so trapped in the ideology that the team is only great with these people. I'm like; the team starts with me and my leadership. So I need to be able to build a team. I need to be able to grow a team. And sometimes, you might have a great talent pool, and other times you don't, and then what do you do in those? I mean, that's what leadership really is. It's not always when you have everybody applying for your job, and you have all this funding, and your P&Ls are going incredible. It's those times where they come back to you and say, "Yeah, we're not going to get that done this sprint, so you'll just have to figure it out." Or someone's resigning that you didn't see coming. And then you're like, okay, I might have to roll up my sleeves and take over their part of the roadmap just as a stopgap till I have someone. And that's the things that can make or break your leadership. VICTORIA: Yeah, it's easy when everything is going great. [laughter] KASHA: Yes. Don't we love that? [laughter] Mid-Roll Ad: As life moves online, bricks-and-mortar businesses are having to adapt to survive. With over 18 years of experience building reliable web products and services, thoughtbot is the technology partner you can trust. We provide the technical expertise to enable your business to adapt and thrive in a changing environment. We start by understanding what’s important to your customers to help you transition to intuitive digital services your customers will trust. We take the time to understand what makes your business great and work fast yet thoroughly to build, test, and validate ideas, helping you discover new customers. Take your business online with design‑driven digital acceleration. Find out more at: url tbot.io/acceleration or click the link in the show notes for this episode. VICTORIA: You mentioned a few times, switching more into your approach to product management about the experiments that you run. Sometimes those go great, and sometimes they don't go so great. So can you tell me about a time you ran an experiment, and the results were really different than what you expected, and what did you do from that? KASHA: Oh gosh, yeah. There are so many. I'm trying to think of what's the best example. Gosh, I'm like, do I go for mobile? No, web. [laughs] Well, I think in growth, a part of your experiment should fail because if they're not failing, that also means to me you're not taking enough risk. And you're taking things that you already know, in some ways, are like low-hanging fruit, and you're very comfortable in it. And I do encourage my team to take a big risk of how do we start to find something? We recently had something to help users on the AI side. It was a really unique feature. A user uploads an image, and AI automatically spits out templates with this user-generated content. And we were so excited. We were watching the demos, I felt like on replay, you know, as we got out the meaning. It didn't necessarily do what we thought it would do. And so then we had to take a pause, like, what happened? And one of the things that we learned from the test is that people just didn't understand what they were supposed to do. They didn't understand the process of their workflow. And they also weren't engaged with what the results came back. So I think that's one thing that, you know, I know there's a lot of chatter in the space about AI taking over and where are we going to be. And I still think we need to have that human perspective, that person that is like, hey, these search results are really not what the consumer is looking for. And yes, it solved a requirement of picture upload output, but the output is not matching what the consumer's needs were. It didn't solve their problem. And we have to constantly continue to filter and refine the algorithm. So our first output back was not great. But what we learned is that we have to have more variety of the type of output of content and that we also have to do more hand-holding. As much as we think that people are going to dive right in because it's in the press, and it's in TechCrunch and on Verge, that is not our general population. I can talk to my girlfriend; she's a doctor. And she's like, "Hey, I'm just really trying to do this for my local women physicians network." All this other stuff, she's like, "It's kind of overwhelming to me." And I didn't even see that. I was just like, "Aren't you excited that you have five options? She's like, "No, I just kind of needed the one thing with the squiggly backgrounds [laughs] and the template that I could alter." She's like, "These don't actually really speak to me." And so we had to come back and re-define the algorithm and also think about less choices for people; as much as we were like, we can randomize it; we can output more types of templates. It's really about finding the cues that the user is giving us to find that right match, and it's not something that I think we're going to get...and knowing from the test, we're not going to get on the first try. We're going to continue to test this, and that's what's going to make it better because we stress-test it. I mean, in growth, sometimes, I tell my team, like, don't get our hopes up, our hearts set into it because we can spend a lot of time in crafting the experiment and doing the 50% and then the other 50% control and variants, and then when it comes back, they're just not excited, or the consumer just didn't really gravitate or attach to it. And so then we have to stop, and I think, okay, there's a lesson here. Is it the education? Is it the guidance? Isn't the language that we use? You'd be surprised how one word can throw off someone's context. And they're turned off, or they don't want to do it. Or they like, "Oh, this is kind of cool. Oh, I didn't realize that this was a free service." Or, "Oh, I didn't realize that I could save this, and it's removing the background for me. And then now I have all these options." Growth is a hard challenge. I mean, we move so fast, which is what I love, but then we're always kind of looking at the data and having to constantly pivot and transition based off of our previous tests. [laughs] Now I'm thinking about a time when I was at Beachbody, and I was so excited because I got to do native app development on mobile platforms, and I'd never done that before. We were all excited. We had an iOS product that was really strong. And, of course, many of the people that worked in the office were all iOS users. So they weren't even thinking about Android. And we had just missed the mark as a company not really focusing on building out a great Android native app experience. And we were just kind of relying on the mobile web experience. And I remember thinking like, oh, okay, well, you have something. And then I went into a Facebook community group, and I just saw all the complaints. I saw all the people's frustrations. I saw also all these user-generated hacks. People were sharing what to do when your video stops. And I just was like, oh my gosh, we need to get on this. And so from that experience, I was able to champion and be one of the people that was like, hey, we need to help drive this. On Android, we need to really, like, this is really a problem. We could set ourselves up for success. And then we can also grow in other markets outside of the U.S. And I remember looking at the first designs, and they were all done by our creators' team, which were iOS users. So even in that situation, I think of that as more of growth internally versus putting something out user-facing to the consumer. It still was a challenge. Like, how do I influence? How do I show that this is not the right path? How do I show that, hey, we're not using material design or best practices, and this is going to hurt us in the long run? Because people that are on these platforms on Android they're used to seeing things in this manner. And we're presenting it to them in another way, and then now we're wondering why they're confused. VICTORIA: Right, right. And you mentioned a couple of different tactics to connect to that consumer voice. What other ways do you try to bring that connection between the end user and the customer, to the engineering teams, to the rest of the organization, to the business? KASHA: I'm very privileged in my organization. We have a really strong user research team as well. As we're doing our experiments, depending on how large or how much time we'll invest into an experiment, we will do a prototype kind of test in a smaller pool, let's say, before we go out to A/B test or have a controlled and variant situation. And sometimes those are the little things that I can take back, a video, or likes, comments, and send it. I don't even need to wait for it to be polished into a presentation or to a Confluence page, or even in Jira. And I can say to my counterpart, "Hey, Ganesh, do you see this? This is what I'm trying to solve for." And then it's like that aha moment. And I can say, and, you know, and engineers are always delightful. And they'll say, "Well, that's only one data point." And I'm like, "Yes, but it is a significant point. And I think if we tested this more, we will see more people are struggling with this." And how can we change that? What are their solutions? And I'm really big on collaboration. Product owns kind of the deliverables and the path and is accountable for the results. But this is a joint effort between design, between data and analytics, and engineering. So early on, I present the problem. This is the why; here's kind of our best path. But what do you think? And that to me and my career has always yielded such a higher result instead of coming from an authoritative or dictatorship of, "Well, this is the way that I've envisioned it. Here's my mocks, here are my wires, and this is why," and then kind of leaving it out to pasture or throwing it over the fence and saying, "Okay, and I need it in a week and a half." And I've been on both sides of different product teams, and different engineering teams work differently. But I have found that when you get people to buy in, to care, and then also give them that consumer value of that person is frustrated; I mean, that's what was the trigger for me when I went into the Facebook groups. I really didn't have the biggest inclination that we were having such a problem on Android. I was an iOS user. I was happy with the product; I could get my workouts in, or I could find what I was looking for. And then, when I did that, I started screenshotting. And then, I started to share this out in the Slack channel. And then there are also ways...now we have so many things where you can have bots that will record the feedback if someone says something in the App Store. That's one way to kind of bring it up to people. And then, if you don't have the funding or have an in-house user research, there's always usertesting.com. That is one way that you can start. Even if you work with design, and you guys are a small team, "Hey, I am so committed to this working. But I really would love to run a test." And then also running a survey after people test or even in product, you know, what did they think about the experience? And if you can't even get that, you can always do thumbs up, thumbs down. [laughs] You can always do is this a four-star experience or a five-star? Would you like to tell us more? I would say that sometimes we have blindness to surveys and to people asking for our opinions because you just want to get to that thing. But that small sampling of people that do respond, I think, is a way for you to kind of, if you're not sure, think about this directionally. I was leaning more towards this, but, wow, this user research came back, and I think people are going to really appreciate having this extra step. Which is something like an oxymoron for me because I'm always thinking about, well, what's the easiest path? Or what's the least path of resistance to getting the user into the experience? And then sometimes you're dropping them into a whole new what we call canvas or experience, and they have no idea what to do. VICTORIA: I liked the way you described your approach or how not to do it was like, just throw things over a wall [laughs] and say, "This is the way." KASHA: [laughs] Yes. VICTORIA: One of my questions that I like to ask people who have design and product backgrounds is just what does product design have to do with DevOps? KASHA: Yeah, so everybody has to have a starting point. And a lot of times, I was definitely a product manager when I was more in the day-to-day, and I see where...in my mind, I like to figure things out on my own. And that way, I like to come with this pretty package of, like, I thought of all the different angles. I thought of the best use case and the worst use case. And as much as that was delightful for me, I noticed that the people in engineering would kind of check a box too, and they'd be like, okay, done. And then we might get to a certain point, and they would be like, "Oh, well..." one time when I was building something for Beachbody, and, again, it was on Android, and it was the search. And I didn't think anything of it. I was just like, oh yeah, top result, then stack rank alphabetically. And then I hadn't thought about new content. And I remember thinking, like, why didn't my engineer say this? Because this is something that we do on iOS. And they said, "Well, you never asked us." [laughs] And I was there, you know, "But you work on the product too." And they're like, "Oh yeah, but you run the show. So this is what you wanted, so this is what I coded." And I just remember feeling like I had egg on my face in a meeting because now we had all this new content coming out, and the search results weren't accommodating for new content. They were accommodating for the existing metadata. And I just remember thinking like, never again. And from a DevOps perspective, I think of there's a lot of change in the industry where we also have product ops people as well. And I think of it as additional layering; it can be good and bad. I think there are positives and advantages. I think there are always growing points. And I think you have to give what is the ultimate goal? Like, if you do have a DevOps team, are they also early in the iteration? Are they part of the brainstorms? That's how I run my small pod. We have design, analytics, and engineering part of our early brainstorms. So instead of us kind of holding our ideas in a huddle, we will kind of tee up, let's say, our top five and say, "Hey, directionally, this is the direction that we're going." And we're framing it to the problems that are most important for us to solve. So we don't turn it into a hackathon where people are trying to build a spaceship in a brainstorm. That's not the goal. The goal is that, hey, we have these particular problems. This is the direction that we want to go in, and this is how we carry it through. And then, what do you guys think? And then we're in a Miro board in real-time. And we put the timer on and then get everybody's opinions. And some product groups I've seen where product team doesn't actually talk to the engineering. They just talk to the technical PM, which then translates out what the actual specs and requirements are. I haven't been part of that type of org yet in my career. I have been traditionally where it's a one-to-one ratio where if there's a product manager, there's going to be a data and analytics analyst assigned to them. There's going to be an engineer assigned to them. There's also going to be a designer. And that's been my sweet spot. And I've had a lot of gains and tractions for that. In my mind, ideas can come from anywhere. It doesn't have to start with product, but product is going to be the leader. And I don't want to think of it as a gatekeeping situation. But we're the ones that are going to drive it through with our own cross-functional teams as a partnership. So I hope that answers the question about DevOps; I'm not sure. Sometimes I can get into a little bit of a tangent [laughs] and start talking about my own experience. VICTORIA: I love talking about it because some product, people will say nothing. [laughter] KASHA: Oh really? VICTORIA: And I'm like, no, you're supposed to talk to people. Bring everybody in, and that's the whole philosophy of it. And I like that you mentioned product ops and design ops as well, thinking about how you can automate the process of what you're doing or how the information flows across your team. I'm sure with your designs and end product, and everything is more on the product ops side. KASHA: And I think having an ops, you know, it does have like one central point of contact. So if you want to think about alleviating steps, or reducing the white noise, or the friction that you may have in the organization, you have one kind of point of contact. And that person will own it, and they'll almost become a mini pod and then distribute the information, which is definitely like a gain and a positive. I just wonder on the reverse side, though, how does that engineer or how does that designer then surface, "Hey, what about this?" Or "I think this is a better way," or "Actually, we tested this two years ago, and the results weren't great." And so that's the only thing where how does that two way-communication go back and forth when you have ops? I think ops definitely gives more structure. You're definitely in a high performance. Everybody knows what their marching orders are. We know who's on first. And we also know from an accountability and an escalation process where all these pieces are working together. So I can see the benefits to it. I'm not opposed to it. I just want to make sure that the people that are actually building the product also have time to have a say and have an opinion. And whether that helps change me, I want to at least hear the feedback first. And then as a product leader and as a product manager, it's up to that person to make the decision of, like, okay, you know what? I've thought about this looking at the data, or this person raised a really significant point that I hadn't considered. I do think that we need to think about this and focus. That's the advantage for me, I feel like, of having that bottoms-up approach to development and then running your teams. VICTORIA: I think that makes sense. And you're right; I think it can be successful. But I think there's a good warning there about...and people do this with DevOps teams as well where they create a DevOps team and then put them in a silo, right? [laughs] KASHA: Yeah. VICTORIA: And that's kind of missing the point about the whole thing. It's like we want to power these people. KASHA: Yeah, everything new is old again. I remember when I didn't even talk to an engineer. And I remember...and this was early in my product when I had the product specialist. I would be at my cube writing requirements. I thought they were great. And then we switched to an agile format, and I remember going into a meeting thinking, okay, we're just going to go over the stuff that's next. And they had all these questions for me, and it terrified me. [laughter] Because it made me think, like, maybe I don't know what I'm talking about or, yeah, I didn't think about the error messaging. Oh, okay, yeah, what happens if someone loses internet connection during that session and they've started the process? Oh, I don't know. What should happen? [laughs] And so there were all these kinds of questions. But before, I would just process my requirements, put it in a Jira ticket. And then you might get some Jira comments, but there wasn't this back-and-forth in real-time. And then, I had to really step up and write my requirements better. Because at that point, I had just had like, oh, this happens in check one. This happens at step two. And then step three, the end. That was my own kind of naive perspective at the time when I was writing requirements. And I didn't know that the engineers had all these questions because we had that layer of...they didn't call it a DevOps person. I think they called it, you know, an engineering lead where he would just take the tickets, and then they were doing their own sub tickets to make it make sense. And so then, when we started to transition into more of an agile and rating things and giving value to them, I really had to change. And it helped me grow. And it was definitely uncomfortable. But it definitely pushed me into thinking, okay, someone's reading this. They're an engineer. They're not thinking about this. How can I get as clear as possible but also still think about the consumer or the persona that I'm thinking about that is trying to solve this problem? VICTORIA: That makes sense. It reminds me of one of my first jobs actually was in Washington, D.C., which you went to undergrad there. I would actually pass by Howard University on the bus every day to work. [laughs] KASHA: Oh wow. [laughs] VICTORIA: I wonder, are you familiar with BisonHacks and their annual hackathon that they have there? I know you're from the film department. But the computer science does a hackathon there every year. KASHA: I am not familiar with that specific one. But I participated; I mean, we have some at Adobe. We have our regular hackathons internally. But I would love to hear more about the one that you're describing. It sounds pretty fascinating. Do they have an ultimate goal? Are they building from an existing product, or is this something new? VICTORIA: I think it's something new. So I believe that they come together to create solutions to help improve the livelihood of the DMV community. KASHA: Oh wow. VICTORIA: So I think every year they make it a different purpose. KASHA: Okay, I got it. VICTORIA: But they interact with students and do different projects. And it's a super fun organization. So, yeah, I'll send you a link. We'll share it in the show notes as well. [laughs] KASHA: Yeah. I love it. I love it. This podcast I'm already growing [laughter] in the short time we've talked, so I love that. VICTORIA: And we're coming to the end of our time here. I have one final question before I ask you if you have any other final takeaways. [laughs] But what are you most excited about on the roadmap for Adobe Express that you have coming? KASHA: Well, I'm excited...gosh, what can I share? [laughs] I'm like, I see legal tapping me on the shoulder. [laughs] I'm excited that we are making so many improvements to really simplify the experience and that we're also diversifying our use cases of the types of people that will be coming to the platform. So when I say that, let's say we've been focused on what we call the social creator, or the small business owner, or hustler, I really want to lean more into that and expand that. We also have more of what we call our pro users coming to Adobe Express. So if you think of someone that's a professional graphic designer that may need something where they need to have a collaborator, we're enhancing that process. And then also, I'm most excited coming into 2023 is that Adobe's Express is going to be what we think of as the doorway to all the Adobe ecosystem. So whether you start with Express on a small scale and building out a template, you can really grow with this product. And whether you use it for your everyday either social needs or even in your everyday work or marketing, you can start to have people come to the platform and collaborate on it. We have so many exciting things that it's interesting because my team is focused on activation and repeat engagement, and how do those two worlds kind of marry each other? Getting the user in from having them on a first great day one experience and then carrying them through for when they return. And one thing that I'm excited for is that we've had this recent pivot, and this came out of user research. We don't have to wait for the user to leave the platform to remind them of all the great things that we can do. And I'm really excited about having machine learning capabilities on the platform; where, if your next step is this, what's the next best available action? And then how does that help enhance not only your experience of the product but then also starting to plant those seeds of you can schedule this in advance or creating this type of content once a week will drive exponentially your growth on your platform? And that, to me, is making us stronger and really looking at it not only from I want the consumer to do these series of high-value actions, but I really want to see them grow on their own personal platform level. And here's a tool that can help you do everything that you need to. And whether you're someone that posts once a week, or whether you're someone in an office that is collaborating for a marketing meeting, or if you're a professional that has something that, you know, I just really want to use a template. I have an aesthetic. I know how to use Photoshop. I know how to use Illustrator. But let me put this in Express. I can send it to the client. They can make comments, and then they can also feel like they're part of the creative process. That makes me happy because I was this fine arts major. It feels like 100 years ago. [laughs] And I remember thinking like, oh wow, I love these products. They're expensive, or saving up for them. And then now there are so many different plans. There are so many different ways. And I would have loved an opportunity to have a free product that allowed me to just start to understand my own type of style and capabilities without having this feeling that I have to be a designer and that everything has to be perfect. So I'm excited for that. We have so much growth planned, new, exciting ways on the platform. And, also, you'll see some new looks. I can't share too much more than that. [laughter] So I hope the little bit of tidbit doesn't get me in trouble. But sometimes you got to break some rules. You got to break some eggs to make an omelet. [laughter] VICTORIA: Any other final thoughts for our listeners today? KASHA: I would love for, you know, to give me feedback. I always love doing these. I'm active on LinkedIn. You can find me at Kasha Stewart. Shoot me a note. I get a healthy amount of mail, but I promise I will reply back to you if you have questions and what your biggest challenges are. Check out Adobe Express. It's free, by the way. And continue to, you know; I just remember being this, like, early in my career and having these questions, and at different points, I was afraid to ask questions because I was like, I don't want to sound silly. Or maybe I'm not understanding that, or, you know, maybe I should have been a CS major. And I say to people now, like, you have to have a starting point. You never know what is next on the horizon. Or that everybody had been thinking about that and they were just waiting for the person to raise their hand. That's one of the things that I always want to encourage people and to check out these products, communities. And thank you to this podcast for allowing me to share my journey and my story. It's always a pleasure. I learned something, and I'm like, oh yeah, I did actually do that. But that was a while ago that; I might forget. So it's good. It's like having my own little mini retro. So I thank you for inviting me here and to, you know, share my journey. VICTORIA: Well, thank you. That's a very powerful message, and I appreciate you coming on today to share it with us. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. You can find me on Twitter @victori_ousg. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thank you for listening. We'll see you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Special Guest: Kasha Stewart.Sponsored By:thoughtbot: As life moves online, bricks-and-mortar businesses are having to adapt to survive. With over 18 years of experience building reliable web products and services, thoughtbot is the technology partner you can trust. We provide the technical expertise to enable your business to adapt and thrive in a changing environment. We start by understanding what’s important to your customers to help you transition to intuitive digital services your customers will trust. We take the time to understand what makes your business great and work fast yet thoroughly to build, test, and validate ideas, helping you discover new customers. Take your business online with design‑driven digital acceleration. Find out more at: url tbot.io/acceleration or click the link in the show notes for this episode.Support Giant Robots Smashing Into Other Giant Robots

Lauren Makler is Co-Founder, and CEO of Cofertility, a human-first fertility ecosystem rewriting the egg freezing and egg donation experience. Victoria talks to Lauren about tackling the access issues around egg freezing and donation and hoping to bring down the cost, leaving a company like Uber and starting her own business, and figuring out a go-to-market approach and what that strategy should look like. Cofertility Follow Cofertility on LinkedIn or Twitter. Follow Lauren Makler on LinkedIn, Instagram, or Twitter. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is The Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido. And with me today is Lauren Makler, Co-Founder, and CEO of Cofertility, a human-first fertility ecosystem rewriting the egg freezing and egg donation experience. Lauren, thank you for joining me. LAUREN: Thanks for having me. I'm so excited for this. VICTORIA: Me too. I want to hear all about Cofertility. Can you tell me a little bit more about the platform that you built? LAUREN: Absolutely. Cofertility is really like you said; we're a fertility ecosystem. And at our core, we're enabling women to freeze their eggs for free when they donate half of the eggs retrieved to a family that can't otherwise conceive, providing support and education for everyone involved along the way. You know, we're serving two very different audiences. One side of our business, our Freeze by Co, is targeted at women between the ages of 21 and 40 who might be interested in preserving their fertility. We know that really the best time to freeze your eggs, unfortunately, is when you can least afford it. And so we've really taken on this access issue and hoping to bring down the cost on that front. And then our Family by Co business is for intended parents who need the help of an egg donor to have a child, so that could be anyone from people who struggle with infertility, or gay dads, cancer survivors, et cetera. There are a lot of people that really rely on third-party reproduction to have a family, and we think it's time to really move that industry forward, and we're doing that in a lot of ways. So that's at a high level; happy to dig in more on any part of that. But we launched in October, and things have been going well ever since. VICTORIA: Wonderful. Yeah, I want to ask you more about...you mentioned the problem that you identified with when people who are most ready to freeze their eggs probably can't afford it. [laughs] But how did you really identify that problem and think I should start a company around this? LAUREN: Yeah, so it's a two-part problem. I think we see a big problem on the egg-freezing side, which is truly cost. I think we know that women are starting families later than ever. For the first time in U.S. history, the average age of women giving birth now is 30, which is the highest on record. And the experimental label from egg freezing was removed in 2012, and so it's become much more mainstream for women to do it. However, the cost to do it in the U.S. is between; I want to say, $12,000-20,000 to do it, plus yearly storage fees. And there are some women who have access to doing it through their large employer, but for the majority of people, that's just not the case. And so, for women who are really trying to prioritize their career or their education or maybe haven't found a partner yet, egg freezing can be a great option. And certainly, it's not an insurance policy by any means, and it's not a guarantee. But studies show that if you experience infertility later in life and you did freeze your eggs, you're much more likely to have a child than not. And so we see it as a great backup option. But again, cost is just truly a huge problem. And then, on the egg donation side, there are tons of families that rely on egg donation to have a baby. And I'm someone...I should mention, too, personally, years ago...I'll make a very long story very short here. Years ago, I was diagnosed with an incredibly rare abdominal disease that put into question my ability to have a biological child someday. And so, I started to look into what my options might be, and egg donation came up. And when I looked at what was happening in the space, I just couldn't believe how antiquated it was. And truly, for lack of a better word, how icky it felt. It seemed really transactional and impersonal for everyone involved. And what I realized was that it was really rooted in the stigma around egg donation that comes from cash compensation for donors. So traditionally, a donor is paid anywhere from $8,000 to $100,000 for her eggs, depending on, unfortunately, her pedigree or sometimes her heritage. Something that might be, you know, a donor that's harder to find might require more compensation the way it's done today. And so we actually saw that many women who are interested in helping another family grow through egg donation can actually be off-put by this idea of cash for their eggs. It's like, ooh, am I selling my eggs, or how do I feel about that? And it actually turns people off when it might otherwise have been something they wanted to explore. It also, I think, leaves intended parents without options that they need and really hurts the LGBTQ community that relies on egg donation for family planning. So there's a lot there. And we felt that that was something that if we remove cash compensation, perhaps it's something that really opens up the pie of women that are open to and interested in egg donation. And it also might really honor the donor-conceived person on the end of it more than what's happening today. Studies have come out that show that donor-conceived adults find the exchange of money for donor eggs to be wrong and that they can actually find it disturbing that money was exchanged for their own conception. So our model takes out cash compensation and instead gives women something that they're excited about, which is preserving their own fertility as well and really sets up everyone involved for success. VICTORIA: Yeah. I saw that in your literature, you bring this human-centered design to how you built the platform, which I think speaks to a little bit of what you're describing there. And do you think that being a woman founder yourself allows you to relate and empathize with women who have this unique perspective or a different perspective on how egg donation should work? LAUREN: Yes, egg donation and egg freezing, honestly. I think I mentioned a little bit about my own experience. Both of my two co-founders have also really, really been through it when it comes to their journeys to parenthood; both of them have been through IVF. And one of them says, you know, her biggest regret in life is that she didn't freeze her eggs at 25. And now, instead of just sitting in that, she's building a company to help other women not have that same regret. So building the company we wished existed when we were younger lets us build something that truly is empathetic and human-centered. And it's unfortunate that so much of healthcare is built and designed by people who, while maybe they have good intentions, they're not building from a place of experience, and I think reproductive health is one of those. I think women need to be involved in designing those solutions, and too often, they're not. VICTORIA: Right. Yes. That makes a lot of sense to me. And I want to talk more about you and your three co-founders and how quickly all this has come together. So, how did you know that your team of co-founders was the right team that these are the people you wanted to start this with? LAUREN: Yeah, it's an interesting question on so many fronts. I think there are people who spend a really long time, like co-founder dating, and use frameworks for evaluating co-founders, and the truth of it for us is that it all happened very quickly. Halle, who is the person who connected the three of us, she is one of my co-founders, and she's just someone I had long admired in digital health and women's health. And there was a day where...we peripherally knew each other. And she slid into my DMs on Instagram. Like, you never know where a great contact may come from. And she asked me what I was up to, what I was working on, and the rest is history. I told her I had just left...I spent eight and a half years at Uber and launched new markets of Uber across the East Coast and then started a business line at Uber called Uber Health, and Halle had always followed my trajectory there. And when she reached out to me, it was like, [gasps] what's it going to be about? And when it ended up that she had an idea centered around egg freezing and egg donation, given the experience I had had with my own fertility journey, it just felt like how could this not be the right thing for me to go build? So I would say gut instinct is really what it comes down to. Halle and Arielle, our third co-founder, had worked together a bit in their past lives. Halle built a company called Natalist, which is fertility, pregnancy tests, ovulation kits, and prenatal vitamins, things like that. And Arielle had actually built the first iteration of Cofertility, which was a fertility content site. And they had had that rapport already, and so that was something that I valued quite a bit. Really talking to some references and getting opinions of people you trust, but your gut, more than anything, will help you answer that question. VICTORIA: Right. And sounds like there's that shared experience and mutual respect, which goes a long way. [laughs] LAUREN: Yeah, that and also a shared vision. Like, if you're aligned with someone in the first month or so of talking about an idea, and when it goes from a little kernel to snowballing and becoming something real, I think it's a good signal. But if you're butting heads and disagreeing in that first really crucial time, it's probably a good idea to go in a different direction. VICTORIA: Yeah. And thinking along those lines, were there decisions that were really easy to make, and what were those? And the second part of the question is what decisions were kind of challenging to make, and what made those decisions challenging? LAUREN: It's funny. Halle was just like, "This idea is going to work, and I know it. Let's do it." I am someone who likes to see evidence before making a decision. And so I suggested in those first two weeks, like, let's get a survey together. Let's ask women, "Hey, would you actually be interested in egg donation if it meant that you got to keep half of the eggs for yourself and that there was no cash compensation involved?" So we asked a few influencers on Instagram to put out our Typeform, and within, like, I don't know, 24 hours, we had over 700 responses. VICTORIA: Wow. LAUREN: And it was a very resounding like, yes, this is something women were interested in. That gave me all the conviction I needed to go at this full force. And so I think having that proof point not only was valuable to help me get there, but it also helped investors get on board. I think some of the easy decisions were like there were certain investors that after meeting I just knew like, yes, this is someone I want to be working with over the next few years. This is someone who sees the same vision that we see. And there were a few conversations with other potential investors where I was like, you know what? That's not who I want to work with. Again, it's like, I'm very big on my instincts as it relates to people and trusting that. VICTORIA: Right. Yeah, that makes a lot of sense. And congratulations on raising your seed funding. LAUREN: Thank you. VICTORIA: And was that a stressful process? How did you feel after that happened? LAUREN: Parts of it were stressful, for sure. I think the fact that I had never done it before was stressful. I like to call myself...before this, I was an intrapreneur. I pitched the idea of Uber Health to Uber executive leadership with a deck that was very similar to what you would pitch external investors with in a scenario like this. So I had gone through a little bit of that but never before had I done anything quite like this. And so I felt very lucky to have Halle by my side through that process because it wasn't her first rodeo. But I would say trusting yourself and trusting that you can figure this out. It seems so much more intimidating than it needs to be. No one is expecting you to fully know how all of this stuff works. It's very figureoutable. VICTORIA: And what obstacles did you face in the last year that you've been working on this? LAUREN: The biggest obstacle, I would say, honestly came down to having the time to both get a company off the ground...and I like to imagine an aeroplane. You have to figure out what kind of plane you're building; then you have to find all the parts, then you have to build the plane. And then the goal upon launch, I can imagine it when I close my eyes. It is like getting the plane off the ground. And with a startup, like you can imagine, there's always a bit of building the plane while you're flying it. But doing all of that over the last year, plus finding the right people to hire, is two full-time jobs. You're sourcing incredible candidates. You're meeting with them. You're pitching them the business. But you also need to evaluate whether or not they're as great as their resume makes them seem. Then you have to convince them to join your seed-stage startup, then check their references, and then put together their offer package, and then do all of their paperwork. And it was like all of these things that I took for granted at Uber for so long of having recruiters, and having an HR team, [laughs] and all of those things that truly it is a full-time job plus building a company. So that, for me, was the hardest. And hiring just at that early stage is so, so important because you add one person, and that's like such a huge percentage of your team. So every hire has to be a great one, but you also can't wait too long to hire because then you miss your goals. VICTORIA: Right. Yes. And there's lots of uncertainty going on in the world as well. I'm sure that makes hiring extra exciting. LAUREN: Yes. I mean, exciting and also scary. I think exciting from the fact that there's great talent that's looking in a way that wasn't necessarily the case six months ago, but scary in that you have to...one of my biggest or things that keeps me up at night is like, what's the right timing to bring on new people so that your business scales appropriately but not too soon that you have people waiting around for the work to come? VICTORIA: Right, yes. And speaking of scary, I can imagine the choice to leave a company like Uber and go and start your own business was thrilling. [laughs] Can you tell me more about how that happened, or what was the order of operations there? LAUREN: I'll go back to my personal story a little bit. So I ended up with this disease that I had been diagnosed with. It was so rare and so not a lot of data on this disease that I decided it was...or these doctors were like, "You know what? Do you have a sister by any chance?" I was like, "What do you mean?" They were like, "You know, it's too risky for you to freeze your eggs just because we don't have any data on your disease. But if you have your sister freeze her eggs and donate them to you, you have them as a backup should you need them." So my incredible sister did that. And I learned a lot about the process of donation even through that experience. And went on to have three surgeries and ultimately was able to conceive without using my sister's eggs which was crazy and exciting and definitely gave my doctors a shock, which was great. And when I had my daughter, it was like this light bulb went off of, like, I have to build something in reproductive health. If I'm spending my time building something, I want it to be spent giving people who want to have a child this amazing gift that I've been given. And it was like an immediate amount of clarity. And so, after my maternity leave, I gave notice at Uber without a plan. I did not have a business idea. I did not have a job lined up. I was fortunate enough to be able to do that. But I almost think releasing myself of that is what gave me the freedom to think about other things. And it was within a day that Halle sent me that DM on Instagram without knowing I had given notice. So the universe works in mysterious ways. VICTORIA: That's wonderful and so exciting and that you just had a baby and then to be in a position where you could start a company and almost feel like I don't have enough to do; [laughter] I want to start a new company too. [laughs] LAUREN: I know. I ended up...the day we pitched our lead investors was my daughter's six-month birthday. VICTORIA: That's amazing. MID-ROLL AD: Are your engineers spending too much time on DevOps and maintenance issues when you need them on new features? We know maintaining your own servers can be costly and that it’s easy for spending creep to sneak in when your team isn’t looking. By delegating server management, maintenance, and security to thoughtbot and our network of service partners, you can get 24x7 support from our team of experts, all for less than the cost of one in-house engineer. Save time and money with our DevOps and Maintenance service. Find out more at: tbot.io/devops. VICTORIA: How do you balance that, like, those needs of being a mom and maybe being sleep deprived, but also starting this incredibly important business that you're passionate about? LAUREN: I mean, I'm very lucky that I have an amazing husband and sort of partner in all of this. We both are very involved in each other's work, and I highly recommend that if that's something you're open to. I think it gives you an outlet and someone to be invested in it with you but also more to talk about with your partner. [laughs] But other than that, too, I think having boundaries. So I've been really, really specific with myself and with my team about what windows of time I'm with my daughter, and I'm meticulous about it. If that means on certain days, I wake up before she does so that I can get some work done so that I have two hours with her first thing in the morning, and then I'm off between the hours of 4:00 to 7:00 so that I can spend time with her. If that means getting back online at night, I'm down to do that. I just won't compromise the time with her. And my team has been really respectful and honoring of that. And in turn, I really encourage everyone on my team to have a life outside work, whether that's with their children or their pets, or having physical activity, or things like that in their life. I think it's so important that we're not entirely defined by our startups. I think that's how people burn out really quickly. And it's like 2023, right? We don't need to be in this hustle culture where 100% of our time is focused on building our company. It's just not sustainable. VICTORIA: Right. I like that you mentioned sustainability. And that's been a recurring theme I've seen where, yeah, the hustle culture leads to burnout. It isn't sustainable. So are there other cultural or values that you impart onto your team, this new team, that you're standing up to create that sustainability in that innovation that you want? LAUREN: Yeah. I think one thing we've implemented...I would highly recommend actually Matt Mochary's CEO Curriculum. You can find it by Googling it, or I can share the link with you. And within his curriculum, he has something called The Magic Questions. And the magic questions it's like five or six questions where you ask everyone on your team, like, how would they rate their life at work? How would they rate working with the team? How's their personal life going? Like, you know, questions that you can quickly get to the root of something. But then, aside from giving a rating for each of those questions, it asks like, "How would you take it to the next level?" And what I think implementing these questions has done is it's like each time we do it, it gives the leadership team something to act on of like, "Hey, I noticed a theme amongst the employees with this set of magic questions. Like, here are some things we can address to improve that for everyone." And then there are also opportunities with each individual to say, "Hey, manager of this person, so and so called out that they're really struggling with prioritization this month, or they're really struggling with being split on these two projects. How can we help relieve that, or how can we dig in with that person so that the next time we ask these questions, that's not still an issue and that we've been able to take swift action to help improve that?" I think that really helps to just stay close to what people are feeling and thinking. And it also gives people, I think, more self-awareness of how they're doing and what they can be intentional about and address for themselves as well. VICTORIA: I like that. I'll have to look up that book and share it in our show notes as well and -- LAUREN: It's actually even all online. It's like a Google Doc you can look at. VICTORIA: That's awesome. LAUREN: And there's also a book called The Great CEO Within by Matt Mochary. But I love the book and the Google Doc version. VICTORIA: That's awesome. And it sounds like you really pulled everything together so fast. [laughs] I'm curious about your background if you feel like there were...you mentioned that you pitched inwardly to Uber. But what else about your background kind of lends you to this leadership-founder skill set? LAUREN: I mean, I joined Uber in 2013 when we had, I think, fewer than 200 employees, and we were in about 12 cities. So I very much knew startup life. And I understood this idea of sort of building the plane while you're flying it and saw that. And so I think that certainly has contributed to this. It's important when you're a founder to surround yourself with other founders and to have people that you can tap into at any point. I'm in a few different Slack groups with different founders; some are healthcare founders, some women founders, some through the VCs that we've worked with where it's really easy to say, "Hey, which payroll tool are you using?" Or "Hey, like, how do I measure employee NPS?" Or "What tools are you using for this or that?" And if you can tap into other founders, you really can move a lot faster. You don't have to write your entire employee handbook from scratch because you can borrow from other people. I think that's one of the best hacks that I would recommend. And then some of these books that I found that really do, you know, within that Matt Mochary book, it's like, here's a way to make candidate offers. Obviously, the book isn't doing the work for you, but it certainly is helping to give you a framework. And then the other piece is like, aside from your own team, I think bringing in some advisors who you trust and can go to for certain things. So two of our advisors are people I worked incredibly closely with at Uber and would trust with my life and so why not trust them with my company? So bringing them into the mix has been a real relief. And then just sort of about your community. I think it takes a village to raise...I think, actually, I would compare launching a company to having a baby. So if having a baby takes a village, so does launching a company. VICTORIA: Right. Or no founder is an island. [laughs] LAUREN: Yeah, exactly. VICTORIA: There's like a community, a whole group around that. I've heard, even in the episodes I've recorded, that it's a common theme among successful founders, which is heartwarming and understandable. So last question about just how it all got started. But if you could travel back in time to when you first decided you wanted to go after this opportunity, what advice would you give yourself now that you have all your present knowledge? LAUREN: I say this even to our intended parents who are grappling with this decision of using an egg donor to have a baby: remain steadfast on the vision or the end goal and be flexible on the how. So if you're an intended parent, it's like, remain flexible, like, steadfast on this idea that you want to become a parent, but be flexible on the how. With a company, I think stay true to what that ultimate vision is. So, for us, it's like help more people have babies on their own timeline and be flexible on the how, so exactly what our business model was, or exactly what our go-to-market approach would be, or exactly which product we were going to use to get there. I wish I had been a little bit more open to it being a winding road than I realized I needed to be at the beginning. So now I know that, and I'm open to any possibility as long as it gets us to the same place. VICTORIA: Right, gotcha. Yeah, well, let me ask you then about your go-to-market strategy since you mentioned it. What was unique in your strategy there, especially to target the specific consumers that you want to with this app? LAUREN: So I did follow a bit of an Uber approach, which is this idea of a soft launch. And the reason for that...so basically what we did was for the Freeze by Co side of our business, so for women who are interested in freezing, they have the option to join our split program where they donate half to intended parents and do it for free. Or they can join our Keep Program, where they freeze their eggs but keep 100% of the eggs for themselves. And we help do that along the way. However, basically, we couldn't launch Family by Co to help people find donors until we had donors. So it made sense to launch the Freeze by Co side of our business first. And I wanted the ability to market to them when we didn't have the eyes of the whole industry on us, or we didn't have tons and tons of consumers reading our press or things like that just yet. And so by soft launching with a quick beta Squarespace page, we were able to test our hypothesis, test our messaging, test our funnel, test our experience before really putting a ton of marketing spend behind it or having a ton of visibility into what we were doing. And I'm so, so grateful we did that. It led us, like, we went through probably five different versions of our funnel before we got to our public launch, and our soft launch really afforded us the opportunity to do that. So by the time we turned on the Family by Co side of our business, we already had over 50 donors on day one for them because we had already gotten these women through the funnel. VICTORIA: I love that. And that's something we talk a lot about with founders at thoughtbot is that idea of validating your product, and you talked about it with your Instagram poll that you did with influencers. And the way you're talking about your go-to-market strategy is that you wanted to make sure that even though you knew this is what you wanted to do, that you had the right approach and that you could create something that consumers actually wanted to buy and had trust in. LAUREN: Mm-hmm, totally. VICTORIA: You launched in October 2022. Are there any results post-launch that surprised you? LAUREN: I feel so grateful that our launch truly exceeded my expectations. So the interest from women in our programs has been overwhelming, like overwhelming in a good way. And then intended parents are thrilled about it. So we are making matches every day of these intended parents and these donors. And every time we make a match, I'm like, oh my God, it feels like Christmas morning. You're helping people find their path towards growing their family, and there's nothing that feels better than that. I don't think that feeling is ever going to go away, so I'm thrilled about it. But it doesn't mean that it's not hard. I think back to that analogy of like having a baby, you know, you launch this company. You hope it's received. You count ten fingers, ten toes, hope that it's received, hope that it's received. It is, but then you have the demand, and you have inbound on partnership opportunities, and you have managing the demand and handling the leads and things like that. And it's like so much more than you expect. It's like the same feeling of having a newborn of, like, [gasps] how are we going to do all this? Am I going to stay up all night to manage this? Or how do we handle what we're seeing? And so it's a lot, and figuring out what this new normal is is something that my team and I are working through every day. VICTORIA: What's wonderful is that the surprise feels even better than you thought it would. [laughs] LAUREN: Yes. VICTORIA: Wonderful. For myself, as I'm in my 30s and I'm married and, you know, I'm not thinking it about at some point in the future. But what advice do you think you want women to think about regarding their fertility at any age, like if you could talk to consumers directly like you are now? [laughs] LAUREN: Totally. Just that it's never too soon to ask those questions. And the information you need and should want is like inside your body but ready to be shared with you. So by having a consult with a fertility clinic, and that's something my team could help you with, you can learn about your prospects for having a baby and understanding how fertile you are. And just because, you know, they say, "Oh, as long as you're under a certain age, you shouldn't have a problem," doesn't mean that that's the case. One of my co-founders was 28 when she started trying to conceive and was completely blindsided that this was going to be a real struggle for her, and that breaks my heart. It doesn't need to be like that. If we're more proactive and we start asking these questions younger, then we can actually do something about it. So your fertility is really about your egg quantity and your egg quality, and both of those things are things that can be tested and measured. And I think I'm someone who loves data. And having that data, I think, can help enable you to make decisions about how you can best move forward, and for some, it might mean having a baby soon. For others, it might mean freezing your eggs. For others, it might be a waiting scenario. But that's something that you can make a more informed decision about if you have that data. VICTORIA: That makes a lot of sense. And I'll be sharing this episode with all of my friends and everything on Instagram as well. LAUREN: [laughs] VICTORIA: Great information to put out there. And what's on the horizon for you? What are the big challenges that you see coming up for Cofertility in the next months or year? LAUREN: I think really like scale is what we're focused on. So we've started making matches; it feels great. I want us to be prepared to do those at scale. We are seeing no slowdown in terms of people who are interested in this. And so, making sure that our team is ready and able to handle that demand is my absolute top priority. So I think scale is top of mind. I think making sure we're optimizing our experience for that is really important. So how do we make sure that everyone is having a magical, smooth experience, both through our digital experience but also if they're on the phone with someone from our team or if they're reading our materials at the fertility clinic? Like, how do we ensure that that's a great experience all around? VICTORIA: Right, that makes sense. And right now, is Cofertility specific to a certain location, or is it nationwide? LAUREN: Nationwide throughout the U.S. VICTORIA: Wonderful. And you yourself are based in California, right? LAUREN: Yes, I'm based in Los Angeles. And our team is fully remote, which has been a really exciting thing to do. We're in different time zones and have a lot of opportunity to visit people in different cities, which is nice. VICTORIA: Oh, that's great, yeah. How do you help build that culture remotely with a brand-new team? LAUREN: So, for us, I think we're very intentional about having team off sites at least twice a year. We also get together for different things like planning meetings or conferences that are really relevant to us. But I think part of it, too, is really around different touchpoints throughout the day. And we have a daily stand-up. We also are clear about which hours everyone sort of overlaps based on their time zones and making sure that people are available during those windows and then giving everyone flexibility otherwise in terms of when it makes the most sense to do their work, not being too prescriptive. And really, again, encouraging people to have a life outside work, I think, makes it so that we get the best out of our team. VICTORIA: Right, that makes a lot of sense. Yeah, we've got similar...at thoughtbot, we have in-person meetups once or twice a year and then go to different conferences and things together. And I think some people do miss a little bit of the office experience, but for the most part, everyone is happy to put it that way. [laughs] LAUREN: Yeah, it's definitely...I think for sure it has its pros and cons. I think what I love about it is that we're not limited with talent. Our team truly, like, [laughs] we have people...we have someone in Oakland, someone in Miami, someone in Charleston, someone in Boston, someone in New York City. Like, the fact that we're not limited because of geography feels great. And I admittedly really love the ability to see my daughter throughout the day and feel like I don't have to stress over how much time I'm spending commuting. So I can't see myself ever going back. VICTORIA: That's right, and LA is certainly a place to have a long commute. [laughter] And have you gotten any benefit out of local networking and community around Los Angeles or Southern California? LAUREN: Yes, absolutely. Even this Friday night, I'm going to a female founder dinner. I have something coming up in a couple of weeks with this group of women's health founders that I really love. It's so, so valuable to have people in your network that are both local and get the life that you're living while you're doing it. I think having people understand why your life is the way it is while you're building a company is really quite nice. So there are founder communities everywhere but seeking those out early is definitely helpful. VICTORIA: And then if you have a remote team, then each team member can have that local community, so you're 10x-ing. [laughs] LAUREN: Completely. VICTORIA: Yeah, wonderful. Is there anything else, anything that you think I should have asked you that I haven't asked yet? LAUREN: No. I think one thing I would encourage is when you're trying to figure out your go-to-market approach, what the strategy is going to be. I'm a big fan of getting everything really in slides. Get it in slides and bring in some people you trust. Talk to your advisors, talk to your investors, talk to your co-founders or your team and say, "Hey, these are the three ways this could go. Here are pros and cons of each one," and making a decision that way. I think when we try to do it where it's like all in someone's head, and you're not getting it out on paper with pros and cons, it can feel like a really, really hard decision. But when you see things on paper, and you're able to get the opinion of people you trust, everything is able to come to fruition much more quickly, and you can get to a decision faster. VICTORIA: Right. So you're probably really buzzing with ideas early on and finding ways to communicate those and get it so that you can practice talking about it to somebody else. Makes sense. LAUREN: Yeah. It's like, how do you socialize it? That's a great way to do it. VICTORIA: Yeah, well, wonderful. This has been a really enjoyable conversation. I appreciate you coming on the show so much, and thank you for sharing all about Cofertility with us. Any other final takeaways for our listeners? LAUREN: Thanks so much for having me. If you're interested at all in what we're doing or it would be helpful to connect, our website is cofertility.com. You can find me on Instagram at @laurenmakler, L-A-U-R-E-N-M-A-K-L-E-R. Happy to chat really about anything as it relates to building a company, or your fertility, or just questions you have in general. I would love to chat. VICTORIA: Thank you so much. And you can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter @victori_ousg. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thank you for listening, and see you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com.Sponsored By:thoughtbot: Are your engineers spending too much time on DevOps and maintenance issues when you need them on new features? We know maintaining your own servers can be costly and that it’s easy for spending creep to sneak in when your team isn’t looking. By delegating server management, maintenance, and security to thoughtbot and our network of service partners, you can get 24x7 support from our team of experts, all for less than the cost of one in-house engineer. Save time and money with our DevOps and Maintenance service. Find out more at: tbot.io/devopsSupport Giant Robots Smashing Into Other Giant Robots

Shaila Sahai is the Founder of We Take Part, an investment crowdfunding platform that connects eco-conscious investors and green tech entrepreneurs throughout Europe, including European overseas territories. Victoria talks to Shaila about focusing on clean tech and climate tech solutions exclusively, goals of contributing to the acceleration of the process of decarbonization, and how the idea of a crowd-investing platform that targets only green tech is welcome from the fintech ecosystem and potential investors. Follow We Take Part on LinkedIn. Follow Shaila Sahai on LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is the Giant Robots Smashing Into Other Giant Robots podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido. And with me today is Shaila Sahai, Founder of We Take Part, an investment crowdfunding platform that connects eco-conscious investors and green tech entrepreneurs throughout Europe, including European overseas territories. Shaila, thank you for joining me. SHAILA: Thank you for having me. VICTORIA: So, can you start off just telling me a little bit more about We Take Part? SHAILA: We Take part is a crowdinvesting platform based in France. We will be connecting eco-conscious investors, who could be individuals but also institutions, with startups from the green tech ecosystem in France and in Europe. We're going to use projects such as equities. It could be also bonds, green bonds. So basically, it will be investing in a company in exchange of shares in those startups. VICTORIA: Great. And you have a background in financial services. What led you to get the idea to start this platform? SHAILA: Yes. So I come from the financial services world professionally, so I worked in equity services. So basically, my job was to make sure that trades were correctly made and settled in the stock exchange markets. Then I also went to work in the financial management corporate side in banking. I had, after some years, a global vision of finance management that led me to after some time, I quit my job and started working for myself as a financial management consultant. So basically, it was financial consulting. And after some time, I specialized in working with small companies and startups, helping them in financial optimization and also in financial development strategies. And I wanted to do more for those companies after some time, so more than consulting and helping them internally. I wanted to develop tools for them to find more financing solutions than just going to a bank asking for a loan, for example. Most of the time, I could see them feeling blocked when they could not, for example, get a loan from the bank. That led me to develop a crowdfunding solution for them to help them. Also, the fact that we chose to target only green tech startups comes from a personal conviction of mine that we should really focus on and prioritize climate change solutions right now. And we should, as a society but also in the economy, focus on sustainable solutions to help and contribute actively to the decarbonization of the economy in general. VICTORIA: That makes a lot of sense. And can you give me an example of a type of green tech that is being crowdfunded, or you want to be crowdfunded on this platform fund? SHAILA: We want to focus on clean tech and climate tech solutions exclusively. A lot of competitors and investors right now focus on renewable energy, and, of course, this is a very important problem. We want to give access to other startups that develop solutions to clean, for example, the atmosphere or oceans and also the earth for agriculture matters. We want to give them access to investments too. Also, to include people in the investment process because the subjects such as, for example, agriculture, or transportation, construction solutions also are a priority, and they really interest people directly. Some matters, such as renewable energy some people understand those matters, but most of them don't feel really connected to those problems because they seem like far from their daily preoccupations. So we want to focus on solutions that will directly help people in their...affect and impact people in their daily solutions. VICTORIA: Right. So not only are you democratizing this investment into green energy and green tech, but you're also expanding the idea of what does that mean? What types of projects are we doing besides just alternative fuels, right? SHAILA: Exactly. It is true that fossil fuels and all those high carbon emissions energy industries represent three-quarters of the carbon emissions globally. There still is one quarter that we need to transform that needs to be totally, yes, changed. So we need to go further than that, and we need to take part. And that's also the reason for the name of the company. We need to take part in the whole action change plan. VICTORIA: Right. And I think about that when I've talked to my friends about climate change and how it affects people and the fact that it is already affecting people. And that certain neighborhoods and certain communities are taking a disproportionate share of the impact of climate change. SHAILA: Absolutely. I personally come from an island. So I'm from the Caribbean, from an island called Guadeloupe. It's a French territory. In the Caribbean, for example, or South America as we know, as we see in the media, the consequences of global warming and fossil industries are extremely visible, and the impacts are huge. The landscape, for example, is changing dramatically. The air pollution is awful. Forests are disappearing. So those are very visible effects. That's also a reason why it was important for us to include green tech solutions from those places because a lot of innovators are from there because they live with the direct consequences. They innovate in those areas. But those territories, unfortunately, are mostly forgotten, even by big countries, so that's also a reason why someone has to get interested in them. VICTORIA: Right. I could imagine that it's difficult to find capital if you're from that area and you're solving a problem that's not one of the big ones, [laughs], right? SHAILA: Exactly. VICTORIA: Are the projects that you're looking to crowdfund; do they tend to be small? Are they large? Or what's the size of the projects that they're looking for? SHAILA: So exactly for that reason of accessibility, we decided to first of all, from an investor point of view, we decided to make the investment ticket to set it to €100. But also from a company in funding needs, we decided to also set the minimum funding amount to €50,000. So that means that we really want to support early-stage companies which are not necessarily attractive to big investors or banks, which are not profitable yet but still have good potential of development to support their solution because most of them really deserve to be supported and need to get their product out. Obviously, the aim of our company, of our solution is to make profit and also to lead investors to make profitable investments. So we will have, of course, financial criterias before selecting startups getting into our funding process. But the main focus will be to give them access to investments that would not be attractive, very attractive to big investors or banks. VICTORIA: Right. And you just founded this back in April, and you're at pre-seed stage. How are you feeling? [laughs] SHAILA: Well, I feel overwhelmed [laughs] because there's a lot of, you know, this is a good thing that this area of operations is very regulated. That comes with a lot of paperwork. So I have to go through this right now before really launching publicly the activities. But, in the meantime, I feel very excited because I am personally motivated. The aim is bigger than making profits. The aim is to contribute to the acceleration of the whole process of decarbonization. It's also to give more sense, more meaning to investment in general but also to give access to new people to investment. And by that, I mean people who are climate-conscious, people who want to make a change, to see direct changes in their environments because I know that the cause is greater than me. I'm very excited as well as exhausted. VICTORIA: [laughs] That's good. I think you'll need that passion to keep you going. Have you had anyone tell you that you should consider a nonprofit, and why have you decided to make it for-profit? SHAILA: No, so no one has told me this [laughter] yet. I guess that's because of my background. I come from finance. My partners or people that I meet because of this project know that I eventually know what I'm doing. They are not suggesting nonprofit. Also, I truly believe in making good business. I think that this is possible, and I want to be part of those people who make it possible. For a long time, prosperity, economic prosperity was a synonym for just aggressive business and huge industries, globalization, et cetera. And now, because of the climate emergency, we understand that something needs to be done. But I think that globally, the system is still scared of making a radical change because of profits reasons. Profit can be made while making a sustainable business. So I wouldn't even consider a nonprofit because we need to change the narrative. I think doing good is not going to mean doing things like being idealistic or following just a dream. We need to make it a reality. VICTORIA: Right. And when you're in a for-profit business with a meaningful impact, you can focus on making the business work versus trying to find donors or trying to always prove how much you're giving back to the community. It'll make good business sense, and I really like that's the path that you're taking. SHAILA: Exactly. VICTORIA: Wonderful. What has your process been for validating this idea? Do you interview lots of different people? How do you know that it's the right market fit? SHAILA: In the last years, I have seen the whole narrative change. That is what I was talking about in the way business needs to be made. When I was working in banking, I have seen those new standards, ESG standards coming, appearing. I also know that this is going to be a norm very soon. That means that the way we do business is really going to change like in reality in corporate practices. So, first of all, this is the right path because literally corporate practices are going to change and are going to align more and more with ESG criterias. Very soon, it will not be possible at all to continue to operate business without sustainable practices, obviously the way the large groups are going to change and are changing already. And small businesses are going to be built with ESG standards in mind too. Another part of the change is coming from the solutions. Are they sustainable? Are they energy efficient? Are they contributing to decarbonization, or are they polluting more? Is it possible to fund them because of that? So I think there is a whole transformation of the economy, and we need to be ready to follow up with the change. And we all need to be ready to fund this economy, not only governments but also private and small private institutions, individuals. Also, the green tech ecosystem, in general, is just exploding. This is a fact. For example, in France in 2020, we had a number of 800 green tech startups in France. In 2021, those startups increased, and the number of startups increased. And we could count 1,800 startups just one year after. This ecosystem also is growing massively, and the market is there. VICTORIA: That's really exciting. And what is the startup community in Paris like? SHAILA: Well, the startup community is very active in Paris. France is a huge generator of startups. As you may know, Station F is the biggest incubator in the world. It is a very dynamic ecosystem. Innovations are appearing every day. And France supports the startups a lot. Yes, it's very dynamic. A lot of things are being made, and it's an ecosystem where we know each other. We meet each other, and we know what needs to be done. We talk with each other, especially at Station F, where I am not located, but still, a lot of meetups are there, a lot of events are going on there. So this is a place for startup founders to meet and talk. So we know that a lot of things are going to happen. VICTORIA: That's very exciting. SHAILA: Yes, it is really, very encouraging. Mid-Roll Ad: When starting a new project, we understand that you want to make the right choices in technology, features, and investment but that you don’t have all year to do extended research. In just a few weeks, thoughtbot’s Discovery Sprints deliver a user-centered product journey, a clickable prototype or Proof of Concept, and key market insights from focused user research. We’ll help you to identify the primary user flow, decide which framework should be used to bring it to life, and set a firm estimate on future development efforts. Maximize impact and minimize risk with a validated roadmap for your new product. Get started at: tbot.io/sprint VICTORIA: Have you found a lot of people get your idea right away? Do you feel people are excited about your product when you talk to them about it? SHAILA: Yes, that was very, very surprising to me. Everybody I talked to was getting the idea very quickly. I haven't met any reservation from people around me or from partners, from people I was approaching business-wise. Well, I think the climate emergency is such that people get the idea immediately. Also, fundings, for now, are not enough for the green tech ecosystem. So the idea of a crowdinvesting platform that targets only green tech is really welcome from the ecosystem, the fintech ecosystem, but also from potential investors too. VICTORIA: That's great. It must make you feel validated that you know you're on the right path. [laughs] SHAILA: Yes, this is very helpful to me, yes. VICTORIA: Wonderful. And what's next on your roadmap? What's the biggest challenge you see ahead of you? SHAILA: So, yes, the next step for us, once we receive all the green lights to operate on the French and European market, will be to build our investors community. For now, we are waiting for this green light from the financial authorities to start publishing and communicating at a large scale to the public about what we are going to do. So our next challenge is really to reach out to people to convince them to join us and also to make sustainable investment understandable and accessible to first-time investors. VICTORIA: Do you feel like you have the tools to do that? What do you think is going to be difficult about that process? SHAILA: On that part, I think the most difficult part will be a traditional aspect of the business, which is competition. The thing is we need, in this particular area, we need currently to face two problems. The first one is the greenwashing problem that a lot of companies use, and we are not aligned with those greenwashing practices, and this could be confusing for people. Because the truth is as much as the climate change emergency is real, there is also a trend of offering all types of green services and products, so this could be confusing for consumers, for people. The first challenge will be to differentiate and really to make people understand that sustainability is in our core values, but it's also our why that this is the reason why we're doing this. This is not a greenwashing opportunity for us. Also, yes, in this competition matter, the other thing is that we are not going to focus only on renewable energy. So there is some type of education we need to provide about our products, about the meaning of the solutions, and the impacts of the solutions we're going to finance, even when they are not renewable energy related. VICTORIA: Those sound like exciting challenges to work on. [laughs] SHAILA: Yes, really. VICTORIA: Once all the paperwork is finished. SHAILA: Exactly. So this will be basically marketing, marketing, and communication issues. VICTORIA: Wonderful. Why crowdfunding versus regular government funding for these types of projects? SHAILA: It is important to enhance alternative financing solutions because the reality is that most businesses in their early stage will not be financially strong enough to ask for financing solutions such as bank loans, for example. That means that they don't have enough capital at first to engage in more debts. What they need is to reinforce their capital in an early stage. When the founders, for example, do not have basically the money themselves to fund their own company, calling the crowd to help is a very good solution to reinforce their capital. So they have more power after that to go for other types of financing solutions such as fundraising huge amounts from investors, from institutions, or to ask for, for example, bank loans. They are strong enough then to go for more and to develop their solutions and scale up. VICTORIA: That makes a lot of sense. And I'm wondering if, in your process, since April, have there been any pivots you had to make where you were going in one direction, and then you learned something and decided you needed to go a completely different direction? SHAILA: Yes, to be honest, my first idea was to target startups from the European overseas territories only. So that was my first idea. When I did my market study, I discovered that the market was too small. It was a very interesting market because those startups are far from the countries they are related to. French Caribbean islands are geographically far from the French territory, French country in Europe. They have some localization barrier, for example, to reach the national market. And that is the case for any other overseas European territory. So my first idea was to give them access and give them visibility in the national territory because crowdfunding is an online solution, but, well, the market was too small, for example. So this was not a good path to go. And I had to reevaluate and do another market study because also my main goal was to answer an environmental need. VICTORIA: That makes a lot of sense. And it is interesting how your idea of the market evolves once you really start building something and start getting information about it. SHAILA: I can give you another example of a switch of the idea, of the initial idea I had. We wanted to start operating immediately in all Europe. We learned that because of the European regulations of the markets, we need to go step by step and country by country. This made us focus first on the French market. And we know now that we will be able to reach the other European ecosystems one by one. That helped us refine our marketing strategy. VICTORIA: Interesting. So when you started building your product or building the idea, and you went country by country, was there a concern about getting too specific to that country? Or was it easy to build out to a new country once you were ready to move on? SHAILA: It's quite easy in the conceptual stage because the European Union has really standardized a lot of economic or financial regulations. So we have a system of like an economic or business passport which makes it quite easy. But the main problem is really being able to adapt to different languages, Spanish, or German, or English, or Italian, to adapt to those markets with their specificities, which are linked not only to their language but those still are marketing aspects. But other than that, thanks to the European Union system, it is quite easy to really build a whole European strategy. VICTORIA: Right. I feel like that should be a part of an ad or marketing [laughter] just for the European Union. SHAILA: It could be. It could be, right. VICTORIA: Well, that makes a lot of sense. And we understand as well, being an international company, that being able to adapt to different languages does present its own challenges. SHAILA: Exactly. VICTORIA: Well, wonderful. What advice would you give to yourself at the beginning of this project if you could go back in time? SHAILA: You know, it's funny because I have been familiar to business for a long time. I come from a businessmen family. And also, I've been working as a financial management consultant for small companies and startups for some years before. But still, I didn't maybe gather enough money at first to start this very capital-consuming business. So I would advise myself to gather twice the money I had before. [chuckles] Even if we found solutions and we are totally equipped, but well, I was maybe...I didn't prepare enough capital at first. And also another advice would have been from the start to not forget to sleep [laughs] because this is really crucial to maintain good health when you start a new project, and especially a very energy-consuming one. The health of your project and of your company also depends on your own health. VICTORIA: Wonderful advice. [laughs] Everyone who's working on something they're passionate about should remember that. You're 100% right. It's dependent on your own health first, right? SHAILA: Exactly. It could be the passion drives you so much that...and you know the amount of work you effectively have to do, so you can really get caught in the amount of work. But sleep is a very good strategy to keep going. VICTORIA: I love sleep. I'm a big fan. My sleep schedule is a little messed up because I was in the Azores last week. SHAILA: So the jetlag was big. VICTORIA: Yeah, but it helps me because we're kind of an early riser family anyways. Yeah, I can have time to have my coffee before I start work. [laughs] SHAILA: Right. I see, yeah. VICTORIA: Is there any other final takeaways you want to give to our audience? SHAILA: I would ask the people who listen to really join us as soon as we are ready to launch and to talk about We Take Part to their friends and family. Also, to reach out because we could help understand more what we can do, how we can help, and how investing and supporting sustainable business how important it is. And when it's correctly made, and it is profitable, it is profitable for everyone, for the whole society, not only for an economic system. VICTORIA: Wonderful. And we'll have the opportunity to include any links or marketing in our show notes. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. You can find me on Twitter @victori_ousg. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening. See you next time. ANNOUNCER: This podcast was brought to you by thought. thoughtbot is your expert design and development partner. Let's make your product and team a success.Sponsored By:thoughtbot: When starting a new project, we understand that you want to make the right choices in technology, features, and investment, but that you don’t have all year to do extended research. In just a few weeks, thoughtbot’s Discovery Sprints deliver a user-centered product journey, a clickable prototype or Proof of Concept, and key market insights from focused user research. We’ll help you to identify the primary user flow, decide which framework should be used to bring it to life, and set a firm estimate on future development efforts. Maximize impact and minimize risk with a validated roadmap for your new product. Get started at: tbot.io/sprintSupport Giant Robots Smashing Into Other Giant Robots

Laura Maguire is a Researcher at Jeli.io, the first dedicated incident analysis platform that combines more comprehensive data to deliver more proactive solutions and identify problems. Victoria talks to Laura about incident management, giving companies a powerful tool to learn from their incidents, and what types of customers are ideal for taking on a platform like Jeli.io. Jeli.io Follow Jeli.io on Instagram, Twitter or LinkedIn. Follow Laura Maguire on Twitter or LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: VICTORIA: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido. And with me today is Laura Maguire, Researcher at Jeli, the first dedicated instant analysis platform that combines more comprehensive data to deliver more proactive solutions and identify problems. Laura, thank you for joining me. LAURA: Thanks for having me, Victoria. VICTORIA: This might be a very introductory level question but just right off the bat, what is an incident? LAURA: What we find is a lot of companies define this very differently across the space, but typically, it's where they are seeing an impact, either a customer impact or a degradation of their service. This can be either formally, it kind of impacts their SLOs or their SLAs, or informally it's something that someone on the team notices or someone, you know, one of their users notice as being degraded performance or something not working as intended. VICTORIA: Gotcha. From my background being in IT operations, I'm familiar with incidents, and it's been a practice in IT for a long time. But what brought you to be a part of building this platform and creating a product around incidents? LAURA: I am a, let's say, recovering safety professional. VICTORIA: [chuckles] LAURA: I started my career in the safety and risk management realm within natural resource industries in the physical world. And so I worked with people who were at the sharp end in high-risk, high-consequence type work. And they were really navigating risk and navigating safety in the real world. And as I was working in this domain, I noticed that there was a delta between what was being said, created safety, and helped risk management and what I was actually seeing with the people that I was working with on the front lines. And so I started to pull the thread on this, and I thought, is work as done really the same as work as written or work as prescribed? And what I found was a whole field of research, a whole field of practice around thinking about safety and risk management in the world of cognitive work. And so this is how people think about risk, how they manage risk, and how do they interpret change and events in the world around them. And so as I started to do my master's degree in human factors and system safety and then later my Ph.D. in cognitive systems engineering, I realized that whether you are on the frontlines of a wildland fire or you're on the frontlines of responding to an incident in the software realm, the ways in which people detect, diagnose, and repair the issues that they're facing are quite similar in terms of the cognitive work. And so when I was starting my Ph.D. work, I was working with Dr. David Woods at the Cognitive Systems Engineering Lab at The Ohio State University. And I came into it, and I was thinking I'm going to work with astronauts, or with fighter pilots, or emergency room doctors, these really exciting domains. And he was like, "We're going to have you work with software engineers." And at first, I really failed to see the connection there, but as I started to learn more about site reliability engineering, about DevOps, about the continuous deployment, continuous integration world, I realized software engineers are really at the forefront of managing critical digital infrastructure. They're keeping up the systems that run society, both for recreation and pleasure in the sense of Netflix, for example, as well as the critical functions within society like our 911 call routing systems, our financial markets. And so the ability to study how software engineers detect outages, manage outages, and work together collaboratively across the team was really giving us a way to study this kind of work that could actually feed back into other types of domains like emergency response, like emergency rooms, and even back to the fighter pilots and astronauts. VICTORIA: Wow, that's so interesting. And so is your research that went into your Ph.D. did that help you help define the product strategy and kind of market fit for what you've been building at Jeli? LAURA: Yeah, absolutely. So Nora Jones, who is the founder and CEO of Jeli, reached out to me at a conference and told me a little bit about what she was thinking about, about how she wanted to support software engineers using a lot of this literature and a lot of the learnings from these other domains to build this product to help support incident management in software engineering. So we base a lot of our thinking around how to help support this cognitive work and how to help resilient performance in these very dynamic, these very changing large scale, you know, distributed software systems on this research, as well as the research that we do with our own users and with our own members from learning from incidents in software engineering Slack community that Nora and several other fairly prominent names within the software community started, Lorin Hochstein, John Allspaw Dr. Richard Cook, Jessica DeVita, Ryan Kitchens, and I may be missing someone else but...and myself, oh, Will Galego as well. Yeah, we based a lot of our understandings, really deep qualitative understandings of what is work like for software engineers when they're, you know, in continuous deployment type environments. And we've translated this into building a product that we think helps but not hinders by getting in the way of engineers while they're under time pressure and there's a lot of uncertainty. And there's often quite a bit of stress involved with responding to incidents. VICTORIA: Right. And you mentioned resilience engineering. And for those who don't know, David Woods, who you worked on with your Ph.D., wrote "Resilience Engineering: Concepts and Precepts." So maybe you could talk a little bit about resilience engineering and what that really means, not just in technology but in the people who were running the tools, right? LAURA: Yeah. So resilience engineering is different from how we think about protecting and defending our software systems. And it's different in the sense that we aren't just thinking about how do we prevent incidents from happening again, like, how do we fix things that have happened to us in the past? But how do we better understand the ways in which our systems operate under a wide variety of conditions? So that includes normal operating conditions as well as abnormal or anomalous operating conditions, such as an incident response. And so resilience engineering was kind of this way of thinking differently about predicting failure, about managing failure, and navigating these kinds of worlds. And one of the fundamental differences about it is it sees people as being the most adaptive component within the system of work. So we can have really good processes and practices around deploying code; we can institute things like cross-checking and peer review of code; we can have really good robust backup and failover systems, but ultimately, it's very likely that in these kinds of complex and adaptive always-changing systems that you're going to encounter problems that you weren't able to anticipate. And so this is where the resilience part comes in because if you're faced with a novel problem, if you're faced with an issue you've never seen before, or a hidden dependency within your system, or an unanticipated failure mode, you have to adapt. You have to be able to take all of the information that's available to you in the moment. You have to interpret that in real-time. You have to think of who else might have skills, knowledge, expertise, access to information, or access to certain kinds of systems or software components. And you have to bring all of those people together in real-time to be able to manage the problem at hand. And so this is really quite a different way of thinking about supporting this work than just let's keep the runbooks updated, and let's make sure that we can write prescriptive processes for everything that we're going to encounter. Because this really is the difference that I saw when I was talking about earlier about that work is done versus work is prescribed. The rules don't cover all of the situations. And so you have to think of how do you help people adapt? How do you help people access information in real-time to be able to handle unforeseen failures? VICTORIA: Right. That makes a lot of sense. It's an interesting evolution of site reliability engineering where you're thinking about the users' experience of your site. It's also thinking about the people who are running your site and what their experience is, and what freedom they have to be able to solve the problems that you wouldn't be able to predict, right? LAURA: Yeah, it's a really good point, actually, because there is sort of this double layer in the product that we are building. So, as you mentioned earlier, we are an incident analysis platform, and so what does that mean? Well, it means that we pull in data whenever there's been an incident, and we help you to look at it a little bit more deeply than you may if you're just following a template and sort of reconstructing a timeline. And so we pull in the actual Slack data that, you know, say, an ops channel or an incident channel that's been spun up following a report of a degraded performance or of an outage. And we look very closely at how did people talk to one another? Who did they bring into the incident? What kinds of things did they think were relevant and important at different points in time? And in doing this, it helps us to understand what information was available to people at different points in time. Because after the incident and after it's been resolved, people often look back and say, "Oh, there's nothing we can learn from that. We figured out what it was." But if we go back and we start looking at how people detected it, how they diagnosed it, who they brought into the event, we can start to unpack these patterns and these ways of understanding how do people work together? What information is useful at different points in time? Which helps us get a deeper understanding of how our systems actually work and how they actually fail. VICTORIA: Right. And I see there are a few different ways the platform does that: there's a narrative builder, a people view, and also a visual timeline. So, do you find that combining all those things together really gives companies a powerful tool to learn from their incidents? LAURA: Yeah. So let me talk a little bit about each of those different components. Our MVP of the product we started out with this understanding of the incident analyst and the incident investigator who, you know, was ready to dive in and ready to understand their incident and apply some qualitative analysis techniques to thinking about their incidents. And what we found was there are a number of these people who are really interested in this deep dive within the software industry. But there's a broader subset of folks that they work with who maybe only do these kinds of incident analysis every once in a while, and they're not as interested in going quite as deep. And so the narrative builder is really this kind of bridge between those two types of users. And what it does is helps construct a timeline which is typically what most companies do to help drive the discussion that they might have in a post-mortem or to drive their kind of findings in their summary report. And it helps them take this closer look at the interactions that happened in that slack transcript and raise questions about what kinds of uncertainties there were, point out who was involved, or interesting aspects of the event at that point in time. And it helps them to summarize what was happening. What did people think was happening at this point in time to create this story about the incident? And the story element is really important because we all learn from stories. It helps bring to life some of the details about what was hard, who was involved, how did they get brought in, what the sources of technical failure were, and whether those were easy or difficult to understand and to repair once the source of the failure was actually understood. And so that narrative builder helps reconstruct this timeline in a much richer way but also do it very efficiently. And as you mentioned, the visual timeline is something that we've created to help that lightweight user or that every once in a while user to go a little bit deeper on their analysis. And how we do that is because it lays out the progression of the event in a way that helps you see, oh, this maybe wasn't straightforward. We didn't detect it in the beginning, and then diagnose it, and then repair it at the end. What happened actually was the detection was intermittent. The signals about what was going wrong was intermittent, and so that was going on in parallel with the diagnosis. The diagnosis took a really long time, and that may have been because we can also see the repair was happening concurrently. And so it starts to show these kinds of characteristics about whether the incident was difficult, whether it was challenging and hard, or whether it was simple and straightforward. This helps lend a bit more depth to metrics like MTTR and TTD by saying, oh, there was a lot more going on in this incident than we initially thought. The last thing that you mentioned was the people view, and so that really sets our product apart from other products in that we look at the sociotechnical system. So it's not just about the software that broke; it is about who was involved in managing that system, in repairing that system, and in communicating about that system outwardly. And so the people view this kind of pulls in some HR data. It helps us to understand who was involved. How long have they been in their role? Were they on-call? Were they not on-call? And other kinds of irrelevant details that show us what was their engagement or their interaction with this event. And so when we start to bring in the socio part of the sociotechnical system, we can identify things like what knowledge do we have within the organization? Is that knowledge well-distributed, or is it just isolated in one or two people? And so those people are constantly getting pulled into incidents when they may be not on-call, which can start to show us whether or not these folks are in danger of burning out or whether their knowledge might need to be transferred more broadly throughout the organization. So this is kind of where the resilience piece comes in because it helps us to distribute knowledge. It helps us to identify who is relevant and useful and how do they partner and collaborate with other people, and their knowledge and skill sets to be able to manage some of the outages that they face? VICTORIA: That's wonderful because one of my follow-up questions would be, as a CEO, as a founder, what kind of insights or choices do you get to make now that you have this insight to help make your team more resilient? [laughs] LAURA: So if this is a manager, or a founder, or a CEO that is looking at their data in Jeli, they can start to understand how to resource their teams more appropriately, as I mentioned, how to spread that knowledge around. They can start to see what parts of their system are creating the most problems or what parts of their system do they have maybe less insight into how it works, how it interacts with other parts of the system, and what this actually means for their ability to meet their SLOs or their SLAs. So it gives you a more in-depth understanding of how your business is actually operating on both the technical side of things, as well as on the people side of things. VICTORIA: That makes a lot of sense. Thank you for that overview of the platform. There's the incident analysis platform, and you also have the bot, the response chatbot. Can you tell me a little bit more about that? LAURA: Yeah, absolutely. We think that incident management should be conducted wherever your work actually takes place, and so for most of our customers and a lot of folks that we know about in the industry, that's Slack. And so, if you are communicating in real-time with your team in Slack, we think that you should stay there. And so, we built this incident management bot that is free and will be free for the lifetime of the product. Because we think that this is really the fundamental basis for helping you manage your incidents more efficiently and more effectively. So it's a pretty lightweight bot. It gives kind of some guardrails or some guidance around collaboration by spinning up a new incident channel, helping you to bring the right kinds of responders into that, helping you to communicate to interested stakeholders by broadcasting to channels they might be in. It kind of nudges you to think about how to communicate about what's happening during different stages of the event progression. And so it's prompting you in a very lightweight way; hey, do you have a status update? Do you have a summary of what the current thinking is? What are the hypotheses about what's going on? Who's conducting what kinds of activities right now? So that if I'm a responder that's coming into the event after 20-30 minutes after it started, I can very quickly come up to speed, understand what's going on, who's doing what, and figure out what's useful for me to do to help step in and not disrupt the incident management that's underway right now. Our users can choose to use the bot independently of the incident analysis platform. But of course, being able to ingest that incident into Jeli it helps you understand who's been involved in the incident, if they've been involved in similar incidents in the past, and helps them start to see some patterns and some themes that emerge over time when you start to look at incidents across the organization. VICTORIA: That makes sense. And I love that it's free and that there's something for every type of organization to take advantage of there. And I wonder if at Jeli you have data about what type of customer is it who'd be targeted or really ideal to take on this kind of platform. LAURA: So most organizations...I was actually recently at SREcon EMEA, and there was a really interesting series of talks; one was SRE for Enterprise, and the next talk was SRE for Startups. And so it was a very thought-provoking discussion around is SRE for everyone, so site reliability engineering? Even smaller teams are starting to have to be responsible for reliability and responsible for running their service. And so we kind of have built our platform thinking about how do we help not just big enterprises or organizations that may have dedicated teams for this but also small startups to learn from their incidents. So internally, we actually call incidents opportunities as in they are learning opportunities for checking out how does your system actually work? How do your people work together? What things were difficult and challenging about the incident? And how do you talk about those things as a team to help create more resilient performance in future? So in terms of an ideal customer, it's really folks that are interested in conducting these sort of lightweight but in-depth looks at how their system actually works on both the people side of things and the technical side of things. Those who we found are most successful with our product are interested in not so much figuring out who did the thing and who can they blame for the incident itself but rather how do they learn from what happened? And would another engineer, or another product owner, another customer service representative, whoever the incident may be sort of focused around, would another person in their shoes have taken the same actions that they took or made the same decisions that they made? Which helps us understand from a systems level how do we repair or how do we adjust the system of work surrounding folks so that they are better supported when they're faced with uncertainty, or with that kind of time pressure, or that ambiguity about what's actually going on? VICTORIA: And I love that you said that because part of the reason [laughs] I invited you on to the podcast is that a lot of companies I have experience with don't think about incidents until it happens to them, and then it can be a scramble. It can impact their customer base. It can stress their team out. But if you go about creating...the term obviously you all use is psychological safety on your team, and maybe you use some of the free tools from Jeli like the Post-Incident Guide and the Incident Analysis 101 blog to set your team up for success from the beginning, then you can increase your customer loyalty and your team loyalty as well to the company. Is that your experience? LAURA: Yeah, absolutely. So one thing that I have learned throughout my career, you know, starting way back in forestry and looking at safety and risk in that domain, was as soon as there is an accident or even a serious near miss, right away, everybody gets sweaty palms. Everybody is concerned about, uh-oh, am I going to get blamed for this? Am I going to get fired? Am I going to get publicly shamed for the decisions that I made when I was in this situation? And what that response, that reaction does is it drives a lot of the communication and a lot of the understanding of the conditions that that person was in. It drives that underground. And it's important to allow people to talk about here's what I was seeing, here's what I was experiencing because, in these kinds of complex systems, information is not readily available to people. The signals are not always coming through loud and clear about what's going on or about what the appropriate actions to take are. Instead, it's messy; it's loud, it's noisy. There are usually multiple different demands on that person's attention and on their time, and they're often managing trade-offs: do I keep the system down so that I can gather more information about what's actually going on, or do I just try and bring it up as quickly as I can so that there's less impact to users? Those kinds of decisions are having to be made under pressure. So when we create these conditions of psychological safety, when we say you know what? This happened. We want to learn from it. We've already made this investment. Richard Cook mentioned in the very first SNAFU Catchers Report, which was a report that came out of Ohio State, that incidents are unplanned investments into understanding how your system works. And so you've already had the incident. You've already paid the price of that downtime or of that outage. So you might as well extract some learning from it so that you can help create a safer and more resilient system in the future. So by helping people to reconstruct what was actually happening in real-time, not what they were retrospectively saying, "Oh, I should have done this," well, you didn't do that. So let's understand why you thought at that moment in time that was the right way to respond because, more than likely, other people in that same position would have made that same choice. And so it helps us to think more broadly about ways that we can support decision-making and sense-making under conditions of stress and uncertainty. And ultimately, that helps your system be more resilient and be more reliable for your customers. VICTORIA: What a great reframing: unplanned investment. [laughs] And if you don't learn from it, then you're going to lose out on what you've already invested that time in resolving it, right? LAURA: Absolutely. MID-ROLL AD: Are you an entrepreneur or start-up founder looking to gain confidence in the way forward for your idea? At thoughtbot, we know you’re tight on time and investment, which is why we’ve created targeted 1-hour remote workshops to help you develop a concrete plan for your product’s next steps. Over four interactive sessions, we work with you on research, product design sprint, critical path, and presentation prep so that you and your team are better equipped with the skills and knowledge for success. Find out how we can help you move the needle at: tbot.io/entrepreneurs. VICTORIA: Getting more into that psychological safety and how to create that culture where people feel safe telling about what really happened, but how does that relate to...Jeli says that they are a people software. [laughs] Talk to me more about that. Like, what advice do you give founders and CEOs on how to create that psychological safety which makes them be more resilient in these types of incidents? LAURA: So you mentioned the Howie Guide that we published last year, and this is our guidance around how to do incident analysis, how to help your team start to learn from their incidents, and Howie stands for how we got here. And that's really important, that language because what it says is there's a history that led up to this incident. And most teams, when they've had an outage, they'll kind of look backwards from that outage, maybe an hour, maybe a day, maybe to the last deploy. But they don't think about how the decisions got made to use that piece of software in the first place. They don't think about how did engineers actually get on-boarded to being on-call. They don't necessarily think about what kinds of skills, and knowledge, and expertise when we're hiring a DevOps engineer, and I'm using air quotes here or an SRE. What kinds of skills and knowledge do they actually have? Those are very broad terms. And what it means to be a DevOps engineer or an SRE is quite underspecified. And so the knowledge behind the folks that you might hire into the company is going to necessarily be very diverse. It's going to be partial and incomplete in many ways because not everyone can know everything about the system. And so, we need to have multiple diverse perspectives about how the system works, how our customers use that system, what kinds of pressures and constraints exist within our company that allow us some possibilities over others. We need to bring all of those perspectives together to get a more reflective picture of what was actually happening before this incident took place and how we actually got here. This reframing helps a lot of people disarm that initial defensiveness response or that initial, oh, shoot; I'm going to get in trouble for this kind of response. And it says to them, "Hey, you're a part of this bigger system of work. You are only one piece of this puzzle. And what we want to try and do is understand what was happening within the company, not just what you did, what you said, and what you decided." So once people realize that you're not just trying to find fault or place blame, but you're really trying to understand their work, and you're trying to understand their work with other teams and other vendors, and trying to understand their work relative to the competing demands that were going on, so those are some of the things that help create psychological safety. About ten years ago, John Allspaw and the team at Etsy put out The Etsy Debriefing Facilitation Guide, which also poses a number of questions and helps to frame the post-incident learnings in a way that moves it from the individual and looks more collectively at the company as a whole. And so these things are helpful for founders or for CEOs to help bring forward more information about what's really going on, more information about what are the real risks and threats and opportunities within the company, and gives you an opportunity to step back and do what we call microlearning, which is sharing knowledge about how the system works, sharing understandings of what people think is going on, and what people know about the system. We don't typically talk about those things unless there's a reason to, and incidents kind of give us that reason because they're uncomfortable and they can be painful. They can be very public. They can be very disruptive to what we think about how resilient and reliable we actually are. And so if you can kind of step away from this defensiveness and step away from this need to place blame and instead try and understand the conditions, you will get a lot more learning and a lot more resilience and reliability out of your teams and out of your systems. VICTORIA: That makes sense to me. And I'd like to draw a connection between that and some other things you mentioned with The 2022 Accelerate State of DevOps Report that highlights that the people who are often responding to those incidents or in that high-stress situation tend to be historically underrepresented or historically excluded groups. And so do you see that having this insight into both who is actually taking on a lot of the work when these incidents happen and creating that psychological safety can make a better environment for diversity, equity, inclusion at a company as well? LAURA: Well, I think anytime you work to establish trust and transparency, and you focus on recognizing the skills that people do have, the knowledge that they do have, and not over assuming that someone knows something or that they have been involved in the discussions that may have been relevant to an incident, anytime you focus on that trust and transparency you are really signaling to people within your organization that you value their contributions and that you recognize that they've come to work and trying to do a good job. But they have multiple competing demands on their attention and on their time. And so we're not making assumptions about people being complacent, or people being reckless or being sloppy in their work. So that creates an environment where people feel more willing to speak up and to talk about some of the challenges that they might face, to talk about the ways in which it's not clear to them how certain parts of the system work or how certain teams actually operate. So you're just opening the channels for communication, which helps to share more knowledge. It helps to share more information about what teams are doing at different points in time. And this helps people to preemptively anticipate how a change that they might be making in their part of the system could be influencing up or downstream teams. And so this helps create more resilience because now you're thinking laterally about your system and about your involvement across teams and across boundary lines. And an example of this is if a marketing team...this is a story that Nora tells quite a bit; if a marketing team is, say, launching a Super Bowl commercial for their company but they don't actually tell the engineers on-call that that is about to happen, you can create all sorts of breakdowns when all of a sudden you have this surge of traffic to your website because people see the Super Bowl commercial and they want to go to the site. And then you have a single person who's trying to respond to that in real-time. So, instead, when you do start thinking about that trust and transparency, you're helping teams to help each other and to think more broadly about how their work is actually impacting other parts of the system. So from a diversity and inclusion and underrepresented groups perspective, this is creating the conditions for more people to be involved, more people to feel like their voice is going to be heard, and that their perspective actually matters. VICTORIA: That sounds really powerful, and I'm glad we were able to touch on that. Shifting gears a little bit, I wanted to talk about two different questions; so one is if you could travel back in time to when Jeli first started, what advice would you give yourself, your past self? LAURA: I would encourage myself to recognize that our ability to experiment is fundamental to our ability to learn. And learning is what helps us to iterate faster. Learning is what helps us to reflect on the tool that we're building or the feature that we're building and what this actually means to our users. I actually copped that advice to myself from CEO Zoran Perkov of the Long-Term Stock Exchange. They launched a whole new stock market during the pandemic with a fully remote team. And I had interviewed him for an article that I wrote about resilient leadership. And he said to me, like, "My job as a CEO is 100% about protecting our ability to experiment as a company because if we stop learning, we're not going to be able to iterate. We're not going to be able to adapt to the changes that we see in the market and in our users." So I think I would tell myself to continually experiment. One of the things that I talk to our customers about a lot because many of them are implementing new incident management programs or they're trying to level up their engineering teams around incident analysis, and I would say, "This doesn't have to be a fully-fleshed out program where you know all of the ways in which this is going to unfold." It's really about trying experiments, conduct some training, start small. Do one incident analysis on a really particularly spicy incident that you may have had or a really challenging incident where a lot of people were surprised by what happened. Bring together that group and say, "Hey, we're going to try something a little bit different here. We'll use some questions from the Howie Guide. We'll use the format and the structure from the Etsy Debriefing Guide. And we're just going to try and learn what we can about this event. We're not going to try and place blame. We're not going to try and generate corrective actions. We just want to see what we can learn from this." Then ask people that were involved, "How did this go? What did we learn from it? What should we do differently next time?" And continually iterate on those small, little experiments so that you can grow your product and grow your team's capacity. I think it took us a little bit of time to figure that out within the organization, but once we did, we were just able to collaborate more effectively work more effectively by integrating some of the feedback that we were getting from our users. And then the last piece of advice that I would give myself is to really invest in cross-discipline coordination and collaboration. Engineers, designers, researchers, CEOs they all have a different view of the product. They all have a different understanding of what the goals and priorities are. And those mental models of the product and of what the right thing to do is are constantly changing. And they all have different language that they use to talk about the product and to talk about their processes for integrating this understanding of the changing conditions and the changing user into the product. And so I would say invest in establishing common ground across the different disciplines within your team to be able to talk about what people are seeing, to be able to stop and identify when we're making assumptions about what other people know or what other people's orientation towards the problem or towards the product are. And spend a little bit of time saying, "When I say this is important, I'm saying it's important because of XYZ, not just this is important." So spending a little bit of time elaborating on what your mental model is and where you're drawing from can help the teams work more effectively together across those disciplines. VICTORIA: That's pretty powerful advice. You're iterating and experimenting at Jeli. What's on the horizon that you are...what new experiments are you excited about? LAURA: One of the things that has been front and center for us since we started is this idea of cross-incident analysis. And so we've kind of built out a number of different features within the product, being able to help tag the incident with the relevant services and technologies that were involved, being able to identify which teams were involved, and also being able to identify different kinds of themes or patterns that emerge from individual incidents. So all of this data that we can get from mostly just from the ingested incident itself or from the incident that you bring into Jeli but also from the analysis that you do on it this helps us start to be able to see across incidents what's happening not just with the technical side of things. So is it always Travis that is causing a problem? Are there components that work together that kind of have these really hidden and strange interdependencies that are really hard for the team to actually cope with? What kinds of themes are emerging across your suite of opportunities, your suite of incidents that you've ingested? Some of the things that we're starting to see from those experiments is an ability to look at where are your knowledge islands within your organization? Do you have an engineer who, if they were to leave, would take the majority of your systems knowledge about your database, or about your users, or about some critical aspect of your system that would disappear with all of that tacit knowledge? Or are there engineers that work really effectively together during really difficult incidents? And so you can start to unpack what are these characteristics of these people, and of these teams, and of these technologies that offer both opportunities or threats to your organization? So basically, what we're doing is we're helping you to see how your system performs under different kinds of conditions, which I think as a safety and risk professional working in a variety of different domains for the last 15 years, I think this is really where the rubber hits the road in helping teams be more reliable, and be more resilient, and more proactive about where investments in maintenance, or training, or headcount are going to have the biggest bang for your buck. VICTORIA: That makes a lot of sense. In my experience, sometimes those decisions are made more on intuition or on limited data so having a more full picture to rely on probably produces better results. [laughs] LAURA: Yeah, and I think that we all want to be data-driven, thinking about not only the quantitative data is how many incidents do we have around certain parts of the system, or certain teams, or certain services? But also, the qualitative side of things is what does this actually mean? And what does this mean to our ability to grow and change over time and to scale? The partnership of that quantitative data and qualitative data means we're being data-driven on a whole other level. VICTORIA: Wonderful. And it seems like we're getting close to the end of our time here. Is there anything else you want to give as a final takeaway to our listeners? LAURA: Yeah. So I think that we are, you know, as a domain, as a field, software engineering is increasingly becoming responsible for not only critical infrastructure within society, but we have a responsibility to our users and to each other within our companies to help make work better, help make our services more reliable and more resilient over time. And there's a variety of lessons that we can learn from other domains. As I mentioned before, aviation, healthcare, nuclear power all of those kinds of domains have been thinking about supporting cognitive work and supporting frontline operators. And we can learn from this history and this literature that exists out there. There is a GitHub repo that Lorin Hochstein has curated with a number of other folks with the industry that points to some of these resources. And as well, we'll be hosting the first Learning From Incidents in Software Engineering Conference in Denver in February, February 15 and 16th. And one feature of this conference that I'm super excited about is affectionately called CasesConf. And it is going to be an opportunity for software engineers from a variety of organizations to tell real stories about incidents that they had, how they handled them, what was challenging, what went surprisingly well, and just what is actually going on within their organizations. And this is kind of a new thing for the software industry to be talking very publicly about failures and sharing the messy details of our incidents. This won't be a recorded part of the conference. It is going to be conducted under the Chatham House Rule, which is participants who are in the room while these stories are being told can share some of the stories but not any identifying details about the company or the engineers that were involved. And so this kind of real-world situations helps us to, as I talked about before, with that psychological safety, helps us to say this is the reality of operating complex systems. They're going to fail. We're going to have to learn from them. And the more that we can talk at an industry level about what's going on and about what kinds of things are creating problems or opportunities for each other, the more we're going to be able to lift the bar for the industry as a whole. So you can check out register.learningfromincidents.io for more information about the conference. And we can link Lorin's resilience engineering GitHub repo in the notes as well. VICTORIA: Wonderful. Well, I was looking for an excuse to come to Denver in February anyways. LAURA: We would love to have ya. VICTORIA: Thank you. And thank you so much for taking time to share with us today, Laura. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter @victori_ousg. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening. See you next time. ANNOUNCER: This podcast was brought to you by thoughtbot. thoughtbot is your expert design and development partner. Let's make your product and team a success.Special Guest: Laura Maguire.Sponsored By:thoughtbot: Are you an entrepreneur or start-up founder looking to gain confidence in the way forward for your idea? At thoughtbot, we know you’re tight on time and investment, which is why we’ve created targeted 1-hour remote workshops to help you develop a concrete plan for your product’s next steps. Over four interactive sessions, we work with you on research, product design sprint, critical path, and presentation prep so that you and your team are better equipped with the skills and knowledge for success. Find out how we can help you move the needle at: tbot.io/entrepreneursSupport Giant Robots Smashing Into Other Giant Robots

Dr. Anne Latz is Co-Founder and Chief Medical Officer at Hello Inside, a company that specializes in scientific self-care. Will talks to Dr. Latz about why glucose?, being a business-person first and what drove her to become a medical doctor, and where she sees wearable technology going in the in the next 5-10 years. Hello Inside Follow Hello Inside on Instagram or LinkedIn. Follow Dr. Anne Latz on LinkedIn. Check out her Linktree! Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: WILL: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Will Larry. And with us today is Dr. Anne Latz, Co-Founder and Chief Medical Officer at Hello Inside, a company that specializes in scientific self-care. Anne, thank you for joining us. DR. LATZ: Thank you for hosting me today, Will. WILL: Yeah, I'm excited to talk about Hello Inside. And let's start there; give us a quick summary about Hello Inside. DR. LATZ: So we are a German-Austrian startup, so we are based all over Europe, actually, all over the world, I have to say. And we help people by means of technology to understand their bodies best so to really become an expert of their bodies. And the technology we use is not only a smartphone app that shows data but a sensor that's called continuous glucose monitoring sensor that's like a little window you put on your arm that shows you in real-time your glucose data. And we at Hello Inside have then an app and the service around that that really helps you to understand your data and become an expert of your body because this data really gives you immediate feedback on what you do in the sense of eating, moving, but also how well you slept, how stressed you are. WILL: Wow, that's really neat. You said you had the continuous glucose monitor. The body is so complex, and there are so many ways that you probably could measure activity of the body. Why the glucose portion? Why are you doing glucose? DR. LATZ: I think that there are two, maybe even three, reasons to that. The first one is we do not have so many tools like biosensors or technology on the market, which enable us to give really continuous data on different biofluids or markers in the body. So the first one is just that the market here is quite mature because we usually know glucose from the context of diabetes patients, and the technology has been developed years and years ago for those people. And that's why we have really, really good technology, really good sensors, which have high accuracy. The prices get lower and lower, so more and more people can really access this technology. And we just know already a lot about glucose management. The second is it's a super, super potent marker. So I'm a medical doctor from my background. And I do not know so many markers in the body; maybe it's the heart rate variability or pulse that give us really immediate feedback to so many lifestyle pillars. So I think eating is quite intuitive that it does something to our blood glucose, but also movement does, also sleep and stress. And all these pillars immediately affect us, and we often know that. But this marker really gives us a take on how we can really visualize in the moment and then create a change from that. And the third is probably that it's just a really hot topic, the glucose monitoring, currently, and that's actually not a good thing. But we have really not only an obesity epidemic but really a metabolic health crisis. So a lot of people have problems with their glucose levels, not aware of it. A lot of people have, in general, problems with managing; yeah, I would say, their metabolism and have an energy crisis in their body. You could put it like that. And that's why we are really interested in glucose because if you manage glucose in the sense that you stabilize it, you can really improve your health in the short term and how much energy you have, midterm in the sense of what your weight is, and of course, long term to prevent diseases like diabetes or heart disease. WILL: Yeah, definitely. I think you're correct; you know, glucose is the one thing, especially for me, it's diabetes, and I know it in that direction. But also that after lunch drag that you hit, the wall that you hit whenever your glucose spikes and then it comes down and spikes, I mean, then crashes. I think that's the other direction people understand glucose from. DR. LATZ: Yeah, for sure. I mean, you bring up a great example, like the food coma after lunch. Everybody knows that, like, this energy and fatigue in the afternoon. But, I mean, you seem to be a little bit familiar with the technology, but a lot of people do not even connect the dots. They cannot really bring together what they eat and their behavior, for example, at lunchtime, how it really impacts them hours later. And what we love so much about the technology and what we can also use the Hello Inside servers a lot for is really to find out what you do, like, what you think is healthy often. A good example is a smoothie you drink that might spike your blood glucose, but you don't really understand it because you thought it was a healthy choice. So it gives me more nuance as to what is healthy for you because it's...and we didn't even stress that, but it's also highly personalized. So you and I would eat the same lunch, and we would react completely differently to it. So there's so much actionable data from it; that's what we love. And yeah, it's a little bit like running a lab test every few minutes of the day [chuckles] and give you the responses really on your smartphone to your hand and also some alternatives of how to create change there. WILL: Yeah, definitely. And I'm glad you brought that up because one of the questions I had for you is, with Hello Inside, how do you see it combating the bad advice around self-care and dieting when you're getting great scientific data? It's kind of hard to argue with the data and the numbers. DR. LATZ: For sure, yeah. I mean, we all know health, wellness, lifestyle. It all gets very close together, which has good sides and bad sides. But of course, people are still so confused in what is really good for them and their bodies. Because healthy, yeah, it's not a very specific term, especially in, let's stay with the example of food, what you put in, and different diet regimes you have. We see that there's so much frustration also in the market because all these one-size-fits-all recommendations in diet regimes or fasting regimes do not work for all people. And that's really why these personalized approaches, and as you say, data-driven approaches, are so crucial because then you really get power back in trusting your body and understanding how your personal health and well-being is really influenced. At the same time, it's super hard because some of these trends and fad diets have existed for a long time and have a huge community who really love them. But we see it really as a conversation, like a conversation we have with the users, but also a conversation that users have with their bodies. Because we know that creating change, especially behavior change, is like the holy grail for all health and also weight management tools. But it's also something that just takes a little longer because you need some experimenting. You need to find out what really works for you. But I'm quite convinced that when you see the data that's based on your body, that's something that you do not forget. If you see the foods that really spike you, surprisingly, this is really powerful. WILL: Yeah, definitely. And I can understand the benefit of it, especially, you know, you're working out two weeks, and your body really is not showing you any signs of change. But I can see how this could help in showing you the change, even if it's small, how you can say, hey, you're on the right track. DR. LATZ: Exactly. Yeah, it's like these small nudges. I mean, it's a monitor that already shows you the shortcuts and the little tweaks you make. For a lot of people, I always say if you find one food, one spiking element in your day and change that for the rest of your life, that's so much. For a lot of people, it's already in the breakfast. They jump on the blood glucose rollercoaster in the morning because they eat maybe porridge without any added protein to it. So it is very carb heavy, and they think it's super healthy and drink the oat milk latte. I mean, in general, there's nothing wrong with those foods, but you can combine them even better and add something to it and not really eliminate stuff but just add a nice mix of protein and fat to your carbs. And you will be so much fitter during the day. You will not have this huge spike putting you on the roller coaster in the morning. As we are very habitual people, I mean, people eat like 60 different foods per week, which is not a lot; once you find out what really works for you, that's super, super nice for the rest of your life. WILL: Yeah, definitely. And to be honest, I have been guilty of, oh, I just ate a very healthy meal. And then I go back and look at the nutritional facts, and I was like, what did I just eat? Because this was not healthy. DR. LATZ: Yeah, we should always learn and make mistakes and learn again. And it's like a jungle out there. I mean, health, in general, the healthcare market is quite complicated. And I think that doesn't only apply to Germany but definitely to where I'm based but also to the U.S. and all the different markets. And for food, it's the same; I mean, that's a little bit the enemy we all are trying to deal with because the food industry is so powerful. It has so much lobby. And you get so confusing information that this is really what we can use our tools now for to understand what really these, I would say, not always healthy but claimed healthy foods do to us. WILL: So, I have a question around wearable technology. So the last couple of years, there's been a trend of wearable technologies, the Garmins, the Apple Watches. This takes it to the next level. This is way more accurate than any of the wearables. Do you see this as the future in the next 5 or 10 years? DR. LATZ: Yeah, probably in the next 5 or 10 years, we will see even more to it in the sense of personalization. And also, I personally believe that we really have a toolbox here of different markers we use. Maybe some are still invasive, like the CGM you put on your arm that really measures the fluids invasively. But also, there will be an array of other things we can really include into our daily health checks. But this is definitely the next level of, as you said, Garmin and all these tracking tools because now we not only track data and have data, but we make them so actionable because we really put them into an immediate setting. So we can really calculate them now. I'm currently wearing my sensor, and I can have a look at my phone after we've finished recording and see, okay, what happened just now in my body? How did I respond to the setting? Was I super stressed? How is my lunch (because here it is early afternoon) affecting our body? We really had already the switch of not only measuring stuff but making it really approachable, actionable. And yeah, I think CGM will be one of the first tools where we can really make this approachable for the broad public; then, we will have a lot of different markers and sensors to look at. And in respect to glucose management, I really am looking forward to when we get the press announcement of some company that we can also non-invasively and continuously measure blood glucose, which is currently not feasible, and a lot of companies are working on it. So this would be very exciting in the next years. WILL: That's exciting. And I love how complex the human body is. DR. LATZ: Oh yeah. WILL: Like you just said, "How stressed was I?" And you can get that from your glucose level. DR. LATZ: Yeah, it's super complex, and it really takes the time to also figure out what...because just measuring data is not really exciting anymore. Then you have a lot of data, and then you're like, so what? So to really figure how interdependent these lifestyle pillars are of movement, sleep, food, et cetera, that really takes some time, but once you understand it, it makes so much sense. For example, stress is like this fight or flight response we've all heard about, and of course, you need energy for it. And that's why your blood glucose might go up because your body gives you energy to, for example, run away, [chuckles] or be alert. And then always breaking down to why our body does things always helps me to also make sense of the data. WILL: That's amazing. Really amazing. MID-ROLL AD: Now that you have funding, it’s time to design, build and ship the most impactful MVP that wows customers now and can scale in the future. thoughtbot Lift Off brings you the most reliable cross-functional team of product experts to mitigate risk and set you up for long-term success. As your trusted, experienced technical partner, we’ll help launch your new product and guide you into a future-forward business that takes advantage of today’s new technologies and agile best practices. Make the right decisions for tomorrow, today. Get in touch at: thoughtbot.com/liftoff. WILL: So tell me what excites you about Hello Inside, the company. DR. LATZ: I mean, we founded this company with a very clear vision that we really want to help people to become experts of their body and really learn their body's language because this is a quite messed up system. We do not really understand our bodies' signals in the daily life. For example, hunger or thirst, a lot of people cannot really tell what the body is talking to them, so we think it's a super emotional topic. And especially the combination of these really approachable, emotional, real-life moments with newest tech is, I think, an amazing combination because we can reach people really where they are. We can give personalized insights of your personal body. This is also something that makes you so much more reliable and compliant in what you do. Then we can really display the data in a way that you can experientially learn from it. To give you an example, in our Hello Inside app, one of the favorite features of mine is the experiment feature, so you would have a food event. Let's make it super simple, eat an apple and feel your body in the next two or three hours. So that's usually when we take into account the response to that food. And then you compare that to one factor you change, so you eat the apple with some nuts or nut butter. I would suggest to most people, but of course, it's hyper individual, and what extent it changes in the blood glucose response just because you included the nuts, which include fat and protein. You can put these two graphs, these two blood glucose curves together, and you really see the gap between it just from including nuts in your diet. And this is this nice combination of visualization, data-driven insights, and also something where you, I mean, people love to take pictures of their food. And that's what you can usually do here. WILL: Wow, that's amazing. You were talking about your story behind using Hello Inside, the CGM. Do you or any of your clients have any success stories that you would like to talk about? DR. LATZ: Yeah, for sure. I mean, we are quite a young company. We launched only in June and are live now in seven European countries. And actually, I have some really, really cool stories. We launched with a very strong focus on women's health. So we have developed a program which is called Hello Hormones, which helps women along the cycle via the Hello Inside app. And this continuous glucose monitor really improves symptoms like PMS, which can be like bloating, pains, et cetera. And a lot of women didn't really understand (And how would they?) that your body has a very variable response to foods depending on the menstrual cycle. To visualize that, a very simple example would be eat in the first half of your cycle, before your ovulation, a banana, and eat the banana in the second half of the cycle. And I can promise you; you will have a different response to it which is super physiological. It has to do with insulin sensitivity. But you cannot really make sense of that (You feel differently in the phases.) which you now can really do when you saw in the data, really compared it, that you have higher levels of blood glucose maybe in the second half. And you can make small tweaks which help you then to really increase well-being also in the second phase of the cycle before you have your period, which can be by reducing inflammation by changing how you move during that time, et cetera. And this is what a lot of people, a lot of women, resonated with trying out the program. And then, of course, we have these super nice glucose hacks you might have heard about also, where some of my favorites are definitely also always connecting what you eat with movement, so moving your muscles after your meal. And I would say daily, we have such a high blast of user-generated content because people try it out, try the hacks, and then share their blood glucose response with us on social media. And this is so crazy to see. Also, people who are really into their bodies say, "I have these aha moments all the time just because I now understood, okay, it makes sense to have this type of breakfast. It makes sense how I eat my carbs, in which order I eat my food." We have next to the social media content also some coaching sections we offer for our clients where we also hear a lot of those stories that they're really often so, so surprised and so happy that they finally made sense of their body signals. WILL: Yeah, that's amazing. I'm a science geek; I'm just going to say it. DR. LATZ: [laughs] WILL: So I love how you can run your own scientific hypothesis and stuff. Like, you eat a banana at this time, how did it affect me? Okay, at this time, let me eat another banana. I just love that aspect because I don't think we have anything accurate enough right now that I know of besides actual drawing your blood in the lab or something like that that can actually give you that type of information. DR. LATZ: Yeah, and especially if you take a lab just like once a month or once a quarter, then it's also really like a snapshot of the situation and might even have depended on how much did you drink? How was the night before? Like, what did you eat? And put some markers even there. And now you really have the ability to make it, yeah, it's a little bit more playful. Because of course, we recommend experiments you can make, start with an apple, eat the chocolate, do the pasta versus the rice. But then you can customize it because it doesn't make sense to do experiments and try stuff out that you would never do in your daily life. So we always recommend start from where you really are. Wear the sensor for two, three days, just observe, and then look at what you really think is the problem for you. For a lot of people, it's the afternoon fatigue. So what could be the labor here? Where can we make a small change? And then you really, as you say, a little bit of research on your own body and experiment around and tweak here, tweak there and that's the nice part. Then you come to changes that you also stick with. This is what we have also seen on our team, which are like the early adopters, and we worked on it for over a year. We really see that we get better blood glucose response in the mornings. And we just changed a little bit what order we eat. If we go for ice cream, we just do a walk with the ice cream and all these small things which are really feasible and very, very contrary to what we also have in the diet culture, a lot of restrictive things. You cannot do that; you shouldn't do that. I always say it's very positive psychology; add that, combine it here, do some habits tweaking here. And you can really include that in your life further on. WILL: That's amazing. Let's transition and talk about the starting of Hello Inside. What's the story? How did...because I think it's you and three other founders. How did y'all come about starting Hello Inside? DR. LATZ: We are actually from very, very different backgrounds, but we have had some friends in common and some contacts, and, I mean, as I said, I'm a medical doctor. I have a digital health background. So I worked in digital health and other startups for over three years. My other co-founder is very much into the product and growth marketing. He was with Runtastic, which is now part of Adidas. So he has a sports lifestyle background and also expertise for the product. The other one is responsible for brand and community investor relations. He really built also his own companies before. And the fourth is the tech guy who also worked in a medical startup and had his own agencies. So really, as you see, different backgrounds but very nice combination because we bring a lot of skills together and combine them from very different angles, and yeah, this is also, I would say, our power, and of course, it's also at the same time a challenge because not everybody is familiar in the same depth with the topics. But I think that's often the point with diverse teams that you just have to communicate well to help the other people understand where you're coming from. We have to remind him to make research very understandable and really also explain that the tempo there sometimes is a little bit different, whereas I learn so, so much on what it means to build a product really at a high speed, to really iterate here and there. So when we met, of course, the idea was to do something really with impact, to do something in the healthcare space but not too far into med tech. And we're really, really focused on this preventative field. I mean, you always say there's no glory in prevention. Prevention is super unsexy [laughs] for the individual but also the society, and we really want to change that. Of course, Hello Inside was not Hello Inside from the beginning on then we found the name. And we're super happy with the company name, with the case we can make with looking inside, et cetera. Yeah, we're very much looking forward to building an even bigger company in the next years. WILL: That's amazing. Your background is the medical portion of it. And you have experience in patient care in private and public healthcare, so tell us more about that. Are you still practicing? And how did you get into becoming a medical doctor? What was that drive for you to become a medical doctor? DR. LATZ: To be frank, I was a business person first. [chuckles] WILL: Oh. DR. LATZ: I did first business bachelor, but that was like, for me, ages ago; [laughs] it feels like it. And after I finished my bachelor's, I was like yeah, okay, I want to do something else and applied for medical school, which was never on my mind before. And that's how it all started. I also had the chance to do my master's in business at the same time. So I always was like very open to look left and right. And then, I started working in patient care, just very classical, like in a university hospital in psychotherapy. And I loved it a lot. But also, I was missing something to bring in this more innovative, creative part of my interests. I had the chance in a startup to work at some time in the U.S. It's called AMBOSS. It's an ad-tech startup. That's where I came really in the startup field and understood from a very junior position more and more about what it means to build a company. Then I worked, coming back to Germany, for the ministry actually a little bit in the field of public health and prevention for diabetes. So here you see also how it now very well fits with what we're doing now, but of course, I can only say that now looking back. And I got certified in nutritional lifestyle medicine. And this is also something that really fascinates me a lot, like how these pillars really affect our lives all day, every day. And we do not learn so much also medical school about it, and that's where I learned for myself that this is really why I want to double down on these topics. And a little bit before the first pandemic wave started, I found my way into digital health for a startup, being one of the first employees there, and had two years then to really learn on the market, with the market what it means to create a digital health company, and did my postgraduate certificate in Harvard at that time. So I learned patient safety, quality, informatics, and leadership. And all these puzzle pieces then really fit well together last year when I met my co-founders, and we really iterated the idea more to build a company that combines all that, like, digital health and health and prevention with also metabolic health and lifestyle medicine, and, of course, all the innovative things we didn't know that they exist before and we are now learning on the market with. So this is how it all happened to me, and looking back, it all makes sense. But of course, there were a lot of segues. There were a lot of decisions to make on that journey. WILL: Yeah, which I'm glad you brought up the decisions. That was my next question. What have been some of the toughest times in the startup? And what have been some of the most exciting times in the startup? DR. LATZ: Yeah, I mean, I would even broaden up a little bit because just this week, we will launch a book which is in German but will also be in English soon, which really is quite personal. I wrote it with two other doctors, which is called Beyond Bedside. You could translate it. So we are all medical doctors who left bedside and found some new pathways, and two of us also as entrepreneurs. And we had a lot of those hard decisions to take. I think one of the biggest learnings is always...and I think that also applies well for the startups: what got you here won't get you there. So you need this willingness to unlearn. You need to really understand, okay, now I'm a medical doctor, and I learned a lot, but in the startup, I'm just one of many, and I need to learn from the others. And I need to be really, really humble about what I can and cannot do. I think this is always a problem of running a company. You want to be speedy because that's why you're a startup, but you also, especially in the healthcare space, need to do everything properly. And you have to navigate between really having a high quality, having everything according to guidelines because you're always working with people. It's always something you really need to be responsible of. This is also something that we need a lot of patience for a lot of things. But yeah, in general, I would say we did quite a good job as we are a remote-first company. So it was during the pandemic that we founded the company. We have people all over the world working for us. I mean, that's not really specific for our company. But from what I know from colleagues as well, you just need to communicate, and communicate, and overcommunicate in different time zones to really make everybody really aware of the vision, the mission, repeat it again. And strategic decisions need to be clear to everyone. So we put a high effort also on building a nice company culture and working on our ideas together and also get some on-sites where everybody can meet up. And yeah, this is sometimes really hard when you're so in your daily struggle, and there's so much to do. But then we need to take a step back and really say, okay, we need to invest in building an even better team. WILL: Yeah, definitely. Wow. Wow, wow, wow, that's amazing. You've done medical school. You've practiced, and you've founded. Those are hard. Let's just be honest; those are hard things that you have accomplished, so congratulations on that. DR. LATZ: Thanks, Will. WILL: What has been some of the best advice that you received to help you keep going when those things got hard? DR. LATZ: Do not ask the people who are in the very classical fit for...let me give you an example; I would not ask my chief when I worked in a hospital if I should leave the hospital because people who have always done it like that they would never recommend you to drop out and do something new and be innovative, and maybe also a little bit braver. So maybe the good advice from it would be ask the right people, ask a lot of people. And then, looking back, one thing I really learned myself is also it's really hard times you have, and sometimes it's really you're doubting yourself. You're really overwhelmed. There's a lot going on. Especially those times will be, looking back, the ones that can be your hero story. Those are the ones that make you an even better person in the sense of being a coach for others and also for yourself later on. So you really need those struggles to understand and carve out what really moves your heart and where you really want to be invested. And there's also, and this is probably also still hard for me, saying no to a lot of things. WILL: Hmm, that's really good advice, yes. Especially because you have experience in so many different areas, you can quickly overwhelm yourself by saying, "Yes." So, wow, I really like that advice. So in closing, is there anything else that you would like to share with us or with the audience? DR. LATZ: Maybe something that I observe, I mean, I don't know if it's in U.S. the same, but I could imagine it's like a trend that's going on. Everybody thinks he or she needs to be an entrepreneur, founder, like own something, be by yourself. It's just not for everyone. I think that's okay. And I think that it's great that it's not for everyone. We need all the diverse roles. We need all the diverse employees. And being something for the sake of just being it is not a good motivation. I think that nobody should really try to force him or herself into a role just because he or she thinks it's cool. There are many things you can do in your life and that you really should trust your gut and be also really brutally honest to yourself. And, like, I just want to be really...now it sounds better to say, "I just want to be a doctor," that's great. We need doctors; we need teachers; we need employees. There are so many great jobs, and there are so many days where I wish exactly the same. At the same time, entrepreneurship gives you so much freedom of thinking. You learn so much on the job from other people, from your whole team. So there are many roads in crazy town. [laughs] There are many roads in the world. And this is really something we need to be aware of, this exactly, that it is really, really cool that we can do so many things and have really diverse roles in our society. WILL: I love that advice because I 100% agree with you. Because I think there are people that are CEOs and they love to get out in front of people and talk and sell the company. But then you have a CFO or a CEO that's like, I just want to run the day-to-day, the books, or whatever that is, that's what I'm great at. So I love that advice. DR. LATZ: Yeah, exactly. WILL: Wow. Anne, it's been amazing talking to you about Hello Inside and just getting to know your company and you better. Thank you so much for being on the podcast today. DR. LATZ: Thank you for your great questions, Will. WILL: I appreciate it. You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. You can find me on Twitter @will23larry. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening. See you next time. ANNOUNCER: This podcast was brought to you by thoughtbot. thoughtbot is your expert design and development partner. Let's make your product and team a success.Sponsored By:thoughtbot: Now that you have funding, it’s time to design, build and ship the most impactful MVP that wows customers now and can scale in the future. thoughtbot Lift Off brings you the most reliable cross-functional team of product experts to mitigate risk and set you up for long-term success. As your trusted, experienced technical partner, we’ll help launch your new product and guide you into a future-forward business that takes advantage of today’s new technologies and agile best practices. Make the right decisions for tomorrow, today. Get in touch at: thoughtbot.com/liftoffSupport Giant Robots Smashing Into Other Giant Robots

Stacy Kehren Idema is the Founder and Managing Director of Global Collective, which is revolutionizing how men and women do business. Chad talks to Stacy about the work Global Collective does, starting a company based in the U.K, and the differences between doing business in the U.S. and the U.K. The Global Collective Follow The Global Collective on LinkedIn. Follow Stacy on Twitter or LinkedIn. Follow thoughtbot on Twitter or LinkedIn. Become a Sponsor of Giant Robots! Transcript: CHAD: This is the Giant Robots Smashing Into Other Giant Robots Podcast, where we explore the design, development, and business of great products. I'm your host, Chad Pytel. And with me today is Stacy Kehren Idema, the Founder and Managing Director of Global Collective, which is revolutionizing how men and women do business. Stacy, thank you for joining me. STACY: Chad, it is a pleasure. How are you today? CHAD: I'm well. I'm well. [laughs] I wasn't going to bring it up, but since you asked, I feel like whenever someone asks that question, I feel like I need to give an honest answer. STACY: Of course. CHAD: Because I think, so often, we don't answer honestly. We just sort of...so what's going on in my life right now is, unfortunately, even though we got our fourth boosters three weeks ago, my wife tested positive for COVID yesterday. STACY: Oh no. CHAD: And so she feels fine. She feels mostly fine. But we have kids and everything, so it throws a huge wrench into life right now. We're very fortunate that we've got vaccines, and it'll be mild and everything, but it is a big wrench in our life. STACY: It is. CHAD: Today, tomorrow, for the next week, so... STACY: I'm sorry. CHAD: Yeah, so she's in a different part of the house, quarantining away from all of us, and we're hoping for the best. STACY: Me too. CHAD: We could probably do a whole hour around how life is for all of us right now, coming in this different stage of the pandemic. I hesitate now to ask you, how are you today? [laughs] STACY: I'm here in London, so, for me, it's the end of my day. And fortunately, I haven't had COVID in a few months. But I know that experience and being even alone was enough to put a wrench in everything. So I get it. CHAD: Yeah. Yeah. Well, let's get back to Global Collective. I gave just a brief snippet. But can you tell people a little bit more about what it is you're actually doing? STACY: Yes, I would be honored. So the mission of The Global Collective is to revolutionize really how investment companies invest in female-founded and led businesses, and there are three key areas of that. It's really about changing gender perceptions by actually connecting the unique strengths of each gender. And if you were to even remove the gender piece, it's really talking about the core masculine and the feminine energies of how and what resides in all of us. How can we bring more of the flow and the creativity into business? The mission is also designed to eliminate the diversity gap. How can we make things better, more equitable, easier both for the men and the women, you know, going back to the genders? And something that's very near and dear to my heart is really about increasing the financial benefit and, frankly, the mental well-being in business because one thing that we don't talk enough about is the impact that mental health can have not only on our personal life but on business and vice versa. And I think it's starting to come out more and more. But with founders, with entrepreneurs, and with executives, that mental illness journey has actually increased, and there are some really interesting statistics on it. So, how can we make it a non-shaming conversation? And how can we actually help each other in this area? So the mission is really about transforming business into something different that I think we're all feeling the need for. And how it actually came about was from my 50 years of business and personal experience. I was born into business owners, into a family of business basically. My first husband was a generational business owner and had the hard position to be in, and he had to choose family over business. And then I, in my corporate career, had a really long tenured corporate career. I worked 26 years in companies as small as 40 as well as at Fortune 7 companies where we even did new initiatives, new businesses, startups within those. And modestly, most of my time was actually spent with male executives. And I'm a woman in business. I've been in business a really long time. So that's a little bit about the mission and how The Global Collective came about. CHAD: You're not the first guest we've had on the show that's talked about these issues. But I'm curious because it is more of a conversation right now. It's something that we've been talking about on the show. Is there something that people in that environment that maybe people still don't realize or that you need to just reiterate over and over again here are the challenges, here are the differences, here's what's happening in the real world right now? STACY: Specific to the mental health piece? CHAD: Either the mental health piece or just women in business and what it's like for them. STACY: Well, I think this is where I love to talk a little bit about the extremes and where those extremes are actually very similar. I believe that men feel like there's this weight of the world on their shoulders and that they have to provide, and serve, and do. And I also believe women do as well, you know, provide for their family, protect for their family. For many women, they may even be a single parent, and with that, they want to be able to go out and provide for themselves and do. So you have this desire, this deep desire to do both of those things differently, yet, we're going at it both parallel. And at some point, I think the convergence and really where things start to explode in a beautiful way is when we get to come together. Because if we go about it in a very myopic fashion, we often miss the things that are going on around us that could be a benefit. So from a very specific where I'm very focused on in the venture capital and investment space, so much of what has happened over the course of business time, if you will, and when venture capital investments started, which is, you know, I would imagine hundreds and hundreds of years, it has been mostly men that have done that investment. And when you look at the world as it exists today, it is mostly men that...I don't want to say control the money, but they're the ones in that business. So when you continue on doing the same thing that you've always done and you don't do anything new, that's telling us a couple of things: you don't know how, or you're afraid. And women, on the other hand, are going about doing their thing, working really, really hard. They're probably even more so working harder because it takes longer for them to earn just as much as a man. If they get funded, it takes longer to get funded, and then they actually get less, but they get to that point. And in the meantime, they've had to either endure additional risks to their family by not spending time with their family, or giving up their family and focusing on the business, or focusing solely on their family and giving up the business. So we don't have to do things the way that we're doing them now. And the other element, and where the mental health piece comes in, is this thought that we still have to do these things in these linear ways when we can actually come together and learn the beauty of what men do well in business and the beauty of what women do well in business, and figure out how to do it differently. CHAD: You mentioned you have a lot of experience working for other companies. So I'm curious, when did you start to feel like you needed to do something to solve this problem and potentially create a new company around it? STACY: I've always had a deep desire to do business differently. And what I didn't know at the time in my corporate career was why I didn't feel like I fit in. Having grown up in that business world and knowing what it was like before cell phones and you still had your landline, and a Sunday evening, the telephone rings, and you're sitting at dinner, and your parents dare not answer the phone because the phone will keep ringing until somebody answers. That's just how it happened in the small town I grew up in. Knowing that stress and that pain and watching them go through that to being married to a small business owner, and then being in the rooms and the spaces of the people and hearing the stress and the pain, there was this thing that followed me all the way through that knew that business had to be done differently. And I attempted to insert it a lot in my corporate career, and for most, because I wasn't a box-checker, I didn't fit in. But the deep desire to finally do it differently was in 2019 when I was made redundant. I had been working and doing coaching on the side, and it was my goal to finally go into business for myself. But in 2020, I divorced myself and decided to take myself on a journey. My children are a little older; they're in their early 20s. And I decided to just kind of come back to myself and understand what did I need to do this business for me and to do with what was deeply passionate within me. And could I do it in another country? So in 2021, I spent six months in London and, as part of that journey, did some work for a woman who owns a diversity, & inclusion, and belonging company. And through that experience and listening to her, along with a few other women, talk about that journey to get invested, there was something inside of me that just clicked. It was as if I was reliving sitting in front of capitol committees in my corporate world and listening to the same stories. I'm like, you know, that's just not how things have to happen. It was that moment that I knew it wasn't for me just about helping the women in business and helping them scale their business; it was something bigger than that because, in order to do that, to make that change, and to really make a meaningful change, you have to bring the men along for the journey. You have to help them. I know there are many men out there that are all for women-owned businesses, co-founded businesses, women-led businesses, and many of them come to me privately and talk to me about it. And my response is I need you not to tell me; I need you to show me. And with that, I've also learned that many of them are afraid. They're afraid to do something different, which tells me that we have to create a space for both the men and the women to thrive. Otherwise, we'll just keep spinning our wheels and doing the same thing over and over again. And it will be far more difficult to get to where we need to get to than how we can get to where we want to go doing it a different way. CHAD: So, what does the work Global Collective does look like? Is it coaching? Is it more than that? Is it different than that? STACY: My end vision, the bigger vision, is really this end-to-end ecosystem. So there are roughly five elements or five stages of a business idea: start, sustain, scale, and exit. The focus right now is on the scale and working through pilots with investors and with women in business to learn what and how we do it differently. Coaching will be a component of it, the mental health journey and navigating how that works for the founder and the business owner executive also becomes part of it. But it also is extensive external networks and communities that we bring into that ecosystem that can support both the investors and their journey and the women in business and their journey. Because the other elements that I have learned along the way is when these investors invest in these all-male-led firms, they don't even know how to help those businesses diversify. They themselves even know and have that challenge. Let's take, for example, a woman founder who would like to go on maternity leave. It's more often that she will leave that business because the pressure from the investors to stay in the business and choose business over family is great. Wouldn't it be fantastic if there was a collection of fractional C-suite individuals that get to come in and help that business along on that journey? And not only does the female founder get to be part of deciding who and what will be taken on and for how long, but the investor and the business. And then that way, everyone is along on that journey and is in agreement of what's going to happen. So there isn't that pressure to have to choose between business and family for anyone. CHAD: I guess that's part of where the collective idea and name comes from. STACY: Yeah. CHAD: That's great. You mentioned you moved to the UK as part of this journey. Are you working with companies primarily focused on the UK, or are you doing it globally? STACY: My focus right now is the U.S. and the UK. So I actually started a brand new business. I secured my own visa. And as part of that visa, I had to start a new business, which was this business. So yeah, the primary locations right now have been UK and U.S. If an opportunity came up in a different country, that would be fantastic, exciting, but that's where I've been focused are in those two areas. CHAD: When thoughtbot was getting started in Europe, like most locations that started for us, it was driven by someone who was from there originally and wanted to go back. So when we were getting started, me and my family...my wife was working for a company based in France at the time, and so we were able to go over for the summer. The kids were out of school for the summer. And so we spent several months there, and we loved it. And we're fully remote now, but when we had an office there, I would go about once a month. There's probably a small list of places where I could see myself living [laughs], and that's at the top of the list. Was that the case for you? Did something particularly resonate for you? STACY: You know, I had never been to Europe. And when I was looking at where I would go, I wanted a place that would be culturally diverse. I wanted a place where I could learn, just even be more immersed in history, and feel safe as a single woman in a foreign country. I'm grateful for my family. They're always very concerned about me, and frankly, so are my boys. Having two young adult men, I worried about them, but now they worry about me has started to come into play. For me, it was really about where can I be that would be safe, culturally diverse, and allow me the ability to travel, and to your point, to just go explore new things, really to take a different perspective even outside of the gender diversity piece, the cultural, the language, all of those things? And so this place is home, and I didn't know that when I set off. I thought it just would be; I'll go see how it is for three months. And then I wasn't even here a week, and I said three months wouldn't be enough and stayed six. And it was about five weeks into that journey that I said six months won't be enough; I need to be here longer. And then that's when I did more due diligence from the visa standpoint. MID-ROLL AD: Now that you have funding, it's time to design, build, and ship the most impactful MVP that wows customers now and can scale in the future. thoughtbot Liftoff brings you the most reliable cross-functional team of product experts to mitigate risk and set you up for long-term success. As your trusted, experienced technical partner, we'll help launch your new product and guide you into a future-forward business that takes advantage of today's new technologies and agile best practices. Make the right decisions for tomorrow today. Get in touch at thoughtbot.com/liftoff. CHAD: Is there anything that either has stood out to you or surprised you about differences between business in the U.S. and the UK? STACY: It's fascinating to see how much they complain. The U.S. and the UK complain about each other and their work standards, yet how much they like what each other does. So I would say some of the biggest differences is that the city truly never seems to sleep, yet they definitely take time away from work and business and are very family-focused. That's probably some of the biggest things that I have learned as part of it, and especially having grown up in the culture that I grew up in, in corporate, where it was very much the grind of the nine-to-five plus. So there are some slight differences. I think, if anything, there's just so much more culture and people here that have come from so many other different parts of the world that that's probably the thing that I noticed the most. CHAD: Do you think that the work you're doing is ready to be received more or less in either of the places? STACY: I think different parts of it are more ready to be received in different parts in each country. CHAD: Can you tell me more about that? STACY: Yeah, there's probably more heavy gender influences here in the UK, especially with Scandinavian countries that are much more gender equitable. So I think that piece is very much a belief here. And there are other elements that support both sets of parents from a family standpoint in this country. So I think that is more readily received. I also do know that women-owned businesses are significantly less here and certainly less from getting funded. I think that's where the U.S. is further ahead in that game. However, the number of businesses that are started by women are significantly more than what they are here. It becomes more about who's louder with certain pieces. I think the U.S. is louder in that area. I think the UK is more open and receptive. CHAD: One of the things that I learned about investment in general between the U.S. and the UK is there's not, I mean, it's just not as big of a place as the U.S. The amounts are often less. And I'll say, speaking a little bit more generally, I would say people in the UK, investors in the UK, are a little bit focused on different things. They're maybe a little bit more risk-averse, or they're focused on different markets. So the investment community is a little bit different between the two different places. Does that make the opportunity for founders, particularly women founders, any different between the two different places? STACY: From the research that I've done through some interviewing with investors and then the research I've done on my own, there's a lot of little, smaller type of investment for female founders in the U.S. than there is in the UK. But that said, one thing that seems to be very prevalent is how much Europe, in general, talks about London being the epicenter for Europe and investment. You're asking a great question that I hadn't thought about in that framework. CHAD: Yeah, and I don't know the answer either [laughs], so... STACY: What I do know is in the U.S., there are more female-founded investment companies and female-led. However, I do know many of them are very much sticking to U.S. companies. But what I do know is that the UK is starting to leverage more and work in more partnership with U.S. investment companies. CHAD: So if I am an investment firm, chances are that my entire, especially the leaders in the firm, are probably all men, maybe not, but if not all men, then the majority. So if I was sitting in that seat, how do we get started on this journey? Contact you? [laughter] STACY: Yeah, contact me. [laughs] Honestly, it begins with a conversation. This is the really interesting piece that I don't think that we've yet talked about is women believe that men have control of all the money. And while they may be the ones that are leading more of these investment firms, it's not just up to them, if you will. There is this piece of the puzzle that, yes, we have these male-led investment firms, and they have repeatedly invested in mostly male-led businesses. But we have these women who have these beautiful businesses. Women are known for going to market with products and services that have fewer competitors in the market because 70% to 90% of consumer buying decisions around the globe are made by women. And so when they're out there buying and they see a gap, that's where a lot of these women start these businesses is based off of this gap that they see in the market, but they do have the power. How can I, as part of this...and even the men because I know I wouldn't be where I am today without the male mentors and influencers in my life encouraging me to be bolder and to be better. And they could see in me some things I wasn't yet willing to acknowledge. We, women, have to do the same for each other. We have to help each other be bolder, be braver, not assume that we are at the mercy of somebody else; we're not. We get to be in partnership with each other as women, and we get to go have these conversations with these men. So I think that's the part that's missing in that. So back to your question about if men want to get started in this, what do they do? Contact me, yeah, because let's start to have a conversation. There are so many men that know that they want to do different; they just don't know how. And when they do even see a woman come through the door, it's most often as a co-founder. They're not even sure what to do different to attract more of that. So that's when we get to talk about what is it that they're doing today? Where are they going to look? Who are they calling in? And how does that change their business? Because, at the end of the day, it's not as easy as just investing in women-owned businesses. And I get this question a lot; the question is, "Hey, Stace, are you going to bring us a list of women-owned businesses that we can invest in?" And my response is always with a smile. However, what I say is "No," or "You would have already done that because the list is already available to you." How they do business will transform. And that's the part that they get to go on this journey with The Global Collective is how do they transform their business as part of that? And that's scary to think. You've done something for so long. You do it really well. You make a lot of money doing it. Yes, there's risk, and as part of this, there's something even greater that would transform how you do business. So it becomes a longer conversation. It's not just about contacting me; I think that's the point I'm trying to get out. [laughter] It's a long-term relationship, and most don't consider that. And I certainly know that women don't either. CHAD: So, speaking of that, what is the flip side of this if I'm a woman thinking about doing something new or already working on something? What do I do to get started with this and position myself differently or better? STACY: It's A, building your network. And this is where it gets really uncomfortable for women because the fear of asking for money from men it's a real fear with this perception that they have control. But it's really our own mindset around money and the fact that there's enough of it available. So how do we create diversity in who we talk with, who we talk to? What is it that we are looking to bring to market? Doing some research but not doing so much that you get caught in your own bubble if you will. I would imagine, Chad, that especially those that you've interviewed and even on your own journey doing this as a founder or even being an executive, it can get kind of lonely. And sometimes we get into that I'm just going to do it, and I'm just going to do it. And I'm going to do it until it's perfect and kind of forget that along the way; we need checkpoints. So for women, it's the mindset factor of going in and doing something different, which means doing things that they've never done before: getting help, getting a coach, getting a mentor, putting together an advisory board, people that will hold you accountable, maybe even see your blind spots. It also is understanding that if you go pitch to one investment company, or one investment firm, or one investor and they say "No," okay, that doesn't mean that it's the end of the world. They just may not be for you at that time. And there's plenty more out there. So keep refining. Keep doing your thing. Continue to build your community. Continue to build your voice. And with that, also know that...and this is even part of my journey. You have to be confident in what it is that you're doing. You don't have to be confident in everything that you have to do to get it done, but you have to be grounded in what it is that you're bringing and what it is that you offer. Because the one thing that isn't talked about enough, and I've heard this enough with investors, is they're actually investing in the person. Yes, they're investing in a business, but they're investing in a person at the end of the day. And that part is overlooked. It's not just bringing something to market to bring it to market if you will. CHAD: I hear that a lot. I think you're absolutely right. And I think that that gets too close, maybe, to what one of the core problems is. I think if investors are used to investing in people rather than the product and the stream of people that they're used to investing in looks a certain way or behaves a certain way, they're making decisions heuristically, oh, this makes a successful co-founding pair, or this makes us successful founder. And when something shows up that doesn't match the rest of what they see or the heuristic that they have, they really aren't able to think that that will be successful. STACY: I know myself even being in the rooms that I've been in and doing the work that I did; this journey has been nothing short of a beautiful journey of learning. And the craziest things have happened, as in, they're more difficult than I would have ever imagined mostly because I got in my own way. Or it has required me to learn the nomenclature that's applicable to the investor world, that's very similar to working with capital committees and finance and corporate. However, they use the word slightly. They use either slightly different words or they use them in a different way. So I've been very lucky. One of my advisors is actually a serial tech entrepreneur who has gone for funding alone half a dozen times, and so even when he and I will sit and talk about things, I continue to learn from him every single time. I said it this way. It would resonate more in this way. Which when you think about that, that doesn't mean I change my story, and my belief, and my confidence, and my grounding, and what it is that I'm bringing; it just means that I'm learning to speak different languages, and/or to be able to assimilate in an easier way. If what I say doesn't resonate with one investor, I can find another way to describe what it is that I'm attempting to describe in a language that might resonate more with him. It's not just about here's my business. Here's how we're going to make money, and the bottom line number says I'm making revenue. It's about the bigger pieces of it. It's about being confident in your story, what it is that you're offering, what it is that your strengths are, frankly. And I think there's a disconnect there. Wow, this could be a whole topic of its own, the perception that the founder has to know how to do everything or that we believe that we have to do everything. And then, what's your staying power in all of this? And I think that's even lost on itself. It's not for the faint at heart. And you learn not to take things personal, and you develop a thicker skin. But you still have to remain rooted in your core values. CHAD: On that note of the misconception or the perception that founders need to know or do everything, there's something that I'm curious about that's sort of an extension of that for you. I've had other guests on the show where they're coming at it from a perspective of a lot of the same issues, but they're focused on getting more founders of color access to investment on both sides of that equation. The language you use is around gender and men and women, but we know there are people that don't fit into those boxes specifically, either. So how have you chosen what you've decided to focus on? And how do you not get overwhelmed from all the sorts of the landscape and how big this problem is? STACY: That's a great question because you're right, and I think about that often. I speak more in the norm, the heterosexual norm, genders. I am starting to talk more about the energies that really take away from the men and the women and really speak more about the masculine and the feminine. For me, that piece of it is where I'm staying focused because it's where I know I can do and make the most impact. However, I believe that when we start to make traction in this way, we also get to make traction from a race and a color...and this is where the corporate culture is starting, I think, to understand and become more well-versed in the masculine and feminine energies. And when you can speak more in that language about the benefits that every single person has regardless of gender, when we get to speak in that language that is more inclusive, then I also believe that we get to include more people, more humans because, at the end of the day, we're all human. That's the one thing that we all [laughs] have in common. We get to speak in that language. But I think the fact that my end vision...the end goal is so big that to your question about how do I not get lost in the rest of it, I know that will come along as part of it. Even though it may not be the language that I use, I know deep in my heart that creating this opportunity and the shift for people to see those perspectives and for me as a founder to also ensure that within my values, I look to have inclusivity in other ways other than gender myself will be of value. And in the meantime, those external...the business partnerships, the other elements of my business and who I get to work with or who we get to work with as a collective will include those that are more well-rounded into the language, and I can learn from them. And we get to do these things together, so I do believe that it comes together. I've really led with that so that I don't get so overwhelmed in attempting to accomplish everything. CHAD: Yeah. And I think the things you're working on feel different than just creating another business or another product like a SaaS product or that kind of thing, but I think a lot of the same principles still apply. And if you come out with something that is meant to be everything to everybody and you're not building from your experience, chances are good you're not going to be as successful as if you could focus and build from your experience and find your niche, and find the people who can help you do what you want to do and have the impact you want to have and then grow from there, as opposed to doing everything all at once. STACY: Yeah, I agree. CHAD: But it's tough because it's hard to say, "No, I'm not working on that now," because it is still important. STACY: It is. The one thing I did, unknowing that this was going to happen but almost three years ago, while in my former life and in my corporate career, I led global teams and worked with different teams across the globe and had a little bit more of that cultural experience. The one thing that I really got hung up on when I first started was figuring out what my niche was because I've had all of that experience. But what I do know is that you get to create your own niche. That was something that took me a really long time to figure out. I was so centered on conforming to what everyone else told me would be my niche. And I knew that there was something missing. And so part of what I do now, which is the beauty of living where I live now because there's so many different pockets of the culture pieces of it, race, religion, and ethnic backgrounds, I get to continue to build my network and my community with that thought in mind of being able to look for partnerships and have conversations, whether I'm here, whether it's those that are in the U.S. now that I have the attention of. It's all those things, and that just makes it better. CHAD: Yeah. Well, if this has resonated with people and they want to find out more, they want to get in touch with you, they want to start that conversation, where should they go to do that? STACY: They will find me...website is globalcollective.global. You will also find me on LinkedIn under Stacy Kehren Idema, as well as on Instagram under stacykehrenidema. CHAD: Stacy, I really appreciate you joining the show and sharing with us. I appreciate the impact that Global Collective seeks to have. And I wish you all the best, I really do. So, thank you so much. STACY: Thank you. It's been a pleasure. Thanks, Chad. CHAD: You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter at @cpytel. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks so much for listening, and I'll see you next time. ANNOUNCER: This podcast was brought to you by thoughtbot. thoughtbot is your expert design and development partner. Let's make your product and team a success.Special Guest: Stacy Kehren Idema.Sponsored By:thoughtbot: Now that you have funding, it’s time to design, build and ship the most impactful MVP that wows customers now and can scale in the future. thoughtbot Lift Off brings you the most reliable cross-functional team of product experts to mitigate risk and set you up for long-term success. As your trusted, experienced technical partner, we’ll help launch your new product and guide you into a future-forward business that takes advantage of today’s new technologies and agile best practices. Make the right decisions for tomorrow, today. Get in touch at: thoughtbot.com/liftoffSupport Giant Robots Smashing Into Other Giant Robots