20Product: Nubank's CPO on Why Product is 90% Science and 10% Art, Why Execution is Overrated and Strategic Clarity is Under-Appreciated, Why You Should Never Fall in Love With Your Own Ideas & Nubank's Biggest Product Challenges Scaling to 80M Users

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Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 29 March 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jag Duggal is the CPO @ Nubank where he is responsible for product strategy and roadmap reporting to CEO David Velez. Jag leads over 200 professionals across different functions within his role. Before Nubank, he was the Director of Product Management at Facebook, leading monetization of video and third party content. Before Facebook, Jag spent close to 7 years at Quantcast as a Senior VP of Product Management & Strategy. Finally, pre-Facebook, Jag was at Google for 5 years as a Group Product Manager and Head of Strategy (Display).

In Today's Episode with Jag Duggal We Discuss:

1. From Cushy Valley Job to CPO @ Brazilian Startup:

Why did Jag leave the life of luxury in the valley at Facebook to join David as CPO @ Nubank?
What does Jag know now that he wishes he had known when he took the position?
What one piece of advice would Jag give to a product leader starting a new position today?

2. Product: The Playbook, Art vs Science:

Why does Jag believe that product is 90% science? What is the final 10%?
Why does Jag believe that you should not listen to your customers?
What is the right way to ask customers questions to determine their pains?
Why does Jag believe that you should not fall in love with your own ideas?

3. Building the Bench: Hiring the Best Team:

How does Jag approach the hiring process for all new product hires?
What are the single biggest mistakes Jag has made when hiring for the product team?
What are the must ask questions when hiring for product?
What hiring lesson did Jag learn from Kevin Systrom? How has he applied it today?
What did Jag believe about hiring that he now no longer believes?

4. Go Time: Build, Manage and Execute:

Why does Jag think execution is overrated and strategy deserves more credit than people give it?
How does Nubank utilise small teams to operate fastest? What have been lessons here?
What are the best ways to do product post-mortems? What works? What does not work?
What has been Jag's best product decision? What has been his worst?

Transcript

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0:00.0	We should never fall in love with our belief or our hypothesis. I think you can make it 90% science.
0:08.4	I actually think it's fairly lazy mantra in Silicon Valley and in tech in general to say
0:13.2	strategies easy and execution is everything. This is 20 Product with me, Harry Stebbings. Now 20 Product is
0:18.9	the monthly show where we sit down with the best
0:20.9	CPO's in the world to discuss what made's great product leaders and what makes great products.
0:26.0	And joining me today is Jack Dugal, CPO at NewBank, where he's responsible for product
0:30.5	strategy and roadmap reporting to CEO David Veles. In this role, Jag leads over 200 professionals
0:36.9	across different functions. And before Newbank, Jagg leads over 200 professionals across different functions,
0:38.3	and before NewBank, Jag was the Director of Product Management at Facebook, leading monetisation
0:43.3	of video and third-party content. But before we dive into the show today, I need your help. I need
0:48.3	your input on the 20 VC Mero board, as I'm booking new guests that we should feature on the show show in 2023. Now this is the only way to make suggestions. Head on over to mero.com forward slash
0:59.9	2.0 VC and leave your suggestions with digital sticky notes or comments. That's
1:04.7	mero.com forward slash 20VC and Miro actually sponsored this episode. For those of you that
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1:16.9	who sign up for Mero every month. It's a visual collaboration platform packed with the right
1:21.7	tools, tech and templates to grow your idea, your product, your vision at scale.
1:30.3	Mero acts as a single source of truth across teams. That means you can get buy in much faster from teams like marketing, engineering, sales, product,
1:35.3	basically anyone who needs to have a say to make growth projects grow.
1:39.3	And even though it seems like a simple digital whiteboard, it's so much more.
1:43.3	Hashing out of sound acquisition strategy brainstorming Mero, rethinking your sign-up float.
1:49.0	Using Mero's user research templates, quickly visualised team structures on a Mero board.
	...

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