20Product: What Facebook, Monzo and Deliveroo Do and Do Not Do To Build Great Products | How to Structure Product Teams For Success | Is Simple Always Better in Product and The Art vs Science of Product Design with Mike Hudack

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4.4 • 637 Ratings

🗓️ 13 September 2024

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Hudack is the Co-Founder and CEO of Sling, a peer-to-peer payments app whose vision is to simplify the way the world connects financially. Previously, he held roles at Monzo Bank as Chief Product Officer, Deliveroo as Chief Product and Technology Officer, and Facebook where he led ads product and sharing product.

In Today's Episode with Mike Hudack We Discuss:

1. Product: Art vs Science:

What is the true art of product? What makes the great product leaders and PMs?
Is simple always better in product? How do you retain product simplicity with time?
When should data be used over intuition in product building?

2. Lessons from Leading Ads at Facebook:

What are Mike's single biggest product lessons from building the ads product at Facebook?
How did a meeting with Mark Zuckerberg discussing a product change, alter how Mike thinks about product today? What makes Zuck so special on product?
What are the biggest mistakes that Facebook made when it came to the ads product?
What did they not do that he wishes they had done?

3. Leading Product at Deliveroo: What I Learned:

What are Mike's biggest takeaways from his time at Deliveroo on how to make consumer products?
What did Deliveroo do from a product perspective that worked so well? What did he learn?
What were the single biggest product mistakes that Deliveroo made? What did he learn?
How fast do you know when a consumer app is working or not working? When do you go against data and follow your intuition?

4. Building the Biggest Bank in Britain with Monzo:

What are Mike's biggest lessons on product building from his time at Monzo?
What did Monzo not do that he wishes they had done?
Why does Mike think the US is crucial for Monzo?
How did Monzo change how Mike thinks about competition? What do you do when your competitor, Revolut, is outshipping you at such a speed?

Transcript

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0:00.0	I think that the real art of product, the true thing, is understanding what people want to achieve,
0:12.0	and helping them achieve that with the minimal amount of work.
0:16.0	I think every product team should be probably between six to eight people. Most of those people should be engineers.
0:22.7	If possible, one of those people should be a data scientist. One should be a designer. And then I think a
0:27.1	PM is optional. This is 20 product with me, Harry Stebbings. Now 20 product is the monthly show where
0:32.1	we sit down with the best product leaders in the world to unpack how they approach building
0:37.1	category defining products.
0:39.2	Our guest today, Mike Hudak, is a total OG in the product world.
0:43.2	In the past, he was at Facebook where he led ads product and sharing product,
0:47.7	and then he went on to become CPO and CTO at Deliveroo before joining Monzo as their
0:52.9	CPO.
0:53.7	Today, he's the co-founder of Sling, simplifying the way
0:56.7	the world connects financially, and they have backing from some of the best, including USV and
1:01.8	Ribbitt. But before we dive in, ever wondered what your customers actually do. The team over at
1:07.2	Thay Do have been living it for decades, and they have recently built a product
1:10.8	that is frankly enabling the world's biggest businesses to literally know what they do.
1:15.8	Harnessing Journey Mining with AI, you can turn unstructured data into structured
1:20.0	data into structured customer journeys in minutes, saving weeks of work and months of analysis.
1:25.0	They Do Journey Management Platform is already helping over 100 leading businesses,
1:29.5	including Ford, Johnson & Johnson, Royal London and Home Depot to know what they do. Don't waste another
1:35.5	step. Check out they do.com. But before we continue, let me tell you about One Schema. One Schema is
1:42.0	the embeddable CSV importer that will save your team months of development time.
	...

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