Jag Duggal
Former Chief Product Officer, Nubank. On 2 shows, 2 appearances. The Shows tab opens the full record on each.
executiveinvestoroperatorLinkedIn ↗international.nubank.com.br ↗
Jag Duggal served as Chief Product Officer at Nubank, guiding product strategy through its IPO and scaling to over 100 million customers. Prior to Nubank, he held senior product leadership roles at Facebook, Google, and Quantcast.
2shows
2appearances
45statements
12resolved
9supported
2contradicted
75%fully supported
1said about them ↓ Everything Jag Duggal said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Nubank requires a 50% Sean Ellis score because Brazilians are culturally polite
“For us, our threshold isn't 40%. We've generally moved it up to 50%. I don't believe we have product market fit. Unless 50% of Brazilians are telling us they would be very disappointed because Brazilians are inherently polite more, more polite and more optimis…”
Giant platforms like Nubank and Google can mask failing products for years
“When you have a big app like new bank or places like Google and Facebook, you can make any product look great for months, if not years, because you have such a large customer base, you can always get them to try it with all sorts of basic techniques, but you'r…”
Duggal: Executives will still blame PMs if pressured products fail
“But if you genuinely believe it's not yet ready to scale your product, at the end of the day, the big mess is the thing you're still going to own. And we're all going to forget that we told you to scale the thing. We're all going to still blame you at the end …”
Duggal: Only Fundamentally Different Products Drive Word-of-Mouth Growth
“Again, it goes back to only fundamentally different gets customers to tell their friends.”
Nubank is attempting to build the first global bank on one codebase
“We are trying to build what we believe is the first global bank on a single code base.”
Duggal: Execution without strategic clarity is frenzy, not progress
“I actually think it's fairly lazy mantra in Silicon Valley and in tech in general to say strategy is easy and execution is everything. And look, to be very clear, execution is massively important. But execution without strategic clarity is basically frenzy. It…”
Duggal: Founders err by hiring product leads based on big-tech credentials
“The biggest problem and mistake founders, founders make is they go for the credential of the person who succeeded at big company XYZ, which is a very different mindset than succeeding in a highly ambiguous pre-success mode of a startup.”
Duggal: Nubank achieved 94-95 NPS in Mexico and typical NPS in 70s-80s
“There are been, for example, in Mexico, we've recorded an NPS when we launched the first couple of years of 9495. Right. So yeah, which is way better than we got in Brazil, but our NPS scores skew in the seventies, eighties, and occasionally nineties.”
Duggal: Customer anecdotes usually trump quantitative data analysis in product research
“The anecdote usually trumps the data. And there are many times when I see teams that are, you know, doing very sophisticated analysis and they've sort of forgotten what the question is or what the conclusion they can draw from it truly is. So never lose sight …”
Nubank uniquely launched with high-risk credit instead of standard deposit accounts
“Unlike almost everywhere else in the world, including in the U S where the answer was, we're going to do the bank account first. New bank's answer was no, we're going to do credit first. And credit is. 10 times harder and a hundred times more risky because you…”
Duggal: Companies must reinvent categories to dominate, not just improve incrementally
“At the company level, I think it's absolutely imperative. To be designing your own category so you can then dominate it and defining your own category. And even when you're entering a place where customers are spending money, I think going in with a mindset th…”
Duggal: Google's CS degree rule barred Kevin Systrom from PM roles
“Because of that computer science requirement to be a product manager, people like Kevin Systrom weren't allowed to be product managers at Google, right?”
Duggal: Default assumption when interviewing is that candidates aren't good enough
“When I'm recruiting someone, my default answer is they're not good enough to join the company.”
Duggal: Larry Page reviewed every Google candidate packet, including SAT scores
“Google was famous for the fact that Larry literally looked at every hiring packet, including resume. I, what, 12 years after graduating college had to provide my SAT scores to Google. I had to go find them. I had to provide my college transcript, which everyon…”
Duggal: Brazil has an exceptionally favorable credit card working capital cycle
“The working capital cycle for credit cards in Brazil is very favorable for a credit card company for what we're trying to do, which is Almost, almost compared to anywhere else in the world, Mexico and Colombia are much more typical.”
Duggal: Highly inclusive product reviews undermine open brainstorming safety
“A very inclusive meeting. Works against the second thing you're optimizing for, which is, this is a safe space for us to brainstorm together.”
Duggal: Nubank has not yet cracked Brazil's high-income market
“Our suite of products for the up market, for the high income segment in Brazil has not had, and I have not cracked myself the degree of clarity of what makes that offering fundamentally different for that target customer set.”
Duggal: Incumbent Brazilian banks were among world's most profitable and hated
“The large incumbent Brazilian banks were amongst the most profitable in the world. They were also amongst the most hated in the world.”
Duggal: Product concepts need more work if not explainable in two paragraphs
“Because if you can't tell me in two paragraphs why the customer you're building this for should care, then it's still work to do.”
Duggal: Nubank bill-pay feature reached over 10M MAUs in 15 months
“We're now over ten million monthly actives on that product when we were struggling in the hundreds of thousands about 15 months ago.”
Nubank instructs PMs to call 10 customers directly instead of surveying
“We've told many of our product managers and designers over the last two years, don't worry about serving a thousand customers, taking three weeks serving a thousand customers, getting a bunch of crosstabs, or even at the end of which it's very hard to read the…”
Duggal: Customer Research Patterns Emerge by the Fifth Direct Phone Call
“You pick up the phone, call 10 of them, and nine times out of 10, by the time you've made your fist call, you could predict what's customer six, seven, eight, nine, and 10 are going to tell you.”
Duggal: Product Managers Must Resist Immense Executive Pressure to Prematurely Scale
“The pressure on the line product manager to scale the product that the entire company, the entire executive team, the entire management chain has been counting on. We're launching this thing. We all wanted to scale. We all are very excited about it. We had the…”
Nubank is developing social features to replace legacy joint bank accounts
“Our hypothesis is it's not surprising that that artifact, that that product is not made for the modern customer. That it is easier for me to share a Spotify playlist with my wife or my daughter than it is for me to share a savings goal just mechanically. So we…”
The other half of the tape: Jag Duggal's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode across the shows. every mention, with the transcript →
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Lenny's Podcast 1
One line per show, most statements first. The link opens Jag's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| LENNY'S PODCASTLEDGER | Former Chief Product Officer, Nubank | 1 | 24 | 67% 4/6 | full record on Lenny's Podcast → |
 20VCLEDGER | Former Chief Product Officer, Nubank | 1 | 21 | 83% 5/6 | full record on 20VC → |