The Ledger, every show

“Early on, we were basically like, look, if there's an issue with the driver, if there's an issue with the order being late, we'll take it on as the marketplace, because we know if we make up for a bad experience by going above and beyond, we'll actually have b…”

“And you know, that's gonna go away over the next five years. And it sort of takes us back to what product management used to be like, which was, you know, you didn't have all these resources around. You didn't have all this time to figure it out because if you…”

“Then the pandemic hits and all the unit economics of DoorDash flipped positive because everyone's all of a sudden ordering online and all the drivers are much more busy, which means all the latency in the model that was creating the losses went away.”

“It probably always will be a sneaker marketplace, and that will limit ultimately how big that company could get.”

“I think the real PM job is the least likely to get replaced over time. Because you need, you know, real subject matter expertise. You need to, you know, be trading off a lot of different types of things and making good decisions for the company and for your cu…”

“When people came in from Google, we would let you see a preview of the content, and then we would ask you to sign up to see more of it... As we did that, that was really successful. And we ended up signing up, you know, like over half of the U S up to Pinteres…”

“So as we did that, that was really successful, and we ended up signing up, you know, like over half of the US up to Pinterest with, you know, a pretty high retention rate.”

“As we look at most of the winners in marketplaces, you know, where I would say small winners from like a hundred million to a billion or bigger winners, which are a billion or more, most of them are single category, but then there's some really big outliers th…”

“At Pinterest, we were able to double the activation rates after a year of work, but we had to dramatically simplify onboarding. We had to make sure it worked a lot better in all these international use cases that we weren't that good in. We had to delete a bun…”

“They actually, Eventbrite, when I joined, was not really in the habit of measuring cohort retention. It just measured net dollar retention.”

“We were a fast growing startup that stopped growing due to some changes in, in the market related to Facebook. And then actually, once we had switched to growing primarily through SEO, there was an algorithm change that severely impacted our growth at one poin…”

“And I think you're gonna see an explosion in B to B companies that learn how to unlock that and get sales and product and marketing to be working as one larger cross-functional team and building an engine that optimizes all of their skill sets.”

“Every growth experiment I've recommended when I've joined a company, I'm fundamentally using more of my gut from previous experience. Every time that has not worked.”

“When Facebook changed the way the open graph worked, all of a sudden we stopped getting any new users.”

“So you see with the Expedia's of the world, the bookings of the world, they actually make most of their money off hotels where there's a lot more variety and a lot more fragmentation.”

“Tony at DoorDash was delivering the meals himself. For like the first year, right? Cause he didn't know how to acquire drivers yet. And he didn't want to work on that until he validated that there was a real product there.”

“Grubhub was an asset-like marketplace where the restaurants were in charge of doing their own delivery, and we basically had every restaurant across most of the U.S. That did their own delivery.”

“So you're a company Grubhub that's raised eighty million dollars before you go public.”

“That made them a little bit less fragile to the pandemic because while, you know, rides shrank during the pandemic, food delivery demand went up and Lyft didn't really have that counterbalance only being focused on rides.”

“It's not like there's any restaurant at Grubhub that makes up more than five percent of sales. So it's still reasonably fragmented.”

“So what we found at Grubhub is that our retention got better every cohort because the product did get faster on the supply side, faster than the people we're targeting, you know, got worse.”

“For Pinterest, that was like, okay, we have to get them pinning at least once in the first four weeks. And after four weeks, if they're doing it by the fourth week, we know week five, week six, week seven, we got them. Like they're going to stick around basica…”

“For Grubhub, we had to get you a second order in the first three days to reliably predict you building that habit.”

“So at Grubhub, that was like, you needed to get them two orders a day to stick around as a restaurant, and then they would never, you know, churn.”

“The company raised three hundred million dollars in an IPO that valued it at two billion dollars. It's worth fifty million dollars today on the New York Stock Exchange.”

“Stayed there from about forty million monthly actives to a hundred and fifty million monthly actives.”

“Domino's was the first to have done this at the time.”