We track Product so you don't have to. Top Podcasts summarised, the latest AI tools, plus research and news in a 5 min digest.

Hello, Product fans!

🌮 Welcome to another flavour-packed edition of Product Tapas!

🔥 What's Sizzling?

📰 Not Boring News: We're serving hot updates from Threads' unique hashtag rollout to GTA VI's record-breaking YouTube views. X introduces Grok, while Linux faces its own 'blue screen' moment. Also catch up on Coinbase's innovative money transfers and the latest tweaks to OpenAI's ChatGPT. 🌐

🤖 GPT & Tool Time: Discover how to easily turn images into videos with Stability AI's new tool – a game changer for content creation! 💻🔍

🎙️ Product Bites: Dive into the world of Web3, with insights from the State of Crypto Report and the benefits of building apps on-chain. Plus, unravel Airbnb's intriguing shift in product management with Brian Chesky's new approach. 🌟

Please keep sharing Product Tapas for exclusive access to our best GPTs and other rewards. And of course, let us know what you want more or less of ;)

Join us on this journey of discovery and growth in the world of product management!

Ready for a bite of knowledge? Let's dig in! 🚀👋

PS - we’ll be back Wednesday as we shift to our slightly less frequent Tapas from this week 👋 

📰 Not boring

• Threads is rolling out its hashtags without the hash symbol globally - what’s next? Threads…?

• GTA VI breaks MrBeast’s record for most YouTube views in 24 hours, racking over 80 million (130 million+ total now and counting 🤯)

• X (formally Twitter) has started rolling out Grok to subscribers

• Linux is getting its own blue screen of death

• a16Z 2023 State of Crypto Report: Introducing the State of Crypto Index

  • See the Product Bites section for a summary of the full report

• Coinbase rolls out money transfers via links sent on WhatsApp, TikTok, and Instagram

• OpenAI admits ChatGPT is getting lazier and are looking into fixing it

  View more →

📰 Time-Saving Tools & GPTs

The video above was created using the (albeit dull) image below. There are better examples on the Stable Diffusion site, but I wanted to have a play with it.

🫦 Product Bites

🌟 2023 State of Crypto Report: Introducing the State of Crypto Index

Something different today; I’ve been into crypto and web3 since about 2018 and fortunate to work in the space for 18 months or so. Contrary to popular belief, it’s not all moon boys, 🏎️ lambos and scamming grifters. Whilst they sadly do exist and get too much time in the media sun, I would urge people who don’t know much to take a skim through the below and find out a bit more about the Future of France [Future of Finance - the space is full of ridiculous vernacular and memes, get used to it].

📖 Read the full article and download the report here 

📆 Published: November 4th, 2023 ⏱️ Reading Time: <1 Minute

What's The Buzz? 🐝

The "State of Crypto 2023" report by a16z crypto provides an in-depth analysis of the current cryptocurrency and blockchain industry. It covers the growth of Web3, market cycles, regulatory changes, and the challenges and opportunities within the crypto space.

What's The Big Deal? 🌟

Key insights from the report include:

• Web3 Growth and Ethereum's Transition: Significant progress in Web3 development, highlighted by Ethereum's move to a more sustainable "proof-of-stake" model, which is expected to reduce energy consumption and improve scalability. (Read this and this if the previous sentence means nothing to you)

• Challenges and Industry Setbacks: The report notes various setbacks, including the collapse of major crypto projects, financial struggles leading to bankruptcies, increased incidents of smart contract exploits, and a general decline in market capitalization and activities in Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs).

• Crypto Market Cycles: The report discusses the ongoing 'price-innovation' loop in the crypto markets, where price increases fuel further interest and innovation, followed by inevitable corrections.

• Changing Regulatory Landscape: It highlights new legislative initiatives, significant court cases, and enforcement actions, emphasizing the importance of regulatory clarity for the future growth and stability of crypto markets.

• Decentralization as a Counter to Power Consolidation: The potential of decentralized systems is underscored as a means to address the growing consolidation of power in the technology sector and to improve the foundational infrastructure of the internet.

• Significance of Web3 in Internet Evolution: The report views Web3 as a significant evolution of the internet that blends features from previous web eras and introduces democratized ownership and control.

• Indicators of Healthy Growth: Despite challenges, the crypto space shows healthy growth indicators, such as an increase in the number of developers, innovative products, and scholarly research.

• Mainstream Adoption of Crypto and Web3: Major brands and corporations are increasingly exploring and adopting Web3 applications, particularly NFTs, signaling growing mainstream interest.

• DAO Evolution and Participation: The report notes the evolving nature of Decentralized Autonomous Organizations (DAOs), with increased participation in governance and new models for community-driven initiatives.

• US's Global Position in Crypto: There is a noticeable trend of the US potentially losing its lead in Web3 innovation to other countries that are advancing more rapidly in digital payments, financial inclusion and especially regulation.

Why Should You Care? 💡

Understanding the current state of the crypto market is crucial for investors, entrepreneurs, and enthusiasts. But more than that it represents the next phase of the web, a move to more ownership of your data and faster, cheaper better transfer of data and assets. This report sheds light on the evolving nature of cryptocurrency and blockchain, highlighting both the potential and the pitfalls of this rapidly changing industry.

What To Do With This Information 🔗

For those involved in or interested in the crypto market, this report provides valuable insights to inform investment strategies, product development, and market participation. It's a resource for staying informed about the latest trends and preparing for future developments in the crypto and blockchain sector. As a product fan, there are SO many opportunities in Web3. The UX in the space is terrible so there’s so much you can get stuck into. Reach out if you want to find out more!

📖 Read the full article and download the report here 

🔗 ⛓️ The Benefits of Building Apps On-Chain

Introduction

Continuing our Web3 and Crypto theme today here’s a summary to help you get your head around some of the “so-what” of crypto and Web3.

📆 Published: Nov 30, 2023 ⏱️ Reading Time: <1minute

What's The Buzz? 🐝

The article discusses the advantages of integrating blockchain technology into traditional consumer applications, challenging the conventional aversion to this approach. It emphasises how blockchain can revolutionise data aggregation and user interaction across various applications.

What's The Big Deal? 🌟

Key points from the article include:

• Blockchains as Metagraphs: Blockchains are viewed as open, permissionless databases. They act as information networks, allowing a unified view of user activities across different applications, useful for understanding customer behaviours and connections.

• Enhancing Consumer Applications: Incorporating blockchain elements into consumer apps can expand behavioural analytics and user engagement, offering deeper insights than currently possible in ​Web2 apps.

• Real-World Application Examples: The article provides examples, like a musician analysing fan engagement, to illustrate how blockchain can offer a more comprehensive view of consumer behaviour

• Creating New Social Mappings: Aggregate metagraphs formed by blockchain can lead to powerful social mappings, opening new avenues for understanding and connecting with customers.

• Long-Term Potential of Web3 Applications: While initially similar to Web2 apps, Web3 applications have the potential to offer unique experiences and insights in the long​​ run brought about through asset tokenisation, ownership and re-saleability. For example, a Web3 music streaming app, while similar to Web2 in functionality, could evolve to offer unique features like tokenized song ownership and direct artist-fan interactions based on blockchain-recorded listening data

• Immediate Benefits of Crypto Infrastructure: Crypto offers immediate advantages such as cost-effective payment solutions and the ability to create efficient secondary markets.

Why Should You Care? 💡

For developers and businesses, understanding the potential of blockchain in enhancing traditional apps is crucial. It offers novel ways to engage with users and gather insights, which can be pivotal for business strategy and customer relationship management.

What To Do With This Information 🔗

Developers and companies can explore integrating blockchain elements into their apps to unlock new capabilities and insights. This approach can lead to innovative product development and enhanced user engagement, setting a new standard in the digital economy

📖 Read the full article here 

👀 We need to talk about Airbnb

Unless you’ve been living under a rock, you’ll no doubt have heard Brian Chesky’s comments at a recent Figma event (subsequently followed up on a recent Lenny’s Podcast episode). Tom Kerwin has written a great article about it and I happen to think he’s probably right about the “Air BnB model” coming to a co near you soon. The article summary is below.

📖 Read the full article here 

📆 Published: 7th December ⏱️ Reading Time: <1minute

What's The Buzz? 🐝

Brian Chesky, CEO of Airbnb, recently announced a significant shift in their approach to product management, moving away from traditional roles and focusing on a model that emphasises taste and distribution. Tom shares his views on what it actually means.

What's The Big Deal? 🌟

Key points from the article include:

1. Shift in Product Management Approach: Airbnb's move is not about eliminating product managers but realigning them to focus more on marketing, distribution, and the broader strategic role, rather than being confined within the boundaries of agile development processes.

2. Emphasis on 'Taste': Inspired by Apple's approach, Chesky's strategy involves a deeper understanding and involvement in the product's holistic picture. This encompasses a sense of creating compelling narratives and products that resonate with the market and internal organization dynamics.

3. Implications for the Product Trio: The article touches upon the classic 'product trio' model, suggesting the inclusion of a fourth role focused on marketing/distribution. This reflects a growing need for product teams to be aware of market demands and distribution strategies.

4. Predictions for Industry-wide Changes: The article anticipates that Airbnb's approach might set a trend, similar to the 'Spotify Model', where companies might adopt surface-level aspects of this approach without fully understanding the underlying principles or context.

5. Cautions Against Misapplication: The author cautions against the potential misinterpretation of this model, warning that not everyone who believes they have 'taste' actually does, which could lead to less democratic and more dictatorial approaches in product management.

Why Should You Care? 💡

This shift in Product Management approach by a major company like Airbnb signals a potential change in how organisations might handle product development and team dynamics in the future. At least you may start to get questions on it or be asked to think how to change Product at your organisation because of it…

What To Do With This Information 🔗

Product managers and leaders in the tech industry can consider this approach for their own teams, evaluating how a balance between traditional roles and agile methodologies can lead to better product development and market fit.

📖 Read the full article here 

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That’s a wrap.

As always, the journey doesn't end here! Keep exploring, keep questioning, and most importantly, keep growing in your product journey. Until our next issue, keep savouring the bites of wisdom we've shared. 🚀👋

Alastair & the Product Tapas Team 🍽️.