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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.

Hey Product fans!

Welcome to this week’s 🌮 Product Tapas. If you’ve been forwarded this please sign up and check out previous editions to see what else you’ve missed.

Welcome to the new subscribers that have joined us over the last week 👋 . This newsletter aims to help you navigate the goings on in Product and Tech. It’s another packed edition this week, so without further ado…

What’s on the menu? 🧑‍🍳 

📰 Not Boring: We’ve got how SpaceX's is taking us back to the moon 🚀 with "Odysseus", more news on Vision Pro and a stack of AI news (it’s hard to keep up!) - Google & Open AI cover the launch of ever more powerful models, some visually amazing text to video capabilities and bots that can automate workflows and mundane activities. Slack's looking to use AI to summarise conversations and TikTok's cracking down on misinformation. Plus much more!

🤖 Time-Saving Tools & GPTs: This week we spotlight Fixkey's AI-driven writing enhancements and a really useful looking tool from Antithesis to help automate bug detection. Visme and Fima offer creative solutions for presentations and whiteboard collaborations, while we’ve got another app to transform articles into rich audio summaries from Recast and finally something from Outverse to provide self-serve support tool for SAAS companies 🥵.

🎙️ Pod Shots: Today’s pod shot is all about making the most from failure. We cover the "Masters of Scale" podcast where rejection is reimagined as a stepping stone for entrepreneurs. The episode weaves through the journeys of founders who turned nos into yeses, highlighting resilience, adaptability, and the pursuit of contrarian ideas. Insights from the economic landscape to the creation of MacGyver add to the variety of stories and strategies covered.

🍔 Blog Bites: We cover another great selection from case studies on how Spotify ensures a cohesive user experience across its platform, to Arc's ambitions to reimagine the internet browser. We link up Growth Design’s view on the UX challenges of free trials, a macro view on how there’s still headroom before we reach tech bubble territory, and another Hustle Badger article - this time on ideation.

Plenty to get stuck into! 🚀👇

📰 Not boring

• SpaceX successfully launches Odysseus in bid to return US to the lunar surface

• People are returning Vision Pro, saying it’s too heavy/uncomfortable

  • Zuckerberg reckons his Quest is better (well he would)

• Dating app downloads are slowing down in the season of love; but is it just cyclical?

• Slack adds AI-fueled search and summarization to the platform; Key Qs - is it good enough to be trusted? Will it change what you write knowing it will be summarised? Do you want everything you write easily searchable?

  • I’ve used a slack plugin that does this for a year so for me my answers are:- Yes, no, not bothered :). What about you?

• rupt launches a product to help you spot and stop account sharing across your app

• TikTok to ramp up fight against fake news, covert influence ahead of EU elections. We will see, much much more of this

• Google launches Gemini 1.5 Pro, then later that same day OpenAI one-ups them announcing Sora (text to blockbuster standard film).

• Not to mention, they’re developing a Search product to challenge Google. Oh yeah AND they announced they’re going to create agents that operate devices and automates tasks. I can barely keep up with the pace of change in AI right now.

  • Also in unrelated news…. OpenAI now at a $2bn ARR 🤑 

• Over half of Vision Pro-only apps are paid downloads, far more than wider iOS App Store

• Plaid Names First Company President in Another Step Toward IPO (ex-Cloudflare CPO - Jen Taylor)

• Want even more news?? View more here → 

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📰 Time-Saving Tools & GPTs

• Fixkey: like an automated Grammarly to speed up your writing and make it better

• Antithesis: continuously searches your software for bugs within a simulated environment enabling efficient debugging of non-obvious paths. This looks very interesting

• Visme: create presentations, dashboards, charts++ from text prompts

• Fima: another whiteboard app (yawn) - actually this looks more geared to specific product needs so could be interesting….

• Recast: Turn your want-to-read articles into rich audio summaries

• Outverse: Self-serve support for modern SaaS: “Support your customers at scale with intelligent docs and community forums. Built for the next generation of startups and CX teams.”

🎙️ Pod Shots

In this episode of the Masters of Scale podcast, host Reid Hoffman explores the concept of rejection and how it can be a positive sign for entrepreneurs. The episode features stories and insights from various successful founders and leaders who have faced their fair share of no’s. From the creation of the iconic TV character MacGyver to the struggles of pitching innovative ideas to investors, the podcast delves into the importance of resilience, learning from mistakes, and finding opportunities in rejection.

🤖 Learn From Every “No”

🎙️ Listen to the full episode here 

📆 Published: January 30th, 2024

🕒 Estimated Reading Time: 2 minutes. Time saved: 42 minutes🔥 

🌍 Theme: Understanding the Economy

Tucker Legersky, a researcher at Masters of Scale, highlights the significance of economic events and their impact on businesses. He recommends the Planet Money podcast as a valuable resource for understanding how world events tie back to the economy. This sets the stage for the subsequent stories of entrepreneurial journeys and the challenges faced in the ever-changing economic landscape.

📺 Theme: The Unusual Story of MacGyver's Creation

Lee Zlotoff, the writer, producer, and director who created the iconic TV character MacGyver (amazing blast from the past), shares the unusual story of how the show came to be. Initially hired to write a pilot with a different concept, Zlotoff was tasked with coming up with a unique idea for a series. After multiple iterations and rejections, he gathered his writer friends and brainstormed the concept of a secret agent who could improvise his way out of any situation with limited resources. This led to the creation of MacGyver, a character known for his resourcefulness and problem-solving skills.

💡 Theme: Embracing Rejection as a Stepping Stone

Throughout the episode, the importance of embracing rejection and using it as a stepping stone is emphasized. The stories of Tristan Walker, founder of Walker & Company, and Abby Falick, founder and CEO of Global Citizen Year, highlight the value of seeking out rejection and learning from it. Walker encouraged his team to gather as many no's as possible, which ultimately led to their success. Falick shares her experience of facing rejection while building her not-for-profit organization and how it shaped her resilience and determination.

🔀 Theme: Refining Ideas and Pivoting Strategically

The episode also explores the process of refining ideas and pivoting strategically in response to rejection. Founders like Katia Beauchamp of Birchbox and John Foley of Peloton share their experiences of facing scepticism and doubt from investors. Beauchamp had to finesse her pitch and speak the language of investors to secure funding for her subscription box business model. Foley faced numerous no's before finding investors who believed in his vision for connected stationary bikes. Both founders demonstrate the importance of persistence and adaptability in the face of rejection.

🌟 Theme: Recognising Contrarian Ideas

The episode highlights the significance of recognising contrarian ideas and the potential for transformative innovation. Brian Grazer, a successful Hollywood producer, shares his experience of pitching the movie "Splash," which was initially seen as a dumb idea. However, the movie went on to become a critical success and propelled Grazer's career. Reid Hoffman also reflects on the contrarian nature of successful startups like Google and LinkedIn, emphasizing the importance of pushing boundaries and challenging conventional wisdom.

🚫 Theme: Knowing When to Say No

The episode concludes with insights on knowing when to say no. Tyra Banks, model, producer, and entrepreneur, shares her experiences of turning down lucrative offers that didn't align with her values, such as wearing fur or promoting alcohol. Drew Houston, founder of Dropbox, recounts his encounter with Steve Jobs, where he had to say no to a potential acquisition by Apple. These stories highlight the importance of staying true to one's principles and making decisions that align with personal and brand values.

🧠 What can I do with this as a founder or PM?

There are several actionable takeaways that you can leverage to enhance your role and product strategy:

1. Understanding Economic Events: The importance of having a keen understanding of economic events, such as recessions, inflation, and fluctuating gas prices, can help you anticipate market trends and make informed product decisions. Consider staying updated on economic news and how it may impact your product's market.

2. Embracing Rejection: Learn from the stories shared in the episode about embracing rejection as a stepping stone towards success. Use rejection as an opportunity to refine your product ideas, sharpen your pitch, and foster resilience within your product team.

3. Recognising Contrarian Ideas: Recognise the value of contrarian ideas and pushing boundaries in product innovation. Encourage your team to think outside the box, challenge conventional wisdom, and consider ideas that may initially seem unconventional but have the potential to be transformative.

4. Pivoting Strategically: When faced with rejection or scepticism from investors or stakeholders, consider pivoting strategically. Refine your product strategy, adapt to feedback, and persist in pursuing your vision while being open to necessary adjustments based on market feedback.

5. Knowing When to Say No: Just as important as saying yes is knowing when to say no. Align your product decisions with your brand values, customer needs, and long-term vision. Learn from examples shared in the episode where leaders turned down lucrative offers that didn't align with their values.

6. Learning from Mistakes: Embrace a culture of learning from mistakes and rejection within your product team. Encourage a growth mindset, where failures are seen as opportunities for improvement and innovation. Use feedback and rejection as valuable insights to iterate and enhance your product strategy.

7. Seeking Feedback: Encourage a culture of seeking feedback from diverse sources, including customers, stakeholders, and industry experts. Just as successful founders sought feedback on their ideas, leverage feedback to refine your product features, market positioning, and overall product strategy.

If these sound like they resonate dig in more below.

Want to quickly know more? Just ask the episode below👇️ 🤯 
or if you prefer, 🎙️ Listen to the full episode here 

📅 Timestamps:

• 00:00:00-00:00:52 Introduction and the importance of understanding the economy

• 00:01:01-00:04:07 The creation of MacGyver and the power of embracing rejection

• 00:05:55-00:08:55 Recognizing the value of rejection and refining ideas

• 00:08:56-00:10:41 The importance of contrarian ideas and pushing boundaries

• 00:14:46-00:19:16 The significance of discerning movable sceptics and learning from rejection

• 00:19:23-00:23:52 Strategies for dealing with rejection and the importance of vision

• 00:24:13-00:26:10 The role of saying no and maintaining brand integrity

• 00:31:31-00:34:14 The impact of rejection and the importance of persistence

• 00:40:21-00:43:58 The importance of learning from rejection and staying true to one's vision

🍔 Blog Bites

Case Study: How Spotify uses components without creating a fragmented user experience

Spotify’s engineering team explains how they use React components to ensure a consistent UX.

Case Study: How Arc Grows: Building The New Window Into The Internet

Jaryd Hermann wrote about Arc. If you missed his deep dive, he includes a load of lessons about startup building. Plus as he puts it “if you’ve never heard of Arc, it may just be your next favourite product.”

Design: Growth Design takes a look at why free trials cause a UX headache

You can read the explanation in full from Growth Design here

Macro: We’re still a long way from the bubble popping.

“The S&P 500 would need to rise another 25% to reach the levels of “irrational exuberance” that fueled the '90s tech bubble, according to the bear of bears, Société Générale.” 👀 

Learn: How to run an ideation session

Hustle Badger have a new article on running an ideation session. Take a look at the article here, or go straight to the Figma or Miro.

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Alastair 🍽️.