Reflections on a movement | Eric Ries (creator of the Lean Startup methodology)
Brought to you by Sanity—The most customizable content layer to power your growth engine | Jira Product Discovery—Atlassian’s new prioritization and roadmapping tool built for product teams | LinkedIn Ads—Reach professionals and drive results for your business — Eric Ries is the creator of the Lean Startup methodology, author of the New York Times bestseller The Lean Startup, and founder of the Long-Term Stock Exchange (LTSE). He’s also a multi-time founder and currently advises startups, VC firms, and larger companies on business and product strategy. In today’s episode, we discuss: Listen now on Apple, Spotify, Overcast, and YouTube. Find the transcript for this episode and all past episodes at: https://www.lennyspodcast.com/episodes/. Today’s transcript will be live by 8 a.m. PT. Where to find Eric Ries: • LinkedIn: https://www.linkedin.com/in/eries/ • X: https://twitter.com/ericries • Website: https://theleanstartup.com/ Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • X: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ In this episode, we cover: (00:00) Eric’s background (04:46) Eric’s recent activities and projects (06:23) Eric’s start in advising and first-principles thinking (10:56) Lessons from designing the Lean Startup process (14:04) The current state of lean startup methodology (22:33) Common misconceptions about the methodology (24:28) Changes Eric would make in an updated version of Lean Startup (27:52) An explanation of minimum viable product (MVP) and why Eric still stands by the process (37:36) An example of “Less is more” (41:24) More on MVPs and the importance of testing your hypotheses (41:24) How LTSE had to pivot after a partnership fell apart (48:37) Eric’s take on the concept of craft (53:36) Why getting fired for standing by your conviction can be a career accelerator (55:17) Tech’s mental health crisis (56:28) Advice for founders stuck in a “zombie company” (1:00:16) How continuous pivots shape a company’s vision, with a real-life story (1:08:20) Challenges in assessing companies from an external perspective (1:13:17) Practical advice for businesses considering a pivot (1:18:42) The impact of artificial intelligence (1:26:59) The current capabilities of ChatGPT and its potential use as an equalizer in the marketplace (1:31:26) Eric’s current work with founders on human flourishing (1:42:40) Advice for founders who want to build ethical companies (1:49:37) Examples of first-principles thinking (1:53:42) Why shareholder primacy theory is wrong (1:55:19) The “spiritual holding company” (1:58:12) Lightning round Referenced: • The Long-Term Stock Exchange: https://ltse.com/ • The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses: https://www.amazon.com/Lean-Startup-Entrepreneurs-Continuous-Innovation/dp/0307887898 • Lean manufacturing: https://www.techtarget.com/searcherp/definition/lean-production • Six Sigma: https://www.6sigma.us/six-sigma.php • Clay Christensen: https://claytonchristensen.com/ • Eric Ries on 4 Common Misconceptions About Lean Startup: https://www.entrepreneur.com/starting-a-business/eric-ries-on-4-common-misconceptions-about-lean-startup/286701 • Anakin Skywalker meme: https://knowyourmeme.com/memes/for-the-better-right • Linear: Building with taste, craft, and focus | Karri Saarinen (co-founder, designer, CEO): https://www.lennyspodcast.com/inside-linear-building-with-taste-craft-and-focus-karri-saarinen-co-founder-designer-ceo/ • Snow Crash: https://www.amazon.com/Snow-Crash-Neal-Stephenson/dp/0553380958 • IMVU: https://about.imvu.com/ • Ben Silbermann on LinkedIn: https://www.linkedin.com/in/silbermann/ • Wonder Boy: Tony Hsieh, Zappos, and the Myth of Happiness in Silicon Valley: amazon.com/Wonder-Boy-Zappos-Happiness-Silicon/dp/1250829097 • Understanding Steve Jobs’s Reality Distortion Field: https://www.emexmag.com/understanding-steve-jobs-reality-distortion-field • Paul Graham’s website:http://www.paulgraham.com/raham • Segment: https://segment.com/ • Loom: https://www.loom.com/ • The Slack story: https://www.paperflite.com/blogs/slack-story • The Social Network on Netflix: https://www.netflix.com/ca/title/70132721 • Thomas Kuhn: Paradigm Shift: https://www.simplypsychology.org/kuhn-paradigm.html • Conway’s Law: the little-known principle that influences your work more than you think: https://www.atlassian.com/blog/teamwork/what-is-conways-law-acmi • Monty Python and the Holy Grail Guards Scene on YouTube: https://www.youtube.com/watch?v=eVWH01E2weA • Toyota Production System: https://global.toyota/en/company/vision-and-philosophy/production-system/ • Warren Buffett’s Forbes bio: https://www.forbes.com/profile/warren-buffett • The Enlightened Capitalists: Cautionary Tales of Business Pioneers Who Tried to Do Well by Doing Good: amazon.com/Enlightened-Capitalists-Cautionary-Business-Pioneers/dp/0062880241 • The Grace of Kings (The Dandelion Dynasty): https://www.amazon.com/Grace-Kings-Dandelion-Dynasty/dp/148142428 • All Systems Red: The Murderbot Diaries: https://www.amazon.com/All-Systems-Red-Murderbot-Diaries/dp/0765397536 • Star Wars: Andor on Disney+: https://www.disneyplus.com/series/star-wars-andor/3xsQKWG00GL5 • Tesla Powerwall: https://www.tesla.com/powerwall • Levoit Classic 300S ultrasonic smart humidifier: https://www.amazon.com/LEVOIT-Humidifiers-Ultrasonic-Essential-Customized/dp/B09C24TYGQ • The Law of Sustainable Growth: https://www.linkedin.com/pulse/20121015181612-2157554-the-law-of-sustainable-growth/ Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com. Lenny may be an investor in the companies discussed. You're currently a free subscriber to Lenny's Newsletter. For the full experience, upgrade your subscription. |
Older messages
What AI means for your product strategy | Paul Adams (CPO of Intercom)
Thursday, October 26, 2023
Listen now (83 mins) | Brought to you by Eppo—Run reliable, impactful experiments | Hex—Helping teams ask and answer data questions by working together | HelpBar by Chameleon—The free in-app universal
Scaling your B2B growth engine
Tuesday, October 24, 2023
Part seven of my seven-part series on kickstarting and scaling a B2B business
A step-by-step guide to crafting a sales pitch that wins | April Dunford (author of Obviously Awesome and Sales Pi…
Sunday, October 22, 2023
Listen now (91 mins) | Brought to you by Composer—the AI-powered trading platform | Eppo—Run reliable, impactful experiments | LinkedIn Ads—Reach professionals and drive results for your business —
Scaling Duolingo, embracing failure, and insight into Latin America’s tech scene | Gina Gotthilf (Latitud, Duoling…
Thursday, October 19, 2023
Listen now (97 mins) | Brought to you by Jira Product Discovery—Atlassian's new prioritization and roadmapping tool built for product teams | Hex— Helping teams ask and answer data questions by
Building beautiful products with Stripe’s Head of Design | Katie Dill (Stripe, Airbnb, Lyft)
Thursday, October 19, 2023
Listen now (94 mins) | Brought to you by Sidebar—Catalyze your career with a Personal Board of Directors | Jira Product Discovery—Atlassian's new prioritization and roadmapping tool built for
You Might Also Like
Peppered Kitty and The Penal Guard 💂♂️
Tuesday, November 12, 2024
The breed of the non-human͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🗞 What's New: HARO/Connectively is shutting down
Tuesday, November 12, 2024
Also: Use AI to beef up your security ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
the wizard of oz.
Tuesday, November 12, 2024
Read time: 53 sec. Today I want to tell you about Cristiano. He was part of our last Starter Story Academy sprint. And during his first two weeks, he was busy designing and tweaking his landing page.
💃 Beyoncé loves her products...here’s how she did it
Tuesday, November 12, 2024
The exact steps to build your beauty brand empire Hey Friend , We just launched our newest course, How to Build a Million Dollar Beauty Brand. In it, for the first time, Alicia Scott—founder of Range
[CEI] Chrome Extension Ideas #166
Tuesday, November 12, 2024
ideas for Amazon, Twitter, Developers, and Students ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Navattic's PLG funnel with Natalie Marcotullio
Tuesday, November 12, 2024
In conversation with Navattic's Head of Growth about their product-led growth (PLG) funnel. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
You have one shot to sell your business 🤞
Tuesday, November 12, 2024
Just One Week to Go Until Exit Strategy Launches!
Product manager is an unfair role. So work unfairly.
Tuesday, November 12, 2024
How to thrive in “the great flattening” by redefining work norms ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Growth Newsletter #223
Tuesday, November 12, 2024
It's not "what" but "where" ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
All stock, 6-figure deal
Tuesday, November 12, 2024
Plus, overcome a big barrier to exit planning: owner dependency ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏