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Vlad Loktev spent 10 years at Airbnb, where he started as an IC PM and quickly advanced to lead the core Airbnb marketplace business and then GM the entire homes business, managing over 1,000 people and reporting directly to CEO Brian Chesky. He recently left Airbnb and joined Index Ventures as their newest partner. Vlad was my manager at Airbnb for many years, and is the person I credit most for teaching me how to be a great product manager. Prior to Airbnb, Vlad spent a year at Zynga, where he helped grow Words with Friends to over 14 million daily active users. In our conversation, Vlad shares:

• Insight into Brian Chesky’s leadership style

• Why success as a PM is all about impact, impact, impact

• Why chaos can be good

• Why as a leader it’s OK to let some fires burn

• Why you should learn to “poke the bear”

• Balancing product release speed with quality

• Lessons on prioritization, decision-making, and organizational design

• Advice for founders on building company culture

• Much more

Find the transcript at: https://www.lennysnewsletter.com/p/impact-impact-impact-vlad-loktev

Some takeaways:

1. Relentlessly focus on impact. Start by identifying the highest priorities for your organization or team. Each day, ask yourself: What are the most critical tasks or projects that align with these priorities? Ensure your efforts are directly contributing to these goals.

2. Don’t be afraid to “poke the bear”: When you have a strong opinion or concern, don’t shy away from voicing it, even if it challenges the status quo. Poking the bear means confronting difficult issues constructively and openly, which can drive meaningful change and improvements.

3. Lead with curiosity and dial down advocacy: When entering a conversation or meeting, start by asking open-ended questions to understand others’ perspectives fully. This approach shows respect for differing opinions and helps you gather important information. Only after you have actively listened and absorbed the other viewpoints should you advocate for your own perspective.

4. Let some fires burn. You can’t address everything at once, and if you feel a need to do so, that’s a sign you don’t understand what’s most important for your business. You need to be explicit with yourself and your team about what the priorities are and what you’re willing to let burn in service of them. Aligning on this in advance will help you resist the urge to put out fires as they start.

5. Two tools to help you calm your mind:

   1. The serenity prayer: “Grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.” Use the prayer to focus on what is within your control and let go of what isn’t.

   2. The shit bucket: Designate a specific place, like a physical trash can or a digital file, as your ‘shit bucket’ for frustrations and issues you can’t change. When you encounter a challenge or setback, write it down and place it in the shit bucket. Once it’s in the bucket, commit to not dwelling on it.

6. Ensure that your core values are not just documented but actively integrated into every aspect of the organization. This includes hiring, performance reviews, promotions, and everyday interactions. Provide clear, actionable examples of what each core value looks like in practice, and recognize and celebrate employees who exemplify these values.

Where to find Vlad Loktev:

• X: https://x.com/vladimirloktev

• LinkedIn: https://www.linkedin.com/in/vladimirloktev/

In this episode, we cover:

(00:00) Vlad’s background

(02:54) Reflecting on transformative years at Airbnb

(04:28) Skills and mindsets for success

(11:03) Impact-driven mindset

(13:16) Saying no and inquiry before advocacy 

(17:54) “Poking the bear”

(22:46) Psychological tools for leadership

(30:08) Building and scaling teams

(36:12) Letting fires burn

(47:34) Embracing chaos

(54:40) The unsell email strategy

(01:02:01) Finding your place in an organization

(01:05:38) The importance of company culture

(01:13:16) Airbnb’s unique approach to product management

(01:26:41) Failure corner

(01:31:32) Lightning round and final thoughts

Referenced:

• Inquiry vs. Advocacy framework: https://www.linkedin.com/posts/vladimirloktev_ever-get-feedback-that-you-need-to-listen-activity-7107746905190797313-tR1k/?trk=public_profile_like_view

• Making an impact through authenticity and curiosity | Ami Vora (CPO at Faire, ex-WhatsApp, FB, IG): https://www.lennysnewsletter.com/p/authenticity-and-curiosity-ami-vora

• Serenity prayer: https://en.wikipedia.org/wiki/Serenity_Prayer

• Index Ventures: https://www.indexventures.com/

• Unorthodox PM wisdom: Automating user insights, unselling job candidates, logging every decision, more | Kevin Yien (Stripe, Square, Mutiny): https://www.lennysnewsletter.com/p/unorthodox-pm-wisdom-kevin-yien

• The Unsell Email: https://kevinyien.com/blog/unsell.html

• What Seven Years at Airbnb Taught Me About Building a Business: https://marker.medium.com/what-seven-years-at-airbnb-taught-me-about-building-a-company-e1d035d49c56

• Life at Airbnb: https://careers.airbnb.com/life-at-airbnb/

• Brian Chesky’s new playbook: https://www.lennysnewsletter.com/p/brian-cheskys-contrarian-approach

• Making Meta | Andrew ‘Boz’ Bosworth (CTO): https://www.lennysnewsletter.com/p/making-meta-andrew-boz-bosworth-cto

• The growing importance of software product marketing managers: https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/the-growing-importance-of-software-product-marketing-managers

• Red Rising: https://www.amazon.com/Red-Rising-Pierce-Brown/dp/034553980X

• Silo series: https://www.amazon.com/Silo-Saga-Wool-Shift-Stories/dp/0358447828

• Silo on AppleTV+: https://tv.apple.com/us/show/silo/umc.cmc.3yksgc857px0k0rqe5zd4jice

• Survivor on CBS: https://www.cbs.com/shows/survivor/

• Discord: https://discord.com/

• Gobblet Gobblers: https://www.amazon.com/Blue-Orange-103-Gobblet-Gobblers/dp/B001TMXDMK/

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.