Product Habits - What working at Stripe is like

Fast Growth vs. Slow Growth

Elizabeth Yin crushed it with this tweet storm. It's one of the best I've read in a while. She uses the example of how three of her friends built a multi million dollar company over a 15-year-span, and why their business probably wouldn't have worked if they took VC money. Raising money is the first thing many entrepreneurs think they need to focus on when starting a company. But this is a good reminder that it isn't always the right (or best) thing to do. 

Stage of Company, Not Name of Company

If you're looking to make a career move in tech any time soon, this is a must-read. It breaks down the various types of companies by stage, and challenges you to explore new opportunities based on company stage, not company name. There are probably only one or two stages that make sense for you to explore given your skillset and career needs. Which ones are right for you?

The (Not Failing) New York Times

Ten years ago, The New York Times was a dying business just like every other newspaper. But, they completely turned things around by cleaning up their balance sheet and becoming a subscription-first business (vs. an ad-first business). Now they are massively and sustainably profitable, and it's only going to be more true over the next 5-10 years. This is an inspiring look at how a seemingly "dead" business can turn into a thriving, highly profitable one. 

People Love Products With Rituals

This is a thought-provoking read about the power of adding rituals into your product, even if it's as simple as customers needing to close their eyes for a moment or flip their phone's screen a certain way. When products have rituals, people enjoy the product more and are willing to pay more. And here's a fun tidbit: A delay between the ritual and the product's consumption further strengthens satisfaction. What could adding a ritual to your product look like?

The Super Beginner's Guide to B2B Prospecting

This is a very useful guide designed to help early-stage startups find their first customers through a very practical, simple step-by-step process for creating a pipeline of warm prospects. I agree wholeheartedly with Ethan Ruby: Being systematic about prospecting at the earlier stages of your company is the fastest way to find your ideal customers. This guide will help you get started fast. 

A Customer Acquisition Playbook for Consumer Startups

I think all of the talk about "growth hacking" over the years has confused many entrepreneurs into thinking there are myriad ways (often complicated) to achieve viral growth. This article is a great reminder that there are actually only several routes to scalable consumer growth. Simplifying how you think about growth will allow you to focus on building the right channels out in a more focused, in-depth way. That is the kind of strategy that builds dividends over the long-term. 

Frameworks From a Growth Leader Who Helped Samsara Scale From Series A to Series F

Max Rencoret joined Samsara as employee #20 to run growth and guided the company through an enormous growth spurt (they now have 1400 employees). Here's a look at what an average week looks like for him, what parts of his job create the most value, and which mental models he uses to make difficult decisions. I think we'd all benefit from answering the same questions for ourselves. 

What Working at Stripe Has Been Like

Patrick McKenzie joined Stripe four years ago and has learned quite a bit along the way. He describes what he does in a typical day, what has changed for the company (and his evolving role) over the last four years, and what his thoughts are on the global startup and tech community. I love personal writing like this. It feels honest, descriptive, and as a result, genuinely informative. Read more about Patrick's journey at Stripe here. 

Building Breakthroughs: A New Course From Floodgate

The Floodgate team is launching an online course called "Building Breakthroughs," which is open to all students and startup founders across the country. The goal of the course is to help find and test breakthrough concepts, and develop the resources needed to scale. If it sounds like something you might be interested in, Floodgate is accepting applications until 9/20.

Lean more about the program here and apply here.

Going All-In on Remote Work: The Technical and Cultural Challenges

“Remote work can be either costly or cost-saving, depending on how you approach it and how well-equipped you are to truly support it.” I couldn’t agree more. Going remote is an opportunity to redefine roles and make sure your team has the resources they need, but it takes conscientious effort. This is an important read for anyone who is now leading a remote or semi-remote team. 

Bessemer Venture's Investment Recommendation Memos

Bessemer Venture Partners shared their Investment Recommendation Memoranda from some of their most successful investments. The common thread? It was less about the products and more about the people. In my experience with investing, people are the most important thing. I think most investors would agree. Keep this in mind if you’re pitching your startup in the near future. 

Hiring Your First Head of Marketing

This was a thought-provoking read about why there is so much turnover among startup CMOs. Often, they aren’t set up for success—especially if the company has invested few resources in marketing initiatives up until that point. Make sure you think through this checklist to determine whether you’re ready for a marketing head. 

How Etsy Created Joyful Online Events Pre-Zoom

I didn’t realize this, but Etsy started something called “Virtual Labs,” which were basically digital events, way back in 2009. One of the first dozen employees at Etsy shares why they created them, how they worked, and what made the community fall in love with them. 

Step Functions and One-Percent Improvements

I agree with Auren Hoffman: You can build a solid company with consistent one percent improvements. But in order to build a great company, you need step functions that provide exponential growth (though they tend to carry more risk). This is a thoughtful read about how step functions operate, and why they are important but require patience and risk tolerance. 

What the First Seven Christmases Were Like at Amazon

Amazon launched in July 1995. I didn’t know this, but apparently the company had a near-death experience around Christmas for the first seven years. Dan Rose joined in 1999 and recounts what it was like to work at Amazon during that crazy time. His tweet thread about it will surprise and inspire you. 

Why Senior Engineers Get Nothing Done

I hear this all the time from senior engineers: “I hardly code anymore.” I read this article and thought it was a great, clear explanation for why that tends to happen. If you’re an engineer (especially a senior one), this will make you chuckle and nod in agreement. More than that, it’ll help you find ways to protect your coding time and get back to the work you love the most.