Mike Hudack: How Facebook, Monzo and Deliveroo Build Great Products | E1201

Mike Hudack is the Co-Founder and CEO of SlingMoney, a peer-to-peer payments app whose vision is to simplify the way the world connects financially. Previously, he held roles at Monzo Bank as Chief Product Officer, Deliveroo as Chief Product and Technology Officer, and Facebook where he led ads product and sharing product. ----------------------------------------------- Timestamps: (00:00) Intro (01:32) “Founder Mode” Insights: Experience at Top Firms & Founding Startups (03:10) Lessons from Leading Ads at Facebook (08:14) Lessons How To Structure Different Teams (13:06) Biggest Product Mistake at Facebook (15:47) Talk vs. Dictatorial Vision: What's Best for Teams? (25:20) Leading Product at Deliveroo (32:53) The Best Product Decision Made at Deliveroo (37:24) When Data Led to the Wrong Conclusion (39:23) Lessons From Competition (40:52) How Quickly To Know If a Product Doesn’t Work in Consumer Apps (42:51) Lessons on Product Building at Monzo (45:28) Is the US the Right Move for Monzo? (46:41) How Mike Reacted When Competitors Ship Products Faster (50:41) Best Monzo Product Success & Biggest Flop (53:30) Leadership (58:10) Exceptional Execution as a Founder & Being a Great Parent (01:02:21) Quick-Fire Round ----------------------------------------------- In Today’s Episode with Mike Hudack We Discuss: 1. Product: Art vs Science: What is the true art of product? What makes the great product leaders and PMs? Is simple always better in product? How do you retain product simplicity with time? When should data be used over intuition in product building? 2. Lessons from Leading Ads at Facebook: What are Mike’s single biggest product lessons from building the ads product at Facebook? How did a meeting with Mark Zuckerberg discussing a product change, alter how Mike thinks about product today? What makes Zuck so special on product? What are the biggest mistakes that Facebook made when it came to the ads product? What did they not do that he wishes they had done? 3. Leading Product at Deliveroo: What I Learned: What are Mike’s biggest takeaways from his time at Deliveroo on how to make consumer products? What did Deliveroo do from a product perspective that worked so well? What did he learn? What were the single biggest product mistakes that Deliveroo made? What did he learn? How fast do you know when a consumer app is working or not working? When do you go against data and follow your intuition? 4. Building the Biggest Bank in Britain with Monzo: What are Mike’s biggest lessons on product building from his time at Monzo? What did Monzo not do that he wishes they had done? Why does Mike think the US is crucial for Monzo? How did Monzo change how Mike thinks about competition? What do you do when your competitor, Revolut, is outshipping you at such a speed? ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow Mike Hudack on Twitter: https://twitter.com/mhudack Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #mikehudack #venturecapital #ceo #facebook #zuckerberg #monzo #deliveroo #product #whatsapp #leadership