Reflections on a movement | Eric Ries (creator of the Lean Startup methodology)

ℹ️ EPISODE INFO

Released

October 29, 2023

Duration

2h 14m

Channel

Lenny's Podcast

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

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:

• The current state of the Lean Startup methodology
• Common misconceptions about the Lean Startup methodology
• Understanding how to actually think about MVPs (minimum viable products)
• When to pivot and when to stay the course
• Thoughts on AI and how to deal with uncertainty
• How to structure your company around core values and create products that benefit humanity
• The philosophy behind Eric’s current big idea: the Long-Term Stock Exchange
• Much more

— Brought to you by Sanity—The most customizable content layer to power your growth engine: https://www.sanity.io/lenny | Jira Product Discovery—Atlassian’s new prioritization and roadmapping tool built for product teams: https://atlassian.com/lenny/?utm_source=lennypodcast&utm_medium=paid-audio&utm_campaign=fy24q1-jpd-imc | LinkedIn Ads—Reach professionals and drive results for your business: https://www.linkedin.com/podlenny Find the transcript and references at: https://www.lennyspodcast.com/reflections-on-a-movement-eric-ries-creator-of-the-lean-startup-methodology/ 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 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.

🎤 SPEAKERS

• Eric Ries

  guest

• Lenny Rachitsky

  host

• Narrator

  other

🧾 EPISODE SUMMARY

In this episode of Lenny's Podcast, featuring Eric Ries and Lenny Rachitsky, Reflections on a movement | Eric Ries (creator of the Lean Startup methodology) explores eric Ries Rethinks Lean Startups, MVPs, Pivots, AI, And Purpose Eric Ries reflects on the evolution and widespread adoption of the Lean Startup methodology, how its once-controversial ideas (like MVPs and pivots) have become default startup vocabulary, and the many ways they’re still misunderstood. He reframes MVPs as rigorous learning tools rather than low-quality products, explains when and how to pivot versus persist, and stresses that most early work will be thrown away—so founders should minimize wasteful building.

🔗 RELATED EPISODES

How to build a company that withstands any era | Eric Ries, Lean Startup author

Head of Claude Code: What happens after coding is solved | Boris Cherny

Building product at Stripe: craft, metrics, and customer obsession | Jeff Weinstein (Product lead)

Building a world-class data org | Jessica Lachs (VP of Analytics and Data Science at DoorDash)

What most people miss about marketing | Rory Sutherland (Vice Chairman of Ogilvy UK, author)

5 essential questions to craft a winning strategy | Roger Martin (author, advisor, speaker)