Lenny's PodcastMayur Kamat: Why N26's CPO ditched strategy for experiments
What happens when PMs replace strategy with hypothesis-to-data cycle time; the Binance and N26 CPO argues compounding learning beats early compensation.
At a glance
WHAT IT’S REALLY ABOUT
Mayur Kamat’s unconventional playbook for faster, stronger product careers
- N26 CPO Mayur Kamat shares hard‑won lessons from leading product at Binance, Agoda, Google, Microsoft, and now N26, emphasizing speed of learning, experimentation, and aligning work with personal strengths. He unpacks Binance’s extreme execution culture, N26’s product and hiring philosophy, and why most PMs over-index on strategy instead of fast hypothesis testing. Mayur offers concrete career advice on choosing roles, regions, and paths (CPO vs founder vs specialist vs balanced life), and explains why early compensation and long, slow bets are usually bad optimizations. Throughout, he argues that PMs gain power and respect by making product scientific—through rigorous experimentation, deep attention to detail, and focusing only on the highest‑leverage problems.
IDEAS WORTH REMEMBERING
5 ideasOptimize for fast compounding of learning, not early compensation.
Choose high-growth environments where you ship constantly, see outcomes quickly, and build a strong network; the vast majority of lifetime earnings and opportunity will come later, so a 10–20% pay bump early on is usually a distraction.
Align your role with your true strengths—and be honest about them.
Figure out what you both excel at and enjoy (e.g., experimentation, stakeholder management, complex systems) using tools like strengths assessments and self-reflection, then seek roles and companies where success depends heavily on those strengths rather than your weaknesses.
Most PMs should obsess over cycle time from hypothesis to data, not grand strategy.
Mayur argues that in product, “strategy” is often just packaged intuition decided by the loudest voice; building a rigorous experimentation culture turns product decisions into science, gives PMs real authority, and makes strategy largely a byproduct of validated learning.
Focus your time on 10× leverage problems and be in the details.
Borrowing from Shreyas and founders he’s worked with, Mayur prioritizes work that can massively move KPIs (growth or existential risk), then personally dives into the granular metrics and flows—while keeping his calendar intentionally light to make space for this deep work.
Decide early if you truly want a C-level path—or something else.
Being a CPO/exec is not about prestige; it’s about genuinely loving that kind of work so sacrifices don’t feel like sacrifices. Many people would be happier and equally “successful” as exceptional ICs, specialists, founders, or balanced-life directors who derive meaning outside work.
WORDS WORTH SAVING
5 quotesFor most product managers, your strategy should be: how fast can I go from hypothesis to data?
— Mayur Kamat
The challenge with being a product manager is everybody thinks they can do their job.
— Mayur Kamat
The moment you build experimentation, you have now made it scientific.
— Mayur Kamat
There's no right or wrong decision—there's just slow and fast decisions.
— Mayur Kamat
Do not optimize for compensation, especially early in your career. You’ll make 90% of your compensation in the last five years.
— Mayur Kamat
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