Todd Jackson: preference

Transcript context

…prise customer. Best of all, AuthKit is free for any developer up to one million users. Check it out at workos.com/lenny to learn more. That's workos.com/lenny. This episode is brought to you by Eppo. Eppo is a next-generation A/B testing and feature management platform built by alums of Airbnb and Snowflake for modern growth teams. Companies like Twitch, Miro, ClickUp and DraftKings rely on Eppo to power their experiments. Experimentation is increasingly essential for driving growth and for understanding the performance of new features. And Eppo helps you increase experimentation velocity while unlocking rigorous deep analysis in a way that no other commercial tool does. When I was at Airbnb, one of the things that I loved most was our experimentation platform where I could set up experiments easily, troubleshoot issues, and analyze performance all on my own. Eppo does all that and more with advanced statistical methods that can help you shave weeks off experiment time, and accessible UI for diving deeper into performance, and out-of-the-box reporting that helps you avoid annoying, prolonged analytic cycles. Eppo also makes it easy for you to share experiment insights with your team, sparking new ideas for the A/B testing flywheel. Eppo powers experimentation across every use case, including product, growth, machine learning, monetization, and email marketing. Check out Eppo at geteppo.com/lenny and 10 X your experiment velocity. That's geteppo.com/lenny. Todd, thank you so much for being here and welcome to the podcast. Lenny, I'm excited to be here. Thank you for having me. So first of all, just to mention you're a VC, which is very rare for this podcast. But you're a very special VC, you have a deep background in product, and I thought it might be helpful just to give a little bit of context on your product background, your product bona fides so people will get a real sense of just how legit you are as a product thinker. Yeah, you got it. So I am a VC. I'm a partner at First Round Capital now, and I've been at First Round for four years. But I was not a VC before First Round. So I started a company in 2013 called Cover, and that was actually funded by First Round 11 years ago. That's how I got to know First Round. And before that, I had worked on Gmail as the product lead in the early days, early 2000s and at Facebook. And then I started Cover, and we ended up selling Cover to Twitter in 2014. And I worked on a bunch of different products at Twitter. And then I was the VP of product and design at Dropbox. That was 2015 to 2018. So I have always loved product, and that's actually the reason now that I love being a seed stage VC because I love investing at the early stage founders who are pre-product-market fit and then helping them get there. And I just love doing that over and over again. I feel like we could have a whole other podcast episode on why you decided to move into venture versus staying in product. We can do it. But we're going to stay focused. So the reason we're here is that for over a year, you've been working on a product-market fit framework, essentially, a framework to help founders and product teams find product-market fit, which we should talk about this. But this is the most important thing you've got to get right as a founder in a product team is finding product-market fit. I got a peek at this framework. I love it. I love the way you've structured it, the way you're thinking about it. So what we're going to do today is walk through this framework in depth. First, I just want to spend a few minutes on setting a little context just so people understand who this is for and how to think about this. So maybe a first question is just why do you believe people need a framework for finding product-market fit? And just also, if you want to touch on why is product-market fit so important? Why is that something people should even be thinking about?…

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