We're excited to announce that Greenlite has raised $4.8M led by
@GreylockVC
.
We're bringing LLM-powered coworkers to bank and fintech compliance teams, allowing them to support more customers while reducing risk.
Here's how we got here:
Today is my last day as a PM on WhatsApp Payments 💸
Thank you to
@skasriel
and
@davidmarcus
for creating this incredible team!
Wanted to share some of my learnings from building product in the fintech & payments space:
🧵 (1/12)
When I first became a PM, I tried to solve every problem the team was facing.
But this was 1) low impact, 2) low leverage.
To level up, I used some strategies from Reid Hoffman and Brian Chesky to be more effective with "putting our fires"
Let me explain:
Jotting down some lessons from
@ycombinator
before I forget:
1) If they won't pay for it, it's not valuable - free pilots, design partnerships and advisors are a trap
2) Launch early - we got our first two customers before we even had a website
con'td
Today is my last day as a PM at Facebook/Meta! 🙌🏽
While bittersweet, I’m grateful that I learned a ton from from some of the best PMs in the world.
Here are the most consequential ideas I learned about leading product teams:
I just published a 25-page, free guide for Associate Product Manager recruitment
RT to help me get it to all the diverse candidates who can't afford the $500 prep courses ✊
Here's the link:
There are PM prep courses that charge $500+ to “hack the interview”.
This feels wrong; tech shouldn’t be “pay-to-play”. With APM/RPM applications upon us, I made an 11-page guide for people who can’t pay for the courses.
RT to reach diverse candidates:
Now that
@ycombinator
demo day is over, I'd highly recommend reading Sam Altman’s essay on the “Post-YC Slump”.
In it, he shares a few reasons why companies slow down after the insanely fast growth of YC.
The key idea: they get distracted by fake work. This includes things
1) Perfection is table stakes.
If there's a bug in your app, it's forgivable. If there's a bug in your payment flow, you lose the user’s money AND trust.
Attention to detail is key for builders in this space.
(2/12)
I finally understand why Twitter > LinkedIn for professionals:
LI is for takers - you succeed with cold outreach, asking for help and self promotion
Twitter is for givers - you succeed by sharing knowledge, joining discussions & promoting others
There are four archetypes of successful PMs.
Find the right fit to advance quicker to PM leadership.
This builds on
@sachinrekhi
's original essay on finding "Product Culture Fit" and
@shreyas
's idea of 10-30-50 PMs.
Here we go 👇🏼
⚖️ Brain Chesky’s High Leverage To-Do List
1. Make an exhaustive list of tasks
2. Group them by their root cause
3. Ask what one action can take care of these 3? These 5?
4. Do it again and again.
This brings 20 to-dos to 3-5 high leverage actions. Think calling the fire dept:
To drive decisions across functions:
Assign a decision-maker, outline options, collect POVs and force a decision.
Here it is in a Google Sheet if it's useful:
(7/12)
Good PMs meet regularly with stakeholders to keep them informed.
Great PMs kill bad meetings to increase the velocity of their team.
3️⃣ ways to cull your calendar of ineffective meetings (with templates)
My co-founder and I are both Canadian and debated basing Greenlite in Toronto.
Ultimately, we decided on SF/the US for a few reasons:
1) American investors like American corporate structures and American investors make decisions faster with better terms (my findings from 100+
We need to be doing everything we can to turn Canada into the best place for entrepreneurs to build 🇨🇦
What's proposed in the federal budget will do the complete opposite. Innovators and entrepreneurs will suffer and their success will be penalized -- this is not a wealth tax,
My experience transitioning from growth to consumer fintech products:
1️⃣ product development is longer (years vs. weeks).
2️⃣ lower reliance on experimentation/data
3️⃣ more time spent on strategy than execution
(3/12)
📝 Summary
- Survey the scene before tackling fires.
- Learn to be comfortable with a persistent problem.
- Prioritize the largest fires to tackle first.
- Explore high-leverage actions that solve multiple fires in one go.
Full article:
2) There are 8x more people involved.
In growth, you need eng, DS and design to ship products.
In payments, you need this + legal, finance, risk, partnerships, policy, ops, marketing and more.
Working with these POVs is fascinating, but can also add complexity.
(5/12)
This forces foresight and planning.
One tool we used before rollouts to address risk: pre-mortems.
@shreyas
has a great thread on how to leverage this practice:
(4/12)
Twitter, now that we understand why the preventable problem paradox is so prevalent and pernicious, it’s time to talk about combating it.
So, as promised, here’s a thread on pre-mortems.
3) Tech debt is a privilege - you only earn the right to pay it down once you've built something a user loves and need to scale
4) Active customers force a better product - fixing bugs and adding feature requests is 10x more valuable than building what you think is needed
How does
@tryramp
ship genius products so quickly?
I went behind the scenes with
@geoffintech
, Ramp’s VP of Product, to see what sets them apart. We spoke about:
1. Org design
2. Hiring criteria
3. The role of product managers
and much more
Here are the 8 key ideas:
5) There's a ton of opportunity
2 things are clear:
1. Every company will be a fintech company (
@astrange
nails this concept: )
2. Payments will benefit billions, notably the financially excluded and SMBs
12/12
Losing your job must suck. If any product person is looking for their next role, please reach out.
I know 20+ companies who are actively hiring PMs, engineers or designers. Happy to make relevant intros where I can.
We've gotta help each other out during tough times.
🔑 Reid Hoffman’s Prioritization Grid
1. Assign probabilities for each of the risks becoming a reality
2. Assign vectors of possibility (is the probability of catastrophe going up or down?)
3. What’s the damage if it hits?
4. Is it correctable?
This can help minimize damage.
PM pro tip: Try adding completion %s in doc titles and share them earlier.
ex. “15% - PRD: 2022 Stablecoin re-platform”
My new team does this. I get 2x the feedback and my final docs are 10x better.
If you:
1. Manage a cross-functional team
2. Want to jump to a new role (ex. Ops -> PM)
3. Don't know what some of your teammates do 😭
Here are profiles of the most popular roles on a product team 👇🏽
I break them into 3 groups: the core team, specialists and professionals.
3/ Create the truth 📜
When you first join a team, write a "State of the Union".
This lets you:
1/ create context for their team
2/ show that they understand the team's problems
3/ build credibility
Here's a template modeled after a SOTU I wrote:
2 tips to drive cross-functional teams:
1️⃣ Single-Threaded Owners - one person (or function) should own the workstream. Creates accountability and action.
2️⃣ Force decision making - Capture opinions and force a decision. I used a simple framework to do this...
(6/12)
Final thoughts:
Take this all with a big grain of salt - I'm just figuring this all out myself 😅
But I'm fascinated and excited by what I'm seeing.
Folks in fintech - what are lessons you've learned in the space? 💸
Find a manager that holds you to a high standard.
When I was an L3 at Facebook, the best manager I ever had held me to the standard of L5.
She knew I was hungry and helped me to adopt the mindset and scope of a more senior PM. I grew a ton from her guidance.
My new team at Facebook has a great process for creating roadmaps.
Here is our six-week timeline:
Wk 1: Socialize Your Charter
Wk 2: Understand Share-outs
Wk 3: Ideation
Wk 4: Longlist to Shortlist
Wk 5: Prioritization and Goals
Wk 6: Consolidate
Let's break it down 👇
2️⃣ Local Players - LATAM has completely different issuers and acquirers than APAC. Success is built upon strong local partnerships.
3️⃣ Payment cultures- You need to cater to consumer habits to win. Ex. In Brazil 80% of eCommerce transactions are installments based.
(10/12)
[Side note] Keep an eye on national payment rails 👀
This is an under-appreciated development in fintech.
Ex. India's UPI is at 2B monthly transactions. Leveraging these rails and their existing base can help get products to scale.
(11/12)
5) Go-to-market is just as important as product - focusing on this early has helped us more than massive product iterations
6) A killer demo is worth its weight in gold - we spent days making sure it works perfectly and it still blows people away
3) Systems design is the role
Payments products are mostly backend. You must be fascinated with building scalable systems.
Eng will also be your main counterpart. Keep this in mind if you're coming from a design or business background.
(8/12)
7) Hiring is a distraction in the early days - founders can and should find as much product market fit as possible before hiring
8) Give customers your direct phone number - it creates a real relationship, trust and reassurance that you'll answer the call when they need you
If your calendar as a product manager is 95% meetings...
Try to:
Decline/cancel unnecessary meetings
Move communication async
So you can:
Define product direction
Learn about industry trends
Plan further ahead
Further reads on prioritizing fires as a PM:
- Let Fires Burn,
@mastersofscale
podcast:
- RICE prioritization by
@intercom
:
Don't get addicted to "proof-of-work" tasks by
@shreyas
:
Proof of Worth, a gentle product management rant:
When an early-career PM starts on a team, they might be told that they must build credibility with the builders (eng, design, analytics…)
They must prove their worth.
Fine advice, but it can go wrong long-term.
1/11
1/ Ask more from your team, not less 💪
Giving low-skill tasks to high-skilled teammates is a waste of their talents.
Use their full skillset by giving them bigger challenges.
This lets your team have more impact and increases the your own leverage.
Example:
2/ Let fires burn 🔥
Great PMs are comfortable with persistent fires. They can't solve everything.
Instead, they find higher-leverage ways of tackling more than one problem at a time.
Here's how Brian Chesky does it:
⚖️ Brain Chesky’s High Leverage To-Do List
1. Make an exhaustive list of tasks
2. Group them by their root cause
3. Ask what one action can take care of these 3? These 5?
4. Do it again and again.
This brings 20 to-dos to 3-5 high leverage actions. Think calling the fire dept:
Life update: I'm joining
@PaxosGlobal
to re-platform the financial system with blockchain 💸
A lot of people are considering web3 now, so I wanted to share my logic for:
- leaving big tech
- joining web3
- finding the right team
Hope it helps:
Q: How do you change your career trajectory?
A: You identify and jump into pivotal jobs.
Spotting these opportunities is a science; we can use the job description, our skill level and rubrics to pinpoint the highest growth opportunities.
a 🧵 on the "Pivotal Growth Model":
We just crossed 100 applicants in ~6 hours!
We have PMs from Spotify, Instacart, DigitalOcean, Fast, Uber, Datadog, Niantic and more in this list.
Man, I’m so excited to kick this off
When I started as a PM, the thing that changed the game for me wasn’t a newsletter or a course.
It was a community.
Next week, I’ll share what I’ve been working on to help top PMs change the trajectory of their careers.
Stay tuned❤️
Life update: I'm moving from SF to London 🇬🇧
This was a deeply personal decision based on a few ideas:
1) relationships create new opportunties
2) achievement is a hamster wheel
3) love > $$$
Here's a template to have immediate impact on your new team.
It's called a "State of the Union". It turns your first 30-days of listening into a useful narrative.
It helps to:
1. Create shared truth for your team
2. Build credibility
3. Clarify your understanding
4) Regional complexities
The internet makes a product built in Uruguay accessible in Jamaica.
But this is not (yet) the reality of payments. Here's why:
1️⃣ Regulation - govt decides which companies can operate in their systems. They all have different incentives.
(9/12)
"In >1 year as a PM @ Facebook I've created zero tickets/tasks."
This is the line from
@ViableBen
that divided the PM world.
I wanted to go deeper into:
1. how we define the PM role at FB
2. how execution works in practice
3. our real relationship with engineers
.
@shreyas
noticed that the surest path to PM leadership is to be a 10-30-50 PM.
This means you’re in the top 10% of one key skillset, top 30% of another and top 50% of a third.
This is a great framework to think about which skills you need to cultivate.
Wahooo my newsletter just passed 1,000 subscribers! 🕺🏽👯♂️
This is after 2.5 months and 10 weekly articles.
I'm still a noob, but here are some things that might help other folks get there first 1K 👇🏽
We’re growing the team at Greenlite! Here's why you should join us:
- We're backed by Y Combinator, Greylock and General Catalyst
- We generate significant ARR and are growing fast
- You get to be a part of the early team and work on mission-critical initiatives
We’re hiring
Being patient and surveying the scene first gives you two alternative paths to "firefight":
🔑 Prioritization
⚖️ Finding leverage
Here's one practical way of applying each of these:
A product manager is like a coach — our role is to maximize the impact of our team.
One way to do this: set challenges that use the full skillset of a teammate. Here's an example:
I'm not sending out a newsletter this week. This breaks a 28 week (6+ month) streak.
Why? Feel myself burning out across work, personal responsibilities and moving this week. Going to recharge a bit.
As a part-time creator, I need to be honest with my own capacity.
Robinhood's strategy is a cautionary tale for all builders in highly-regulated spaces.
I wanted to break down the growth strategy RH used and why it ultimately led to last week.
Drawing from my time as growth and fintech PM (🧵 and 🔗):
In the spring, my newsletter pivoted from career advice + product lessons to strictly templates/tools for PM.
I now get way more emails like this.
My takeaway: narrow your audience and address their unique needs.
To recap:
💪 Ask more of yout team
🔥 Let fires burn
📜 Create the truth
🎯 Execute perfectly
✅ Decide with criteria
🔎 Create scope
👏 Meta-Execute
🛣 Team decides what to build
I documented more lessons I observed building products here, check em out:
Excited to share that after graduation, I'll be joining Facebook in Menlo Park as a Product Manager in their RPM program! 🚀
I had some time to reflect and I wanted to write an article to explain my personal and professional journey up to this point:
Didn’t expect this to blow up, but while you’re here... 😅😅
Check out my newsletter:
Subscribe to learn more about product strategy and frameworks to navigating your career 🚀
An oldie, but a goodie. Especially relevant for new PMs.
If you focus too much on building credibility through execution, you'll forget to build strategy/direction for your product.
"The main job is to define products that will be successful." -
@shreyas
Proof of Worth, a gentle product management rant:
When an early-career PM starts on a team, they might be told that they must build credibility with the builders (eng, design, analytics…)
They must prove their worth.
Fine advice, but it can go wrong long-term.
1/11
gm! lucky to have some new followers so I wanted to intro myself🌞
I’m a PM working on web3 infra. Before this, I was at WhatsApp/Facebook.
I write about my learnings from building products + leading teams (35 essays last year, more soon)
List of my top learnings:
I really can't believe it -- my newsletter Product Life just passed 20,000 subscribers! 🥰
In the last 2 years, I wrote over 53 essays for product managers.
Below are the top 3 across:
1. 🚀 Career Growth
2. 🧱 Product Building
3. 🏗 Case Studies
lets roll
A junior PM would spring to action and start pouring water on the fire. With some time and effort, they may get the fire to die down.
A veteren PM would start by looking at look at all of the other houses on the block.
Uh-oh.
Starting replacing "Let me know if I can help" with "How can I help?"
It was unnatural at first (because I'm a terrible person) but I've found many things I can actually help with!
I LOVE
@lennysan
’s Community Wisdom emails.
Both for the content and what it achieves:
1) rewards active community members
2) encourages more community engagement
3) creates evergreen content
4) gives new value to all subscribers
Swapped tech podcasts for movie/tv podcasts and life got better.
Some faves:
The Business: the business behind movies/tv
Prestige TV: dives into event TV shows (Succession, Euphoria)
They’re Just Movies: pals chatting about blockbuster movies
Anyone other reccs?
I joined a new team 3 weeks ago. To add value quickly, I wrote my team a "State of the Union" (SOTU).
Deb Liu (CEO of Ancestry, ex-FB VP) introduced me to this idea . It helps build trust and a foundation for strategy.
Here's how to use it (with a template):
Being "technical" isn't your ability to code.
It's being fluent in one of the three skillsets necessary to build a product: design, engineering or data science.
Resources to build these skillsets here:
PMs are lonely. This leads to burnout and stunted career growth.
The opposite of loneliness isn't a bigger network; it's real PM friendships.
This is why we created Product Circle ⭕️
Applications close on Aug 31st!
Our origin story in a 🧵.
1/12
It's
@ycombinator
S23 Demo Day!
It's been a crazy summer. We went from a prototype of
@greenliteai
to supporting financial institutions across three continents with our AI agents.
And we're just getting started! Let's do this.
I’m officially 25!!!! 🥳 it’s been a ride so far and I’m proud of who I’m becoming. But still a long way to go!
What advice would you give your 25 year old self?
omg
@shreyas
likes Product Circle!!
"I hope this helps further PM camaraderie & collaboration across companies. We really need it as a community."
I'm even more excited to see where we go now - thanks Shreyas! 💪
Easily my fav part of being a big tech PM is the crazy talented engineers.
Engineers here are wicked smart, strong communicator and have a good product eye.
I’m getting spoiled.
Cracking the PM interview is one thing, but being a good PM is another.
What helped you become a better PM? Looking for:
1. Resources (books, blogs, videos etc.)
2. Communities
3. Courses
Man I'm stoked. So happy Product Life is resonating with 2.5K people.
Thank you to those that:
1) paved the way
2) subscribed
3) give feedback
Let's see where we go next!
The “Skip this Ad” button on YouTube is brilliant.
People think they’re winning by clicking it the moment you can. But that also guarantees you watch the first 5 seconds.
Gives you a sense of a control and forces attention.
@lennysan
For me, it was understanding my *real* role.
It’s easy to help with execution, participate in reviews etc. but these distracted me from delivering on a vision and roadmap for the product.
After 18 months, 52 essays and 50,000+ words...
I just passed 10,000 subscribers on my newsletter!
I started Product Life to help product managers grow their careers.
Here are the must-reads (according to the community):
For all the flak that FB gets, I'm proud & lucky to have worked with some really smart people.
This job changed my trajectory and taught me so much.
I'm going to enjoy the holidays with my family and jump into a new role in the new year. Stay tuned. 👀
Still in love with this piece by
@swyx
.
I feel like creating + working is a good mix for me. My work informs my writing and my writing helps me be better in my job.
The challenge is managing scope creep when creating. Timeboxing helps here ☺️
Q for product managers: how do you manage your personal tasks?
I'll start: I have a doc. Every day, I jot down three things I need to get done (e.g. Publish PRD X) and any tasks that take <10 min (e.g. email out sprint goals).
Pros: Lightweight
Cons: Not comprehensive
🚨 Hiring great product managers?
My
@Pallet_HQ
talent collective now has 111 PMs w/ 2-8 YOE from companies like:
Google
Coinbase
Shopify
Netflix
Zoom
Meta
Zoom
If you want access, comment below and I'll DM you a link w/ a code for the first month free 👀