Chamath Palihapatiya - How we put Facebook on the path to 1B users
I am yet to meet Chamath Palihapatiya, but every presentation and video of him is incredibliy insightful and honest. Thought its a bit long, I highly recommend watching this one. Thanks to Khailee Ng from 500 Startups for sending it along.
Key takeaways:
- While at facebook, what brought them the most success was efforts to help get every user to 10 friends in 7 days - that was it. Forget about K (viral coeficcient), and everything else else, not monetization, not anything.
- Don’t think about growth in short term, think long term, beyond the peaks and focus on building something big, not what will get you the short term spike but what will build core product value
- Find the aha moment for your users, and reduce the time it takes them to get there.
- Don’t act in conjunction with a lifestyle, or what might be expected, ruthlessly follow the vision and evolve based on data, not expectations or “gut”.