"Product Hunt: The Internet's Destiny Machine" and "Good Product Manager/Bad Product Manager - Andreessen Horowitz" both provide valuable insights into the world of product development and management. While they may seem unrelated at first glance, there are common themes that can be explored to provide a comprehensive understanding of what it takes to create successful products.
Hatched by Kazuki Nakayashiki
Aug 12, 2023
5 min read
11 views
"Product Hunt: The Internet's Destiny Machine" and "Good Product Manager/Bad Product Manager - Andreessen Horowitz" both provide valuable insights into the world of product development and management. While they may seem unrelated at first glance, there are common themes that can be explored to provide a comprehensive understanding of what it takes to create successful products.
Product Hunt is often considered the go-to platform for new product launches. It has become almost unthinkable for a new product to launch without posting on Product Hunt. The platform offers an opportunity to win new users and attention at no added cost, often resulting in meaningful valuation changes for startups. This success can be attributed to Product Hunt's focus on building a genuine and warm community. Unlike other platforms like Hacker News or Reddit, Product Hunt has cultivated a community that is known for its kindness and support towards one another.
However, despite its popularity and success, Product Hunt initially struggled to generate revenue. This was a strategic choice made by the founder, Ryan Hoover, who prioritized the platform's growth over immediate monetization. In hindsight, Hoover acknowledges that dedicating a portion of their resources towards generating revenue would have been beneficial. To address this, Product Hunt launched a "Shop" in partnership with General Electric and explored other verticals such as integrating podcasts and book reviews. While these efforts didn't have a significant impact on revenue, Product Hunt has found success in advertising. The company sells various sponsorship products, including promoted listings, email collection, topic-based ads, newsletter sponsorship, and job postings. As a result, Product Hunt forecasts $3.3 million in revenue this year, with the majority coming from advertising.
In order to continue growing and evolving, Product Hunt should consider making some changes. One suggestion is to clear room for new growth by shutting down or transforming the site's least used corners. By doing so, Product Hunt can focus its resources on areas that have the most impact. Additionally, leveraging early traction data can be beneficial in giving an extra distribution bump to promising projects. For example, by analyzing the number of email sign-ups, Product Hunt can bring promising projects to the forefront and increase early engagement for makers. Furthermore, establishing an incubator could be a valuable addition to Product Hunt's offerings. This would help founders who are in need of guidance and support before they even have an idea or product to work on.
Now, let's shift our focus to the qualities of a good product manager, as outlined in "Good Product Manager/Bad Product Manager - Andreessen Horowitz." A good product manager is often referred to as the CEO of the product. They possess a deep understanding of the market, product, product line, and competition. This knowledge allows them to operate from a position of confidence and make informed decisions. They are responsible for devising and executing a winning plan, taking full ownership and accountability for the product's success.
Sources
Hatch New Ideas with Glasp AI 🐣
Glasp AI allows you to hatch new ideas based on your curated content. Let's curate and create with Glasp AI :)
Start Hatching 🐣