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Billion dollar failures, and billion dollar success | Tom Conrad (Quibi, Pandora, Pets.com, Zero)

Billion dollar failures, and billion dollar success | Tom Conrad (Quibi, Pandora, Pets.com, Zero)

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Tom Conrad is the CEO of Zero and on the board of Sonos. He began his career in engineering at Apple, where he helped build key features that remain in iOS today. Tom was previously the VP of Product at Snap and the chief technology officer of Pandora. He also held leadership positions at notable tech flops Pets.com and Quibi, giving him a unique perspective not only on what it takes to build a successful company but also on lessons from failure. In today’s conversation, we discuss: • Lessons learned from the infamous failures of Pets.com and Quibi • Lessons learned from the successes of Apple, Pandora, and Snap • Advice on choosing where to work • Understanding the math formula of a business • How to avoid burnout • Why Tom says not everyone needs to be a founder • What he’s building now — Brought to you by Coda—Meet the evolution of docs: https://coda.io/lenny | Jira Product Discovery—Atlassian’s new prioritization and roadmapping tool built for product teams: https://atlassian.com/lenny/?utm_source=lennypodcast&utm_medium=paid-audio&utm_campaign=fy24q1-jpd-imc | HelpBar by Chameleon—the free in-app universal search solution built for SaaS: https://helpbar.ai/lenny/?utm_source=lennys-podcast&utm_medium=sponsorship&utm_campaign=helpbar-launch-lennys-podcast Find the transcript at: https://www.lennysnewsletter.com/p/billion-dollar-failures-and-billion Where to find Tom Conrad: • X: https://twitter.com/tconrad • LinkedIn: https://www.linkedin.com/in/tomconrad/ Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • X: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ In this episode, we cover: (00:00) Tom’s background (04:40) Landing a gig at Apple (07:41) Pioneering the blinking folder design on iOS (11:04) Advice on choosing where to work (12:43) The importance of trusting your gut when it comes to people (14:05) Lessons from failed ventures (17:32) Why and how Pets.com shut down (18:30) How Tom’s experience at Quibi renewed his passion for building (28:48) Takeaways from Quibi and why it ultimately failed (31:42) Failing is okay (35:04) Tom’s career at Apple (39:11) Lessons from You Don’t Know Jack (40:24) Lessons from building Pandora (48:24) Looking back at Pandora and what could have been done differently (55:17) How Tom became VP of Product at Snapchat (1:01:31) Tom’s philosophy on being involved as CEO (1:05:51) Tom’s current role as CEO of Zero, and what he’s learned along the way (1:10:37) How Zero builds product (1:18:33) Advice on work-life balance (1:27:22) Contrarian corner: why not everyone needs to be a founder (1:30:08) Lightning round Referenced: • Ron Lichty on LinkedIn: https://www.linkedin.com/in/ronlichty/ • 11 reasons why Quibi crashed and burned in less than a year: https://www.theverge.com/2020/10/22/21528404/quibi-shut-down-cost-subscribers-content-tv-movies-katzenberg-whitman-tiktok-netflix • Meg Whitman: https://en.wikipedia.org/wiki/Meg_Whitman • Jeffrey Katzenberg on LinkedIn: https://www.linkedin.com/in/jeffrey-katzenberg-4b3b47123/ • John Sculley on LinkedIn: https://www.linkedin.com/in/johnsculley/ • Flickr: https://www.flickr.com/ • How Pandora Soothed the Savage Beast: https://www.fastcompany.com/3001052/how-pandora-soothed-savage-beast • Joe Kennedy on LinkedIn: https://www.linkedin.com/in/joe-kennedy-329417/ • Why Did Yahoo Pay $160 Million for Musicmatch?: https://www.wired.com/2007/07/why-did-yahoo-p/ • TikTok Is the New TV: https://www.wired.com/story/tiktok-new-show-tv-takeover/ • Evan Spiegel on X: https://twitter.com/evanspiegel • Flashtags: https://lane.substack.com/p/flashtags • Patrick Spence on LinkedIn: https://www.linkedin.com/in/patrickspence/ • The Philosophy of Ikigai: 3 Examples About Finding Purpose: https://positivepsychology.com/ikigai • The Subtle Art of Not Giving a F*ck: A Counterintuitive Approach to Living a Good Life: https://www.amazon.com/Subtle-Art-Not-Giving-Counterintuitive/dp/0062457713 • High Growth Handbook: Scaling Startups from 10 to 10,000 People: https://www.amazon.com/High-Growth-Handbook-Elad-Gil/dp/1732265100 • Hyperion: https://www.amazon.com/Hyperion-Cantos-Dan-Simmons/dp/0553283685 • A Fire Upon the Deep: https://www.amazon.com/Fire-Upon-Deep-Zones-Thought/dp/0812515285/ • Mrs. Davis on Peacock: https://www.peacocktv.com/stream-tv/mrs-davis • Watchmen on HBO: https://www.hbo.com/watchmen • Lost on Hulu: https://www.hulu.com/series/lost-466b3994-b574-44f1-88bc-63707507a6cb • Eartune replacement tips: https://eartune.com/products/eartune-fidelity-ufa • Charles Eames’s quote: https://www.brainyquote.com/quotes/charles_eames_169188 • Compuserve: https://www.compuserve.com/ • Steve Wilhite: https://en.wikipedia.org/wiki/Steve_Wilhite Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com. Lenny may be an investor in the companies discussed.

Segments Timeline

1
0:00 - 1:57
1:57 duration368 words

The Myth of the Founder

Tom Conrad discusses the misconception that everyone needs to be a founder in the tech industry. He argues that many talented individuals would be better off joining existing teams where their skills can contribute to solving meaningful problems, rather than starting companies that may not succeed. He emphasizes the importance of collaboration and finding a business model that works, regardless of the role one plays.

"there's this belief that everybody needs to be a Founder I think in some ways our industry would be much better off if there were fewer Founders and there's an entire category of smart creative hardwo..."

2
1:57 - 4:40
2:42 duration431 words

Tom's Journey to Apple

Tom shares his journey to becoming an engineer at Apple, detailing how he secured an internship through a letter and a stroke of luck. He reflects on his early ambitions to work on the Macintosh and the significance of being part of a team that shaped the future of computing. This segment highlights the importance of seizing opportunities and the role of luck in career paths.

"short word from our sponsors this episode is brought to you by Kota you've heard me talk about how Kota is the dock that brings it all together and how can help your team run smoother and be more effi..."

3
4:40 - 7:41
3:01 duration592 words

Innovating the Finder

In this segment, Tom recounts his experience working on the Finder at Apple, where he proposed the idea of spring-loaded folders. He describes the process of coding a feature that would later become iconic, illustrating how initial ideas can evolve over time. This story emphasizes the importance of innovation and the long-term impact of design decisions in technology.

"docomomo fun to get to be a part of this I thought it'd be fun to start with a story about your time at Apple and you building this now very ubiquitous feature of dragging and dropping something into ..."

4
7:41 - 12:10
4:29 duration874 words

Choosing the Right Workplace

Tom discusses the critical factors in choosing where to work, emphasizing the significance of the people you collaborate with over the product itself. He reflects on his experiences at both successful and failed companies, noting that personal satisfaction often correlates more with team dynamics than external success metrics. This segment offers valuable insights for professionals navigating their career choices.

"yeah I get to Apple in the summer of 1992 and I have a laundry list of things that I would like to do to make the finder more you know usable and I remember sitting in Ron's office and saying you know..."

5
12:10 - 15:00
2:50 duration603 words

Lessons from Notable Disasters

Tom shares lessons learned from his experiences at Pets.com and Quibi, two infamous tech failures. He reflects on how these experiences, while challenging, opened doors for him and provided valuable insights into the tech industry. This segment highlights the importance of resilience and learning from failure in one's career.

"take care of itself and interestingly like I have been lucky enough to have some things that were were successful you know on the metrics get talked about the most big audiences big Financial return e..."

6
15:00 - 16:48
1:48 duration293 words

The Arms Race of E-Commerce

In this segment, Tom discusses the competitive landscape of pet e-commerce during the rise of Pets.com. He explains how overfunding led to irrational spending and an unsustainable arms race among competitors. This analysis provides a cautionary tale about the dangers of excess investment and the importance of strategic decision-making in business.

"learned those things and had those experiences and and frankly even in the case of pets.com like even the high profile nature of it I could have worked at I could have worked at uh you know one of a t..."

7
16:58 - 18:01
1:02 duration207 words

Shutting Down Pets.com

Conrad shares the decision-making process behind shutting down Pets.com, explaining that the leadership team opted to return remaining funds to investors rather than prolonging a losing battle. This decision marked a significant moment in corporate responsibility and transparency in the tech industry.

"it's probably unfair to compare chewy who who executed exceptionally well over a decade grew their business Brick by Brick and turned it into something really remarkable to pest.com which was you know..."

8
18:01 - 19:01
1:00 duration190 words

Rediscovering Passion at Quibi

Tom discusses how his experience at Quibi reignited his enthusiasm for the tech industry after a period of doubt. He reflects on the initial excitement of building a new platform and the challenges that came with it, illustrating the emotional journey of a tech leader.

"just like reached the conclusion that that given the way market conditions had evolved there was just no way we were going to be able to get more Capital into the company and and it was a company that..."

9
19:01 - 20:01
1:00 duration257 words

The Allure of New Ventures

Conrad recounts his initial reluctance to join Quibi, considering a career change to pursue unrelated passions. However, he ultimately embraced the opportunity, showcasing the allure of new ventures and the importance of seizing unexpected opportunities.

"making software I had done it for a really long time I done for like 25 years or something and I had changed a lot the industry had changed a lot and I thought maybe I just didn't have the same passio..."

10
20:01 - 21:57
1:55 duration360 words

Building from Scratch at Quibi

Tom shares the excitement of building a team and product from the ground up at Quibi. He highlights the modern software architecture advancements that facilitated this process, emphasizing the rewarding nature of creating something new in the tech landscape.

"there but a few months uh after my last day at snap I got a call from Meg Whitman and Jeffrey kenberg who were starting up it was called new TV at the time and you know the pitch was we're going to tr..."

11
21:57 - 23:35
1:38 duration298 words

The Math Behind Business Success

Conrad introduces the concept of viewing companies as math problems, where investment and returns must align. He reflects on how Quibi's ambitious content strategy may have miscalculated the necessary investment to achieve success, illustrating the critical importance of sound financial planning in tech ventures.

"and um my wife is a freelance writer marketing strategist and loves her life as a freelance contributor and she's like you should do this like why not it's two days a week it's just a few months what'..."

12
23:35 - 24:59
1:23 duration239 words

Content Strategy Missteps

Tom discusses the challenges Quibi faced in executing its content strategy, particularly during the COVID-19 pandemic. He explains how the inability to produce high-quality content as planned led to significant setbacks, highlighting the importance of adaptability in business.

"there something that you took away from that experience that taught you what to try to avoid what to try to pull towards I think I sort of misunderstood or misjudged companies sometimes by thinking ab..."

13
24:59 - 26:26
1:26 duration210 words

The Flaws in Quibi's Business Model

Conrad critiques Quibi's foundational business model, arguing that the assumptions about content production and audience retention were fundamentally flawed. He emphasizes the need for a robust content library and the ability to iterate on offerings to succeed in the competitive streaming landscape.

"that you build and all of the little details and decisions that you make about making that product great but if the equation is fundamentally broken or a big swing in and of itself no amount of like i..."

14
26:26 - 27:10
0:44 duration146 words

Marketing Challenges at Quibi

Tom reflects on the ambitious marketing strategies employed at Quibi, which relied heavily on Hollywood's star power. He discusses the challenges of translating traditional marketing success into the digital realm, emphasizing the need for realistic expectations in user acquisition.

"super interesting thing that no one about is that all of that content was designed to be made like day of or day before it aired so there was no back catalog of it and it was all designed to be shot i..."

15
27:10 - 28:24
1:14 duration219 words

Lessons Learned from Quibi

Conrad shares key takeaways from his experience at Quibi, particularly the importance of understanding market dynamics and the challenges of scaling a new content platform. He stresses the need for clear communication and data-driven decision-making in leadership roles.

"which is sort of like self-produced at home with you know very little sort of of the support infrastructure of Hollywood now you can argue I mean I think the content on YouTube is really really except..."

16
28:24 - 30:06
1:42 duration324 words

The Reality of Digital Distribution

Tom discusses the harsh realities of digital distribution and user acquisition, reflecting on the challenges Quibi faced in achieving its ambitious goals. He emphasizes the importance of setting realistic expectations and understanding the competitive landscape in tech startups.

"than than anyone can stomach wow I really like this metaphor and this mental model of the math formula of the entire business and thinking of it that way I knew Co changed the way people consumed cont..."

17
30:40 - 32:20
1:40 duration295 words

The Math Behind Quibi's Model

In this segment, Tom critiques the foundational math behind Quibi's business model, emphasizing the necessity of landing in the top 10 app rankings immediately after launch. He shares insights on the improbability of achieving sustained user retention and the pressure of high content production costs. Tom reflects on his own contributions and the lessons learned about user acquisition and retention in a fast-paced digital environment.

"marketing apparatus the numbers that it takes to get there felt kind of small you know if you can get 20 million people in to see Shrek on opening night new IP like surely you can get them to take the..."

18
32:20 - 34:10
1:49 duration353 words

Accepting Failure as Part of the Game

Tom Conrad addresses the reality of failure in the tech industry, particularly in relation to Quibi. He discusses the risks involved in entrepreneurial ventures and the responsibility felt towards investors when outcomes are not favorable. This segment emphasizes the importance of acknowledging failure as a natural part of innovation and the lessons that can be drawn from such experiences.

"was I guess I imagined that we would launch and when the likely thing happened that we you know got millions of people to download the app which we did and then that we when we inevitably struggled to..."

19
34:10 - 35:01
0:51 duration181 words

The Missed Opportunity of New TV

Tom shares a personal anecdote about a missed opportunity with 'New TV,' a project involving Jeffrey Katzenberg and Meg Whitman. He reflects on how different his career path could have been had he pursued that opportunity. This segment highlights the unpredictable nature of career decisions in the tech industry and the potential for significant shifts in trajectory.

"that goes along with these Investments and part of the reason I get you know all the riches on the on the upside is that they're gonna they're gonna bet on some quies along the way too so as you were ..."

20
35:01 - 36:57
1:55 duration373 words

Lessons from Notable Successes

In this segment, Tom shifts focus to his successful ventures, including his experiences at Snap, Pandora, and Apple. He outlines key lessons learned from these roles and the importance of deep expertise versus being a generalist. Tom emphasizes the value of contributing meaningfully to projects and the impact of company culture on personal and professional growth.

"going to read through this and see see what they pitched back in the day okay let's move on to things that worked out really well let's call notable successes other products you worked on that that wo..."

21
36:57 - 39:20
2:23 duration402 words

The Impact of Culture at Apple

Tom reflects on his time at Apple during a pivotal era, discussing the cultural dynamics that shaped his experience. He contrasts the collaborative environment at Apple with the more focused roles at other companies, emphasizing the importance of specialization and deep contributions. This segment provides insights into how Apple's culture influenced his development as a product leader.

"talented software engineer but also a thoughtful product designer and maybe also had interesting input on product marketing that you could build a really great reputation inside the company by playing..."

22
39:20 - 40:05
0:44 duration148 words

The Cultural Phenomenon of You Don't Know Jack

Tom shares his experience working on the iconic trivia game 'You Don't Know Jack' and the cultural impact it had. He discusses the importance of deep technical expertise gained during this project and how it shaped his career. This segment highlights the significance of creating products that resonate with audiences and the lasting legacy of successful entertainment.

"and so I do think that there's something to be said for a culture where there are swim lanes and people are encouraged to be like really really exceptional in their Lane and uh so I'm I feel really lu..."

23
40:05 - 42:01
1:56 duration364 words

From Pets.com to Pandora: A Journey of Resilience

Tom recounts his transition from Pets.com to Pandora, detailing the challenges faced during the 'nuclear winter' of the tech industry. He shares how his experiences at Pets.com, despite being a failure, ultimately contributed to his success at Pandora. This segment illustrates the interconnectedness of experiences in shaping a career and the resilience required to navigate the tech landscape.

"day it's crazy did not know that I see the website now and yeah it's a little different but basically the same so I'd say my lesson for you know my my my lesson from from You Don't Know Jack was defin..."

24
42:01 - 44:59
2:58 duration558 words

The Birth of Pandora's Personal Radio

In this segment, Tom discusses the inception of Pandora and the innovative concept of 'one-click personal radio.' He shares the serendipitous encounter that led to his role at Pandora and the collaborative culture that allowed for creative freedom. This segment highlights the importance of adaptability and the power of teamwork in building successful products.

"that is I I was sort of biting my time to exit this enterprise software company I was BP of engineering I a whole team that reported to me I felt a lot of responsibility to to exit in a responsible wa..."

25
44:59 - 46:47
1:47 duration346 words

Engaging with Users: A Human Approach

Tom reflects on Pandora's early customer engagement strategy, where every employee was involved in responding to user feedback. He emphasizes the value of genuine interactions with users and how this approach fostered a strong connection with the audience. This segment underscores the importance of maintaining a human touch in customer service and product development.

"yours and I got to you know I got to build the team and the culture you know in collaboration with him and Tim the founder over the course of the the next 10 years and you know it's just every every e..."

26
45:54 - 48:11
2:17 duration460 words

Lessons from Pandora's Growth

In this segment, Tom reflects on the growth of Pandora from its inception to becoming a multi-billion dollar company. He emphasizes the importance of authenticity in brand engagement and how their approach to customer service and product development set the stage for future streaming services like Spotify.

"whoever sees the the request first should respond to it and so you know you would write to us and you would get the founder or you get me or you'd get the engineer who wrote the feature you'd get the ..."

27
48:11 - 50:12
2:00 duration405 words

The Challenges of Digital Music

Tom discusses the challenges Pandora faced in the digital music landscape, including investor skepticism and the difficulties in establishing relationships with record labels. He contrasts Pandora's early struggles with the later success of Spotify, highlighting how market perceptions and investor enthusiasm shifted over time.

"there's the numbers are still tens of millions of people in the US listen every month so it's uh it's a thing but yeah it's I mean it's it's it's a little sad that it didn't it didn't have the quite t..."

28
50:12 - 52:26
2:14 duration348 words

Misjudging the Future of Music Streaming

Tom reflects on Pandora's initial vision of reinventing radio and how they misjudged the shift towards streaming music. He discusses the licensing challenges they faced and how their approach ultimately limited their ability to adapt to the evolving music consumption landscape.

"was very hard for us to to to to take the same kind of risks that that that Spotify took but then I think we just completely misjudge one really important thing which is that we were really inspired b..."

29
52:26 - 53:01
0:34 duration130 words

Timing and Innovation: Lessons from Quibi

Tom draws parallels between the timing of Pandora's launch and Quibi's failure, suggesting that sometimes ideas come too early. He discusses the current trends in mobile video consumption and how Quibi's vision may still find relevance in the future.

"it was just it was too late it's interesting that so much of this was rooted in that original Vision that you shared of Pandora of the radio smart radio in your pocket like radio personal radio that l..."

30
53:01 - 54:06
1:05 duration207 words

The Future of Mobile Video

In this segment, Tom discusses the evolution of mobile video content, referencing recent trends that echo Quibi's original vision. He highlights the potential for purpose-built video for mobile platforms and the ongoing relevance of short-form content in today's digital landscape.

"about that just today there's a headline about a Hollywood produce show that's launching on Instagram reals and Tik Tock that was shot vertical and the headline is literally something like is Tik Tock..."

31
54:06 - 56:04
1:57 duration363 words

Navigating the Role of a Product Leader

Tom shares his experiences transitioning from Pandora to Snapchat, emphasizing the differences in leadership styles and product vision. He discusses the importance of collaboration and how his role evolved in a fast-paced environment, learning to balance execution with innovation.

"right this episode is brought to you by help bar by chameleon the free inapp Universal search solution built for SAS your help content lives outside your app and is scattered in many places forcing us..."

32
56:04 - 1:00:05
4:01 duration772 words

Risk-Taking in Product Development

Tom reflects on the lessons learned about risk-taking during his time at Snapchat. He discusses how having strong financial backing allows for bolder product decisions and the importance of fostering an environment where innovation can thrive, contrasting it with his experiences at Pandora.

"have so uh I leap pendor after a decade I take like a a year and try to figure out what I'm gonna do next but after about a year I got introduced to to Evan and it's kind of a funny story uh I a mutua..."

33
1:00:05 - 1:01:56
1:50 duration320 words

The Balance of Leadership as CEO

In this concluding segment, Tom discusses his philosophy as a CEO, focusing on the balance between setting direction and empowering teams. He reflects on the importance of creating an environment where talented individuals can excel while also being involved in product development.

"it to be and after a couple of years I like I said I thought maybe I just wanted to like make croissants or something but one one really really big important lesson that I learned at snap is about ris..."

34
1:01:20 - 1:02:50
1:30 duration274 words

Navigating Leadership Styles

In this segment, Tom reflects on the challenges of being a product-oriented CEO. He discusses the balance between being detail-oriented and allowing team autonomy, drawing lessons from his time at Apple. Tom emphasizes the importance of decisive leadership while fostering a culture where talented individuals can thrive without excessive micromanagement.

"it resonates a lot with what Brian shared about how he thinks about product now would just kind of telling people kind of what to build versus very bottom up tell us ideas you have that impact the way..."

35
1:02:50 - 1:04:30
1:40 duration281 words

The Shift from Product Leader to CEO

Tom Conrad discusses his transition from a product leader to the CEO of Zero. He shares his motivations for seeking a role where he could directly influence company culture and values. This segment highlights the personal growth and insights gained from his previous experiences, particularly in understanding the broader business dynamics beyond product development.

"one wasn't Steve Jobs necessarily it could be somebody else he wasn't there H wow so so um I think I think what broke Apple out of that mode was Steve came back and like they didn't vote anymore like ..."

36
1:04:30 - 1:06:00
1:30 duration284 words

Understanding Business Metrics

Tom emphasizes the importance of understanding business metrics such as lifetime value and customer acquisition cost. He shares how his perspective evolved to appreciate the mathematical aspects of running a company, which he previously overlooked. This segment serves as a reminder for product leaders to grasp the financial fundamentals that drive business success.

"business but not overplay my hand with respect to dictating uh outcomes the one thing you'll always have a CEO is no matter how much you tell the team that when I swing by their virtual desk and say y..."

37
1:06:00 - 1:07:30
1:30 duration324 words

The Journey to Zero

In this segment, Tom recounts his journey to becoming the CEO of Zero, a health-focused company. He discusses the personal health challenges that motivated him to seek a role where he could make a positive impact. Tom's story illustrates the intersection of personal experience and professional opportunity, leading to a fulfilling leadership role.

"company called zero what is it like to move from just being a product leader an engine leader at a company to being the CEO for the first time why did you use zero as that role and what have you learn..."

38
1:07:30 - 1:09:00
1:30 duration269 words

Building a Successful Health Platform

Tom shares insights into Zero's growth and success in the health sector. He highlights the company's user engagement and retention strategies, emphasizing the importance of delivering real value to users. This segment showcases how Zero has achieved organic growth through effective product-market fit and user satisfaction.

"thought was I would start something so I company idea I was kind of quietly workshopping for some months and completely independed from all of that it's you know eight months into the pandemic and my ..."

39
1:09:00 - 1:10:30
1:30 duration310 words

The Balance of Art and Science in Business

Tom discusses the duality of viewing software development as both an art and a science. He reflects on how his understanding of business metrics has evolved, allowing him to appreciate the broader picture of company operations. This segment encourages product leaders to integrate creative thinking with analytical approaches for holistic business success.

"this path and was using it to um to help on my own uh sort of Health journey and uh Mike merer founded the company four and a half years ago and he and I were talking in this interval about my own exp..."

40
1:10:30 - 1:12:00
1:30 duration273 words

Lessons from Board Meetings

In this segment, Tom shares his revelations from attending board meetings, where discussions often focused on high-level business metrics rather than product specifics. He emphasizes the importance of understanding the underlying business equations that drive success, encouraging product leaders to align their focus with broader company goals.

"that you know it's not challenging all startups are challenging and you know what we've really focused on for the last couple of years is we've been really focused on unit economics like really trying..."

41
1:12:00 - 1:13:30
1:30 duration269 words

The Power of Business Models

Tom concludes by discussing the significance of creating comprehensive business models that outline key metrics and leverage points. He shares how this approach has transformed his perspective on product development and business strategy, highlighting the need for product leaders to engage deeply with the financial aspects of their companies.

"an equation that describes the business it talks about like how you turn investment into returns and I suppose I had come up with finance and then a business major that maybe that's the way that I wou..."

42
1:14:27 - 1:15:49
1:22 duration304 words

Understanding Business Models as a Product Leader

Tom Conrad emphasizes the importance of product leaders understanding the business model deeply. He reflects on his experiences in board meetings where discussions often focused on high-level business metrics rather than product details. This segment highlights the need for product leaders to align their thinking with the broader business strategy to effectively influence company direction.

"deliver incredible results you know like everything in life you just I me you sign up for things so you can learn and and and that's the big one for me in the last year I really love that takeaway of ..."

43
1:15:49 - 1:17:02
1:12 duration259 words

The Success of Consumer Subscription Apps

In this segment, Tom discusses the rarity of success in consumer subscription apps, using Zero as a case study. He shares insights on the financial metrics that drive success, such as LTV and CAC, and reflects on the conscious decisions made to optimize organic growth rather than relying on paid user acquisition. This discussion provides valuable lessons for entrepreneurs in the subscription space.

"optimization of this equation and I think particularly if you sit on 25 boards it's probably a much more efficient way to evaluate how your companies are doing where to spend your time and how to help..."

44
1:17:02 - 1:18:14
1:12 duration237 words

Navigating Market Expectations and Capital Efficiency

Tom shares his perspective on the changing landscape of startup funding and market expectations. He contrasts the capital-intensive strategies of the pandemic era with the current need for capital efficiency. This segment offers insights into how entrepreneurs can adapt their strategies to align with market demands and optimize growth sustainably.

"we've had a tremendous year and I'm just so so proud of the the team we've assembled they're they're incredible to the last part of the reason you're so successful is exactly what you said there's a h..."

45
1:18:14 - 1:19:31
1:17 duration243 words

Finding Balance: Mental Health and Avoiding Burnout

Tom discusses his journey in maintaining mental health and avoiding burnout throughout his career. He introduces the Japanese concept of Ikigai, which emphasizes finding the intersection of what you love, what you're good at, what the world needs, and what you can be paid for. This segment provides a framework for listeners to evaluate their own careers and find fulfillment.

"um you know it's I I guess I feel somewhat fortunate that my you know my my natural inclination as an entrepreneur is more in sync with expectations of the market than than it was for for a while okay..."

46
1:19:31 - 1:21:28
1:56 duration382 words

The Importance of Relationships Over Experiences

In this reflective segment, Tom shares his realization that relationships are more valuable than transient experiences. After taking time off to travel, he discovered that meaningful connections are essential for personal and professional fulfillment. This insight encourages listeners to prioritize building relationships in their careers.

"your listener should go and find this because there there are interesting ways to label the other intersections the intersections that where they all four don't come together and and what's really int..."

47
1:21:28 - 1:22:49
1:21 duration283 words

Work-Life Balance and Sustainable Work Practices

Tom reflects on his work style and the importance of creating a balanced work environment. He contrasts his own late-night work habits with a colleague's more structured approach, emphasizing that sustainable work practices lead to better long-term contributions. This segment highlights the need for leaders to foster a culture that values work-life balance.

"things but a couple of thoughts about how one engages with their work one thing is I I'm I'm really not like a hashtag hustling kind of of leader I I there was a woman that I worked with on the finder..."

48
1:22:49 - 1:24:50
2:01 duration390 words

The Contrarian View on Foundership

Tom presents a contrarian perspective on the belief that everyone should be a founder. He argues that many talented individuals would be better off contributing to existing teams rather than starting their own companies. This segment challenges the conventional wisdom in the startup ecosystem and encourages listeners to consider alternative paths to success.

"every single morning at 8:30 sat at her desk wrote a ton of great software and every night packed her stuff up and left and she contributed more than I ever did and I don't think she got the same kind..."

49
1:24:50 - 1:30:10
5:20 duration1036 words

The Value of Collaboration Over Solo Ventures

In this concluding segment, Tom discusses the benefits of collaboration in achieving success. He reflects on his own experiences as a non-founder and the impact he has made by working with talented teams. This segment reinforces the idea that success can be achieved through teamwork and shared vision rather than individual entrepreneurship.

"don't know why these people like find success and then like start another company right away like why like you know there's so many things you could do in the world why would you start another company..."

50
1:30:07 - 1:30:50
0:42 duration124 words

The Value of Founders

Tom shares his respect for founders, acknowledging their unique contributions and the risks they take. He contrasts his own experiences in established companies with the challenges faced by those who start from scratch, emphasizing that while he may be seen as a founder, he does not share the same risks or responsibilities. This segment highlights the distinction between different roles in a startup environment.

"I'll take with that we've reached our very exciting lightning round are you ready I am ready what are two or three books that you've recommended most to other people I really love elad Gill's High grt..."

51
1:30:50 - 1:31:39
0:49 duration185 words

Book Recommendations for Leaders

Tom recommends Elad Gil's 'High Growth Handbook' as a must-read for leaders in young companies. He praises its actionable insights on building leadership teams and boards, making it a valuable resource for anyone looking to navigate the complexities of company growth. This segment provides practical advice for aspiring leaders in the tech industry.

"science fiction um and uh I mean there's like a lot of garbage science fiction out there to be sure but when you find something special it's like it's the best so probably Through The Years in that ca..."

52
1:31:39 - 1:32:44
1:04 duration172 words

The Allure of Science Fiction

In this segment, Tom discusses his love for complex science fiction, highlighting the classic 'Hyperion' by Dan Simmons. He reflects on the depth and intricacies of great sci-fi literature, suggesting that when done well, it can be incredibly rewarding. This conversation reveals Tom's passion for storytelling and its impact on creativity.

"only read the first one also three body problem is the only the other one that I always think about it's come up a couple times on this podcast let's move on to the next question do you have a favorit..."

53
1:32:44 - 1:33:46
1:01 duration197 words

Recent TV Show Favorites

Tom shares his thoughts on the new show 'Mrs. Davis' by Damon Lindelof, describing it as darkly funny and thought-provoking. He appreciates its concise storytelling and unique premise involving AI, showcasing his interest in innovative narratives in modern television. This segment highlights the intersection of technology and storytelling in contemporary media.

"that has a beginning middle and an end and doesn't need to ever have another episode it's amazing it's worth it's worth the you know get yourself a peacock subscription for at least a month to to to w..."

54
1:33:46 - 1:34:36
0:50 duration152 words

Interview Techniques for Better Insights

Tom discusses his approach to interviewing candidates, emphasizing the importance of asking questions that allow candidates to share relevant experiences. He believes in creating a collaborative atmosphere during interviews to better understand a candidate's potential contributions. This segment offers valuable insights into effective interviewing practices.

"permission to like or to set their expectation that I'm asking asking them to tell me about something they've actually done that is relevant to the topic that I'm I'm probing so that's a that's a just..."

55
1:34:36 - 1:35:31
0:55 duration192 words

Finding the Right Headphones

Tom shares his struggles with finding headphones that fit well, humorously recounting his experiences with various brands. He highlights a new product from Eartune that has finally allowed him to enjoy using AirPods comfortably. This light-hearted segment showcases Tom's personal preferences and the challenges of product design.

"the things where there's a natural reward mechanism because it's like well I had this great day I'm gonna do more of that tomorrow what was the thing um it's just pretty Illuminating is there your fav..."

56
1:35:31 - 1:36:32
1:01 duration174 words

The Importance of Details in Design

Tom reflects on a quote by Charles Eames, emphasizing that 'the details are not the details; they make the design.' He discusses the significance of nuance and attention to detail in product design, reinforcing the idea that great products are built on careful consideration of every aspect. This segment underscores the philosophy behind successful design.

"room but recently I came across this product uh from a company called ear tune that are these kind of their replacement tips and they just have like the littlest bit of like compression foam on them s..."

57
1:36:32 - 1:38:40
2:07 duration333 words

The Great GIF Debate

In a light-hearted discussion, Tom shares his experience working with the creator of the GIF format, Steve Wilhite, and the ongoing debate over its pronunciation. He humorously asserts that it should be pronounced 'GIF,' despite differing opinions. This segment adds a fun twist to the conversation, showcasing Tom's personality and engagement with tech culture.

"learning is you are mutant your ears are yeah are different yeah uh cool we'll link to that product in the show notes okay do you have a favorite life motto that you often come back to or share with f..."

58
1:38:40 - 1:39:34
0:54 duration181 words

Connecting with Tom Conrad

Tom invites listeners to connect with him on social media and encourages feedback on his current project, Zero. He expresses his openness to communication and collaboration, highlighting the importance of community in the tech industry. This segment wraps up the conversation, reinforcing Tom's approachable nature and commitment to engaging with others.

"great we're on the same page we've decided let it be known let it be known Tom we've talked about successes we've talked about failures mental health General Health all kinds of of awesome stories two..."