
53 segments available
Thousands of new products launch each year, but very few last. Ryan Hoover has seen thousands of products launched over the course of his time running Product Hunt and through his investing, and in this episode you’ll hear what Ryan has learned about launching products, growing products, and raising capital. Plus, we play a made-up game called “What would you rather upvote?” Join us! Find the full transcript here: https://www.lennyspodcast.com/how-to-launch-and-grow-your-product-ryan-hoover-of-product-hunt-and-weekend-fund/#transcript — Thank you to our wonderful sponsors for making this episode possible: • RevenueCat: https://www.revenuecat.com/ • Flatfile: https://www.flatfile.com/lenny • Lenny’s Giveaway Bonanza: https://lennyspodcast.com/bonanza — Where to find Ryan Hoover: • Twitter: https://twitter.com/rrhoover • LinkedIn: https://www.linkedin.com/in/ryanrhoover/ • Website: https://www.ryanhoover.me/ — Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • Twitter: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ — In this episode, we cover: [00:00] Teaser [03:23] On being a tech celebrity [09:02] Using Twitter DM's as a content machine [11:15] The questions most founders ask [14:48] When should you start a company? [18:28] Would Ryan raise money for Product Hunt if he could do it again? [21:48] When should companies launch products? [24:52] What makes a launch successful versus not? [26:27] How to get to the top of Product Hunt [30:01] What skill is most helpful for moving into investing and venture capital? [31:39] What Ryan would do differently if he could re-build Product Hunt [38:57] What matters most in life [43:13] Which ideas Ryan would upvote [48:05] What founders of consumer companies do to succeed [55:33] Deciding to serve a niche or broad market [58:03] The surprising parts of angel investing [1:02:12] Advice for folks wanting to get into angel investing
Ryan Hoover discusses the anxiety and stress that come with being a CEO or founder. He emphasizes the need to project confidence to others while managing internal worries, highlighting the duality of leadership where transparency can be challenging.
"don't know how to articulate that feeling but that flutter in your stomach that you wake up with in the morning of just anxiety and stress and and worry being a ceo or founder makes it slightly harder..."
In this segment, Ryan Hoover introduces himself as the founder of Product Hunt and a full-time investor with the Weekend Fund. He shares his background as a product manager and his passion for writing, setting the stage for a deeper conversation about product launches and growth.
"transparent ryan hoover is the founder of product hunt which you already know he's also a former product manager which i did not know currently he's a full-time investor with his fund the weekend fund..."
Ryan and Lenny exchange compliments, showcasing the importance of positive feedback in professional relationships. This light-hearted moment underscores the value of appreciation in the tech community.
"twitter there you go yeah that's the clip we're done this episode is brought to you by revenue cap revenue cap makes it easy to build analyze and grow in-app subscriptions on ios android and the web t..."
This segment introduces RevenueCat, a platform that streamlines in-app subscription management for developers. It highlights the importance of focusing on growth rather than getting bogged down by technical complexities.
"provides a back-end and wrapper around apple store kit and google play billing to handle the implementation and upkeep of in-app purchases revenue cad is your source of truth for customer status acros..."
Ryan discusses the challenges B2B SaaS companies face with CSV imports and onboarding. He emphasizes how a seamless onboarding experience can significantly impact customer retention and satisfaction.
"in minutes cy companies like notion vsco and life360 use revenue cap to power in-app subscriptions learn more at revenuecat.com hey ashley head of marketing at flat file how many b2b sas companies wou..."
Ryan reflects on his recognition in the tech community and the challenges that come with being a public figure. He shares a humorous anecdote about being recognized at a social event, illustrating the pros and cons of tech celebrity.
"so if your csv importer doesn't work right which is super common considering customer files are chock full of unexpected data and formatting they'll leave i am zero percent surprised to hear that i've..."
In this segment, Ryan discusses the balance between being a public figure and maintaining personal privacy. He shares his experiences of feeling self-aware in social settings and the impact of public recognition on his behavior.
"totally it's incredible to see how our customers like square spotify and zora are able to grow their businesses on top of flat file it's because flawless data onboarding acts like a catalyst to get th..."
Ryan and Lenny bond over their shared introverted nature, discussing the social exhaustion that comes from networking events. They explore the dynamics of being an introvert in a highly public and social industry.
"a lot of traction in the tech tech sphere so yeah people in tech might recognize me people ask and attack doubt doubt they recognize me um i actually do wonder subconsciously if i grew my hair out to ..."
Ryan shares his experience of opening his Twitter DMs to founders seeking advice. He discusses the surprising authenticity and vulnerability of the questions he receives, revealing the challenges many founders face.
"it was probably early product on and i was at do you remember i don't know if you know this do you know a club um called dna lounge and they did something called booty every saturday it was like a mat..."
In this segment, Ryan reflects on the insights he's gained from answering founders' questions through DMs. He highlights the common struggles that many entrepreneurs face, emphasizing the chaotic reality behind the scenes.
"know it it definitely is makes you more aware of i'm already very like sometimes anxious and like self-aware person in terms of like my surroundings and so when you combine that with these strangers m..."
Ryan discusses the facade many founders maintain, projecting confidence while dealing with internal chaos. He values the authenticity of founders who share their vulnerabilities and challenges.
"new and you think i'm dealing with on a much smaller scale yeah yeah events are events are fun um we threw a bunch of them at product and uh yeah you do a lot of selfies and a lot of like handshakes a..."
Ryan explains how his DM interactions have evolved into a form of micro blogging on Twitter. He shares how answering questions helps refine his own thinking and provides value to a broader audience.
"was gonna ask you about that so yeah um along the same lines you're you're very public person you tweet a lot you share a lot you do a lot of podcasts and things like that what's something that people..."
Ryan reflects on the surprising vulnerability of founders who reach out for advice. He discusses the importance of creating a safe space for open dialogue about the challenges of entrepreneurship.
"i haven't been talking about it publicly primarily because i just didn't want to be lumped into oh another person moving to miami like i don't know i just there's no benefit or like reason for me to d..."
Ryan compares his approach to content creation with Lenny's newsletter format, emphasizing the value of curating insights from various experts. He discusses how this method leads to actionable advice and better content.
"someplace else and i love that um fortunately we have the flexibility when i say we my girlfriend susie and i to just carry our laptops and work anywhere so it's been it's been a nice lifestyle kind o..."
Lenny asks Ryan about the time commitment involved in creating quality content. Ryan shares his insights on the effort required to produce meaningful posts and the research that goes into them.
"of like that and so you know in terms of cost there's cost of living in terms of housing uh food taxes a bunch of things that go into the cost of living in the city and the city provides a lot of bene..."
Ryan Hoover discusses the effectiveness of his content format, which is based on answering questions from his audience. He emphasizes the importance of actionable advice and how curating insights from experts leads to better content. This segment highlights the value of a focused approach in content creation, showcasing how it can yield more useful and valuable results.
"awesome what's interesting about your format is as you were talking i kind of realized it's very similar to my newsletter format which i which i think is part of the reason it worked is it's based on ..."
Ryan Hoover shares his candid advice for aspiring founders, emphasizing the difficulty of starting a company. He suggests that individuals should only pursue entrepreneurship if they feel an undeniable urge to do so, as the journey is fraught with challenges and often leads to failure. This segment serves as a reality check for those considering launching a startup.
"so freaking hard they almost always fail it's always just like oh my god this is why am i doing this to myself my general advice to founders is like don't start a company unless you just like can't no..."
In this segment, Ryan reflects on the decision to raise money for Product Hunt, discussing the context and personal considerations that influenced his choice. He highlights the importance of understanding the motivations behind fundraising and how it can impact the trajectory of a startup. This insight is crucial for founders contemplating their funding strategies.
"what do you advise founders for when they're thinking about should i start a company should i not start a company which how should i approach this yeah i do i do spend time ironically like challenging..."
Ryan Hoover advocates for an experimental approach to launching products, suggesting that founders should focus on learning rather than solely aiming for success. He encourages a mindset of curiosity and exploration, which can lead to innovative ideas and valuable insights. This segment emphasizes the importance of viewing startup endeavors as experiments rather than definitive paths.
"won't it it'll probably fail before then as most startups do but i think it's a good litmus test for yourself to be like do i actually care about this enough and am i really stoked to work on this for..."
Ryan discusses the often-overlooked benefits of product launches, particularly in terms of team morale. He explains how celebrating a launch can foster a sense of accomplishment and excitement among team members. This segment highlights the emotional and motivational aspects of launching a product, which can significantly impact a team's dynamics and productivity.
"and then the third reason was it was like more friendly i don't know i didn't want to name it hoover capital or something like sterile wanted to be wait that's an awesome name hoover capital wow we we..."
Ryan Hoover elaborates on the complexities of fundraising, emphasizing the need for founders to align with investors who share their vision. He discusses the different expectations that come with various funding rounds and the importance of being aware of the commitments involved. This segment provides valuable insights for founders navigating the fundraising landscape.
"options i don't think today i could get further with my own i'm not super wealthy and i'm super illiquid but i have at least enough money where i could have funded you know maybe a year of development..."
In this segment, Ryan explores the significance of product launches for startups. He discusses various reasons for launching, including customer acquisition, recruitment, and feedback. Ryan emphasizes that while launches can serve multiple purposes, understanding the specific goals behind a launch is crucial for its success.
"you know what you're signing up for is super important what kind of treadmill you're you're getting on yes yeah because you can't get off i mean you can but it's not like a company i always say like w..."
Ryan Hoover shares insights on the importance of authentic communication during product launches. He advises founders to use language that resonates with their audience rather than relying on corporate jargon. This segment underscores the need for genuine messaging that reflects how users perceive the product, which can significantly influence a launch's effectiveness.
"like my perspective on stuff i i unfortunately always always like it kind of depends which is kind of like sounds like a cop-out answer so it's more my answers are usually more new lost and the thing ..."
Ryan Hoover discusses the significance of SEO as part of a product launch strategy. He emphasizes that having positive articles and a strong online presence can greatly influence the morale of the team and the overall success of a launch. This segment highlights how founders can leverage SEO to enhance their product's visibility and reception.
"thing but actually matters for a lot of people and then the other thing is seo so seo is like a part of your strategy having articles positive articles having a positive product at launch things like ..."
In this segment, Ryan Hoover shares insights on how founders often fall into the trap of using corporate jargon instead of authentic language. He stresses the importance of communicating in a way that resonates with users, suggesting that founders should describe their products as they would to friends. This approach fosters a more genuine connection with potential customers.
"what if founders miss with how they launch yeah i mean this goes back to college and the you know i won't go on my own rant about education but you know english class and writing class a lot of teache..."
Ryan Hoover outlines key strategies for launching products on Product Hunt successfully. He mentions the importance of a compelling tagline, concise communication, and engaging visuals. This segment provides actionable tips for founders looking to make a strong impression during their product launch.
"and then there's a lot of other things around like we should go more to the product and less about the launch like do you really understand who you're building for and do you understand how to communi..."
This segment focuses on the power of visuals in product presentations. Ryan Hoover explains how using a gallery effectively can capture users' attention and tell a compelling story about the product. He encourages founders to think creatively about how they showcase their products to engage potential users.
"has like this checklist so once you launch there's like a checklist of things recommendations or tips and i'm actually forgetting like what each of them are specifically right now but some of the thin..."
Ryan Hoover discusses the diverse range of products that can succeed on Product Hunt, from B2B to quirky consumer apps. He emphasizes the importance of understanding the interests of the early adopter community and how that can influence a product's success on the platform. This insight is crucial for founders aiming to tailor their launches effectively.
"awesome that was very tactical and helpful if you were to launch something on product hunt yourself and it wasn't like hunted by ryan hoover do you think you would get to the top yeah i mean i don't k..."
In this segment, Ryan Hoover reflects on how his background in product management has shaped his approach to investing. He highlights the importance of understanding product development and the thought processes of founders, which can significantly impact investment decisions. This perspective is valuable for aspiring investors in the startup ecosystem.
"sometimes it's also driven by like the almost like the zeitgeist like what do people find interesting right now like what's sparking people's interest because product on on one side you are potentiall..."
Ryan Hoover shares his reflections on what he would do differently if he could rebuild Product Hunt. He discusses the challenges of expanding into new categories and the importance of focusing on the core tech community. This segment provides insights into the strategic decisions that can shape a platform's success.
"yeah so my background is marketing and then product management pretty quickly i used to work in the gaming industry which is like i think an awesome industry really hard to make it in that industry bu..."
Ryan Hoover discusses the importance of generating revenue early in a startup's lifecycle. He reflects on his experience with Product Hunt and how earlier monetization could have provided more flexibility and control over the company's direction. This segment emphasizes the balance between growth and revenue generation for startups.
"that's right okay so uh leo of sousa ventures who's also an awesome dude uh yes if you could go back i saw leo in uh miami oh uh oh oh yeah he moved to miami too oh my god everyone's over there okay s..."
In this segment, Ryan Hoover addresses the common struggle of delegation among founders. He shares his personal challenges with trusting others to handle tasks and the importance of letting go to scale effectively. This discussion highlights the balance between maintaining quality and empowering a team.
"of these communities to discover all these different products and i think there was a lot of good ideas in that however i severely underestimated how difficult it would be to do two things one the pro..."
Ryan Hoover reflects on the painful lessons learned during his journey as a founder. He discusses the anxiety and stress that come with leadership and how these experiences have fostered empathy and resilience. This segment provides a candid look at the emotional challenges of building a startup.
"mattered most was growth and to grow the community but what i really should have done is dedicated maybe 10 of our focus on revenue generation because you know it was once we started generating revenu..."
Ryan Hoover shares the emotional challenges faced by founders, including anxiety and stress. He discusses the importance of maintaining a facade of confidence while dealing with internal struggles and the empathy gained from overcoming hardships in the startup journey. This segment highlights the reality of startup life and the personal growth that comes from navigating tough times.
"to put uh anyone else in in a pickle so someday maybe i'll publish this post but to speak more vaguely about it like there are some hard really hard times and product like you know we we have all face..."
In this segment, Ryan reflects on the lessons learned from his experiences as a founder. He emphasizes that while the challenges may leave scars, they ultimately contribute to personal strength and resilience. Ryan acknowledges the value of these experiences in shaping who he is today, reinforcing the idea that overcoming adversity is a crucial part of the entrepreneurial journey.
"plus other fabulous prizes including a one-hour coaching call with me a box of custom swag that i've just created that's full of really good stuff like an awesome water bottle a hat and socks and a fe..."
Ryan Hoover discusses the evolving priorities in his life and business, emphasizing the significance of authentic relationships over superficial connections. He reflects on the cliché that 'friends and authentic relationships matter most,' revealing how his perspective has shifted from seeking popularity to valuing deep, meaningful connections as he matures.
"worse maybe one last question from from twitter and twitterroddies from sundeep you just wanted to know what what have you found matters most to you or mattered most to you in life and in business ver..."
Ryan explains the critical role of momentum in the success of startups. He describes how high momentum can create a positive feedback loop, attracting resources and attention, while low momentum can lead to stagnation. This segment underscores the necessity for founders to cultivate and maintain momentum to drive their companies forward.
"side the thing i've been thinking about is like again i think this is obvious to a lot of people but i think there's some nuances to it which is momentum matters so much and momentum is reflexive in t..."
In this thought-provoking segment, Ryan discusses the nature of clichés and platitudes, suggesting that their repetition stems from their inherent truth. He shares a personal anecdote about a psychedelic experience that led him to a profound realization about love, illustrating how sometimes the simplest truths are the most impactful.
"course it's in an input to a lot of things but it's just so important to nail mark andreessen talks about that that last point that there's like a word for it that i forget that a company is either be..."
Ryan reflects on the potential of psychedelics as a tool for personal insight and growth. He discusses how they can serve as a gateway to deeper understanding and motivation, contrasting this with the long, arduous path of traditional meditation. This segment explores the intersection of personal development and unconventional methods.
"again and again uh i had a similar recognition when i was on a little psychedelic journey where i'm just like man love is all you need love is always happy man yes okay now i figured that out but i wa..."
In a fun and engaging segment, Ryan participates in a game where he chooses between two options, reflecting on his preferences in various contexts. This light-hearted interaction provides insight into his personality and preferences, while also serving as a playful break from the more serious discussions about startups and personal growth.
"yeah this is a good time to play a little game that i invented just for you okay so you're the founder of product hunt okay and on product hunt people upvote ideas that they like best and so what i'm ..."
Ryan Hoover discusses the difficulties faced by consumer startups, particularly in achieving scale and monetization. He highlights the competitive landscape and the need for founders to create internal triggers that encourage users to engage with their products. This segment provides valuable insights for entrepreneurs looking to navigate the complex world of consumer applications.
"no big asterisks it's all contextual sometimes like the audience you're building for really cares about dark mode like if you're really for developers maybe you need dark mode or some version of it bu..."
Hoover shares strategies for identifying startup ideas, including maintaining a problem journal and immersing oneself in niche communities. He stresses the importance of unique insights and understanding consumer behavior to build successful products.
"and and then i think a lot of it is um like b2b companies usually you have a clear like problem that you're solving and you can talk to customers you can understand what are their current behaviors wh..."
Ryan Hoover explains how observing shifts in consumer behavior and technology can lead to successful product ideas. He uses the rise of remote work as an example of a significant trend that has changed consumer needs and behaviors.
"awesome i hadn't heard that uh that problem journal idea i was going to ask you if you have any suggestions for how to come up with a startup idea and that's a really interesting one so i guess i'd be..."
Hoover discusses the efficiency of problem discovery in the startup ecosystem and the necessity of having a compelling reason for a new product's existence. He emphasizes the need for insights that explain why a product should exist now.
"the other is technology shifts so what what new thing can you build today that could be built yesterday and so there's there's a bunch of categories around there like web 3 a.i you know the biggest sh..."
Ryan Hoover advises startups to focus on a narrow target audience initially. He explains how this approach allows for better product development and marketing, ultimately leading to greater success as the company can expand later.
"that's a lot of what we think about especially on the investing side when we talk to founders wow there's way too much good advice there have you written this down anywhere is there a tweet thread peo..."
Hoover reflects on Airbnb's journey from a niche service to a major player in the housing market. He illustrates how companies can start small and expand their offerings over time, emphasizing the importance of adaptability.
"you know the story way better than i do but you know initially it was like just you know basically couches and extra rooms and houses and like a lot of people most people in the us would not do that l..."
Ryan Hoover shares insights from his experience in angel investing, including the importance of resilience in founders and the surprises that can arise in a startup's journey. He emphasizes the need to remain open-minded about a company's potential.
"wanted to touch on investing which i believe you do full time would you say that it's your full-time gig now yeah yeah it is yeah spending all my time there and yeah cool so from what i can tell the w..."
Hoover discusses his approach to evaluating startup founders and their ideas, highlighting the importance of understanding the product and the team behind it. He shares his philosophy on making founder bets and the challenges involved.
"uh it's it's fun to be able to kind of see behind the scenes a little bit how all these things kind of play out both the good and the bad that's such an inspiring takeaway does that change how you inv..."
Ryan Hoover offers practical advice for those interested in angel investing. He outlines various pathways to enter the field, including the flexibility of angel investing and the importance of having disposable income. This segment is packed with insights for aspiring investors, detailing the pros and cons of different investment strategies, including scout funds and special purpose vehicles (SPVs).
"the way i think about those consumer social founder first bets i love that last question along these lines for someone that's hoping to get into investing or angel investing in the near future do you ..."
In this segment, Ryan elaborates on different investment options available to new investors, including scout funds and SPVs. He explains the benefits and challenges of each approach, emphasizing the importance of understanding the commitment involved in raising funds versus making individual investments. This discussion provides valuable insights for anyone considering a career in venture capital or angel investing.
"make some money in 10 years it takes a long time they're scouting that's another opportunity they're more and more scout funds probably than ever before right now in different flavors some of them are..."
Ryan introduces a creative approach for aspiring investors who may not have capital to invest yet: creating a fantasy portfolio. He discusses how writing memos about companies of interest can help build analytical skills and demonstrate investment acumen. This segment encourages proactive engagement with the startup ecosystem, even before making actual investments.
"especially when i didn't and still don't have like a ton of money to angel invest so um so those are like different options like i think my blog post goes into more like pros and cons for each of thos..."
Ryan shares his thoughts on the future of his investment strategy and the size of his fund. He reflects on the benefits of maintaining a smaller fund size for collaborative investing and supporting founders. This segment provides insight into Ryan's long-term vision for his investment career and his desire to balance investing with building new ventures.
"idea i've seen people on twitter do that too what's where do you think this all goes for you are you thinking of increasing the fun that's basically the last question just yeah what's what's the futur..."
In this closing segment, Ryan discusses his passion for building and creating, beyond just investing. He expresses a desire to explore new ideas and projects while maintaining a focus on investing. This reflection highlights the duality of his career aspirations and the importance of creativity in both investing and entrepreneurship.
"future but i also love building building is is the most fun so creating something is whether it's a company i don't know i don't know what it is i'm not going to even call it a company but building so..."