First guy whose net worth is less than 100 million yet he easily has the best lecture, best content, and is clearly extremely smart and intelligent. LOVE THIS!
By far, the best lecture of the first six because Schultz (1) is a good public speaker so the ideas are clearly presented, (2) he is smart as hell, and (3) he is extremely passionate about what he does. Thank you!
What he said about Facebook and changing notifications depending on the activity of the user is something I would have never thought about doing, great idea.
An incredible wealth of information. All the kudos to Alex for delivering. Thank you so much. I will be watching this video on repeat for the next three years at least. All the best!
00:00 Retention is the single most important thing for growth. 04:50 Understanding retention rates is crucial for product growth. 09:21 Retention is key for successful businesses 14:02 Focus on gross merchandise volume and the magic moment to drive growth. 18:34 Focus on the magic moment and the marginal user for growth 22:49 Internationalization and focusing on the right languages drove Facebook's growth 27:18 Understanding virality is key to product growth 32:01 Virality is driven by high conversion rates and word of mouth. 00:02 Focus on retention, not just virality 40:49 Deliverability is key for email, SMS, and push notifications. 44:57 Focus on notifications and triggered marketing campaigns for better engagement.
6:10 "if you don't have a great product there's no point executing well on growing it because it won't grow" Focus on Product/Market fit before growing = Best startup advice ever.
There’s one thing I wanted to finish with, which is my favorite quote by General Patton. It’s so cliche; it’s crazy, but it’s awesome. “A good plan, violently executed today, is better than a perfect plan tomorrow.” And one other thing that Chamath instills in us and Mark still instills across the whole of Facebook is move fast and don’t be afraid to break stuff. If you can run more experiments than the next guy, if you can be hungry for growth, if you can fight and die for every extra user and you stay up late at night to get those extra users, to run those experiments, to get the data, and do it over and over and over again, you will grow faster. Mark has said he thinks we won because we wanted it more, and I really believe that. We just worked really hard. It’s not like we’re crazy smart, or we’ve all done these crazy things before. We just worked really really hard, and we executed fast. I strongly encourage you to do that. Growth is optional.
You should drive Magical Moments that get people hooked. For instance, after signing up, new users need to “hit” a magical moment that get them hooked on your service. At Facebook, the magical moment is seeing your friends. Schultz advises that you think about where that magical moment happens for users, and get them connected to that as quickly as possible after sign up. “People who are already using your product all the time are not the ones you have to worry about.” Pointed out Mr. Schultz.
Great lecture that talks about marketing strategy and lots of useful tactics. How to make the startup grow and grow? I think this one just point it out perfectly!
12:52 By the way, Benedict Evans has this Amazing breakdown of Amazons Business which is really interesting to look at their market place business vs direct business
1. Can I say that a high retention rate is the North Star metric for my company. 2. is high retention rate a result of me achieving my North Star metric?
Product market fit is when you're so busy delivering value to multiple clients that you don't know if you're going to be able to serve all of them and the line is getting longer. If you have product market fit, you'll know it. If you have to ask, you don't have it.
Hey! I didn't understand this either. Until a few days later I met with a customer struggling to write in our handwritten cards app (Felt Cards). Then that night our dog Jake woke me up at 1:30am (I promise this is for real), and I was wide awake thinking of the marginal user. It dawned on me. Our marginal users are people who don't use our app much. And our number one reason for not using Felt has been that handwriting on digital devices is hard. Our power users are people who have learned how to write on screens and do so, or they type their message. But they use Felt a lot. And our marginal users don't. For us, this was a moment of clarity. We had fought against changing the writing experience for two years. Thinking that it should remain "pure" and simple. But after accepting that most people are marginal users and we wanted them to use Felt we decided to take on the problem. We're about to release a sweet new way of writing on digital screens. We've shown it to about 10 customers and they all love it. A few even called it a game changer. So we're pumped. And that's what Marginal User means to us, right now. We're going to continue and define them as we continue and evolve.
I am 3 years late but typing this so that it helps other viewers CRU - Confirmed Registered Users ACRU - Activated Confirmed Registered Users There’s nothing such as ACIU and CIU. That’s just the translate not picking up the terms ACRU and CRU and calling them ACIU and CIU instead. Hope this helps.
As he points out, marketing becomes relevant in different ways at different points in the business. Initially, marketing shouldn't be a focus due to the need to build and iterate upon a product. Once you have a tested product, marketing plays a strong role in further understanding your market, and then successfully expanding into it.
Great lecture, but I'm wondering what happened to all these sentiments with Facebook over the years.. none of my friends actually use the site any more, they just go on there to post angry political shit because Alex and his buddies hyper-optimized for toxic engagement. The man's still there, I wonder what he'd have to say about how Facebook works today..
This is more of a talk about how to be a vp growth at a established company. not a talk on how to start a startup. There are no actionable tactics here, it's all high level stuff. =(
Most of these fundamentals are still valuable in December 2023. Thank you for sharing!
Why do you mention the december? won't it be valuable in december 24?
@@DEEPAK-cp7zdYes, Dec 2024 currently. Still valuable!
First guy whose net worth is less than 100 million yet he easily has the best lecture, best content, and is clearly extremely smart and intelligent. LOVE THIS!
You can only grow something once it exists
hh ,funny
Wrong, it's $313-$383 million
@@tanbir2358 I'm not. name your source
By far, the best lecture of the first six because Schultz (1) is a good public speaker so the ideas are clearly presented, (2) he is smart as hell, and (3) he is extremely passionate about what he does. Thank you!
Agree
also agree...
totally agree with this. his lectures are solid, strait to the point and constructive. very good public speaking skills.
This was a really good lecture on growth. Probably the best I've seen on the topic.
47 minutes feel like 4 minutes. When you forget time while watching something, it means this thing is good.
So much of knowledge and inspiration packed into a single video, by far the best of the series! Thanks Alex and the entire team!
this was first lecture above six i watched in one sit. great public speaker. very smart man.
What he said about Facebook and changing notifications depending on the activity of the user is something I would have never thought about doing, great idea.
An incredible wealth of information. All the kudos to Alex for delivering. Thank you so much. I will be watching this video on repeat for the next three years at least. All the best!
00:00 Retention is the single most important thing for growth.
04:50 Understanding retention rates is crucial for product growth.
09:21 Retention is key for successful businesses
14:02 Focus on gross merchandise volume and the magic moment to drive growth.
18:34 Focus on the magic moment and the marginal user for growth
22:49 Internationalization and focusing on the right languages drove Facebook's growth
27:18 Understanding virality is key to product growth
32:01 Virality is driven by high conversion rates and word of mouth.
00:02 Focus on retention, not just virality
40:49 Deliverability is key for email, SMS, and push notifications.
44:57 Focus on notifications and triggered marketing campaigns for better engagement.
This lecture is so valuable for anyone working at a start-up or even larger companies.
"Growth is optional." what an awesome summation
Excellent lecture about Growth. Clear and concise with great practical examples.
6:10 "if you don't have a great product there's no point executing well on growing it because it won't grow"
Focus on Product/Market fit before growing = Best startup advice ever.
Most valuable lesson so far in this series
This is GOLD even in 2024. Thankyou
This was an excellent lecture. Through and through enjoyed it.
Impressed by his lecture !
We've just applied some of the tips from this video to our directory.
This is my fav channel now :)
Awesome lecture. Probably the most exciting I've ever seen.
Thanks! That is actual content even now in 2023
There’s one thing I wanted to finish with, which is my favorite quote by General Patton. It’s so cliche; it’s crazy, but it’s awesome.
“A good plan, violently executed today, is better than a perfect plan tomorrow.”
And
one other thing that Chamath instills in us and Mark still instills
across the whole of Facebook is move fast and don’t be afraid to break
stuff. If you can run more experiments than the next guy, if you can be
hungry for growth, if you can fight and die for every extra user and you
stay up late at night to get those extra users, to run those
experiments, to get the data, and do it over and over and over again,
you will grow faster.
Mark
has said he thinks we won because we wanted it more, and I really
believe that. We just worked really hard. It’s not like we’re crazy
smart, or we’ve all done these crazy things before. We just worked
really really hard, and we executed fast. I strongly encourage you to do
that. Growth is optional.
You look like a delusional fucking joke.
Get therapy buddy.
You should drive Magical Moments that get people hooked. For instance, after signing up, new users need to “hit” a magical moment that get them hooked on your service. At Facebook, the magical moment is seeing your friends. Schultz advises that you think about where that magical moment happens for users, and get them connected to that as quickly as possible after sign up.
“People who are already using your product all the time are not the ones you have to worry about.” Pointed out Mr. Schultz.
Excellent lecture ! Alex Schultz is a very good speaker ! Wow !
Great lecture that talks about marketing strategy and lots of useful tactics. How to make the startup grow and grow? I think this one just point it out perfectly!
This is a great lecture most focused of all the lectures love it
Really great lecture! Probably the best one I've heard. He's engaging, authentic and passionate!
Who else is watching this is 2024?
me！
Me
2025😅
Haha me!
Thank you Alex, Y combinator and Stanford for this phenomenal video. 👍
"Growth is optional"
It's amazing
Awesome. Best talk in this series.
12:52 By the way, Benedict Evans has this Amazing breakdown of Amazons Business which is really interesting to look at their market place business vs direct business
This was a completely great lecture. I was thinking why don't we create a group of people to talk about marketing growing more often? Who joins us? :D
I would benefit tremendously if a group like that existed
Does it exist?
Thank you for these lessons, we really like them in Nicereply! :)
the only person who said something worthwhile in this whole course. I guess the others are afraid to share their secrets. :)
Virality 3 things: 1. Payload 2. Frequency 3. Conversion rate... how viral a product is
Can anyone please elaborate on the retention graph at 4:48
Last 1minute is all that inspires you
Thank you,Alex.
So far the best lecture uptill 9th one
AT 9th one rn
Awesome talk 🚀
1. Can I say that a high retention rate is the North Star metric for my company.
2. is high retention rate a result of me achieving my North Star metric?
A north star-love the concept
what is "product market fit" ?
Product market fit is when you're so busy delivering value to multiple clients that you don't know if you're going to be able to serve all of them and the line is getting longer. If you have product market fit, you'll know it. If you have to ask, you don't have it.
what are the CIU and ACIU he is referring at 15:48?
at 46:34 what does he say "Move fast and don’t be afraid to break stuff ethos" --> what's the word after "stuff" is it "ethos"?
Yeah, it sounds like he says "ethos" to me
Yes
Can someone explain to me what he means by think about the marginal users, and not yourself? I wasn't sure he explained it. Thanks in advance!
Hey! I didn't understand this either. Until a few days later I met with a customer struggling to write in our handwritten cards app (Felt Cards). Then that night our dog Jake woke me up at 1:30am (I promise this is for real), and I was wide awake thinking of the marginal user. It dawned on me. Our marginal users are people who don't use our app much. And our number one reason for not using Felt has been that handwriting on digital devices is hard. Our power users are people who have learned how to write on screens and do so, or they type their message. But they use Felt a lot. And our marginal users don't.
For us, this was a moment of clarity. We had fought against changing the writing experience for two years. Thinking that it should remain "pure" and simple. But after accepting that most people are marginal users and we wanted them to use Felt we decided to take on the problem.
We're about to release a sweet new way of writing on digital screens. We've shown it to about 10 customers and they all love it. A few even called it a game changer.
So we're pumped. And that's what Marginal User means to us, right now. We're going to continue and define them as we continue and evolve.
What is ACIU and CIUs?
how do we find Brian Chesky's talk on User's Journey, please help!
Accurate logic for marginal users, excellent insight! Alex!
Excellent lecture!
EXCELLENT INSIGHT!
great lecture
his constant upward inflection got very annoying after a while though
Thank you, that is valuable even today
Are these lectures still relevent in 2024, or does anybody here has a better updated recomendation
What is the priority? Profitability or growth?
Very insightful
Loved this one. Probably the most valuable yet. Maybe because it’s where I am in my journey with Wootzoo.
can anyone explain meaning of cius and acius.
Best lesson so far!
Great talk.
cest treis bein! M.Alex. Merci beaucoup.
Can anyone tell me what ACRU, ACIU, CIU, CRU stands for?
I am 3 years late but typing this so that it helps other viewers
CRU - Confirmed Registered Users
ACRU - Activated Confirmed Registered Users
There’s nothing such as ACIU and CIU. That’s just the translate not picking up the terms ACRU and CRU and calling them ACIU and CIU instead.
Hope this helps.
@@Moleshrivastava And 2 years later your comment is still helping. Thanks!
Where can I get the written script of this course?
its in the description
So I have heard in a few lectures in this course, that marketing does not matter a lot. Now I hear, that marketing is very important.
As he points out, marketing becomes relevant in different ways at different points in the business. Initially, marketing shouldn't be a focus due to the need to build and iterate upon a product. Once you have a tested product, marketing plays a strong role in further understanding your market, and then successfully expanding into it.
Market is strategy. You need market for product market fit.
Marketing itself is different
Where is the daniel ferrante link
Great video.
finihsed this lecture, thx so much for sharing
Impressed
i like him. good lecture.
Which books he recommended?
It is F^*&*ly Cool this presentation. Love it.
21:00 have a north star and know the moment up to 22:30
Watching from 202k for my Economic history collage project
Great talk. Thanks.
13:15 Northstar and defining it
Love it!
5:59 that "growth hacker" eyeroll
I love this lecture so much! too bad i cant gind alex linkedin
I confuse I am the stupid one, I probably need to watch a few times to fully understand the context.
pure gold…
excelent!
freaking awesome!!!!!😍
Awesome !!
7:00
Thanks!
invaluable!!!.
Retention amd then virality
Great lecture, but I'm wondering what happened to all these sentiments with Facebook over the years.. none of my friends actually use the site any more, they just go on there to post angry political shit because Alex and his buddies hyper-optimized for toxic engagement. The man's still there, I wonder what he'd have to say about how Facebook works today..
14:14
will someone join me in my startup
11:00 growth when and who does it
Who is he referring to? - "Uber has the best viral guy in the world".
I would guess Andrew Chen, who is a very talented growth executive at Uber, but not sure.
Ed Baker
ghroth is ghareellya.
Lewis Timothy Johnson Kenneth Thompson Matthew
This is more of a talk about how to be a vp growth at a established company. not a talk on how to start a startup. There are no actionable tactics here, it's all high level stuff. =(
This guy looks like the bald version of Gabe from Silicon Valley
Lecture is good, but it's all about "facebook business". So many details, and so few general ideas. Don't like it.
growth is optional indeed
whai yo lagou bhlak en whaiit
Test