Lecture 6 - Growth (Alex Schultz)
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- Опубликовано: 8 окт 2014
- Lecture Transcript: tech.genius.com/Alex-schultz-l...
Alex Schultz gives an overview of Growth for startups, speaking from a position of authority as the VP of Growth at Facebook.
View the readings Alex refers to, his slide deck, at startupclass.samaltman.com/cou...
Discuss this lecture: startupclass.co/courses/how-t...
This video is under Creative Commons license: creativecommons.org/licenses/b...
Most of these fundamentals are still valuable in December 2023. Thank you for sharing!
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
this was first lecture above six i watched in one sit. great public speaker. very smart man.
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.
47 minutes feel like 4 minutes. When you forget time while watching something, it means this thing is good.
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 was a really good lecture on growth. Probably the best I've seen on the topic.
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!
"Growth is optional." what an awesome summation
Impressed by his lecture !
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 lecture is so valuable for anyone working at a start-up or even larger companies.
This was an excellent lecture. Through and through enjoyed it.
Awesome lecture. Probably the most exciting I've ever seen.
Excellent lecture ! Alex Schultz is a very good speaker ! Wow !
This is a great lecture most focused of all the lectures love it
Awesome. Best talk in this series.
Thank you Alex, Y combinator and Stanford for this phenomenal video. 👍
We've just applied some of the tips from this video to our directory.
This is my fav channel now :)
Really great lecture! Probably the best one I've heard. He's engaging, authentic and passionate!
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!
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.
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.
Thank you,Alex.
Excellent lecture!
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.
Thank you for these lessons, we really like them in Nicereply! :)
Best lesson so far!
EXCELLENT INSIGHT!
Awesome talk 🚀
Thanks! That is actual content even now in 2023
Great talk.
cest treis bein! M.Alex. Merci beaucoup.
Great video.
Thank you, that is valuable even today
"Growth is optional"
It's amazing
Very insightful
A north star-love the concept
It is F^*&*ly Cool this presentation. Love it.
Accurate logic for marginal users, excellent insight! Alex!
Great talk. Thanks.
i like him. good lecture.
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?
Love it!
finihsed this lecture, thx so much for sharing
the only person who said something worthwhile in this whole course. I guess the others are afraid to share their secrets. :)
Impressed
Awesome !!
Amazing lecture!
Thanks!
how do we find Brian Chesky's talk on User's Journey, please help!
invaluable!!!.
pure gold…
freaking awesome!!!!!😍
great lecture
his constant upward inflection got very annoying after a while though
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 anyone please elaborate on the retention graph at 4:48
I love this lecture so much! too bad i cant gind alex linkedin
What is the priority? Profitability or growth?
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?
what are the CIU and ACIU he is referring at 15:48?
I confuse I am the stupid one, I probably need to watch a few times to fully understand the context.
Are these lectures still relevent in 2024, or does anybody here has a better updated recomendation
What is ACIU and CIUs?
Which books he recommended?
Where can I get the written script of this course?
its in the description
5:59 that "growth hacker" eyeroll
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
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 "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.
Where is the daniel ferrante link
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!
7:00
17:54
Who else is watching this is 2024?
whai yo lagou bhlak en whaiit
This guy looks like the bald version of Gabe from Silicon Valley
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
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..
ghroth is ghareellya.
growth is optional indeed
Carnegie should have a warning ⚠️ tattooed on his forehead
Oh dick 😂
paper paper paper airplanes
Test
yall schkhinnee , yo beat the president of u.s.a. of 2023 tpgether .
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. =(
the tight shirt looks hideous on him
Lecture is good, but it's all about "facebook business". So many details, and so few general ideas. Don't like it.
good product is very important
good retention
domt hire growth hacer but focud on product makret fit
retention cirve need to flatten out no going down
idea product team exeution
if yiu dont haev graet prodict no poin to do grow hacing becaus eits wont grow
product market fit is really important
compare your atuff to real world sucess in those same verticals
single most important thing for growth is customer retention
And retention comes from
having a great idea, and
a great product to back up
that idea and great product market fit.
the whole company should be the growth team
leader point out to north star
eveeycompany have different vertical kr bariable to be seem or the choice to seen as something crotical
air bnb mafic momment was cool house to be display
facebokk first maguc moment is who you want to connect like friend face or gf face
So think about what the
magic moment is for your product, and
get people connected to it
as fast as possible.
think about those margin users who dont have friend and make them connect to someone
dont care about thise many notifications
by the way like building an
awesome product is
all about thinking about the
power user, right?
And we looked at new users,
resurrected users,
was getting them to those
ten friends, getting them to
Stanford
the whatever number of
triends they needed.
So think about the user on
the margin.
knowimg the north satr of your company the aim
and make everyone focud on taht and improvetaht
but still lot if thing end up being corelated
choose one you can getvstick the most
and Have a north star and know
the magic moment that when
a user experiences that,
they will deliver on that
metric for you on the north
star, and then think about
the marginal user, don't
think about yourself.
intrnationalization dont let copies outside mation while you focud inside ciuntry knocking down baruer from colege to another college and thne iurside andnthen country to enother country
help people who dontget friend on facebook tahts teh problem
marketers amd maeketing is important
gettingusers to magic mommet is very important and focus on problem like friend taht linely and need firmed in facenook dont stuck in analysis paralysis
facebook try to translate everything into largest languve amd keep it update woth theit technology
More tactics
• Virality
• SEO
• ESPN
• SEM
• Affiliates/referral programs
Payload. So how many people can you
hit with any given viral blast?
frequency How many times can you hit
them per blast is frequency.
convertion rate And what are they gonna
convert at?
paypal give 10 dollars for new singup
tahts creat high comvertiom rate
but not payload and not frequancy
payload os how many people yoi hit at once
frequancy os how you get email ads over m kver again
comvertion is when tehy convert ir just give them 10 dollars like oaypal
still retention over virality
contact import then send import then how many click or opm or whatwver then how many sign up thje how many import again
sign up , imort comtavt then send invite to all contact then to all comtact tehn percentage of clicik then prcentage of sign ip
make the k factor over one
seo figure it out
So, research consists of
what do people search for
that's related to your
sites, how many people
search for it, how many
other people are ranking for
it, and how valuable is it
for you.
Supply, demands and value.
Honestly the best is quite
often the Google AdWords,
for new facebook users list of liked post notifications is the magic mommemt but not for fhe old iser
creat great trigger marketing campaigne
make your email delivered , focus in notifications and. triggerbased email
A good plan, violently
executed today is
better than a perfect plan
tomorrow and
Thankyou it was helpful
Love from india
14:14