Be fundamentally different, not incrementally better | Jag Duggal (Nubank, Facebook, Google, Quantcast)

Nubank is bigger than Coinbase, Robinhood, Afirm, SoFi, and Lemonade combined. Eighty to ninety percent of Nubank's growth is through word of mouth. We're not trying to be incrementally better. We are trying to be fundamentally different. We want our customers to love us fanatically. It feels like NewBank is one of the historically most successful companies of launching new business lines. We built a lending product, we built an investments product, we built an insurance product, we built a series of small business products. We rarely scale a product. project until we know the Sean Ellis score hit a threshold that we find really compelling. I want to talk about strategy. Kevin Sistram in the early days of Instagram, I heard him say it at a conference. We may not be right, but at least we are clear. Even if your strategy isn't right, you have a very clear idea of what was supposed to be happening. Where do you think all of this goes in the future? Why not have the company that reinvents banking come out of Sao Paulo, Mexico City, Bogotá?

Today, my guest is Jack Dougal. Jack is chief product officer at New Bank, which is one of the most under the radar monster businesses that you'll ever come across. with a fanatical user base and a really unique approach to building product. Before New Bank Jack was director of product management at Facebook. leading monetization of video and third party content, including news, gaming and influencer content. Prior to Facebook, he was senior vice president of Product and Strategy at Quantcast, and group product manager and head of strategy for display ads at Google, which was Google's second largest business at the time.

In our conversation, we cover how to build products that people become fanatical about, how to develop a strategy. Category design, product line expansion, the future of fintech, and tons more. With that, I bring you Jack Dougal after a short word from our sponsors. And if you enjoy this podcast, don't forget to subscribe and follow it in your favorite podcasting app or YouTube. It's the best way to avoid missing future episodes.

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