What do product managers actually do?

People are constantly talking about how AI is transforming engineers’ work, but where does that leave the product manager? On this week’s podcast, Paul (who has hired many PMs) and Rich (who is also a PM himself) tilt the AI-and-code lens away from the engineers and onto the role they describe as the diplomat of software creation, liaising between business, design, and engineering needs. Should PMs feel threatened by LLMs, or empowered by them? How can they use these tools to add value to the org and their role within it?