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Building product at Stripe: craft, metrics, and customer obsession | Jeff Weinstein (Product lead)

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Jul 11, 2024

Guest

Jeff Weinstein

Jeff Weinstein, a product lead at Stripe, shares insights from his wealth of experience in creating user-centric products. He dives into the power of customer obsession in product development and how to effectively choose metrics that drive impact. Jeff discusses the innovative Study Group he initiated to enhance product craft, and the remarkable story behind Stripe Atlas, which simplifies startup creation globally. He emphasizes the balance between data and genuine customer feedback in fostering successful products, highlighting the importance of understanding real user needs.

02:35:00

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Episode notes

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ADVICE

Meaningful Metrics

Choose metrics that reflect customer value from their perspective.
Use metrics to drive decisions, prioritize trade-offs, and measure progress effectively.

question_answer

ANECDOTE

Atlas Metric

Jeff Weinstein improved Stripe Atlas by focusing on reducing support tickets.
Tracking "companies with zero support tickets" led to significant product improvements and market share growth.

volunteer_activism

ADVICE

Avoiding Perverse Incentives

While optimizing for a single metric, set tactical metrics to avoid perverse incentives. Use cohort metrics and optimize for trends, not just averages.

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Embracing Challenges: A Unique Approach to Learning and Product Thinking

02:40 • 4min

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Crafting User-Centric Products Through Metrics and Insights

06:31 • 3min

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Navigating the Shift: From Liberal Arts to Tech

09:05 • 7min

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Crafting Products with Purpose

15:40 • 29min

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Measuring Success: Metrics for Customer-Centric Product Development

44:57 • 23min

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The Crucial Role of Clean Metrics in Product Development

01:08:18 • 5min

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Enhancing User Experience through Study Groups

01:13:05 • 24min

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Simplifying Startup Success with Atlas

01:37:01 • 12min

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Transformative Technology in Startups

01:48:57 • 21min

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Collaboration Amidst Competition

02:10:19 • 10min

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Empowering Insights from Influential Literature

02:20:10 • 9min

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Embracing Creativity and Effective Problem-Solving

02:29:11 • 6min

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Jeff Weinstein is a product lead at Stripe, where he helped grow their payment APIs to hundreds of billions in volume and transformed the way founders start companies into a few simple clicks with Atlas. Prior to Stripe, Jeff led several startups and sold companies to Groupon and Box. He’s known for his customer obsession, craft, quality, and building beloved products businesses rely on. In our conversation, we discuss:

• The power of customer obsession and how to operationalize it in the product development process

• How to pick the right metrics and use them to drive impact

• Techniques for getting things done at big companies

• A group practice Jeff started to uplevel product craft, called Study Group

• The story behind Stripe Atlas and its mission to increase entrepreneurship globally

• Lessons from working with the founders of Stripe

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Brought to you by:

• Pendo—The only all-in-one product experience platform for any type of application

• Cycle—Your feedback hub, on autopilot

• Anvil—The fastest way to build software for documents

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Find the transcript at: https://www.lennysnewsletter.com/p/creating-a-culture-of-excellence

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Where to find Jeff Weinstein:

• X: https://x.com/jeff_weinstein

• LinkedIn: https://www.linkedin.com/in/jeffwweinstein/

• Email: jweinstein@gmail.com

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Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• X: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Jeff’s background

(10:16) The “go, go, go ASAP + optimistic, long-term compounding” approach

(15:38) The importance of craft and quality

(24:15) Effective customer communication strategies

(28:57) The importance of speed in customer interactions

(33:19) Narrowing your focus

(36:53) Why you should pay attention only to paying-customer feedback

(40:24) Practicing silence when communicating

(45:33) The role of metrics in product success

(54:08) Empowering teams with a single metric

(58:23) Picking the right metric for your audience

(01:05:10) The importance of metric hygiene

(01:11:33) How Stripe uses “study groups” for product improvement

(01:37:20) Stripe’s Atlas: simplifying company formation

(01:50:38) Automation and operational efficiency

(01:55:13) Diversity and team building

(02:03:09) Building new products within a large company

(02:21:10) Lightning round

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Referenced:

• Atlas: https://stripe.com/atlas

• Stripe: https://stripe.com/

• SQL: https://en.wikipedia.org/wiki/SQL

• GitHub: https://github.com/

• Linear: https://linear.app/

• Figma: https://www.figma.com/

• Jeff’s tweet about Stripe’s bug-finder program: https://x.com/jeff_weinstein/status/1777487507934040300

• The “Collison installation”: https://news.ycombinator.com/item?id=18400504

• How we use friction logs to improve products at Stripe: https://dev.to/stripe/how-we-use-friction-logs-to-improve-products-at-stripe-i6p

• Fidelity: https://www.fidelity.com/

• 83(b) election: https://docs.stripe.com/atlas/83b-election

• Jeff’s tweet about Atlas’s NPS score: https://x.com/jeff_weinstein/status/1788644576330469638

• What is a Delaware corporation? Here’s what makes this state so attractive to businesses: https://stripe.com/resources/more/what-is-a-delaware-corporation

• Incorporating in Delaware explained: Why it’s such a popular option for businesses: https://stripe.com/resources/more/incorporating-in-delaware-explained

• 7 of Pixar’s Best Storyboard Examples and the Stories Behind Them: https://boords.com/blog/7-of-pixars-best-storyboard-examples-and-the-stories-behind-them

• Alex Kehayias on LinkedIn: https://www.linkedin.com/in/alexkehayias/

• Patrick McKenzie on LinkedIn: https://www.linkedin.com/in/patrickmckenzie/

• AngelList: https://www.angellist.com/

• Dan Hightower on LinkedIn: https://www.linkedin.com/in/danhighto/

• Stripe Atlas perks partners: https://support.stripe.com/questions/stripe-atlas-perks-partners

• Vision, conviction, and hype: How to build 0 to 1 inside a company | Mihika Kapoor (Product at Figma): https://www.lennysnewsletter.com/p/vision-conviction-hype-mihika-kapoor

• High Output Management: https://www.amazon.com/High-Output-Management-Andrew-Grove/dp/0679762884

• Orbiting the Giant Hairball: A Corporate Fool’s Guide to Surviving with Grace: https://www.amazon.com/Orbiting-Giant-Hairball-Corporate-Surviving/dp/0670879835

• 7 Powers: The Foundations of Business Strategy: https://www.amazon.com/7-Powers-Foundations-Business-Strategy/dp/0998116319

• Business strategy with Hamilton Helmer (author of 7 Powers): https://www.lennysnewsletter.com/p/business-strategy-with-hamilton-helmer

• Box: https://www.box.com/

• Patrick Collison on X: https://x.com/patrickc

• How to with John Wilson on HBO: https://www.hbo.com/how-to-with-john-wilson

• The Quiet Girl on Hulu: https://www.hulu.com/movie/the-quiet-girl-b50a4b8e-d3ff-4635-b806-5e7dbd292ca4

• Raycast: https://www.raycast.com/

• Quicksilver: https://qsapp.com/

• Alfred: https://www.alfredapp.com/help/workflows/automations/

• CleanShot: https://cleanshot.com/

• John Collison on X: https://x.com/collision

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.lennysnewsletter.com/subscribe

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