Startups Weekly: Navigating the Product Manager Role

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The position of product manager is often one of the least clearly defined roles within a startup environment. As a company matures and its team expands, however, founders inevitably reach a point where dedicated roles must be established.

Defining the Product Manager

Ken Norton, formerly a director of product at Figma and now a consultant for aspiring PMs, emphasizes what the role isn't: that of the product's CEO.

“It’s crucial for product managers to understand that a significant portion of their work involves essential, yet often unglamorous tasks,” he stated. “This isn’t about leading as a CEO; it’s about completing the necessary work to move things forward.”

A comprehensive guide detailing the process and timing of hiring your first product manager has been created, expanding on these concepts. It highlights that a strong focus may be the most important quality to assess during interviews.

• How and when to hire your first product manager
• The importance of product analytics in freemium marketing – distinguishing between conversion and confusion
• Developing a handbook and leveraging AI for effective remote employee onboarding

The Significance of Early Hires

Securing talent remains a substantial challenge for startups. The individuals brought on board early can profoundly influence the company’s direction, culture, and ultimate success.

During TC Sessions: Justice, Precursor’s Sydney Thomas underscored the need for startups to make definitive decisions early on regarding the type of company they aspire to become.

This serves as a nuance to the prevalent idea that startups constantly pivot. The reality is more complex, and this point will likely be revisited in future newsletters.

News and Updates

Today’s newsletter also features updates on a promising edtech IPO, an exit involving Jay-Z, and the latest advancements in agricultural technology robotics.

Connect on Twitter @nmasc_ or via email at natasha.m@techcrunch.com.

Public Market Awareness Increases

The public markets have remained highly active this past week. A recent exclusive report indicated that Coursera is preparing for an initial public offering (IPO). This debut will provide valuable insight into how the financial performance of education companies has evolved, and been expedited, due to the pandemic's influence on remote educational practices.

Key Takeaways: Consistent with expectations, Coursera’s S-1 filing became available late Friday, offering an initial look at the financial data underpinning the company. The startup presented a narrative focused on a trajectory towards profitability, demonstrating revenue growth alongside increasing net losses. A detailed analysis can be found here.

Recent IPO Coverage

• Analyzing ThredUp’s IPO submission: Moderate growth coupled with a transforming business strategy.
• Initial assessment of AppLovin’s IPO filing.
• Oscar Health’s IPO priced at $39, achieving a $9.5 billion valuation.

The filing details Coursera’s financial position and future outlook.

Understanding these trends is crucial for investors.

The Synergy of Wealth: A Billionaire Partnership

Recent news has been dominated by Square’s acquisition of a controlling interest in Tidal. This pairing of a financial technology firm and a music streaming service may appear unconventional, but the music industry presents a significant, largely unexplored landscape ripe for innovation and disruption.

The financial details of the agreement were publicly disclosed by Square’s CEO, Jack Dorsey, via his Twitter platform. The transaction, valued at $297 million, also secured Jay-Z, the previous owner of Tidal, a position on Square’s board of directors. This development has sparked considerable discussion regarding the potential integration of musical NFTs.

The deal further solidifies Jay-Z’s reputation not merely as an artist, but as a highly successful and astute entrepreneur.

Recent Developments in the Tech and Music Space

• NFT Audio Exploration: 3Lau discussed his experiences with NFT-based audio content during an appearance on the Good Time Show, a podcast hosted by Sriram Krishnan and Aarthi Ramamurthy.
• Cappuccino: A new platform, Cappuccino, enables users to share concise, personal audio narratives with their close network of friends.
• Upcoming NFT Coverage: An upcoming episode of the Equity podcast will focus specifically on NFTs. Suggestions for potential interviewees can be sent via direct message.

The convergence of technology and music is creating exciting new possibilities for artists and consumers alike.

The Rise of Decentralized Insect Farming and Agtech Innovation

This week on Equity Wednesday, we featured Jonathan Shieber, TechCrunch’s climate tech editor, to discuss the current landscape of opportunities within the agricultural technology sector. The 20-minute discussion encompassed several key areas, including a $100 million investment in mealworm production, the development of farm-to-grill robotics, and the emerging concept of decentralized insect farming.

Further details regarding the $100 million mealworm funding round can be found here: https://techcrunch.com/2021/03/03/100-million-for-mealworms/

Key Takeaways: The agricultural industry has consistently sought robotic solutions to alleviate repetitive and demanding tasks. We explored two distinct companies and their strategies for providing robotic services to farms, ranging from software-as-a-service (SaaS) leasing models to direct robot sales.

Emerging Trends in Agtech

• Growing corporate sustainability programs could create new avenues for startups focused on carbon offsetting.
• The implementation of autonomous dust cropping represents a potential new service offering within the agtech robotics space.

The demand for efficiency and sustainability is driving innovation across the agricultural sector.

Robotics are playing an increasingly vital role in modern farming practices.

TechCrunch Updates

We extend our gratitude to everyone who participated in TC Sessions: Justice last week. It was a thoroughly enjoyable experience, and recognition is due to my colleague, Megan Rose Dickey, who served as the showrunner.

Our focus now shifts to TechCrunch Early Stage, an annual event dedicated to providing actionable guidance for new and first-time founders. This event aims to help them navigate the complexities of venture capital and the startup ecosystem.

The judges for the pitch-off competition have been announced, and we’ve secured commitments from leading venture capitalists. They will be sharing insights not typically found on social media – offering startup advice that goes beyond the limitations of short-form posts.

Consider this event the comprehensive training program you’ve always wanted. Secure your registration today.

This event is designed to equip founders with the knowledge and strategies needed to succeed. It provides a unique opportunity to learn directly from experienced investors.

The Early Stage event will cover a wide range of topics, from fundraising to product development. Attendees will gain valuable perspectives on building and scaling a successful startup.

Weekly Highlights

Featured on Extra Crunch

An analysis of investor valuation strategies for growth companies in 2021 is now available.

The complexities of the H-1B visa process and expedited E-3 processing are clarified in this week’s Dear Sophie column.

Eleven commonly used words and phrases that should be removed from your venture capital pitch deck have been identified.

A detailed examination of the $6.5 billion acquisition of Auth0 by Okta is presented.

Featured on TechCrunch

SoftBank has realized substantial profits by capitalizing on trends related to human convenience and automation.

Bond, the venture capital firm founded by Mary Meeker, has successfully closed its second fund, securing $2 billion in commitments.

The recent downturn in the technology sector is becoming increasingly significant.

Proposals from leading executives of Chinese technology companies, as presented at the annual parliamentary session, are examined.

Addressing the Increase in Anti-Asian Violence

This message serves as a platform to directly address the concerning surge in violence targeting individuals of Asian descent throughout the United States. Constructive dialogue regarding the cultivation of a more inclusive and anti-racist society is critically needed.

For genuine progress to occur, these conversations must be amplified and pursued through collaborative efforts. A commitment to inclusivity will profoundly shape our world, influence the development of new businesses, and determine our shared achievements.

Resources for Support and Education

Below are several resources offering opportunities to contribute financially, sign petitions, and expand your understanding of this important issue.

• Donation Opportunities: Support organizations dedicated to combating anti-Asian hate and providing assistance to affected communities.
• Petition Drives: Lend your voice to calls for justice and policy changes.
• Educational Materials: Access resources to deepen your knowledge and become a more informed ally.

The intention behind fostering inclusion will have a significant impact on the future we build together.

Sincerely,

N