176. Creating Powerful Networks, 3 Rules for Great Product, and the Future of Mobile Tech (SC Moatti)
SC Moatti of Mighty Capital joins Nick to discuss Creating Powerful Networks, 3 Rules for Great Product, and the Future of Mobile Tech. In this episode, we cover:Backstory/ Path to becoming involved in venture?
What led you to start Mighty Capital?
Talk more about Products that Count, what was the origin and why?
You successfully built a network of over 25,000 PM’s and continue to lead the network… How have you built such a large network?
We all have ever-expanding networks… do you have any guidelines or essential rules to maintaining, staying connected, and strengthening your existing network?
In your book, you share 3 rules to create successful products. Can you give us an overview of these rules?
You’ve developed products that billions of people use at Facebook, Nokia and Electronic Arts. Can you give us an example of a key product decision or change that you led?
Portfolio companies have said that Mighty Capital brings the “best value for the dollar invested.” How, specifically, are you creating value for your portcos?
How do you determine if a startup has reached product-market fit?
Let’s say, for example, you come across a product that, based on the metrics, has clear product-market fit, growth is accelerating and the team appears quite strong… but you have serious reservations about the product itself… maybe you question the design principles, the UX requires significant improvement, maybe it feels like it was designed by an engineer for an engineer instead of a customer… how do you approach a investment opportunity like this?
Part of your investment criteria is ‘Bay Area-based leadership’ Why do you only invest in companies based in the Bay Area?
Tell us more about your book… why’d you write it and what would you like readers to gain from reading it?
So, to go a bit deeper on mobile and mobile products? What are some new innovations or opportunities that you think will emerge in the coming years?
What current mobile trends do you think have a limited shelf life and will phase out?
What are the most concerning trends to you… whether they be related to mobile, entrepreneurship, product or investing?
Products That Count, a nonprofit community of over 25,000 Product Manager’s, has added enormous value for SC’s portfolio companies by giving them access to the product expertise and purchasing power of the community members.
Time management and engaging with contacts on a personal level has been most essential for SC to maintain her network.
SC’s 3 step process of joining, shaping and driving conversations through multiple outlets to successfully build a larger network.
Technology is an extension or ourselves, therefore SC poses the question of “What makes a good human being?” when determining products that are great.
SC’s 3 rules of the most successful products. The Body, products having efficiency and universality. The Spirit, products creating a personalized and meaningful experience. The Mind, technology that will learn and grow as we do.
SC’s book “Mobilized” shares examples and case studies on how to successfully use her 3 rules to build a great product.
The importance of shifting from a tech driven “wow factor” product to a user-generated content approach in order to keep people engaged.
Mighty Capital brings value to their portfolio companies by accelerating revenue through an understanding of go to market strategies and utilizing the Products That Count network to provide expertise.
SC determines a good product market fit when the beginning stages of a repeatable offering are present.
The approach of asking yourself “Am I the customer?” when evaluating companies that have good traction and a strong user base but a seemingly weak product.
SC predicts that the data sourcing and recognition abilities of today’s mobile technology will open the door for innovations and opportunities in the health and genomics space.
SC doesn’t see monetization in the VR and AR technology trends and predicts they are certain to phase out.
The emergence of “mega phones” and the need to constantly get bigger and more robust, SC views as an innovators dilemma that will cause disruption.