Scott Belsky - Focus on the First Mile – [Invest Like the Best, EP. 213]
My guest today is Scott Belsky. Scott was the co-founder and CEO of Behance, the world's largest creative network, and a prolific angel investor, having made early-stage investments in Pinterest, Uber, Carta, and Airtable. His company was acquired by Adobe in 2012, where he is currently the chief product officer. In this conversation, we cover the importance of focusing on the first mile of a customer's experience with your product, why every user is (at first) either lazy, vain or selfish, and what the rise of creativity tools means for creators and investors in the future. We also cover the major trends that Scott thinks will dominate for the next decade. This was one of those conversations where I was left with 10 great lessons that will stick with me for a long time. Please enjoy my conversation with Scott Belsky.
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
This episode is brought to you by Koyfin, one of the fastest-growing fintech startups. I discovered Koyfin earlier this year when I asked Twitter for the best Bloomberg alternative, and the overwhelming winner was an intriguing new product called Koyfin.
Koyfin has tons of high-quality data, powerful functionality, and a nice clean interface. If you’re an individual investor, research analyst, portfolio manager, or financial advisor, you should definitely check them out. Sign up for free at koyfin.com.
This episode is brought to you by Tegus. Tegus has built the most extensive primary information platform available for investors.
With Tegus, you can learn everything you’d want to know about a company in an on-demand digital platform. Investors share their expert calls, allowing others to instantly access more than 10,000 calls on Affirm, Teladoc, Roblox, or almost any company of interest. All you have to do is log in. Visit tegus.co/patrick to learn more.
Invest Like the Best is a property of Colossus Inc. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
[00:03:24 ] - [First question] - Philosophy for building great products
[00:04:52 ] - Starting the journey of building a great product
[00:06:08 ] - Making the first mile better
[00:08:12 ] - Understanding user progress in product building
[00:10:25 ] - Getting to awareness and attention and interest in a product
[00:12:41 ] - The concept of window dressing
[00:14:24 ] - Taking an idea and turning it into a high-value product
[00:16:49 ] - Keeping rewards structure in place for teams to stay engaged
[00:19:56 ] - Using his knowledge in product building to invest in other companies
[00:24:00 ] - The concept of object model
[00:25:52 ] - User psychology concepts they keep in mind when designing a product
[00:27:51 ] - Implementing all of these strategies into a product
[00:29:25 ] - The era of eduployment
[00:31:05 ] - How this will impact colleges
[00:33:27 ] - The evolution of the talent/audience relationship
[00:35:32 ] - Decentralization and the companies of 1
[00:37:44 ] - How that decentralization will impact his investment thesis
[00:39:21 ] - How increased productivity tools could help with more creativity in the workplace
[00:42:04 ] - Training people to be more creative in the workplace
[00:44:33 ] - Future of user interfaces
[00:48:10 ] - Good design principles
[00:49:51 ] - The future coming out of Covid
[00:52:09 ] - Kindest thing anyone has done for him