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Productivity News
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Bleak placement season for IIT graduates, salary packages offered below ₹10 lakh: Report
- The placement season for IIT graduates this year has taken a grim turn, with a significant portion of students facing salary packages below ₹10 lakh annually, as reported by Times of India.
- The global economic slowdown has contributed to reduced hiring by companies, leaving many graduates still in search of employment. Institutions like IIT Indore are adapting by expanding their network of potential employers.
- At IIT Delhi, a substantial number of graduates are utilizing career services for job opportunities, with a notable portion yet to secure employment. Despite challenges, a majority of undergraduate participants at IIT Delhi have received job offers, indicating varied impacts across courses.
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The Growth Catalyst
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Mastering the Product Interviews - Solving Estimation Questions
- In this article, author Deepak continues his series on Mastering the Product Interviews and focuses on solving estimation questions. He introduces the Fermi estimation technique which is based on estimating values using only orders of magnitude, a.k.a. powers of ten. He also highlights the importance of intelligent estimation skills in the job of a product manager as it helps in estimating effort, timelines, business impact, etc. He then goes on to cover the generally suggested approach or framework to solve estimation questions with an end-to-end example of the approach for estimating the number of YouTube videos watched in India in a single day. Lastly, he provides the top 10 handy numbers that you should have while solving guesstimates.
- The author also points out the mistakes that candidates usually make while solving estimation questions and provides a subjective questions database for further practice. He also mentions the companies that usually ask these estimation questions in their PM interviews - Google, Facebook, Amazon and startups. He discusses various types of estimation questions, such as volumetric, population, consumption and product, and how a different approach should be picked to solve each of them, which he will cover in the next week’s post.
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Minis
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Want to start a business but short on funds? Pitch your idea to this billionaire and get funding
- Billionaire Mark Cuban prefers email pitches for comprehensive feedback, having invested $100 million through this method in his "Win Big In Business" MasterClass.
- Despite Shark Tank fame, he believes email ensures he remembers details amidst his busy schedule. Cuban spends 3-4 hours daily reading emails, acknowledging the risk but noting its effectiveness. Additionally, he aims to integrate business correspondence into a language model akin to ChatGPT.
- This approach aligns with his tech-savvy investments, which began with MicroSolutions in 1990. Cuban's preference for email fosters accessibility and thorough consideration in his investment endeavors.
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Zerodha's Nikhil Kamath shares a life hack for struggling entrepreneurs
- Zerodha's co-founder Nikhil Kamath, drawing from his own journey from school dropout to billionaire, shares invaluable wisdom with budding entrepreneurs.
- At an event, he emphasized the insignificance of minor setbacks, urging individuals not to take life too seriously. "Hum sab marne waale hain," he reminds, advocating for a lighthearted approach to challenges.
- Kamath's recent launch of the WTFund underscores his commitment to empowering young visionaries. With a non-dilutive grant of Rs 20 Lakh and a robust support system, the fund aims to nurture under-25 entrepreneurs, providing them with the resources and community they need to thrive.
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Minis
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This startup is delivering Cannabis products to your doorsteps, hits 1000+ pre-orders on day 1
- Calmosis, a Bangalore-based wellness startup, is pioneering the legal cannabis market in India. Founded by Karan and Praveen, Calmosis offers 100% natural-organic cannabis extract/oil for medicinal use.
- Their flagship products, Peace Mantra and Sleep Mantra, approved by the AYUSH ministry, provide relief from stress, anxiety, migraines, and insomnia. With over 1000 pre-orders on their first day, Calmosis is meeting a significant demand for alternative wellness solutions.
- Moreover, they are expanding their product line to address period pain and provide CBD oils for calming dogs in noisy environments. Calmosis aims to revolutionize holistic healthcare in India.
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Minis
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Adopt this No. 1 mindset at every job interview to boost your chances of landing an offer, says career expert
- Adopting the mindset that every person you meet in a job interview is evaluating whether you'll make their job easier or harder can significantly boost your chances of success.
- This approach emphasizes focusing on how your skills and experience can directly contribute to addressing the employer's needs. By framing your responses around making the interviewer's job easier, you demonstrate your value proposition clearly.
- For example, if asked about immediate impact, emphasize initiatives that align with the employer's goals and how you can alleviate their workload. This mindset shift can help job seekers stand out and showcase their potential as valuable team members.
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Ex-McKinsey employee shares why he quit the Rs 1.7 crore pa job
- Former McKinsey & Company associate reveals the grueling reality behind his decision to resign from a lucrative Rs 1.7 crore per annum job.
- Citing an overwhelming workload and mental strain, he described working from early morning till late at night, neglecting basic needs and experiencing physical and mental deterioration.
- Lack of guidance, intimidating behavior from superiors, and a toxic work environment exacerbated his struggles, leading to a three-month mental health leave. Despite encountering challenges, he appreciated the high standards and camaraderie among colleagues.
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Lenny's Newsletter
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Lessons from 1,000+ YC startups: Pivoting, resilience, avoiding tar pit ideas, more | Dalton Caldwell (Y Combinator, Managing Director)
- Dalton Caldwell, the Managing Director and Group Partner at Y Combinator, shares learnings from his experience at YC in this podcast. Successful founders have an unwavering belief in their startup’s potential, even in the face of daunting obstacles. Beware of “tar pit ideas”, concepts that are initially well received but could lead to long-term challenges. Pivoting can be a successful strategy, and often entails drawing on founders’ prior experiences and insights gained from previous solutions. If there are still untapped ideas, persevering and trying them first is recommended.
- Investors may say no even if they like aspects of a startup, typically because they are waiting for opportunities that meet a higher bar. Founders should put themselves in investors’ shoes and consider which opportunities are most promising given their constraints. In terms of market size, investors give more consideration to the total addressable market (TAM) while founders should focus on the initial market. Over-delegating and hiring senior people too early are pitfalls to avoid.
- Startups should effectively communicate with customers and understand what makes them happy or unhappy. It’s important to hustle to talk to customers, particularly as startups often lack access to analytical tools and data. Successful startups typically secure a significant first client who signals to other clients that the startup is worthwhile working with.
- YC is seeking new enterprise resource planning software (ERPs), commercial open source companies, new space companies, a way to end cancer, spatial computing, new defense technology, bringing manufacturing back to America, better enterprise glue, small fine-tuned models as an alternative to giant generic ones. Dalton concludes by saying to always think for yourself, think critically, and experiment rapidly.
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The Beautiful Mess
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TBM 283: Just and But
- The words 'just' and 'but' are both seductive in different ways.
- While 'just' is biased towards action and simplicity, 'but' is biased towards questioning and exploration.
- Justers tend to move forward and converge, while butters bring up complexities and nuances.
- Both justers and butters are important in a team, but trust is crucial for them to work together effectively.
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Minis
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3 strategies for writing a resume that will ‘instantly impress’ any hiring manager, according to a recruiting expert
- Don't just list your job responsibilities – highlight your achievements and results: Emphasize clear, quantifiable achievements and results under each work experience. Use bullet points to showcase promotions, challenging assignments, revenue increases, cost reductions, or other data points that demonstrate your value.
- Mirror Job Description: Customize your resume to match the job description. Include key keywords and functions to make it irresistible to hiring managers.
- Emphasize Leadership and Management: Showcase experiences in leadership, team management, and people development to demonstrate your value and potential for future growth.
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The FishmanAF Newsletter
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How To Land A Pricing Change
- The push for improved unit economics has led to pricing changes across various startup and public companies. This newsletter article covers various monetization models and how they map to different company types.
- The monetization models that exist are transactions, subscriptions (consumer), subscriptions (B2B), usage-based, and advertising.
- Case Study 1: Alienate Your Customers, Erode Trust, and Make The Entire Internet Angry At You - What We Did Wrong at Patreon. The article discusses a Patreon pricing change gone wrong in December 2017 and the mistakes made in the solution, discovery, and communication aspects. Six mistakes were made in total that can be bucketed into three themes - mistakes with the solution, discovery, and communication.
- Case Study 2: Win Customer Support and Build Trust – What We Did Right at Patreon. To address predictability, scale, and differentiated needs associated with its pricing structure, Patreon conducted both qualitative and quantitative pricing discovery. With months of discovery behind them, they introduced a three-tiered pricing approach and won creator support by providing legacy pricing and offering downgrade alternatives.
- Four core lessons on how to soften the blow for existing customers with pricing changes include: create more than you capture, notify creators under your organization, provide a “downgrade” alternative, and offer legacy pricing or “founding creator” pricing.
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Lenny's Newsletter
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How to accelerate growth by focusing on the features you already have
- Growth from incremental and consistent optimization of the core product is important, says Lenny Rachitsky.
- Focusing on getting users to engage more with existing key features can lead to significant growth.
- The ARIA framework for increasing user adoption and engagement has four principles: Analyze, Reduce, Introduce, and Assist.
- Analyzing data to identify key features that are correlated to growth is the first step.
- Reducing friction through simplifying feature use, reducing steps, minimizing effort and cognitive load is the second principle.
- Raising awareness in context and motivating users to sue features is the third principle.
- Assisting users with tools such as templates and AI recommendations and results is the fourth principle.
- Prioritizing optimization of existing features over new feature design increases a product's utility and engagement.
- Ken Rudin shares his ARIA framework, which has been successfully applied to several Google products, and at ThoughtSpot.
- Product teams should use the framework as a cheat sheet to increase engagement with existing features in an ongoing process.
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Minis
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'70 hours of sleep…': Wakefit co-founder's clever twist to Narayana Murthy's productive work call earns internet praise
- Bengaluru-based startup Wakefit's co-founder, Chaitanya Ramalingegowda, sparked praise online with a unique twist on the 70-hour workweek debate. Instead of advocating for more work hours, he suggested 70 hours of sleep per week for maximum productivity.
- He emphasizes the need for every team member to contribute towards India's economic growth. The post has garnered over 1,200 reactions, with many applauding Wakefit's focus on sleep.
- Users appreciated the brand's approach to selling sleep rather than just products. Ramalingegowda's humorous yet impactful message has resonated well, prompting discussions on balancing productivity with employee well-being.
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Mamaearth's Ghazal Alagh asks herself this question before hiring an employee
- Mamaearth's co-founder, Ghazal Alagh, emphasizes the significance of astute hiring for business success. She advocates introspection before making hiring decisions, asking herself, "What are the 3 areas where this person is better than me?".
- This practice ensures the recruitment of valuable team members for long-term growth. Alagh also promotes a "First Principles thinking" approach for innovation, urging businesses to challenge industry assumptions and consider alternative perspectives.
- Her six tips for this approach include clarifying thinking, challenging assumptions, seeking evidence, considering alternatives, examining consequences, and questioning original questions.
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Minis
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'Dry Promotion': All about new job trend that is worrying employees
- A new job trend dubbed "dry promotion" is on the rise, where employees receive a title bump without a salary increase.
- Reports show over 13% of employers opt for this, up from 8% in 2018. This trend reflects the waning bargaining power of workers and is fueled by economic uncertainty and cost-cutting measures.
- Social media posts highlight employees' frustrations, with advice urging them to seek better opportunities elsewhere.
- Suggestions include negotiating for flexible schedules or extra benefits. As companies redistribute responsibilities without raising pay, employees face stagnant wages, prompting concerns about long-term financial viability.
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