As product managers, it's our job to stay on top of the latest and greatest trends in technology, society, and regulations. After all, change is the only constant, right? And when it comes to change, there are plenty of opportunities to launch new products that address user needs in creative and innovative ways.
Take Cash App, for example. When they decided to jump on the Bitcoin bandwagon, they saw a huge boost in revenue - almost 76% of their 2020 earnings (a whopping $4.6 billion) came from Bitcoin. And let's not forget about Uber, which wouldn't have been possible without the proliferation of GPS-equipped smartphones and Google Maps APIs. And who could forget Clubhouse, which became the hot new social media platform thanks to the pandemic's acceleration of the need for virtual public discourse?
But how do we stay on top of these trends, you ask? One way is to pay attention to major tech company developer conferences and read commentary from industry analysts. You can also follow tech founders and investors on social media (like the always-insightful Naval Ravikant and Elad Gil) and pay attention to the trends they're excited about. And let's not forget the wise words of Paul Graham: "Live in the future, then build what's missing." By keeping an open mind and looking for opportunities to pursue, you'll be well on your way to developing your product sense.
Another way to stay ahead of the game is to understand micro changes that may unlock new possibilities. To do this, it's helpful to meet with domain experts and engineers and go deep on topics like new APIs or platform capabilities. By living in the future and understanding what's missing, you'll be better equipped to develop your product sense and come up with innovative solutions.
So there you have it - a few tips for staying on top of technology trends and developing your product sense. Remember to keep an eye on emerging trends, follow tech founders and investors, and go deep on micro changes in your domain. With a little bit of curiosity and effort, you'll be well on your way to creating products that people will love! And hey, who knows - maybe you'll be the next Cash App or Uber. Just remember to thank us when you're a billionaire.