Instagram is no longer about photo sharing

Instagram is morphing into TikTok.

Specifically, Mosseri said Instagram has plans to show users full-screen videos in their feeds. This includes videos it recommends to users, including those from accounts they do not already follow. Users will start to see Instagram’s experiments with these changes over the coming months, he said.

“We’re no longer a photo-sharing app or a square photo-sharing app,” Mosseri said.

This probably creates room for a place to do photo sharing only. If Instagram doubles down on the format, then the photography experience will be affected. Adobe perhaps. The Lightroom Mobile app added a “Discover” tab not too long back.

#lastweek — Crypto, Apple and Payments

Top reads and insights from the week on crypto, WWDC and payments.


I have been reading a lot about crypto over the last few months. I regret not having an interest earlier. And, it has nothing to do with Bitcoin, but the fundamental technology and philosophy of crypto. (Of course, I could have potentially made some money had I built any awareness earlier.) I am at a 0.1% level of crypto understanding now. Trying to get better by reading and writing about it. Here’s a small start.

Regulations Coming

The road to formalising crypto is getting started. El Salvador adopted Bitcoin as legal tender. And regulators are starting to put a framework in place.

The Basel Committee on Banking Supervision, which consists of regulators from the world’s leading financial centres, is proposing a “new conservative prudential treatment” for crypto-assets that would force banks to put aside enough capital to cover 100% of potential losses.

Yes, this is extreme risk aversion. Any adoption of a fundamental shift happens slowly.

The India Connection

I still have a lot to learn about Polygon. But this is surely exciting.

So, what is Polygon? Polygon (formerly known as MATIC) is an Indian blockchain scalability platform called ‘the Ethereum’s Internet of Blockchains’. It is the answer to some of the challenges faced by Ethereum today – such as heavy fees, poor user experience and low transactions per second (TPS). And it aims to create a multi-chain ecosystem of ethereum compatible blockchains.

Recommended Reading

Apple — WWDC and the Creator Economy


Of all the announcements, Universal Control was one of the most exciting. One can control up to 3 devices (Macs and iPads) with the same keyboard and mouse. My interest is personal. This is a need I often feel working on my 15″ MacBook Pro (with its broken screen), a MacBook Air M1 and iPad Pro.

The technology behind it though is simple. Just read this Verge article.

It turns out that the entire system is actually simpler than it first appears. It’s essentially a new way to use a bunch of technologies Apple had already developed. That’s not a knock on Universal Control — sometimes the best software features are a result of clever thinking instead of brute force technological improvements.

The key insight here though is how different technologies developed independently to solve different problems come together to solve an entirely new problem. This is something that’s easy to overlook when building new products and features. Technology is often additive. And the sum can be greater than the parts. This is why it is important to think about how (1) something is immediately useful for customers and (2) how it becomes infrastructure for the future.

The Creator Economy

There are a few different threads emerging here. First, how the privacy focus can have an indirect positive effect on creators as more and more marketers start thinking about influencer marketing.

According to Influencer Marketing Hub, the industry grew from $1.7 billion in 2016 to a projected $13.8 billion in 2021. The Covid-19 pandemic and a massive increase in online shopping were major factors. In a May 2021 report on what it dubbed the “Creator Economy,” the Economist said that a new “creator middle class” is rapidly emerging, fuelled by increasing competition for content and a shift towards subscription models.

Marketplace for matching influencers and marketers anyone? While these second and third order effects can pan out positively, it may largely limit the gains to a relatively small population.

While privacy is good, it does affect the small guys more. A lot has been written on these.

  1. Cost of regulation (like GDPR) affects a Google or a Facebook much less than a small startup.
  2. A blanket ban on third-party tracking only concentrates advertising business within ecosystems like Facebook and Amazon.
  3. And some of this introduces business model barriers. Like the potential impact on advertising driven free content.

With the change to email tracking, Apple is killing off one of the few ways email senders actually had to understand their audience in one fell swoop–that simple tracking allowed many newsletters to monetise their work instead of charging subscription fees. The irony, of course, is if those newsletter creators were to build a free app, they would be allowed to track whatever users do within it.

And then there is this. Apple’s unbound greed. They will eventually pull back on this — whether based on common sense or by regulatory action remains to be seen. But this is not good optics. And it is not good for creators.



BNPL services are growing the world over. Including India. (It’s a small part of what I am working on as well.) There are challenges here that go beyond the finance or tech part of fintech. It’s also about doing what is right. A lot of BNPL customers are just that because they don’t have the financial means. It’s important to help them avoid the debt trap.

The crux of the case’s argument is that Afterpay’s marketing as interest / fee-free is deceptive, as it can cause users to incur insufficient funds (NSF) and overdraft fees, if a repayment is attempted when a user’s balance is too low to cover the charge.

This is where universal customer profile can help. Something that includes their credit behaviour across non-traditional credit sources. Fintechs can build their credit models on top of this data. And the data can be anonymised from a creditor’s perspective so no one knows anyone’s loan book.

Lack of visibility across BNPL providers poses a particular challenge in ensuring responsible underwriting and usage. There’s nothing to stop users from leveraging multiple BNPL providers concurrently, potentially overextending themselves — a problem that also exists in the payday market.

Fintech Network

Interesting argument here. The network is available everywhere.

If anyone is interested or motivated today, whether in Burkina Faso or Vanuatu, they can get on the network. More importantly, once on the network, they can communicate and transact. It is this latter point that gets interesting.

Photo of the Week

Sunrise in Munnar, Kerala from the Kolukkumalai peak

Sunrise in Munnar, Kerala from the Kolukkumalai peak. Woke up at 4am for what was the most backside jarring ride on a 4×4 ever. (And you can’t even imagine.) Very worth it.

Is “Incompleteness Anxiety” a Real Thing?

A Google search didn’t reveal the existence of any such model. So, I will assume (till proven wrong), I coined this term 🙂

So, what is it?

Incompleteness Anxiety” is anxiety arising out of an urge to complete a task that doesn’t need to be completed.

The most prominent examples of this can be found in dealing with emails, messages and RSS feeds. There might be other examples as well.

Let me take the example of email to explain this:

  1. In email, an unread email is an “incomplete” state. Almost all email clients highlight unread emails inviting an action.
  2. However, most emails don’t need to be read. But if you leave it unread, the next time you return you don’t remember if you already saw it.
  3. This gives rise to anxiety to mark emails as read or to move them away and reach a “complete” state.
  4. I realised this after using HEY for a few days. In the Feed and Paper Trail, HEY doesn’t indicate any unread email differently from a read email. There’s just a line indicating “new since you last visited”. If I go back, without acting on any of the “new” emails and return, there’s no special treatment for the “unread” emails that I didn’t open.
  5. This takes away the anxiety of using email.

Is this a real thing? Does this make sense? Maybe it is just me.

Note: This is different from FOMO. There’s no fear of missing out on most emails. We don’t open an Amazon confirmation email to see what’s in it, but to complete the “task” of marking the mail as read.

Hiring Product Managers

At Cleartrip I was involved in hiring more than 80% of all PMs who’ve worked there in the last 4-5 years. Along the way, I developed some personal heuristics on what to look for to predict success in the PM role. This is my personal approach. And this, of course, varies depending on how the PM role is defined within an organisation.

Personally I think PMs should be responsible for an entire “flow”. As they grow, the number of such “flows” in their portfolio will also grow. Without this approach, there isn’t an end-to-end view of the customer. Which inevitably will lead to worse solutions. This means the way you evaluate a candidate also needs to adapt to this goal. So, here are the parameters that I evaluate when hiring PMs.

Knows what they have done and why. This is what I focus on in the first interaction. CVs are a good elimination tool, but almost always inflated. So, the idea is to go deep into what the candidate has done in their career and understand if they know the why. It is surprising how many with very strong CVs fall at this stage.

Comfort with data. Comfort with data is super important. Analyzing metric changes and having an intuition on the right metrics to track is critical for PMs. It is important to breakdown the problem before diving into what the problems might be. For example, I could ask — “conversion for the hotel funnel is down by 10%, what went wrong”. I am not really looking for what went wrong, but the journey she takes.

Product thinking. After data, is an evaluation of product thinking. This will typically involve discussing a product that is live or being built or something that we have been thinking about. What I am looking for is the ability to think about user problems, jobs to do for users and constraints. What gets built is the last thing I want to discuss.

Spikes and new learnings. This is a bit subjective. Here I am looking for things that we may not have thought about internally or something that is difficult for someone from a different domain to know. You will know when you spot this. This is strictly not a necessary factor. But helps with making the final decision.

Ability to work with others. There’s no PM who works alone. How do they deal with conflicts with engineering and design teams? How good is the quality of requirements they produce? Without good requirements, engineering and design teams will end up working with ambiguity. And that’s not good. I will typically ask the candidate to structure a requirement document to evaluate this.

Complement yourself. No individual is good at everything. But the team should be. Look out for skills where the candidate can add value where it is currently missing. This could be anything from marketing skills, design chops to experience working with customer support. It’s unique to every team. Decide accordingly.

This is a framework I follow. I may end up overindexing on one of these depending on the role I am hiring for and the candidates’ past experience.

Analyzing Metric Changes

Analyzing metric changes and measuring the performance of products is one of the most important responsibilities in the product. This leads to answering questions like (and more):

  1. How do we increase engagement and conversion?
  2. Is there a problem with the funnel?
  3. Which of these two features/design options works better?

In this framework, I am outlining a way to think about 2 — is there a problem in the funnel? This would typically be in response to a metric changing significantly from its baseline. Mostly downwards. But upwards needs to be understood as well — it could point to a way to improve the product!

TL;DR Version

Here’s a quick version of the framework to analyse metric changes. For a detailed explanation, continue reading below.

Data Accuracy

  1. Instrumentation pushing data to your analytics tool.
  2. Does the tool have a bug?


  1. Are there explainable patterns.


  1. Were there recent product changes?
  2. Check the data for explanations.

Internal Factors

  1. Were there recent changes shipped by other teams?
  2. Check for business changes.

External Factors

  1. Check with your customers.
  2. Check for changes in the competitive landscape and macroeconomic and natural environment.

The Long Version

Check for Data Accuracy

This should be the first step. There is no point diving into deep analysis if the data is not right. Garbage in, garbage out.

Check the instrumentation pushing data to your analytics tool. On the web, you can check the API calls. Or, better if your developers have built some sort of an add-on that allows you to check the data that is being pushed. (We had a custom Chrome Extension built for this purpose at Cleartrip.) Apps can also be tested similarly. But requires a bit more effort to debug along with the app development team.

Depending on the analytics tool you use, there might be another way to check if the data is accurate. If the tool allows you to inspect data at an individual user level, then you can perform a bunch of steps related to the metric you are tracking and check if the data shows up correctly in the tool. For example, we would go through a booking funnel and make a note of the search parameters, selections made and other inputs. Then check for the same against the user profile. Repeat this 2–3 times with different inputs to validate the data.

Ideally, you should follow the steps above before a feature or product is launched to ensure that this doesn’t become a problem in the real world. But bugs ship.

Then check if the tool itself has a bug. The issues are more likely to be related to how the tool processes and presents the data, rather than with pushing data itself. If there are bugs in the tool, then this will manifest itself not just for the current metric but also in other cases. Check other metrics and funnels if you can spot similar inconsistencies.

Most businesses today rely on third-party analytics tools. It is just not worth investing in building a robust analytics framework without significant scale or for regulatory reasons. So, if the tool isn’t performing as you expect, it is worth digging deeper and consider alternatives.

Check for Patterns

Once data and tool accuracy are eliminated as potential causes, dive into the data to understand what’s happening.

Check for explainable patterns. Depending on the industry many metrics follow a pattern. Knowing this can help explain what is going on. Patterns could be related to seasonality (e-commerce purchases go up during festivals), weather conditions (the outdoor experiences market goes down during monsoons) or competition actions (competitor launches a big TV campaign).

If you can identify the pattern, you can quickly validate this by comparing historical trends and the impact of similar patterns in the data. This will save a lot of time in analysis and help reach a conclusion sooner.

Check Your Product

The next step is to go deep into understanding if it’s your product that caused the variation.

Check for recent changes. Did you ship changes recently? Could that explain the change? If you introduced changes with an A/B test, compare it to the control data. Else, do a before and after comparison within a small window.

If you did make changes, it is time to dive deeper into the data.

Check the data for explanations. Navigating the data for explanation is like navigating a maze. You can get lost if you are not careful. There are infinite ways to look at the data. But only a handful can explain the deviation. With too many small slices the sample size starts reducing which in turn reduces the explainability of the data.

While checking the data, also look for changes in user behaviour. This is unlikely to happen overnight unless it was linked directly to a release. So, check the trends. Is there a pattern of a metric going down (or up) over time.

If you did not ship any changes, it’s time to look elsewhere in the organisation.

Check Other Internal Factors

Check for recent changes shipped by other teams. Find out if any releases were pushed by other teams that might cause an issue. This is especially true if there are code dependencies or shared resources within an organisation.

Check for business changes. Changes in business tactics can impact metrics. For example, increased marketing spend increases the top of the funnel leading to a conversion drop. Was there a pricing change? Were there changes in the support function?

Check for External Factors

You’ve gone through the whole process, and you still can’t explain the change. Now what? It is time to look outside.

Check with your customers. Talk to customers to understand if their expectations or needs have changed. Have they hit the limit of what’s achievable with your product? Do they like an alternative better?

Check the competitive landscape. Did a new competitor enter the industry? Was there a pricing change? Or, a massive marketing campaign?

Check the macroeconomic and natural environment. Once all options are exhausted, it is time to zoom right out and look at the economy and environment at large. This is more relevant today than it has ever been — COVID-19, trade wars, push for manufacturing independence, mega cyclones and earthquakes are all potential factors impacting metrics.

This post turned out to be longer than I expected it to be. But it is difficult to explain an analytics framework without explaining the thought process behind it. If you are interested in the short version, I have added a tl;dr version of the framework as well.

Principles for Managing Teams

I have recruited and developed a team of high-performing product managers in the last few years. In terms of mentoring them to grow there are a set of principles, I try to stick to. This has evolved in the last 3–4 years. I am sure this will evolve in the future as well.

  1. To scale as a product leader, delegate and trust your team. If you cannot, you did a bad job of hiring. Take your time to build the right team. Spending time before a hire is better than after.
  2. “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.” — Steve Jobs
  3. Define clear responsibilities, goals and expectations, then get out of the way and let them do their job. Give freedom and protection.
  4. Be available always to guide and mentor them. Give feedback along the way — don’t wait for formal reviews.
  5. Dedicate time every week to discuss their week, guide them, brainstorm with them, set expectations and inspire them.
  6. Make being redundant your goal. If you are no longer needed for what the team is responsible for, you have done great. This frees up your time to focus on other things to push the business forward.
  7. Think of your team’s future, their growth. Work towards that — with them and in the background.
  8. Work to increase their visibility in the organisation.
  9. Take the fall for them and protect them from the rest of the organisation. But show them the right path to help them improve.
  10. Be honest and brutal with your feedback if they are off-track. But be clear with examples, expectations and a path to improvement.

Simplifying Product Complexity

Over the last decade, I have been involved in building hundreds of features. Sometimes to add customer value. At other times to improve internal efficiencies. And many other reasons. The challenge has always been simplifying the solution. It is to find the sweet spot between the complexity of the build vs likelihood of risk or reward.

I started off loving the complex solutions. But have wisened up since then. Here’s how I approach this today.

Start with the problem. Think about the ideal solution that solves the problem completely for your customers. This is likely going to be complex and convoluted to build. (Which means you’ll be slower to market and, hence, slower is validating your hypotheses behind solving the problem in the first place.)

Now evaluate the impact of solving the problem. What’s the outcome going to be? For your customer. For you. What’s the likelihood of that outcome?

Now take a step back and question the solution. Does it need to be as complex? How much can you remove and reduce without reducing the benefits so much that the outcome is no longer useful — for your customers and/or for you?

This step is recursive as you keep simplifying. Where you stop is determined by when:

  1. The outcome is likely to be no longer useful for your customers.
  2. The outcome is likely to be no longer useful for you.
  3. You can’t measure (1) or (2) by simplifying any further.

What remains is something that is probably good enough to be of value to both your customers and you. (This is a simplification of explaining simplification.)

Few examples of simplification I have used in the past.

  • Use a static CSV or JSON instead of an interface.
  • Hardcoding works. (If you can convince your engineering team.)
  • Assume defaults — remove choices and inputs.
  • Use rules instead of fancy algorithms.
  • Discrete selections instead of open-ended inputs (aka chat-bot).
  • Human-powered processes instead of tech solutions.

The goal is not to create fancy tech. It is to solve a problem that your customers value. Bring in the tech once the hypotheses are validated and you need to scale.

App Store, Developers and their Customers

The narrative around Apple vs Hey in the past week has mostly focused on the draconian, and often arbitrary, App Store rules. And for good measure. Rules formulated in the early days of the App Store are due for a change.

However, most of the discussions have ignored the third side of this relationship — the customer. This is where the suggestions to dismantle the App Store or allowing alternative “App Stores” become a problem. While this may be good for some developers (some is the critical word here), it most certainly won’t be the preferred outcome for customers. 

The fundamental problem with this suggestion is that it ignores the second and third-order effects on customers. Let’s break this down — from the customer’s perspective. 

There are more reasons beyond what I mention here on why breaking up the App Store as the centralised distribution point is a bad idea.

Where do I get apps from?

There is no ambiguity about this. There’s one App Store. That’s where I get my apps from. And it’s already there when I buy a new phone. Nothing else to download. No dance with cables connected to laptops.

Even if we assume regulations force Apple’s hand to bundle alternate Stores with the iPhone, do customers know enough to trust them? And, worst case, if there’s no store app bundled – what then? The App Store (and the Play Store) solves this problem. Customers have built their habits with this reality for 10+ years. What happens if this is suddenly broken?

Is the app safe to download?

The stores abstract away this decision by imposing constraints and via the review process. What happens if it becomes the Wild West – like the Windows desktop app universe? How do customers know if an app can be trusted? This doesn’t affect the big-name developers or large corporations. But it does affect apps from small independent developers.

With alternate stores out there, can customers trust these stores versus something they have used for 10+ years?

Is the app any good?

Reviews, ratings and editorial recommendations play a role in customer decision making. A fragmented store ecosystem makes this far more difficult for customers to know if an app is really what it says it is.

How do I pay for the app?

This is one of the contentious issues of the current debate. But, let’s accept it, the integrated payment system makes life way easier for both customers and developers. I have had this experience first hand with payment processing via traditional gateways versus Apple Pay. While CC conversion rates on traditional gateways hover around 80%, Apple Pay is consistently around 98-100%. What’s better?

Let’s think through what happens if this wasn’t an option.

  1. Customers have to go through the dance of providing card details and 2FA.
  2. Lower payment success means increased customer dissatisfaction.
  3. And lower conversions for the developer along with increased support requests.

How do I track my subscriptions?

We are living in an era of subscriptions. Everything is a subscription. And it is very easy to lose track of what I am subscribed to and from where. On the App Store, this is consolidated. Allows me to track and change any time without going through credit card statements or searching for mails.

This is an already fragmented system today, and dissing the App Store will make things more difficult for customers.

Have I already purchased this app?

A fragmented distribution eco-system can also drive repurchases of the same app from different sources. Then this becomes a customer support issue. Not something independent developers or small businesses want to add this to their task list.

So, why are these issues? The PC (Windows and Mac) ecosystem has existed for decades. And people have adapted to life with the fragmented distribution models.

What’s fundamentally different is who uses phones. Global PC shipments in Q4’19 were at 70.6 m units [1]. Global smartphone shipments were 368.8m units [2]. And this gap has been widening in the last decade.

A generation of users who have never used a PC. Their knowledge of the platform is far limited than those debating the virtues of breaking the App Store apart. This is not the solution.

But that doesn’t mean that the rules should remain as is. What happened in the context of Hey is not ideal. But before we jump to recommending solutions, let’s think through the second and third-order effects on customers.

Before I could hit publish, spotted this. Change is inevitable.

[1] Gartner Says Worldwide PC Shipments Grew 2.3% in 4Q19 and 0.6% for the Year
[2] Smartphone shipments by vendor worldwide from 4th quarter 2009 to 1st quarter 2020

Building Mobile Apps

Owning Cleartrip’s mobile apps between 2014–16 was one of the most satisfying assignments I worked on. It was the beginning of the mobile growth years in India. We had the opportunity to shape the direction of the product. The team’s effort improved most metrics. There was external recognition as well. The app was selected Editor’s Choice on both App Store and Play Store in this period and won a few product-design awards as well.

The success of the mobile platform also gave me the opportunity to be part of public discourse on mobile growth in India. Here are some mobile app development principles I had put together for a presentation during that time. Much of it is still valid.

  • It is still difficult to tap, type, correct and read on a mobile screen. Reduce and remove friction for these actions.
  • Reduce the number of taps required to reach a goal. Provide recommended starting points, combine actions to reduce clicks, ask for as few details as possible.
  • Reduce duplication, make it easy to find again. Remember recent and past actions, repeating inputs and “what I’ve already seen”.
  • Anticipate user needs and intervene. Assisted filters, fuzzy search and real-time input validation reduce stress.
  • Make it easy to assimilate information. Solve for aggregate (result-set grouping) as well as specific information (result metadata). Progressively disclose details.
  • Gracefully handle errors — ”What did I do wrong? What are the consequences? What should I do now?” Switching context to Google for solutions is stressful.
  • Solve for the journey; not the stop. Engagement brings users back. When users come back, trust increases. An increase in trust leads to (repeated) conversion(s).
  • What does a customer lose by leaving? What does a customer gain by staying? These are the best use-cases.
  • The best use-cases decay slower than others increasing retention. Encourage and guide users to these use cases.
  • Solve for mobility. Use device capabilities, solve mobile specific use cases (eg. near me, right now, share). But respect the physical limitations of the device — display, storage, bandwidth, battery. [1]
  • Respect the platform. Use first-party patterns where available. Don’t port patterns across platforms.

[1] This is one aspect where things have changed significantly in the last 2 years. Most of these aren’t practical limitations any more. But that is no reason to be complacent. Behaviour (eg. concern about app size) is hard to change.

[Update: 20 April, 2021]

A thread on this on the occasion of Cleartrip’s acquisition by Flipkart: