In this interview Jason Calacanis uncovers keys to success from LinkedIn’s CEO Jeff Weiner. They discuss a range of topics from how 60% of Linkedin’s 2.2 billion in revenues is in the recruiting space to how they are going to launch a platform flagship product called conversations transforming the company.
Some of our favorite bite sized takeaways from this interview that stood out are;
- Linkedin has 3 forms of revenue (Recruiting, Marketing Solutions, and (Native/Sponsored ads)
- When Jeff was recruited from Yahoo there were 32 million members at Linkedin and now there are 347 million members
- 3 Dimensions to curated blog content on their network has to do with data optimization (algorithm), social/virality (curation), and an editor
- Linkedin is a platform for opportunity
- It’s not just who you know, its what you know
- Jeff Weiner lead a team that covered Yahoo’s search, home page, and media products
- Talks about how Yahoo’s downfall was losing to companies with a single focus on each area they added. For example Google = search
Five Insights Jeff Weiner, CEO of Linkedin to be a Great Product you have to have these 5 elements and dimensions.
- Single Value Proposition (Google = search, Headspace = meditation)
- Simple, intuitive and anticipate customer needs (Gave Waze as an example)
- Exceeds expectations will be forgiving and it builds trust and relationship with customer (Gave an example of a Sonos rep helping him on the phone for over an hour to have music ready for a dinner party)
- Not just about creating value but how the product makes you feel and is there an emotional connection (Tesla = Driving the future)
- All great products change your life
Towards the ends of the interview you can see Jason and Jeff come full circle when Jason keeps asking Jeff about maybe buying a media outlet as Washington Post sold ect.. Jeff proves single value proposition is very important by suggesting it wouldn’t be part of their core focus. Jeff did mention that their new Conversation product they will be launching possibly this year will be the core of their platform and flagship offering.
Here is the full interview from This Week in Startups to gather your own insights.