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Let's check out the latest and greatest news in the product/tech world 🍿

1. The Telegram messenger app is adding stories as a new feature and they look exactly like stories look on every other social media app. We at Product Jobs are skeptical that users will rush to post their stories on Telegram over other products but only time will tell ⏳
2. Twitter has been making waves (while also arguably hurting the quality of content on its platform) with its new - and surprisingly lucrative - ad revenue sharing for creators. TikTok appears to be following suit as its "creativity program" is reportedly earning some creators huge paydays💰
3. Twitter continues to make life harder as TweetDeck, now called X Pro, will no longer be free. Instead, it requires an "X Premium" subscription costing $84/yr. in order to be used. We're curious to see how far this trend of tech companies charging for previously free products will go  🤷‍♂️
4. In one of the weirder product announcements of the week, Google is reportedly teaming up with Scale AI to build an AI that offers life advice. Weird times... 😅
5. The AI may be giving out life advice, acting like it wants to help, but don't be fooled. It can still take your job. IBM reportedly plans to replace approximately 8k jobs with AI. Check out which ones are first to go 😳

It's that time of the week! Here are some more resources that can help advance your product career and job search!

PM Interview Question of the Week (Dropbox)

Imagine you're a Product Manager responsible for a new feature aimed at increasing user engagement with Dropbox's cloud storage platform. How would you define and measure success for this feature using appropriate metrics?

Try this exercise for yourself and go to the end of this newsletter to see how hired PMs at Dropbox approached this question!

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Dropbox Interview Question Approach

For this feature, which is designed to enhance user engagement with Dropbox's cloud storage platform, I would focus on a set of metrics that align with our goals. Let's break down the approach:

1. Goal Definition: The primary goal is to increase user engagement, ensuring users are actively interacting with the feature and utilizing our platform more frequently.

2. Key Metrics:

• Feature Adoption Rate: This metric measures the percentage of users who have adopted and used the new feature after it's been launched. We want to see a steady increase over time as users discover and start using the feature.
• User Engagement Frequency: This metric tracks how often users engage with the new feature. We'd want to see users using the feature multiple times, indicating it's becoming an integral part of their Dropbox experience.
• Feature Utilization: This metric measures the extent to which users are utilizing the feature's capabilities. This could include actions like uploading files, sharing links, collaborating, or organizing content using the feature.
• Time Spent: Monitoring the average time users spend using the feature per session or per month can provide insights into how engaging and valuable they find it.
• Retention Rate: We'd look at whether users who engage with the feature have higher retention rates compared to those who don't. An increase in retention among feature users suggests its value.
• Feature Feedback: Qualitative feedback is valuable too. Tracking user feedback through surveys, support tickets, and user interviews would provide insights into the feature's usability and value.

3. Implementation and Analysis:

• A/B Testing: To measure the impact of the feature, I'd set up A/B tests to compare engagement metrics between users who have access to the feature and those who don't. This would help quantify the feature's impact on user behavior.
• Cohort Analysis: Tracking engagement metrics among different user cohorts can help us understand if the feature is resonating more with specific user segments and whether our strategy should be adjusted accordingly.
• Funnel Analysis: Examining the user journey through the feature can help pinpoint any drop-offs or areas for improvement. For instance, if users are starting the process but not completing it, we'd need to investigate further.

4. Iteration: Based on the metrics, we'd iterate on the feature, making improvements to enhance engagement further. For instance, if we notice that engagement frequency is low, we might consider adding personalized notifications to remind users of the feature's benefits.

In summary, measuring the success of the new feature involves monitoring adoption, engagement frequency, utilization, time spent, retention, and user feedback. These metrics collectively provide a comprehensive view of how the feature is impacting user engagement with Dropbox's platform.