My guests this week are Kevin Systrom and Mike Krieger, the co-founders of Instagram. I met Kevin and Mike a few months ago over a shared interest in business and investing. I have found them both to be extremely good people who have a rare talent for finding and solving interesting problems. Indeed, problem-solving and jobs-to-be-done is a big part of our conversation. I realized walking into the podcast that Kevin and Mike have a rare set of experiences: having both built and sold an extremely successful product from scratch, but then also operated and scaled inside one of the largest businesses in the world. This means they have unique knowledge to offer just about anyone interested in business and products. We dig into all those lessons here. I am working on hosting more founders and CEOs on the podcast, and can’t think of a better pair to show you why I want to do so. Please enjoy my conversation with Kevin and Mike. For more episodes go to InvestorFieldGuide.com/podcast.Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.Follow Patrick on Twitter at @patrick_oshagShow Notes1:38 – (first question) – Projects they’ve been working on since leaving Instagram5:22 – How they can apply what they are learning in machine learning7:18 – Most interesting experience diving back into data and machine learning8:42 – How startups compare today to when they founded Instagram13:23 – Judging founders and whether they know how to use their data effectively14:26 – The jobs-to-be-done framework19:14 – Laying out a vision vs solving problems that pop up25:20 – Developing and sharing the principles of the company with the team30:48 – Creating a community when it includes almost the entire world39:03 – The most popular ways people used the platform41:24 – What was the jobs-to-be-done rational behind the stories feature44:15 – Interesting things that they saw as Instagram entered the developing world46:40 – Their thoughts on how Instagram shaped culture and if they focused on those52:58 – The new waves that they are observing right now55:11 – How their thinking on leadership and teams changed during their time at Instagram and Facebook1:03:23 – The pillars of a good business, including humility and confidence1:06:06 – Focus on growth and distribution in a startup1:10:01 – How early were they thinking about monetization on this free platform1:13:43 – How do they think about how they invest their money and allocate resources1:17:36 – Mentors for Kevin and Mike1:20:30 – Their passion for learning to fly and the someday/maybe list1:23:01 – Their interest in coffee1:26:24 – Advice for everyone else1:30:00 – Kindest thing anyone has done for themLearn MoreFor more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclubFollow Patrick on twitter at @patrick_oshag