Trade Republic’s Post

Scaling Product Technology @ Trade Republic Last week Max Fischer, our Director of Engineering, joined the stage at Amazon Web Services (AWS) Summit and shared insights into how we have transformed our operating model and technology responsibilities over the past few years. 📈🔥 📍Key takeaways: 1. Developer attention is our most important resource. We designed our operating model with builder focus and reduced communication overload. 2. Frugality: spend on what matters. With allocating our resources on building rather than buying, we are assertive that we can craft the most adaptable and scalable operating system for wealth accumulation in Europe, if not the world. 3. Create a culture of ownership and accountability, where each team acts as a startup on its own with full responsibility for the roadmap and lifecycle of their services. Bottom line: we are a tech company with a true builder mentality. And this mindset is displayed in our organizational structure as well as how we work on a daily basis.

🚨 🔥 Did you know that for a vast amount of emergency calls the exact location of the incidents can't be determined? It's a real challenge, and the German Red Cross decided it was time to tackle it with the help of the Public Impact Hub! 🌟 The hub takes on a specific challenge and puts together a team of talented people to develop a smart digital solution. Five brilliant minds with backgrounds in product management, software engineering, AI and interaction design spent three intense months on solving this specific topic. Curious to see the magic unfold? Just watch the video and learn how they approached it. Deutsches Rotes Kreuz Amazon Web Services (AWS) UnternehmerTUM Rafael Turqueto Duarte Kyle Christopher Melchor Hyewon Han Adeniyi Bella Joseph Adeabah Alexander Badem Lars Schmitz Behboud K. Michael Stockerl #DigitalTransformation #PublicImpactHub #Innovation #TechForGood #AWS #ChallengeAccepted

How To Be More Successful? Fail More ... Thomas J Watson (ex-president of IBM for 38 years) once said "if you want to increase your success rate, double your failure rate". He is also famous for not firing an employee who made a $600,000 error, instead saying "Why would I fire him? I just spent $600,000 training him". In 2005, when booking . com was getting started, they built an "experimentation platform". To this day, there are over 1,000 experiments being run concurrently by different teams every day. The result? booking . com currently has ~20k employees and generates $10 billion in annual revenue. Still not convinced? Amazon Web Services (AWS) was initially launched as an experiment and has since become one of the fastest-growing B2B companies in the world. It currently has over 1 million active users and generates $18 billion in annual profit. The moral? I'll let Jeff Bezos eloquently sum things up ... "To be innovative, you have to experiment. You have to do more experiments per week, per month, per year, per decade. It's that simple. You cannot invent without experimenting". #failure #testandlearn #iteration

Building and scaling your software business today is not just a goal but a new battleground. While achieving product-market fit can be challenging, scaling is an entirely different beast. At Trustshoring, one of the most common challenges we see businesses facing is a lack of clarity as they grow. 🎯 ❌ Suddenly, there are multiple targets, with little to no clear direction on what is being built and for whom. In today's post, we share what some of the best tech companies have done to mitigate these problems, and how they've shifted operations as their companies and staff grew. 💡 Google, Netflix, Amazon, Salesforce #productmarketfit #saasgrowth #productgrowth #scalability #scalablesoftware

Another nugget of wisdom from Amazon's early years: Bezos always pushed back on big platform migration or re-architecture projects, for a very good reason: they almost always result in negative customer value. Amazon (at the time) was a very customer-centric business, and engineers' desires for more elegant architectures really has little to do with the customer experience. Usually. Rather, a migration consumes your engineering team with moving and rewriting existing services instead of innovating new things on the customer's behalf. And, these migrations inevitably go wrong somehow, leading to downtime and customer-facing errors - especially when you're dealing with Amazon levels of scale. That's not even getting into the cost of such projects. I get that there is value in improving the maintainability of an organization's systems, or modernizing them in order to attract new talent. But big migrations usually have big unintended consequences, and need to be viewed through the lens of the value they ultimately bring to the customer. As a technical manager, a big part of my job was laying out a roadmap for modernizing our systems in a responsible manner. Moving at a pace that wouldn't hobble innovation in other areas, and ensuring the systems we were modernizing were ones where the customer would benefit from the effort in the end. Sometimes it's better to just shut down a system customers don't really need, than to re-engineer it.

Where are our math lovers? Dive into the equation of happiness with us. Beyond landing dream jobs, launching million-dollar projects, or kickstarting startups, what truly sustains happiness and fills our hearts? This month's read by former Google executive Mo Gawdat offers an analytical take on this timeless quest for joy. Step away from typical self-help books and embrace a fresh perspective on happiness. Happy reading! https://lnkd.in/dEwbUuHM

Reflecting on the insights gained at #AWSSummit LA, I'm intrigued by the potential of Amazon's Bedrock and Q in transforming software development methodologies. Bedrock's commitment to simplifying integration processes stands as a beacon of hope for developers grappling with complexity. Its promise of seamless integration not only streamlines workflows but also underscores the importance of user-centric design in modern software architecture. In parallel, Amazon Q emerges as a guiding light in this journey, offering invaluable insights on integrating with Bedrock while automating code generation. This fusion of practical guidance and automation not only accelerates development cycles but also empowers developers to focus on innovation. As we navigate the evolving landscape of software development, these innovations compel us to rethink our approaches, paving the way for more efficient, scalable, and resilient systems. Excited to witness the impact of these advancements as we continue to explore the frontiers of technology and innovation. #SoftwareDevelopment #AWS #Innovation #TechTrends #AI #CloudComputing

Some reflections while waiting for my plane to take off. We keep talking about “product-led” and #empowered culture, and how the transformation is a cultural and skills-based transformation - all still valid. But it’s critical to remember that it’s also a major architectural #transformation. For example, we were only able to stop threading water at Amazon International Tech, when we got access to decoupled APIs and a fully #internationalized codebase. In a company that grew organically and now requires a transformation, PMs and Dev teams don’t have an easy time getting to such decoupled architecture. This re-design takes time and persistence, and yes, a cultural transformation needs to happen in parallel to actually make full use of the new architecture. Some more thoughts on it from John Cutler and Gene Kim : “They're like the hypothetical Volvo, " Oh, for me to achieve what I need to do, I need these, temperature, windshield wiper, and sunroof data feeds. And, now I'm stuck in line. It's gonna take 11 months each and now I have to cajole, politic, escalate, right, play games, to get what I need done." How much would it be worth to create the system where everyone has genuine independence of action, where every one of these capabilities is self service? “ link to their podcast in comments:

Join the #NERCOMP #Innovation Task Force for our first webinar of the academic year on October 5th: Amazon's Culture of Innovation with @JoshArbaugh #AWS #Amazon Event Overview Amazon’s approach to innovation has remained consistent since the company first launched – start with the customer and work backwards. To support long-term innovation at speed and scale, Amazon’s Culture of Innovation is organized around four interdependent elements: - Culture – be customer obsessed, hire builders, empower them to build fast, and retain a “Day 1” culture that fosters innovation and surprises and delights customers - Mechanisms – processes and mental models that help turn good intentions into action and facilitate high-velocity decision-making and execution - Architecture – establish a technical structure that supports rapid growth and change, reduces dependencies, and allows greater access to the technology that helps you builders build - Organization – small, autonomous teams that own what they create, with the right resources to support rapid innovation, nimble experimentation, and a single-threaded focus on their customers Learning Outcomes - Provides valuable insights, lessons learned, and best practices from Amazon’s cultural mechanisms and our own innovation journey - Fosters dialogue about specific innovation challenges and opportunities where AWS may be able to help - Accelerates your innovation by helping identify the next steps with the right AWS teams to solve problems and realize opportunities for your end customers Save your seat: https://buff.ly/3O995Vj

As Amazon CTO Werner Vogels wisely stated, "Everything fails all the time." In the tech world, failures are inevitable, but what matters most is how we respond to them. Providing users with clear visibility into their environments is key to swiftly addressing issues. TechAhead's 3P #Observability Framework—#Platform, #Product, and #People —offers a comprehensive strategy to enhance observability. Discover how #Stripe has implemented this framework, setting a prime example of achieving robust observability at scale. Embrace observability to ensure seamless operations and quick issue resolution as your company grows. #TechInsights #Microservices #CloudComputing #DevOps Read more: https://lnkd.in/gZrw2k7n