07:40 Facebook, Airbnb, and Uber have successful growth teams that optimize metrics like monthly active users and weekly trips to improve user experience and drive growth.
- Facebook's growth team was structured with all functions including product engineering, analytics, design, and marketing working together within the growth organization.
- Having a growth team responsible for optimizing metrics was an unusual concept in startups, but proved successful for companies like Facebook, Airbnb, and Uber.
- The role of the growth team at Airbnb has evolved from being an evangelizing team to analyzing and optimizing every step of the user experience.
- Facebook's Northstar metric is monthly active users, which is the one metric that the growth team focuses on to set goals and track progress.
- Uber's Northstar metric is weekly trips as it considers both the supply and demand sides of the marketplace, allowing for growth accounting on each side to get more riders and drivers.
- The real-world component of the ride-sharing process adds extra challenges for drivers, resulting in many activated drivers never completing their first trip.