Why most product managers are actually bad—and what separates the elite from the median. Peter Sellis, first PM at Snapchat and former Head of Product at Discord, reveals counterintuitive lessons on team design, growth strategy, and the three oxymorons of great product leadership without corporate comms filter. Great product managers are exiting the profession to become founders or executives, leaving the median PM significantly below the profession's average—a mathematical consequence of power-law distribution in skill.