Product ownership is an interesting challenge - you want to limit WIP and avoid context switching, but you can't just laser focus on building and neglect caretaking.
https://twitter.com/johncutlefish/status/1360354543398129665
This is why trying to develop many new things in parallel doesn't work, and why single threaded leadership is so effective. Without consciously attending to all the dimensions of the product, you'll build an unstable tower that is constantly collapsing.
This model also shows why focusing on outcomes is more important than outputs. The second approach looks tempting from a feature factory perspective, but if you have visibility into outcomes, the work in the first approach becomes just as meaningful.
When you're only measured on shipping new features, the caretaking work is not rewarded and thus neglected. But if you have literally any product metric as your North Star, you can draw a line from all of the activities in the first column to meaningful & rewardable results.
Without the other work you're also neglecting three of the four parts of the OODA feedback loop, to say nothing of the higher order loops.
https://twitter.com/PavelASamsonov/status/1296190199618129920?s=20
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