WEBVTT - A Web3 Primer with Jarrod Dicker 0:00:05.280 --> 0:00:08.680 Happy Holidays at Landia. Alexa and I wanted to bring 0:00:08.680 --> 0:00:11.280 you a conversation that we had a few weeks back 0:00:11.320 --> 0:00:14.600 just after Thanksgiving with three pet guests, Jared Dicker. Jared 0:00:14.600 --> 0:00:17.360 Dicker is back to talk to us about all things 0:00:17.400 --> 0:00:20.119 web three. As the Web three n f T Crypto 0:00:20.200 --> 0:00:23.599 Conversation continues on, we wanted to take a step back 0:00:23.800 --> 0:00:26.520 and really dig into some of the fundamentals around what 0:00:26.560 --> 0:00:29.159 we need to know as marketers and the implications and 0:00:29.200 --> 0:00:32.520 applications as we turned the page into twenty two. Hope 0:00:32.560 --> 0:00:35.440 you enjoy I'm off my game today. No, you're not. 0:00:37.000 --> 0:00:39.000 People are going to have to start making better content. 0:00:39.040 --> 0:00:40.320 I think we're gonna be talking about this for a 0:00:40.360 --> 0:00:43.519 long time. When you program for everyone, you program for 0:00:43.560 --> 0:00:45.559 no one. I think it's a were purpose driven platform, 0:00:45.640 --> 0:00:48.839 like we're trying to get to substance. How was that? 0:00:49.000 --> 0:00:52.519 Are you happy with that? This is marketing therapy right 0:00:52.560 --> 0:00:57.920 now and it really is. What's up? I'm Laura Currency 0:00:58.040 --> 0:01:02.360 and I'm Alexa Kristen. Welcome back Landia. Happy holidays at Landia. 0:01:02.520 --> 0:01:05.400 Because you know, I have a very big family, all 0:01:05.440 --> 0:01:09.440 of which convenes at my house every year. This is 0:01:09.440 --> 0:01:13.399 a tradition, right, yes, longtime tradition in my house watching 0:01:13.440 --> 0:01:17.559 the Macy's Thanksgiving Day parade, and it was the first 0:01:17.560 --> 0:01:21.559 time and very relevant to this conversation, I had heard 0:01:22.120 --> 0:01:25.360 the word n f T s in such a mainstream setting. 0:01:25.440 --> 0:01:28.560 You know, so much of what I've been following in 0:01:28.600 --> 0:01:31.480 the n f T space either comes from you or 0:01:31.880 --> 0:01:36.400 Web three, Twitter. And it was part of the parade 0:01:36.480 --> 0:01:40.360 where they were talking about Disney putting out a series 0:01:40.360 --> 0:01:41.960 of n f T s and special moments, which I 0:01:41.959 --> 0:01:43.640 think you picked up as well. Yeah, there was a 0:01:43.640 --> 0:01:45.640 bunch of a R work that they did. Actually, there 0:01:45.680 --> 0:01:48.440 was a balloon. If no one saw this. My daughter, 0:01:48.480 --> 0:01:51.160 my six year old daughter watches Macy's Day parade, so 0:01:51.840 --> 0:01:53.200 I was sitting there with her and there was a 0:01:53.520 --> 0:01:58.240 R balloon and a whole are Millennium falcon that came 0:01:58.280 --> 0:02:01.560 onto the screen. It actually looked very real. She thought 0:02:01.600 --> 0:02:03.640 it was a real balloon, and then it flew away 0:02:03.680 --> 0:02:06.480 into the sky. It was amazing. But what was exciting 0:02:06.480 --> 0:02:08.800 about it? This is why it was cool. To your point, 0:02:09.560 --> 0:02:13.280 it was like super mainstream. As our producer Ryan shared, 0:02:13.360 --> 0:02:16.760 it doesn't get more mainstream than the Macy's Thanksgiving Day Parade, 0:02:17.240 --> 0:02:18.840 and then I want to step further and just looking 0:02:18.840 --> 0:02:22.920 into it, Macy's was auctioning off ten n f T s, 0:02:23.120 --> 0:02:26.880 all proceeds going to make a Wish Foundation and releasing 0:02:27.000 --> 0:02:30.720 upwards of free n f T s. So are we 0:02:30.760 --> 0:02:34.240 at an interesting inflection point. N f t S Crypto 0:02:34.320 --> 0:02:37.600 Web three did not come up at my Thanksgiving table, 0:02:37.680 --> 0:02:40.880 but I imagine it came up at many others, And 0:02:40.960 --> 0:02:44.200 so we thought it was the perfect time Alexa to 0:02:44.280 --> 0:02:47.520 have a long time friend and guests of Atlantia come 0:02:47.520 --> 0:02:50.919 back on the show. Our three Pete Jared Dicker, general 0:02:50.919 --> 0:02:54.880 partner at the Chairning Group ECG. He is coming back 0:02:54.919 --> 0:02:57.119 to join us. And one of the things that Laura 0:02:57.160 --> 0:02:59.160 and I have been talking a lot about is how 0:02:59.200 --> 0:03:02.919 does the community in the show really become a bridge 0:03:03.240 --> 0:03:06.880 from where we are today to where we're going tomorrow. 0:03:07.480 --> 0:03:11.120 And Jared is a great guest who's always been kind 0:03:11.160 --> 0:03:15.600 of not only open to but pushing towards a very 0:03:15.720 --> 0:03:19.000 kind of real future. Really, like, here's the infrastructure that's 0:03:19.040 --> 0:03:20.680 being built. These are the things that I can point 0:03:20.720 --> 0:03:23.000 to and I know for certain that these are the 0:03:23.000 --> 0:03:25.880 things that are being thought about, invested in, built, and 0:03:25.960 --> 0:03:28.360 so we're going to continue to do that, continue to 0:03:28.360 --> 0:03:31.280 have those types of guests and conversations. Jared is one 0:03:31.320 --> 0:03:33.799 of those people. He has a really interesting kind of 0:03:34.200 --> 0:03:37.520 background and I think perspective and all of that really 0:03:37.520 --> 0:03:40.559 makes sense to where he is today. But music journalism, 0:03:40.960 --> 0:03:47.240 do technology to media company, running ad tech and running 0:03:47.280 --> 0:03:53.720 the advertising products at Washington Post now too, building funding 0:03:54.080 --> 0:04:00.240 and finding the best in the crypto media space. What 0:04:00.320 --> 0:04:03.960 was really interesting about the Jared conversation is this idea 0:04:04.160 --> 0:04:09.440 of brands having the ability to drive value in ways 0:04:09.480 --> 0:04:14.280 that they have never had. That the idea about getting 0:04:14.280 --> 0:04:21.000 away from the just transactional, just advertising side of things. Again, 0:04:21.279 --> 0:04:25.120 advertising is not bad. This is not a versus. This 0:04:25.279 --> 0:04:30.360 is an and it's also it's an iteration, but it's 0:04:30.400 --> 0:04:34.400 really about how do you start taking content again which 0:04:34.400 --> 0:04:37.680 has been happening for the last ten to fifteen years, 0:04:38.360 --> 0:04:41.840 and not just create value for your view but now 0:04:41.920 --> 0:04:47.320 it's about creating value with your viewer, with your audience. 0:04:47.800 --> 0:04:50.720 I think we're gonna have a lot more CEOs and 0:04:50.760 --> 0:04:53.719 see a lot more CEOs in particular starting to look 0:04:53.760 --> 0:04:57.360 at where they can extend their business, where can they 0:04:57.480 --> 0:05:03.560 actually start to find more value market opportunities through web 0:05:03.640 --> 0:05:09.240 three and specifically on the quote unquote brand side, specifically 0:05:09.320 --> 0:05:13.760 on how that company starts to translate in new places. 0:05:14.120 --> 0:05:16.120 I thought you were going to say transact because it 0:05:16.200 --> 0:05:19.920 is a new way of thinking about transacting. That too, 0:05:21.240 --> 0:05:25.480 That too, we are there with transaction, new transaction models, 0:05:25.680 --> 0:05:28.480 new payment methods and models. I mean you can look 0:05:28.520 --> 0:05:32.880 at Square, to coin based, to any kind of crypto wallet, 0:05:32.960 --> 0:05:40.520 etcetera huge huge changes in this and how we buy, 0:05:40.720 --> 0:05:45.440 how we invest right is completely changing. And one example 0:05:45.480 --> 0:05:47.520 of that I will give you coin Based. The CEO 0:05:47.640 --> 0:05:51.760 recently said, I see us eventually and probably near future 0:05:51.880 --> 0:05:57.080 rather than far future, looking more like Instagram. Why because 0:05:57.320 --> 0:06:02.160 that's how people interact. But to your point, transaction and payment, 0:06:02.800 --> 0:06:09.080 how we pay and transact is completely changing into something 0:06:09.120 --> 0:06:12.960 that I think is much more mainstream and how we live. 0:06:13.040 --> 0:06:15.640 And you can look at shop you know, you can 0:06:15.640 --> 0:06:18.120 look at Shopify, you can look at e commerce, you 0:06:18.120 --> 0:06:20.640 can look at what Rachel Typographs started doing with McMackin 0:06:20.720 --> 0:06:23.680 thinking about how do you bring the transaction and the 0:06:23.760 --> 0:06:28.479 experience much closer together or one and the same. Um 0:06:28.520 --> 0:06:32.960 I think that's influenced how we transact. I'm thinking a 0:06:32.960 --> 0:06:37.840 lot about from the brand marketing side, what are the implications. 0:06:38.920 --> 0:06:43.440 And there's two ways in right now that I am 0:06:43.480 --> 0:06:47.400 able to start to begin to understand. The first one 0:06:47.520 --> 0:06:56.680 is about loyalty and providing tokens two consumers, presumably in 0:06:56.680 --> 0:07:01.480 a similar way you give people loyalty points. The loyalty 0:07:01.560 --> 0:07:06.080 points from my experience, particularly in retail, you buy something, 0:07:06.160 --> 0:07:09.880 your crew points to use those points to unlock offers 0:07:10.280 --> 0:07:12.640 that could be free shipping and handling, for example, right 0:07:12.960 --> 0:07:16.840 that could be early access to holiday sales. What I'm 0:07:16.920 --> 0:07:20.800 learning in this space is having a token also gives 0:07:20.800 --> 0:07:24.160 you access into this community. And it's really interesting to 0:07:24.200 --> 0:07:28.840 think about how a token allows you access into a 0:07:28.920 --> 0:07:33.760 curated dinner um with a hundred other people who are 0:07:33.840 --> 0:07:36.120 interested in said brand that want to come together and 0:07:36.160 --> 0:07:39.720 talk about specific industry. Right. So this idea of moving 0:07:39.840 --> 0:07:46.240 from loyalty for more consumption now can become loyalty for 0:07:46.360 --> 0:07:49.600 more content, loyalty for more experience, loyalty for more access, 0:07:49.760 --> 0:07:54.240 loyalty for more like minded conversations ownership. So there's that 0:07:54.320 --> 0:07:56.560 angle of it, and then the other one is the 0:07:56.800 --> 0:08:00.000 transaction element. We've been tracking over the last few weeks. 0:08:00.400 --> 0:08:04.320 The creation of the Constitution Dow. A number of people 0:08:05.200 --> 0:08:09.640 got together and said, there is a copy of the 0:08:09.680 --> 0:08:13.640 Constitution coming up for auction at South of Bees. We're 0:08:13.640 --> 0:08:17.880 going to begin to crowdsource the funds to bid on 0:08:17.960 --> 0:08:21.640 a copy of the U S Constitution one and twenty 0:08:21.760 --> 0:08:26.080 and it created fractionalized ownership. So the spoiler is unfortunately 0:08:26.120 --> 0:08:30.600 the Constitution Dow was outbid during this auction by a 0:08:30.640 --> 0:08:33.800 single bitter, by a single bidder. But there's some amazing 0:08:33.840 --> 0:08:38.200 statistics that came with this record number of money crowdfunded 0:08:38.600 --> 0:08:40.800 uh in less than seventy two hours was over twenty 0:08:40.840 --> 0:08:44.560 million dollars. I read on the Constitution Dow Twitter. They 0:08:44.600 --> 0:08:47.280 had seventeen thousand, four d and thirty seven donors, with 0:08:47.320 --> 0:08:50.040 the median donation size of two hundred and six dollars 0:08:50.559 --> 0:08:54.280 six cents, with a significant percentage of these donations coming 0:08:54.320 --> 0:08:56.839 from wallets that had been initialized for the first time. 0:08:57.640 --> 0:09:01.959 This thing took off in a way that was fascinating 0:09:02.080 --> 0:09:06.559 to watch, and despite the fact that they were outbid, 0:09:07.600 --> 0:09:14.679 proof of concept in fractionalized ownership. Thinking about a future 0:09:14.800 --> 0:09:18.240 where people are going to come together to buy things, 0:09:18.640 --> 0:09:22.360 it's just fascinating to think about all of the different 0:09:22.400 --> 0:09:29.000 things that this type of infrastructure can make possible totally. 0:09:29.360 --> 0:09:33.200 And what I thought was the most exciting was that 0:09:33.280 --> 0:09:36.800 it wasn't about a board ape, which I love board 0:09:36.840 --> 0:09:39.000 eight yacht club. That's not it. But I think that 0:09:39.040 --> 0:09:42.280 the world UM that's starting to learn about n f 0:09:42.360 --> 0:09:45.040 t S and learning about taos, there's a lot of 0:09:45.040 --> 0:09:48.920 skepticism right around the money that's spent, the things that 0:09:48.960 --> 0:09:53.000 are being created, digital art, etcetera, etcetera. And for the 0:09:53.040 --> 0:09:57.319 first time, I think that we saw a major historical 0:09:58.520 --> 0:10:04.720 coveted artif act that people got around UM not only 0:10:04.920 --> 0:10:09.400 with their dollars and their wallets, they got around in philosophy. 0:10:09.600 --> 0:10:12.640 It made sense. And here's the thing. The thing that's 0:10:12.679 --> 0:10:16.640 different about the DOW is that it says also says 0:10:16.679 --> 0:10:20.920 as much about your identity and your belief system, what 0:10:21.040 --> 0:10:26.400 you do and who you are as much as you know, 0:10:27.040 --> 0:10:32.080 maybe the board ape you buy or the bio you 0:10:32.200 --> 0:10:35.079 have for yourself and the work that you do, well, 0:10:35.120 --> 0:10:37.840 your wallet becomes your bio right and there you go, 0:10:38.320 --> 0:10:41.120 which is pretty crazy. Like if you start to think 0:10:41.160 --> 0:10:44.080 about what you buy, what you invest in, and the 0:10:44.160 --> 0:10:48.199 taos or the communities that you belong to that starts 0:10:48.280 --> 0:10:54.240 making up an identity for you. Um that is maybe 0:10:54.520 --> 0:11:01.120 more meaningful than your identity on Instagram, Instagram, Facebook, cetera. Well, 0:11:01.120 --> 0:11:04.160 it's because what you're actually investing in. It's about where 0:11:04.200 --> 0:11:07.600 you're putting your wallet. And with that, we'll be right 0:11:07.600 --> 0:11:15.400 back all right at Landia. We are back with our 0:11:15.400 --> 0:11:18.520 partners that yield Mo, and this mini series we take 0:11:18.559 --> 0:11:22.120 on how contextual targeting is being reimagined as brands make 0:11:22.240 --> 0:11:27.199 every interaction with their consumer meaningful. Welcome Lisa Bradner, GM 0:11:27.240 --> 0:11:30.120 of Data and Analytics from yield Mo. Thank you so much, 0:11:30.240 --> 0:11:32.800 great to be back. Always great to talk to you guys, Lisa. 0:11:33.040 --> 0:11:37.920 Every brand, every marketer is chasing the customer and the 0:11:37.920 --> 0:11:41.160 consumer what they want, and brands really need to have 0:11:41.200 --> 0:11:44.000 a perspective on where they show up, how they show up, 0:11:44.320 --> 0:11:47.200 and what those consumers need. And I think it really 0:11:47.280 --> 0:11:50.439 changes how marketers actually process and move through not only 0:11:50.520 --> 0:11:54.760 their marketing organizational structure, but maybe more importantly right now, 0:11:55.240 --> 0:11:58.480 their marketing process. How does that change the role of 0:11:58.520 --> 0:12:03.560 the marketer and really getting more closely aligned with the need, 0:12:04.040 --> 0:12:08.040 like a specific need of the consumer. First of all, 0:12:08.160 --> 0:12:10.880 I would say I would argue we've swung too far 0:12:11.080 --> 0:12:14.600 to sort of this insecure running after our customers hoping 0:12:14.640 --> 0:12:18.600 they'll pay attention to us, as opposed to going back 0:12:18.640 --> 0:12:21.679 to the brand d n A and saying, who am I, 0:12:21.880 --> 0:12:24.120 what do I stand for? How do I show up? 0:12:24.200 --> 0:12:28.480 What do I offer? And what cultural moments do I 0:12:28.720 --> 0:12:32.240 belong in and building from there. So it's a mix, right, 0:12:32.360 --> 0:12:35.400 It's it's what cultural moments are important to my consumers, 0:12:35.559 --> 0:12:38.280 but what cultural moments are important to my consumers that 0:12:38.400 --> 0:12:42.360 also fit for me. It's really closer to product management 0:12:42.360 --> 0:12:45.360 in the sense of, yes, sure you do research and 0:12:45.400 --> 0:12:47.160 you know what the market needs, and you understand what 0:12:47.240 --> 0:12:49.679 competitors are offering, and you know what people are looking for. 0:12:50.080 --> 0:12:53.640 But you've got a really clear brand value proposition and 0:12:53.679 --> 0:12:57.559 you're clear where that belongs and where that doesn't, and 0:12:57.600 --> 0:13:02.920 you're willing to sacrifice some of the you know, constant 0:13:03.000 --> 0:13:08.440 running to have bigger impact in key moments. And I 0:13:08.480 --> 0:13:11.120 think that that's part of it too, that sure, there's 0:13:11.120 --> 0:13:13.160 an always on strategy and the media will always have 0:13:13.200 --> 0:13:16.040 a level of always on, but that you're really thinking 0:13:16.080 --> 0:13:20.280 about the cultural moments or the seasonal moments or the 0:13:20.320 --> 0:13:23.160 audience moments where you need to be there and how 0:13:23.200 --> 0:13:27.120 you show up there, and you're crafting and experience around 0:13:27.160 --> 0:13:31.600 that that your media and creative partners are helping you 0:13:31.679 --> 0:13:37.319 build soup nuts. I wish more media buyers, creative directors, 0:13:37.400 --> 0:13:41.040 chief creative officers would actually think of themselves and by 0:13:41.040 --> 0:13:46.480 the way, cmos would think of themselves as product marketers 0:13:46.520 --> 0:13:49.920 in the way you're talking about, because it actually upends 0:13:50.200 --> 0:13:53.080 the way you start to think about your media. It 0:13:53.160 --> 0:13:56.600 starts to become a playground where you can get so 0:13:56.679 --> 0:14:00.920 close to the consumer in visa V and text and 0:14:01.040 --> 0:14:05.080 visa VI really testing those different signals. Um that it 0:14:05.280 --> 0:14:09.080 actually just changes the whole kind of role of a 0:14:09.120 --> 0:14:12.679 media person, a media buyer or or a creative Well, 0:14:12.720 --> 0:14:15.560 and you just said something really important, right, the testing. 0:14:15.880 --> 0:14:17.880 I mean, let's keep building on the product analogy. Right, 0:14:18.000 --> 0:14:20.280 here's a prototype, here's an m v P. Let's put 0:14:20.320 --> 0:14:22.880 it out, Let's let's see how people react to it. 0:14:23.280 --> 0:14:25.320 Let's pull it back, maybe tweak it a little more. 0:14:25.640 --> 0:14:28.960 Now we're ready for our big launch. But this notion, 0:14:29.280 --> 0:14:30.840 and you know what it is, it's rooted in sort 0:14:30.840 --> 0:14:35.520 of twentieth century TV campaigns. We have the campaign tadah 0:14:36.320 --> 0:14:41.240 um versus real time data, analytics and learning that can 0:14:41.320 --> 0:14:45.400 let us constantly iterate and get smart. You know, it's 0:14:46.000 --> 0:14:49.360 thinking like a direct marketer, but not in the way 0:14:49.400 --> 0:14:52.720 that we think of that sort of brand and performance line. 0:14:53.520 --> 0:14:56.960 Is it performing from brand metrics, Is it performing from 0:14:56.960 --> 0:14:59.960 sales metrics? Is it performing from long term brand health metri? 0:15:00.520 --> 0:15:03.560 Is it performing in terms of next step of sales happening? 0:15:03.960 --> 0:15:07.320 And everybody in your organization, brand or demand needs to 0:15:07.320 --> 0:15:10.080 be incentive across all of those kpi s, so they're 0:15:10.120 --> 0:15:14.320 working together. How does this then potentially bring brand and 0:15:14.840 --> 0:15:18.400 direct response closer together? A few years ago we've talked 0:15:18.400 --> 0:15:20.720 about it. You know, when you think like this, it 0:15:20.800 --> 0:15:24.600 completely collapses the funnel. Is that what you're saying, and 0:15:24.600 --> 0:15:27.320 and how do you think about that and really guide 0:15:27.360 --> 0:15:31.360 your clients into um kind of that test and learned 0:15:31.440 --> 0:15:35.280 mindset collapse the funnel. I totally understand why people use 0:15:35.360 --> 0:15:40.080 that firm, but I think it's potentially dangerous because then 0:15:40.320 --> 0:15:44.840 the temptation is to turn every single add into a 0:15:44.880 --> 0:15:48.040 direct response add right, or try to cram that call 0:15:48.120 --> 0:15:51.280 to action in your brand campaign. I think that the 0:15:51.400 --> 0:15:56.480 real time nature of data and putting a dr message 0:15:56.520 --> 0:15:58.480 in a brand message out in the same place and 0:15:58.560 --> 0:16:01.800 testing and seeing which one people engaging with, which one's 0:16:01.880 --> 0:16:04.480 working for you, which one is getting the next thing 0:16:04.520 --> 0:16:08.960 to happen. And you know, constantly running your brand health 0:16:09.040 --> 0:16:12.440 metrics so you make sure you're not undercutting your brands 0:16:12.520 --> 0:16:16.080 to drive sales, Constantly running your sales metrics and making 0:16:16.120 --> 0:16:19.120 sure that you're getting getting the sales numbers you need. 0:16:20.000 --> 0:16:26.960 So it's it's more subtle in the sense of understanding 0:16:27.000 --> 0:16:30.120 what each medium is best at, but then testing that 0:16:30.240 --> 0:16:34.520 hypothesis constantly. Um, so you're testing like a direct marketer. 0:16:35.120 --> 0:16:38.240 But that doesn't mean everything is a direct marketing message. 0:16:38.440 --> 0:16:42.560 So Lisa, three things just to recap this conversation that 0:16:42.680 --> 0:16:47.760 marketers need in their contextual toolbox, connecting media and creativity, 0:16:48.680 --> 0:16:53.240 finding moments of serendipity, and common sense. How is yield 0:16:53.320 --> 0:16:57.600 MO helping advertisers achieve one, two, or all three of 0:16:57.640 --> 0:17:05.120 those things to get started on the roadmap to contextual reimagined. Absolutely, Uh, 0:17:05.160 --> 0:17:07.600 you know the easiest way to get started is to 0:17:07.680 --> 0:17:09.720 start now. And I think the common sense part of 0:17:09.760 --> 0:17:13.080 this is starting to test and learn the reimagining context 0:17:13.160 --> 0:17:17.080 rule and what that means. We have pre curated deals 0:17:17.080 --> 0:17:21.440 that can be bought through your your trading desk and 0:17:21.600 --> 0:17:24.000 can quickly be executed, So you can start to get 0:17:24.040 --> 0:17:27.040 that data, you can start getting reporting, you can start 0:17:27.080 --> 0:17:31.119 to understand how we're reimagining context rule the signals that 0:17:31.160 --> 0:17:34.560 are available, and you can start imagining for your own 0:17:34.560 --> 0:17:37.080 company all the ways that those signals could be used 0:17:37.160 --> 0:17:39.760 to guide your marketing effort. You know, that's just one 0:17:39.760 --> 0:17:41.639 of many ways to start. I love to talk to 0:17:41.640 --> 0:17:44.240 about dynamic content a bunch of other things, but let's 0:17:44.280 --> 0:17:47.199 start there. Lisa, thank you so much for joining us. 0:17:47.440 --> 0:17:49.080 Thank you so much to you and the team at 0:17:49.160 --> 0:17:52.800 yield Mo for this conversation and for supporting Atlantia. Thank 0:17:52.840 --> 0:18:00.119 you so much for having me. It's always fun. M 0:18:04.240 --> 0:18:07.919 Welcome back at Lantia. We have a good friend and 0:18:08.000 --> 0:18:12.760 a third time at Landia guest, Jared Dicker, the general 0:18:12.800 --> 0:18:19.440 Partner at Cherning Group BCG. Welcome back, Jared. Hello, great 0:18:19.480 --> 0:18:23.280 to be here. So Jared, you have had this unlikely, 0:18:23.520 --> 0:18:27.960 very nonlinear career. You started at out as a journalist, 0:18:29.080 --> 0:18:35.639 You ran technology UH and the whole innovation advertising group 0:18:35.880 --> 0:18:39.120 at Washington Post. You went over to be the founding 0:18:39.200 --> 0:18:42.600 CEO of poet, a block chain startup that was looking 0:18:42.640 --> 0:18:49.120 at how decentralization and journalism and blockchain was going to work. 0:18:49.200 --> 0:18:52.840 And now now you're leading the crypto practice for the 0:18:52.920 --> 0:18:58.760 Churning Group. How did you get here? It's um uh? 0:18:58.840 --> 0:19:02.120 I mean, how do I describe? I like very much 0:19:02.160 --> 0:19:05.960 accidentally have fallen into all of these different jobs that 0:19:06.000 --> 0:19:09.960 have been extremely fun. Um. You know, as you mentioned, 0:19:09.960 --> 0:19:12.119 I started as a music journalist. I'm a I'm a 0:19:12.200 --> 0:19:14.800 huge music head, and you know, it was pretty sure 0:19:14.840 --> 0:19:16.920 that that was going to be my life. And accidentally 0:19:16.960 --> 0:19:19.000 got a job at the Hufbon and Post off Craigslist 0:19:19.080 --> 0:19:22.960 and found, you know, found it so exciting to be 0:19:23.000 --> 0:19:27.919 building that's a new fact. I didn't know it was Craigslist. Yeah, 0:19:28.040 --> 0:19:30.440 I mean, and and like this wasn't even too long ago. 0:19:30.520 --> 0:19:32.600 Like I worked at the Huffing and Post in two 0:19:32.600 --> 0:19:37.200 thousand and ten, two thousen so um people were still 0:19:37.240 --> 0:19:39.240 I guess looking for jobs off Craigslist then, or I 0:19:39.280 --> 0:19:41.880 just didn't know what I was doing. But I ended 0:19:41.920 --> 0:19:44.199 up at the Huffing and Post and really just started 0:19:44.240 --> 0:19:45.840 to fall in love with the business side of media. 0:19:45.920 --> 0:19:48.160 Found that it was a pretty low bar, I'm sure 0:19:48.280 --> 0:19:51.159 many of the people who listened to this show listened 0:19:51.160 --> 0:19:53.000 to the show in order to be inspired and kind 0:19:53.040 --> 0:19:55.000 of think about how to lift that bar. And I 0:19:55.080 --> 0:19:58.080 just found that to be a very like liberating, amazing experience, 0:19:58.080 --> 0:20:01.520 so stayed in media for a while. UM My venture 0:20:01.560 --> 0:20:04.359 into blockchain the first time was really a result of 0:20:04.440 --> 0:20:06.920 kind of things that I was seeing in the media business. 0:20:07.240 --> 0:20:10.520 Um you know, very obvious ones like big news and 0:20:10.600 --> 0:20:13.959 deep bigs, but even more so, like the sentiment that 0:20:14.000 --> 0:20:17.320 many media companies have, which is their content is valuable, 0:20:17.359 --> 0:20:20.840 they invest talent, it's better than their competitors. But when 0:20:20.840 --> 0:20:24.040 you looked at the um all the business models that 0:20:24.080 --> 0:20:26.720 reward that content, it's all effectively the same. Like a 0:20:26.760 --> 0:20:30.520 three million dollar investigative journalism piece from the New York 0:20:30.520 --> 0:20:34.399 Times could render the same financial results as a buzz feed, 0:20:34.600 --> 0:20:38.320 you know, viralistical article, even though so much money was 0:20:38.320 --> 0:20:41.200 put into one and barely any investment was going into 0:20:41.240 --> 0:20:44.560 the other. So that was kind of the main um 0:20:44.760 --> 0:20:48.600 patalyst for me wanting to get into blockchain. The technology was, well, 0:20:48.600 --> 0:20:51.400 what if all digital content starts to go on chain? 0:20:51.480 --> 0:20:53.920 And what are really cool things that we can do 0:20:54.720 --> 0:20:57.960 both in terms of leveraging provenance but also ownership and 0:20:58.000 --> 0:21:01.359 control to kind of put more value on creative works 0:21:02.240 --> 0:21:06.200 way too early, UM, but really kind of got me, UM, 0:21:06.400 --> 0:21:08.840 got me obsessed with this space. And now you know, 0:21:08.880 --> 0:21:12.800 I've been at Turning Group for about five six months. UM. 0:21:12.840 --> 0:21:14.800 I get to work with all of these founders that 0:21:14.840 --> 0:21:17.000 are now building you know, many of what you're building 0:21:17.000 --> 0:21:19.679 on that vision or aligned with that vision that you know, 0:21:19.760 --> 0:21:23.720 poet poet like originally seeked out to to solve. And 0:21:24.320 --> 0:21:27.520 it's been absolutely phenomenal. And I'm I like love people 0:21:27.840 --> 0:21:30.359 and love hanging out with people, and I'm extremely eight peeks. 0:21:30.400 --> 0:21:32.320 So there's no better job for me than to work 0:21:32.359 --> 0:21:36.120 with a million companies at once, So, Jared, so much 0:21:36.119 --> 0:21:39.600 of the hype, intrigue, and interest around Web three is 0:21:39.600 --> 0:21:42.679 seemingly coming at us from all angles, very very heavy 0:21:42.720 --> 0:21:46.520 in Twitter and following, certainly your Twitter handle, which if 0:21:46.520 --> 0:21:49.960 you're not following at Jared Dicker. There's so much Web 0:21:50.000 --> 0:21:53.320 two to Web three insight knowledge being dropped. But let's 0:21:53.440 --> 0:21:56.320 go to the one oh one Can you take us too? 0:21:56.480 --> 0:22:00.639 And its most simplistic form, the definition or at least 0:22:00.680 --> 0:22:05.800 the fundamental principles of Web three. What do we need 0:22:05.840 --> 0:22:08.199 to abandon or or build from in Web two to 0:22:08.280 --> 0:22:12.440 really understand the power and impact of Web three. Yeah. 0:22:12.480 --> 0:22:14.800 So one thing I'll start with, since this is at 0:22:14.880 --> 0:22:17.000 Landia and there's a lot of marketers that listen to this, 0:22:17.080 --> 0:22:19.000 is that I think I think we're hearing a lot 0:22:19.000 --> 0:22:22.399 more about web free because it is such a better 0:22:22.640 --> 0:22:26.800 brand and name to market than crypto and blockchain for 0:22:26.880 --> 0:22:29.560 the masses. You know, Web three has been a term 0:22:29.600 --> 0:22:32.320 that's been thrown around, and there's you know, there's there's 0:22:32.359 --> 0:22:36.360 some people that argue that we're we're not in Web three, 0:22:36.400 --> 0:22:38.720 We're in Web four, you know, blah blah blah. But 0:22:38.760 --> 0:22:41.840 like putting that all aside, I think Web three as 0:22:41.880 --> 0:22:45.440 a um, as a description and as a marketing term 0:22:45.680 --> 0:22:49.119 to describe what's happening as really stuck. And you know, 0:22:49.160 --> 0:22:51.560 it's kind of become a bit obvious when people are 0:22:51.600 --> 0:22:54.560 looking at differentiation and the evolution of how we're moving 0:22:54.600 --> 0:22:59.240 from you know, social mobile web into blockchain has been 0:22:59.240 --> 0:23:01.320 something that's really stock. So I think that that's been 0:23:01.359 --> 0:23:04.280 a great marketing victory UM and one that I've been 0:23:04.359 --> 0:23:07.720 leveraging and leading on very heavily as well. UM. The 0:23:07.760 --> 0:23:09.440 ways that kind of like there's a bunch of different 0:23:09.440 --> 0:23:11.840 directions really think about Web three, but the biggest I 0:23:11.880 --> 0:23:16.440 think is um this bottoms up approach versus top down approach. 0:23:16.560 --> 0:23:18.720 So when you think about media, I think it's a 0:23:18.760 --> 0:23:21.840 great way to UM kind of really visualize this is 0:23:21.880 --> 0:23:24.000 that you know, media for the past five years on 0:23:24.000 --> 0:23:26.560 the Internet has been really top down, right, it's the 0:23:26.600 --> 0:23:31.560 brand and you know, the brand owned distribution at one point, 0:23:31.720 --> 0:23:35.119 you know, helps manage the audience, provides content and programming 0:23:35.119 --> 0:23:39.000 that keeps people engaged, UM. But the relationship with the 0:23:39.000 --> 0:23:42.120 consumer or the reader or the user UM is very 0:23:42.160 --> 0:23:45.040 transactional and kind of one side. It's like you either 0:23:45.160 --> 0:23:48.520 pay for content with money through a subscription and you 0:23:48.600 --> 0:23:51.080 get access to it and it kind of ends there. 0:23:51.240 --> 0:23:53.639 Or you know, you get content for free by means 0:23:53.680 --> 0:23:57.000 of attention and advertising and the content is there, but 0:23:57.000 --> 0:24:01.480 there's really been like no strong benefit for uh, the 0:24:01.520 --> 0:24:04.760 individual consumer and reader beyond the programming and content itself. 0:24:04.800 --> 0:24:07.600 And that's because of this top down approach. And Web 0:24:07.640 --> 0:24:10.240 three is really leaning it on this bottom stuff approach. 0:24:10.600 --> 0:24:12.919 So a great way to really kind of visualize this 0:24:13.000 --> 0:24:16.480 as well is UM if you write for sub stack 0:24:16.920 --> 0:24:20.320 In Web two, you're writing on a platform. You know, 0:24:20.400 --> 0:24:24.840 you have a newsletter, Uh, you are um making money, 0:24:25.000 --> 0:24:27.479 you know, or driving subscriptions off of your newsletter. So 0:24:27.560 --> 0:24:29.800 Jared Dicker has a newsletter, He's making money off it. 0:24:30.320 --> 0:24:32.800 You know. I'm like, I kind of want substack to succeed, 0:24:32.880 --> 0:24:35.880 but I'm pretty indifferent, right because I'm not really incentivized. 0:24:36.040 --> 0:24:39.000 Like if substack doesn't exist tomorrow, I can move my 0:24:39.080 --> 0:24:42.840