1 00:00:01,120 --> 00:00:09,880 Speaker 1: You can't play around. On this episode of the Taking 2 00:00:09,920 --> 00:00:13,399 Speaker 1: a Walk podcast series, I'm your host Buzznight, and we're 3 00:00:13,400 --> 00:00:16,400 Speaker 1: in Chicago, Illinois for a special road trip edition of 4 00:00:16,480 --> 00:00:19,480 Speaker 1: Taking a Walk. I'm here near the famous Lake Shore 5 00:00:19,560 --> 00:00:24,920 Speaker 1: Drive area to meet with an inspirational figure. Rashad Tobakawala 6 00:00:25,480 --> 00:00:28,840 Speaker 1: is our guests. I consider him a business and personal 7 00:00:28,920 --> 00:00:32,560 Speaker 1: growth Buddha for The Times. He's the author of Restoring 8 00:00:32,600 --> 00:00:36,159 Speaker 1: the Soul of Business, Staying Human in the Age of Data. 9 00:00:36,320 --> 00:00:38,960 Speaker 1: He also has a very popular blog that we look 10 00:00:39,000 --> 00:00:41,839 Speaker 1: forward to every Sunday that comes out. It's called The 11 00:00:41,880 --> 00:00:45,040 Speaker 1: Future Does Not Fit in the Containers of the Past. 12 00:00:45,479 --> 00:00:49,200 Speaker 1: I highly recommend you subscribe to that and I can't 13 00:00:49,240 --> 00:00:53,560 Speaker 1: wait to take a walk with Rashad. Taking a Walk 14 00:00:53,600 --> 00:00:58,120 Speaker 1: with Busnight. Well, Hi, Rashad, it's so nice to us 15 00:00:58,120 --> 00:01:01,800 Speaker 1: see you again and to be in the city of Chicago, 16 00:01:02,040 --> 00:01:05,039 Speaker 1: Illinois taking a walk with you. Absolutely And here we 17 00:01:05,120 --> 00:01:08,840 Speaker 1: are walking along the beach Ohio Street, beach along Lake 18 00:01:08,880 --> 00:01:15,280 Speaker 1: Shore Drive. So describe this lovely scenior. So we are 19 00:01:15,319 --> 00:01:19,560 Speaker 1: in downtown Chicago. And for those of you who have 20 00:01:19,640 --> 00:01:24,120 Speaker 1: been to Chicago, Chicago is defined by one way you 21 00:01:24,160 --> 00:01:27,080 Speaker 1: think about it. Is its flatness. But the other way 22 00:01:27,280 --> 00:01:31,560 Speaker 1: is it's very tall buildings, it's river, and most importantly 23 00:01:31,600 --> 00:01:36,000 Speaker 1: it's lake, which is Lake Michigan. And because Lake Michigan 24 00:01:36,120 --> 00:01:40,839 Speaker 1: is so large, you have waves, as we can see, 25 00:01:40,880 --> 00:01:46,240 Speaker 1: and you have beaches. And basically we are looking at 26 00:01:46,280 --> 00:01:50,400 Speaker 1: a beach which is Ohio Street Beach. There are a 27 00:01:50,400 --> 00:01:56,640 Speaker 1: few boats, one with a little rowboat building I guess 28 00:01:56,640 --> 00:01:59,440 Speaker 1: a life guard and a few other boats. Who gets 29 00:01:59,440 --> 00:02:04,600 Speaker 1: a looking day. And we're hearing the hum of cause 30 00:02:06,200 --> 00:02:09,919 Speaker 1: on Lake Shaw Drive and that's where we are. And 31 00:02:09,960 --> 00:02:12,919 Speaker 1: it's right across Navy br for those of you who 32 00:02:12,919 --> 00:02:17,280 Speaker 1: know Chicago Hatta, and we see the Ferris Field. So 33 00:02:17,600 --> 00:02:20,639 Speaker 1: I have to thank you for some of the inspiration 34 00:02:21,080 --> 00:02:24,000 Speaker 1: of the creation of the Taken a Lot podcast series. 35 00:02:24,400 --> 00:02:27,919 Speaker 1: I was here in Chicago in August. Then I got 36 00:02:27,919 --> 00:02:32,639 Speaker 1: to see you and have an adult beverage and we 37 00:02:32,680 --> 00:02:34,760 Speaker 1: talked about a number of things. And one of the 38 00:02:34,840 --> 00:02:38,120 Speaker 1: things that you sent me on a homework assignment, and 39 00:02:38,240 --> 00:02:42,880 Speaker 1: it was a homework assignment specifically around a number of 40 00:02:43,040 --> 00:02:47,240 Speaker 1: questions and I believe nine of them, yes, right, And 41 00:02:47,520 --> 00:02:50,120 Speaker 1: why don't you tell folks about the nine questions? And 42 00:02:50,160 --> 00:02:52,200 Speaker 1: then I can sort of loop it back to how 43 00:02:52,560 --> 00:02:56,680 Speaker 1: it motivated me. Absolutely. So. One of the key things 44 00:02:56,880 --> 00:03:01,040 Speaker 1: that we discussed at which I have written about, is 45 00:03:01,080 --> 00:03:04,959 Speaker 1: that every one of us, over time does a couple 46 00:03:05,000 --> 00:03:08,840 Speaker 1: of things. One is, we evolve and we grow and 47 00:03:08,880 --> 00:03:14,280 Speaker 1: we have career transitions. But eventually we want to come 48 00:03:14,400 --> 00:03:18,160 Speaker 1: up with nine words that describe who we are, and 49 00:03:18,320 --> 00:03:21,480 Speaker 1: three words that describe our niche, which is what are 50 00:03:21,520 --> 00:03:25,400 Speaker 1: we good at? Three words that describe our voice, which 51 00:03:25,440 --> 00:03:29,600 Speaker 1: is who we are, and three words that describe our story, 52 00:03:29,880 --> 00:03:35,080 Speaker 1: which is why should someone believe that? And those nine 53 00:03:35,120 --> 00:03:38,600 Speaker 1: words can be used as a framing device, so as 54 00:03:38,640 --> 00:03:41,960 Speaker 1: we are going around trying to decide what we want 55 00:03:42,000 --> 00:03:45,640 Speaker 1: to do, how we sell ourselves, that's what we are 56 00:03:45,640 --> 00:03:47,880 Speaker 1: looking at it. And the other way is as a 57 00:03:47,920 --> 00:03:51,000 Speaker 1: filtering device, which is how do we spend our time 58 00:03:51,840 --> 00:03:54,240 Speaker 1: and what makes us happy? If these are the nine 59 00:03:54,280 --> 00:03:56,960 Speaker 1: words that we happen to be to finding down to, 60 00:03:58,200 --> 00:04:01,440 Speaker 1: and you know, I did those nine words, and I've 61 00:04:01,480 --> 00:04:03,400 Speaker 1: been doing those nine words, and my nine words have 62 00:04:03,520 --> 00:04:08,520 Speaker 1: now sort of been not changing for a while. But 63 00:04:08,840 --> 00:04:11,480 Speaker 1: three of them, which are my niche are future change 64 00:04:11,520 --> 00:04:17,479 Speaker 1: and innovation. That's what I'm good at. But then who 65 00:04:17,480 --> 00:04:21,080 Speaker 1: am I, And there you ask people and ask them 66 00:04:21,080 --> 00:04:23,479 Speaker 1: to come up with words that describe who you are, 67 00:04:24,160 --> 00:04:28,000 Speaker 1: more importantly, what your voice is. And so mine apparently 68 00:04:28,040 --> 00:04:32,920 Speaker 1: is authentic, inspirational and provocative. And then what's your story, 69 00:04:33,160 --> 00:04:35,880 Speaker 1: which is why should we believe you? And mine is 70 00:04:35,920 --> 00:04:38,360 Speaker 1: a global story. I grew up in one country, work 71 00:04:38,400 --> 00:04:42,880 Speaker 1: in another for really the headquarters in a third. I 72 00:04:42,960 --> 00:04:47,240 Speaker 1: used to travel a lot, says global. I'm a mongrel 73 00:04:47,320 --> 00:04:49,920 Speaker 1: in the fact that I've done a creative media, digital 74 00:04:49,960 --> 00:04:54,520 Speaker 1: and analog staff and operating roles, so I'm not a 75 00:04:54,520 --> 00:04:59,520 Speaker 1: pure breed, and I'm a reinventor. Or it looks like 76 00:04:59,680 --> 00:05:01,839 Speaker 1: either lose my job every three years or do a 77 00:05:01,880 --> 00:05:04,200 Speaker 1: new gig that's stayed in the same company for thirty seven. 78 00:05:04,640 --> 00:05:06,400 Speaker 1: But it looks like every day I do gig every 79 00:05:06,400 --> 00:05:10,400 Speaker 1: three four years after the first eight ten, So that's reinventing. 80 00:05:10,480 --> 00:05:13,480 Speaker 1: So my nine words are future change, innervation, my voice 81 00:05:13,520 --> 00:05:19,720 Speaker 1: is authentic, provocative, inspirational, and my story is reinventing and global. 82 00:05:20,000 --> 00:05:24,320 Speaker 1: And among them, and with those nine words, you can 83 00:05:24,360 --> 00:05:26,599 Speaker 1: do a lot. Now in my particular case, I've actually 84 00:05:26,640 --> 00:05:29,760 Speaker 1: come down to one world. So among each of the 85 00:05:29,839 --> 00:05:34,760 Speaker 1: first three, I use future. The next three I use provocative, 86 00:05:34,760 --> 00:05:37,920 Speaker 1: and the last three I use reinventing. So my step 87 00:05:37,960 --> 00:05:43,680 Speaker 1: is future change, innovation. Future describes at best, authentic, provocative, inspirational. 88 00:05:43,800 --> 00:05:48,000 Speaker 1: Probably I question the status quo, so that's provocative, and 89 00:05:48,080 --> 00:05:51,720 Speaker 1: of the other three, it's reinventing. And if I were 90 00:05:51,760 --> 00:05:53,600 Speaker 1: to come up with one word, which you don't have to, 91 00:05:53,720 --> 00:05:56,839 Speaker 1: it would be reinventing because reinventing is about the future, 92 00:05:56,920 --> 00:06:00,560 Speaker 1: it's about challenging the status quare, and it's about change. 93 00:06:00,720 --> 00:06:03,320 Speaker 1: So that's where I suggested you do it to the 94 00:06:03,440 --> 00:06:07,120 Speaker 1: nine word exercise, and I'll always suggest to anybody as 95 00:06:07,160 --> 00:06:09,640 Speaker 1: they are figuring out what next to do or what 96 00:06:09,760 --> 00:06:12,800 Speaker 1: to do better. Well, I don't know if I did 97 00:06:12,839 --> 00:06:15,839 Speaker 1: it as precisely as you, first of all, and I 98 00:06:15,880 --> 00:06:18,279 Speaker 1: don't know if I did it with as much certainty 99 00:06:18,440 --> 00:06:21,680 Speaker 1: issue because it shifts and changes exists. But what led 100 00:06:21,760 --> 00:06:24,359 Speaker 1: me to the Take It to Wall podcast was the 101 00:06:24,440 --> 00:06:29,360 Speaker 1: fact of certainly where I thought my voice was, it 102 00:06:29,400 --> 00:06:33,560 Speaker 1: was around content and creation. That's where I came out 103 00:06:33,600 --> 00:06:36,640 Speaker 1: of and that's what we discussed over Albers. That's right, yep. 104 00:06:36,880 --> 00:06:41,200 Speaker 1: So as I was walking fifteen miles that particular day, 105 00:06:41,360 --> 00:06:46,080 Speaker 1: thirty thousand plus steps in Chicago. I just started thinking 106 00:06:47,600 --> 00:06:53,320 Speaker 1: around storytelling, around that voice. A love that I've always 107 00:06:53,320 --> 00:06:58,000 Speaker 1: had has been interviewing people throughout my career, and I 108 00:06:58,040 --> 00:07:00,320 Speaker 1: actually I don't know if I had told it on 109 00:07:00,440 --> 00:07:04,520 Speaker 1: our visit, but I read this book called Decoding Greatness, 110 00:07:04,800 --> 00:07:08,720 Speaker 1: which was about reverse engineering ideas. So there I am 111 00:07:09,080 --> 00:07:14,960 Speaker 1: strolling the streets of Chicago thinking comedians and cars getting 112 00:07:15,000 --> 00:07:19,440 Speaker 1: coffee is not just about cars and coffee. It's about 113 00:07:19,440 --> 00:07:25,360 Speaker 1: this amazing host in Jerry Seinfeld having conversation with people. 114 00:07:25,440 --> 00:07:30,400 Speaker 1: So I love conversation. I love the genuineness of it, 115 00:07:30,640 --> 00:07:34,120 Speaker 1: whether it's new friends or whether it's old friends, and 116 00:07:34,160 --> 00:07:36,800 Speaker 1: that's what led me down this path. So thank you 117 00:07:36,880 --> 00:07:42,040 Speaker 1: for pushing me into this journey. Well I'm glad you 118 00:07:42,120 --> 00:07:44,680 Speaker 1: look very happy doing it, and it clearly is one 119 00:07:44,680 --> 00:07:48,600 Speaker 1: of your key, you know, traits, And the good news 120 00:07:48,680 --> 00:07:51,400 Speaker 1: is I get to be a guest, so that's even greater, terrific. 121 00:07:51,520 --> 00:07:56,680 Speaker 1: So thank you. So since we last met, what's going on, 122 00:07:56,880 --> 00:07:59,840 Speaker 1: as far as you can see in the media landscape, 123 00:08:00,000 --> 00:08:03,240 Speaker 1: what is happening around media? So I think there are 124 00:08:03,320 --> 00:08:06,160 Speaker 1: three very big shifts going on in the media landscape, 125 00:08:06,200 --> 00:08:10,040 Speaker 1: which are building on shifts that occurred before. So one 126 00:08:10,120 --> 00:08:17,960 Speaker 1: is clearly almost all media is increasingly becoming digital and streaming. 127 00:08:18,400 --> 00:08:22,480 Speaker 1: You saw that. It doesn't mean it's the majority. The 128 00:08:22,480 --> 00:08:25,960 Speaker 1: majority of radio still is not streaming, but there's a 129 00:08:26,040 --> 00:08:29,200 Speaker 1: more and more streaming component to it. And you know 130 00:08:29,240 --> 00:08:33,120 Speaker 1: that could be everything from each of the radio stations 131 00:08:33,160 --> 00:08:38,280 Speaker 1: have a streaming component. You have Spotify, you have YouTube music, 132 00:08:38,520 --> 00:08:42,480 Speaker 1: you've got title et cetera. The same thing happens. But 133 00:08:43,400 --> 00:08:46,320 Speaker 1: you know, if you think about it, yes, Netflix stock fell, 134 00:08:46,840 --> 00:08:49,920 Speaker 1: but one of the reasons it fell is because there 135 00:08:49,920 --> 00:08:53,079 Speaker 1: are now ten or fifteen options. You have the size Netflix, 136 00:08:53,760 --> 00:08:58,240 Speaker 1: and you know you can decide ue Netflix this month 137 00:08:58,360 --> 00:09:02,560 Speaker 1: us strange of things, and next month I'll do Disney 138 00:09:02,640 --> 00:09:05,720 Speaker 1: plus for Obi van Kenobi, even though they both occurred 139 00:09:05,720 --> 00:09:07,600 Speaker 1: this month. So you have to give up maybe something 140 00:09:07,640 --> 00:09:13,120 Speaker 1: else and so streaming. The second one, which I think 141 00:09:14,520 --> 00:09:20,720 Speaker 1: people are not appreciating as much is that the person 142 00:09:20,720 --> 00:09:26,480 Speaker 1: who is their content creator is changing. So you obviously 143 00:09:26,600 --> 00:09:29,640 Speaker 1: were in the content side of the radio business, so 144 00:09:29,760 --> 00:09:34,880 Speaker 1: you have acumen in content, but because you were working 145 00:09:35,200 --> 00:09:38,320 Speaker 1: in a radio place, you actually had ability to distribute. 146 00:09:38,400 --> 00:09:41,320 Speaker 1: But if you were not, you could be a content creator, 147 00:09:41,360 --> 00:09:44,840 Speaker 1: but nobody would hear you, or listen to you or 148 00:09:44,880 --> 00:09:48,439 Speaker 1: read you because there was no way. The closest that 149 00:09:48,440 --> 00:09:51,360 Speaker 1: anyone got to sharing their viewpoint was writing letters to 150 00:09:51,400 --> 00:09:55,680 Speaker 1: the editor right or calling into a radio show. There 151 00:09:55,720 --> 00:09:59,080 Speaker 1: wasn't any other way. That obviously changed with the Web, 152 00:09:59,440 --> 00:10:03,360 Speaker 1: and definitely we went social and mobile to golf and 153 00:10:03,400 --> 00:10:08,400 Speaker 1: now I remind people that, but the you know, the 154 00:10:08,559 --> 00:10:13,440 Speaker 1: Coundation sisters of Instagram and Mister Beast of YouTube, and 155 00:10:13,480 --> 00:10:17,840 Speaker 1: the Malio sisters or Themelio sisters of TikTok reach more 156 00:10:17,920 --> 00:10:19,760 Speaker 1: people in a day or two than the people who 157 00:10:19,760 --> 00:10:23,400 Speaker 1: watch the Super Bowl. So the question really comes up 158 00:10:23,440 --> 00:10:27,600 Speaker 1: to be who is a content creator right now? I 159 00:10:27,679 --> 00:10:30,720 Speaker 1: used to write presentations and I used to write perspectives 160 00:10:30,760 --> 00:10:34,120 Speaker 1: inside my company, but over the last two years, I've 161 00:10:34,160 --> 00:10:38,120 Speaker 1: been writing it on substat and you know, I'm a 162 00:10:38,160 --> 00:10:40,880 Speaker 1: small content creator, but it's read by about twenty five 163 00:10:40,920 --> 00:10:44,000 Speaker 1: thousand people, including you who are a big fan. So 164 00:10:44,080 --> 00:10:46,960 Speaker 1: I've become a little content company. So that's the second 165 00:10:47,000 --> 00:10:49,480 Speaker 1: big shift. One is everything's going streaming, so it's much 166 00:10:49,520 --> 00:10:53,640 Speaker 1: more on demand and time shifted. The other is everybody 167 00:10:53,679 --> 00:10:55,679 Speaker 1: can be a content creator. Obviously, some of them are 168 00:10:55,679 --> 00:11:00,640 Speaker 1: not so good, but everybody has somebody. And the third one, 169 00:11:01,160 --> 00:11:04,160 Speaker 1: which people are not anticipating as much, and it's got 170 00:11:04,200 --> 00:11:08,160 Speaker 1: to do something with both digital technology and content creation, 171 00:11:09,200 --> 00:11:11,680 Speaker 1: is what the impact of what I call the future 172 00:11:11,720 --> 00:11:15,480 Speaker 1: of the Internet, which is Web three. So a lot 173 00:11:15,520 --> 00:11:18,920 Speaker 1: of people today are confusing Web three and saying, Okay, 174 00:11:18,920 --> 00:11:23,840 Speaker 1: it's about cryptocurrencies or NFTs. That's part of it. But 175 00:11:23,920 --> 00:11:28,800 Speaker 1: the underlying philosophy of Web three is to try to 176 00:11:28,840 --> 00:11:34,320 Speaker 1: give more control and power and monetization opportunities to the 177 00:11:34,360 --> 00:11:37,720 Speaker 1: people who consume the content and people who create the content, 178 00:11:38,320 --> 00:11:41,880 Speaker 1: and a little bit less to the people who enable them. 179 00:11:42,120 --> 00:11:45,000 Speaker 1: So the enablers are today called aggregators. You know, it 180 00:11:45,040 --> 00:11:50,720 Speaker 1: could be Spotify, it could be Apple, you know iTunes 181 00:11:50,720 --> 00:11:55,840 Speaker 1: store or you know the Apple app Store. So the 182 00:11:55,880 --> 00:12:03,079 Speaker 1: Apple app Store takes thirty cents of every day, So 183 00:12:04,240 --> 00:12:07,560 Speaker 1: it could be me creating the content the people have 184 00:12:07,600 --> 00:12:11,480 Speaker 1: come to listen to me, But thirty sense goes to 185 00:12:11,559 --> 00:12:17,880 Speaker 1: happen because of old recording rules. It's not just Spotify sport, 186 00:12:17,960 --> 00:12:22,400 Speaker 1: but because of old recording and other rules. It basically 187 00:12:22,960 --> 00:12:26,760 Speaker 1: a dollar that goes to Spotify if you happen to 188 00:12:26,800 --> 00:12:30,440 Speaker 1: be a musician. If you've only performed the song, you 189 00:12:30,480 --> 00:12:33,960 Speaker 1: get six sets. If you own the song, which is 190 00:12:34,120 --> 00:12:36,480 Speaker 1: you wrote the song and you perform the song, you 191 00:12:36,520 --> 00:12:40,400 Speaker 1: get twelve cents. So eighty eight cents goes to other people. 192 00:12:43,520 --> 00:12:47,319 Speaker 1: So the new world and people can see it if 193 00:12:47,320 --> 00:12:48,920 Speaker 1: you don't believe it. If you've got to a place 194 00:12:48,960 --> 00:12:52,680 Speaker 1: called Royal dot Io or autograph dot Io, so Royal 195 00:12:52,720 --> 00:12:56,040 Speaker 1: dot Iowa is where the musicians hang out. Autograph dot 196 00:12:56,080 --> 00:13:03,520 Speaker 1: ioways where the sports people hang out. There, someone like 197 00:13:03,720 --> 00:13:07,600 Speaker 1: Little Nass will give you the rights, will sell you 198 00:13:07,720 --> 00:13:10,880 Speaker 1: some component of the rights to his songs, so you'll 199 00:13:11,280 --> 00:13:15,600 Speaker 1: share in his royalties tymini beni bit. You pay him 200 00:13:15,600 --> 00:13:18,160 Speaker 1: a little bit and you own a percentage of his 201 00:13:18,640 --> 00:13:23,880 Speaker 1: future that song future royalties. What's great about that is 202 00:13:23,960 --> 00:13:26,560 Speaker 1: as you now are a partial owner of the song, 203 00:13:26,640 --> 00:13:30,079 Speaker 1: you're a fan of Little Nass, and he invites you, 204 00:13:30,480 --> 00:13:33,280 Speaker 1: depending on how much you buy two concerts to meet 205 00:13:33,280 --> 00:13:36,240 Speaker 1: with him, etc. But as you basically say, this is 206 00:13:36,280 --> 00:13:38,800 Speaker 1: a great song and you're a big fan, the more 207 00:13:38,840 --> 00:13:41,440 Speaker 1: successful he gets, the more successful you get. And there's 208 00:13:41,440 --> 00:13:47,080 Speaker 1: almost nobody in the middle. And that is revolutionary because 209 00:13:47,080 --> 00:13:51,000 Speaker 1: it's about a decentralized, own much more ownership, so much 210 00:13:51,040 --> 00:13:55,760 Speaker 1: more decentralized, much more open, and much more composable and 211 00:13:55,800 --> 00:14:02,120 Speaker 1: controlled by the content creator. That world, right, plus new 212 00:14:02,160 --> 00:14:06,600 Speaker 1: content creators plus streaming is going to change media. And 213 00:14:06,640 --> 00:14:08,480 Speaker 1: we're only at the beginning. They only at the beginning, 214 00:14:08,559 --> 00:14:11,440 Speaker 1: like really the infant stages. Yes, you see the real 215 00:14:11,440 --> 00:14:14,720 Speaker 1: impact in three years, but it will be amazing. I 216 00:14:14,720 --> 00:14:19,240 Speaker 1: mean the reality of it is, why do the middle 217 00:14:19,240 --> 00:14:21,520 Speaker 1: people like, let's even look at something like a Facebook. 218 00:14:23,680 --> 00:14:30,520 Speaker 1: You take to Facebook your identity, your data, your content, 219 00:14:31,480 --> 00:14:38,080 Speaker 1: your friends, your time. What do you get? You get? 220 00:14:39,880 --> 00:14:41,600 Speaker 1: You get to see what your other friends are doing, 221 00:14:42,520 --> 00:14:46,760 Speaker 1: and you get likes. And Mark Zuckerberg keeps buying islands 222 00:14:46,760 --> 00:14:52,240 Speaker 1: in Hawaii? What's that all about? Right? That revolution is coming? 223 00:14:52,280 --> 00:14:56,400 Speaker 1: And the young generation says no more. And that's where 224 00:14:56,400 --> 00:14:59,040 Speaker 1: I'm now going to boards and saying, you're about to 225 00:14:59,080 --> 00:15:02,720 Speaker 1: see a revolution just certaine content, which is, if it's 226 00:15:02,800 --> 00:15:06,520 Speaker 1: my network, I can reach people, I can use Tooken economics, 227 00:15:06,600 --> 00:15:10,040 Speaker 1: I can do different things. Why does the man or 228 00:15:10,040 --> 00:15:14,440 Speaker 1: the woman take so much? So? How are the boards responding? 229 00:15:14,560 --> 00:15:18,040 Speaker 1: How when you speak to them about this? I realize 230 00:15:18,280 --> 00:15:23,400 Speaker 1: I'm generalizing because not everybody buys it, and so in general, 231 00:15:23,400 --> 00:15:26,120 Speaker 1: how are they're responding? So when I speak with them, 232 00:15:26,800 --> 00:15:34,120 Speaker 1: they respond with great positivity because of two reasons. One 233 00:15:34,280 --> 00:15:37,880 Speaker 1: is I explain what's going on, and I suggest that 234 00:15:37,920 --> 00:15:41,840 Speaker 1: they learn about it themselves. I don't tell them things 235 00:15:41,920 --> 00:15:46,120 Speaker 1: like you are dead and you know you don't get it, 236 00:15:46,320 --> 00:15:50,800 Speaker 1: or there's a revolution. My basic belief is this new 237 00:15:50,920 --> 00:15:55,520 Speaker 1: form also provides a lot of opportunities to companies and 238 00:15:55,600 --> 00:16:00,720 Speaker 1: to senior executives. If you reimagine your business, it basically 239 00:16:00,720 --> 00:16:02,880 Speaker 1: says you are forced to have your current business and 240 00:16:02,920 --> 00:16:06,520 Speaker 1: you can transition your business. So because I explained how 241 00:16:06,560 --> 00:16:11,640 Speaker 1: web three is different than NFDS, which is different than Dow's, 242 00:16:11,680 --> 00:16:15,000 Speaker 1: which is different than metaverse, how to learn about it, 243 00:16:15,320 --> 00:16:20,040 Speaker 1: and what the financial upside is if they learn about it, 244 00:16:20,560 --> 00:16:24,080 Speaker 1: and what the creative upside is if they learn about it, 245 00:16:24,720 --> 00:16:26,640 Speaker 1: and of course what some of the challenges are if 246 00:16:26,680 --> 00:16:29,520 Speaker 1: they don't learn about it. Makes them want to learn 247 00:16:29,560 --> 00:16:33,120 Speaker 1: about it. But you said something important that you don't 248 00:16:33,640 --> 00:16:36,000 Speaker 1: put them on their heels. No, no, no, it's a 249 00:16:36,280 --> 00:16:39,600 Speaker 1: defensive past. Right, you lay the facts. I go to 250 00:16:39,640 --> 00:16:42,400 Speaker 1: them as a business person talking to a business person, 251 00:16:43,120 --> 00:16:46,720 Speaker 1: And because I was fortunate to be right in nineteen 252 00:16:46,800 --> 00:16:50,000 Speaker 1: ninety three and in two thousand and seven where I 253 00:16:50,040 --> 00:16:52,360 Speaker 1: help many of these companies first get on the web 254 00:16:52,760 --> 00:16:56,520 Speaker 1: understand mobile. So when I show up again, I say, 255 00:16:56,520 --> 00:17:01,760 Speaker 1: it's that same things happening again. Start being tension, start 256 00:17:02,240 --> 00:17:06,480 Speaker 1: understanding the impact, and that which is speaking with two 257 00:17:07,040 --> 00:17:13,919 Speaker 1: senior people in three voices. So one voice is a 258 00:17:14,000 --> 00:17:19,760 Speaker 1: voice of business and reason, the second voice is a 259 00:17:19,840 --> 00:17:24,520 Speaker 1: voice of education, and the third voice is a voice 260 00:17:24,520 --> 00:17:29,320 Speaker 1: of provocation. But it's not just the provocative voice. The 261 00:17:29,400 --> 00:17:33,760 Speaker 1: provocation is something big is changing which could help you 262 00:17:34,040 --> 00:17:38,240 Speaker 1: or hurt you. It's not right, I'm not sure exactly, 263 00:17:38,400 --> 00:17:39,960 Speaker 1: but these are some of the things you want to 264 00:17:40,000 --> 00:17:42,120 Speaker 1: think about, and here's how you can learn about it. 265 00:17:42,720 --> 00:17:47,000 Speaker 1: And by the way, that's the education part. There's upside 266 00:17:47,119 --> 00:17:49,760 Speaker 1: to your business if you think about your business like this. 267 00:17:50,600 --> 00:17:55,480 Speaker 1: So then they're saying, oh, good, I should think about 268 00:17:55,520 --> 00:17:58,080 Speaker 1: this because this could be a threat, but wait, it 269 00:17:58,119 --> 00:18:00,560 Speaker 1: could also be an opportunity you find learn about it. 270 00:18:02,080 --> 00:18:04,719 Speaker 1: And so I've done it for seven boards already. Boards 271 00:18:04,720 --> 00:18:07,639 Speaker 1: of directors. These are not like just these are the 272 00:18:08,680 --> 00:18:12,960 Speaker 1: it's the CEO's external board. And they say no one 273 00:18:13,000 --> 00:18:15,640 Speaker 1: speaks to us like this right, And I said, look, 274 00:18:15,640 --> 00:18:17,960 Speaker 1: I'm not the expert. I'm showing you where the experts are, 275 00:18:18,200 --> 00:18:20,040 Speaker 1: but these are the kinds of things you want to 276 00:18:20,040 --> 00:18:24,480 Speaker 1: think about. And I have at this current time a 277 00:18:24,560 --> 00:18:27,560 Speaker 1: bunch of experts training me, so like this afternoon, I'm 278 00:18:27,560 --> 00:18:31,000 Speaker 1: going to have another expert. So I have five different 279 00:18:31,040 --> 00:18:35,119 Speaker 1: world class people doing like one hour a week or 280 00:18:35,160 --> 00:18:38,000 Speaker 1: one hour every two weeks training me, and then I 281 00:18:38,040 --> 00:18:40,200 Speaker 1: go learn on my own. But they say, I ask 282 00:18:40,280 --> 00:18:44,280 Speaker 1: them like what should I what should I use? What 283 00:18:44,320 --> 00:18:46,760 Speaker 1: should I leverage? What should I buy? What should I understand? 284 00:18:46,760 --> 00:18:51,960 Speaker 1: What should I look? And some of it is too 285 00:18:52,000 --> 00:18:54,720 Speaker 1: hard for me, and I say too hard. Sometimes it's 286 00:18:54,760 --> 00:18:57,719 Speaker 1: you know, it's a little bit easy, but what are 287 00:18:57,760 --> 00:19:03,240 Speaker 1: they training you on? Yeah, so it's no, it's basically 288 00:19:03,359 --> 00:19:10,000 Speaker 1: everything from how does a distributed automated autonomous organization work? 289 00:19:12,119 --> 00:19:15,600 Speaker 1: To someone else basically like I've figured out how to 290 00:19:15,600 --> 00:19:19,000 Speaker 1: make my own NFTs and all that. That's that done, 291 00:19:19,280 --> 00:19:24,399 Speaker 1: But you know what's the underlying business model behind some 292 00:19:24,480 --> 00:19:27,879 Speaker 1: of these tokens, not just Bitcoin in others, but the 293 00:19:28,480 --> 00:19:34,840 Speaker 1: newer ones like Algo brand or you know, Cardowna, et cetera. 294 00:19:35,359 --> 00:19:37,800 Speaker 1: How do they work, Why do they work? What's the business? 295 00:19:37,840 --> 00:19:41,639 Speaker 1: Why is it not just a Ponzi scheme? Right? What's 296 00:19:41,680 --> 00:19:45,119 Speaker 1: the what industries will be affected by? What? What should 297 00:19:45,160 --> 00:19:47,880 Speaker 1: I be looking for? Who should I be following? Right? 298 00:19:48,640 --> 00:19:50,840 Speaker 1: What conference should I go to? What should I watch 299 00:19:50,880 --> 00:19:56,120 Speaker 1: on YouTube? So they're like curators. They tell me, look here, 300 00:19:56,560 --> 00:20:00,800 Speaker 1: watch this, read this, go there, play this. So that's 301 00:20:00,840 --> 00:20:04,359 Speaker 1: the way you are. Yes, yes, yes, But what happens 302 00:20:04,480 --> 00:20:08,320 Speaker 1: is I do that in stuff I know. But but 303 00:20:08,600 --> 00:20:10,399 Speaker 1: I keep reminding people is there are people who know 304 00:20:10,440 --> 00:20:14,400 Speaker 1: more than I do right in this space. Sure, and 305 00:20:15,359 --> 00:20:18,280 Speaker 1: they want to talk to me. So you might say okay, 306 00:20:18,400 --> 00:20:21,200 Speaker 1: and I don't pay them, right, So someone will say, okay, 307 00:20:21,200 --> 00:20:25,760 Speaker 1: then why are these people talking to you? The reason 308 00:20:26,600 --> 00:20:29,479 Speaker 1: is because they know that I believe in what they 309 00:20:29,520 --> 00:20:34,800 Speaker 1: are thinking about. So think about them as revolutionaries, and 310 00:20:34,920 --> 00:20:38,480 Speaker 1: I believe in the revolution. But then I know how 311 00:20:38,520 --> 00:20:42,520 Speaker 1: to ask questions and sell the revolution to the kings 312 00:20:42,520 --> 00:20:48,440 Speaker 1: and queens. Right yea, And ideally you should be able 313 00:20:48,480 --> 00:20:51,040 Speaker 1: to go to the future without any bloodshed. So my 314 00:20:51,119 --> 00:20:54,160 Speaker 1: old stuff is showing how this works. I can then 315 00:20:54,359 --> 00:20:58,240 Speaker 1: translate it into English for these folks. At the same time, 316 00:20:58,320 --> 00:21:01,080 Speaker 1: I can translate from what you might hear from these 317 00:21:01,119 --> 00:21:05,280 Speaker 1: folks as resistance as actually business and human questions which 318 00:21:05,840 --> 00:21:08,600 Speaker 1: you need to answer right or not answer it, but but 319 00:21:08,720 --> 00:21:12,240 Speaker 1: be aware of because if you really want this to scale, 320 00:21:12,400 --> 00:21:17,800 Speaker 1: it's better to get people as your friends or neutral 321 00:21:18,320 --> 00:21:22,000 Speaker 1: than just go and piss people off. Well, but at 322 00:21:22,040 --> 00:21:27,639 Speaker 1: its core to you talk often in your book of 323 00:21:27,760 --> 00:21:31,359 Speaker 1: your storing the solar business and in your substack quog 324 00:21:33,280 --> 00:21:37,360 Speaker 1: about the importance of learning yes, yes, and how that 325 00:21:37,400 --> 00:21:41,400 Speaker 1: should be the continual diet in your life. It is, 326 00:21:41,440 --> 00:21:44,520 Speaker 1: it is, It's more important, It's always been important. And 327 00:21:44,560 --> 00:21:47,399 Speaker 1: you know, I have this like the presentation that I 328 00:21:47,480 --> 00:21:54,000 Speaker 1: give and I normally never give presentations and I just talk. 329 00:21:54,880 --> 00:21:57,560 Speaker 1: But because this space is a little bit complex, I 330 00:21:57,640 --> 00:22:01,200 Speaker 1: have to show a few things, like some a few 331 00:22:01,280 --> 00:22:04,760 Speaker 1: visuals to show how things are interconnected, because it's hard 332 00:22:04,800 --> 00:22:06,760 Speaker 1: to say, okay, can I imagine a box? And this 333 00:22:06,880 --> 00:22:09,120 Speaker 1: is so I feel like draw the box and show 334 00:22:09,160 --> 00:22:13,320 Speaker 1: the thing. So I wrote a presentation, which is for 335 00:22:13,480 --> 00:22:17,240 Speaker 1: me very odd because I don't do presentations, and it's 336 00:22:17,280 --> 00:22:19,480 Speaker 1: a longer one because I try to keep my slides 337 00:22:19,560 --> 00:22:23,639 Speaker 1: till nine slides or less. I've written about that and 338 00:22:23,720 --> 00:22:28,199 Speaker 1: this one is eighteen slides, Okay, but it takes me 339 00:22:28,280 --> 00:22:31,400 Speaker 1: eighteen slides to explain the new space, including a deep 340 00:22:31,440 --> 00:22:36,080 Speaker 1: dive into things like Mana Versus and Webrio and tokens. 341 00:22:36,119 --> 00:22:38,880 Speaker 1: But it takes me eighteen slides, not but too many words, 342 00:22:38,920 --> 00:22:46,040 Speaker 1: but takes me eighteen. But the last slide is a quote. 343 00:22:47,280 --> 00:22:54,640 Speaker 1: Not a quote, it's a I point to the words 344 00:22:54,640 --> 00:22:57,040 Speaker 1: written on the two stone of Off the Sea Clock. 345 00:22:57,840 --> 00:23:00,920 Speaker 1: So Off the Sea Clock wrote two thousand and space Odyssey. 346 00:23:01,640 --> 00:23:07,520 Speaker 1: And he is buried in Sri Lanka, which is the 347 00:23:07,560 --> 00:23:12,240 Speaker 1: old salon southern India and Ireland country. And on his 348 00:23:12,400 --> 00:23:16,560 Speaker 1: tombstone are the following words. That's how my presentation ends. Right. 349 00:23:18,440 --> 00:23:24,200 Speaker 1: He never grew up, but he never stopped growing. Yeah, 350 00:23:24,440 --> 00:23:29,239 Speaker 1: And I remind the senior people the reason you'll have 351 00:23:29,320 --> 00:23:32,479 Speaker 1: this role is you're not constantly having to navigate the future. 352 00:23:33,920 --> 00:23:36,280 Speaker 1: But the future doesn't fit in the containers of the past, 353 00:23:36,320 --> 00:23:40,119 Speaker 1: and it changes. So if you don't upgrade your own learning, 354 00:23:40,320 --> 00:23:44,359 Speaker 1: you will be a container of the past. Okay, Therefore, 355 00:23:44,480 --> 00:23:46,600 Speaker 1: keep learning, because the day you stop learning is the 356 00:23:46,640 --> 00:23:50,480 Speaker 1: day you stop start dying. And that you know, that 357 00:23:50,720 --> 00:23:57,080 Speaker 1: is what gets people excited. And because me showing how 358 00:23:57,119 --> 00:24:00,600 Speaker 1: I do it and how they can do it. It's like, oh, 359 00:24:00,640 --> 00:24:03,399 Speaker 1: this is cool. And you know, learning is like a drug. 360 00:24:03,480 --> 00:24:06,480 Speaker 1: Once you start it, you get addicted to it. It's 361 00:24:06,480 --> 00:24:09,359 Speaker 1: sort of like exercise or a few other things for you. 362 00:24:09,800 --> 00:24:13,320 Speaker 1: But once you do it, you're much more less resistance 363 00:24:13,400 --> 00:24:18,199 Speaker 1: to change because you're learning about it, and so you 364 00:24:18,240 --> 00:24:21,159 Speaker 1: can decide to resist it because you know about it 365 00:24:21,200 --> 00:24:24,440 Speaker 1: and you think it doesn't make sense. Like a lot 366 00:24:24,480 --> 00:24:27,359 Speaker 1: of what I will share with people, at some stages, 367 00:24:27,400 --> 00:24:30,240 Speaker 1: I'll say somehow it doesn't make sense, and I said, okay, 368 00:24:30,280 --> 00:24:32,880 Speaker 1: you heard me. It doesn't make sense to me why 369 00:24:32,880 --> 00:24:34,760 Speaker 1: it doesn't make sense? And they tell me, and sometimes 370 00:24:34,760 --> 00:24:37,560 Speaker 1: it doesn't make sense after they've listened to me. But 371 00:24:37,640 --> 00:24:40,080 Speaker 1: if they just said it doesn't make sense, I'd say, like, 372 00:24:40,160 --> 00:24:43,240 Speaker 1: you don't get it. Or without even talking to me, 373 00:24:43,280 --> 00:24:45,080 Speaker 1: they said you don't make any sense, I said, like, 374 00:24:45,160 --> 00:24:50,960 Speaker 1: what's this? So that's what it is. Are leaders of 375 00:24:51,040 --> 00:24:56,479 Speaker 1: today in companies understanding the importance of the way they 376 00:24:56,520 --> 00:25:02,360 Speaker 1: shape their culture in these times? They do, and they 377 00:25:02,400 --> 00:25:06,160 Speaker 1: realize it's important, but they are struggling. Everyone is struggling, 378 00:25:06,960 --> 00:25:12,560 Speaker 1: and there are four you know. The last problem they 379 00:25:12,640 --> 00:25:16,600 Speaker 1: had or the problem they all had is a fourth problem, 380 00:25:16,640 --> 00:25:19,840 Speaker 1: and it's assess it's sort of ascerbated the first three. 381 00:25:19,880 --> 00:25:23,879 Speaker 1: So the last problem was COVID nineteen, but the first 382 00:25:23,920 --> 00:25:30,760 Speaker 1: three was globalization. Demographic shifts in the Internet got problems 383 00:25:30,840 --> 00:25:37,399 Speaker 1: with massive changes. So globalization already meant that if you 384 00:25:37,400 --> 00:25:41,320 Speaker 1: were a leader, your workforce was everywhere in the world. 385 00:25:41,840 --> 00:25:45,719 Speaker 1: So you know when people say, oh, I've got distributed remote, 386 00:25:45,720 --> 00:25:50,760 Speaker 1: I don't like the worlds, but okay, unbundled, there are 387 00:25:50,800 --> 00:25:55,879 Speaker 1: more employees of IBM Accenture, and I can name a 388 00:25:55,920 --> 00:25:59,920 Speaker 1: lot of other companies that are supposed to be based 389 00:26:00,080 --> 00:26:03,960 Speaker 1: and wherever are Mound or Chicago, they are more of 390 00:26:04,000 --> 00:26:08,080 Speaker 1: their employees in India than they're in the United States. 391 00:26:09,720 --> 00:26:12,160 Speaker 1: So the sole idea where they basically say everybody's got 392 00:26:12,160 --> 00:26:14,080 Speaker 1: to be together. I said eighty percent of your people 393 00:26:14,080 --> 00:26:16,400 Speaker 1: I know when you're your headquarters or anywhere in this country. 394 00:26:16,880 --> 00:26:21,760 Speaker 1: Let's start with that, and that time zones apart. So 395 00:26:22,040 --> 00:26:25,639 Speaker 1: let's forget all this, it's already happened. Then you have 396 00:26:25,640 --> 00:26:28,480 Speaker 1: the demographic issues, which is a the US. The country 397 00:26:28,520 --> 00:26:31,040 Speaker 1: is getting older, so how do you deal with people 398 00:26:31,080 --> 00:26:34,320 Speaker 1: like ourselves who are older or as they call ourselves, 399 00:26:34,520 --> 00:26:38,639 Speaker 1: season I like that one better, right, But on the 400 00:26:38,680 --> 00:26:41,159 Speaker 1: other stage, how do you deal with the demographics that 401 00:26:41,240 --> 00:26:46,680 Speaker 1: people under eighteen in the US are already maulti ethnic, right? 402 00:26:46,760 --> 00:26:49,280 Speaker 1: And then also how do you deal with the fact 403 00:26:49,400 --> 00:26:53,520 Speaker 1: that certain things like purpose and values are not things 404 00:26:53,520 --> 00:26:58,320 Speaker 1: that have been hoisted upon as something alien. Purpose and 405 00:26:58,359 --> 00:27:00,919 Speaker 1: values have always been important, But there's a group of 406 00:27:00,920 --> 00:27:03,800 Speaker 1: people under thirty five for whom this is even more 407 00:27:03,800 --> 00:27:06,719 Speaker 1: important than maybe for people who are of a different age. 408 00:27:07,720 --> 00:27:10,479 Speaker 1: So if you're a management person, you're basically saying, Okay, 409 00:27:10,720 --> 00:27:13,199 Speaker 1: I have these young people who want to learn quickly 410 00:27:13,240 --> 00:27:15,920 Speaker 1: and move quickly, and they don't want to pay their dues. 411 00:27:16,720 --> 00:27:18,680 Speaker 1: They don't look like me, they don't talk like me, 412 00:27:19,080 --> 00:27:21,720 Speaker 1: their values are different than me. Then I've got these 413 00:27:21,760 --> 00:27:25,920 Speaker 1: seasoned people, right who I can't afford to lose because 414 00:27:25,920 --> 00:27:28,560 Speaker 1: the population of the US is declining. And if I 415 00:27:28,600 --> 00:27:30,600 Speaker 1: lose all my senior people and these people don't want 416 00:27:30,640 --> 00:27:34,959 Speaker 1: to come to work, what do I do. And at 417 00:27:35,000 --> 00:27:38,000 Speaker 1: the same stage, I have to be careful about DEI 418 00:27:38,000 --> 00:27:42,159 Speaker 1: and a whole bunch of other things. And those are 419 00:27:42,200 --> 00:27:44,880 Speaker 1: the issues, and my old stuff is culture is all 420 00:27:44,920 --> 00:27:49,000 Speaker 1: of that culture isn't just getting people in an office, 421 00:27:49,760 --> 00:27:55,000 Speaker 1: So that's what they're struggling with. How can companies make 422 00:27:55,080 --> 00:28:01,880 Speaker 1: their organizations more future proof? The way to basically make 423 00:28:01,880 --> 00:28:08,680 Speaker 1: an organization's future prove is it's a three key things. 424 00:28:08,720 --> 00:28:19,359 Speaker 1: The first one is to strongly encourage, incentivize and sort 425 00:28:19,400 --> 00:28:23,440 Speaker 1: of enable people to grow. So what do I mean 426 00:28:23,440 --> 00:28:30,200 Speaker 1: by that? Most companies have cut back on training. How 427 00:28:30,240 --> 00:28:34,720 Speaker 1: are people gonna learn without any training? So you're asking 428 00:28:34,720 --> 00:28:37,840 Speaker 1: people to do something different, but youond training them. The 429 00:28:37,920 --> 00:28:40,160 Speaker 1: other is you want to incentivize them. So if you 430 00:28:40,200 --> 00:28:43,000 Speaker 1: want something to do something different, you've gotta promote people. 431 00:28:43,040 --> 00:28:45,840 Speaker 1: You gotta pay people who try the new things. But 432 00:28:45,880 --> 00:28:49,160 Speaker 1: if you basically promote the people and pay the people 433 00:28:49,160 --> 00:28:51,360 Speaker 1: who are doing what the cash cow does, why would 434 00:28:51,360 --> 00:28:54,640 Speaker 1: anybody do that? So the one is look at your 435 00:28:54,640 --> 00:28:57,400 Speaker 1: incentive programs, look at your train programs, and also look 436 00:28:57,400 --> 00:29:01,440 Speaker 1: at your communication programs to get people to change, which 437 00:29:01,480 --> 00:29:03,960 Speaker 1: obviously it leads from the top, which is you should 438 00:29:03,960 --> 00:29:07,120 Speaker 1: do that yourself as a leader. So that's one. The 439 00:29:07,240 --> 00:29:12,400 Speaker 1: second is do not define your category by your existing competitors. 440 00:29:13,560 --> 00:29:18,360 Speaker 1: So every category is real opportunities and threats where their 441 00:29:18,360 --> 00:29:26,120 Speaker 1: opportunities come from outside it the automobile industry. The opportunity 442 00:29:26,120 --> 00:29:31,320 Speaker 1: and thread comes from an Uber and a Tessa that 443 00:29:31,440 --> 00:29:33,920 Speaker 1: were not part of the automobile industry. But if you 444 00:29:33,920 --> 00:29:36,560 Speaker 1: look at the future of the automobile industry, it's some 445 00:29:36,720 --> 00:29:43,680 Speaker 1: combination of electric cars, some more may not be fully 446 00:29:43,720 --> 00:29:49,800 Speaker 1: automated driving, but more automated driving than today, and potentially 447 00:29:50,360 --> 00:29:55,200 Speaker 1: people not having cars. Right, the future of and the 448 00:29:55,240 --> 00:29:58,560 Speaker 1: biggest value in the hotel business comes from companies like 449 00:29:58,760 --> 00:30:04,360 Speaker 1: Airbnb and booking dot com and maybe less than from 450 00:30:04,440 --> 00:30:08,240 Speaker 1: Hillton or Marion. Now they have all understood this and 451 00:30:08,280 --> 00:30:10,880 Speaker 1: they're figuring out how to work at it. But if 452 00:30:10,880 --> 00:30:13,440 Speaker 1: they should have done it earlier. Right, So I said 453 00:30:13,440 --> 00:30:15,760 Speaker 1: the future comes from the slime in the heaven. So 454 00:30:15,840 --> 00:30:19,200 Speaker 1: what is training communication? The second is do not define 455 00:30:19,240 --> 00:30:23,400 Speaker 1: your category with the way you coveractly have it. And 456 00:30:23,480 --> 00:30:30,240 Speaker 1: the third one, which is extremely important, is to do 457 00:30:30,360 --> 00:30:33,680 Speaker 1: what I just mentioned, which is you yourself as management, 458 00:30:34,680 --> 00:30:38,160 Speaker 1: if your management or in any individual, I basically say 459 00:30:38,760 --> 00:30:43,640 Speaker 1: to management, spend thirty percent of your time on future projects. 460 00:30:45,440 --> 00:30:48,120 Speaker 1: I'm not saying spend thirty percent of your budget on 461 00:30:48,200 --> 00:30:52,080 Speaker 1: future projects. You can spend ninety percent of your budget 462 00:30:52,080 --> 00:30:55,280 Speaker 1: in today's projects and maybe five or ten your future projects. 463 00:30:55,280 --> 00:30:58,000 Speaker 1: But thirty percent of your time and thirty percent of 464 00:30:58,000 --> 00:31:02,240 Speaker 1: your best talent should be for tomorrow. And people are confused. 465 00:31:02,760 --> 00:31:05,120 Speaker 1: I said, if tomorrow is very important, you don't want 466 00:31:05,120 --> 00:31:08,040 Speaker 1: to give you know, you wouldn't hand your kids to 467 00:31:08,120 --> 00:31:11,760 Speaker 1: a troubled child, But you have a troubled executive who's 468 00:31:11,760 --> 00:31:13,440 Speaker 1: not doing so well. You say, okay, we don't want 469 00:31:13,440 --> 00:31:15,360 Speaker 1: to do with this person. Give them on a future project. 470 00:31:15,400 --> 00:31:18,320 Speaker 1: How stupid is that? Right? And you want to signal 471 00:31:18,320 --> 00:31:20,880 Speaker 1: I'm putting my best people, I'm putting my own time 472 00:31:20,920 --> 00:31:23,120 Speaker 1: in the future, even though I'm putting most of my 473 00:31:23,240 --> 00:31:25,640 Speaker 1: budget today to make sure I have a future and 474 00:31:25,680 --> 00:31:28,520 Speaker 1: I generate the income. So that's the third one, which 475 00:31:28,560 --> 00:31:30,760 Speaker 1: is I won't know how you spend your time and 476 00:31:30,800 --> 00:31:33,239 Speaker 1: how you put most of your talent. I don't want 477 00:31:33,280 --> 00:31:37,640 Speaker 1: to necessarily see how you spend your budget. So last 478 00:31:37,680 --> 00:31:40,720 Speaker 1: question was shot. It's a year from now. Hopefully we're 479 00:31:40,760 --> 00:31:46,160 Speaker 1: taking a walk here once again, revisiting absolutely roughly and 480 00:31:46,240 --> 00:31:48,640 Speaker 1: hopefully in summer. If you're in winter, we'll have a 481 00:31:48,720 --> 00:31:50,920 Speaker 1: crackling sound of first week, we have a little bit 482 00:31:50,960 --> 00:31:53,640 Speaker 1: of an issue yeah, but so it's a year from now. 483 00:31:53,920 --> 00:31:57,640 Speaker 1: What do you personally want to have learned in the 484 00:31:57,680 --> 00:32:01,280 Speaker 1: next year that you're setting your sites on that we'd 485 00:32:01,320 --> 00:32:04,200 Speaker 1: be talking about a year from now. So the two 486 00:32:04,240 --> 00:32:08,480 Speaker 1: areas that I am actually spending a lot of time 487 00:32:08,560 --> 00:32:15,600 Speaker 1: on for two different reasons is the following two. One 488 00:32:15,800 --> 00:32:19,560 Speaker 1: is what does the future of the Internet look like? 489 00:32:20,560 --> 00:32:22,200 Speaker 1: Which is why I'm spending a lot of time on 490 00:32:22,240 --> 00:32:27,040 Speaker 1: this broad webree metaverse, because I think there's something dramatic 491 00:32:27,080 --> 00:32:31,440 Speaker 1: happening there, so I will be more sophisticated about it 492 00:32:31,520 --> 00:32:35,080 Speaker 1: hopefully a year from now. That's one, So that's our 493 00:32:35,240 --> 00:32:39,920 Speaker 1: marketing technology. The other one, which you see in my writing, 494 00:32:41,120 --> 00:32:45,680 Speaker 1: is what is the future of work, workplaces and workers 495 00:32:45,720 --> 00:32:49,040 Speaker 1: look like. I don't think it's gonna look like in 496 00:32:49,120 --> 00:32:51,959 Speaker 1: twenty twenty nine. What it looks like in twenty nineteen. 497 00:32:52,000 --> 00:32:56,840 Speaker 1: It'll be more different than twenty nineteen than twenty nineteen. 498 00:32:56,880 --> 00:33:01,760 Speaker 1: What's from two thousand and nine or two thousand and 499 00:33:01,800 --> 00:33:04,400 Speaker 1: I'm trying to understand what does that mean and where 500 00:33:04,400 --> 00:33:07,680 Speaker 1: does that go and what the implications are Because work 501 00:33:07,800 --> 00:33:11,959 Speaker 1: is central to everything from GDP to the way cities 502 00:33:12,040 --> 00:33:16,000 Speaker 1: function to identity. So when you basically say, work workers 503 00:33:16,000 --> 00:33:20,760 Speaker 1: and workspaces are changing, and all three are changing at 504 00:33:20,800 --> 00:33:24,960 Speaker 1: the same time, driven by technology COVID nineteen, changing demographics, 505 00:33:26,600 --> 00:33:32,040 Speaker 1: the ability you know, and they will intersect. When WHEB 506 00:33:32,080 --> 00:33:34,800 Speaker 1: three allows a content creator to be their own boss, 507 00:33:35,800 --> 00:33:39,120 Speaker 1: when it allows seventy eight years, you and need to 508 00:33:39,200 --> 00:33:43,560 Speaker 1: have this conversation almost real in a metaverse thing not 509 00:33:43,840 --> 00:33:47,800 Speaker 1: today's technology doesn't allow it. Right, What happens when the 510 00:33:47,840 --> 00:33:51,440 Speaker 1: next Athens or Silicon Valley or Bangalore is not a 511 00:33:51,480 --> 00:33:56,640 Speaker 1: place but in the cloud? So what so the future 512 00:33:56,680 --> 00:33:59,360 Speaker 1: of work workers and workspaces is one and the future 513 00:33:59,400 --> 00:34:03,400 Speaker 1: of the Internet is the other one. Well, you make 514 00:34:03,440 --> 00:34:07,600 Speaker 1: me excited about the future, not afraid of the future, right, 515 00:34:07,720 --> 00:34:10,520 Speaker 1: even though sometimes I think we need to be slightly fearful. 516 00:34:10,800 --> 00:34:13,040 Speaker 1: We have to be apprehensive, we have to be skeptical, 517 00:34:13,160 --> 00:34:16,560 Speaker 1: all of which I am right. But like literally my 518 00:34:16,719 --> 00:34:22,640 Speaker 1: future of Internet presentation starts with this, says, I have 519 00:34:22,680 --> 00:34:25,120 Speaker 1: a disclaimer. I said, you are going to year from 520 00:34:25,160 --> 00:34:28,360 Speaker 1: somebody who is going to take a positive take on 521 00:34:28,400 --> 00:34:31,719 Speaker 1: the future, a positive take on Web three, and a 522 00:34:31,760 --> 00:34:37,959 Speaker 1: positive take on everything. However, and then I list here 523 00:34:38,080 --> 00:34:41,680 Speaker 1: are amazingly smart people, and I list where they can 524 00:34:41,719 --> 00:34:45,719 Speaker 1: people can go who disagree with me. I mean, they 525 00:34:45,760 --> 00:34:48,320 Speaker 1: don't know who I am, but their viewpoint is different 526 00:34:48,320 --> 00:34:51,279 Speaker 1: than mine. And I said, these are famous, very well 527 00:34:51,320 --> 00:34:54,960 Speaker 1: known biomo so yes, Scott Galloway or web three. Here 528 00:34:55,080 --> 00:34:58,800 Speaker 1: is Dan Olsen's to our video. Here is the NFT 529 00:34:59,200 --> 00:35:03,799 Speaker 1: sucks group. Read it yours? Right? So I said, there 530 00:35:03,880 --> 00:35:06,680 Speaker 1: is that I spend time with them. I ever spend 531 00:35:06,680 --> 00:35:08,520 Speaker 1: time with them and listen to them. I hear them, 532 00:35:08,520 --> 00:35:11,560 Speaker 1: I figure it all out. But I have a different take. 533 00:35:12,440 --> 00:35:16,080 Speaker 1: And here's why, right, And that also, by the way, 534 00:35:16,200 --> 00:35:18,800 Speaker 1: encourages people to listen to me, because my whole stuff 535 00:35:18,840 --> 00:35:22,040 Speaker 1: is yes, they're right in certain ways, but they aren't 536 00:35:22,040 --> 00:35:25,040 Speaker 1: seeing the whole picture. And what they are fighting about 537 00:35:25,360 --> 00:35:29,360 Speaker 1: is like the equivalent of you know, someone comes into 538 00:35:32,040 --> 00:35:37,400 Speaker 1: you know, let's see, you've come to my apartment, and 539 00:35:38,120 --> 00:35:40,319 Speaker 1: it's a pretty nice apartment. But then you basically see 540 00:35:40,360 --> 00:35:45,720 Speaker 1: that somewhere in the corner, okay, there's like a mess okay, 541 00:35:45,880 --> 00:35:48,239 Speaker 1: not the third not a d but there's some sort 542 00:35:48,280 --> 00:35:53,480 Speaker 1: of mess, okay, And you basically say, Richard lives terribly 543 00:35:53,560 --> 00:35:56,239 Speaker 1: look at that mess in the corner. Everything else is 544 00:35:56,320 --> 00:35:58,879 Speaker 1: Christine and the mess might basically be my kids were 545 00:35:59,400 --> 00:36:02,640 Speaker 1: you're or just before you entered you know, I threw 546 00:36:02,680 --> 00:36:05,400 Speaker 1: something on the corner. And then you say, that is 547 00:36:05,440 --> 00:36:10,360 Speaker 1: the future of Richard's living conditions and my old stuff 548 00:36:10,440 --> 00:36:13,880 Speaker 1: is That's true, there's a corner in the mass. We 549 00:36:13,960 --> 00:36:18,040 Speaker 1: figured out why. But how's that the living conditions? That's 550 00:36:18,080 --> 00:36:19,719 Speaker 1: what a lot of these people do. They take a 551 00:36:19,760 --> 00:36:23,319 Speaker 1: price of some crypto, right, they take somebody fighting with 552 00:36:23,400 --> 00:36:26,239 Speaker 1: each other, and they conflate it into the future of 553 00:36:26,280 --> 00:36:28,000 Speaker 1: the Internet's why I don't call it web crear. I said, 554 00:36:28,040 --> 00:36:30,200 Speaker 1: the future of the Internet. I said, for people who 555 00:36:30,200 --> 00:36:32,560 Speaker 1: don't believe that the Internet changed in nineteen ninety three 556 00:36:32,600 --> 00:36:35,680 Speaker 1: and two thousand and seven, it came around and it 557 00:36:35,719 --> 00:36:38,719 Speaker 1: created massive new things like mobile and social and search, 558 00:36:38,760 --> 00:36:41,319 Speaker 1: and e Comma said, pry, this is the same thing. 559 00:36:41,600 --> 00:36:44,879 Speaker 1: So you can decide that this is about a crypto crash. 560 00:36:45,239 --> 00:36:47,840 Speaker 1: All you can decide this is about increased boardband penetration 561 00:36:48,000 --> 00:36:50,400 Speaker 1: and AI and biotech, which is what I think it is. 562 00:36:50,800 --> 00:36:53,480 Speaker 1: So I said, you decide, and by the way, you're 563 00:36:53,480 --> 00:36:56,160 Speaker 1: paying that the whole world is going to hand a 564 00:36:56,160 --> 00:37:00,279 Speaker 1: handbasket and there is no progress in technology. Fine, but 565 00:37:01,560 --> 00:37:06,880 Speaker 1: that's your right I'm not yet. I don't know how 566 00:37:06,880 --> 00:37:11,960 Speaker 1: to live when someone basically says everything's going backward. Thank 567 00:37:12,000 --> 00:37:16,239 Speaker 1: you for your passion, for your generosity, for your inspiration. 568 00:37:16,480 --> 00:37:21,400 Speaker 1: It's so great to see you again. Taking a Walk 569 00:37:21,520 --> 00:37:27,200 Speaker 1: with Buzznight is available on Spotify, Apple Podcasts, or wherever 570 00:37:27,280 --> 00:37:28,520 Speaker 1: you get your podcasts.