Episode Notes [03:47] Seth's Early Understanding of Questions [04:33] The Power of Questions [05:25] Building Relationships Through Questions [06:41] This is Strategy: Focus on Questions [10:21] Gamifying Questions [11:34] Conversations as Infinite Games [15:32] Creating Tension with Questions [20:46] Effective Questioning Techniques [23:21] Empathy and Engagement [34:33] Strategy and Culture [35:22] Microsoft's Transformation [36:00] Global Perspectives on Questions [39:39] Caring in a Challenging World Resources Mentioned The Dip by Seth Godin Linchpin by Seth Godin Purple Cow by Seth Godin Tribes by Seth Godin This Is Marketing by Seth Godin The Carbon Almanac This is Strategy by Seth Godin Seth's Blog What Does it Sound Like When You Change Your Mind? by Seth Godin Value Creation Masterclass by Seth Godin on Udemy The Strategy Deck by Seth Godin Taylor Swift Jimmy Smith Jimmy Smith Curated Questions Episode Supercuts Priya Parker Techstars Satya Nadella Microsoft Steve Ballmer Acumen Jerry Colonna Unleashing the Idea Virus by Seth Godin Tim Ferriss podcast with Seth Godin Seth Godin website Beauty Pill Producer Ben Ford Questions Asked When did you first understand the power of questions? What do you do to get under the layer to really get down to those lower levels? Is it just follow-up questions, mindset, worldview, and how that works for you? How'd you get this job anyway? What are things like around here? What did your boss do before they were your boss? Wow did you end up with this job? Why are questions such a big part of This is Strategy? If you had to charge ten times as much as you charge now, what would you do differently? If it had to be free, what would you do differently? Who's it for, and what's it for? What is the change we seek to make? How did you choose the questions for The Strategy Deck? How big is our circle of us? How many people do I care about? Is the change we're making contagious? Are there other ways to gamify the use of questions? Any other thoughts on how questions might be gamified? How do we play games with other people where we're aware of what it would be for them to win and for us to win? What is it that you're challenged by? What is it that you want to share? What is it that you're afraid of? If there isn't a change, then why are we wasting our time? Can you define tension? What kind of haircut do you want? How long has it been since your last haircut? How might one think about intentionally creating that question? What factors should someone think about as they use questions to create tension? How was school today? What is the kind of interaction I'm hoping for over time? How do I ask a different sort of question that over time will be answered with how was school today? Were there any easy questions on your math homework? Did anything good happen at school today? What tension am I here to create? What wrong questions continue to be asked? What temperature is it outside? When the person you could have been meets the person you are becoming, is it going to be a cause for celebration or heartbreak? What are the questions we're going to ask each other? What was life like at the dinner table when you were growing up? What are we really trying to accomplish? How do you have this cogent two sentence explanation of what you do? How many clicks can we get per visit? What would happen if there was a webpage that was designed to get you to leave? What were the questions that were being asked by people in authority at Yahoo in 1999? How did the stock do today? Is anything broken? What can you do today that will make the stock go up tomorrow? What are risks worth taking? What are we doing that might not work but that supports our mission? What was the last thing you did that didn't work, and what did we learn from it? What have we done to so delight our core customers that they're telling other people? How has your international circle informed your life of questions? What do I believe that other people don't believe? What do I see that other people don't see? What do I take for granted that other people don't take for granted? What would blank do? What would Bob do? What would Jill do? What would Susan do? What happened to them? What system are they in that made them decide that that was the right thing to do? And then how do we change the system? How given the state of the world, do you manage to continue to care as much as you do? Do you walk to school or take your lunch? If you all can only care if things are going well, then what does that mean about caring? Should I have spent the last 50 years curled up in a ball? How do we go to the foundation and create community action?…
Welcome to this podcast where we delve into the fascinating world of the Metaverse and its transformative potential for financial services, as explored in the groundbreaking book "Money in the Metaverse" by David Birch and Victoria Richardson. This insightful work takes us on a journey through the intersection of digital assets, online identities, and spatial computing, illuminating how virtual worlds are not just realms for entertainment but burgeoning marketplaces that require new frameworks for trust, security, and transactions. Join us as we unpack the key concepts presented in the book, exploring how the Metaverse is set to redefine commerce, enhance user experiences, and reshape the future of financial interactions in a digital-first world. Tune in as we navigate the intricacies of digital wallets, decentralized finance, and the evolving landscape of digital identity—ushering in a new era of economic possibilities.
Welcome to this podcast where we delve into the fascinating world of the Metaverse and its transformative potential for financial services, as explored in the groundbreaking book "Money in the Metaverse" by David Birch and Victoria Richardson. This insightful work takes us on a journey through the intersection of digital assets, online identities, and spatial computing, illuminating how virtual worlds are not just realms for entertainment but burgeoning marketplaces that require new frameworks for trust, security, and transactions. Join us as we unpack the key concepts presented in the book, exploring how the Metaverse is set to redefine commerce, enhance user experiences, and reshape the future of financial interactions in a digital-first world. Tune in as we navigate the intricacies of digital wallets, decentralized finance, and the evolving landscape of digital identity—ushering in a new era of economic possibilities.
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 2, titled "Virtual Worlds and Markets," explores the significance of virtual worlds as crucial components of the metaverse economy. It emphasizes that these environments are not merely entertainment platforms but are increasingly becoming substantial business ecosystems, evidenced by the vast amounts of money consumers spend on virtual goods and services. The chapter highlights examples, such as EVE Online and popular games like Fortnite, to illustrate how virtual worlds facilitate complex interactions and transactions. Furthermore, it discusses the intersection of these virtual spaces with financial services, pointing out that as virtual economies grow, they present new opportunities and challenges for traditional financial institutions to adapt and innovate within this evolving landscape.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 3, titled "Owners and Digital Identities," emphasizes the critical role of digital identity in establishing a functioning economy within the Metaverse. It argues that without a robust digital identity infrastructure, which integrates trust into the digital realm, the potential for economic activity in virtual spaces cannot be fully realized. The chapter distinguishes between "digitized identity," which merely replicates traditional identity systems, and "digital identity," which is designed for the interconnected and constantly online nature of the Metaverse. It outlines the necessity of a framework that encompasses identification, authentication, and authorization, using the Three Domain Identity (3DID) model to facilitate effective communication among stakeholders and to bridge the gap between physical and digital identities.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 4, titled "Web3 and digital assets," explores the nature of digital assets that can be traded in the Metaverse and how they differ from traditional financial transactions. It highlights the distinction between sending digital money (which involves the transfer of ownership) and sending copies of digital items (like cat pictures). The chapter emphasizes that digital assets, such as cryptocurrencies and tokens, are designed to facilitate ownership transfer securely and efficiently, laying the groundwork for future financial markets. It also touches upon the need for a regulatory framework to support these digital assets, especially in the wake of the recent crypto market challenges.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 5, titled "Digital Objects," explores the concept of digital assets within the Metaverse, emphasizing their importance as tradable entities in virtual environments. It discusses how these digital objects can be owned, exchanged, and interacted with, highlighting the need for a robust framework that allows for seamless transactions while ensuring ownership rights and provenance. The chapter underscores the role of web3 technologies in enabling these exchanges, facilitating a new economic landscape where digital objects hold intrinsic value, much like physical assets do in the real world.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 6, titled "Digital Identifiers," emphasizes the necessity of digital identities for both digital objects and their owners within the Metaverse, highlighting that ownership and market transactions depend on effective and portable digital identities. The chapter critiques the current state of digital identity management, where identities are often controlled by platforms rather than individuals, which poses barriers to mass adoption. It advocates for a system where digital identities are securely managed in a way that allows for seamless interaction across different virtual worlds, thus enabling transactions that require trust and verification. The authors propose a framework that integrates identification, authentication, and authorization to support this vision of a more interconnected and user-controlled digital identity landscape.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 7 focuses on digital credentials, which are essential for transactions in the Metaverse. It emphasizes the importance of these credentials in establishing trust and facilitating secure interactions between users and entities in virtual environments. Digital credentials enable individuals to prove their identity or attributes without revealing unnecessary personal information, thereby enhancing privacy and security. The chapter discusses how these credentials can be utilized in various applications, highlighting their role in creating a reputation economy where trust is built through verified claims rather than traditional data sharing. This approach aims to address the challenges of privacy and security in online transactions and interactions.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 8, titled "Trust and Transactions," explores the crucial role of trust in facilitating transactions within the Metaverse. The authors emphasize that the current lack of a secure and reliable infrastructure for online interactions undermines trust, which is essential for successful commerce. They argue that, unlike traditional platforms where trust is often placed in the platform itself, a more resilient infrastructure that prioritizes security and privacy is necessary. The chapter also discusses the implications of high-risk interactions, such as medical consultations, and calls for a narrative that emphasizes the importance of building secure and trustworthy environments to encourage users to engage in transactions safely.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 9, titled "Privacy with Credentials," discusses the importance of ensuring privacy in the Metaverse through the use of verifiable credentials (VCs). It highlights the need for privacy-preserving technologies that allow individuals to engage in transactions without revealing their full identities. The chapter emphasizes the concept of "negative identities," where users can maintain anonymity while still providing sufficient information to complete transactions. It argues that pseudonyms linked to credentials can enhance privacy and control over personal information, ultimately fostering a reputation economy where individuals can interact securely and confidently without the risk of their data being exploited.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 10, titled "Security from Identifiers," discusses the critical role of cryptographic keys in ensuring security within the Metaverse, where users manage their identities and transactions. It emphasizes that while self-sovereign identity (SSI) empowers individuals to control their keys, this responsibility may be overwhelming for the average person. The chapter argues for a custodial model of SSI, where trusted entities manage keys on behalf of users, thereby enhancing security and usability. It highlights the need for a balance between empowering users and ensuring that security measures are practical and accessible, ultimately advocating for a more effective management system for digital identities and assets in the evolving Metaverse landscape.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 11, titled "Smart Wallets," explores the emerging role of digital wallets within the Metaverse and their significance for financial transactions. It discusses how these smart wallets will facilitate seamless interactions in virtual environments by integrating digital identities and financial services, thus enhancing user experiences and trust. The chapter emphasizes that as transactions increasingly move into metaverses, wallets will not only serve as storage for digital assets but also as platforms for securely managing identities, credentials, and financial activities, ultimately reshaping the landscape of digital commerce.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 12, titled "Smart Strategies," discusses the intersection of decentralized finance (DeFi), verifiable credentials, and privacy-enhancing governance structures, positing that these elements will create a new financial services universe. The authors express optimism about the potential for DeFi to open up innovative business models in the finance sector, despite existing challenges and skepticism. They highlight the importance of digital identity infrastructure for legitimizing transactions in this new landscape and emphasize that financial institutions must adapt to these changes to remain relevant and competitive. The chapter suggests that future financial services will not only be about traditional banking but will also involve navigating a complex web of digital interactions where trust and transparency are paramount.…
https://londonpublishingpartnership.co.uk/books/money-in-the-metaverse-digital-assets-online-identities-spatial-computing-and-why-virtual-worlds-mean-real-business/ Chapter 1 introduces the concept of the Metaverse, drawing from Neal Stephenson’s novel "Snow Crash," where the Metaverse serves as a virtual reality-based successor to the internet. It emphasizes the intertwining of digital and physical worlds, illustrating how the implications of the digital realm can have significant real-world consequences, such as the importance of timely delivery within a pizza franchise. The chapter sets the stage for exploring the technologies that will shape the Metaverse, highlighting the necessity for a secure and trusted infrastructure to facilitate economic interactions in this new digital landscape.…
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