The Full Monty: Damage Control – March 26, 2018
The Facebook crisis has opened up a debate about data and regulations; China will never catch the US in AI; the 10 machine learning algorithms you need to know; Uber halt; bans on cryptocurrency ads from a number of platforms; a duopoly becomes a triopoly (is that a thing?); the most reputable brands; Amazon eats everything; what's fueling the retail apocalypse (it's not lack of innovation); Instagram catches up with the times; a new digital strategy for NBC; streaming music needs to follow Netflix's lead; Airbnb is far from mainstream; marketers need to take data in-house; measuring meaningful interactions; why introverts are natural disruptors; and more in the Damage Control edition of The Full Monty from Brain+Trust Partners for the week of March 26, 2018.
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Top Stories
We initially meant to talk about a study just released by the Pew Research Center that reported that a quarter of Americans are online almost constantly, coupled with an experiment by ABC News that showed what happens when kids have no screen time limits for 48 hours. Taken together, both pieces indicate the potential damage that technology can do to us, without proper oversight.
And while that point still remains, there's another story that has dominated the news cycle for the past week that also addresses the intended and unintended consequence of unmonitored technology: the Cambridge Analytica / Facebook story. In case you've been disconnected, here's everything you need to know about the issue. Let's be clear about one thing: this was not a data breach; this was an exploitation of what Facebook had made available; it's something that marketers were aware of and using themselves and it's far from being unique to Facebook: it's Amazon, it's Angry Birds, it's eBay –it's every service you use that's free.
Companies are guilty of giving away their own data or access to data about their customers as well. Any company that has made its products available on Amazon loses the opportunity to have a 1:1 relationship with them. By pouring money into Facebook advertising rather than your own email marketing database, they miss the obvious opportunity to speak directly with their customers. They let the middleman own the process and the data (because it's easier) rather than take on the responsibility themselves. This is exactly why we counsel our clients to #OwnYourData.
We're either woefully ignorant about the terms of service or end user license agreements (EULAs) that we "agree" to, with as much thought as a swipe right or left, or we're willingly giving up our rights in exchange for the free use of a platform. As Shelly Palmer wrote, "we [as a society] need to raise our level of data maturity." When the regulatory process begins – and it will begin soon – we need to do it from an informed perspective.
We've got more to say on Facebook's response and what it says about their leadership later this week. Please subscribe to the Brain+Trust Partners blog to be updated when it's published.
We have a number of other articles on this issue in the Top Stories section of The Full Monty on Flipboard.
And while that point still remains, there's another story that has dominated the news cycle for the past week that also addresses the intended and unintended consequence of unmonitored technology: the Cambridge Analytica / Facebook story. In case you've been disconnected, here's everything you need to know about the issue. Let's be clear about one thing: this was not a data breach; this was an exploitation of what Facebook had made available; it's something that marketers were aware of and using themselves and it's far from being unique to Facebook: it's Amazon, it's Angry Birds, it's eBay –it's every service you use that's free.
Companies are guilty of giving away their own data or access to data about their customers as well. Any company that has made its products available on Amazon loses the opportunity to have a 1:1 relationship with them. By pouring money into Facebook advertising rather than your own email marketing database, they miss the obvious opportunity to speak directly with their customers. They let the middleman own the process and the data (because it's easier) rather than take on the responsibility themselves. This is exactly why we counsel our clients to #OwnYourData.
We're either woefully ignorant about the terms of service or end user license agreements (EULAs) that we "agree" to, with as much thought as a swipe right or left, or we're willingly giving up our rights in exchange for the free use of a platform. As Shelly Palmer wrote, "we [as a society] need to raise our level of data maturity." When the regulatory process begins – and it will begin soon – we need to do it from an informed perspective.
We've got more to say on Facebook's response and what it says about their leadership later this week. Please subscribe to the Brain+Trust Partners blog to be updated when it's published.
We have a number of other articles on this issue in the Top Stories section of The Full Monty on Flipboard.
Artificial Intelligence / Autonomous
The latest in AI, machine learning, bots, and blockchain, mobility, and autonomous everything.ARTIFICIAL INTELLIGENCE / MACHINE LEARNING
- Where are venture capitalists looking to put their AI and machine learning money? These are the hot areas for 2018.
- Career path advice: if you'd like to become a data scientist, you should know these 10 machine learning algorithms.
- A look at what Alphabet's Deep Mind learned about neurons that generalize versus memorize, and how difficult it may be for humans to ever understand AI. We can't even fully understand other humans.
- China isn't beating the US at AI yet – and may never catch up. Why? US and Canadian AI researchers retain an advantage in what is a futurist field that requires serious conceptual skills, namely because they can do whatever they want. Chalk one up for Western independence.
- Alexa, Google Home, Siri, and Cortana will learn to adjust to your changing life. At SXSW, a panel discussed the future of AI assistants.
- Amazon is hiring over 1,100 developers for Alexa – that's more than Alphabet is hiring for everything.
- Why was Siri dumb for so long? Hint: she missed Steve.
- A group of engineers at Toyota created a robot that's better than you at basketball. All I want it a robot that picks my NCAA brackets for me.
AUTONOMOUS / MOBILITY
- An autonomous Uber vehicle (one that had a human driver behind the wheel) struck and killed a pedestrian in Arizona. Uber promptly put the entire autonomous program on hold.
- John Krafcik, CEO of Waymo, Alphabet's autonomous vehicle unit, says that the company is dedicated to safe self-driving technology. Waymo has not removed its driverless vehicles from operation in Phoenix.
- A new report highlights that GM's autonomous acquisition Cruise has some limitations to address, including tunnels, U-turns and two-way residential streets.
BLOCKCHAIN
- Beginning in June, Google is banning all ads for bitcoin, cryptocurrency, and ICOs.
Communications / Marketing / Business Strategy
STRATEGY / MARKETING / CONTENT
- Google and Facebook may see their digital advertising duopoly shrink, with Amazon and Snapchat beginning to make some gains.
- With its new attribution tool and wooing of buyers, Amazon may very well turn it into a triopoly.
- Continually developing new content can be difficult, for individuals and teams alike. Here are 33 ways to stay creative when your content ideas run dry.
- If you create a newsletter (as we do), here are some methods to get and keep your readers' attention.
JOURNALISM / COMMUNICATIONS / REPUTATION
- The annual Harris Poll Reputation Quotient survey is out, and only three of the top 10 most reputable brands are tech companies. Can you guess which they are?
- Are influencers really that influential?
Retail Apocalypse
Humans are a transactional species, and the practice — if not the very notion of what retail is — is undergoing a historical metamorphosis.
- Amazon: America's corporate nightmare. Amazon is getting its tentacles into many industries. With a head fake, it can affect markets and topple stock prices.
- While Amazon Go may have grabbed the headlines, here are four retail trends that are coming sooner.
- Kroger is rolling out home delivery in conjunction with Instacart. And don't look now, but Kroger is considering merging with Target.
- Walmart plans to expand its online grocery delivery service to roughly 800 stores by the end of the year, as competition continues to ramp up in the digital grocery aisle.
- You can buy a car at Walmart, thanks to the company's arrangement with CarSaver.
- Toys 'R Us is a cautionary tale for any company that is considering a leveraged buy-out. That's right - their failure is not because they didn't "innovate."
- The retail apocalypse is being fueled by private equity firms that saddle these companies with too much debt.
- With last week's purchases of mobile apps BevyUp and MessageYes, Nordstrom joins a growing list of retailers that are turning to acquisitions to help boost retail operations. Spot the trend: Target bought Shipt late last year; Walmart acquired Spatialand in February; Kroger has attempted to woo Boxed.
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Platforms
News to know about relevant social, virtual, and augmented reality platforms that may affect your business.- Twitter is preparing to prohibit a range of cryptocurrency advertisements amid looming regulatory intervention in the sector.
FACEBOOK / INSTAGRAM / WHATSAPP
- Sources say Facebook's chief information security officer Alex Stamos is leaving company amid disagreements with top execs over how the company should deal with the spread of disinformation. Or perhaps it was in advance of the Cambridge Analytica crisis?
- Facebook wants more video creators to compete with YouTube, so it’s rolling out a subscription feature. The company will soon let you subscribe to your favorite creator for $4.99 a month.
- Facebook is preparing to launch its News for Watch this summer.
- Instagram has listened to user feedback: the platform will soon show more recent posts due to the backlash about its algorithm.
- What do we want ?— Neon Trotski (@Bluecookie) March 15, 2018
- A chronological instagram feed !
- When do we want it ?
- 2 hours ago !
- 18 hours ago !
- Sponsored post !
- 43 minutes ago !
- 2 hours ago !
- Sponsored post !
- 15 minutes ago !
- Account suggestion !
- 1 hour ago !
- 15 hours ago !
- Sponsored post !
ALPHABET / GOOGLE/ YOUTUBE
- YouTube plans to use Wikipedia to fact-check conspiracy videos. It just didn't tell Wikipedia about that before making a major announcement. Fake news!
- And in a more broad context, Google launched the Google News Initiative to fight misinformation and support journalism.
- Google put a stop to 3.2 billion bad ads in 2017, up 88 percent from 2016. Either the ads got much worse last year, or Google's detection system was that much better.
Media
The latest in the world of streaming video, audio, and the advertising, pricing and bundling models related to them.VIDEO
- NBC News revealed a new digital strategy, including a streaming platform for younger viewers. The company looks at its strategy in terms of open and closed platforms – open being the likes of YouTube, Facebook, Twitter, etc.; and closed being Snapchat, Hulu, Netflix, etc. It's an interesting approach to watch – one that other news networks may want to emulate.
- Walt Disney has created a new unit for its streaming video and international businesses as the company retools its traditional media operation for a world rapidly embracing online video.
- If you're in search for something to watch, choose from 47 documentaries on Netflix that will make you smarter.
AUDIO
- iHeartRadio's parent company is filing for bankruptcy. It has about $20 billion of debt on its books after a $17.9 billion leveraged buyout by private equity in 2008 just before the financial crisis slammed business. See? Another LBO.
- Apple Music's Jimmy Iovine says that streaming music services are too similar – and like their video counterparts, need to feature different content.
- Is Spotify the next company to get into smart speakers? Spotify is testing voice commands with a small group of users.
- Program of the Week: This week's show is the Waking Up Podcast. Join Sam Harris –neuroscientist, philosopher, and best-selling author – as he explores some of the most important questions about the human mind, society, and current events. Do you have a program to recommend? Add yours to our Google Sheet: smonty.co/yourpodcasts.
Don't forget to subscribe to The Difference from Brain+Trust Partners!
Regulatory / Security
Business disruptions in the legal, regulatory, and computer security fields, from hacking to the on-demand economy and more.SECURITY / HACKING
- Cyberattacks by Russian hackers put them in proximity of power plants and water and electrical systems, with the potential to take them down.
- Just when you thought the Facebook / Cambridge Analytica story couldn't get worse for Facebook, it was revealed that Facebook has been collecting call history and SMS data from Android devices.
- As this crisis continues its slow burn, we may see an increased call for more privacy among the likes of Facebook, Google and others.
- Sheryl Sandberg, Facebook's COO, says that regulation of Facebook is not a matter of if, but what type and when.
- More stories on the Facebook topic can be found in the Regulatory / Security section of The Full Monty on Flipboard. Click through to see them.
ON-DEMAND ECONOMY
- Uber launched Freight Plus to address some of the more expensive aspects of owning and operating a transport vehicle. Savings will come through discounts on fuel, tires and repairs.
- Lyft confirms it has been testing subscriptions for rides for the past few months, starting at $199 for 30 rides a month.
- Ride-hailing apps generated 65 percent more rides in New York City than cabs in 2017. Ride-hail drivers now pick up more passengers in a month than taxi drivers ever have in a month.
- Airbnb doesn’t just want to be a home sharing platform. It wants its app to turn every day of your life into a vacation. But it doesn't yet have mainstream appeal.
Measurement / Analytics / Data
The future is not in plastics, but in data. Those who know how to measure and analyze it will rule the world.- Many marketers continue to outsource their data management. But new GDPR regulations mean that marketers have to familiarize themselves with new types of tech vendors like customer data platforms, which exclusively focus on managing and storing first-party data. #OwnYourData
It's time for marketers to get familiar with CDPs. Click to tweet this.
- You ask, Christopher Penn answers: what are some unique ways to measure "meaningful interactions"?
- Check out some of the amazing ways Instagram uses big data.
- If you want a better customer experience, improve your data analysis. And be sure that you address the fragmentation of your data points in the process. #GoldenCustomerRecord
Mental Nourishment
Other links to help you reflect, improve, or simply learn something new.- Introverts are natural disruptors. It seems counter-intuitive, but they are. They're naturally comfortable where other people aren't.
- And if you'd like to be where other people aren't, start embracing the power of saying 'No.'
- This will be the top business skill of the next five years. It all begins with a simple hook of the imagination...
- Consider the leaders you admire, and it's likely that they exhibit at least some of these four habits of ultra-likable leaders.
- We've said before that great leaders display a high EQ, or emotional intelligence. Do you stack up? Check these 13 signs of high emotional intelligence.
- And as long as you're focused on leadership and development, you should watch the 12 best TED Talks of all time.
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March 26, 2018
artificial intelligence, autonomous, crisis, Facebook, measurement, newsletter, regulatory, retail, trends
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