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#understil 7: Conked Out and Stoked

By Nick Hodge | April 16, 2009

Great show, and I hear the chat was hum­ming to. Major ups to @duncanriley for spend­ing nearly 2 hours with me online in a wide-ranging dis­cus­sion. I hope y’all learnt something!

Show Notes

Good even­ing! Wel­come to #under­stil, “Conked Out & Stoked

 

 
  1. [at 8:30pm] The Over­ture
    1. Tonight we have spe­cial guest: @duncanriley
      1. Duncan Riley, Man­aging Editor, Inquisitr.com
      2. Also weekly column in crikey.com.au
      3. Notice you are nearly a year old
      4. How many story leads from twitter?
    2. Meta-backchannel Pro­du­cer is Dekrazee1: thanks! dir­ect Qs to her in the chat, and we’ll get ‘em sent to us via the meta Backchannel
    3. As there is no Stilgher­rian Live, we’ll see where this ends up tonight. Aim to fin­ish at 9.30pm. But with Duncan, who knows? 
    4. I know we are com­pet­ing with Jon Hamm and Mad Men :-)
    5. Red Cor­dial Cath­arsis was good for me: got lots of energy into work­ing out what is going on at work, and in this weird space
    6. shout out to @Delic8genius for being a sound­ing board, with some think­ing and support
    7. @fibendall on @cameronreilly also poin­ted out what is miss­ing in the local SM industry: how to get employ­ees onto SM, safely 

    8. This show, I intend to stick to the knit­ting: The Employee Exper­i­ence of Shar­ing, and other ran­dom­ness with @duncan­ri­ley
      And cover some other streams from pre­vi­ous shows and creek beds I’ve waded through 

    9. Next week: Anzac Day week: “The Lost Uncles” … 4 per­sonal stor­ies, not geo­pol­it­ics
      1. more than just Gal­lipoli and the Anzac Birth of a Nation Legend
      2. Not Kokoda. One is a defeat, the other a win. 
      3. step through the exper­i­ence of 4 per­sonal stor­ies, 3 WW1 and 1 from WW2 

    10. @duncanriley: any fam­ily involved in any AU wars?
    [at 8:35pm] Conked Out & Stoked
  2. Who did their home­work?
    1.  
      1. Apple and SM … strict policy vs MSFT … open
      2. (cf Cluetrain)
      3. Are Apple’s products good enough to speak for themselves?
      4. What hap­pens when they have an #amazon­fail (they’ve had a few, @stevejobs replied to: eg, iPhone price drop of US$200)
      5. @duncanriley .. your thoughts? did you do your home­work? 

  3. The Six Ten­ets  for Employ­ees in Social Media

 

  1.  
    1. The com­munity expect Trans­par­ency and Hon­est Voice
    2. You are always on. No mat­ter the day/time, people will expect you to be a rep­res­ent­at­ive when called upon
    3. You are still a per­son: That said, organ­isa­tion much leave lee-way for people to be people. Dur­ing and after work hours. Being a face means your face is first, not the brand
    4. You are just a single voice. Each SM voice is just a voice; not the formal pos­i­tion; just a voice in the caCO­phony from the organisation
    5. Listen­ing: Maslow: every SM inter­ac­tion is tain­ted by your per­sonal self-interest; pay etc. This is nat­ural. There will be conflicts
    6. It is about your Repu­ta­tion. Asso­ci­ation with a lar­ger organ­isa­tion is about Repu­ta­tion / Con­gru­ence / same wavelength?
      1. @dek: selling your soul to a large organ­isa­tion; what does this really mean? (dek sez: Not quite selling your soul, but when someone with a repu­ta­tion, who was inde­pend­ent pre­vi­ously, joins up with an organ­isa­tion to use their fame/notoriety to spread the word, I don’t know how to react to them any more. I don’t know where they end and where the corp starts. There is an ele­ment of trust erosion — scep­ti­cism comes into play. Eg — Scoble with his new gigs last year and this year.)
  2. Social media: no dif­fer­ent to real world?
    1. vs: four sci­ent­ists sub­mit­ted papers to the Sen­ate Com­mit­tee on the Car­bon Pol­lu­tion Reduc­tion Scheme (CPRS, which includes the ETS
      1. http://www.aph.gov.au/senate/committee/economics_ctte/cprs_09/submissions/sublist.htm
      2. (they are CSIRO employ­ees, vs. policy)
      3. The rebel sci­ent­ists can­not com­ment on their decision because they are pub­lic ser­vants. But a CSIRO source said they could risk cen­sure and pos­sible career reper­cus­sions by tak­ing such a pub­lic stand against the Government’s con­tro­ver­sial green­house reduc­tion targets.
      4. http://www.canberratimes.com.au/news/national/national/general/csiro-climate-experts-defiant/1486721.aspx
    2. @duncanriley: notice you did a sim­ilar thing when we tested the audio…
      1. what was it that you made that con­nec­tion? is it just in there?
  3. Social Media. Blerk. Blerk. Blerk.
    1. From ‘social media’ (tech­no­logy) to ‘shar­ing cul­ture’ (activ­ity)
    2. shar­ing. con­vers­ing. know­ledge shar­ing. hyper­in­tel­li­gence. hyper­con­nectiv­ity
      1. I notice Mark Pesce has shif­ted from Hyper­con­nectiv­ity to Hypershar­ing
      2. ref­er­ence @mpesce share this lec­ture: http://blog.futurestreetconsulting.com/?p=125
    3. shar­ing cul­ture is world where people use inter­net tech­no­logy to share (read/write. write=share)
    4. We are inform­a­tion rich; time poor. By timely shar­ing, we save time.
    1.  
      1. suc­cess of Google, and why twit­ter works as ‘lazy web’
      2. shar­ing is a part of our nature: we tell stories
      3. shar­ing of stor­ies: Abor­ginal dream­time (cul­ture), Arthur­ian Legends (culture)
      4. usu­ally, held back inform­a­tion (inform­a­tion is power)
        1. now, inform­a­tion is largely free. 5 minute expert on >2million top­ics, thanks to the wiki­pe­dia hive-mind
      5. Time is the new power
    2. maybe, by just shar­ing, the rela­tion­ship between people will change. will change the organ­isa­tions and sys­tems that exist today
    1. http://www.hydrapinion.com/index.php/work/2009/04/13/will-someone-please-burst-the-twitter-bu (Ian Grayson)
      1. Not burst­ing the bubble, but stop­ping the shyters
      2. easy: just don’t fol­low them. Leave in the people you want to listen to
      3. Get­ting out of our play­ground. Pass­ive aggress­ive? Just the nat­ural extension
    2. bene­fits arise from those who share. Listen to them.
  4. The Chal­lenge for Agen­cies and Tech­no­logy Com­pan­ies
    1. This is not a tech­no­logy sell. You can­not buy “a social media” no more than you can buy a “web 2.0″
    2. This is a cul­tural change pro­cess; it must be an embed­ded part of the cor­por­ate culture
    3. This is not a part of Cor­por­ate Affairs/PR (directly)
    4. As per @fibendall, this is best handled by com­mit­ted cust ser­vice people; or out­side enthu­si­asts — with coach­ing (PR)
    1. With clear guidelines
    2. @duncanriley: what is the pulse from the US?
       
  5. Tonight’s case study: #amazon­fail … where are the social media respond­ents from Amazon?
    1. http://markprobst.livejournal.com/15293.html (ori­ginal source) anonym­ous “Ash­ley D” from #amazonfail
    2. http://www.publishersweekly.com/article/CA6651080.html
  6.  
    1. #amazon­fail twit­ter storm, blog­ger storm: not going to com­mon on the root issue.
    2. http://www.inquisitr.com/21785/amazonfail-how-one-company-will-lose-millions/ (6% loss over 2 days; NASQ largely stable) — future quar­ters will show if any rev­enue impact.
      1. @duncanriley: I’d be selling AMZN stock when the NASDAQ opens Monday morn­ing US EDT if you hold any, if not for the hit on sales they’re about to take, but because they were stu­pid enough to do this in the first place, whether you agree with the polit­ics or not.
    3. http://neteffect.foreignpolicy.com/posts/2009/04/12/amazonfail_and_the_politics_of_anti_corporate_cyber_activism
    4. the shit­storm in the social media space, without com­ment on the con­tent. The response.
    5.  http://blog.seattlepi.com/amazon/archives/166384.asp?source=cmailer
      1.  
        1. Pulled in senior people (Sev-1) error 
        2. “I’ve spoken to an Amazon.com employee who works closely with the sys­tems involved in the glitch. The employee asked me not to share his name because of com­pany policies on talk­ing with the media.”
        3. watched it unfold within the organ­isa­tion, and extern­ally on twit­ter
    6. ‘glitch’

      1. MSM response from msm-PR. OK, but not the only response
      2. ~50-60K books clas­si­fied as Adult
    7. the issue is the impact on the repu­ta­tion of Amazon. Less trust. More dif­fi­cult to meas­ure, but not impossible
    8. oh, it doesnt mat­ter: social media is small (wrong)
    9. oh, it doesnt mat­ter: it will not effect us fin­an­cially: the jury is out, but poten­tially less than the pun­dits might say
3. CONKED OUT
    1. His­tory :-)
        http://www.ft.com/cms/s/0/0220b174-eb98-11dc-9493-0000779fd2ac.html?nclick_check=1

  1. Indi­vidu­als vs. Com­mon Good (Gold­man Sachs $5b share offer » off TARP » get indi­vidual salar­ies)
    1. http://www.bloomberg.com/apps/news?pid=20601087&sid=a276IqV3sdnc&refer=home
    2. “return the $10 bil­lion it received in Octo­ber from the U.S. Treasury’s Troubled Asset Relief Pro­gram and shake off com­pens­a­tion and hir­ing restric­tions imposed on banks that took gov­ern­ment aid.”
    3. Chief Exec­ut­ive Officer Lloyd Blank­fein
  2. @duncanriley: small-l lib­eral, neo-libertarian, neo-liberalist: what is your per­spect­ive on #gfc
  3. Rat­ings Agen­cies
    1. http://finance.yahoo.com/news/SEC-chief-need-tighter-apf-14938817.html
  4. Gen­eral Mar­ket
    1. The Fed’s snap­shot of busi­ness con­di­tions around the nation sug­ges­ted that a slide in areas like man­u­fac­tur­ing could be slow­ing.
      1. http://finance.yahoo.com/news/Hints-of-stabilizing-economy-apf-14939304.html
  5. Credit Mar­kets
    1. Credit? what is it and why does it need 
    2. @duncanriley: can busi­nesses star­tup and sur­vive without credit?
    3. frac­tional reserve bank­ing: keep­ing cer­tain amount of hold­ings vs. loan­ing out
    4. Mark Aniel­ski as well as some polit­ical thinkers such as Row­botham and some eco­nom­ists (such as Hyman Min­sky) argue that this sys­tem of money sup­ply has char­ac­ter­ist­ics sim­ilar to a pyr­amid scheme, where the newly indebted are com­pelled to induce oth­ers into debt to pay off their own debts.[41] It is there­fore argued by a num­ber of mon­et­ary reformers that frac­tional reserve bank­ing and the asso­ci­ated expo­nen­tial growth of money in the eco­nomy “forces” the eco­nomy towards indebted con­sumer­ism.[19]
    5. http://en.wikipedia.org/wiki/Minsky_moment (august 2007) … debt vs. fin­an­cial spec­u­la­tion (housing)
    6. The cur­rent prob­lem, accord­ing to Pres­id­ent Obama is the lack of credit in the system
    7. In con­trast, a liquid­ity crisis is triggered when an oth­er­wise sound busi­ness finds itself tem­por­ar­ily incap­able of access­ing the bridge fin­ance it needs to expand its busi­ness or smooth its cash flow pay­ments. In this case, access­ing addi­tional credit lines and “trad­ing through” the crisis can allow the busi­ness to nav­ig­ate its way through the prob­lem and ensure its con­tin­ued solvency and viab­il­ity. It is often dif­fi­cult to know, in the midst of a crisis, whether dis­tressed busi­nesses are exper­i­en­cing a crisis of solvency or a tem­por­ary liquid­ity crisis.
  1. Post-traumatic Stress
    1. The stress the west­ern world exper­i­ences as it has not got a cul­ture of stress
    2. Usu­ally life is bru­tish and short. There are no hos­pit­als, no gov­ern­ment look­ing after you. Life on the whole is pretty darn grim for major­ity of the population.

    3. Here we are dis­cuss­ing “ETS” “NBN” and other things on our minds

    4. Philo­sopher John Gray: ‘We’re not facing our prob­lems. We’ve got Prozac politics’

       

    5. http://www.independent.co.uk/news/world/politics/philosopher-john-gray-were-not-facing-our-problems-weve-got-prozac-politics-1666033.html

      1. “But the actual response, I think, and this is partly to do with the way demo­cracy works and the way the mass-media works, is to avoid con­front­ing these admit­tedly intract­able prob­lems, because there is actu­ally under­ly­ing des­pair. It’s Prozac polit­ics. If you say actu­ally, pos­sibly, we’re past the tip­ping point for pre­vent­ing a two-degree change. That’s des­pair: ‘I can’t get out of bed. I’ll get drunk. I just can’t take it.’ So it’s a very fra­gile men­tal resi­li­ence we’ve got here.”
  2. @duncanriley: are we head­ing for a new system?
    Yes, the #gfc is still here.
    Yes, next stage is the devalu­ation of hous­ing prices in AU, espe­cially if first home buy­ers scheme is cut back; super changes (less prop­erty trust invest­ments) and unem­ploy­ment rises too far.
    The impact will be in the high end first.
    @duncanriley: your predictions?
    1. Next week: Anzac Day week: “The Lost Uncles” … 4 per­sonal stor­ies, not geo­pol­it­ics
      1. more than just Gal­lipoli and the Anzac Birth of a Nation Legend
    Don’t for­get to thank @deks and @duncan

 

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