Trust, Belonging & User Economics – George Siosi Samuels
As trust and transparency become greater hallmarks of our increasingly globalized society — have a read of this article on Blockchain, Bitcoin & The Age of Aquarius — we will start to see more shifts in what constitutes “success” for business. Bitcoin, as we’ve said multiple times before, has a vision that truly transcends much of what exists in the marketplace. It seeks to be honest money (via an immutable public ledger that solves the infamous double-spend problem) to pave the way for more honest business, governance, and usage. In our opinions, any attempts to anonymize Bitcoin, will not last in the long run (as demonstrated in the past with the likes of DigiCash and e-gold).
In a recent tweet by Anil Dash, a statement he made confirmed my hunches that businesses of the future are going to want more “community” because it takes us back to basics/fundamentals: trust, belonging, and a sense of community. Echoed again in companies like (check out their book The Airbnb Way). Businesses have an opportunity to provide that sense of community (properly) because it is where people spend most of their working lives. Companies are the new village, which transcend national borders.
User economics — versus product economics — is what gave rise to SaaS companies, metrics such as LVC (Lifetime Value of Customers), and even the “shared economy” concept. If companies and investors continue to look at the short-term (understandably anyone in business needs to make money), in this new world of ours, it will be lost as quickly as it is gained. And with that, an antidote is to go back to what once was: building things that last.
Published at Thu, 07 Nov 2019 13:02:23 +0000