Last week I went to the CSFI breakfast event and it was great. I’ve been to a CSFI event before (I was one of the panellists), but it was a different format back then.
Last week we went through a document of web links and discussed each one. It was much more interesting than it sounds. Jemima Kelly, the FT journalist who wrote many of those articles was one of the panellists.
What’s in it for anyone except for Facebook? (Left unanswered but with some good points made:
It could be extremely disruptive and put massive pressure on the big currencies, making them look volatile.
Governments will try to squash it – and if they do, Facebook might use this as an opportunity to show that it’s not evil.
Facebook needs to find another revenue stream other than marketing, this might be the first.
I was working on a piece of work recently with a colleague about the retail industry. Our thinking was moving into fast fashion, or more like “fast retail” – a made up term describing the sales of low-cost goods increasingly quickly, probably through subscription channels.
We started to consider the counter this trend, but the following piece was dropped. I recently picked it up again when I saw an article about UK retail sales.
There’s usually a counterculture that either stops, or prolongs, a trend. With retail sales it might be a combination of Minimalism, the book and Netflix documentary; and Marie Kondo or KonMari – her process of tidying up to create joy. (If that sentence looks peculiar, then watch one of the programmes to get the picture).
Minimalism and Marie Kondo both recommend buying fewer high-quality goods rather than lots of poor-quality goods.
Maybe this explains the increase in charity shop purchases. In the Guardian article, Paul Dales, chief UK economist at Capital Economics, said “…households still have the ability to spend and remain the strongest part of the economy.” In other words, people are choosing to go into charity shops over buying brand new goods. Continue reading Countering fast retail→
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It’s been an interesting week at Netflix, with US subscribers falling by 120,000.
Another interesting piece of Netflix news has been about password sharing. According to analysts MoffettNathanson, 14% of Netflix subscribers share their password, and only 6% share their Amazon password to access Prime video.
The reason why password sharing on Amazon Prime is much lower than Netflix is probably because it’s easy for a friend to purchase an Amazon product once you give them your password. Possibly just as undesirable – it’s straightforward for people to review purchases on your account once you have given them your password!
I’ve been asked a few times this week, why Netflix and Amazon don’t clamp down on password sharing. I think the answer lies with a comment from Spotify.
Think of those Netflix users who are using someone else’s password as ‘freemium’ subscribers. Spotify encourages freemium (non-paying, or trial) accounts to learn “that music is an important part of their life worth paying for”. And consider the data from those listeners, how Spotify can “learn from the biggest possible group of music fans in the world.”
Freemium places a user on the path to a sales conversion. It’s a far better path than traditional or digital marketing channels. When people share a password, it shares the value of the product, that might want to make them ultimately go and buy the product.
The premise was simple. Given the hype around digital you might be excused for thinking that you need to re-platform everything, rip out what you currently have – and start again – to remain relevant in the modern insurance market.
Especially given the threat from fleet-of-feet start-ups operating with a clean piece of paper and no legacy technology.
But it should not be forgotten that as a legacy organisation you have a number of things that start-ups would love to have. Including data and customers, and that is just for starters.
In the UK, 5.5 million homes (around 20% of all homes) now possess a voice activated assistant.
20 per cent of 3-5-year-olds now own their own iPad.
Google and Facebook have more than a fifth of the world’s advertising spending (they have 50-60 per cent of digital advertising spend).
The terms and conditions for Amazon’s Kindle are 73,198 words long and would take around 9 hours to read. I checked this out (link) and the terms are made up from 20 documents, plus the privacy notice.
Compared to the 400 deaths per year from terrorism, more Europeans drown in their own bathtubs, and ten times more die from falling down the stairs.
It’s time for my annual blog/ RSS feed clean up, and to share my preferred thought-provoking digital news feeds:
1. Chris Matts (The IT Risk Manager). Chris regularly updates his blog with practical advice for technology teams and senior managers such as “executives and transparency”, and he focusses his agile transformation articles on business managers rather than technology teams. That said, there are also a fair number of more technical articles about automated testing and development. https://theitriskmanager.wordpress.com
2. Doc Searls. Doc has several interests, mainly in privacy, photography and technology. Whilst I don’t agree with his extreme views on privacy and anti-advertising, his blogs and other feeds are very interesting to read occasionally. http://blogs.harvard.edu/doc/
Tesla stock was $312 on New Years Day 2018 and finished the year at $333, so on the face of it, the prediction was incorrect.
However, on 7 August, Elon Musk made the headlines by tweeting that “funding secured” at $420. The share price jumped 10% to $379. He was personally fined $20 million, and the company was fined the same amount.
Two months later, the stock was $250. The stock has been relatively volatile since then, climbing back to $376 and back down to $333.