#understil 7: Conked Out and Stoked

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. 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. 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. 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
    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. 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
    1. History 🙂

  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