0:00

In. Nineteen Ninety. After more

0:02

than fifty years of

0:05

building it, the Annenberg

0:07

family sold Tv Guide

0:09

Magazine. They. Sold it.

0:12

For. More than three billion

0:14

dollars. At the time. The.

0:17

Flimsy little magazine that

0:19

told people what was

0:21

on television. Was

0:23

worth more. Than. A

0:25

B C. C. B S.

0:28

Or. N B C. The. Very

0:30

networks it was covering. College,

0:33

you are it. Sneak in Fukuoka,

0:35

Japan and this is a special

0:37

archived episode of Akimbo. That's.

0:44

Crazy. How could it

0:47

be that a directory of

0:49

what's on television. Could. Be

0:51

worth more. Than. Television.

0:54

Well. Fast forward less than twenty

0:56

years. I am walking to Union Square

0:59

in New York City and wearing a

1:01

Google t shirt. Google was a pre

1:03

new company at the time I got

1:06

in the t shirt because I've done

1:08

a gig with them and from across

1:10

the farmers' market, hundreds of people across

1:13

this woman. Yells. Out. google.

1:16

Do. You work a google. google.

1:19

Is. My best friend. And

1:22

she runs right up to me. What?

1:24

No, I didn't work at Google and

1:27

therefore I was into best friend. But.

1:30

How could it be? That a

1:32

search engine could create so much

1:34

value for a single user? It

1:37

turns out. That. The magic trick

1:39

that Google figured out how to

1:41

perform. Was. Priceless to

1:44

billions of people. The.

1:47

Idea. That you could

1:49

very quickly. And. Fairly

1:52

reliably. Find.

1:54

Unlimited amounts of information, For

1:57

free. Was. Ears.

2:00

The ball. And. So. google.

2:02

Has grown and as Google

2:05

has grown. It

2:07

has changed our culture in

2:09

ways large and small. We.

2:11

All live in google world

2:13

whether we want to. Who.

2:15

Are not and most people

2:18

don't really understand how google

2:20

makes all of that money

2:22

and even though we interact

2:24

with it all the time.

2:27

We're. Not really aware of

2:29

how it is impacting so

2:32

many of the institutions cultural

2:34

or business wise set it

2:36

engages with so. Here's.

2:39

A little bit of an overview. The.

2:41

First thing is this. That.

2:44

More than a trillion searches

2:46

a year happened on Google.

2:49

What? That means is that on

2:51

average. google. Makes about a

2:53

tenth of a penny from every search

2:55

that's done. How do they do that?

2:58

They do that. By. Running permission

3:01

based adds next to those

3:03

search results. In essence, they're

3:05

delivering anticipated personal and relevant

3:08

messages that match up what

3:10

the person was searching for.

3:13

Now. Most of the searches they don't

3:16

make anything on because you're not clicking

3:18

on one of those ads. But when

3:20

you do click on one of those

3:22

ads, they might make three dollars. Five

3:24

dollars, even Eighty dollars a click depending

3:26

on what it is you're clicking on.

3:28

They also make money from ads for

3:31

they place on other sites, but that's

3:33

a different category of revenue for them

3:35

because they don't have nearly as much

3:37

control, nor do they get to keep

3:39

all of the income that's coming in.

3:42

It was a brilliant idea. Bill Gross

3:44

and Overture were one of the people

3:47

who pioneered it. But the idea that

3:49

you could show up with an ad.

3:51

At someone paid for. That

3:54

matched what you just search for. His

3:57

A really big idea. It is a

3:59

form of. Direct marketing at

4:01

brand marketing that has grown

4:03

like crazy. Google

4:05

God it to catch on. With. A

4:08

brilliant strategy. Those ads

4:10

used to cost a penny, two

4:12

pennies, a nickel, a click. So

4:15

if you sold an item,

4:18

Where. It was worth ten. Or twenty or

4:20

thirty five hundred dollars. For. Someone

4:22

to buy something for you. And

4:24

you could buy the attention. Of

4:26

the surfer who just typed in the very

4:29

same you sold and you could buy it

4:31

for a penny or nickel. Gives.

4:33

Me All of them. This

4:36

idea. Give me all of them. Is

4:39

the holy grail of advertising you

4:41

don't need a salesforce, you just

4:43

have to have the seeing someone

4:45

wants an unlimited number? And

4:47

as soon as people started paying a nickel,

4:50

a click. Other people.

4:52

When. They googled themselves

4:54

saw. That. Their competitors.

4:57

Were. Buying some of the folks

5:00

they were hoping. Would. Click

5:02

over to their site instead. What

5:04

do you mean? people are going

5:07

to our competitor for just a

5:09

nickel bid Ten cents. And

5:12

so the auction is on. once we

5:14

know what it is worth, To.

5:16

Have someone click on an. We.

5:18

Are willing to bid up to a

5:20

penny less than that. Rather,

5:23

Than having our competitor. Engage.

5:25

In that auction. So.

5:29

Here's the first side effect of

5:31

Googles business model. If

5:34

it ends up being worth of hundred

5:36

dollars to you to get someone to

5:38

click over to your travel site. And

5:41

your competitor. His bidding. Ninety

5:43

Nine dollars. Your bid. Ninety

5:45

Nine Dollars And Fifty cents.

5:48

So. Where's your profit going? While

5:50

you used to keep a hundred

5:52

dollars in profit from every person

5:54

you sold to, now you're keeping

5:57

fifty cents And google. Is

5:59

keeping ninety? Nine dollars and Fifty cents.

6:02

Like a landlord. They're. Going

6:04

to take. Almost all of

6:06

the money off the table

6:08

as long as the market

6:10

is competitive Is someone else

6:12

also wants that? Click? Someone.

6:15

Else is also going to

6:17

bid on. So. Now

6:19

you see the pass. A hundred

6:22

and thirty six billion dollars in

6:24

revenue. Most of it straight to

6:26

the bottom line from a company.

6:29

Doing one? See. Offering

6:32

a magical search engine's second

6:34

x billions of people to

6:36

the information they desperately seek

6:39

and every time you use.

6:42

google. Makes. Money. The

6:44

more searches, the happier they are.

6:47

So. How do we explain all the

6:49

other things that Google does? Well

6:52

Googles mission they say is

6:54

to organize the world's information.

6:57

But in fact, Their. Business

6:59

mission is to have people

7:01

do a Google search. Doing

7:03

a Google search is where

7:05

they make almost all of

7:07

their profit. Perhaps eighty percent

7:09

of all of the paid

7:11

search advertising in the world

7:13

goes through this one company

7:15

in an auction where the

7:17

sales people don't have to

7:19

do very much at all

7:21

except soothe the people who

7:23

aren't winning the auctions once

7:25

you're hooked on it and

7:27

paying for this traffic. You

7:30

will keep paying for it. Because

7:32

it's still worth it to you. So

7:34

google see something like blogs. Blogs.

7:38

And I'm partial here. Are

7:41

a fun, free, easy way to

7:43

get information from a trusted source.

7:46

The best way. To. Read:

7:48

A blog is with something called

7:51

an Rss Reader And Rss Reader

7:53

bypasses the search engine. He just

7:55

lives on your device, your phone

7:57

or your laptop. And it.

8:00

You. Unimpeded, Uninterrupted all

8:02

of the blogs you want

8:04

to read. So Google

8:06

ads as Google Reader. It's free.

8:08

like everything Googles doing, and it

8:11

works. It's fast, it's well designed.

8:13

Go ahead, move the blogs you

8:15

like or the Google reader. They're.

8:18

On one page. You. Can

8:20

read how the blogs you want to. Guess.

8:23

What This does. This

8:25

depresses search. The.

8:28

People the most interested, highest status

8:30

people. The kind of people who

8:32

are reading blogs are going to

8:34

search last because you don't have

8:36

to go to Google and type

8:39

in blog or Sas or any

8:41

other topic to find the blog

8:43

the blog is coming to you.

8:46

That. Doesn't help search. Saw.

8:48

A few years into it. google. Shuts

8:51

down Google reader. Sending.

8:53

All of those blog readers either.

8:56

To. A more difficult to find Rss

8:58

reader or. Back.

9:00

To the search and. Think

9:03

about what happens if you search

9:05

for lyrics. Are I can't

9:07

get the my has scuse me while

9:09

I kissed this guy. What's that lyric?

9:11

if you type that into google. And.

9:14

It takes you. To a

9:17

site filled with detailed

9:19

discussions about lyrics. You're.

9:21

Gone. You're not searching for the

9:24

next thing you're looking for. On

9:26

the other hand, If Google

9:28

manages to scrape that

9:30

site or hire an

9:32

intermediary, And just puts the

9:34

answer right there on the page with no

9:36

clicking on your part. You're.

9:38

Gonna do. Another. google.

9:41

Search. And self bit

9:43

by bit. Topic by topic, Google

9:45

is cramming more and more onto

9:47

their page and not sending you

9:49

to a pace as far away.

9:53

When I worked at Yahoo in

9:55

the late nineties, Yahoos,

9:57

Mission was come to Yahoo.

10:00

And stay. Amazon's

10:03

mission was com to Amazon

10:05

and something. When

10:07

google came along. The. Giant

10:09

disruption in the early two

10:11

thousand was com to Google

10:13

and leave google. That.

10:15

Was their goal? To. Only three

10:18

buttons to buttons on the homepage.

10:20

At the time, Yahoo had a

10:22

one hundred and eighty eight buttons

10:24

on their home page, and of

10:26

the hundred and eighty eight, almost

10:28

all of them pointed to other

10:30

things you could do on Yahoo.

10:32

Yahoo hadn't figured out. How

10:34

to run the right kind of ads? They.

10:37

Were busy running banner ads. They

10:39

needed to generate billions and billions

10:41

of page views to make them

10:44

pay. google. On the

10:46

other hand, just wanted you to find what

10:48

you're looking for. And leave.

10:51

But. It's there to continue to grow.

10:54

They. Need you to do more and more

10:56

searches. And sell bringing

10:58

the concept back onto their

11:00

pages encourages you to do

11:02

that. A

11:04

little bit of an aside about this whole

11:07

idea of continuing to grow. Part.

11:09

Of the lore. Of the last twenty

11:11

five years. His it the best way

11:14

to hit Rich. His to work

11:16

for a fast growing public. Tech.

11:18

Company. Why? Is that? Most.

11:23

Of the people who are in senior

11:25

positions at these companies and I'll argue

11:27

that are more than ten thousand people

11:29

in a senior position at Google. Has

11:32

stock options. Stock. Options says

11:34

that one day in the future. You're.

11:37

Going to get some shares. That. You can

11:39

buy for x number of dollars. let's say

11:41

fifty dollars a share and on the very

11:44

same day that you can buy them from

11:46

us for fifty. As a

11:48

prize for working here. You. Can

11:50

sell them. At whatever the

11:52

stock market says, they're worth. Which.

11:55

Means that as soon as the stock

11:57

goes over fifty dollars. As.

12:00

The time. The. Stock goes

12:02

up a dollar. Your.

12:04

Stock options are was another dollar

12:06

each in value. says you're sitting

12:08

there holding a hundred thousand stock

12:10

options which is not that unusual

12:13

and the price goes up A

12:15

dollar. That means one day soon

12:17

you just made a hundred thousand

12:19

dollars to goes up ten dollars

12:21

you just made a million dollars.

12:24

So try to imagine what it's

12:26

like at a meeting at Google.

12:29

When. They have to make a decision. About

12:31

some, it's going to make their stock

12:33

price go up by five dollars. or

12:36

maybe even down by a dollar. You.

12:38

Look around the room. And every

12:41

single person in that room

12:43

knows what to multiply. The

12:45

increase in stock price by to figure

12:48

out what it did to their net

12:50

worth. So even if

12:52

the multi billionaires who run the

12:54

place decide to take a longer

12:56

term view deep down. There

12:58

are tens of thousands of people each

13:01

of these companies who are driven. To.

13:03

Figure out. How to make. The

13:06

stock prices go up. And

13:08

so we come face to face

13:10

with the Moto Tomato set first

13:13

appeared and google home page more

13:15

than fifteen years ago. Don't.

13:17

Be evil. Lots of

13:20

people claimed they made up

13:22

in this motto. He was

13:24

probably Todd, book Eight and

13:26

a meat Patel and their

13:28

idea was don't be Evil

13:30

means. Do. It on behalf

13:32

of the user. Give.

13:35

Users long term

13:38

pads dissatisfaction. Some.

13:40

People say it was in contrast

13:42

to Microsoft was the time was

13:44

a monopoly and wasn't giving people

13:47

a choice. So don't

13:49

be evil can mean lots of

13:51

different things. But. For a

13:53

long time it meant. Don't. Be

13:55

greedy. Give. People a

13:58

choice. Back to those. Music:

14:00

lyric, The

14:03

website, genius.com which has had a

14:06

fairly checkered past, is a site

14:08

where lots of people can chime

14:10

in and comment on the lyrics

14:13

to many songs, particularly rap songs,

14:16

And they did something really clever. Which.

14:18

Is they see did a code.

14:21

And all of the lyrics they

14:23

had on their paid so little

14:25

bit like morse code in the

14:27

way that they use certain characters.

14:30

Well. You guessed it. google.

14:33

Got busted. google. Was

14:35

stealing probably to a contractor. All

14:37

of the hard work the genius

14:39

had put in. In creating

14:41

the typed up lyrics which you could

14:44

argue were stolen from the people who

14:46

wrote the lyrics. but that's a whole

14:48

other discussion. What we know. Is

14:51

that? Googles. People. Incentive

14:54

to keep folks on the

14:56

site. Do. Things. Like.

14:58

Shut down Google reader. They. Do

15:00

things like include the lyrics

15:03

on their site instead of

15:05

sending you. To a site

15:07

where you can see them yourself. So

15:11

back to Tv Guide where we began.

15:14

Try. To imagine it's Nineteen Eighty Eight

15:16

and you are a Tv programmer and

15:18

you figure out how to make a

15:20

shot. Said Tv guide is really

15:23

didn't like and if Tv Guide really likes

15:25

it and put it on the cover of

15:27

their magazine. You're. Going to get

15:29

more viewers and if you get more viewers

15:31

you're going to sell more as if you

15:33

somewhere as. You're. Going to make more money.

15:37

That. Is where the power of

15:39

someone like Tv Guide comes from. Now

15:42

Google will bend over backwards to tell

15:44

you. They. Don't have somebody.

15:46

Who's. making editorial choices inside

15:48

of google. Is true.

15:52

But. There are more than

15:54

three thousand people working full

15:56

time. To program Google

15:58

search and. And there

16:01

is no human who knows

16:03

exactly how Google search engine

16:05

works anymore. It's too complicated.

16:07

Three thousand people working night

16:09

and day for decades create

16:11

quite a complicated algorithm. But.

16:14

What is also true? Is

16:17

that algorithm is making choices.

16:21

It may not make choices that you can influence

16:23

by taking it out for dinner. But.

16:26

Choices it makes and those

16:28

choices impact what website get

16:30

built. How they get but. What

16:33

Those? Website: Talk about. Around

16:37

the time of Googles ascendancy, A

16:40

craft called Se O began to

16:42

hit it's stride as Ceo stands

16:45

for search engine Optimization and at

16:47

the beginning the idea of as

16:49

Ceo was benign. Let's.

16:52

Organize our website so that

16:54

when Google visits it. It.

16:57

Knows what it's about because if we

16:59

can be clear for google about what

17:01

kind of person we want to come

17:03

here. Than. That kind of

17:05

person. Will. Find us! When.

17:08

They searching google. But

17:10

over time. People. Got a

17:12

little bit more hurried and lazy over time.

17:14

Sites got a lot more greedy. And

17:17

so a combination occurred. First, We.

17:19

Know that the vast majority more than

17:22

ninety percent of the people who do

17:24

a Google search never get to page

17:26

Two. Of the Google results, Google

17:28

is that good. We. Trust google

17:30

so much. Sits on the

17:33

first page, maybe assist in the first

17:35

two or three matches. That's enough. We.

17:37

Satisfies. We click through, were

17:39

done looking so even though

17:42

there might be eighty four

17:44

thousand matches, First. Search on

17:46

out and ba. You're. Only gonna

17:48

look at the first two or three

17:50

to what you are looking for. Which.

17:53

Means that you're the top of the search

17:56

results. You're going to get it on. Fair

17:58

share of attention. Which means

18:00

you gotta do everything you can. To.

18:03

Be at the top of the search results. And.

18:06

That leads to the blackout. Biggest.

18:08

Ones as C began to work. Company.

18:11

Study budgeting for it and if

18:13

companies want to be number one,

18:16

Fourteen. Of them are gonna lose. So.

18:19

People start looking for short

18:21

cuts, so people start changing

18:23

the site itself, so people

18:25

stuck resorting to paying other people

18:27

to linked to them, acting

18:29

in ways that make absolutely

18:31

no cultural or rational sense.

18:34

They simply exist to make

18:36

a mythical algorithm. Happy.

18:39

And when it's not happy, theories abound

18:42

as to what to do to make

18:44

it happier. and as soon as someone

18:46

starts doing some, it works. Everyone tries

18:48

to copy it so it will last

18:50

with. Is. A

18:52

cycle that was started by Google where

18:54

it looked at a system. Or

18:56

but nine. Sought. For system

18:59

is it tears web page. And.

19:01

It started to try to make guesses as to

19:04

what that web page was about. and so then

19:06

as Ceo shows up. And sharpens it

19:08

a little bit. And then Google

19:10

response to that and then as your response to

19:12

that end Google response to it and what we

19:14

end up with. His. Page after

19:17

page of the Internet. That.

19:19

Isn't organize for users anymore?

19:22

It's organized for this idea that

19:24

maybe we can get free traffic

19:26

from the website the people think

19:28

of as their best friend. That

19:30

maybe we can get the equivalent.

19:32

Of the cover of our edition

19:34

of Tv Guide, maybe we can

19:36

be swamped with a whole bunch

19:38

of people who want to show

19:41

up and. Okay,

19:43

another aside. As

19:45

the same time that all this is going

19:48

on. Email. Continues.

19:51

To evolve as a way to

19:53

contact people who want to hear

19:55

from you. The original permission marketing

19:57

medium anticipated impressed. A relevant messages

20:00

to people who want to get

20:02

them. For.

20:05

Last thirty years. The. Bad

20:07

guys have been going after email attention

20:09

as well because emails and open a

20:11

pr you don't need stamps. If you

20:14

format your email properly, use and put

20:16

as much emails you want into the

20:18

system. And so some

20:20

people do. Some people sent a

20:23

million or ten million emails a

20:25

day. Spam. Continues.

20:28

To be rampant. If

20:31

I have to and trust any amount

20:33

of money under your custody. I

20:36

am Mr. Michael Bangoora the son of

20:38

late mister Say I'm Bangoora. Who?

20:41

A minister of finance Sierra

20:44

Leone ourselves the Civil War.

20:48

Nine years. In

20:50

the face of all that spam. People.

20:53

Who run email services Needed a

20:55

way to filter out. Google

20:57

of course launched an email service. It

21:00

ended up becoming the biggest one. Email.

21:03

And because Google programmers are so good.

21:06

Teammate. Spam filters are excellent and

21:08

they got rid of a huge

21:10

chunk of the spam that was bedevilling

21:12

most of us. But.

21:14

Businesses: Businesses that understood Permission Marketing

21:16

who are not spamming people They

21:19

were emailing people who wanted to

21:21

hear from them. So.

21:23

We're bloggers so we're charities

21:25

so a political campaign so

21:27

we're people who are sending

21:29

out newsletters. And now

21:32

google has another decision to make

21:34

another decision on the boundaries as

21:36

don't be evil. The

21:38

question is. If. I signed

21:40

up to get emails from you and

21:42

you're sending me email every day. Is

21:45

an email I wanna read. I. Think

21:47

it is google. Will. They

21:49

have a business reason to think it's

21:52

not because if they can put all

21:54

that email. Into a different

21:56

folder. Call it I don't know.

21:58

the promotions folder. Then.

22:00

They get to do a couple things. First of

22:03

all, They. Can sell as inside

22:05

the promotion folder. Next all the

22:07

stuff I wanted to get. They

22:10

can put stuff I didn't want to get.

22:13

Number two: once it's in the

22:15

promotions folder, lotta people don't read

22:17

it anymore cause we're busy working

22:20

their way to are quote real

22:22

unquote email in our inbox. Maybe

22:24

we'll get around to the promo

22:26

folder one day if you're using

22:29

your phone to do it with

22:31

one swipe. You. Can send

22:33

all your promotions all at once.

22:36

To. The Archives and never season. Why?

22:39

Does google want you to do that? Google

22:41

wants you to do that. Because.

22:44

If you haven't heard from Pottery Barn in a while,

22:47

You. Need to go google. Pottery.

22:49

Barn. And when you google Pottery

22:51

Barn, go try it. I'll wait. What

22:54

you'll see. Our ads for Pottery

22:56

Barn and Pottery Barnes competitors I did

22:58

the top of the page. Pottery Barn

23:00

has to repay and repay and repay

23:02

to get you back to the site

23:04

you signed up for in the first

23:06

place. So, my blog, if

23:09

you get it might very well be

23:11

in the promo folder even though I'm

23:13

not sending you promotions even though you

23:15

ask. Because Google has

23:17

people with stock options who don't

23:20

think they're being evil who have

23:22

decided on your behalf. To.

23:25

You don't wanna see the seems. And

23:27

I don't think I to do google

23:30

Saab as well as Google is currently.

23:32

Doing. Google stop. But.

23:34

I do think. They. Have. Worked.

23:37

Their way into a corner. And

23:39

the corner. They've gone way beyond

23:41

Tv Guide. The thing is, I

23:44

never got Tv guide at my house growing up.

23:46

Because we get the newspaper and the listings

23:48

where in the newspaper and those things where

23:50

enough. Also, there are only three channels, so

23:53

clicking around was pretty easy. But.

23:55

That's Not what's happening now. What's.

23:57

Happening now? Is it all.

24:00

The information were counting on

24:02

sooner or later. Is.

24:04

Touching Google and also Facebook.

24:07

That. The news is going to

24:09

those two sides. I haven't even gotten

24:11

into the whole google news discussed. That.

24:14

It is shaping our culture because it

24:16

is the filter of our culture and

24:19

because it is a filter of our

24:21

culture. The. Culture itself is

24:23

changing. To make itself

24:25

suddenly. To be found on

24:28

Google and because it is Google itself

24:30

is changing since it is chasing its

24:32

tail and or a bar us going

24:34

around and around and around in the

24:37

cycle. Where. They're getting paid less

24:39

than a penny per search, but they need more

24:41

searches. They need more searches to make more money.

24:43

They need more money to make the stock by,

24:45

go up and at the very same time. All

24:48

of the web sites. That. Need

24:51

your attention. Are fighting

24:53

harder than ever to do it? Some.

24:55

Of them are cheating. Some. Of them are

24:57

trying to play it straight. But.

24:59

We have choke points now. Chokepoints.

25:02

we never used to have for for. Sure,

25:05

The local bookstore got to decide which books

25:08

were in the south. And. He

25:10

could only hold forty thousand totals.

25:12

Forty. Thousand is different than three sir

25:15

two cents. And so

25:17

the shift that's happening here and I

25:19

could talk about Googles repercussion since all

25:21

of the other services that Google has

25:23

tried and failed all of the other

25:26

services the Google is building now. I'll

25:29

add one more to the equation. Android.

25:33

Has lost Google billions

25:35

of dollars. Why does

25:38

Google create a free

25:40

operating system? It's. Simple.

25:43

Because it's the only way to

25:45

be sure. That the

25:47

Google search box remains primary even

25:49

as we switch to mobile. google.

25:52

Maps hasn't made them much of

25:54

anything in terms of profit, but

25:57

Google Maps keeps you connected to

25:59

do. One click away

26:01

from searching for the next thing.

26:04

When we see people who aren't in

26:06

the center. The. Four squares in

26:09

the Alps. Trying to get their

26:11

share of search, we see just

26:13

how difficult it is. To.

26:15

Get away from a monoculture. The.

26:18

Biggest miss of Googles entire

26:21

history is Facebook. Organizing.

26:23

The World's Information. Apparently

26:25

didn't include organizing all of

26:28

the world friendships and relationships.

26:30

And so Facebook following as

26:32

closely as they can in

26:34

Google footsteps is trying to

26:36

do the same thing. Lease

26:39

out attention in an auction? To.

26:41

Organizations that want attention.

26:44

Click. Here. And you can

26:46

find out about X, y or z. But.

26:49

Just as Google has shifted

26:51

the way that website act

26:53

facebook. Has shifted the way

26:55

that humans act, the way that

26:57

politicians talk to a that people

27:00

who are seeking a following are

27:02

behaving because winning. At

27:04

search means winning at attention. And

27:06

winning at attention gives you a

27:09

chance. To tell your

27:11

story in telling your story helps you

27:13

get closer to the people who seek

27:15

to change. So. All.

27:17

Of our economy, All of our culture,

27:20

Is tied together between two companies that are

27:23

just a few miles apart. Mere.

27:25

Mountain View, California. So.

27:28

The name of this episode. Also, I

27:30

think. Needs. To be the

27:32

name of the North Star, we've got to

27:34

figure out how to legislate how to regulate

27:37

because they can't do it themselves. Don't

27:39

Be evil. What? Does it

27:41

mean to come up with the rules? For.

27:44

The world we're gonna live in

27:46

tomorrow said it's mighty and they

27:49

to my name's Kyle reading sound

27:51

Steven out Madison, Wisconsin away from

27:53

south in high that. Has

27:57

tasked the warm greetings from Curacao.

28:00

My name is Nick I'm running

28:02

from Pittsburgh Pennsylvania Services rank high

28:05

school is how this is Robert

28:07

Parry of my question. And

28:10

that completes my question. We.

28:13

Love to hear from you. If

28:15

you've got a question about this

28:18

episode or anything previous, please visit

28:20

Akimbo.link that: Ak I M B

28:23

O.l I N K. And.

28:25

Press the appropriate button. Before.

28:27

I get to the questions. A heads up.

28:30

The Bootstrap Ers Workshop is starting this week.

28:32

You can find it at Boot. At

28:34

work. And you can check

28:36

out all the upcoming Akimbo workshops and

28:38

akimbo.com As a gay I M B

28:41

O. Dot. C O M. In.

28:43

Response to last week's episode

28:46

about interesting problems we ought

28:48

to. Good. Notes from educators

28:50

I says: thank you for making

28:52

a ruckus. I found your podcast

28:54

five months ago and I have

28:56

been since listening to it since.

28:58

Episode One: As a teacher, I

29:00

wanted to add to your salt.

29:02

Mean More Problems Episode Many schools

29:05

and teachers are using two approaches

29:07

to help students engage in solving

29:09

meaning for problems or one is

29:11

called project based learning where everything

29:13

is learned to completing a gigantic

29:15

project and the second is service

29:17

learning where students learn content in

29:20

order to provide surface to community.

29:22

Parents who wants to encourage six

29:24

children to saw opinion for problems

29:26

can learn from these principles. I

29:28

hope this helps and to keep

29:30

on making a ruckus. The

29:33

Pacers This is Dave my com

29:35

and from Durham, North Carolina who

29:37

really enjoyed your podcast on the

29:39

interesting problems and it's just so

29:41

happens on the head of school

29:43

to school which is a project

29:45

a school. Well.

29:47

I totally agree that we

29:50

bought to give students and

29:52

children interesting challenges to pursue.

29:54

I think maybe you missed

29:56

two points in your podcast

29:59

the for. The Is: These

30:01

problems need to be

30:03

intrinsically interesting to children.

30:06

So are You may find how to

30:08

design a garbage can to be an

30:10

interesting problem. Many three year olds, six

30:13

year olds, an eight year olds would

30:15

not fit. Is

30:17

the complete reworking of the infrastructures

30:19

of schools. If is interesting challenges

30:21

are be presented their as you

30:24

implied in your podcast if you

30:26

give a student a grade for

30:28

doing this work to be looking

30:31

for the great not little proud

30:33

of Salt interesting problems. The

30:35

really enjoy your podcasts in the interesting

30:38

problems you bring up for me to

30:40

think about. Thanks for your great work.

30:42

But. His points out to me is

30:45

something is quite relevant to the next

30:47

question. So let's go to that question

30:49

first. So. My question is.

30:52

He and Supple. Head. And post

30:54

modern world you talked about be

30:56

unable to identify as. Game

30:59

changing technologies are cultural shifts and

31:01

supple You talked about yourself and

31:03

Bill Gates. Be a just a

31:06

little bit late to the games.

31:09

Concerning the internet. So.

31:13

The question is how do we identify

31:15

as. Those. Things that

31:17

will be true game changers and

31:19

not just another eraser knows. What's.

31:22

Already happening in my example today

31:24

as Five G. It's Five G

31:26

as moved from he no conception

31:29

to reality and a certain way.

31:31

It's certainly has a lot of

31:33

potential. But. As are

31:35

true game changer. While. They changed

31:37

the way we do things everyday. Or.

31:40

Is it just another It array shifts

31:42

And how will that affect? Current.

31:45

Technology and things that are being used

31:47

now. Spell thanks again for all you

31:49

do. When. We think about betting

31:51

on the future. Two things are worth

31:53

considering. The first one is. It's

31:56

a bet. There. Are

31:58

lots of bet they can be

32:00

made you good bet on third

32:02

race at Santa Ana. Tomorrow you

32:04

can bet on Bitcoin. you can

32:06

bet on five g. You can

32:08

bet on the infrastructure changes that

32:10

are happening in places like India.

32:13

You cannot make. All.

32:15

Of the bets. So the

32:17

first place we begin is to

32:20

realize that there are betting strategies.

32:22

Any Duke writes about this and

32:24

thinking and bet they betting strategies

32:26

that make sense. He would hold

32:29

a portfolio of bets. You can

32:31

make small bets that will pay

32:33

off early, thus financing your ability

32:35

to make bigger bets down the

32:38

road. It. Is foolish

32:40

to mortgage everything you

32:42

own to make one

32:44

big bet on one

32:46

future idea. Because. Once

32:48

you're out of the game, you out of the. The.

32:51

Second piece which connects directly

32:53

to the first one is

32:56

that sunk costs while they

32:58

are real must be ignored.

33:01

What you invested in yesterday.

33:04

Is. Irrelevant when you make

33:06

a new decision about what

33:08

to do today. Yes, You

33:10

may now own an asset that's

33:13

different, but the fact that you

33:15

committed. To. The asset. Is.

33:18

Irrelevant. So. This is the

33:20

problem that Bill Gates head when the

33:22

Internet showed up. The Internet. If.

33:25

You look at it rationally

33:27

as a technologist in the

33:29

late Nineteen eighties, early Nineteen

33:31

nineties, Of course it

33:33

was a smart thing to make

33:35

a series of bets on. It

33:37

was cheap. To. Make those bets.

33:39

And the potential upside was

33:42

significant. But Microsoft.

33:45

Had a huge amount of

33:47

sunk cost In a world.

33:49

That wasn't based on the internet.

33:52

Steve Ballmer never understood this

33:54

lesson. That is why he

33:57

pro family and loudly Danny.

34:00

They did any new technology

34:02

that undermined a sunk cost

34:04

that Microsoft had already made.

34:06

In my case, Yoyo. Died

34:08

was built on email. We had

34:10

made a huge investment in email,

34:12

not just money, but emotionally. So.

34:15

To me. When. The worldwide

34:17

web showed up. I. Intentionally

34:19

didn't get the joke because

34:21

I was defending my sunk

34:23

cost. So. Back to the

34:26

idea of education that challenge that

34:28

so many schools have. Is

34:31

A have made an emotional commitment.

34:33

To a bureaucratic structure to

34:35

a top down compliance based

34:37

system and sell when a

34:40

new educational idea shows up.

34:43

The. First thing they ask is not.

34:45

What? Small bet. can we make year?

34:47

What can we learned from this opportunity

34:49

that is clearly in our wheelhouse? But

34:52

instead it's how do we defend

34:54

what we've already done? So.

34:57

When someone says. This. Isn't

35:00

going to work because we have this

35:02

sort of system. These sort of teachers,

35:04

The sort of processes. My.

35:06

Answers while but other people who aren't

35:08

defending that some cost, what will they

35:10

choose to do? With. This

35:12

opportunity. And so

35:14

we see online learning accelerating

35:17

rarely. Because. Existing

35:19

institutions are pioneering. It.

35:22

Mostly. Because people with nothing

35:24

to lose, Nothing sunk. Are

35:26

going ahead. And. Exploring it, When.

35:29

I hear from educators who are. On

35:31

the cutting edge when I visit schools

35:33

in New York and other places where

35:35

people are leaning out as a boat

35:37

exploring. New. Ways To Educate

35:40

children. I see how caring

35:42

and Braves sees administrators and

35:44

teachers are, and I can't

35:46

help but feel optimistic about

35:48

what we're going to be

35:50

able to create. I.

35:52

Was in. Brook runs the Lab School

35:55

in New York and public school that

35:57

is on the cutting edge as treating

35:59

kids differently and seeing how extraordinary the

36:01

results are. And all I can say

36:04

to any educator who's on the front

36:06

night. Estate. You. I'd.

36:09

Be remiss if I didn't take this

36:11

opportunity to share Ellie Marks and story

36:13

of Joey New Dell and the Two

36:15

Sticks. To his the situation.

36:18

Six. Eight year olds

36:20

arrive at summer camp homesick. It's the

36:23

first day. There's. Two more

36:25

kids left the com in the cabin

36:27

but they're on a bus that to

36:29

an hour later. She's got the six

36:31

kids who don't know each other. You've

36:33

got an hour to kill at all.

36:35

You've got. His two

36:37

sticks. Join. A

36:39

Dell took the two sticks. And

36:42

figured out how to help the

36:44

kids invent a game with it's

36:46

own set of rules. A complicated

36:49

game. That. These kids ended

36:51

up playing not for an hour. But.

36:53

For a months. Peters.

36:56

Even. Two sticks. Can.

36:58

Present an interesting problem, Is.

37:01

You can create an environment. That.

37:03

Makes the problem seem interesting. That

37:07

challenge that we have in

37:09

giving students problems. Is

37:12

that what makes something intrinsically

37:14

interesting? Is. Not.

37:17

Whether. Or not, it is part

37:19

of their lights. So far, it's

37:21

whether we are building systems and

37:23

emotions and seed back cycles. That.

37:26

Reward people. For.

37:28

Playing. With. Interesting problems.

37:31

You're. Exactly right. Students who

37:33

are going to get a grade for

37:35

solving interesting problems will do whatever they

37:37

can. To. Get a better grade because that's

37:39

what we taught them. To. Do.

37:42

But. We also know. That.

37:44

If you give kids room

37:47

to play. They. Will

37:49

often. To. Supply. Thanks

37:52

everyone for listening for the ruckus you're making. Will.

37:54

See you next time and. It's

37:57

back to boot. Sappers Workshop

37:59

is back. Proven. Effective.

38:03

Tested. People. Like

38:05

you in search of a chance to

38:07

own something to build a business bigger

38:10

than themselves as valuable if not more

38:12

than that and the consensus that the

38:14

people who are attracted to this is

38:17

it's real gift. Make that happen and

38:19

it and I still ready to look

38:21

forward to have this little baby muscle

38:23

now that I need to keep building

38:26

about how to sing huge and execute

38:28

small and keep building like one brick

38:30

at a time. What was really

38:32

beneficial was people saying well that's okay

38:35

an encouraging me to stretch my mind

38:37

and and go with it and just

38:39

see what happened. You have to go find

38:41

the answer and that's and relax at check out

38:43

the details. To. Visit Boot. Dot.

38:46

Work. We'd. Love to have you

38:48

join! The. Bootstrap Or his. Workshop.