So, everyone had a mortgage. So I think the example D’Arcy brought up is great, which is Robinhood. And in some cases, depending on the kind of investment that you make, you get certain levels of access or swag or other things that are associated with ownership. Sonal: Right, you have to work harder to NOT do that. The magic in social plus finance happens when the transactional piece and the interactive piece are mutually reinforcing. For sure. I think that is very difficult for a number of reasons. And they said go play. In a more formal situation — like a panel, or a decision-making meeting — you have to be much more directive: You have to keep things on track; you have to be monitoring the agenda, and the time, and the different types of contribution. There are better and worse ways; if you can remove the pressure to do it right, you actually free up cognitive resources to do it better. When it comes to managing anxiety, at the highest level it’s about doing two things: managing symptoms, and managing sources. And these play out differently depending on the channel through which you’re communicating (in person, online, et cetera). And yet I think you’re like the fact that…. Let me explain first what I mean by paraphrasing then give you some examples of how to use it: So, when I’m speaking about paraphrasing, I’m talking about listening to hear what IS the bottom line — the critical gist of what somebody is saying.
, Sonal: Okay but to be very clear, I only do that for live events. How does that fit in or not fit in? And I think you’ve seen that where social and finance intersect, they’re coalescing around those three use cases as well. Matt: So I could spend a lot of time talking about this point. Same too, with a moderator: Many of us go into our role as facilitator or moderator with that contributor’s mindset. Anish: In my mind, the most direct way to start seeing this play out is just having more fintech products address emotional needs, as well as functional and cognitive needs. So, as a moderator, you’re kind of rerouting around people are going too long on this thing; or, oh man that’s like a- I don’t want to jump into this lake, like, that’s going to tank this conversation. That fear is a future fear. D’Arcy: What are the things people like to do on social? Where do I want to land this? And more than likely, we are are all familiar with this disease in some way, as it touches 1% of … I’ve linked to the Soundcloud and included a transcript below. Another lens is it broadens the solution space a founder can operate within, because now you’re not just on the transactional level or you’re not just on the emotional and cognitive level. So you can start by saying, hey let’s figure out how we want to best interact. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon Valley-based venture capital firm. By virtue of co-creating them, that’s how you’re disseminating the information. And, I think that’s a great way to look at it, is: you have a destination; your job is to get there; there are multiple paths to get you there — as a moderator you have to decide, do we take the most direct route, are we going to take some more scenic routes to get there; but you’re really driving towards that goal. And I, I have to tell you, it’s completely changed how I think about communication — that framework you outlined, if you’re in a voice-only medium, you almost have to caricature-like, exaggerate some of the things that we’re talking about to make up for the lack of visual. What you want to avoid with any rules that you set up is getting bogged down in the rules. So that’s an example where the fintech product is addressing a social consumer need, but at first blush, it may not appear to be the combination of social plus money. You know, everyone’s in a dark room feeling bad about their money with everyone else in that same dark room. But the reality is it doesn’t. I always tell audio platforms that one of my favorite features that I want everyone to build is a “drink water” button, and everyone kind of chuckles but I’m like no I’m serious, this is what I really think is important. Now that I know the people, and where they’re coming from, and the purpose I have, I can then craft the goal: know/ feel/ do > information, emotion, and action. The saying is “every company is eventually going to become a fintech company.” And I think that is probably the direction it goes, in which you have a weird social behavior that has some ability to layer a transaction inside of it. It’s reaching unsustainable levels and that’s forcing a conversation that breaks down the stigma around talking about student debt. Am I concerned that I might not achieve my goal? . So we want to be big (that is, not hunched or crouched); we want to be balanced (head straight, shoulders square); and we want to be still. But when you’re listening to paraphrase, you’re really trying to figure out, what’s the bottom line. Sonal: I have to tell you, one of the things that you’ve helped me with, as an anxiety- management technique, for big events and prep — one of the techniques you gave me is like having three keywords as a way to kind of orient my identity before I go on stage. Moderate. The other thing is just I want to make a note, with the filler words: Sometimes I think it has to do with representation, sometimes I think it has to do with just societally; in fact, one of the edits I make often, for a lot of my expert guests, is NOT having them say an acknowledging statement at the beginning, “Well, you know, Tom, I agree with you, Jim. Matt: So, to me, it starts first and foremost, by getting an understanding of what it is that I need to accomplish. Matt: Yeah, no, it’s not easy. You can grow up in the same town at the same age, and if you grew up on one side of town, your norms around money and sharing are very different from the person on the other side of town. I think this is gonna go mainstream.” In some cases it will, or in some cases it’s just part of that subculture, because the norms and taboos will never translate into the mainstream. What I really like to highlight are the words that get in the way, what I call the “verbal graffiti” — so it’s the ums, the uhs, the likes, I means — my favorite, “honestly”, that one bothers me so much, because it implies everything else you said prior was dishonest — we use those fillers. Matt: Right and the key word you said there is “connect” — and that’s really what a good facilitator and moderator does; it’s all about connecting. Okay, so then that’s for the visual. So that linking/ bridging/ connecting matters, a lot. Anish: The most direct manifestation of social plus fintech is: we have messaging, plus we have payments or some other shared accounts, shared ledgers, joint accounts, etc. for even. And it could be simple things: Non-verbally acknowledging what somebody said; it could be thanking somebody and expressing gratitude. Lauren: Are there companies right now that you see making strides in that direction? And we know that that’s rude in person, and part of us says, hey look at me. Our new series, Social Strikes Back, explores the hyper-social future of consumer tech. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/. Like, WallStreetBets has something like 800,000 members. So, speaking is an exit-only event: You can only speak when you’re pushing air out, not when you’re taking air in. Or, just talk to the folks themselves — and get a sense of what’s important to them, what their attitudes are, etc. What do I want the beginning to feel like? D’Arcy: There’s also this long legacy of companies starting out at the nexus of social and fintech and then eventually moving one way or the other, generally towards the fintech/transactional layer. Start by saying, imagine what it would be like if we could save money, or time, or lives? Now when I’m virtual in the box, if I were to do that, you’d never see my hands. Our network of shows aims to help make sense of it all: for builders, for the tech curious, for anyone seeking to understand the future, now. Where do the differences between in-person and remote — as well as the evolution of tech & tools — come in? So much of it is driven around what’s taboo and what’s stigmatized, and that actually exists at the subculture level. Like, how does one optimize techniques, like, I open up my arms in a room — but in Slack, nobody even sees my arms. So, you know, not everything is starting from zero when it comes to digital products. Not only do I like that idea, but I, like Margit, am gonna call bullshit that you don’t plan and prepare. And then they put up the Credits. D’Arcy: And those are interesting because there is a different iteration in every single culture and every single country. I spend a lot of my life helping people become more comfortable and confident speaking; I’ve written a book Speaking Up without Freaking Out on the topic — and it’s something that I think is so critical, because I know we miss valuable input, voices, and ideas because people are just too afraid to share them. So, in all those tricky situations, again, pre-work matters; anything you can do to set yourself up for success: Talking to people in advance, so you set their expectations; giving some ground rules for what you expect. D’Arcy: I actually think you can build great businesses around some of these subcultures. D’Arcy: SoFi is a great example of that. When people start talking about it, then everybody feels empowered to talk about it, right? And they rated the same things (amount of play, quality of play, creativity) — and it turned out, the play with the play structure was much more creative, much more engaging, more time spent playing. You know as a teacher, I see this all the time. People who get shaky — that’s the adrenaline coursing through their bodies — doing big broad gestures when you begin a presentation invokes muscles, big muscles that then dissipate some of that adrenaline. I don’t want you to tell me what you’re going to say. Today’s episode is all about growth, one of the most top of mind questions for entrepreneurs — of all kinds of startups, and especially for consumer ones. D’Arcy: But nobody was, like, screenshotting their Boolean collection and sharing it on Twitter. D’Arcy: You see it across all of the platforms, but you see certain categories that people are now talking about that they didn’t talk about before. The best thing you can do is just try to build your own awareness. And you are not alone. It features industry experts, business lead… Listen Later. Because you’re right, you can’t say the word excited, like “I am so excited” you know . If it gets unruly, your biggest friend is paraphrasing. And it is true, I talk the way I think, and maybe I could slow down on that. Matt: I agree. But gesturing is important. We talked about the good side of Instagam but Insta is also a very public place to talk about your spending. Is it really about collaboration? You’d link your credit card and every time you swiped it, it tweeted. And I’d kind of be sloppy at the end like — okay, we’re done — I mean, I wasn’t quite that sloppy, but, you know . And a great way to bring that variation is to use emotive words, adjectives and adverbs. But for me, that’s like the #1 thing is, I have an arc in mind but I keep it very modular chunks so that I can quickly rearrange it on the fly if necessary; I’m not wedded to that. by Anish Acharya, D'Arcy Coolican, and Lauren Murrow. It features industry experts, business leaders, and other interesting thinkers and voices from around the world. And knowing, it’s not weakness — but the better you know yourself, the better you can then plan and even reroute around or address it head on. So on the fly, you’re not having to make those decisions, you’ve already thought about this is the most important, this is second and third most important. Which precludes you from saying anything such as right, um, got it. And maybe it makes me stressed or maybe it makes me feel more comfortable, but at least there’s some level of transparency. And the reason is, because I’m a shepherd for the audience; energy, which goes to the point about feeling; and light, because I want people to feel enlightened — which I know sounds really mushy-gushy but, those are literally the three words that really ground that I’m collaborating with the audience: It’s not this oppositional, adversarial, dynamic. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. Please see https://a16z.com/disclosures for additional important information. It’s easy to dismiss that as clumsy, but I do think that they’re trying to touch the same nerve. Do you not think that that is becoming less so? Where this gets a lot more interesting is looking beyond social media and social networks and starting to talk about how this stuff drives an emergent set of products and how products are designed. And I also forgot that some tools allow you to turn that view off — but it IS incredibly different — because when you’re on stage, you’re not that close up. A16z is one of the most popular podcasts about technology. I believe… that they are remnants of our thinking, and in-the-moment feeling like we need to be saying something because we are in front of people; we’re filling the space. In the podcast, we cover a broad overview of growth/marketing topics, including: ... Hi everyone welcome to the a16z Podcast, I’m Sonal. So, some of these tools actually allow you to mute your own image; I know somebody who takes a post-it, sticks it right over her image. The views expressed here are those of the individual AH Capital Management, L.L.C. Anish: Well, depending on what Facebook group you were in. It’s having debt that’s always been private. One is generational, so every generation’s relationship with sharing and every generation’s relationship with money is different. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon… Matt: Wouldn’t it be great just to be psychic and be able to know that stuff? So it is a process that starts way before people ever enter into the call or the room, and it continues long after they’ve left. Sonal: My biggest pet peeve is when people have the guests introduce themselves , because a moderator is literally conceding control of how to begin the conversation in the most boring way possible. Populære Podcasts Populære shows i dag. And then secondly, it’s very hard to tell where to look. The flip side of that is it’s combinatorially more complicated to do. It’s about the thing that the listener wants, the audience wants, that’s top of mind, making it about what you said about why is this relevant to YOU? Why is that? And you can move things around. Anish: I think the hacker mindset has pushed outside of software and into finance. Is it a prep call? I was just checking Instagram right now, and there’s 675,000 posts for #debtfreejourney. Sonal: I find that too; I also notice that and it drives me a little nuts that I do that, some of my speakers do that. Sign up to get our best articles, latest podcasts, and news on our investments emailed to you. And for what you’re talking about, using *questions* is a great way to do that rather than come in with some exclamation or declaration. And the idea is that it’s like the bones — it’s not like a full- built structure, but the scaffolding that sets something up, but it’s not fully filled in, and it’s also not like fully free-for-all — so, that’s an idea that applies there. A lot of us are really good at focusing on the information: here’s what I want us to be talking about. In terms of sources, so, many of us put a lot of pressure on ourselves to do it right. And the other one that I — this is going to sound so funny — but it’s just taking a sip of water. I always noticed only the tics — I like, I like, I like. D’Arcy: I think social and finance is like the holy grail, right? And then they brought a similar group of kids to a similar field, but the difference was, in the second field there was a play structure. So it means in advance, you have some guideposts of where you’re going — those are the themes that you’re driving towards — and then you bridge and link back to them. They don’t go away completely, but you can reduce their frequency. Next, you have to think about, again, the goal; what is it I’m trying to achieve? It’s like, I know where I stand relative to other people. Like, you read all the time. Are there areas where you see opportunity in some of these niche groups? And it’s not just because it’s a pain to keep a budget, it’s because it’s mostly bad news. It is very hard to change your eye movements; it’s reasonably hard to change your breathing; it is pretty easy to change how fast you gesture. Why would you ever invest in a restaurant? The Show Notes can always be found on the same page as each podcast. Lauren: Thank you for joining us on the a16z Podcast. And, with both symptoms and sources, there are things that you can do, that over time, will help you feel more comfortable and confident. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. One of the more entertaining one is WallStreetBets on Reddit, where people are posting some mix of fake and real trades and explosions and everything like that. And because of that it makes it worse. Matt: It does! It features industry experts, business lead… a16z Podcast - Andreessen Horowitz, Mike Masnick, Sonal Chokshi, Jeff Lawson | Listen Notes Lauren: Well, let’s talk about it. Lauren: What’s the potential there? Bonus Content: Check out the a16z Journal Club audio podcast discussion of these papers, with general partner Jorge Conde and Bio deal team partner Andy Tran. I think for me — there’s no like systematic technique or at least one that I’m aware of — is trying to find kind of the person’s guiding light. And this requires a very different type of listening; most of the time when we listen, we’re just listening to get a vague idea of what someone’s saying, and then we begin formulating our response or rehearsing it. So I think that’s a product that’s completely designed around a set of emotional needs, with perhaps a set of functional outcomes as a happy side effect. I still like to scroll through the global feed on Venmo, which now is capped, I think, at the last 50 transactions. Three of the core functions are bragging, complaining, and rubbernecking. Is it that I’m feeling soo intensely evaluated? And then I had all these people (fans, others) messaging me like, speak up more, we wanna hear more from you… and I realized like ohmygod, the orientation point is the voice — they’re the GPS for the episode, the themes that cut across things — and the connecting is key, because in audio in particular, the intimacy you have is SO exquisite. And you get to pick the level of relevance here — it could be to the individual you’re talking to, could be a group, could be a company, it could be society in general. And credit scores are very similar. And really, what it comes down to in person or virtually, you have to work on your breath; your voice is a wind instrument. Lauren: So you’re saying there are these subgroups, little niche categories, but it’s difficult to build a business around them until they reach that tipping point. You should consult your own advisers as to those matters. What I want people to take away is that — with practice, with commitment; giving yourself permission to take risks to try some of these things out — you can actually learn to be more comfortable and confident in high-stakes communication situations. Matt: Yah, so if you have solid themes that you are driving towards — and these are either ones you’ve created yourself or co-created with the other participants — those are the cornerstones or the anchors to which you bridge or link back to. Those are sources. And, it is really hard to get rid of them. What’s new is that this generation is living in a completely different socioeconomic context. So if there’s something that is inside baseball, if there’s some insider information, you have to call it, you have to pull it out so others can participate. To. Because a) I don’t think this is an important skill just for the duration of the pandemic — let’s face it, a lot of knowledge work in particular is gonna be remote-first — we’ve definitely shifted the baseline on this. Sonal Chokshi is the editor in chief at Andreessen Horowitz and the showrunner And I think they serve some neurological purpose — I don’t know if you have a thought on this, but I think it’s impossible to get rid of tics. Sonal: Matt, “thank you for your time today. But it’s happening inch by inch and category by category. Matt: Well, it’s interesting — ‘cause I don’t find you a fast talker — but what I find is sometimes you won’t pause as long as you could. The a16z Podcast discusses tech and culture trends, news, and the future – especially as ‘software eats the world’. In this episode, Amira joins host Lauren Murrow and a16z fintech partners Anish Acharya and Seema Amble to discuss how fintech can cut through bureaucracy, downsize student debt, and optimize—and ultimately automate—consumers’ financial futures from an early age. I think that’s the hardest problem, the hardest segment to actually unlock. All of those are techniques for bridging and linking back to the central ideas. And you went so far as to even show me physical, nonverbal things that I can do to bring the audience along, where, I literally open up my hand like “listen, I think everyone in this room” — kind of hug the room in — “wants to know like, what do you mean by that”? Taking a breath, actually physically just moving — you don’t have to speak as you move, and you can take a breath as you step — it’s a great way, especially if it’s a transition… point. Like, I’m going to have a panic attack or something. The other way is just to inquire, ask questions; observe what people seem to be saying and how they’re saying it — gives you insight into what’s important for them. So this goes back to the host being a shepherd; But actually, you talk about the linguistic aspects — this is one of my favorite technique that I’ve specifically learned from you (in some of the live event preparation) which is: How to change the exact same question, but in a way that it’s very much phrased as advocating on behalf of the audience. So shares Adrian Cockcroft, who helped … But, you’re right, we are having to focus on… emphasizing things very consciously… to get our points across because something in our situation is different: We’re covered up, we don’t have the visual cues. Listen to a16z Podcast episodes free, on demand. if you haven’t checked it out, you can subscribe here. And then, conclusions! 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