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There's a cultural generalization that talking about money should be taboo, but the reality is that the topic of finance fires up curiosity and conversation. Social dynamics shake up and accentuate interactions around money in younger generations between friends or within communities. Fintech, which has been witnessing this social upheaval in recent years, now offers new community experiences.
I argue that obsession with personalization is not enough. There are still three missing elements.
The personalization machine doesn’t take the need for positive interactions with a human being into consideration. We are slightly happier when we have a good interaction (I really like your outfit!).
The personalization machine doesn’t prioritize the users’ personal growth. It almost always chooses today’s sales over a long-term return. Take algorithms that try to solve the multi-arm bandit problem. They will prioritize (over time) the option that maximizes the immediate response (open-rates of your email marketing campaign). To be clear, this is not about the algorithm as much as it is about the objectives that we, the data scientists and business owners, set for these machines.
You don’t have a sense of community, so you become a cultist! I hypothesize that one of the reasons that we have seen an increase in the polarization of society is the lack of a true sense of community. While we have connected people more than ever, people are missing out on the benefits of being part of a community.
♣ This week Clubhouse gets its own section!
Clubhouse’s Inevitability — Stratechery
In defense of blocking on Clubhouse — Casey Newton
Clubhouse in China: Is the data safe? — Stanford
EP81: How Clubhouse is Affecting Community w/ UiPath — The Community Corner 🎧
Rosieland Adventure - come learn about modern community building! ☁️
More community articles:
The Great Unbundling — Anne Helen Petersen
The terrible task of documenting abuse — Tracy Chou, Block Party
Online Community Governance: Six Case Studies — Howard Rheingold
Should I Measure NPS Specifically In My Support Community? — Adrian Speyer
How to Use Slack Effectively — Sam Corcos
The Signals Research — New Public
Organising Communities: Identiyfing, connecting and facilitating — Peter Staal, Kirsten Wagenaar 📚
What Tristan Lombard teaches us about community building — Simon Tomes
The Decade of Internet Communities — Rex Woodbury
Owned Community Matrix for Creators — Peter Yang
The Rise of the Community Department — Lisa Xu
Community-Led Growth: The Product-Led Growth Expansion Pack — Corrine Marie Riley
Supercharging Communities Through Ownership — Ian Vanagas
Building Member Habits and Becoming Indistractible with Nir Eyal — Masters of Community
Online Community Governance: Six Case Studies | Howard Rheingold on Patreon
Learning in Public with Anna Gat and Anne-Laure Le Cunff — Venture Stories
Skool — Like Facebook groups, but better. 🤷🏻♀️
Virtual Venue by Mixily — Host custom video gatherings right in your website
Community Club 💃🌐🕺 @CommunityClubHQHow do you feel about lurkers in your community? Is it worth actively converting lurkers to participants? Great questions from @bendhalpern 👇 https://t.co/Sb4fsLNm6q