This week in community building — Issue 73

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Bring In The Social… FinTech Is Getting Wavy!

Marie Dollé

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.

We Were Missing the Personal Touch

Shobeir Mazinani

I argue that obsession with personalization is not enough. There are still three missing elements.

  1. 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!).

  2. 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.

  3. 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!

🗓 Events

More community articles:

🎧 Podcasts

⚒️ Tools

  • Skool — Like Facebook groups, but better. 🤷🏻‍♀️

  • Virtual Venue by Mixily — Host custom video gatherings right in your website

🐦 Twitter