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A spartan deck which accompanied my speech at Thinking Digital conference in New Castle.

Published in: Technology


  1. 1. Friction<br />Good, evil, necessity or fuel?<br />Photo © Stavros Markopoulos <br />
  2. 2. Friction – Definition (i)<br />Definition of Friction, paraphrased from Wikipedia:<br />Friction is the force resisting the relative lateral (tangential) motion of solid surfaces, fluid layers, or material elements in contact. Friction is not a fundamental force, as it is derived from electromagnetic force between charged particles, including electrons, protons, atoms, and molecules, and so cannot be calculated from first principles, but instead must be found empirically. <br /><br />
  3. 3. Friction – Definition (ii) Colloquial<br />Better quote from Fear of Physics:<br />Friction is the "evil" of all motion. No matter which direction something moves in, friction pulls it the other way. Move something left, friction pulls right. Move something up, friction pulls down. It appears as if nature has given us friction to stop us from moving anything.<br /><br />
  4. 4. In Media friction has consistently been about enforcing payment<br />
  5. 5. “Friction is fiction” - discussion<br /><br />
  6. 6. The Ultimate point of Friction – the PAYWALL<br />© Olobez -<br />
  7. 7. A simple, intuitive interface, which disguises its technological underpinnings, giving the user what they want. This frictionless experience fills the user with pleasure and delight.<br />
  8. 8. Great User Experience = Avoid Friction<br />
  9. 9. Who is your customer? - Advertisers<br /><br />
  10. 10. Who is your customer? - Creators<br /><br />
  11. 11. Who is your customer? - Audience <br /><br />
  12. 12. HBR Article: The Age of Customer Capitalism by Roger Martin <br />7.6% compound annual real returns<br />5.9% compound annual real returns<br />Photo © ichaz<br />
  13. 13. Key Values in Digital Economy - Scarcity<br />We’ve had do identify, discover and or create new forms of scarcity<br />
  14. 14. Key values in digital economy – Trust<br />New Values – Trust, references, personalization, data.<br />DESIGN TO ADVISE<br />Only Time builds Trust<br /><br />
  15. 15. Key values in digital economy – Referrals<br />Google created 8 billion links last year<br /> - social media created 6 billion<br /> Which has more authority?<br /><br />
  16. 16. Key values in digital economy – Personalization<br /><br /><br />
  17. 17. Key values in digital economy – Data<br />Key values in digital economy – Data<br />The information about an asset, call it metadata, user data, or just DATA is more valuable that the digital copy of the relevant asset (the “CONTENT”.)<br /><br />
  18. 18. Data is the new Oil<br />Currently abundant, under-measured, un-regulated, and largely un-monetized<br />Long term systemic friction from privacy <br />Estimated value of new Data markets is $ 1 Trillion<br />© marvin908 on flickr<br />
  19. 19. Where else is scarcity or friction still key to power? - Discovery <br />Today Google is the GATEKEEPER of Discovery <br />
  20. 20. Facebook = Internet + 20 years ?<br />© balakov -<br />
  21. 21. Where else is scarcity or friction still key to power? - Privacy<br />
  22. 22. Privacy is NOT secrecy<br />
  23. 23. New forces of friction? - Identity<br />
  24. 24. New forces of friction? - Connections<br /><br />
  25. 25. “Friction in economies simply moves from place to place based on competition”- Rich Skrenta <br />
  26. 26. Friction is a good thing?<br />
  27. 27. ‘The whole business starts with ideas, and we’re convinced that ideas come out of an environment of supportive conflict, which is synonymous with appropriate friction.’<br />—Michael Eisner <br />Photo © andythesquirrel<br />
  28. 28. Putting friction into the middle of product discussions<br />
  29. 29. Lessons<br /> <br /> <br />Friction, not a fiction, it is a necessity.<br />Friction points move consistently making it difficult to capture and hold advantage.<br />Friction is a force for good, when focussed towards a constructive objective<br />FRICTION IS A FORCE FOR GOOD<br />
  30. 30. Success Strategies<br />Know who ALL of your customers are…<br />Build a business around their needs wants & desires<br />Value comes from long-term quality relationships<br />
  31. 31. & Delight <br />
  32. 32. Thank you<br />Richard D. Titus<br />CEO, &<br /><br />@richardtitus<br />