Tag Archives: facebook

Being Bold

If every engineer takes those four concepts and applies it to their environment and their business, they will see the benefit and have an impact on what they’re trying to do

Jay Parikh, Facebook

The four concepts are: “Focusing on Impact”, “Moving Fast”, “Being Bold” and Bring Open”.

This Venturebeat article is a useful read for all those building out not just their engineering teams but also the companies themselves. Having worked with engineering teams that made use of traditionally slow release cycles and the more modern fast iterative development teams in the past, the ability to adapt and change quickly is for me its key benefit of the latter. The other behaviour that seems to fall out from this approach is an ability to  feel that anything is possible. Once inconceivable tasks suddenly become achievable.

That can only be a good approach for succeeding in building out fast growth successful companies.

 

Internet Currencies #fail

For as long as the Internet has existed, there have been companies attempting to create a digital currency. Do you remember Beanz? Launched in 1998, it crashed and burned in the midst of dotcom crash in 2001. Since then there have been numerous others, checkout Coinbase (creater of Bitcoins) along with Xbox points and Facebook credits attempting something similar today albeit the latter two are within their own closed networks.

In principal, it is a brilliant idea. The internet has no borders so why not have a single global currency – a global marketplace that would make global e-commerce simple and easy.

In reality, they make life difficult for the user. Back in the time of Beanz, it was a solution that solved a problem for the internet companies and not the customer. Now the only reason for Facebook credits/Xbox Points is some form of lockin to the platform. Not exactly a user first approach.

People are used to their own local currency and are able to make instant value judgements on a product if it is in their own currency. Without that, there follows a delay whilst the conversion happens either in their head or worse elsewhere. That can only result in one thing – a dampening on sales.

It is important to keep things as simple as possible for the buyer.

So it is good to see both Facebook and Microsoft (rumour) take steps to change its systems to support local currencies instead. Now if only all those loyalty schemes would convert to a local currency as well..