Summary of “Are You Using Social Media or Being Used By It?”

If you, like many people, use social media and generally agree that it’s an important technology, try the following experiment.
Take out a piece of paper and list your most important uses for these services – the activities that social media is well-suited to provide and that unambiguously enrich your life.
The social media industrial complex* likes to point to lists like these to justify its importance.
The average American adult social media user spends two hours per day on these services, with almost half this time dedicated to Facebook products alone.
To be more concrete, I claim that most users could probably reap 95% of the value they get out of social media by signing in twice a week, on a desktop or laptop, to catch up on the latest photos, or check their organization’s group, or to browse the most recent chatter relevant to a movement they care about.
Social media companies cannot reach multi-billion dollar valuations, or return consistent stock growth to their investors, based on controlled use.
The “Like” button? This was added to inject more intermittent reinforcement into the social media browsing experience – significantly increasing the amount of times people check their accounts.
Still use social media, if you must: but on a schedule; just a handful of times a week; preferably on a desktop to laptop, which tames the most devastatingly effective psychological exploitations baked into the phone apps.

The orginal article.

Summary of “The Financial Industry Needs to Start Planning for the Next 50 Years, Not the Next Five”

The financial services industry, a traditional laggard in technology adoption, is just now entering the digital phase.
Startups alone won’t fill that vacuum: Stewards must emerge from the old guard of financial services.
Taking a long-term view – planning for a viable business in the next decade, rather than the most profitable one in the next quarter – is the only way forward for financial services businesses.
Innovation in financial services will happen in part through the diffusion of new revenue models and technologies, combining entrepreneurial ideas with institutional and operational expertise.
The financial services industry is still in the early stages of digital transformation.
Beyond simply nodding to the need for greater innovation, it has begun to take a series of bold, decisive steps that are atypical of financial services firms companies.
From elevating its former CIO to CFO, as it increasingly defines itself as a technology company rather than a financial services firm, to emerging as one of the most high-profile advocates of cryptocurrencies, it’s clear that the company is thinking in longer time horizons than quarter to quarter or year to year.
While financial services firms were unlikely to give much credence to the thoughts of a little-known tech entrepreneur, those thoughts contained sage wisdom – and are even more prescient today.

The orginal article.