Phillip and Brian look at loyalty programs including Delta’s, which may turn Brian into a United or an Alaska guy, recap some compelling highlights from the All-In Summit that Phillip went to, and remind us why commerce really matters and can bring about powerful change as we work to shape it.
“A Giant Pain Fest”
- {00:09:02} - “Loyalty is a form of arbitrage. Customers have always figured out how to game rewards programs, but loyalty programs in particular are a short-term play.” - Phillip
- {00:14:03} - “The world does revolve around this value extraction and trying to maximize the benefit that you get through spending through a charge card. So in reality, the loyalty-free agency era is going to be defined by those who do status matching across programs and invite those people who are running away from Delta in with open arms.” - Phillip
- {00:26:05} - “If you can touch commerce, you can touch the world. If you can make an effect in the people who make decisions in commerce every day, you can affect the outcome of the way that people engage in human interaction because we all have to engage in commerce.” - Phillip
- {00:36:42} - “The technology question is a big question. It could go in a lot of different directions. And I think that that's how a lot of this is going to change what people actually accept and take hold of and think about how to apply creatively. The implications of the Internet are still vast. Vast. We are still not applying current technology in ways that are truly transformative.” - Brian
- {00:43:10} - “With fusion power and quantum processing maybe we'll be able to do it all. Until that day, I think we're going to be butting up against the limits.” - Brian
- {00:45:32} - “Commerce has followed a lot of parallels that replace the role that spirituality and community have had in people's lives. And what if we realize that those things just don't fulfill and we need to find within us something that gives us hope? Buying more things, shopping like a billionaire on Temu does not give us hope. But finding community and people of like mindedness and trying to tap into something greater than yourself can give you hope that defies the inevitability of certain demise.” - Phillip
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