Mags joins Phillip and Brian to discuss the role of Web3 and the blockchain as we enter into the new wave of commerce. Does Web3 open up a new world of possibilities for brands to interact with and meet the needs of their customers? How can brands and investors partner with celebrities to solve problems? Listen now!
Mindful Web3
- A successful approach to Web3, from a brand perspective, is asking questions like "Why would we do this? Why should we care? Why should our customers care? And what can we bring to the table that's different and unique because it's built on blockchain?"
- “We are just going to be scratching the surface right now of the Starbucks product, but it will embolden other brands to think about what they can do and what they can do in the right way as opposed to a campaign PR-y way.” - Magdalena
- “If you want the ultimate decentralization something has to give because you can't have it all in the blockchain context. You either get cheap transactions or you get ultimate security in decentralization and you can't have everything at once.” - Magdalena
- Does aligning with a celebrity institute a playbook that other consumer brands have used to try to gain scale?
- “If a celebrity has a brand, then a brand itself is also a mind virus that will find a way to propagate. Extremely successful brands are just very efficient propagation of a virus that likes to replicate. And that's why we have enduring brands that last for centuries.” - Phillip
- “The magic happens when you are really good at multiple things because you have something that no one else competing with you in each individual area.” - Magdalena
- “One of the things that's a big misconception of private equity that I hate that it's all just acquiring, stripping it off, and then question mark, question mark, question mark, profit. That's not how this works. It's very much a partnership because there is something magical in the underlying business and there is a value that the private equity firm can bring to grow it faster than it would grow on its own, independent of just the capital.” - Magdalena
- Commercially-minded celebrities can help investors solve problems of distribution and attention with the networks they already have.
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