Manage episode 216448924 series 2292019
New York Times best selling author and CEO of Deeper Media, Tim Sanders, joins Jay on the podcast to talk about best practices for executive management and leadership in "Coinworld" (aka blockchain and crypto businesses).
Tim explains why he believes executives with high emotional intelligence (EQ) produce more positive experiences for their business partners and investors. With the inherent volatility of funding in the crypto space, which impacts the "mood state" of these businesses and success, Tim believes that the best executives are those focused on emotional talent development, improving themselves and having a strong sense of generosity and social good.
Tim and Jay talk about why it's important to understand the "mood state of your Telegram," as it can have a huge impact on your treasury and success. We talk about the impact of "Fear, Uncertainty, and Doubt" (FUD) and "Fear of Missing Out" (FOMO) on consensus models, and why emotion, business and consensus live together in crypto businesses.
Tim and Jay discuss why transparency-focused strategies for managing customers and investors in the old world, don't always work the same way on Telegram in "Coinworld." He believes executives must temper immediacy spikes that can distract from long-term goals, and why it's important to speak fluently on social for all levels of investors. We discuss a few bad practices for crowdfunding businesses, including fighting in public and talking down to people.
Tim talks about the importance of founders being hyper-present in "Coinworld," without relying too heavily on outsourcing and scripting in social. He calls this "Jeff Bezos, where's my damn package?"
Tim reviews a few of his best practices for managing the crowd. He believes a video one-on-one is an under-utilized tool for channel management, given that video is 5x more likely to improve how much someone likes you after engaging with them (people look at your face 15-20 times per minute to establish kinship and familiarity).
Tim talks about why he's so excited to advise crypto businesses, offering a little background on some projects he advises including QuantmRe, which is working to bring real assets and fractional ownership to real estate with tokens, and the Divi Project, which enables one-click simplicity to the end users for very technical master node management.
Tim talks about Deeper Media's quest to find the top leadership and management channels for blockchain developers and employees, and why there's a talent crisis in the space.
Tim and Jay talk about the soon-to-be-disrupted $65 billion industry for moving money across "imaginary lines," and where all that money will go. Tim delves into why he has such respect for Brad Garlinghouse, CEO of Ripple, due to his ability to execute with real managers and a well thought out, pro-government approach.