Here are 7 different marketing ideas that can be adopted during these difficult economic times brought on by the pandemic called Corona virus. Given below each of them is a link where you can click and read more about each of those topics to get a good handle of how it works. In some cases, there are even step-by-step tutorials, guidance and tools needed to get you up and running as quickly as possible.
Logic says that it would be very useful for recruiters to know when they are being deceived by job applicants and when they are telling the truth. You would think that since the industrial revolution era, management best practices should have provided hiring managers with the ability to pick up the subtle signs of deception. But it hasn’t. Essentially, when recruiters interview job candidates, they are talking to strangers. Hence, they are trying to gauge the veracity of what they say. Sometimes they trust the candidates and sometimes they don’t. To understand this better, let us examine the dynamics that happen in the interview room based on the in-depth studies and research done by Tim Levine.
Truth default theory
We tend to trust a stranger way more than we distrust them. A famous empirical psychologist named Tim Levine has thought much about the problem of why we are deceived by strangers. Baffled by why we are all so bad at something that we should be good at, Levine has done thorough researches on this matter. His answer is called the “Truth-Default Theory” or TDT. The big insight from these studies was that 54% deception-accuracy figure was averaging across truths and lies. What he meant was this. If someone tells you that your accuracy rate is around 50%, the natural assumption is that you are randomly guessing. But that’s not true. We are much better than chance at correctly identifying those who tell the truth. But we are much worse than chance at correctly identifying those who are lying. We have a default to the truth. Our operating assumption is that the people we are dealing with are honest. The truth-default theory operates from the assumption that everyone is telling us the truth and we go about working around that assumption. In other words, we take people at face value.
To get out of truth-default approach requires what Tim Levine calls a “trigger”. A trigger is not the same as a suspicion or the first sliver of doubt. And even if we have any suspicions, they are not enough to trigger us out of truth-default. In other words, although we need a trigger to snap out of the default to the truth, the threshold for triggers is high. That’s why we are terrible at detecting lies in real life and that’s why recruiters believe what the job candidates say. You see, belief is not the absence of doubt. We believe someone not because we have no doubts about them. We believe because we just don’t have enough doubts about them.
‘Some’ doubts and ‘enough’ doubts
Tim Levine here makes a crucial distinction between ‘some’ doubts and ‘enough’ doubts. He argues that we keep believing a person despite seeing some red flags because those red flags are not enough to push us over the threshold of belief. That’s the key to all of this. The threshold of belief. It means that until and unless the triggers reach a certain threshold we remain at a truth-default mode. We fall out of this mode only when the case against our initial assumption becomes definitive and overwhelming. We do not gather evidence of the truth or falsity of something before concluding. On the other hand, we do the opposite. We start by believing. And we stop believing only when our misgivings rise to the point where we can no longer explain them away. Doubts trigger disbelief only when we can’t explain them away i.e. when it reaches the threshold. This profound point explains why recruiters believe what the candidates say in a job interview.
In real life
Tim Levine argues that defaulting to truth is not a crime. It is a fundamental human tendency. In general, every human being is equipped with the same set of biases to the truth as everyone else. We default to the truth because that’s our operating system. The simple truth is, by defaulting to the truth, we are only being human. Without starting from a state of trust, we cannot have meaningful relationships or social encounters. Tim Levine reminds us that under the circumstances, defaulting to truth makes perfect sense because, throughout evolution, human beings never developed sophisticated and accurate skills to detect deception as it was happening as there is no advantage to spending your time scrutinizing the words and behaviors around you. In real life, accumulating enough evidence to overwhelm our doubts takes due diligence, which takes time. Consequently, because we trust implicitly, spies go undetected, criminals roam free and lives are damaged. But Levine’s point is that the price of giving up on that strategy is much higher because the air around us would be very thick with suspicion and paranoia. That is the consequence of not defaulting to the truth. We default to the truth even when that decision carries terrible risks because we have no choice. Society cannot function otherwise. And in those rare instances where trust ends in betrayal, those victimized by default to truth deserve our sympathy and not our censure.
Back to work
Hiring managers, listen up! You’re doing a perfect job by going by your instincts and trusting your gut feelings when trying to estimate the accuracy of the job candidate’s answers. You are being human by defaulting to the truth. However, it can get better and better through experience. Therefore, when one says that he or she is an experienced human resources manager what that means is that, that person is much better than some of his or her other counterparts in hiring the right person for the right job. Tim Levine would agree with you.
Disclaimer: This blog post is adapted from the book “Talking to Strangers” by Malcolm Gladwell published by Little, Brown and Company in 2019. Malcolm Gladwell rose to prominence when he published his ground-breaking book called “Outliers” in 2008. He is also the author of many other bestsellers such as Tipping Point and Blink. Gladwell, born in 1963, is a Canadian journalist, a public speaker and a staff writer for the New Yorker since 1996. In 2005, Time magazine named him one of the 100 most influential people. And in 2011 he was awarded the ‘Order of Canada’, the 2nd highest honour for merit in the system of orders, decorations and medals of Canada. Malcom Gladwell currently runs a podcast called Revisionist History.
Charlie Shrem the first Bitcoin felon went to federal prison in 2015 for 2 years. Upon his release he went about strengthening the ecosystem of blockchain. A real breakthrough came when he created a prepaid Dash debit card. He then joined Intellisys Capital and decided to raise funds in the form of initial coin offering but got cold feet, as he feared the intense scrutiny from the authorities and eventually backed off.
The Bitcoin community in the early days believed that the free flow of capital is a human right. The members were together in its sense of mission, which they considered was righteous. Because the digital currency circumvented central banks, many of its first adopters were libertarians, black marketers and anarchists who wanted to conduct business away from the watchful eye of the government. They were gleeful at Bitcoin’s impending triumph and enraged by any show of malice or incompetence by the big banks and the government.
Leads to collapse
A case in point is Charlie Shrem, the founder of Bitinstant, who was the first Bitcoin felon. He squandered the opportunity to make the company a world-beating one by helping drug dealers source funds. Upon his arrest, Tyler and Cameron Winklevoss, the venture capitalists, disavowed Shrem and would go on to scoop up 1% of all the Bitcoins. Depending on each person’s point of view, this fact makes Shrem either a martyr or a criminal who got what he deserved.
Job at Jaxx
After the release from prison, Charlie Shrem was ready to seize any suitable opportunity that came along to get in on the door. That lot fell to a full-time job as the head of business development at Jaxx mainly because the values of the company appealed to him. Shrem is no longer operating for himself but has landed a job at this startup that allows holding separate balances of different digital coins in virtual wallets. It also lets users exchange virtual currencies and digital money with one another all over the world. Anthony Dilorio, an entrepreneur who was also the co-founder of Ethereum, founded Jaxx too. The company wants to expand to China and Shrem will play a crucial role in that process. He is in charge of working with developers and turning relationships into revenue.
Right the wrong
Today, Charlie Shrem is a free man whose world has changed dramatically for the better and is using his skills to strengthen the community. He thinks that if he can build Jaxx, he will be an industry player again like old times. Having helped Bitcoin grow to a giant, he is confident he can tell which ones do not have real promise and which ones have. He expects to see technology where Bitcoin, Dash, Ethereum and other networks communicate. For instance, the balance in a Bitcoin wallet could trigger an Ethereum contact and vice versa.
Blockchain digital tokens
Today, many of the blockchain assets are not digital currencies like Dash or Bitcoin. They are tokens. They are different from digital money because they lack a blockchain. Instead, they run on existing blockchains and are built for specific applications, like a marketplace for computation, a blockchain-based advertising platform, or a crowd-sourced prediction market. These days $6.6 billion worth of digital tokens change hands every day, and the numbers are growing.
Initial coin offerings
The creation of digital currencies is through mining, but the production of tokens is through distribution in crowd sales called initial coin offerings. These crowd sales raise funds and give potential investors their first opportunity to grab a piece of the service. A token is a wealth-sharing mechanism where everyone, from hedge funders to consumers, places bets on or take positions in the future of the Internet. Several initial coin offerings have been launched already raising $230 million in 2016, followed by $450 million in 2017.
Digital token business
The tokenization craze constitutes Internet’s second business model, says Carlson-Wee a hedge funder who is backed by Andreessen Horowitz. Take the case of Facebook as a company issuing initial coin offerings as an example. If Facebook had published a token, with its value from the content and connections, then early users would have scooped up a significant amount of those tokens at low prices. Late adopters might have found themselves able to afford just a few. But all who were holders of this digital asset would have been able to participate in the growing success of Facebook. But, of course, this is not the case, and that is not how it works neither is it as easy as that. Only Mark Zuckerberg and company stockholders share the value of Facebook. Most other platforms operate on the same principle where their owners extract value from interactions between users.
Career in blockchain
It is the cryptocurrency gold rush era, and associated jobs have soared as its value continues to rise. According to the job site Freelancer, cryptocurrencies have been one of the rapidly growing online jobs. The practice of code-breaking known as cryptography, which is central to cryptocurrency, has also seen an increase in interest on the site. According to Zippia.com, a career website, most cryptocurrency jobs are for developers with tech skills including building full stack applications. Companies are searching en masse for qualified developers, promising substantially high salaries.
Skills worth sharpening
Job candidates who understand initial coin offerings would have an extra competitive edge. It is a method borrowed from the financial sector whereby capital is raised by putting up a new virtual coin for public sales. Knowing how to write smart contracts and a good understanding of Ethereum is another skill worth sharpening.
Awareness of basics
A variety of literature on what Bitcoin is and how it works is readily available online. Interested applicant should read it up to be aware of the basics before applying in the field. But every blockchain-related jobdoes not require a comprehensive grasp of the technology. Most of these companies also hire people in marketing, communications and human resources, just like any other business.
No unified source
Although cryptocurrency jobs are booming, there are no centralized locations to find them. A simple search on Google for initial coin offerings and token sales will bring up some startups in the blockchain space. Looking beyond traditional job-listing sites would help too and is highly recommended. Looking at specific Bitcoin forums can help find job listings in the industry and keep up with what is happening. Being involved in the cryptocurrency community creates more authentic and reliable means of detecting positions and networking.