Blockchain Position Piece – No More Lies, Tokenize! (Part 1)
Why Should I Even Read This?
I know what you’re thinking: it’s another white paper. Companies, Universities, governments and individuals write white papers. They are usually trying to promote something sell something, or pitch something. Green energy firms write white papers on the benefits of green energy. Universities write white papers on the benefits of higher education. Pharmaceutical companies write white papers on the benefits of their drugs or their treatments. Hey, even cigarette companies concoct white papers on the benefits of smoking cigarettes! But I’m not trying to pitch you. I’m not trying to get you to buy something, hire me, love me, kiss me, or work with me.
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This is just a presentation of truth. And that’s the big difference. Sure, it would be great if more people worked with us. But this essay should educate, inform, and give a reality check. A lot of companies out there don’t want reality checks.
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My dear friend in advertising called this a “position piece.” Ok. Its a position piece.
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In decades of business I’ve gotten a chance to work with hundreds of CEOs…and always asked them one question:
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“Do you want to hear the truth?”
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The answer has always been “yes.” 100% of the time the CEOs have said “yes I want the truth.” However…no one means it.
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In countless companies, joint ventures and consulting assignments I’ve only met two or three CEOs who actually want to hear the truth.
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It’s funny, because 99% of the time my team is called in because a company has a problem that needs fixing. And the dynamic I’ve seen in decades of business is: people want to do the same thing, the same way, with the same people, but get a different result.
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No, this piece isn’t the: “Great White Management Paper ” and I’m not trying to fix any companies. My mentor told me years ago that most companies don’t want to be fixed. I should have listened.
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In the early 90s, my team spoke with one of the largest publishing companies in the Midwest. We were discussing the Internet. The executives all told me the Internet was “snake oil” they said websites were “ridiculous” and then they lectured me as to why this new technology wouldn’t apply to their business. That company is out of business now.
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When I got into 3D Printing, we met with companies all over the world – discussing where 3D Printing was going, and how the technology would revolutionize and democratize manufacturing. Most of the time we were told it would never work, never replace an assembly line, and hence, shown the door. Meanwhile the industry has exponentiated in the 10 years since those meetings.
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During my involvement in international market entry, we showed companies that they needed to have a presence overseas. We demonstrated that many of the countries being ignored will become very powerful markets, and very formidable competitors. I can’t count the amount of times the inane line was: “Well we’re going to dominate America first before we go overseas.”
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You see, this is just human nature. People are afraid of what they don’t know. We’re all afraid of death because no one‘s ever come back and educated us. People are now afraid of the new economy. Governments are terrified of Crypto, NFTs and Blockchain. They may be trying to embrace it but they’re still scared of it. Talk to your banker about Crypto and your banker will tell you she hates it. 2 years ago, the CEO of a top 5 bank said that Crypto was a scam and his bank would never push it. That same CEO recently directed his company to spend billions of dollars getting into what they call the “Metaverse.”
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The minds change quickly
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Don’t blame the messenger, but most business decisions are based on two things: fear and greed. Any salesman hawking Life Insurance will tell you the same thing. So let’s get acquainted with what’s changing in the world and in this new economy. You can respond to the fear of not knowing about it and/or with the greed of wanting to get in on the party. Or you can not respond and miss the party.
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My partners and I have set up a firm to uniquely take advantage of this trend. But this isn’t a sales pitch. It would be a mistake for me to convince a company to set up in China if they hadn’t already bought into the idea. My former firm could simply show them where the landmarks, pitfalls and opportunities were.
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And then we could get them their firms in China. But convincing someone to go into China? That would be a mistake. It’s a mistake trying to Tokenize a company when they don’t see the possibilities.
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Let’s make this paper amusing and not let it read like every other white paper out there. No “techno speak.” This ain’t gonna be the Magna Carta.
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Bluntness only helps – it compresses time.
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So see if you can nurse your way through these next pages. Pop open a beer if you have to, or coffee up.
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