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The following video transcript is generated automatically by a computer algorithm that learns and gets better on a daily basis. Please accept our apologies if some content below doesn’t make sense:

Hi, everyone. Welcome to the Daily Dose podcast. This is the podcast where we pick out things from the news and social media that’s interesting to us as entrepreneurs and as business nerds. I’m James and I’m joined by my co-host, Marcello. I made. How are you? Good, thank you. Very good. We’ve got a few slight different topics. This episode, I’ll kick it off with the first one. And this is something that’s cropped up in the news really recently on on a couple of occasions. And it’s the news that Facebook or most soulis Instagram are releasing a copycat competitive product, too. Tick tock. Tick tock. As upsy, you’ve been in the news quite a lot. President Trump has said he wants to ban it. It’s owned and run by a Chinese company. And there’s been a lot of talk in the press and in various other places about some of the data it might be capturing. Privacy concerns and things like that. So there’s a possibility that ticket is going to be banned. There’s also talk of Microsoft wanting to buy ticktock from its parent company. And then President Trump has said that he wants the Federal Reserve to get a cut of the deal if that happens. I’m not sure entirely if that’s legal or not, but fair play. And most recently, as of today, of this recording, yeah, Instagram has come out with its product called Real’s, which is looks to be a very sort of close tick tock clone. This isn’t the first time that Facebook or Instagram have done this. Can you tell us the story of Snapchat?

Yes. So I think Matt meant to break it down there is they let political issue then that the copycat issue. So it’s so place would be issue tried to acquire any small competitor that it’s growing fast or just copy what they are doing. And given they have like massive distribution, even if they they don’t, you know, become possible with their apps. They they just tried to stop them from growing or create some damage.

So, yeah, that comes back to us. A Break-Up of big tech. We talked before. I think they are on their own. Right on just trying to, you know, imitate the service or a product that is working and try to improve the experience of their own users. Sounds great. I don’t see anything wrong on trying to release similar product. I think, though, that context, it’s quite controversial because there is also the say that Facebook has been lobbying for Tick-Tock to be banned, which I’m not sure. I mean, I cannot prove it, but I wouldn’t be surprised, I must say. I mean, all these big tech companies, they are just people constantly lobbying for them in Washington to avoid them being broken up. And also I. Else. So.

Yeah, there are days. I mean, just for people that are not into the topic that much. So essentially China, the argument is that China basically bans all the U.S. tech companies from foreign companies and go to enter China. So there is a case of why are we letting Chinese companies enter the U.S.? So let’s tit for tag and then see what happens. So they should open up first or we’ll push your companies. You know why Wei was banned now? Tick tock. So who are ways a state company. Go and tick tock is not. Well, they are kind of close to each of their own country of birth, let’s say. So they are quite international. They never received any money from the Chinese government. But the thing is, in China, there is this law that they passed a few years ago where any private company or any Kombai organisation in China should release to a government any information requested. And they the government doesn’t need any warrant or special court order, whatever. They just go ask and you need to provide the information. So because of that, even. So, again, Victorville’s, a Chinese company, there is a very, you know, clear case on data issues, on all the data they got there for I think there is one hundred million U.S. users.

So even if the servers are in the U.S. on a lot, it’s changed. Who are asked for information? They will get it. So then how that interferes with Microsoft and trying to buy them?

It’s a different story. President Trump asking for a cut, a clear cut size. Yeah, I think many people would like it. Yes. It’s more like a private sector deal. I think they should need to get involved in politics, but some politics in the private sector also or the least possible. But if people can benefit somehow from those deals, that could be interesting. I’m not saying it’s right or wrong to bandy doke or or do what they’re doing. But certainly they have some grounds. So, yeah, Facebook imitate. I acted actually. Very good timing. Suspicious as well. On the. Yeah. On the copycat product. I don’t think they would try to replace Decter unless it’s banned completely. Maybe people have no option, but yeah, they are on their own. Right. And then yeah, the politics around this issue gets a turn. Interesting. And yet the bottom line or the most the mostly controversial or potentially damaging situation for Western countries or or U.S. even is the power of big tech. I would say rather, Don, what’s going on on the copy, God or Benedicto? It’s more about the Monopoly’s not not letting you know other businesses to flourish because they acquire ARELY or they just copy them and go with massive distribution. They don’t let them grow. So and that applies also to Amazon with retailers. And not to mention, of course, I mean, Apple with their distribution on their Apple store to. So. Yeah. Amendment many cases.

Yeah. I think.

In business, in general, as in science and many other things, you know, progress happens by standing on the shoulders of giants. Right. So, you know, imitation and iterating on stuff that works is, you know, how how their whole machine moves forward. So, like, where do you draw the line between, you know, complete copycatting vs. iterating on sort of successful business model or an innovation or something like that? I think it was it was particularly newsworthy not only because the Tick Tock association, but because, like Facebook and Instagram have been accused of doing this before. So when they launched Instagram stories, that was essentially a very close copy of what Snapchat was doing. And the intention was obviously to each Snapchat lunch. Now snap. The corporation has managed to survive surprisingly and is doing really well these days, but there was actually a story behind that because Snapchat itself was accused of being a clone of a previous ATCO shots. The Shots app did short factor expiring video stuff and had a fairly sizeable user base even before Snapchat came in. So, you know, it’s it’s copycats all the way down. And you can make that case for any business in many cases. You know, if you start a accountancy practise a year, copyright copying TWC. Are you a copycat?

Well, actually ticked up so that parent companies go by dust.

So they initially beat you up. Was Vice, which banned the replacement app or copy got for DOT was musically by acquired musically and turned into Tick-Tock.

So again, even their story is not from their as it was Vine rather than vice.

It was a call that was acquired by Twitter and then killed, as Twitter does with all acquisitions.

That’s true. So changing now into our more, let’s say, entertainment for entrepreneurs. Possibly Netflix shows or enter into binaries, but yet we’re talking more internally about it. But so my picks. I put a list together. Short list. It will be Shark Tank. There’s a UK and Canadian version, which is called Dragons Den. I’d personally like more Shark Tank, maybe because of the show itself or the deals there are.

It’s more dynamic, doesn’t it tend to have like heavy hitters as the investors? They seem to be sort of bigger names and bigger purses than the ones we seem to get on the UK versions?

Yeah, well, that’s maybe the thing. So so you have some billionaires there like Mark Q or so. I also have some fun with giving, Larry, but essentially the idea that they could go, they could fight, they fight way more between themselves and they also go seek bigger deals. So it gets more interesting. And I would say in that sense on the show, that’s been very successful. So, yeah, it’s an interesting watch. I think they only have one seriously Netflix, but I haven’t checked recently. So then other serious. I like his billions. So billions. I don’t think it’s in Netflix though, but it’s around so you can cheque are a few seasons. It’s an interesting one. So great doctors. So yeah. Go cheque it out. It’s from ACSU, like a hedge fund right there in New York which know roads with a lawyer who tries to enforce some of like insider trading information practises and and by the story goes way beyond that. And he gets fun. So then I also have my short list. The Big Short is a movie. What you’ve done Netflix. So definitely. So this is about then the crisis, financial crisis of sorts in ages nine and how these guys. It’s based on a real story and so on.

So how these investors essentially he restudy done their line assets of their mortgage in the US mortgage, more mortgage backed securities that were sold all over the world. He noticed that those mortgages were underperforming. So he assured them these stuck to it made a lot of money by the process, was very interesting. And also it shows about a lot about what was going on. By then, all the greed, then a nonsense. So, yes, it’s interesting for sure.

Then maybe not strictly about money and business, but money. Well, it’s cheap money, but not in the sense of business. Money pays.

They just go tried to rob banks like Bank, Central Bank of Spain, the Treasury and so on. But these are very interesting and very popular series on Netflix. Go cheque out. Then they all thought, oh, Fahd’s is more about like a family were. Dan, this accountant ends up doing accounting for some drug cartels and all this stuff. Laundering money. Very generous ways. Very, very creative ways as well. So and all of that, of course. Of course. Drama with cartels and. And doing such things, so it’s quite interesting. I’m looking forward for the new season, actually. And then just to wrap it up, maybe. Breaking Bad. So it’s not maybe business related for necessarily entrepreneurs. But this has been a great, very successful series on Netflix. So you’ve got some, you know, again, related on producing and distribution. Methamphetamines got great doctors. They had some business there going on. So you are I’m sure you will like it. So I’m sorry. Maybe I to quote from the list, but will. What are your your most preferred or do you have any.

Yeah. You you stole all the good ones from me. But I’m just not to typecast you. But you’re talking about sort of dodgy Spanish bank heists and drug dealings in a Latin American accent. Come on. But casting central bias. Yeah. Yeah. For me, I, I really enjoyed the film, Wolf, of Wall Street for a number reasons. You know, it’s good fun and it’s obviously it’s a true story, but sort of a pastiche of what went on. But it was really interesting to say, you know, that sort of high pressure, slightly dodgy sort of sales that goes on. And also, it’s quite interesting. The guy I forget is that name. But Jordan something or other. Belfour, was it? Yeah, he he does podcast things out. He’s a really interesting guy to listen to it, because even though, you know, he got up to some stuff that was maybe sort of a little bit close to the line, like he has a really interesting takes on some of this kind of stuff.

Well, one reason I think a few years or so and now he’s out. He’s doing these stocks. Yeah, he wrote the book and then the movie media buyer from his book is.

I am so I was also thinking, like, what would be good? What sort of good business or entrepreneurial things which are sort of currently going on that could make good assignment or good movies or good TV series in the future? I reckon I reckon that could be a really good series on the rise of Tesla. And like Tesla shorters and the current stock price of Tesla is, you know, almost infinite amounts of money. I’m not sure it quite so corresponds to the amount of money that they are going to make. But yeah, I reckon this could be seen great amounts and estimates we have from that. What do you reckon?

Yeah, I’m sure Ailun learn. He’s very media. I think so.

I’m sure he will show up for some interviews on that. And yeah I really like it. I like him as entrepreneur because he put a lot on the line when he had.

So he made a big exit with PayPal. But then he put it all into a like super high risk business models. I mean, because they were super capital intensive. You strengthen Strub like heavy industries that were not disrupted before. And he was very unclear how that will happen. But he did it. So, of course, maybe it’s overpriced, their stock, whatever. Even he said that. But it’s more about. Yeah, the confidence on. Yeah. Qiqi has shown on key basically I think is the confidence on him on how he can pull it off. Actually they are moving fast and they have also presence in the U.S. and China with this jigga factories, which are like massive facilities. So I think I’m not so sure. I mean, if people are quarantined or, you know, out of jobs, how is it’s gonna work out today? You know, the car industry, because they autopilots, which are essentially being promoted, does they hold trained on how those companies would enter to make a lot of money like like Tesla, Uber, etc.. But that’s nowhere near.

Not not to mention they’re leaving aside the regulatory aspects of it as it looks more like an assisted driving done like a fool. So the driving capability. So Dobson, who is supported, I think you should keep trying.

I will be a I will watch that series for sure. I also watched the one on Mars.

I remember now from Niger and I’m not sure if it was on Netflix. I think I watch it on YouTube. But yeah, I was I was not one recommended, but it was not super great. But it’s I like them that their narrative lets say, or downvote. So I would like to learn more on on space. Probably actually the space industry is growing not only with space X, but in jail. We met many, many competitors getting into it. So a series on that could be interesting even in our space, modern space race or some guess based race or like mining asteroids or base in the moon or Mars lie. Well, there have been a Star Trek and all that, but yet something more like business. Our business gains are much more tangible.

So there is there was an old British sci fi series in the I think the 80s or late 70s called Space nineteen ninety nine, which is all about moon base and all that kind of stuff. So maybe you go back and watch that with Israeli crap models made out of like matchsticks and glue that they put together in like five minutes for they shall sit there anyway. So talking about the Tesla autopilot. That’s a piece of software that could be described as not operating as well as it could or should or, you know, not quite reaching its full potential yet. I thought it’d be quite interesting for us to have a talk about what pieces of software that you have use either in your day to day or at your companies or anything like that that doesn’t, you know, sort of forced to use because there isn’t really any competition for it. But really, it is a poor piece of software and it just is absolutely right for being, you know, for a competitor to come along and sort of eat their lunch. There’s loads of stuff like this. As a programmer, I know I look at stuff all the time. And it just I think the number one for me that I came across that I just hated. Salesforce, I know, like sales organisations love it and they do loads of money and. You know, it enables a whole massive class of sort of business to get done. But as a piece of software and as a pro like trying to get things set up, we’re trying to get it to do what you want or do anything but that. Just it’s an absolute nightmare. And it’s in pieces. And. I think the the reason why, you know, they are inviting, you know, they make a lot money, cloud computing and things like that, they’ve got a marketplace, so they’ve got a lot people bought into their ecosystem. But I think that’s what generates inertia, where they don’t have to improve the underlying thing too much because a lot people make good money off the fact that it is hard to put together and it’s hard to make what happy and all that kind of stuff. And there are a lot of CRM competitors out there. All units of sales process management things out there. Have you had any experience with the fun of Salesforce?

Well, I would agree with you. I have a fun salesforce to be their most annoying.

So also, if you are not a programmer, when you hire any software as a service, then you expect to be very intuitive, you know, to just good. Go pay with your credit card on get started. I saw the case with Salesforce there.

It’s actually a big business on being on own companies that help companies to set up their own bespoke salesforce. So that proves how gay caseloads of capabilities to to, you know, automate many are organised processes in your business. But is it’s it requires a lot of work and the interface, it’s quite complex as well. So, yeah, I think the thing is, if it gets too complicated or not working as expected, any software on the company side board would just change to our options. So very quickly, which lack I think Slark is fine is for for a purpose. So I have no major complaints on that. One will come in using it. I like the fact that they are dynamic as well and how they price it.

So if you if you have a you service that are not using it, that’s often then you get credits as well. So it’s dynamic based very. I would want to be billing your per use and it definitely helps when teams are in different time zones to get things organised.

So, yeah. So like I say, it’s fine. I’m I’m disappointed with some like apps. It’s not big pieces of software, but all these cloud apps for marketing lie.

We use active campaign. And I don’t know what’s going on with those guys, but they they their support is quite poor. And one, some features don’t work. You get stuck. You can wait weeks to get things sorted. Then others like more traditional like HootSuite or those. Eh. Yeah, it’s not really are being much value so I think they will be done by someone else. So we’re talking about internally as well. Not many days ago about that.

It will be great to have a proper like a powerful marketing tool where you can really consolidate old analytics and make sense of them, not only have old analytics but make sense of them or even get recommendations on audiences and clusters. So currently it’s very fragmented. You know, you’ve have their Facebook and will analytics then and then know what’s going on in social media.

Then you have your e-commerce information. So, yeah, so far we keep working on bits and pieces with different tools. But yeah, it’s something that we can definitely be improved from. They do analysis point of view to make your life easier broadly. Yeah.

I so we talked in a previous podcast about aggregation versus unbundling as a, you know, a path to market reach market. So that would be an aggregation play for you. I don’t know that the incumbents will be too happy about being turned into just like a data feed commodity where someone else can sort of get the cream off the top. A lot of times with it, when things are very fragmented like that, the reason why it’s fragmented is because there’s lots of proprietary data and proprietary systems that want to stay proprietary. Right. Because they want people within their ecosystem and they don’t want just to be a data provided to something that’s that’s higher up the food chain, I think. So the reason why I added slack to. The list is not as sorry that I think Slack is a poor piece of software necessarily. Although the desktop version of Slack runs of the thing called this is a bit programmer now, but runs a thing called electron, which is basically a way of bundling a Chrome browser into a desktop application. But it’s an absolute resource hog for what it does. If you far up slack, which is essentially just sending text messages backwards and forwards, mostly, you know, it will use up all your ram. Don’t make your fans spin up. You can’t run anything else at the same time. So I’ve got a bit of an issue with it on that front. But the main problem I have with Slack, and it’s not just a slap second is, but it’s like any instant messenger kind of project management thing is that.

It you have to have well-behaved citizens on the platform because as soon as you have someone who isn’t a well-behaved citizen, it virally infects everything about that platform. So Slap, for example, enables micromanagement. Like real slow top down stuff, because the people who are causing the problems on the platform are not the ones who feel the pain. So, for example, it’s, you know. If your if there’s a product manager who wants to be getting updates every time they come up with a brand new brilliant idea, they type it into slack and drop it and drop it in a drop. And then the people who are actually executing on those things just get this constant drip of stuff and about 20 different conversations in different places. They’ve got to keep track of. And, you know, it splits off into threads and goes all over the place. And so next thing you know is is same as e-mail really is you spend the entirety of your time in the communications doing the communications and not actually executing it on any of the tasks. And so slack is an enabler of bad behaviour. So slack itself, I don’t think is a poor piece of software, but I think it’s a. As an enabler of bad behaviour, let’s you as an organisation are very hot and strict on the rules of using it as a platform. Then in battle, you know, it’s a bad organisations. It very quickly becomes a bad organisation. But just organisations that don’t appreciate that this might be a problem. It can cause like a massive sort of snowball effect of bad behaviour and problems and inefficiency that that was my main sort of issue with slack, to be honest.

The way I usually as a supervisor of like some victims, I just monitor slag on what’s going on. I will ask specific things, but I won’t bring into slag lie discussions or brainstorming or all that because I will. Will we end up centralised? You know, we are the head of development. So if I want something. All right. Are what, five different ideas, I will bring it to him or create outsized like a small group to go discuss them. And then he will go feed it on the right places.

It was more like an ecosystem for our dev team down like in tri, you know, sector or guys stay within the organisation on how to communicate unless you are very strict on policy, on specific groups. As you said, I mean, you need definitely need to be very organised or you can go out of control very quickly.

And you got annoyed people especially that the number one bad actor on Slack is the person who just only have a place in the general channel. And just at mentions. Everyone at mentions. All for every single thing or at mensches people. And it’s like Nigers. You got to have the conversation there. But, you know, that’s that’s that’s. You might tell that I have a bit of sort of past history.

It’s like, oh, I’m definitely annoyed people as well. So I know what you mean. So, yeah.

And so it’s it’s a good point. I agree. So if it’s Luckies, anyone France like is listening to these just. Yes.

Or all or if or if there’s a you know, an entrepreneur which can find a way of doing like NSA messaging and like the communication system which helps remote teams, but it forces good behaviour. I think that’s that’s what we’re looking for. Yes.

Let us know and we’ll invest in surprised that WhatsApp never evolved for businesses as much.

Yeah. I mean, they have been trying to buy they never opened up really their API or neither for advertising. So not sure what’s going on there. I mean, they don’t want to tacy and they pay a lot of money for that day nowadays. That’s kind of the norm. You know, you don’t need to make money, seem to do what we want.

Do we want Facebook adding to them on a plane? I’m not sure that we day doing this other day.

They is part of. Facebook is monopoly on that sense. I think it’s the most downloaded app worldwide, or at least eight in the Apple store. But they make no revenue or maybe or not that I know if they don’t do advertising, make out a few pilots for businesses and they paid like 20 billion or more. 40 can remember now, but yeah, insane just to see what happens. But they got this fusion, so. Yeah, that will be for another podcast, I guess.

Absolutely. Yes. Where can I go off and do a tick tock between us. So thanks very much for listening. We’ll be back next week with some more nuggets of knowledge. In the meantime, please do cheque out our YouTube channel, which is where we post this and our other podcasts. You can search for net workers on YouTube to us or you can find the link in the show notes below. If you’re interested in a deep dive into all things entrepreneurial, including more detailed information, help mentorship and courses, please cheque out our Web site. And that is that network as DOT Co CEO Nexon. Thank you. But.

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