How Citi’s UX costed it $900m:
1️⃣ On a debt instrument, the bank was supposed to pay out interest only
2️⃣ To prevent the payment of principal, you have to (confusingly) check 3 boxes: “Front”, “Fund”, “Principal”
3️⃣ The employee clicked “Principal” but not the other ones...😬
On a related note, Citi has 193 job openings for "UI" right now
1/ There's a communications technique called "Public Narrative". Created by a Harvard prof, it has influenced leading politicians (Obama) and business people (Bezos).
Once you learn it, you see it everywhere...like in Vlad Tenev's GameStop speech.
Let me explain 🧵
2/ "Public Narrative" was created by Marshall Ganz, a Harvard PhD, community organizer & Harvard lecturer.
It's a way structure speech so to persuade and turn values into action. It's been used by lawyers, politicians, activists, PR, teachers and business folk of all stripes.
3/ "Public Narrative" is composed of 3 parts:
• Story of self (a personal story, which invites listeners to connect w/ the teller)
• Story of us (a collective "we" story to show shared purpose)
• Story of now (an urgent story to create action)
— Moanday (an erotic shared team work platform)
— Chopify (butchers-as-a-service)
— La MBA School (a sexy french online business school)
— Loinbase (a marketplace for delicious pork cuts)
— Cumroad (hahahahahahh)
More bangers!
— Kinkedin (fetish dating app)
— Factbook (This is very accurate)
— Spaced (Elon's weed startup)
— Innercom (a chatbot for talking to yourself)
— Lotion (for smooth ops documentation
— Twatter (Ted Cruz's personal social network)
1/ In 2018, Elon Musk backed 2 alum from The Onion w/ $2m to launch Thud! -- a satirical media venture that was to be the start of an "intergalactic media empire."
The venture failed, but created some hilarious projects.
Here's the story...it starts with an Onion article 🧵
2/ Its 2014, when $TSLA was worth ~$40B.
Musk -- a long time fan of The Onion -- reached out to the team about an acquisition after reading this article.
The deal falls apart b/c Musk didn't want to buy Onion's news business (AV Club) or its ad biz. theonion.com/we-re-going-to…
3/ The failed deal doesn't blunt Musk's fandom.
In a Rolling Stone interview, he (prob seriously) says "In order to understand the essential truth of things...I think you can find it in The Onion and occasionally on Reddit.”
He also happily calls them out on Twitter for jokes: