The four-letter code to selling anything | Derek Thompson | TEDxBinghamtonUniversity

Novelty: (new) vs Familiarity (exposure effect)

Is it possible to engineer a familiar surprise.

.. Raymond Loewy, the father of industrial design, had a theory. He was the all-star 20th-century designer of the Coca-Cola fountain and Lucky Strike pack; the modern sports car, locomotive, Greyhound bus and tractor; the interior of the first NASA spaceship; and the egg-shaped pencil sharpener.

.. His grand theory of popularity was called MAYA: Most advanced yet acceptable. He said humans are torn between two opposing forces: neophilia, a love of new things; and neophobia; a fear of anything that’s too new. Hits, he said, live at the perfect intersection of novelty and familiarity. They are familiar surprises. In this talk, I’ll explain how Loewy’s theory has been validated by hundreds of years of research — and how we can all use it to make hits.

The Spotify Weekly New Music found that it was helpful to include some familiar artists or songs.

Why do first names follow the same hype cycle that fashion follows.

It’s up to us to kill false information. Good luck.

Individuals bear much of the blame for fake news. The study found that false rumors travel the Internet much more rapidly and widely than facts. These untruths get their velocity and reach not from celebrity influencers but from ordinary citizens sharing among their networks.

Evidently, we humans have a strong preference for novelty and sensationalism over scrupulous reality.

.. “Falsehood diffused significantly farther, faster, deeper, and more broadly than the truth in all categories of information,” the MIT scientists concluded after examining more than 125,000 stories shared by more than 3 million Twitter users. The most viral lies, they found, involved “false political news.”

.. Politics is tribal. It is a way of organizing conflict.

.. We are inclined to credit anything we hear from our allies and to believe the worst of our foes. In politics we see information as potential ammunition; we evaluate it for its potency and lethality rather than its strict veracity.

.. the Internet smokes out our self-deceptions and shows us as we really are.

Gambling and porn flourish on the Internet. Reasoned civil discourse, not so much.

.. This is a profound blow to idealists of the marketplace of ideas. From Adam Smith to Friedrich Hayek to James Surowiecki, the author of “The Wisdom of Crowds,” wise thinkers have emphasized the positive economic effects of dispersed power. A great many people, free to pursue the wisdom of their experiences and the perspectives from their vantage points, will arrive — as if moved by an invisible hand — at better results than any single mind or central planning bureaucracy could achieve.

.. But it turns out that the crowd is wise only when it is asking the right questions. A crowd determined to get the best value on flat-screen televisions will soon discover the proper price; but a crowd swept up by tulips or cryptocurrency may find itself pricing euphoria instead of value.

 What we see from Twitter and other platforms clearly signals that too many people are asking the wrong questions
.. our ability to spread our careless and malign thinking is brand-new. Of all the digital-age jargon, perhaps none is more apt than “going viral,” because the contagion of bad information is a matter of individuals passing germs from host to host with geometric speed. Only disciplined digital hygiene can halt the epidemic.