my first time at ted normally as an advertising man i actually speak at ted evil which is ted 's secret sister organization the one that pays all the bills it's held every two years in burma
actually
years working in the business that what we create in advertising which is intangible value you might call it perceived value you might call it badge value subjective value intangible value of some kind gets rather a bad rap
if you think about it if you want to live in a world in the future where there are fewer material goods you basically have two choices you can either live in a world which is poorer
which people in general don't like or you can live in a world where actually intangible value constitutes a greater part of overall value
actually intangible value in many ways is a very very fine substitute for using up labor or limited resources in the creation of things
mister picky i'm just an ad man but it strikes me as a slightly unimaginative way of improving a train journey merely to make it shorter now what is
what you should in fact do is employ all of the world 's top male and female supermodels pay them to walk the length of the train handing out free chateau petrus for the entire duration of the
now
you'll still have about three billion pounds left in change and people will ask for the trains to be slowed down
they cost very little to develop they work extraordinarily well
it actually works by giving you the impression that you've had a very good education which gives you an insane sense of unwarranted self confidence which then makes you very very successful in later life
because he realized that if you had two sources of carbohydrate wheat and potatoes you get less price volatility in bread and you get a far lower risk of famine because you actually had two crops to fall back on not one
so he tried plan b he tried the marketing solution which is he declared the potato as a royal vegetable and none but the royal family could consume it
and he planted it in a royal potato patch with guards who had instructions to guard over it night and day but with secret instructions not to guard it very well
is one pretty safe rule in life which is if something is worth guarding it's worth stealing
two very fundamental things which is that actually first one all value is actually relative
all value is subjective second point is that persuasion is
better than compulsion these funny signs that flash your speed at you some of the new ones on the bottom right now actually show a smiley face or a frowny face
actually there is a thing just as there are veblen goods where the value of the good depends on it being expensive and rare there are opposite kind of things
where actually the value in them depends on them being ubiquitous classless and minimalistic if you think about it shakerism was a proto environmental movement
adam smith talks about eighteenth century america where the prohibition against visible displays of wealth was so great it was almost a block in the economy in new england
because even wealthy farmers could find nothing to spend their money on without incurring the displeasure of their neighbors it's perfectly possible to create these social pressures which lead to
more egalitarian societies what's also interesting if you look at products that have a high component of what you might call messaging value a high component of intangible value versus their intrinsic value they are often quite egalitarian
in terms of dress denim is perhaps the perfect example of something which replaces material value with symbolic value coca cola a bunch of you may be a load of pinkos and you may not like the coca cola company
basically have to change our views slightly there is a basic view that real value involves making things involves labor it involves engineering it involves limited raw materials
and that what we add on top is kind of false it's a fake version and there is a reason for some suspicion and uncertainly about it it patently veers toward propaganda
much fairer when i grew up this was basically the media environment of my childhood as translated into food you had a monopoly supplier on the left you have rupert murdoch or the bbc
and on your right you have a dependent public which is pathetically grateful for anything you give it
user is actually involved this is actually what's called in the digital world user generated content although it's called agriculture in the world
this is actually called a mash up where you take content that someone else has produced and you do something new with it in the world of food we call it cooking
cornish pastie the pie the sandwich we invented the whole lot of them we're not very good at food in general italians do great food but it's not very portable generally
but so much communication now is contextual that the capacity for actually nudging
better information b j fogg at the university of stanford makes the point that actually the mobile phone is he 's invented the phrasepersuasive technologies he believes the mobile phone by being locationspecific contextual timely and immediate
is simply the greatest persuasive technology device ever invented now if we have all these tools at our disposal we simply have to ask the question and thaler and sunstein have of how we can use these more
you one example if you had a large red button of this kind on the wall of your home and every time you pressed it it saved fifty dollars for you put fifty dollars into your pension
you would save a lot more the reason is that the interface fundamentally determines the behavior okay now marketing has done a very very good job of creating opportunities for impulse buying yet we've never created the opportunity for impulse saving
if you did this more people would save more it's simply a question of changing the interface by which people make decisions
actually fundamental opportunities to change human behavior now i've got an example here from canada
how you could relaunch shreddies he came up with this
so shreddies is actually producing a new product which is something very exciting for them
you see that when you see the diamond
a
and
debate raged there were conservative elements in canada unsurprisingly who actually resented this intrusion so eventually the manufacturers actually arrived at a compromise which was the
if you think it's funny bear in mind there is an organization
except when you tell the people how expensive it is in which case they tend to enjoy the more expensive stuff more so drink your wine blind in the future
two quotations to more or less end with one of them is poetry is when you make new things familiar and familiar things new which isn't a bad definition of what
to help people appreciate what is unfamiliar but also to gain a greater appreciation and place a far higher value on those things which are already
so they actually reduce the need for actually spending great money on display and increase the kind of third party enjoyment you can get from the smallest simplest things in life which is magic the second one is the second g k chesterton quote of this session
which is we are perishing for want of wonder not for want of wonders which i think for anybody involved in technology is perfectly true and a final thing when you place a value on things like health love sex and other things
and learn to place a material value on what you've previously discounted for being merely intangible a thing not seen you realize you're much much wealthier than you ever imagined thank you very much
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