Hooking Users with Magic Moments by Dan Elitzer of IDEO CoLab

thanks for coming my name is Dan I'm with idea and this sessions a little bit different we don't have a prize that we're giving out here we're just talking about basically how do we get people excited about using applications to build on their so for those of you didn't catch a big ceremony yesterday just like super quick intro to idea and it's like what the hell we're doing here so I do is this design and innovation firm we've been around for about 40 years we have offices around the world we've got about seven other people and we were on a whole range of things we got our start back employees working with alcohol and other companies I do designed the original Apple Mouse as a consumer product is the Xerox PARC invention replacing my attack but the idea was like working on it revising and packaging other consumers and really all this is about human centered design right so instead of doing what work well a lot of us are coming here and doing today which is like okay what's what's the cool tech that I can use that I can relatively build some basic proving out technical feasibility what idea does our process is all around starting with these starting to be able what are the needs that we're solving is what I'm building actually desirable by the people that I'm trying to target I think that often in the space gets layered on later and we think that if you don't start in that place of saintly whom I saw before what is the problem I try to solve then whether it's technically feasible whether you can build a viable business around it it's kind of all beside the point you know makes me people love then you're not really gonna get anything so I do has also been working crypto working watch at projects since 2015 I joined up early to 15 I started my career working in microfinance I was doing an accounting finance operations fell down the crypto cool just as I was heading to grad school a mighty started at mighty Bitcoin Club was like basically done MBA in like Bitcoin incorrect it was like where I spent all my time and then came out and tried I do as this beauty of coal that was starting we spent a number of years working largely on my head corporate collaborative concept projects from blockchains but at the same time we were all like working this very cool early-stage startups on to been working on a few scenes with them finding ways to help them in various ways and then earlier this year last year we said okay we're gonna go deep or were to start developing programs that are not about helping corporations learn but actually really helping these startups literally excited about push things for how do we actually help them go mainstream we started investing so we do invest in seed in the series a stage startups in the crypto space but we also have a startup studio program which I'll mention peahens that is a way that we're touching many many more companies that are investing in our studio we actually probably have a percentage of the participating companies or ones that invest mostly other companies we're invited to come and participate for free because we just want to help with your system grow and so today we're gonna talk about you love us because I think that's one of the things that were frankly missing a lot so the reason I'm talking about magically today is a conversation I had with with this guy Austin Griffin and talking about his philosophy towards Bella so doesn't burn and projects but one of the principles that he goes by is thinking how do I get users to that magic moment that aha moment as quickly as humanly possible shall we take out all the friction all the steps get them to that one where they get it immediately so we're talking about just like animations magic making people upset so before we get into what a crypto magic moment looks like let's start with more traditional magic moments the one that I use most tension is basically they had this metric they realized early on but if they could get users to get to seven friends within ten days of signing up that was like the point where people kinda like tipped it over and they like dot right because if you're on Facebook and you don't even have seven friends then there was just nothing right there is no there's no reason to be there so it's not just you yeah you see well back in the day I wasn't even here but it used to be that whatever he's getting started yeah there's like even today right if you join me right now you just see shitty news articles so there's there's this kind of point at which people are like ah I can I get why somebody would want to use this product why it's valuable for me and so most successful coverage volume every cellphone actually has this in some form or fashion right there's a a tipping points for any magical experience early on that help users get it where the products or experience feels valuable to them feels delightful to them and that's what that keeps them coming back Thursday a fantastic book called booked which talks about kind of these cycles that you can get them that are reinforcing cycles and bring users back over and over but while I've really focus on here is just what is that initial tipping point to get people over the edge one place when we see this a lot I think it's going to turn almost into a science is in gaming so I put a lot of match of gathering and like in college and after college but recently as I've been diving more and more instead of these gonna block champion concepts it was like oh well hearthstone is the one that everyone talks about these things relate to I should try it out and so I you know download the client massive two gigabyte install but the experience that out there was like oh this is something that we're just not seeing in terms of like how optimized they've gotten the whole experience so one of the first things of that was to you if you sign up on stone is they give you something for free right they're like hey before you get started here's a gift so you get to like open up this pack of cards you get like free cards new cards it's an amazing experience and then they take you through a game where they're handling you at the end they do it right you you've been shown you can do this hey you want great like I guess maybe a theory there's one way that you can lose but they like set you up to win so that you have that great positive first experience and then oh wow you want and here's a reward as well so getting getting users to really feel reinforced and I can do this this is exciting I can win things this is something that really helps hook you and then they've got this whole quality like keeps you coming back for more but this is an example of how you can get those users and hang on to them so what does this look like if we start translating things into the crypto world what is a magic Dominic Krypton today there's really really not something so yeah this is joke but like if you think about where we're at with anything in this ecosystem versus where traditional companies are we're an order or magnitude or multiple orders of magnitude behind in terms the number of users I think that there's a lot of reasons for this it's not like you know we should be at PayPal levels and chrome levels look at what applications are available today but we've got a long ways to go right so there if there were a lot of really divine experiences I think we wouldn't be as far behind as bokhari they are if you look at an adapter Adar look at the top two apps on it varium you can be in the top 10 apps with 500 daily active users right that's nothing and yes I understand that you like if you like that defy apps of the planets house daily actives is not the right metric to be judging by right it we should be looking for it at things like deposits essentially assets there are locked at the contracts there's different ways to look at metrics but I think by any reasonable measure we've got a long way to go but really I think there are actually some measurements so one of the way is that I look at creating those measurements back you know circa 2013 2014 you know on campus trying to evangelize to other people one of the things that I used was saying just giving people like a dollar in Bitcoin right the time like these were very low it was like pretty easy to do and I would always to get to that magic no but I would say we look at people the point you know everyone's using PayPal you student some camp students Benbow right so the idea of being able to send a fast a4e transaction like that's not that exciting that's not gonna it's gonna hug people so what I always simply say like okay look take out your phone and I would say I'm gonna name like three different wallets I recommend him to halt them just choose one and they would go on there to choose one they would they would install on the phone say okay long I'm gonna pick a different one and then I would send them the Bitcoin from that one and so for people that would often trigger them as like oh wow so this is like I've been able to send across different applications I've just download a free application giving different pre-application and they can interoperate there there's also an actually didn't install or have this slide but there's a wallet now that's or theorem called origins I think that they do a great job the CEO gives a pretty magical moment ways demoing it it's a smart contract wallet that has the ability to book in the contract on chain daily spending notes and those looks to be overridden and stuff but it gives use times like essentially if you're gonna go over that limit residents actually can do it for them there's a period in which you can reverse it so we'll do this thing well like you're like okay give me your wallet it'll be like okay I'm sending you see on scripts of you $75,000 worth of you is like ah but that's okay my daily spending limit so when I leave here I've got 24 hours and they go cancel it you're not paying us the most but it kind of shows the power of what they're doing right the the safety that's how it gets you there so this idea of being able to like show what's what's powerful what's different about your product that can create this kind of magic aha moment for users thinking about your original kind of UX fusing maker how many of you who have like open to CDV a few how many of you like today back when like this was the flow yeah hates it dude it was like it was like 40 steps go up 2-0 it was like 40 so we like we counted this this like not having you doing anything right it was like 40 steps is insane even but even like usually they were like stuttery differently transaction you to submit separately on cheating it was nuts and you know thankfully that is that is different today the first ones to do this really well I don't it's too that they really got this down to like a one or two quick process is they just wrapped all those steps all the different permissions you needed to set onto a single transaction and you broadcast and send that soon so that like lets you that's much faster they've recently rolled out a feature that I think is really cool where it's you know it's just their interface to letting you deposit into compound and earn interest on your die but they've like how did this little like a streaming ticker thing which I find incredibly cool incredibly compelling right it's that you can see like constantly this is all loops it goes drop like after few seconds but just this constantly show users like hey you've deposited you are instantly earning interest right if you go to like the compound interface and you deposit the compound there it's like cool you've got this bunch of deposit you're earning this interest rate currently you like come back to make a car later it's still saying come back a day later costilla's saying let's put a lot of money in there right but just by going extra decimal places showing it's streaming it's like ha I get it it's exciting right and you can see that it's like constantly happening you're constantly reading obviously it's about traffic is also actually a block by block basis but this is something that like can I help you get there and like realize like wow this is really cool right you don't earn interest like the feeling of like a parting interest in your save discount if you actually the savings account that pays you interest it's nothing like this you don't feel like you're earning in real time right so this this really shows like this is the speed at which this whole system looks it's another example of kind of quick onboarding as I mentioned beginning on Austin Griffin and burner watt burner has created this batch of experience where it's like hesitant to use for every wall yes yeah people okay so Austin likes facilities like burrow wall like feet up so the best where they will set these QR codes out there and everyone's it's like probably gotten food here right where you scan the squirrel and can done that there's a few steps right you've gotta you've got like enter your email gotta enter your name gonna create a password twice verify email all these tests like great I think like spur that's also like working on like building as other stuff is that's that's understandable legitimate but what burner wall you live it with scanning QR code and then in your browser opens up you've got a lot there and what they're doing a Benson stuff they'll be like will be money already preset in the wall that gets to to this this magical experience is like wow I just can t QR code and I'm already able to translate like holy and like I think that's that's cool for anybody right because even if you don't if you're not like thinking in the criminal charge before we're used to going through so much pain it's still pretty cool just to scan a QR code and now you've got like essentially an application loaded with money right yep even like had to like okay and now like I'm gonna go to the office kick me over the app store got like swipe that phone face ID and like it's gonna take people and it's still like install this just like gets you to that moment instantly and that's that's the level that I think we should be aspiring to is like obviously if some things we're doing a more complicated but the sooner you get people it's been instantly shin I can actually do something with this this would be really cool the better so there's there's number of tools or this these ones like branded with top of my head Universal logins the idea of using whatever kind of meta transactions is well maybe this be able to like a wait for confirmations on chain they're having the deployment contracts on chain immediately the crate to Washington freakin amazing you can start creating his experiences for users in your application if you're not you know building a wallet you just have a some kind of data you can use some of these api's and start creating that better experience views if they'll to go and go through all the steps because honestly if we're all fighting over the you know tens of thousands maybe hundreds thousand most like a few million like users like we're getting donor right we need to drastically expand the market of users who are interacting with their applications if this is going to be meaningful at Olive Oyl and so I highly encourage people to use tools like this you about one of these tools to start making your applications get users even be possible to get that magic going sooner then that last on the bridge that's that's until they've got like api's and real developer tools the other ones have got more of a user facing component to it it's the important thing here is like magic moments also if you develop developers they can be for any type of user right developers are users too so you can create magic moments eat up your not rating for end users your bullet or calipers you should still seek to create that magic moment so one one example I think does this really well is is you I know some folks started working something very similar to sprite there in which I'm super psyched about but near few goats like they're their developer they've got this near studio so it's it's a you know web-based IDE right and that's something that like if their name has by far the most advanced willing in the space there's no other chain that comes close to it but what I saw that everything was like wow okay you've actually got the brothers ready I don't have to go through all the steps off to be like installing I'm really getting my note up running on to worry about like truffle and all the stuff I could just start doing this in the browser and you defiantly like game-changer for me that that was like that was magical to see that and I think I know that sometimes wearing this for a theory of minimus and the other change is starting to like be like oh we should do something like this - we can create magic even if it's not for end-users we can we can get there so at this point I just want to say like that is the the presentation and what I want to do is like that open this up like let's make it a conversation what are some examples that you see encrypt or otherwise but my dealing crypto thank you really this gave you that like aha moment that like sounds like oh oh like this is really cool no one's gonna change I mean definitely early interest in real time you already said it yeah like real time Beatrice Brantley wow that's cool [Music] it's so good that when you show it to mainstream people they're like oh this is just a scam exactly right this is a scam but they just don't believe they yeah yeah yeah another one that's kind of like that is these people together right I've met people of c-cool together so it's a it's a think of no lost lottery on ethereum so what they do is actually if there's a contract that basically just deposit died they put all the dye into compounds and then like a week later everybody you can take out your money and ever you can take it through ever to lay out but one person gets pay it out all the interest that's the nerve in that period that's all I think works like I think the the actual flow right now doesn't get users to that magic though or what fast enough but like the concept is pretty magical right like I can I can play the lottery but I like don't lose it I buy a ticket but then I get the ticket money back at the enemies like that's that's pretty cool but they also that problem of like it feels like a scam is like how can I win and it didn't cost me anything yeah extreme salaries Fanta I'm sorry I'm repeating everything is like they're recording someone I think we should cover video but yeah streaming salary is a great example extremely extremely interest right the fact that it can be kind of this real-time system and it's not that like you know you couldn't even Theory like PayPal couldn't offer you like streaming real-time payments but they don't right they're just they're not in that mindset there's no big reason to to get around all that product I think when we're doing those things that are crafted native-like that we can create this experience that's the beauty of having these open financial protocols is that we can start building things that previously you would have had to have like millions of dollars and spent years getting all like licenses look you need to go and build these tools and now it's like hey great let's just download it and build it like yourself feel free go go for it but also think about how it's one of the the kind of challenges right is still that we've got so many steps so much friction often to get people to that point where we can show them how cool is is we need to find ways to create shortcuts around that experience so so one thing that I didn't talk on presentation today that was progressive on Authority right I do think that it's important that people hopefully understand if the system is different has different risks and different dynamics you don't want to completely abstract that away and like the fact there's there's a he is the stuff behind it like I don't want to stand up in a world where we're just like all using custodians again but I think custodians or using things like universal logins using minute transactions you can create essentially a because experience at the beginning where it can be handed off to the user once you've kind of done the pepper like there's something up to how you and they get it you can past it but I think that's that's something that I want to start seeing a lot more of is people saying like oh how to be ease people onto the path we know where we want them to be and like ultimately if they get that understanding right like you don't have setting up a service their own internet it was like set than email like more abstract and then like well actually print out your email and mail it to you in the mail right like that's that's not the right thing you need to people used to the new paradigm it's like actually gets the power of it but we can find ways to make it easier to help people who are no longer yeah gasps really where here yes gas station Network the great example right that that's that's a way that you can do it so for those of you who haven't seen this yet just google gas station Network if there's a open Zeppelin I think has a nice kind of SDK around this really is used so you can participate in this network that basically lets applications hey gasps on behalf of their users so you can do that you can set parameters around it as well so you don't like end up having somebody like drinking a whole year of your accounts but yeah it's it's you can remove some of that friction for users early on I know Argent's is I don't know if they're actually using GSM like there the pain gas on cap and users put a wallet for now at least and I think that's absolutely that so that's a way that you can make it feel magical not get people to friction because especially maybe of like if you have people interacting with die or with other tokens other than if you give them a ticket and then it's like if you can't they just make it you need some you think of that that's that kind of is the anti magical moment so we want to avoid that of alchemists all right so we are at time and I'm going to be around I'm so mad okay yeah anyway there's there's me there's a new collab on Twitter and then just quick chill and we have this startup studio we're supporting startups early-stage startups in the space come check out our studio website spend application form of our events we also have a makeup on that we're taking applications for people our custom flexibility will be the exact date with the deadline for the application it is September 15 if you invite to think about it you could then be invited from there to participate in a page fellowship opportunity to come spend a few weeks working with idea collab working on 50 related projects and then also like I forgot sales yesterday we also invest so we typically do checks between 250 and $5,000 in 2 C 3 C some time series a ish I'm gonna define the term startups so come find me we've got a table on the back the room I will be around until the end of the stuff tomorrow looks like you