Metaverse Management 101

Embark on a journey through the virtual corridors of the metaverse, we'll unveil its mystifying layers and practical uses for today's executives. As the digital and real worlds converge, we pinpoint valuable insights for utilizing this innovative space for training, collaboration, and policy shaping.

Brace yourself for a trek into the possibilities and caveats of avatar-based interactions that could redefine the future of corporate connectivity and culture.

In this episode, we discuss the following:
1. Understanding emerging technologies.
2. Setting rules and boundaries regarding new technologies.
3. Approaching new technologies with curiosity and a willingness to learn.

This episode is sponsored by LucidPoint
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CONNECT WITH SUSIE:
https://www.linkedin.com/in/susietomenchok/

CONNECT WITH JAMES:
https://www.linkedin.com/in/capps/

Transcript

Speaker 1: 0:15

Welcome to the Quick Take podcast, the show where you get targeted advice and coaching for executives by executives. I'm Suzy Tominczuk.

Speaker 2: 0:24

I'm James Capps. Give us 15 minutes and we'll give you three secrets to address the complex topic of issues that are challenging executives like you today.

Speaker 1: 0:35

Welcome to Quick Take. I'm your host, suzy, along with my amazing co-host, james. How are you, james?

Speaker 2: 0:41

I'm fantastic. How are you today, Suzy?

Speaker 1: 0:43

I am awesome, so you often as you know, many people don't know this you are my tech guru. Whenever I have a technology question or I don't know something, you're a safe space for me. So I'm going to use this platform to ask kind of a question. I'm starting to hear a lot about the metaverse. Am I even saying that, right, the metaverse? And I immediately think, oh, when I hear about it, it sounds confusing, I don't really understand it. That's the thing I think about. Is that's not going to affect me in the role that I play, and so I just wanted to bring that to you because I don't really understand it and I don't have a vision for what it means, and maybe you do.

Speaker 2: 1:27

Yeah, I think that's a great question. And before our listeners like, turn this off because they're in the same boat you are, which is this is not real. I don't need to worry about that. This is right up there with a keeping track of what version of iPhone you have, because who can do that anymore? I mean, it's all the same thing.

Speaker 1: 1:44

Thank you, thank you.

Speaker 2: 1:49

But the reality is is the metaverse, which is both a generic term, and then there's the meta Facebook company, who has invested millions of dollars, billions of dollars, to promote that technology concept. It is real and I think, while we are in a space where it's a very niche situation, I think as leaders and executives, we have to think about this, like many things that impact our employees and our customers, that there are risks associated with it and, like anything else, an ounce of prevention is worth a pound of something. I don't know what that pound of butter?

Speaker 1: 2:33

I don't know.

Speaker 2: 2:36

But yeah, I mean, this is an area that I guarantee you. There are some of your employees that have seen this, used it, and I suspect that the potential for risk for you and your team and your company is probably underestimated.

Speaker 1: 2:50

Well, how are people using it now?

Speaker 2: 2:53

That's a great question, I think you know. Obviously there's a you can pick up any technology magazine and there's all sorts of really quirky nuanced things and maybe some edge cases. But I think you know some of the most applicable ideas are training. You know how do we get people in a space and show them the products that they would be seeing. You know, give them a virtual experience of, hey, this is what it looks like to be using this product. Hey, this is how this product looks in the field. And then collaboration. Obviously, you know when, you, when, when we've kind of gone really far on the zoom collaboration and we've seen the limitations of that but when there's a virtual element to it and you are immersed in that experience with somebody else, your collaboration can be a lot different. And so those things are happening now.

Speaker 1: 3:43

All right, let's talk about what that looks like. That means what you're saying is that you and I, instead of looking at each other through our cameras on zoom, we would literally be looking. It would appear like we were right next to each other.

Speaker 2: 4:00

Could be right. So in my, you know, I might put on my, my, my Google goggles or my, my Meta goggles or whatever the names are these days and the there's a number of VR products out there. Some are from those big names, some are just high end technology products, and you would wear those and but I would, from this use case, I would look to my right and appear, you would be, appeared to be sitting next to me and so I could just really know over and say, hey, where is that file, or did you mail me that thing? Versus setting up a zoom and making the phone call. So it really creates an environment that's just more collaborative and more casual. You know, I've seen and worked with companies where we had a zoom, if you will, a video screen up all the time to another office so you could see people walk by, and it's very similar experience to create that, that connection. No-transcript, this is happening and it's real, but I also think that it's worth discussing because I think leadership should be aware of the potential issues.

Speaker 1: 4:58

And so are we in my house, or do you decide where to go?

Speaker 2: 5:04

Conveniently, we could be in a virtual office that looks like the New York headquarters, or could we be in a grass hut on the Tahiti headquarters and it really wouldn't make any difference. So the experience would be whatever the company decides. But I think that's a great segue into the first thing I recommend people think about is you've got to set down the rules, you've got to state what is right, and no different than having a set of guidelines for the use of Twitter or any sort of online communication. I think it's important that that companies consider the metaverse experience and establishing what is appropriate and what it's not. Right now, there's nothing that keeps me from having my avatar, look like the president of any company in America and wearing the logo of that company and walking around pretending I'm that guy. So you've got to tell your employees look that certain behaviors are not appropriate and so documenting that. Setting it up on a front bans is huge.

Speaker 1: 6:10

Well then, if you don't know that much about it, how do you know what boundaries to put on it? To say you, your avatar can only look like you. You can only say your name is James.

Speaker 2: 6:21

You can only, I think it's important that you reach out to people who are involved in this and understand it and establish it Like. This is kind of a situation where you've got to have the guardrails, but you also. I appreciate that not every person is involved in this. I don't use TikTok, but I certainly need to be aware of its capabilities and have people around me that do so. I can set the rules and the guidelines for my employees despite the fact that I don't see I'm not on TikTok as much as other people, so it's kind of a cost to do in business. We need to. If you're going to set down the law, you need to really start to understand it.

Speaker 1: 7:05

Well, I guess, from an executive coach perspective, I would say you can also say that we haven't quite figured out exactly how we're going to use this, but for now, these are some of the things that are our expectations. You can frame it that way, you? Wow, that's so interesting to think about. And do you have, do you have, another tip?

Speaker 2: 8:24

Well, I think the most important one is you really have to understand that there are, you have to enforce this code, right? It's silly to say you know you can't do this and then really have no way of monitoring it. Now that's challenging right? That doesn't. Your compliance team isn't going to go run out and get the you know the new metagogicals and start wandering around and seeing what's going on. But you do have to assume that it's happening and if you do get wind of it through the press or through other people you're doing, you've got to know that. You've got to have rules around that. And there are, there are ramifications that you know whether it's moderation tools to keep that happening or there is, you know, some sort of rules and ramifications of not meeting that you know the company really needs to be prepared for, for the worst.

Speaker 1: 9:15

Wow, this is really incredible. Are there any resources that you would suggest for people to kind of get their toes?

Speaker 2: 9:22

Yeah, actually that's a great question. There's a handful of companies and I think Metta is doing a decent job and I know that there's a couple independent companies like that that are putting together some of those frameworks for for the guardrails. We'll put some of those links to that in our show notes. But I think you know, like many things you know, it's it's horrible to start with a blinking cursor where you're like, you know, metaverse and us. That's really challenging as a company to to figure that out. But to take something and maybe build on it and say, hey, you know, this applies to our team, applies to our people, applies to this office and not that office. You know these, these, these links will give you some insights as to where to start.

Speaker 1: 10:04

Oh, it'll be so interesting to listen back on this episode when we better understand it. We're going to sound like this is so basic.

Speaker 2: 10:13

What's that Keddie Currick video where she? What was that in the late 90s where she was like what is the internet?

Speaker 1: 10:20

You have an address. It's a worldwide web. It starts with worldwide web. Where is that? That's exactly what we're talking about here.

Speaker 2: 10:27

That's exactly what we're talking about.

Speaker 1: 10:29

Like people shouldn't feel in in in hypnotate or intimidated by it. Go in it with curiosity. Now's the time, and these are great things to to keep in mind. So bring it back around for us, give us the three tips again. Yeah.

Speaker 2: 10:45

I think the first thing that we need to remember is you know that, that, that the company needs to set the rules and set the boundaries for what is what, what is is acceptable. And then you've got to reach out it and I love the way you put that, you know, go into it with a level of curiosity. Bring, bring an expert in, bring in a consultant that could just give your board or give your leadership team just a primer on what this really is and what it looks like. Get an example, get a demo. The opportunity here is huge, but you've got to go out and kind of understand it. And then, third, you know if you're going to set the boundaries, you've got to set the set the consequences, and I think you really need to give that some thought, apply it similarly to the work you do, or maybe about the you know people's social media rules. But I think indicating that it's important and indicating that there's consequences, I think is is critical.

Speaker 1: 11:35

Wow, I love that we're on the cutting edge, at least for me, frank. I wouldn't have even known to ask until I started hearing about it. So thanks so much, james.

Speaker 2: 11:45

You bet. Hey Susie, I've been wondering where is the strangest place that you have misplaced your keys per cell phone.

Speaker 1: 11:57

Misplaced my keys. Oh, I put my phone on the back of my car, like on the bumper, accidentally and then drove all the way about 35 miles to Parker, so on highways, side roads, and Got there and it was on the bumper.

Speaker 2: 12:21

Wow, that is very lucky. I can relate to that. I went to lunch with my sister two days ago and I have a pickup truck and she was walking on the other side of the truck as we were going to after lunch and we were back in the parking lot and I looked in the bed of my truck and my iPad was there.

Speaker 1: 12:39

Oh, I have no idea how long.

Speaker 2: 12:41

I've been there. Yeah, how weird, I mean, and I live in the mountains and we'd had snow, it was muddy, wow, but a frokon apple it's still working. Go go go Nice.

Speaker 1: 12:54

Thanks for listening to this week's episode of Quick Take, where we talk about the questions that are on the mind of executives everywhere. Connect with us and share what's on your mind.

Speaker 2: 13:04

You can find us on LinkedIn, youtube or whatever nerdy place on the internet. You find your podcasts. Our links to the show are in the show notes.

Speaker 1: 13:12

We appreciate you.