The Chris Voss Show - The Chris Voss Show Podcast – Nicole Reznic Discusses the Integration of Web3 in CRM and Luxury Marketing

Starting point is 00:00:00 You wanted the best. You've got the best podcast. The hottest podcast in the world. The Chris Voss Show. The preeminent podcast with guests so smart you may experience serious brain bleed. The CEOs, authors, thought leaders, visionaries, and motivators. Get ready. Get ready. Strap yourself in. Keep your hands, arms, and legs inside the vehicle at all times because you're about to go on a monster education roller coaster with your brain. Now, here's your host, Chris Voss. Hi, folks. It's Voss here from thechrisvossshow.com. There you go, ladies and gentlemen. The the iron lady sings that that makes it official. Welcome to the show, my family and friends.

Starting point is 00:00:46 We certainly appreciate it. As always, we bring you the most amazing minds, the cutting-edge stuff that's going on, the CEOs, the billionaires. In fact, we have another billionaire, I believe, we're scheduling this morning to come on the show to talk about tech. So stay tuned for that. And a lot of other great authors, Pulitzer Prize winners, White House presidents, Pfizer, astronauts, you name it. We have the smartest people on this darn show, and I'm the only dumb one. That's because I own the mic, so I get to rule with my stupidity. But that's why we have smart guests on the show like we have today. Today, we are joined by Nicole Resnick. She is an impact CRM and CX in the

Starting point is 00:01:22 luxury industry. She's also a woman in Web3. And we're going to be talking about some of her experience, what she does, and how she does it. She has over a decade of experience spanning the luxury market, digital transformation, and CRM leadership. She's cultivated a diverse skill set that seamlessly blends technical expertise with strategic vision. Her journey began in the luxury sector, where she honed her marketing prowess at prestigious institutions like Tiffany & Company and Christie's Auction House, mastering the art of customer engagement and brand management as one of her core skill sets.

Starting point is 00:01:59 Her passion for innovation led her to explore the digital landscape, where she spearheaded digital migration projects, optimized agency relationships, and architectured customer-centric data models and renowned brands like Upfield and Epsilon and Acceleration. And her leadership roles in digital project management and data analytics equipped her with a keen understanding of digital technologies. Welcome to the show, Nicole. How are you? That's mouthful, isn't it? I'm doing well. How are you? I'm doing excellent. Give us your dot coms. Where do you want people to find you on the interwebs? I think the easiest one would just be LinkedIn. So it would be if you look me up, you could follow me at Nresnik, N-R-E-Z-N-I-C on LinkedIn. And I'm actually building a company right now. So I can give away that information maybe toward the end. There you go. So give us a 30,000 overview

Starting point is 00:02:57 of what you do and what your company will do, et cetera, et cetera. So what I do is because I've been in the industry and I said a decade, let's try more like two decades and a half. Wow. Yeah, yeah. I'm a bit long in the tooth. So for me, I've been working in a very strong background, data, CRM, customer experience. As a matter of fact, right now, I'm currently teaching here in Paris. I also, yeah, at a university, it's here in Paris. It's a great program for undergraduate and graduate students. So I'm teaching not just CRM basics, but I'm also teaching the fundamentals of how it's changing and evolving.

Starting point is 00:03:39 Most of the young students in my class are of a new generation. And this is a generation that's very deep into technology, something that I think most universities are starting to forget when they teach a lot of the fundamentals of marketing at this point. And I know everyone's got their eyes on AI, which is a fantastic thing to keep your eye on. But I think that the reason I'm giving you my background is specifically because this is sort of where the idea for my company was born. The way that we work, the way that we live, it's all increasingly digital. And because what I teach is that customer relationship management, how to kind of bring customers and brands together. I think that the way that we interact with our customers sort of has to evolve as well. And because when you look for your customers, they're in another place. They're no longer, you know, just shopping around in shopping malls.

Starting point is 00:04:35 They're actually online. And this is not just here in the U.S., but globally. And based out of France myself, I am an American, in case you haven't heard, I don't have that very strong French accent. And as an American, I think we've always kind of been more partial toward digitizing. Europeans, I would say, they've been more skeptical about it. They have a more conservative approach. And so one of the things I think is interesting is being an American and loving tech. It's something that I've kind of translated into here in Europe, how it's very important to kind of bring that technological slant.

Starting point is 00:05:14 And so with the students that I teach, I'm showing them the evolution of CRM. And the company that I'm trying to build is using the evolution of technology, which is actually fundamentally based in community, decentralization, all of these concepts that I think a lot of people may be feeling a little bit awkward about because they're somewhat new to many people. But really what they're trying to do is they're trying to create a more cohesive way of people to interact online. I know it's really lonely and you tend to separate into your own little worlds of shopping online, you do your own thing. But what I'm trying to build here is actually something more communal, like a communal effort. And it's based in blockchain, which I can get into later,

Starting point is 00:05:56 but it allows for that sort of transparency, trust, interconnection. So it's a really interesting project. There you go. So how do you see the role of CRM evolving in the age of digital transformation and Web3 technologies? Sure. So CRM, you have to go where your customers are. In the olden days, you used to have a lot of people on the streets, you know, and they used to give out flyers and you have all of these advertisements of people on the streets, like, come see, you know, John's pizza. So this is how we used to kind of interact with our customers. We go where they are. And then we started building malls. And in these malls, we started, you know, kind of attracting them with different ways, coupons and all of that. But what's really

Starting point is 00:06:41 fascinating now is if you look at it, the newer generations, you know, your Gen X, your Gen Alpha, who are about 10 years and younger, these newer generations are increasingly online. So you're not going to find them in the same places. And the reason this is important is because you also have to speak to them in a way that they understand. Everything is increasingly online and digital, and even assets are becoming far more digital than before. For example, if you have your Netflix, how many of you still watch your old VHS or DVDs? I don't think anybody does anymore. Exactly. If they even do anymore. So that's one of those things that you have to kind of keep in mind. And CRM has to evolve with the way that people are living. And that's something that I've been looking into for the past three years. There you go.

Starting point is 00:07:32 Yeah. And so what's the big vision of the Web 3? Help people understand what Web 3 is, what makes it different than Web 2.0. So we lay a foundation there. Yeah. So for those who don't know it, and it's funny because when you start to become, you know, you delve into something, you start to feel like you're in an echo chamber. So everyone who knows Web3 knows what it is and you have to redefine it for a lay person like

Starting point is 00:07:55 my father-in-law, who's, what is this Web3 thing? So if I were to explain it to my father-in-law, I would say, I think one of the easiest ways is read, write, own. So if you break it down into the first way, web one was about being able to read something on a webpage. It is a digital interface that allows you to read information. So if you can remember, for those of you out there who are old enough, I know I am, AOL. You used to be able to read things. You used to have those old webpages like Angel Fire. You could see something. Like, for example, if you're buying Domino's pizza,

Starting point is 00:08:33 you could see their menu, but you couldn't interact with it. So all you could do is read it. So Web2, if we break it down in these terminologies, Web2 would be where you can read and write. So if you're, again, Pizza Hut or Domino's and you go onto their webpage, you can see their menu, but you can also be able to see

Starting point is 00:08:53 and add your address if you want to buy it. And you can actually purchase it online. So that's read and write. But with Web 3, what's interesting is there's a new way of kind of working right now. And crypto, as much as I'm scared to say the word because a lot of people are so frightened of it, the skepticism really is more for the things that happen around it. But the underlying technology allows people to have a decentralized way of kind of building things, right? Decentralized in a

Starting point is 00:09:28 different way, Facebook or Google, when you're in Web 2, they own your data, you put in your information, and they can actually sell it to ad makers and other people. So that data that you put in there is not yours. It's owned by the, let's say the website owners where you've put it in. So if that's Pizza Hut, well then Pizza Hut has your data. Now in a Web3 solution, which is starting to evolve, you have these decentralized ways in which the data that you own is not owned by anyone else. It is literally out there. It is open and transparent, not your personal information because you don't and transparent, not your personal information, because you don't even have to use your personal information. What I like to say is the equivalent

Starting point is 00:10:10 from your email address in the Web2 world is now your wallet. And a wallet is an encrypted set of codes that should be yours. And the only complication I find right now with Web3 is that people would have to create a wallet and creating that still is somewhat cumbersome for some people if you don't have a technical background. However, there are many companies out there who understand this and are starting to build solutions that are built in straight into the Web2 webpage. So all you have to do is connect with Google or Facebook or even just an email address and you have a wallet that's discreetly hidden underneath. Now, why is that interesting? Because the data that you put in, say your demographics, you don't even need that. We don't kind of work

Starting point is 00:10:58 in demographics and marketing anymore. For example, if you were to say a 56-year-old man in the UK and a 56-year-old man in Nigeria, they may not have the same background despite having the same demographics, right? Yeah. And even within the UK, I mean, you have Ozzy Osbourne and King Charles. They have similar demographics, but I doubt they have similar behaviors, right? Yeah. So what is interesting in Web3 is you're not looking at demographics anymore. You're now looking at behaviors. And that is the way we've started to market. So because behavior has become more interesting to us, I mean, I could buy something at my age, or I could be a 12-year-old buying something, the same thing.

Starting point is 00:11:43 Say it's Hello Kitty. Say it's, you know, I mean, these are things that don't require age, they don't require gender. So I think that that sort of liberation from the idea of what is your demographics, what's your age, what's your income range, what is your location, these aren't important anymore. And the Web3 world with this decentralization, where you can choose to, you know, pay for anything with one wallet or another wallet, or you could choose not to include your name or your phone number, but your wallet, your identity. And that's one of the things that makes it really interesting. And so when I say read, write, own, that also means you own your data.

Starting point is 00:12:27 That is yours. And you should be able to leverage that in the future. We're building that, right? There you go. And I like that, owning my own data, as opposed to everyone's making all this money. Mark Zuckerberg's running around, having a good old time.

Starting point is 00:12:42 He's doing really well with your data. Yeah, he's doing really well with my data. And I'm not even sure, you know, if I trust him with my data. It's kind of funny. Elon Musk is working on a bank, I guess, for some sort of payment transaction with Twitter. And he barely runs Twitter. I'm not sure I trust him to do anything else.

Starting point is 00:13:00 Give me a break. And he seems to be a little unstable. So can you share some examples of how you've leveraged data analytics to enhance customer experiences in your previous roles? So when we say data, and I hate the word when I talk to a layperson because they usually just look at me with that blank stare. Data is just information. Let's just call it often information. So it could be my name. It could be the mortgage payment I make. It could be where I last bought something. It could be the price of, you know, a pair of shoes I bought. It's just information. And it depends where in the sort of journey of that product or buying that product I am, it depends what kind of information you need, right? So if I am looking to create a sort of loyalty program, you know, buy five coffees,

Starting point is 00:13:50 get the six one free, I don't really need your name. But I do need to know how many coffees you bought, I need to know what store maybe you've bought it in. So I can give you the same coffee at the same store, what type of coffee you drink. So there are different sort of details or data required for different things. With data, the way that we leverage it the best is behavioral data, like I've mentioned before. And I don't need to know your name as much as I need to know, hey, you're a coffee drinker. You buy every single day. I drink every single day. You buy it at eight in the morning.

Starting point is 00:14:26 And guess what? You often buy a muffin or something to go with it. And if I were smart and I were a company, I would like to figure out the best way to get you to buy not just a muffin, but maybe something else with it, right? Or maybe to bring you in at lunchtime. So how can I do that? And so some of the information I've leveraged in

Starting point is 00:14:45 companies, because I've worked in some, let's say, very, very big companies, I consulted an agencies where we were leveraging a lot of this, I'm going to say an automotive company, which is very large, we actually leverage data that was coming into their cars, because their online car system provides us with data of where they drive. I mean, it's not so people don't get scared. It's not specific data per person. We can't dig in specifically. But what we can tell is that if a person lives in, you know, Michigan and they're going from one place to the next point A to point B.

Starting point is 00:15:22 What we can say is they frequent point A to point B almost daily. And we know that we have a location of people whom we work with, the brand maybe, say Joe's Coffee Shop. And we say, hey, we know that you're traveling from here to here every day. And we'll give you a coupon to Joe's coffee shop. We literally can personalize emails, SMSs, or even, you know, anything regarding that sort of trajectory to say, Hey,

Starting point is 00:15:51 we know that the weather is changing in your area. And so what we can do is we can say, Hey, check out our snow tires. It's going to snow and it's going to be real ugly. So, you know, you may want to check out the snow tires.

Starting point is 00:16:06 So that's one thing that we can do. And that's how we've partnered some automotive companies with different sort of programs that allow people to have more hyper personalized emails and SMSs. And usually an industry rate for opening an email, we're going to say around 16 to 18%. Not a lot of people want to open their email these days. Oh, yeah. But if you say, hey, John, go check out, here's a Joe's Coffee coupon for $5. Ironically, he knows Joe's. He's always passing it on his way to work.

Starting point is 00:16:40 He's going to open that. And we went up in our open rate, the percentage of people that opened were high, about 68%. Oh, wow. Yeah. Why? Because it becomes relevant when it's something that you understand, something that's specific to you. And that's what we call personalization. And with data, we can make personalized offers to people. This is the same thing that Netflix does when they say, if you like this, you'll like this movie. That's right. They have those feeds that come to you and you're like, how did they know that I liked action movies or something? And guess who's running all that in the background?

Starting point is 00:17:18 AI. There you go. And it's probably going to get more and more drilled down and more and more detail on all of your stuff so it's not always a bad thing if a company knows how to leverage it right because sometimes you would have to search far and wide for the same thing when it's wow i do need that yeah i'm a mom and i know for a fact there are a million things i need for a kid and then i'm on amazon and i'm buying something so you may like this book. I'm like,

Starting point is 00:17:45 Ooh, I didn't know about that one. That's a good one. Yeah. Yeah. I have that happen all the time on Amazon where I'll see something and it's like, it's,

Starting point is 00:17:54 and sometimes, you know, you're buying one thing and they'll show you a better product. You're like, this has got better reviews and, and yeah, this fits more with what I need. Yeah.

Starting point is 00:18:08 Yeah. And same thing with, you know, all the different online providers and like you said netflix and stuff you know they show you movies you're like hey i might be interested in that and then and then sometimes you have stuff like on facebook i don't know what their walmart thing is doing lately but they have some crazy stuff on walmart and i think they do it as a bait and switch they're like putting up crazy crazy stuff and that you're just like, what the hell is that? And it's like bait switching stuff. But with the rise of decentralized technologies, blockchain, how does blockchain fit into what we've been talking about so far? Well, it's a great question. So blockchain to make it very, very simple. I use the analogy of having a receipt. You know, you get a receipt from a store. With blockchain, it's like me ripping up the receipt into many little pieces, say 100 pieces.

Starting point is 00:18:52 And I give a piece of that receipt to 100 different people in 100 different locations. So what's interesting with blockchain is the security behind it. There is a way. So if I were to say to someone, okay, I give you my receipt from the store. And I say, Chris, can you tell me how much I paid? And someone asked you, hey, Chris, how much did Nicole pay for those shoes? And you say, well, she bought them for 50 bucks. But if I were to take that receipt and give it to those 100 people, the ironic part is in blockchain, the security is so tight that I wouldn't even be able to ask 100 people who knows where they are. I would have to actually ask them in an encoded question. So it's actually even more

Starting point is 00:19:31 safe and secure. So your data is actually stored in a way that you would have to ask each of those 100 people a question that I would give you the answer to. So now it's not just split, but it's also split and secured. And so you would have to get a piece here, a piece there, a piece there, and you'd have to then yourself piece it together how much I paid if you had a letter here and a number there. So I'm not going to say it's impenetrable, but it's definitely, definitely far harder. And looking at blockchain, it's really just a database with a very high security. Just the same concept of splitting things into many pieces and putting codes behind them so that the people can't get to those elements very easily. Oh, wow.

Starting point is 00:20:17 There you go. So it kind of protects your Web3 data where you have more control of it then? Yes. Would that be a good assessment? All right. Here we go. It's like a master class we're doing right now on i feel like i'm in college or get us i'm gonna i'm learning more about web three than i've learned before and you're you're packaging it so it all makes sense what are some key considerations for brands that are looking to integrate Web3 principles into their consumer experience strategies?

Starting point is 00:20:50 So, okay. I do consulting too. And I have some customers who are like, okay, you know, when everything was going crazy and everyone with the NFTs and the, okay. Everyone wanted to be a part of it because it sounded cool and it was interesting. But the truth is not every single company needs to have a Web3 presence. So Web3 is for people. And I like to repeat this. For people who have a customer base that is highly digital,

Starting point is 00:21:17 they must have some sort of understanding of how the tools work to some extent, both within the organization and the customer base. So there has to be an element of, we're already sort of at the edge of something technologically. No offense to mom and pop shop, they could do it, but they would really have to have a good use case. We are at the beginning of this sort of Web3 buildup. And a lot of people think it's oh it's dead now isn't it no it's just that the the hype is over hype is something that has come in whenever there's a new technology and i mean you had when email became a thing i remember you start getting those messages and emails i'm dating myself again here but do you remember where it says send this to 10

Starting point is 00:22:05 of your friends you know those stupid and then you have those those scammers who are my funds are locked up in my home country please give me your bank account you know this usually a prince of some obscure made-up nation right the scams will always be there because it's something new and confusing to people so those scammers will unfortunately die away as big companies start to go into the space and there are very big companies in this space beyond mercedes-benz bmw nike adidas lvmh i mean there's so many luxury brands sports brands even medical companies like medical colleges are even now online there's so many different applications in web3 what i like to tell companies are if your customer base is particularly technical or if specifically they're young you're going to capture them with the new sort of technology

Starting point is 00:23:07 because that's where they live. And the other thing is I'm using it myself in some companies to build customer relationship management systems. So instead of just people's emails, we now have their behaviors online. So it's like a token gate, for example. If you are a member of a certain club you know say i don't know i'm trying to think of clubs online thing or online club yeah you get you get a membership card right yeah even just part of the library for example so if you're in the library you have a card, but now they have these digital passports

Starting point is 00:23:46 which say, yes, you're a member. And when you connect your wallet, they know you're a member. So you automatically have access to a part of a webpage that allows for those members. So it's, you know, who's doing this really well right now is Starbucks doing a fantastic job of giving really great customer experiences for coffee lovers when they have access to these NFTs, you know, these digital passports that prove that they are part of that club. There you go. And so everyone knows that you're in it and off you go. And that kind of leads into

Starting point is 00:24:20 one of the other questions is what is the difference between promoting for luxury marketing as opposed to regular marketing with the application you just told us about? Well, that's funny because I could teach a semester on this. We only have so much time there. Luxury marketing and regular marketing are separated by several things. One, beyond the products. I'm not going to talk about product, but I'm going to talk about the mindset, right? Because the product, a regular product is one thing, but a luxury product should be that much higher, right? So you're already starting with craftsmanship.

Starting point is 00:24:57 So it should be something that's unique and crafted. But you also have the mindset in luxury where i don't know if people know economics but there's this concept of you know the supply and demand as supply increases demand decreases as price increases demand decreases nobody's going to want to spend fifty dollars for something if they pay twelve however with marketing it's what we call a V-blend good, a luxury good. So that means that when price increases, guess what? Demand doesn't decrease. It goes up.

Starting point is 00:25:32 So that means if your Porsche is $80,000 and then next year it becomes $90,000, the demand for Porsche now goes up. Yeah, and why? Because you think, most people like like to think this is an investment. I buy it and I can sell it well later. Or I buy it and I know it's always going to keep its value. This is how people, and I came from the jewelry industry. So I used to be a jeweler.

Starting point is 00:25:59 A number of times people told me, I'm going to buy an engagement ring as an investment. I'm like, don't do it. You're going to lose the divorce anyway. Oh. Well, you'll never get the money you paid for it. But that's another reason. But my point is that investment mindset. But with luxury goods, people really make a business out of buying and selling luxury goods.

Starting point is 00:26:21 Like a Chanel handbag or a Louis Vuitton bag. Because these things hold their value. Luxury tends to hold their value. And so premium products, you know, like a regular handbag, you use it, you could maybe sell it. And then you can ask any person who's bought and sold stuff with secondhand market, you'll never get what you paid for it right even a car you drive it off the lot bye-bye there goes 10 grand unless you bought something like a classic car yeah yeah luxury luxury goods are like classic cars and so the concept of the mindset behind luxury is it can't be too much like you can't have too much of something. So supply must be low. It must have sort of a limited edition concept. It can't be like 40,000 out there, you want 400. Craftsmanship has to be high. And the mindset of a V blend good is again,

Starting point is 00:27:17 slightly different where you have a certain way of marketing something. So you're not marketing against advantages or disadvantages. You're not using competitor pricing or competitor comparisons because a luxury good should not have competition. So Porsche does not, you know, they don't compete with Lamborghini. They don't. It's totally different. You ask a Porsche fanatic, they will tell you. Yeah, I'm turning into one right now. I'm shopping for a Porsche. Very nice. Well, you wouldn't'm shopping for a Porsche. Very nice. You wouldn't be shopping for a Lamborghini at the same time, would you? No. That's a totally different animal.

Starting point is 00:27:51 That's those luxury products. And you're right. There's these old 911, 944 Porsches from the 80s that are highly sought after. I believe they're from 86-ish in the 80s, and they're like everyone wants them.

Starting point is 00:28:09 And they're like worth $70,000. And you're like, wait, this car is, you can buy a Porsche cheaper that's brand new? But they're, like you said, the craftsmanship and the other points you made make it so that the value is there so let's so let's talk about some of the things you're doing where people can work with you consult with you what offerings you're working on for your upcoming company let's get delve into that so we can find out how people can work with you. Perfect. So like I said, I do consulting.

Starting point is 00:28:45 I often work with medium-sized, smaller, and some larger luxury companies to kind of bring them from the Web2 space into Web3. The reason I usually go with luxury companies, at least where companies are looking to premiumize, is because the market to build something like in the web three space does require a certain type of customer. And that's something that I mean, I've seen, you know, insurance companies going into web three space. But when I say web three, that could mean anything from AR, augmented reality, for example, VR, virtual reality. It could be anything to put their data on blockchain and

Starting point is 00:29:27 monetize that, something that BMW is actually doing. I believe Mercedes was the first one to do it. Things like metaverses, which people sound, they just look at me and kind of roll their eyes. When I say things like this, you have so many different games and gamification in the younger generations that if you're looking to only stick to the area where you are very strong now, you're going to have a problem in 10 years, maybe even five years. Because as your demographic of customers start to age, you're going to need new customers. And what's really interesting is there's a lot of brands right now who are building, like advertising even, in video games. And it's such a prevalent thing that there are companies dedicated to building in video games like Roblox, which is, you know, the number one video game the newer generations are there and you go where your customers are so you have you know 12 year olds who are learning about gucci

Starting point is 00:30:32 because they're playing in gucci gardens with a digital avatar and they're dressing their little people in gucci clothes which they pay i don't know five to ten dollars to dress their little avatars we We find it crazy. And I'm from another generation where I'll be honest, I had a typing class. So I'm like I had a typing class too. In fact, it was great for me because

Starting point is 00:30:55 it was great for typing invoices. It was very useful for me later on in the computer era. But anyway. But it's something that we don't think about. But in the next 10, 15 years, even five years, we have to start looking at the new kind of demographic of consumers that are coming in and their behaviors are really interesting to us. So when I work with companies, I often try to translate what it is that they're doing. What

Starting point is 00:31:24 does their company want to do? How do they want to capture their audience? And a lot of that can be something as simple, like I said, augmented reality. There was a wine company that they wanted to kind of have used the phone to scan over their product. And instead of just seeing like a QR code that goes to their web page, which is what they usually had, they wanted to kind of create a filter that you could kind of use and you could put the, like a, you can, it's like a party in the bottle, almost kind of thing. And when you pass it over the bottle,

Starting point is 00:31:54 you can see festive things. You can even take pictures with your friends wearing like a hat and like the bottle, the name of the brand on your shirt. It was, it was like things to engage people. Because remember, the newer generations are really looking for things that are interesting, engaging, thought-provoking, and often socializing. So, there are Instagram generation, TikTok generation. So, you want a lot more engagement than just regular webpages these days. Definitely. So how do people reach out to you? How do they onboard with you?

Starting point is 00:32:31 How do they get involved, ask you questions, et cetera? Yeah. So my consulting company is called Zernica. We're working, it's a team of us, and I'm sort of the CMO for it. But you can reach us at Zernica.com and I'll spell it Z-E-R-N-I-C-A.com. And we work with companies and we're doing quite a few interesting activations in the Web3 space. But some of them tend to be even as simple as people have data concerns, like how do we get better data in our customer journeys? And so we tend to kind of figure out with them what it is they need from the Web 3 world to kind of even prepare them for the Web 3 world. Because some people are kind of like Web 1.5 still. I'm still trying to get out of AOL.

Starting point is 00:33:20 Well, you know, you shouldn't. AOL is just going to go places. Trust me. It'll come back. MySpace is on its way back. Anytime now. It's going to come back like fashion and old ties. It's going to come right on back.

Starting point is 00:33:32 Final thoughts as we go out on how AI is going to be integrated with Web3 and blockchain. And do you see really amazing changes happening there? Well, I love how people think AI is something like crazy and unique and new. And what I like to say AI is just a really efficient optimization. It's a computer basically doing what humans do. For example, if I'm creating a spreadsheet of a bunch of people, and who paid who what, you know, that kind of concept where in every office we have a spreadsheet of information that we probably could be doing it much more efficiently. AI really is just a mechanized computer thinking for us and doing for us. So it's an automation on the back end.

Starting point is 00:34:20 And what's interesting with AI is it's only as good as the information it's fed, which is why a lot of companies are using AIs to train them with company data and keeping that company data kind of secured. But you would be able to then say an insurance company can feed all of the information of all of the insurance packages, pricing, and all of the models, and they could feed it to an AI, which they can use. And these AIs are really just algorithms. So they're computer code on the back end. And what a person can do is they can interact with a chatbot that knows all the information of the company,

Starting point is 00:34:57 of this insurance company. And that AI will be able to, within seconds, let you know what is the right kind of insurance for you. And if you adjust parameters, it will immediately adjust the package for you. So that's really what AI is doing. AI is just, you get a group of 40 people doing the same thing at the same time.

Starting point is 00:35:17 That's what it is. Ah, there you go. The future is coming. You've given us a masterclass here on all this data on Web3 and everything else. We really appreciate it. Happy to do so. Thank you.

Starting point is 00:35:29 And give us that.com as we go out, Nicole. You can find me at Z-E-R-N-I-C-A.com, Zernika.com. There you go. Thank you very much for coming on the show, Nicole. We really appreciate it. Thank you so much, Chris, for having me. Thanks to my notes for tuning in. Go to Goodreads.com, 4Chance Chris Voss, LinkedIn.com, 4Chance Chris Voss,

Starting point is 00:35:47 Chris Voss, one of the TikTokity and all those crazy places on the internet. Thanks for tuning in. Be good to each other. Stay safe. And we'll see you guys next time.

The Chris Voss Show - The Chris Voss Show Podcast – Nicole Reznic Discusses the Integration of Web3 in CRM and Luxury Marketing

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