Final Four (#412)
As we enter a new year, let's look back on some of the top Friday Forwards of 2023
As we close out 2023, I thought it would be fitting to look back on the year that was in Friday Forward. Here are some of the topics that were most resonant with readers and helped define the year.
One of the first big stories of 2023 was the bank runs of March and the collapse of Silicon Valley Bank. Beyond the business impact, the SVB meltdown showed which companies had strong crisis communication skills and which did not. The leaders that performed best this year were the ones who communicated clearly and effectively.
2024 looks like it will begin with some continued challenges and uncertainty. This Friday Forward shares a communications playbook leaders can leverage in uncertain times.
Excerpt: “While sharing good news is always easy, communicating bad news, or potential risks, in a transparent and timely manner is arguably more important.” Read The Post
We’ll likely remember 2023 as the year AI became a major part of our lives and vocabularies. We are still in the early stages of this transformative technology and likely can’t imagine all the changes it will eventually bring to our lives and work. As is common with many technological advancements, the genuine excitement for something new often attracts a group of vocal “maximalists.”
These individuals display excessive enthusiasm, audacious predictions and hyperbolic language—as well as massive Twitter threads—insisting that the new technology will revolutionize the world immediately and become the ultimate solution for all facets of life. But, as with many new disruptive technologies that are overfunded, AI will have a lot of winners and losers as it continues to develop. Who you trust in the field could make all the difference.
Excerpt: “The problem with the maximalist narrative is that it conveniently overlooks the challenges, complexities, regulatory considerations and time required for any innovation to be integrated into existing systems. While a maximalist’s optimism can spark interest and drive progress, the tendency to overlook challenges and complexities results in unrealistic expectations and a distorted view of the market.” Read The Post
A social trend from 2023 was a growing resentment about tipping scope creep. I shared my suspicion that customers would soon lose patience about tipping altogether after being prompted by the dreaded tablet asking for tips of 20 percent, 25 percent or 30-plus percent whenever they bought a quick cup of coffee or a bottle of water.
The hidden story here is how businesses use excessive tipping pressure to push a meaningful portion of their employees’ compensation onto customers. This is not a winning formula for customer satisfaction, and I was hardly surprised to see multiple outlets report that tipping in restaurants is down in 2023, where it is most appropriate. Some businesses have gotten ahead of this by changing their tip prompts or eliminating tipping altogether—and simply paying their employees higher wages through higher prices.
Excerpt: “No business wants customers leaving transactions with a bad taste in their mouths—and hardworking service industry employees shouldn’t want tipping to become a despised practice either. It’s only a matter a time before some smart businesses realize that this current style of tipping is at a breaking point and decide to proactively make a change.” Read The Post
To absolutely no one’s surprise, our social discourse did not improve in 2023. Reflecting upon the current state of our civil dialogue, I coined the term Fast Facter to describe a person who likes to overwhelm with fast facts and data points, while omitting information that undermines their viewpoint. These Fast Facters are so polished and confident that it feels impossible to refute them in real time.
As shared in the post, the best way to counter a Fast Facter is to disengage in the moment. Instead of responding in real time, take the time to research and clarify your response and pick the conversation up later. Remember, just because a Fast Facter sounds impressive doesn’t mean they are accurate.
Excerpt: “The next time you encounter a Fast Facter, remember velocity doesn't always indicate veracity.” Read The Post
I hope you have a restful holiday season and a happy new year. I will be back in January with a new year of content.
Quote of The Week
“Live to learn and you will really learn to live." - John C. Maxwell
Have a great weekend!