Storytelling really forms the foundation of our society. Stories give us purpose and meaning. It's stories that give us emotion, and it's emotion that drives our actions.
Stories are typically thought of as made up stories, but they go much deeper. Books are just information, but stories are how we make sense of this information.
Three-fourths of all companies that went public ten years ago were probably profitable. Today the companies that go public are not profitable. So how does a company go public that's not profitable? It's because of stories. It's the narrative.
Why is this company going to be successful and why is it worth so much? It's all about crafting a narrative. Thirty years ago we had twice as many journalists as we do today. Today we have six times as many communications professionals working at these corporations.
This is where the knowledge has moved into. The knowledge has moved from journalists to comms persons at these corporations. This is where the density of the knowledge is. This is where the work into crafting this narrative, into crafting this story.
A startup story is a made up series of events that occur in the future. That's why people say I believe in this story. I think it's going to be true. People are willing to put their money where their mouth is. They're willing to invest in these companies because they believe in the story.
What are the factors that cause us to believe in a story? Often times it is the narrator. Who is telling us this story and why should I trust them? Why should I believe what this person has to say to me?
Probability will also determine how likely and how much we believe in this particular story. But probability is a factor within our own minds. What I believe to be probable is not the same as what you believe to be probable.
The storyteller, the narrator, is going to play a big role in how likely we are to believe in the story. Our own worlds and our own experiences and based upon what we believe the probability of something occurring is also going to play a role in us subscribing to this particular theory that is professed within a story.
The next time you think about storytelling, you will probably remember that it is not just about a made up story. It also applies to business. With iChatbook, we can analyze stories. These can be true stories. They can be made up stories, but that actually doesn't make a big difference. It's really about how do we consume the story. How is the information that is touched on in this story disseminated to us and processed within our minds? Thanks for reading.