An Open Letter to Banks from a Millennial

The Street published an article yesterday that didn’t mince words: “Banks Have No Idea How to Handle Millennials”. The article basically highlights key points of a study that show which facets of banking my generation loathes the most – lack of mobile features, fees, not understanding our situation, and so on. It’s an interesting read for those who either are Millennials themselves (also deemed Generation Y) or otherwise.

Since I’m on the earlier edge of the Millennial age group, I can speak to issues my generation has with banks today. While I don’t necessarily agree with all of the points in the study – I think it largely depends on the bank itself – it did get me wondering what I would tell a CEO of a major bank if I had the chance to speak with him (or her).

Dear Banking Industry,

I’m sure you’ve thrown millions of dollars at the problem of determining what it is, in fact, that my generation wants from you. What we ultimately want is for you not to try to take advantage of us. To think that we’re stupid. Sure, there’s plenty we need to learn about personal finance since we never learned it in schools, but trying to hide it behind having to speak with one of your “banking specialists” who are really only specialists of the products you are trying to shove down my throat makes me never want to walk into a bank. Ever. I will do everything in my power to use my bank’s mobile app, ATM machines, and website to not have to set foot inside. In fact, in the last year I’ve only gone in there to get a bank check for a car and exchange $10 bills for quarters to do laundry.

In an age where I can YouTube how to fix or do virtually anything, you have got to make finance simple again. Leave your egos and your products at the door, and show us the basics. Then let us connect the dots. Let’s be honest – this isn’t just a problem with my generation. This is a problem every generation has right now. No one understands the finance industry. One person thinks it’s just fine, the other thinks it’s a house of cards ready to fall down (again), and a third probably keeps all of her money hidden throughout her apartment because she doesn’t want to pay fees. Stop trying so hard to make a buck and think about the long-term potential we have as customers. We’re in our 20s and early 30s now – you could have us for at least four more decades if you do it right. There’s a lot of things that we may be naïve about, but one thing we know for sure is that you’re in the business of making money – not just protecting mine.

Speaking of four decades from now – I am tired of seeing how much money I should save in order to have a “good” retirement. Do you know what I want for retirement? Do I even know what I think retirement will look like for me? Not really. I’m busy trying to either start my career or pay my bills. Stop trying to shove a magic number down my throat when, quite honestly, I don’t know what it is I want to do four decades from now yet. Do I know I should be saving money? Sure. So show me the best way to spread what little money I have to save across investments that will help my money grow faster than the pitiful .119% savings account rate for accounts with $2,500 and even worse CD rate average of  .113% (for a three-month CD). When you try to tell me how I should live my retirement, it makes me think about what that would actually be. And when I don’t have the answer to it, it makes me not want to save for retirement. Paralysis by analysis. What ultimately happens is that I don’t start saving for that because it’s something way off in the future I don’t have a plan for. Now I’m missing out on compounding interest.

Most likely, I’m probably not setting aside money for an emergency fund either because I think that nothing bad will ever happen to me. We all think that we’re invincible. We all think that we’re too big to fail. We also have a lot of money in student loans to pay off – and with that amidst a world that tells us we need to buy a house and a car, have a family, have babies, so on and so forth, again … paralysis by analysis. Show me how I can start to ease the pain right now, then the building blocks for what I could do in the future. Does it really make sense to plow money into something that gains less than two-tenths of a percent of interest when I can pay off loans that are charging me 6% of interest, if not more? Riddle me that, and maybe I’ll trust you enough to help me in the future.

There are too many variables in life, but that’s what makes it life. We’re not one-dimensional, and neither is the world we live in. We don’t expect you to know our situation intimately unless we tell you, so don’t pretend you know brass tacks what’s best for us. Give us clear information we can easily digest, don’t pressure us into making a decision, and stop assuming we’re derelicts. Every generation has thought the one ahead of theirs was going to ruin the world. You didn’t, despite your best efforts, and we won’t either. Get over it. Realize that you will want our business for the next 40 years, if not longer. Start to nurture that now, so that when we do have more money to diversify into different products, we’ll come to you first instead of sticking it under a mattress, keeping it in safes, or spending it to “keep our economy alive”.

Best regards,
Chris

 

Data Breaches Loom in the Executive Suite

In a move that probably doesn’t come as much of a surprise, Reuters just reported that Target Chief Executive Officer and Chairman Gregg Steinhafel is leaving the company in the wake of the retail giant’s tremendous breach of customer data in 2013.

For those living under a rock who missed the news, Target announced in December 2013 that it was the victim of a cyber-attack resulting in the loss 40 million payment card numbers and 70 million other pieces of customer data.

This gross breach of customer information led to Target promising free credit reports as well as credit and debit card providers issuing tons of new cards – complete with new account numbers – to virtually all of those impacted by the breach.

Considering that the theft of data came during one of the most important times of the year for retailers – Black Friday – the impact spanned far beyond simply issuing new cards. It led to a loss of consumer trust that Target could safeguard their information, and while I haven’t seen any specific data, possibly a decline in sales in Q1 2014. Given a Ponemon Institute report estimating the average amount of a data breach at $5.4 million, this was surely more than a blip on Target’s balance sheet given the sheer number of records impacted. Think about a decline in sales, the amount of money spent on litigation on behalf of Target, and for having to shore up its cyber defenses. $5.4 million is probably just the beginning.

The Reuters article has comments from analysts stating that this isn’t a surprising move given the scope of the attack, though it did come later than many thought. Personally, I had used my credit card several times in Target stores during the theft which resulted in being issued a new credit card months after the attack. While I didn’t experience any fraudulent charges or identity theft as a result of the attack, there are many who did.

With this attack, amongst the blatant disclosure of highly sensitive information accumulated by the National Security Agency by Edward Snowden in 2013, it’s no surprise that “privacy” was Dictionary.com’s Word of the Year. This has led to a lot of hard conversations companies have had to have with their customers to assure them their data is safe.

We live in an increasingly digital world, one in which not all payments are made with cash – which while seemingly prehistoric, does have the added benefit that it won’t disclose your most personal information.

While it’s unfortunate that it likely means the end or at least a huge detour for Mr. Steinhafel’s 35-year career as a retail executive, it should be another marker to begin to reassure you and I that companies do take data security seriously.

There’s not a lot that we can do to control how companies protect our data, but we can take safeguards to protect our own information in several ways. No, I’m not going to tell you to cut up all of your credit cards. I don’t know about you, but I like getting my cash rewards for using my Capital One card. Here are a few ways, though I’m sure there are many more:

  1. Take advantage of free annual credit reports offered by the big credit bureaus – Experian, Equifax, and TransUnion. An article from the Federal Trade Commission explains succinctly how you can go about doing this.
  2. Many sites are traps to get you to pay later, but using a site like Credit Karma can provide you with a truly free credit score you can monitor, especially if you’re thinking about making a big purchase that would require a loan (like a vehicle or home).
  3. Many credit card companies are great about sending you a notification if they feel someone has made a fraudulent charge with your card, but on a monthly basis make sure you review your credit card and debit card purchases to make sure there are no outliers. If you see one, call your bank or credit card company immediately to file a report. You can do this at the same time you’re looking at your monthly bill or reconciling your bank statement so that it isn’t any extra time taken.
  4. Keep all of your passwords, account numbers, and other sensitive information in a secure location (whether it’s photocopies you keep in a safe or a highly encrypted online document) for safekeeping. Make sure you also include the phone numbers for each of the companies with whom you have these accounts so that if you do lose your cards or feel as though your privacy has been compromised, you can quickly call to start to rectify the issue. Time is of the essence.

What I wish I knew about money when I was 21

There was an interesting article on Credit.com where the author crowdsourced the Internet to come up with pearls of wisdom those in their later 20s would have for their counterparts turning 21 – most of whom are just getting their undergraduate degrees.

It got me wondering what I thought about money when I was 21, and what I wish I knew now that I’m, well, staring 30 in the face. On October 25, 2005, I was just a couple of months into my junior year at Seton Hall University, solely focused on legally purchasing a 12-pack of Corona from University Liquors after my Publications Editing class ended at 11:30am.

Besides knowing that drinking beer at 11:30am for the sake of drinking it – not including allowable activities like sporting events and boozy brunches – is probably not the greatest idea, here’s what else I wish I knew about money at 21:

Spread the wealth: I had inherited a decent amount of stock from my grandparents, all of it in an old utility company that, barring something ridiculous happening, will never go out of business. (In retrospect, another mistake is thinking that a company’s stock price solely has to do with their viability as a company. Man, I was so naïve. I’m looking at you, Facebook.) In 2005, the economy seemed pretty good, so I didn’t move any of the money and let it ride in the stock market. The stock rose, and rose, and rose. Then the stock split, and I thought I was in for even more money. Screw you, college loans! (more on that soon) But just a couple of years later, the stock market crashed and we entered 2008’s Great Recession. I lost all of what I had made and more. I realize now that if I had diversified the stock between aggressive, middle of the road, and safer investments like money markets, I would have lost less money. Case in point? By 2008 I was in the working world and had a 401(k) that I had split among aggressive, moderate, and conservative investments. I lost at least 60% of the value of my inherited stock, and only 30% of my 401(k) investments – which I eventually earned back and then some. The inherited stock never returned to its pre-recession value, even today after I’ve long sold it at all for a loss (and a tax write-off).

College loans seemed like Monopoly money but they require cold, hard cash: When you’re 18 years old, you have no idea how much $40,000 actually is. You probably don’t know how much $20,000 is at that age, and the prices of colleges even when I was 21 were getting crazy. When I was picking which college to attend, cost was a factor but it wasn’t as big of a factor as it probably should have been. Seton Hall cost $35,000 per year at that time, which was far more than any other school to which I applied. With that said, they also offered me the most money, so I basically paid as much as I would to go to a state school in New York to go to Seton Hall. Even though that was a great deal, I was in no way prepared to be paying almost $400 per month after I graduated college to make that back. I wasn’t even making as much money in a year as I took out in loans – it was a reality check. Sometimes you have to play the game, and unless you’re very fortunate you’re going to have to take out at least some money to go to college. But I wish I knew the power of interest and how hard it is to simply pay off principle on loans before I decided where I went to school.

If you save for a rainy day, use it on that rainy day: There is a lot of debate about this, how much you should save for an emergency fund, how much to invest, how much to spend on vacations, taking your daily latte fund and opening a savings account, et cetera. I think anyone who tells you that if you invest $250 a month from 25-65 years old you’ll definitely have over $1 million is out of their mind, because what goes up does come down, and not always back to where you thought. It’s taking into account a rosy stock market and I suppose bank savings rates will reach 1% again at some point. With that said, having 6 months of emergency savings is important. So is investing in your future, whatever that future may look like for you. But if you’re fortunate enough to have more to save for a purpose, like a new car, computer, vacation, the list can go on … you should actually use it for that. Don’t feel like you need to save and save and save for the sake of saving. You’ll hate yourself and probably stop saving money. If you have an amount you’re willing to part with for a reason you already determined, spend it. Don’t second guess yourself as to what may happen if you lose your job or you break your leg … if this money is separate from your emergency fund and you have health insurance (and now you pretty much have to), then don’t let that fear dissuade you from something you’ve had your eye on for months if not years.

Why I Took a Social Media Nap

Almost 40 days ago, I joined millions of people around the world to give up something for Lent – some quit smoking, some drinking, others anything with sugar in it … but I found it ironic that people were announcing on Facebook that they were, in fact, giving up Facebook for 40 days. Were they closing down their notifications immediately after they posted? Did they only shut it down after they waited a couple of hours to see how many people liked their status update?

I wasn’t planning on giving up anything for Lent – some years I do, but I usually just use it to pick up something else to bring me closer to my relationship with God, whether it’s extra prayer, reading a new devotional, or otherwise. I did that anyway, but as I saw myself carving out what seemed to be no time – but ended up being 20 minutes – scanning my Facebook news feed, I felt myself getting angrier and angrier with each post I saw.

It was the same stuff, over and over again. The same people documenting the same issues, time after time. Maybe the people changed, but the issues remained the same. As I fumed over a Facebook member’s latest status update about breaking up with her boyfriend for literally the eighth time in six months, it finally clicked for me.

I was spending more time on others peoples’ lives than I was my own. Was I examining myself closely enough, or was I content to put that off because it’s easier to play Monday morning quarterback on other people’s lives, people in which I have no vested interest? I had grown content. I was losing myself in other people’s lives because I didn’t want to confront whether I was lost in my own.

So with that, I immediately shut down my automatic notifications for Facebook, Twitter, and LinkedIn – moved the apps to the last screen on my iPhone and off of the home screens of my Microsoft Surface and Asus Ultrabook. I had never done this before, but I was going to give it a shot.

I have to say, it was pretty liberating. Not feeling like I had to scan my news feed quickly as I downed my first cup of coffee headed to the gym in the morning allowed me to fill that time with reading other things, like an Easter devotional as well as the news of the day. I was learning about things happening in the world that didn’t involve an Instagrammed photo of someone’s food truck lunch, and it was great. There’s a whole big world out there, and I think that I was missing that by focusing on what was curated by my social circles.

This isn’t to say that social media isn’t a good place to curate news and updates – and that everyone I follow are shameless foodies, I actually have really smart, cultured friends. If you do it right, you can make sure you’re getting a very diverse view of things. But it’s like anything else, how diverse you get is really up to you. The very customizable nature of selecting your circle, or your followers, or your friends gives you freedom to choose what you want to see. But again, is that really giving you everything you should have? Or are you just content with what your other friends see and hear?

For me personally, I found that I wasn’t really updating my social media accounts all that much but I lurked an awful lot. I read up on everything, but never really engaged. I used it as a secondary news and events feed to standard news publications because I was too lazy to go look for it myself. I relied on others, but when I rely on others, I may not get exactly what it is that I want.

So in giving up social media for a brief time, I wanted to see if it made an actual impact on my life. If I craved the voyeuristic feeling of peering into others lives, but in a way that they allowed me to by giving me access to their daily updates and posts. If I missed wondering if a status update would get 5 likes, 20 likes, or a big fat zero.

It turns out that I missed it less than I thought I would, but now that I’m looking at it with a fresh set of eyes, I want to change the way I view social media. I’m going to much more liberally hide posts. I’m going to focus on the people I care about the most, and the type of news I care about the most. I’ve been really passive in shaping the conversation I want to be a part of, virtually, and it’s time for me to take that back. Like having to craft a strategic communications plan for an initiative at work, I need to craft a strategic plan for how I consume and engage through my own personal social media contacts.

I suppose social media is like anything else – you need to put it in its proper place in your life, and remember that you get as much out of it as you are willing to put in. This little nap I just took is going to help me do just that.

 

What comes first, the truth or page views?

There was a really good article in the New York Times today that talked about the agony (or not) that many news outlets experience when trying to take advantage of a story that is picking up so much steam that any mention of it will boost their page views – even if it seems too good to be true.

I mean, if I pitched a fit on a plane and someone bought me a drink, I’d stop complaining. Mile high beers aren’t cheap.

Essentially, the article highlights some of the more recent hoaxes that took the world by storm over the past few weeks and outlines the conundrum that modern reporters face when fact checking the “news”, interviewing both modern-day journalists as well as some of the individuals who perpetuated the more recent hoaxes that went viral. The hoaxers claim they were never asked to verify facts by anyone in the press, which I only partially believe. Not one journalist figured it would be a good idea to DM Elan and find out if he actually did what he tweeted? We’re really going to take tweets at face value?

Then again, I can actually believe no one asked. With site visits, page views, time on site, bounce rates, retweets, and 5 million other KPIs ruling the day when it comes to advertisers and monetizing the Internet, the faster you can post a story that you know will drive eyeballs, the better. We don’t all wait patiently for the 6pm news anymore to get our news update of the day, nor do we wait until the paperboy tosses our newspaper in the general direction of our front porch in the mornings. If I want to find out what’s going on in the world, it’s really just a click or two away. Having news at your fingertips 24/7 is no longer a privilege, it’s a right.

In fact, today I saw a resume in which an individual bragged about writing approximately 500 news stories a day. That’s right. Five hundred. Now, I don’t know if I fully buy that, but if that’s true then that person isn’t putting a whole lot of thought or investigative journalism into each dispatch. They’re taking information already available, trying to make it seem as though they didn’t copy it word for word, and put it out on the web for all to see. You think there’s really time for that person to verify a source if she has 499 other stories to write that day?

The easy thing to say is that journalists are lazy and need to do better. Man, where’s Walter Cronkite when you need him? There’s too many Ron Burgundy’s running around! I believe we can all do better, and as much as we don’t want to admit it … we’re all a little lazy in our own ways. But let’s think about this for a second. Sometimes, people go through extraordinary lengths to conceal their hoax. I remember when I worked for my college’s newspaper, The Setonian, and in my senior year we covered a story that seemed supremely outrageous. Outrageously awesome. I don’t remember all of the details, but it had to do with students living off campus, boxes, and vandalism. It was something crazy – but we did our due diligence, went to all of the sources, checked our facts, and made it a front page story. We even devoted our collective opinion section of the paper, The Voice, to this story. Lo and behold, not long after we patted ourselves on the back for some good old South Orange, NJ investigative reporting, those same students came forward and admitted that they completely made it up. On purpose. To screw with us. And while not long after our advisor was taking us to task over screwing up, we felt like we did everything right. We live in a society that’s apparently “innocent until proven guilty”, so when we get the same take from everyone we speak to (yes, we talked to more than just the students who were allegedly “victims”), we usually believe it.

So what’s my point? Besides never trusting college students, there are always going to be hoaxes. There will always be stories that go viral that are completely made up. People will retweet them, share them on Facebook, Instagram, whatever the social media platform du jour is on that particular day. Understand that the need to get content out faster is never going to go away – that’s just our new reality. But leading publications, news websites, and news channels need to take the lead here and stand against this garbage. They usually have the staff to turn things around quickly, much more so than the mom and pop shop websites out there. They need to adamantly refuse to cover stories until they have verified the facts – what’s another half hour or so? Getting to be first to write about a story is largely dying, since things get posted instantaneously now. Sure, there’s still something thrilling about it, but if you ask any reputable journalist, they’d rather be right than first.

If you can be right and first, then hats off to you. But if you have to choose, choose the truth. Choose to be right. It may not win you the page view battle today, but it’ll earn you subscribers for days, weeks, months, and even years to come.

Automating #Twitter Gone Wrong

There’s been a recent tale of social media woe making its way around – wait for it – social media recently involving comedian Kyle Kinane and Pace Picante salsa regarding an ill-fated attempt to automate retweets of any mentions of the salsa in order to boost its brand awareness/recognition.

Here I was, ready to talk about why trying to automate this is a bad idea, and then it turns out to be a huge prank by another comedian. I guess all the comedy clubs were closed last weekend. Apparently Pace Salsa hasn’t reached out to the prankster who created official-sounding Twitter accounts without them being, in actuality, official or verified … I’m pretty sure he’ll hear from the company’s lawyers soon.

Outside of it being important that your company monitors if there are rogue social media accounts using your name, your product’s name, or some derivative of the two - and working to have them deactivated if it’s controlled by someone outside your company (or transitioned to your Communications/Marketing team if it’s by an enthusiastic employee), the original premise for last weekend’s Twitter war is something worth talking about.

The issue was that it seemed Pace Salsa tried to implement some level of automation so that anytime anyone mentioned Pace Picante salsa, its “official” Twitter account would retweet it. Of course, there are benefits to highlighting when people are actually mentioning your product or service in a positive light. In the technology world (and probably some others) we like to call those customer references. It also helps amplify to others that people enjoy your product/service. Engagement and expansion of brand – never a bad thing, if it’s for something good. All press isn’t good press. With that said, what happens if it’s something negative? So #PacePicante is clutch for my chips before the football game … that would be worth retweeting. #PacePicante makes me sick … not so much.

At my current company, we’ve been asked by well-intentioned colleagues if there’s a way that they can automate any tweets that our company sends out. Heck, there are services like dlvr.it that help automate posting of updates from an RSS feed to your own social media accounts. Can’t we do this with company mentions on Twitter? We haven’t found a way yet, and we’ve found that Twitter doesn’t encourage that type of behavior. If you find a way to do it and you’re caught, you run the risk of losing your account. 

Don’t get me wrong – I think that automation of certain aspects of processes is a great thing. Time is a finite resource. We’re all being asked to do more with less. If I can save 20 minutes a day retweeting stuff from my company, that’s 20 extra minutes I can check out Buzzfeed … rather … work on that high-priority project. But should we even try to automate that? I say no – because, as you’ve seen from this Pace spoof, automation leaves people’s brains and sense of context out of the equation. Computers aren’t always going to know what’s a good post to retweet and what isn’t – and even sentiment analysis tools need to be “trained” by whoever is the one in charge of using it to tell the tool if something marked “negative” is actually “positive”. Case in point - enter a tweet that says something “is sick” into your sentiment analysis tool, and see if it automatically knows that’s slang for “cool” rather than its literal definition. Or if it picks up that the “don’t” in “Don’t miss our next webinar on polar bear cub awareness!” isn’t actually a negative. It’s just a more imperative way to ask someone to “please join”. More often than not, the tool won’t pick those up as actually being positive. Yes, you can teach technology to do better – and sentiment analysis is no exception. With that said, especially in the fickle world of social media, one slip – whether it’s intentional, a prank, or purely accidental – can wreak havoc on your brand. All of this stuff with Pace? Sure, it was a spoof – but I’m sure it was still a nuisance for Pace’s PR people. Act accordingly.

That means making sure you have someone with a brain in charge of your social media. While you can schedule posts to go up at all hours of the day (and night) – and you should, as it’ll make your life easier – when it comes to the content of the posts themselves, take a few moments to actually curate those yourself. Only you can gauge if it’s best to just retweet someone who mentions you, reply, or do a mixture of the two. You will always know your brand better than a computer – don’t default to automation as an easy way out.

Isn’t a Charm Bar a Bracelet?

For many of us, technology moves very, very quickly. I feel that way and I’m a late-stage millennial(ish), so imagine how quickly it must fly for our parents and grandparents. While it’s pretty easy for me to move seamlessly among Apple iOS, Android, and Windows – it isn’t always as easy for equally intelligent (if not more so) people like my father.

Last Christmas, my mother bought my father a new laptop computer that had Windows 8 – at the time a fairly new operating system – pre-loaded onto it. As soon as she bought it and happened to read an article about how vastly different Windows 8 was from previous Windows operating systems (Where the hell is the Start button?), she emailed me and asked me if I could ramp up on it and show my father how to use it.

Working at a company that is heavily invested in delivering solutions for those deploying Microsoft technologies, I asked our IT department to upgrade my work laptop to Windows 8 so I could play around with it and be able to show my father the basics before I went home for Christmas. You know, opening Microsoft Word, using Internet Explorer, finding his email, and downloading games like Bejeweled. It wasn’t too bad for me, though at the time I generally just treated the opening screen as pretty window dressing and immediately went into the desktop so I could use what was most familiar to me so I could get my work done without using new technology as a barrier to that.

Now, before I get into our Christmas fun in giving my father a crash course on Windows 8, let me make clear my father’s an intelligent man. He’s a high school history teacher and has been able to evolve as technology in the classroom has evolved – from chalkboards and pencils, to overhead projectors and sharpies, and now to Microsoft PowerPoint and Word. He has a cell phone and has become a prolific texter, though he and my mother both adamantly refuse to purchase smartphones. I wish I had taken a picture of the look on his face when he first opened the package and saw that it was a brand-new Acer laptop.

“Wait, Windows 8?” he asked, taking another sip of coffee as he took some of Microsoft’s new instructions and glossary of terms out of the packaging. “Charm bar? What the hell is a charm bar? Isn’t that a bracelet??”

I couldn’t hear him calling for me because I was laughing too hard, but I can assure you that for the next couple of hours I was walking my father through the ins and outs of performing basic tasks using Windows 8. He was truly lost without his Start button at the beginning, and to be honest, that’s probably one of the better things Microsoft did with Windows 8.1 – if for no other reason than to give people a sense of normalcy.

As we get closer to the holiday season, one in which many of us will likely be buying some sort of technology – whether it’s a webcam, new phone, computer, or otherwise – for our parents and grandparents. All of that is great – one of the cool things about technology today is that it breaks down barriers to communicate with one another. Maybe we can’t fly home for Sunday dinner, but we can Skype or Facetime to at least see what Mom made for dinner (lots of pasta). However, my fear with all of the technology today is that because the learning curve can be as steep as purchasing Google Glass, it will deter people from taking advantage of all the great innovative technology hitting the market today. They won’t be able to see the forest from the trees of configuring their iPad Air.

Now I understand that Microsoft felt it needed to take a big leap in software with increasing pressure from Apple and Google (among others). But charm bar? Really? It’s one thing to be forward-thinking and cool, it’s another one to take it too far and be so outside the box that people don’t even remember there was one to begin with. Everyone knows when you try too hard – it’s why everyone makes fun of hipsters in Brooklyn.

It’s fun to get new gadgets for people – turning them on, playing with all the buttons and features, and figuring out cool things they could never do before is fun to watch. It truly is. But this holiday season, if you’re manufacturing technology to sell, make it simple to understand. And for those buying gifts, be ready to have a dose of patience to show them how to turn the machine on and perform the functions you meant them to use in the first place. It’ll help for people of all ages – but especially parents who equate charm bars to bracelets that they had as children and don’t want to buy from Pandora this Black Friday.