Below I'm using a single scene from this video to highlight an important element of explanation: building and sustaining confidence.
NOTE: If you're interested in learning in-depth about the skill of explanation and how to make Common Craft Style videos, check out our online courses at the Explainer Academy.
A quick point about intent. This video is not entitled “Private Equity Explained” or “Private Equity Made Easy”. Further, the target audience for the video is not stated, so I acknowledge that the intent may not be explanation or for a general audience.
First, I think it’s nicely presented. The illustrations work well with the voice-over and it has a friendly, approachable feel. And I think it does a reasonable job of explaining the basic ideas behind private equity from the perspective of the industry.
However, when I watch the video I see language that represents a risk. I’m a big believer in the idea that explanations should build and sustain confidence for the audience. Anything that takes away confidence erodes the power of the explanation.
The first big and potentially powerful point in the video is this:
Private Equity firms partner with investors like public and private pension funds, university endowments and charitable foundations to buy companies...
If you work in finance, this may make perfect sense to you and seem simple. But I doubt that the average person, whom I believe is the target for this video, will get it. Understanding what each of these investors are and do can be intimidating. Like so many explanations, it depends on assumptions. Let’s take a look:
The question is “What is Private Equity” and the first point they make is about “private equity firms partner with...”. Assumption(1): People know that private equity is something that a “firm” does. Assumption (2) People know what it means to “partner” with an investor.
The firms “partner with investors like public and private pension funds, university endowments and charitable foundations.” Assumption (1): People know what those things are. Assumption (2): People know that pension funds, endowments and foundations can be investors.
These assumptions don’t necessarily compromise the video, but they offer the audience a good reason to lose confidence.
Further, the point on investment partners is a distraction that was likely included to promote a message of positivity (private equity helps things that do good). Aren’t the investment partners a detail that can be covered later?
If I had to rethink the beginning of the video, I’d zoom-out, talk about the big picture and discuss the various needs at work, without all the details:
On one side, there are investors that have money and need a way to make more. On the other, there are companies that need money and have the potential to grow. In the middle are private equity firms, which use the money from investors to buy companies, turn them around and sell them to at a profit.
It’s a very simplified view but one that focuses on the big, high level concept. Of course it’s not bulletproof, but it builds a foundation that may help the audience feel more confident in understanding the big ideas *first* and the smaller ones later - and that’s what matters.
Late last year I was invited to present at an event called Big Ideas Fest, which focuses on change and inspiration related to K-20 education. My presentation, entitled "Viral to Valuable" was about 15 minutes long and appeared during a track of the conference called "Scale and Spread", which related to scaling and spreading an idea. If you're interested in the Common Craft story and how we came to focus our business on video as a digital product, etc., I tell the story in this video:
To find more videos of presenters from the event, check out the Big Ideas Fest YouTube channel. To learn even more about the Common Craft story, see our About page.
We hear so much about apps today that it’s easy to think about them being a fundamentally new phenomenon, but the truth is that we used apps or “software applications” long before mobile phones. This video explains what caused apps to evolve and what new systems are in place that are making them so popular and useful today.
It teaches:
The big idea behind applications and how they work with computers
The role of “platforms” and how they have changed thanks to mobile devices
The evolution to smaller, cheaper apps that become collectible
The role of online marketplaces for marketing and distributing apps
How apps are now becoming a part of browsers, social networks and game systems
This video is aimed at educators who teach technology and is related to other Common Craft titles that focus technology and mobile, like:
Today I was reminded by Brain Pickings that it's Richard Feynman's birthday. He passed away in 1988, and would have been 94 today. I recently became fascinated with Feynman while doing research on the Art of Explanation book. Feynman was a brilliant and colorful American Phycisist who played a major role in the Manhattan Project and later won a Nobel Prize. He was known as "The Great Explainer" due to his ability to help people understand and more importantly, be inspired by science and the world around them.
From reading about Feynman, his ability as an explainer was based on a couple of big factors. First, he was very passionate about his work and his enthusiasm was infectious. He desperately wanted people to see the world in new ways. Second, he had the rare ability to empathize with his audience and be able to present ideas and complex problems from a perspective that made them simple and useful. He found new ways to approach problems that were original, unique and above all, effective. The Brain Pickings article provides this quote:
When Feynman faces a problem, he’s unusually good at going back to being like a child, ignoring what everyone else thinks… He was so unstuck — if something didn’t work, he’d look at it another way.” ~ Marvin Minsky, MIT
I enjoyed reading a book about his life called "No Ordinary Genius - The Illustrated Richard Feynman" by Christopher Sykes. This book has been adapted into a film that is now available on YouTube. I've embedded it below:
Over the past month, Sachi and I have been neck-deep in ideas surrounding explanation, and it has been one of the most creative times in our lives. As you may remember, I'm writing a book called The Art of Explanation that will be out in October of 2012. To make our deadlines with the publisher, we took time this month to focus almost solely on the book - and that we did. I've written and Sachi has edited almost 60,000 words in the last month or so, which is much more than will appear in the book. In a lot of ways we've been writing this book for years, so this was our time to bring it all together.
Here is the spot where those words were typed. It's in a house we rented for a writing retreat.
Current Status
I'm feeling like the major part of the writing is finished. The big ideas are in-place and the table of contents is pretty much fleshed out. Something we did last week, which was incredibly helpful, was to take the big ideas and arrange them in vertical rows by chapter. This created a visual way to see the book as a package. As soon as we put up the notes, it highlighted gaps and showed how the book could be better organized. Thanks to Dan Roam for his advice on this exercise.
Right now we're working with a development editor at Wiley (the publisher) who is helping us make sure that the overall structure and flow of the book is working for our goals. So far we've sent her two of the three parts of the book, so we are mid-stream. Her feedback on Part 1 and it was encouraging and we have high hopes for Part 2. The final manuscript is due in late May.
The Big Idea
Now more than ever, we have a clear vision of the book's intent. The Art of Explanation is based on the idea that explanation is a powerful skill- and one that is often taken for granted. We want readers to see that explanation can be defined, understood, improved and put to work in solving problems. In this way, the book is for anyone who wants to become better at explaining their ideas, whether it's in the office, a classroom or home. The book is based on our work at Common Craft, but isn't about making videos. It's bigger than that. At heart, it's about effective communication.
Stay in Touch
We still have a long way to go and because this is our first book, we're learning as we go. If you're interested in tracking our progress, The Art of Explanation Facebook and Twitter accounts have more regular updates. Of course, the Art of Explanation website will be the home of the book in the future.
