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Dive into the fascinating world of habit-forming products with Nir Eyal as he demystifies the variable reward model in this enlightening conversation. 🔄

In this interview, Nir Eyal, renowned author and expert on habit formation, breaks down the crucial concept of variable rewards, a cornerstone of his acclaimed HOOK model designed for product habits, not personal habits.

*Understanding Variable Rewards:*
Discover the power of variable rewards, also known as intermittent reinforcement, as Nir draws parallels with B.F. Skinner's 1950s study on pigeons. Learn how internal triggers, akin to hunger in pigeons, play a pivotal role in creating a user's psychological need for rewards.

*Variable Rewards in Everyday Life:*
Explore how variable rewards permeate our daily experiences, from online platforms to offline activities, sports, news, movies, and even romance. Nir emphasizes the essence of variability, uncertainty, and surprise in keeping us engaged.

*Variable Rewards in FinTech:*
Uncover the secrets behind the success of habit-forming FinTech products. Nir delves into the easy integration of variable rewards in the financial technology sector, with a focus on elements like bank accounts and stock market fluctuations.

*The Pitfalls of Day Trading:*
Gain insights into the allure of day trading, despite its risks and pitfalls. Nir explains how the variability inherent in day trading turns it into a gambling-like experience, akin to a slot machine, making it both captivating and potentially detrimental.

*Designing Habit-Forming Products:*
Get a glimpse into the design principles of habit-forming products, especially in FinTech. Nir stresses the importance of incorporating one or more of the three types of variable rewards: rewards of the tribe, rewards of the hunt, and rewards of the self.

*Key Takeaways:*
Learn why variable rewards are neither inherently good nor bad but a powerful tool, much like a hammer, that can be wielded for positive or negative outcomes. Nir leaves us with the understanding that variable rewards are the engine driving the HOOK model and should be thoughtfully incorporated into the design process.

Don't miss this eye-opening conversation with Nir Eyal as he unravels the mysteries behind variable rewards and their impact on creating habit-forming products. Hit play now and embark on a journey into the psychology of user engagement! #VariableRewards #HabitFormation #NirEyal #ProductDesign #TechTalk

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About #DigiJanus
Janus is the Roman god of Transformation. As the gateway to the past and the future, Janus has an unprecedented vantage point for transformations.

In 2021, Laksh Gangwani (  / lakshgangwani   ) founded DigiJanus to expedite the transformation of the financial industry.

Our flagship chatshows #digijanusVantagepoint and #InTheGrillbydigijanus offer a unique perspective on Transformational journeys, Thought Leadership, Innovation, and Personal reinvention from the Financial Industry.