Referral programs mostly fail because companies try to manufacture word of mouth rather than capture it. In this episode, Joseph Michelli reframes referrals as a design problem, not a promotion problem — anchored by Nielsen’s finding that 92% of people trust friends over any ad, and the referral gap: 83% of happy customers are willing to refer, but only 29% do. Featuring how Airbnb engineered talkable moments at scale.