To be ahead of the market you can’t be a follower. You can’t be following what is hot. You have to have your own belief system. But to me risk is a religion, and I think if you want to go after the big market, you need to take it.
Archives
When Networks Drive Success
What Is Innovation?
Innovation is perhaps best understood as the process of introducing, adopting, and mastering new materials, products, processes, and ideas. Accordingly, there could be plenty of invention without commensurate innovation.
Regression To The Mean
Old Systems Break In Familiar Ways
Traditional systems (like wood-plank-keeled boats) have an advantage over innovative systems (like the then-novel plywood trimarans) in that the whole process of maintaining traditional things is well explored and widely understood. Old systems break in familiar ways. New systems break in unexpected ways.
Indicators Drive Activities
Because indicators direct one’s activities, you should guard against overreacting. This you can do by pairing indicators, so that together both effect and counter-effect are measured.
Hotelling’s Law
A Good Teacher
A good teacher is less of a teacher and more of a mentor. She always teaches you by asking the right questions that help you learn about yourself. And then improve from that point forward. You need to trust your teacher and believe you share a common interest to get there. It begins with acknowledging that a teacher has more experience than you, and it doesn’t have anything to do with their age. You can learn from someone younger but with more experience than you in a specific arena. That experience is there to help you get more context and help you independently arrive at the decisions that help you improve.
Life Is Full Of Tradeoffs
The optimistic view…that all good things must be compatible, and that therefore freedom, order, knowledge, happiness…must be at least compatible, and perhaps even entail one another in a systematic fashion…is not self-evidently true…Indeed, it is perhaps one of the least plausible beliefs ever entertained by profound and influential thinkers.