Frozen Accidents And The Path Dependence of Startups: Part 1
“Shallow men believe in luck. Strong men believe in cause and effect.” - Ralph Waldo Emerson
One of the things I have struggled with for years is the role of luck in business. I have seen plenty of smart entrepreneurs fail because of seemingly random events. But like most others, I want to believe [...]
Misunderstandings About Startup Risk
People say that startups are risky. True. But so are many things in life. (In times like these, almost all corporate jobs are just as risky.) What most people seem to mean, when they talk about startup risk, is that it’s all outside of your control, as if you are just [...]
Too Much Information Can Lead To Worse Decisions
Linda is 31 years old, single, outspoken, and very bright. She majored in philosophy. As a student, she was deeply concerned with issues of discrimination and social justice, and also participated in antinuclear demonstrations.
Based on this description, which of the following is more likely to be true?
a) Linda is a bank teller
b) Linda [...]