Excellent points Benedikt! Have you explore hedging as a way to mitigate risk? In finance it simply means taking a position opposite to your main play. In non-finance situations, it can simply mean diversifying your bets, so that even when things don't work out in one area they do work out in others.
Thanks, Vic! I have not heard of hedging in terms of developing opposite development or strategic directions. It seems to me that costs would be too high. It is much cheaper working with research, pilots, mockups, etc. Hedging is an interesting thought, though!
Thank you for the thoughtful response Benedikt. I think it comes down to choosing the playing field and how you position yourself in it. Nicholas Nassim Taleb explores the idea in detail in Antifragile.
Very briefly, he argues that certain industries and businesses are bound to do well under normal circumastances and even better under market disruptions. Google is an imperfect example of this. Because of their strategic choice to collect ridiculous amounts of data ans built a suite of apps to collect even more, they have a unoque advantage as an AI competitor. So, AI may disrupt to some extent their traditional business model but it opens up an even bigger opportunity.
I hope this makes sense. I am still thinking through the logic myself.
Excellent points Benedikt! Have you explore hedging as a way to mitigate risk? In finance it simply means taking a position opposite to your main play. In non-finance situations, it can simply mean diversifying your bets, so that even when things don't work out in one area they do work out in others.
Thanks, Vic! I have not heard of hedging in terms of developing opposite development or strategic directions. It seems to me that costs would be too high. It is much cheaper working with research, pilots, mockups, etc. Hedging is an interesting thought, though!
Thank you for the thoughtful response Benedikt. I think it comes down to choosing the playing field and how you position yourself in it. Nicholas Nassim Taleb explores the idea in detail in Antifragile.
Very briefly, he argues that certain industries and businesses are bound to do well under normal circumastances and even better under market disruptions. Google is an imperfect example of this. Because of their strategic choice to collect ridiculous amounts of data ans built a suite of apps to collect even more, they have a unoque advantage as an AI competitor. So, AI may disrupt to some extent their traditional business model but it opens up an even bigger opportunity.
I hope this makes sense. I am still thinking through the logic myself.